Should I start an S Corp or a Non-Profit school?

I am interested in owning my own school, but I know that most schools are board-run non profit organizations and I hate NPOs. Would it be possible to run a school as an s-corporation, even if what I want to do does not guarantee a large profit (in other words it doesn't provide a direct service, like a martial arts school, etc., plus I would have to pay taxes on all income including donations). I just hate the idea of someone else making decisions about my company and my vision. Does anyone with a business background or knowledge of this situations have any advice as to which is the best path for me? Is there another option? What can I do about finding start up money? Thanks.

Should I start an S Corp or a Non-Profit school?
Your questions is a bit complex, and your information doesn't give some important details.





First of all, if you intend to get donations to the school, you would need to be registered as a not-for-profit organization in order for those donations to be tax deductible by the donors. That fact alone may have a lot to do with your decision.





Consider this: You may still be able to start the school, and own it as an S Corp, yet still have the benefits of a not-for-profit by having two separate entities: the school (which is your S Corp.) and the charitable organization which helps to support the school, and is a separate entity that is not-for-profit.





I went through something very similar to this in setting up a scholarship foundation -- one was the S Corp to generate cash flow, and the other was the not-for-profit that would be actually providing the scholarships.





This doesn't completely answer your question, but it does show a possible structure for you.





Best bet is to check with your CPA.





Good luck.