Access Group Loan Reserve Trust I
Nonprofit profile at a glance
- EIN
- 516522917
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2020
- Location
- Wilmington, DE, USA
- Phone
- 3026518049
- Rating
- 37
- Verdict
- REVIEW
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
Reported finances
- Revenue
- $453,203
- Expenses
- $17,500
- Assets
- $2,455,418
- Liabilities
- $4,375
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
1 person listed
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule o.the trust serves as a source of guarantee funds for student loans under the tax-exempt loan programs administered by accesslex institute for the benefit of the supported schools, which are tax-exempt institutions described in section 509(a) (1) or (2) of the internal revenue code.
What it reported doing in 2024
See schedule o.the purpose of this trust is to aid law school students, law school graduates who are preparing for the bar examination, other graduate and professional school students and certain undergraduate students in attaining an education. The trust is a supporting organization for post-secondary educational institutions described in section 509(a)(1) or (2) of the internal revenue code. The trust carries out its purpose by serving as a source of guarantee funds for student loan programs conducted by accesslex institute, which is exempt under section 501(c)(3). The trust provides a reserve for supplemental loans made by accesslex institute that are not part of the federal family educational loan program (ffelp), covering the default of such loans. Supplemental loans are typically needed by students whose education is more expensive than the limits set under federal programs. Without the existence of a guarantee, commercial lenders would not have been willing to make loans to many borrowers of supplemental loans under the accesslex institute programs, because such students typically do not have the credit record, current assets or current income generally required by commercial lenders for unguaranteed loans. Thus, by making the guarantees referenced above, the trust directly and materially aided students in attaining an education. The trust received student loan net recoveries in the amount of $346,191.
Operating model
- Revenue model
- Earned-program. 76% of the money available for current operations came from fees and other program revenue.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
The verdict
REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 90
- Accountability: 18
- Sustainability: 82
- Growth: 40
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 0%; rating input score 0; 7th percentile among comparable filings
- Governance controls: 3 of 9 controls in place; rating input score 43
- Conflict-of-interest policy: Fail
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Limited
- Other executive compensation review process: Limited
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Fail
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 96.1%; rating input score 99; 99th percentile among comparable filings
- Total-asset coverage ratio: 140.31; rating input score 99; 99th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 55; 55th percentile among comparable filings
- Officer compensation ratio: 100%; rating input score 1; 1st percentile among comparable filings
Growth
- Program expense growth: -10.5% per year; rating input score 0; 10th percentile among comparable filings
- Revenue growth: 17.5% per year; rating input score 100; 85th percentile among comparable filings
- Asset growth: -6.2% per year; rating input score 0; 9th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 0 of 1 board members independent · 3 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $18K · 1 people listed
- Consistency: 12 of 12 current checks pass
- Schedules: 4 filed schedules
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: 5 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Independent voting board scored 0/100.
- Moderate — Accountability: Governance controls: 4 of 7 not reported.
- High — Growth: Program expense growth scored 0/100.
- High — Growth: Asset growth scored 0/100.
- High — Sustainability: Officer compensation ratio scored 1/100.
- Review — Sustainability: Liabilities to assets ratio scored 55/100.