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I completely understand the problems a team might have by being affiliated with the schools financially. We were a NASA grant team this year but our district would does not allow grant money to be placed into a club account but puts it into a general account. This means that if we didn't spend the money by a certain date it wouldn't roll over. We had plenty of expenses and didn't have a problem with that but had others. The district wanted us to put the money we got from businesses in the general fund instead of the club account because of the large amount of money we brought in for being a club. But our mentor, a small business owner, convince our districts financial officer against it.
As you can see we were generally a financial mess this year. Partly the districts fault and we understand a lot of the fault was ours. We have set up a new financial plan to solve our problems for this year. But I can understand how nice financial freedom would be. Again good luck. Consider all the options carefully and then make the best choice for your personal situation. But still remember that keeping good records is still way more helpful to you financial than becoming an independent corporation.
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