Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: STUDENT LOAN PROGRAM

  total $65,484,327 · related or exempt $65,427,023 · unrelated business $57,304

• 2b · Program service revenue: REFUND OF GRANTS PAID

  total $56,676 · related or exempt $56,676

• 3 · Investment income

  total $9,710,302 · unrelated business -$122,188 · excluded $9,832,490

• 6a · Gross rents

  real property $213,671

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $213,671

• 6d · Net rental income or loss

  total $213,671 · excluded $213,671

• 7a · Gross sales of assets other than inventory

  securities $64,919,180

• 7b · Less cost or other basis and sales expenses

  securities $62,510,116

• 7c · Gain or loss

  securities $2,409,064

• 7d · Net gain or loss

  total $2,409,064 · excluded $2,409,064

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $64,245 · related or exempt $39,266 · excluded $24,979

• 11e · Other revenue, total

  $64,245

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,815,611 · program services $1,815,611

• 2 · Grants to domestic individuals

  total $325,500 · program services $325,500

• 5 · Compensation of officers, directors and key employees

  total $3,140,445 · program services $1,310,411 · management and general $1,830,034

• 7 · Other salaries and wages

  total $6,678,226 · program services $2,378,034 · management and general $4,300,192

• 8 · Pension plan contributions

  total $598,109 · program services $324,026 · management and general $274,083

• 9 · Other employee benefits

  total $1,660,845 · program services $902,499 · management and general $758,346

• 10 · Payroll taxes

  total $721,061 · program services $155,577 · management and general $565,484

• 11b · Fees: legal

  total $128,759 · program services $19,727 · management and general $109,032

• 11c · Fees: accounting

  total $314,147 · management and general $314,147

• 11d · Fees: lobbying

  total $106,430 · program services $106,430

• 11f · Fees: investment management

  total $500,000 · program services $500,000

• 11g · Fees: other

  total $3,689,628 · program services $3,246,259 · management and general $443,369

• 12 · Advertising and promotion

  total $1,273,349 · program services $518,916 · management and general $754,433

• 13 · Office expenses

  total $133,999 · program services $51,862 · management and general $82,137

• 14 · Information technology

  total $1,270,318 · program services $637,018 · management and general $633,300

• 16 · Occupancy

  total $854,381 · program services $503,924 · management and general $350,457

• 17 · Travel

  total $630,223 · program services $329,305 · management and general $300,918

• 19 · Conferences, conventions and meetings

  total $574,037 · program services $572,372 · management and general $1,665

• 20 · Interest

  total $54,631,122 · program services $54,631,122

• 22 · Depreciation, depletion and amortization

  total $487,946 · program services $183,214 · management and general $304,732

• 23 · Insurance

  total $477,843 · management and general $477,843

• 24a · Other expenses: CONSOLIDATED LOAN REBAT

  total $5,966,622 · program services $5,966,622

• 24b · Other expenses: PROGRAM MATERIALS

  total $493,882 · program services $493,882

• 24c · Other expenses: PROVISION FOR LOAN LOSS

  total -$10,016,733 · program services -$10,016,733

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $312,705 · end of year $181,220

• 2 · Savings and temporary cash investments

  beginning of year $7,312,187 · end of year $6,256,120

• 4 · Accounts receivable

  beginning of year $253,474 · end of year $779,581

• 7 · Other notes and loans receivable

  beginning of year $1,186,470,332 · end of year $906,681,392

• 9 · Prepaid expenses and deferred charges

  beginning of year $794,130 · end of year $933,301

• 10a · Land, buildings and equipment: cost or other basis

  $1,771,904

• 10b · Land, buildings and equipment: accumulated depreciation

  $974,948

• 10c · Land, buildings and equipment, net

  beginning of year $773,454 · end of year $796,956

• 11 · Investments: publicly traded securities

  beginning of year $396,073,666 · end of year $349,008,003

• 12 · Investments: other securities

  beginning of year $440,349,692 · end of year $424,619,317

• 13 · Investments: program-related

  beginning of year $14,000,000 · end of year $24,000,000

• 15 · Other assets

  beginning of year $137,031,329 · end of year $107,431,201

• 17 · Accounts payable and accrued expenses

  beginning of year $24,749,295 · end of year $35,718,058

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 24 · Unsecured notes and loans payable

  beginning of year $1,285,592,364 · end of year $969,807,427

• 25 · Other liabilities

  beginning of year $1,543,271 · end of year $1,682,600

• 27 · Net assets without donor restrictions

  beginning of year $871,486,039 · end of year $813,479,006

The filer's explanations (Part III)

PART I, LINE 1A

THE ORGANIZATION WILL REIMBURSE MEMBERSHIP FEES TO HEALTH CLUBS FOR ALL EMPLOYEES UP TO A MAXIMUM OF $400 PER YEAR FOR ANY EMPLOYEE WHO PROVIDES SUFFICIENT SUBSTANTIATION AS REQUIRED UNDER THE ORGANIZATION'S POLICY RELATED THERETO.

