After the closure of Charlotte and the announced closure of Arizona Summit, Florida Coastal is the last so-called law school in the InfiLaw scam-chain. Suddenly the profit-oriented firm InfiLaw is eager to turn its sole surviving über-toilet into a "non-profit" entity. Why? Florida Coastal offers some odd-sounding justifications, all of which ring hollow in light of InfiLaw's profit-seeking motive.
Especially interesting is the following:
Florida Coastal officials said that at the end of the process, the law school would be an independent entity. But they didn’t rule out some kind of role for InfiLaw, its parent company.
“We’re not exactly certain what InfiLaw’s final role, if any, will be. But they will not be the owner,” said Jennifer Reiber, Florida Coastal’s dean of academic affairs.
Other institutions, like Grand Canyon University, that have converted to nonprofit status have signed management agreements with their former parent companies after splitting off. Kyle McEntee, the executive director and co-founder of Law School Transparency, said he questioned what kind of arrangement the new nonprofit entity would have with InfiLaw.
“Will InfiLaw be managing or does it hope to manage the law school?” he said.
So it seems that "non-profit" status might involve an "agreement" whereby InfiLaw would "manage" "non-profit" Florida Coastal—for consideration, bien sûr. Is this sort of sweetheart deal with the former owner the new face of the law-school scam? How can an entity be approved as "non-profit" if it intends to cut a questionable deal of this kind?