Rasmussen University Market Research Report

Background

Overview

Founded in 1900 by Walter Rasmussen in Stillwater, Minnesota, Rasmussen University has evolved from a practical business school into a comprehensive private for-profit institution. With a mission to provide career-focused education, the university offers associate, bachelor's, master's, and doctoral degrees, as well as certificates and diplomas across various disciplines. Operating 20 campuses in Minnesota, Illinois, North Dakota, Florida, Wisconsin, and Kansas, Rasmussen also provides extensive online programs, catering to a diverse student body. The institution is accredited by the Higher Learning Commission (HLC).

Mission and Vision

Rasmussen University is dedicated to transforming lives and strengthening communities through accessible, career-oriented education. The university emphasizes continuous improvement, respect for individuals, and fostering a learning culture that adapts to market trends.

Key Strategic Focus

Core Objectives

Career-Focused Education: Delivering programs that align with current industry demands to enhance employability.

Flexible Learning Options: Offering online and on-campus programs to accommodate diverse student needs.

Affordability and Accessibility: Implementing initiatives like the Professional Achievement Grant to reduce financial barriers.

Areas of Specialization

Rasmussen University offers programs in eight key areas:

Business

Design

Education

Health Sciences

Human Services

Justice Studies

Nursing

Technology

These programs are designed to meet the evolving needs of the workforce.

Key Technologies Utilized

The university integrates various technologies to enhance educational delivery, including:

Learning Management Systems: Facilitating online course delivery and student engagement.

Virtual Simulations: Particularly in nursing programs, to provide hands-on experience in a controlled environment.

Telepresence Platforms: Enabling virtual connections between instructors and students.

Primary Markets Targeted

Rasmussen University primarily serves:

Working adults seeking career advancement.

Individuals pursuing careers in high-demand fields such as healthcare and technology.

Employers looking to upskill their workforce through educational partnerships.

Financials and Funding

Funding History

In 2021, Rasmussen University became a wholly-owned subsidiary of American Public Education, Inc. (APEI), a publicly traded corporation.

Revenue

As of October 2024, Rasmussen University's annual revenue was estimated at $750 million.

Utilization of Capital

The capital has been utilized to expand program offerings, enhance technological infrastructure, and develop partnerships with employers to provide tuition benefits to employees.

Pipeline Development

Program Expansion

Rasmussen University has expanded its program offerings to include:

Graduate Programs: Introduced in 2016, including master's and doctoral degrees.

Competency-Based Education (CBE): Implemented through Flex Choice® learning options to provide flexible learning paths.

Target Conditions

The university focuses on programs that address critical workforce needs, particularly in:

Healthcare

Business

Technology

Social Services

Timelines for Milestones

2020: Transitioned from Rasmussen College to Rasmussen University.

2021: Acquired by American Public Education, Inc.

2023: Appointed Mark Arnold as President to lead the next phase of growth.

Technological Platform and Innovation

Proprietary Technologies

Rasmussen University has developed proprietary learning platforms to support online education and competency-based learning.

Significant Scientific Methods

Competency-Based Education (CBE): Allows students to progress based on demonstrated mastery of skills.

Virtual Simulations: Used extensively in nursing programs to provide practical experience.

Leadership Team

Executive Leadership

President: Mark Arnold, MBA

Provost: Carrie Daninhirsch, Ed.D

Senior Vice President and Chief Administrative Officer: Rick Patro, BBA

Vice President, Chief Student Experience Officer: Brooks Doherty, Ed.D

Senior Vice President and Chief Operating Officer: Dwayne Bertotto, BA

Vice President, Human Resources: Alex Olesen, JD

Academic Leadership

Associate Vice President, Nursing Instruction & Operations: Karen Guty, DNP, RN, CNE

Regional Dean of Nursing: Donna Melkonian Reid, MSN, RN

Regional Dean of Nursing: Alexandra Torres, DNP, RN

Vice President, Curriculum and Learning Experience: Bob Knops, MS

Vice President & Dean, Student Affairs and Governance: Lamont Allen, BA

Associate Vice President, Business, Technology & Design: Lynne Croteau, EdD

Associate Vice President, Education, Social Sciences & General Education: Rikkisha Gilmore-Byrd, DrPH, PC, CHES, NBC-HWC

Associate Vice President, Health Sciences: Linda Kennedy, MBA, RHIA

Associate Vice President, Nursing Curriculum & Online Programs: Sheri Hartman, PhD, APRN, CPNP-PC

Associate Vice President, Faculty Excellence: Kailyn Denzel, MS

Assistant Vice President, Assessment and Institutional Research: Matthew Segaard, PhD

Assistant Vice President, Accreditation and Regulatory: Shawn Ulwelling, MEd

Director, Continuous Improvement and Strategic Execution: Kristi Reese, MBA, MA

University Registrar: Juliana Klocek, MBA

Operations and Student Services

Vice President, Central Student Operations: Lori Jonason, BS

Vice President, Workforce Connections: Morgan Meyer Jensen, BS

Vice President, Online Operations: Lisa Riley, MS

Vice President, Campus Operations: Staceyann Sinclair Jibbison, MA

Vice President, Campus Operations: Chris Phillips, BA

Vice President, Campus Operations: Chris Springer, BA

Leadership Changes

2023: Mark Arnold appointed as President, succeeding Paula Singer, who transitioned to the Board of Directors.

Competitor Profile

Market Insights and Dynamics

The for-profit higher education sector is experiencing growth, driven by demand for flexible, career-focused programs. Online education and competency-based learning are key trends influencing the market.

Competitor Analysis

Capella University: Offers online programs with a focus on adult learners. Tuition is higher than Rasmussen's, and the student-to-faculty ratio is larger.