Does anyone know why GVSU is a Division II school?

Hello all. I just wanted to know why GVSU remains a Division 2 University? Is it a size requirement (number of students/faculty)? Does it have to do with the size of the stadium? Is it a choice that the University has made to remain a D2 school for some sort of benefit (Financial, Winning Teams in Division II, tax reasons)? I was just wondering if anyone out there in the Reddit Community can enlighten me. Thanks!