Who is eligible to organize a charter school in Indianapolis?
Any group or entity that (a) has been determined by the IRS to be operating under not-for-profit status (likely as a 501(c)(3) organization) or has applied for such determination and (b) whose organizational documents (articles of incorporation) include a provision that upon dissolution all remaining assets (other than funds received from the Indiana State Department of Education which must be returned to the State Department of Education) must be used for non-profit educational purposes. This may require establishment of new or separate entities by existing non-profit corporations whose current purpose is broader than education.
