The post above me is a good course of action. You can also pursue separation from the school. This may require a lot of legal document reading but you can attempt to either A. 100% separate from the school, but maintain the team as a mere program that occupies space at the school (IDK about other areas, but in Waukesha, Wisconsin ALL clubs that fit within a loose policy are allowed to operate. This allows for various religious clubs and some for profit groups to operate on campus. The state library system also utilizes the same policy). Or B, create a separate organization that handles money. This can be in the form of a booster club. The money is donated to the booster club and then donated to the team either in cash or through actual items. You have to be careful to follow/notify/be knowledgeable about how a separate identity is NOT affiliated with first, has to obtain 501c3 through the legal process and has to have its own organizational structure. Basically you create a charity that is run by adults that just so happens to only donate to your team. Intent needs to be expressed and a whole slew of other legal things need to be set up. If the school does not allow the donation of items in excess of a MSRP value, the booster club could purchase equipment to use at an off site location and your team would make field trips to use the equipment.
I strongly don't recommend option B. However, it sounds like your school is suffocating your team. Maybe you should campaign to change school policy instead?
