Remembering TCPaul, 2016-2019

Florida Coastal going "non-profit" still a failure factory

https://abovethelaw.com/2019/02/flo rida-coastal-law-school-n jdcumlaude02/07/19
This goes into the category of the age old question: If a tr wallypancake02/07/19
lol. Just as Cooley did with Western Michigan U, and there h onehell02/07/19
This may be it exactly-its fellow infi-law spawn tried the s toooldtocare02/07/19
jdcumlaude (Feb 7, 2019 - 8:54 am)

https://abovethelaw.com/2019/02/florida-coastal-law-school-nonprofit/

Private non-profit schools.....where the administration and professors are paid the dividends.

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wallypancake (Feb 7, 2019 - 9:18 am)

This goes into the category of the age old question: If a tree falls in the woods and no one is around to hear it, does it make noise?

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onehell (Feb 7, 2019 - 4:19 pm)

lol. Just as Cooley did with Western Michigan U, and there have been others, they need to become not only nonprofit but affiliated with a larger university in hopes that this will enable them to fly below the regulators' radar.

For-profit standalones are sitting ducks for accreditors, and if democrats oust Trump the Dept. of Ed will start coming after them again too. Nonprofit standalones only slightly less so. And for-profit undergrad institutions are seen as diploma mills too.

They need to become at least nominally part of a full undergraduate institution, and it has to be either public or nonprofit. Given the cagey statement about them being in talks with "a university in the southeast but not in Florida" I'm thinking they'll want to affiliate with an HBCU in Alabama or something. A nonprofit, hundreds-of-year old institution with a long history of promoting diversity will provide them with the best regulatory insulation they could possibly get. They need attacks on them to be politically unpopular, and coming under an HBCU's branding would be the perfect way to accomplish that.

Infilaw itself and its owners, meanwhile, have probably recouped their initial investment many times over by now. So they just need to get out, even if it means donating the assets. A big fat tax write-off would be far better than risking some regulator in the future trying to claw back their ill-gotten gains, or the bad press associated with jilted students left in the lurch if they have to shut the place down as they did with the others. In other words, it's an exit strategy that allows them to escape the tail liabilities associated with shutting down the school or waiting for regulators or accreditors to do it for them.

They just need a long-established four-year university that does not currently have a law school, but which would like to be able to say it does. Since the schools can fund themselves with student loan dollars, it should be self-sustaining or even a cash cow for such a university. They can even keep it as a separate legal entity if they want, just one where the university appoints the board so it has the needed control. So long as it can use the name and brand of the university, and so long as Infilaw can GTFO of this jeopardizing investment, everyone will get what they want. And the ABA will be satisfied that it's under new leadership and probably back off for awhile or even indefinitely.

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toooldtocare (Feb 7, 2019 - 6:02 pm)

This may be it exactly-its fellow infi-law spawn tried the same thing-
http://www.abajournal.com/news/article/arizona_summit_bethune_cookman_infilaw_hbcu_affiliation

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