The college closed on June 30, 2016, after 95 years and gifted its property to the Board of Regents, State of Iowa.
In 1935, AIB moved to Tenth Street and Grand Avenue, the heart of the downtown business district.
In 1986, AIB became accredited with the North Central Association of Colleges and Schools Commission on Institutions of Higher Education.
[1][2] The regents asked a consultant to review whether the AIB site is the best fit for the resource center in the long term and left open the possibility of selling the campus.
In July 2018, the University of Iowa announced that they would close the AIB Campus and sell the land and buildings.
Proceeds of the property sale were put in a dedicated scholarship fund to assist central Iowa students.
The college also offered Associate of Applied Science (A.A.S) degree programs in the fields of Accounting, Business Administration, Information Technology, Sports and Event Management, Travel and Tourism, Media Communications, and Voice Captioning.
Business Administration degrees were offered in the areas of Leadership, Financial Services, and Sales and Marketing.
In 2015 the boys basketball team losses to William Penn University in MCC Tournament Semi-Final.