EDMC owned the college from 1998 until 2017, when, facing significant financial problems and declining enrollment, the company sold the Art Institute of Portland, along with 30 other Art Institute schools, to Dream Center Education, a Los Angeles–based Pentecostal organization.

The school was formerly named Bassist College and was acquired by Education Management Corporation (EDMC) in 1998.

[8] A required course schedule of four full-time (15 credit hours, or five course) quarters, including summer term, makes it possible to complete a four-year degree in three years.

On March 3, 2017, EDMC announced the execution of a definitive agreement for the sale of substantially all the assets of EDMC and its schools to Dream Center Foundation (DCF), a not-for-profit foundation.

[1] On July 2, 2018, the staff and faculty of the Art Institute of Portland were informed that the school would close on December 31, 2018.