Language of Trust Allows School to Contract
Court looks to IRS Regulations to determine definition of “regular” enrollment of students
An appellate court in Wisconsin has affirmed a trial court decision allowing a private school created pursuant to a decedent’s trust to contract from a four-year college prep boarding school to a “semester away” program for students at other institutions. It said the board’s contraction in response to financial constraints was not prohibited by the terms of the founding instrument.
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