Florida Coastal Contemplates Savvy Corporate Reorganization

As we know, one of the bugaboos of law school detractors is "for-profit" status, an offshoot, one supposes, of this Millenial trope that after nothing but historical success with unfettered capitalism, maybe America should try socialism.  Nation is a grand experiment, I suppose.

In reality:  Liz Warren faked her ethnicity and Alexandria Ocasio-Cortez did not go to law school. Capitalism wins, Q.E.D.

The thing about law schools is that the faculties/administrators are as smart as the grease-slick companies their faculty members would be advising at white shoe firms but-for their steadfast commitments to public service.  See, e.g., Florida Coastal's corporate reorganization scheme:

Florida Coastal School of Law, a Jacksonville-based for-profit institution, says it will seek to reclassify as a nonprofit entity, joining a number of other for-profit institutions that have recently announced plans to change tax status as a solution to legal, regulatory or marketing hurdles...

Law school officials say the change would allow professors to apply for federal research grants and would facilitate the expansion of an endowment. Converting to nonprofit status would also have the added benefit of reducing federal regulatory requirements and removing a for-profit label that has become toxic for many students.

Live from Jacksonville, it's a checkmate.  Just as prestigious institutions all across the fourth tier have learned, if you simply move from an independent for-profit to a "better" status, you expand your market potential even while retaining the exact same profitably shit-stained standards.

Isn't anything actually going to change at Florida Coastal?  Shit, no.  It's got a nice thing going and it's turning out future millionaires.  Who in their right mind would change that formula because what some snooty hunchbacks in other places spit at their computer monitors? But you improve the bait, sometimes you land bigger fish.

Enjoy that new research money and reduced regulatory requirements, Florida Coastal, but never change for real.  We love you just the way you are.