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  1. #1
    Jellybeans8 is offline Newbie
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    Default 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.

  2. #2
    Rover_KE is offline Moderator
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    Default Re: Conversion Foundation

    Welcome to the forum.

    Click here for a start.

  3. #3
    Tdol is offline Editor, UsingEnglish.com
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    Default 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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