Academy of Art University expose:<\/p>\n
“…Stephens has plenty to celebrate. Since taking over as president of the family-owned Academy of Art University more than two decades ago, she\u2019s transformed the 86-year-old for-profit institution from a regional operation into America\u2019s largest private art university. Under her watch enrollment has skyrocketed from 2,200 to 16,000, generating an estimated $300 million in annual revenues, heavily subsidized by federal student loans. The Stephens family has turned that pile of art-school tuition into one of the largest real estate empires in San Francisco, with more than 40 properties in prime areas, including a historic former cannery on Fisherman\u2019s Wharf and a 138,000-square-foot office building steps from City Hall. In all, the real estate is worth an estimated $420 million, net of debt, and the family pulls in tens of millions of dollars each year leasing these buildings back to the Academy of Art for classrooms and dorms….”<\/p>\n
More at Forbes<\/a><\/p>\n Academy of Art University expose: “…Stephens has plenty to celebrate. Since taking over as president of the family-owned Academy of Art University more than two decades ago, she\u2019s transformed the 86-year-old for-profit institution from a regional operation into America\u2019s largest … Continue reading ![](\"http:\/\/blogs-images.forbes.com\/katiasavchuk\/files\/2015\/08\/0817_sf-arts-elisa-stephens_1200x675.jpg\")
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