Institutional Proposal for GNPEC Authorization

Institutional Proposal for GNPEC Authorization

The mission of the Georgia Nonpublic Postsecondary Education Commission (GNPEC) is to ensure that each authorized nonpublic postsecondary educational institution doing business in the State of Georgia is educationally sound and financially stable. In order to support this responsibility, GNPEC requires the submission and approval of an Institutional Proposal prior to providing access to the Initial Authorization Application.

The following is a list of items that must be provided in the Institutional Proposal:

  1. Contact Information
  • Name
  • Address or Proposed Address
  • Contact Person(s)
  1. Mission Statement
  1. List of Proposed Programs
  • Name
  • Level (Certificate and/or degree to be awarded)
  • Objective
  1. Needs Assessment- Using official labor data, such as Georgia Department of Labor data (http://explorer.gdol.ga.gov) or United States Department of Labor data (https://www.dol.gov/general/topic/statistics), the institution must submit a narrative justifying the need for the proposed training within the State.

Should labor data be unavailable, a statement relative to educational needs associated with the proposed program offering(s) may be provided in place of the labor data.

Prior to submission of the Institutional Proposal, the institution contact must also review the following documents to ensure that he or she is informed regarding institutional requirements and costs associated with authorization.

A. Initial Authorization Application Procedures

B. Minimum Standards

NOTE:  Please be aware that Standard 8 of the Minimum Standards requires access to liquid funds held strictly for the purposes of the institution, in the amount of one full year of institutional expenses. The expenses figure is provided to the Commission as an estimation in the GNPEC Financial Statement, required as part of the Initial Authorization Application. A bank statement documenting available funds is also required as part of this application.  The Commission will allow an irrevocable Letter of Credit or Line of Credit (LoC) from a bank in lieu of Cash on Hand (CoH) documented by a current statement if the institution is able to provide for all of the following conditions:

  1. Quick Asset/Liability ratio (QAL) of .5 or greater (Cash + Net Annual   Revenue/Current Liabilities);
  2. Collateral on LoC is stable (cash/CD or real estate/property); and
  3. LoC is from a banking establishment in good standing with the Georgia Banking Commission or other banking oversight authority.

C. Schedule of Fees

D. Bonding Requirements 

 

Institutional Proposals should be submitted by email to Deputy Director, Dr. Laura Vieth (lauras@gnpec.org).  Requests by the Deputy Director for additional information or to schedule the initial phone interview will be communicated with the institution via email within 10 business days of receipt of the proposal.