Another For-Profit Becomes a Public Benefit Corporation

Stratford University, a for-profit institution based in Virginia, this week announced that it has become a public benefit corporation. That move, which a handful of other for-profits have made recently, is a legal change to a company's charter, which allows it to focus more on activities that do not generate a profit -- including actions that are aimed at benefiting the public.

"Stratford has a student-first mentality, and as a benefit corporation we have the liberty to make sure we are providing students with the best education in the best environment,” Richard Shurtz, the university's president, said in a written statement.

The university holds national accreditation. It offers credentials in information technology, hospitality, culinary arts, business administration and health care.