Dear Distinguished,
Can you please advise on the following with regards to educational trusts and its related bye laws.
We plan an not for profit educational trust for a school in TN with some 15 board of trustee. Every 3 years of rotating chairmanship and other executive posts. (some two thirds).
1. Are we liable to be answerable to any investors like patrons (we plan for some 25 patrons who would be life time members but without voting rights) on the administration and procedures?
2. Are we liable to have auditors outside our trustees/appointed by any external public? Does CBSE or IB board or anything of that sort have a bearing on this
3. Are we answerable to any government authority if we intend to subsidize fees much lesser than the market rate? Does any CBSE or IB board have any say on this.
4. Are we answerable to law if we have a linguistic minority or religious minority agenda for the school although we are not registered with minorty status? or any public can challenge us.
5.Are we allowed to be each in a professional consultant role or employee role in the trust so that say after 10 years we can share some profits after investing the fixed percentage on the development?
Any thoughts or advice would be very helpful.
Thanks,
Shahul B
