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Our Christian foundation is what makes our university unique. This is the place to bring prayer requests, discuss theological issues and how to become better Champions for Christ.
You are venturing into an area where I have little knowledge. But I'll forge ahead anyway.
I see no problem with incorporating if it provides tax advantages for a ministry. We are to be good stewards of His money and if incorporating helps to keep the books more open and helps maximize the mount that goes into direct needs then I am all for it.