AIB College of Business says
American Institute of Business (AIB) was founded in Des Moines, Iowa, in 1921. Everett O. Fenton served as president of the college until his retirement in 1957. In 1925, the school was located in the Victoria Hotel. In 1935, the college moved to the downtown Des Moines business district at 10th and Grand where it remained for 37 years. AIB was reorganized as a nonprofit institution in 1941. For more than 20 years, the women's basketball team, which produced 23 All-Americans and toured the United States, Canada and Mexico, was a powerhouse in national competition.
Under the leadership of Keith Fenton, president from 1957 to 1998, the college continued to grow and to develop the campus at Fleur Drive and Bell Avenue. In 1965, a dormitory for 152 female students was built on the campus and dedicated to E. O. Fenton. The administration and classroom building was completed in 1972. In 1977, an addition to Fenton Hall was finished, increasing dormitory capacity to more than 400 students. The west wing was dedicated to Elsie M. Fenton, founder of Alpha Iota sorority. In 1981, a classroom building was constructed and dedicated to Ralph B. Wells, an accounting instructor at AIB for 36 years. In 1983, the college acquired an apartment complex on the southwest corner of the campus. Merk Hall was dedicated in recognition of Merk Realty Company for its financial contributions to AIB; Dalton Hall was dedicated in honor of Darrell and Frances Dalton, Fenton Hall houseparents for 19 years. Two additional buildings adjacent to the original campus were purchased in 1985; these buildings house the Court Reporting and Captioning Center, Academic Center, library, classrooms and offices.
In 1989, six buildings were purchased, enlarging the AIB campus to 16 buildings on 20 acres. One of these buildings was dedicated in honor of Clarence Davidson, AIB instructor for 22 years; one was dedicated to Richard Opie, AIB officer for 21 years; one was dedicated in memory of Arnold Johnson '37 and his wife, Dorothy, for their financial contributions to the scholarship program; and one was dedicated to J. Edward Power, member and chairman of the AIB Board of Trustees for 15 years. In 1998, President Keith Fenton retired after 42 years of service and the administration building was renamed in his honor. In 1999, Nancy Williams became the third president of the college.