Disclaimer: I am not an attorney. I offer this information solely to give you an idea of the kind of questions and issues you need to be discussing with professionals such as your attorney and your accountant. Finally, there are about 11,000 private schools that are not members of any private school association. You won't have to reinvent the wheel when you belong to a private school association. Hopefully, my suggestions in this article will encourage you to take advantage of the wealth of knowledge and experience in these associations. ~Rob Kennedy
Chapter 1: Choosing Your School's Legal Structure
Been there. Done that. Yes, I was actually involved in starting a private school. R-E-S-P-E-C-T Academy in Nassau, The Bahamas, was the brainchild of Senator Elliston Rahming. He hired me to be his assistant principal or deputy director as the position was styled. He charged me with organizing the admissions and academic side of the operation in four months so that we could open the school in the fall of 1994.
Starting a school requires one of your earliest decisions to be its legal structure. While you excel at education, this business decision needs professional legal guidance to protect your dream. Think of legal fees as an investment in your school's future. A qualified education law attorney will help you navigate complex regulations and prevent costly mistakes that could threaten your school's survival.
Now, let's look at the two forms of incorporation