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After leaving its longtime headquarters at Indiana University and scrapping a plan to move to Albion College in Michigan, the Carnegie Classification of Institutions of Higher Education has settled on a new home: the American Council on Education.

ACE—a nonprofit organization for college and university leaders based in Washington, D.C.—will house the universal and elective Carnegie classifications, bringing the two under one roof for the first time, according to a press release. The official handoff from Indiana University to ACE will happen on March 15, though Carnegie will maintain its ownership of the classifications.

“We could not be more excited to join forces with the Carnegie Foundation for the Advancement of Teaching to open a new chapter in the evolution of higher education’s gold standard institutional classification system,” Ted Mitchell, president of ACE, said in a press release. “Together, we are eager to work with the field to create a broad suite of classifications that will paint a more three-dimensional and nuanced picture of institutional achievement.”

The two organizations will refine the classifications to “better reflect the public purpose, mission, focus, and impact of higher education,” the press release stated.

ACE and Carnegie will also develop a new classification to measure social and economic mobility that will be launched in 2023.

“Much as the Universal Classification and its companion Elective Classification have exerted considerable influence in the higher education sector, we anticipate even more beneficial influence occasioned by the introduction of a social and economic mobility-focused Classification,” Timothy Knowles, president of Carnegie, said in the press release. “At the heart of it, the Foundation is committed to ensuring the postsecondary sector remains an engine of economic opportunity for all. In partnership with ACE, I expect that, over time, we will more squarely align the Classifications, public policy, capital, and learning with that essential aim.”