You wouldn’t know it by the exorbitant cost of getting a law degree, but the vast majority of ABA-approved institutions are nonprofits. The major thing that sets nonprofit schools apart from their profiteering brethren is that nonprofits are required to reinvest their revenue into the institution. Charleston School of Law just got the heads up to switch over to nonprofit status. From National Jurist:
The American Bar Association agreed to the next step in the Charleston School of Law’s quest to move from a private enterprise to a nonprofit school.
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Conversion to nonprofit status will involve the current owners of the Law School donating the school to an existing nonprofit, the Charleston School of Law Foundation, Inc. The owners have pledged not to take any money from the transaction. Instead, they will be donating the Law School in its entirety to the Foundation.
This sought-after change leaves Western State College of Law as the last for-profit law school in the nation. How long they’ll remain in that spot is anyone’s guess, Western State did a brief two-year stint as a nonprofit before Westcliff University bought it and shifted the status back.
ABA Approves Charleston School Of Law’s Application For Nonprofit Status [National Jurist]
Earlier: For-Profit Law Schools Are A Quickly Dying Breed, And Soon, Only One Will Be Left Standing
Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s. He endured Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boatbuilder who cannot swim, a published author on critical race theory, philosophy, and humor, and has a love for cycling that occasionally annoys his peers. You can reach him by email at cwilliams@abovethelaw.com and by tweet at @WritesForRent.
