Five or six years ago our team started taking the steps to incorporate. It wasn't so much to protect the team, as it was that we wanted to eventually host an FRC tournament here in BC and knew that would require an organization much larger than one team could support.
Although I think "those rookies" in Calgary might just prove me wrong about that.
Although we haven't got an FRC regional yet, when the team folded the non-profit carried on and now organizes VEX competitions, workshops and road trips.
There are advantages to reaching outside the school, and having a vision beyond one team. Incorporation has helped us with that.
Jason