But it will give up that status and money to join the Inspired Group,which has 53 schools on five continents,it announced on Thursday. Inspired is a profit-generating company held by family and private investors.
It will be the first major Sydney school to give up its government money and become fully private,although it will still be subject to the NSW Education Standards Authority's regulations that govern every accredited school.
The change would have no impact on the students or on the school's fees,its principal,Dave Pitcairn,said in a statement.
"This is an exciting time for Reddam,but the change is largely'back of house'and will not affect the culture or the ethos of the school,"he said.
"Indeed,we expect the day-to-day experience of students and staff at Reddam House to remain virtually unchanged.
"As a result of this engagement,teachers and students will benefit from the ideas and collective know-how of 53 high-performing schools around the world."