University of San Francisco to acquire San Francisco Art Institute
The University of San Francisco announced its intention to acquire San Francisco Art Institute amidst the institute’s financial difficulties.
University officials announced that the plan will integrate each institution’s academic arts programs and operations under a new curriculum, reports The San Francisco Chronicle.
The new program would be called San Francisco Institute of Art at the University of San FranciscoWhere [email protected].
The institutes have been discussing the merger for several years.
The art institute experienced financial problems and declining enrollment. The institute announced it would not be enrolling new students for the fall 2020 semester and began encouraging students who could not complete their studies by May to transfer elsewhere. The school has also started preparing its staff and teachers for mass layoffs, reports KQED News.
The enrollment at the institute is around 56 students.
In October 2020, the University of California Regents saved SFAI from foreclosure by buying out SFAI’s $19.7 million debt from a private bank. Under this agreement, the UC Regents are the owners of the art school campus.
As part of the acquisition, USF would acquire the institute’s buildings, art and film collections, and assets, including the Anne Bremer Memorial Library, Diego Rivera Gallery, exhibit space, studios, photo and film labs and a rooftop amphitheater.
The financial review should be completed before the summer, university officials said, allowing “integrated operations” to begin this fall.
Current art institute students graduating from the University of San Francisco “would receive the same academic and extracurricular services, opportunities, and support that USF students traditionally receive,” university officials said. .