by: The National Center for Employee Ownership
Source: The National Center for Employee Ownership
At first glance, Cedarwood seems similar to many ESOP companies: the founder wanted a succession plan that would reward employees and preserve the character of the company. After rejecting the idea of an outside purchaser, the company found its solution in a 100% ESOP. It is currently working to educate employees, build an ownership culture, and eventually phase out the founder.
So what's different? Cedarwood is a private school. Its 53 employees provide preschool to seventh grade education to 370 students in Mandeville, Louisiana. From a legal perspective there is nothing unique about ESOPs in schools,but many people struggle with integrating the idea of 'school' with the idea of 'employee owned.' Cedarwood is a pioneer in developing a unique business model for schools interested in teachers as owners.
Link: Cedarwood School
Publication Date: 2008-03-01