PART I, LINE 4B

SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CHRISTOPHER CHAPMAN - $83,010 DEBRA SWARTZ - $44,571 CYNTHIA CASSITY - $20,571 AARON TAYLOR - $12,857 THE ORGANIZATION SPONSORS A NONQUALIFIED, SUPPLEMENTAL RETIREMENT PLAN DESCRIBED IN 457(F) OF THE INTERNAL REVENUE CODE WHICH IS AVAILABLE TO CERTAIN, ELIGIBLE SENIOR EXECUTIVES. THE PLAN IS UNFUNDED AND THE ASSETS REMAIN SUBJECT TO SUBSTANTIAL RISK OF FORFEITURE PRIOR TO VESTING AND DISTRIBUTION TO A PARTICIPANT PURSUANT TO THE TERMS AND CONDITIONS OF THE PLAN. FOR THIS REPORTING PERIOD, CHRISTOPHER CHAPMAN, DEBRA SWARTZ, CYNTHIA CASSITY AND AARON TAYLOR WERE EACH ELIGIBLE TO RECEIVE A CONTRIBUTION CREDIT. PART II, (F): CURRENT YEAR DISCLOSURE OF COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990S REPRESENTS NON-CASH AMOUNTS INCLUDED WITHIN THE CURRENT YEAR COMPENSATION TOTALS THAT HAVE VESTED AND BEEN PREVIOUSLY REPORTED, BUT NOT PAID, ON THE FORM 990S PREPARED AND FILED FOR PRIOR FISCAL YEARS.

PART I, LINE 7

THE ORGANIZATION'S CORPORATE EMPLOYEE INCENTIVE PROGRAM (C-EIP) SEEKS (1) TO EMPHASIZE CERTAIN NEAR-TO-MEDIUM TERM ACTIVITIES THAT FURTHER THE COMPANY'S LONG-TERM MISSION, GOALS AND OBJECTIVES; AND (2) TO REWARD EMPLOYEES FOR ATTAINING CERTAIN PERFORMANCE LEVELS RELATING THERETO. ON AN ANNUAL BASIS, EACH ELIGIBLE EMPLOYEE MAY BE AWARDED A CASH PAYMENT, SUBJECT TO THE TERMS AND CONDITIONS OF THE C-EIP, INCLUDING APPROVAL BY THE COMPENSATION AND BENEFITS COMMITTEE OF THE BOARD OF DIRECTORS. ANY SUCH PAYMENT WILL BE DISBURSED AFTER ALL REQUIRED APPROVALS AND AFTER SUCH DATE AS MAY BE DETERMINED BY THE ORGANIZATION'S BOARD OF DIRECTORS OR CHIEF EXECUTIVE OFFICER, AS MAY BE APPROPRIATE; HOWEVER, SUCH PAYMENTS TRADITIONALLY HAVE BEEN DISBURSED WITHIN 120 DAYS OF THE FINAL DAY OF THE APPLICABLE FISCAL YEAR. C-EIP PAYMENTS ARE DISBURSED PURSUANT TO THE ORGANIZATION'S PAYROLL PROCEDURES AND ARE SUBJECT TO ALL APPLICABLE WITHHOLDING TAXES AND OTHER REQUIRED OR OTHERWISE AUTHORIZED WITHHOLDING, IF ANY.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• AFFILIATED LOAN PROGRAM FOR STUDENTS

  STUDENT LOANS · DE · income $325,379 · assets $2,722,076

  Directly controlled by ACCESSLEX

• ACCESS FUNDING 2013-1

  STUDENT LOANS · DE · income $2,286,866 · assets $83,276,781

  Directly controlled by ACCESSLEX

• ACCESS FUNDING 2015-1

  STUDENT LOANS · DE · income $1,053,559 · assets $55,130,931

  Directly controlled by ACCESSLEX

• LAWYERMETRIX LLC

  INVESTMENTS · DE · income $1,779,258 · assets $34,260,574

  Directly controlled by ACCESSLEX

• ACCESS WAREHOUSE FUNDING 2020-1 LLC

  INACTIVE · DE · income $0 · assets $0

  Directly controlled by ACCESSLEX

• PROGRAM FOR EDU & ACCESS TO KNOWLEDGE FOR

  INACTIVE · DE · income $0 · assets $0

  Directly controlled by ACCESSLEX

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• ACCESS FUNDING 2010-A LLC

  RELATED · STUDENT LOANS · DE · 1% owned · share of income $164,838 · share of assets $697,285 · general or managing partner

• CS ABS REPACKAGING TRUST 2013-A

  RELATED · STUDENT LOANS · DE · 1% owned · share of income $164,316 · share of assets $731,460 · general or managing partner

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• AGILITY LOAN SERVICES INC

  C · INACTIVE · DE · 100% owned · controlled entity

  Directly controlled by ACCESSLEX