Feature Update: Admin (Co-Owner) Permissions

I built a site for my kids school. I don’t know what employee at the school I should transfer the site to as owner because what if someone retires or leaves? At that point all the banking info I have input would be broken if we had to transfer the site to someone else. Should I use the schools Info@companyname.com to transfer the site to as a work around to the above? Does a co owner receive all notifications like the owner when people purchase on your site or write in?