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  1. #31
    Pylons's Avatar
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    Quote Originally Posted by VTHokie2000 View Post
    You are correct at the time it was sold it was a for-profit university. Recently there have been a number of for-profit universities switching to non-profit. I found this article which suggests that Alliant University's San Diego campus could become a for-profit (if sold).

    http://www.sandiegoreader.com/news/2...ys-san-diego-/
    while that headline references selling for some reason, the article says nothing like that...it says they were considering moving to a B-corporation model

    You can't sell a non-profit organization. No one owns it. That's the whole point--it exists for public benefit, not for the benefit of owners...so it has no owners. So it can't be sold.

    (at least here in the US...I'm not going to head overseas for this conversation )

  2. #32
    Quote Originally Posted by Pylons View Post
    while that headline references selling for some reason, the article says nothing like that...it says they were considering moving to a B-corporation model

    You can't sell a non-profit organization. No one owns it. That's the whole point--it exists for public benefit, not for the benefit of owners...so it has no owners. So it can't be sold.

    (at least here in the US...I'm not going to head overseas for this conversation )
    Even if a university decides to no longer accept funding from the state government? From the various articles I have seen about Oregon, Oregon St, and Portland St's decision, it appears they will not be receiving any state funding come July 1, 2014. Thus they would not be subject to any oversight and I believe not included in any state audit reports (i.e. A-133). If the state has no oversight, then the school would have the freedom to make whatever decision it desires (within the limits of any state or federal laws). Also, I would assume that ownership would then be transferred to the school's Board of Regents to handle all the administrative responsibilities that would have been done by the state. William & Mary was a private school until 1906 when the General Assembly passed an act to make it public. I see nothing that prevents the General Assembly from passing an act to rescend the 1906 Act, transfer ownership of the grounds to whatever entity W&M identies as the "owner," and thus making the school private again. I am not sure if the new "owner" would have to provide the state with financial consideration for the transfer of the property or if the state would simply accept the assumption of expenses as the consideration.

  3. #33
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    Quote Originally Posted by VTHokie2000 View Post
    Even if a university decides to no longer accept funding from the state government? From the various articles I have seen about Oregon, Oregon St, and Portland St's decision, it appears they will not be receiving any state funding come July 1, 2014. Thus they would not be subject to any oversight and I believe not included in any state audit reports (i.e. A-133). If the state has no oversight, then the school would have the freedom to make whatever decision it desires (within the limits of any state or federal laws). Also, I would assume that ownership would then be transferred to the school's Board of Regents to handle all the administrative responsibilities that would have been done by the state. William & Mary was a private school until 1906 when the General Assembly passed an act to make it public. I see nothing that prevents the General Assembly from passing an act to rescend the 1906 Act, transfer ownership of the grounds to whatever entity W&M identies as the "owner," and thus making the school private again. I am not sure if the new "owner" would have to provide the state with financial consideration for the transfer of the property or if the state would simply accept the assumption of expenses as the consideration.
    There's a difference between taking a public entity private (where it remains non-profit) and selling a non-profit.

    And there's a difference between selling assets that belong to an organization and selling the organization.

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