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    • Member Info
      • Member Type:
      • Interested in Language
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      • Arabic
      • Home Country:
      • Egypt
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      • Egypt

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    #1

    Conversion Foundation

    Hi All,
    I found this expression as I was reading about Lumina foundation. The Wikipedia says:
    "Lumina Foundation is a conversion foundation created in mid-2000 as USA Group, Inc., the nation's largest private guarantor and administrator of education loans, sold most of its operating assets to the Student Loan Marketing Association, Inc. (Sallie Mae). "

    Can anyone explain what does "Conversion Foundation" mean?
    Thanks in advance.

    • Member Info
      • Member Type:
      • Retired English Teacher
      • Native Language:
      • English
      • Home Country:
      • England
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      • England

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    • Posts: 16,047
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    #2

    Re: Conversion Foundation

    Welcome to the forum.

    Click here for a start.

    • Member Info
      • Member Type:
      • English Teacher
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      • British English
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      • UK
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    #3

    Re: Conversion Foundation

    This piece suggests that a conversion foundation can be a result when an organisation changes to a for-profit status:
    Health conversion foundations

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