ACCESSLEX INSTITUTE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1993

Legal Domicile

Principal Officer

CHRISTOPHER CHAPMAN

Phone

4846533300

Tax Period

2024-04-01 to 2025-03-31

ACCESSLEX INSTITUTE, founded in 1993, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $72.1M in total revenue in fiscal year 2024. Revenue fell 25% from the prior year — a significant decline worth monitoring. Expenses of $83.2M exceeded revenue, resulting in a 16% operating deficit.

Mission

ACCESSLEX INSTITUTE IS AN ORGANIZATION UNDERPINNED BY A MEMBERSHIP COMPRISED OF APPROXIMATELY 200 AMERICAN BAR ASSOCIATION (ABA)-APPROVED NONPROFIT AND STATE-AFFILIATED LAW SCHOOLS AND IS DEDICATED TO IMPROVED EDUCATIONAL ACCESS FOR DIVERSE AND UNDERREPRESENTED STUDENTS, INCREASED AFFORDABILITY, AND ENHANCED AND LASTING VALUE IN LEGAL EDUCATION. THIS COMMITMENT IS ACTUALIZED THROUGH OUR RESEARCH, GRANTMAKING, POLICY ANALYSIS AND ADVOCACY, AND EDUCATIONAL SERVICES ACTIVITIES. THROUGHOUT ITS HISTORY, ACCESSLEX INSTITUTE HAS CONTINUALLY EVOLVED TO MEET THE EVER-CHANGING CHALLENGES AND NEEDS OF THE STUDENTS AND INSTITUTIONS OF HIGHER EDUCATION THAT WE SERVE. AS A STRONG AND LEADING VOICE IN EACH OF OUR FOCUS AREAS, WE ARE DRIVEN BY STRATEGIC INITIATIVES AND EXPANDED PROGRAMS DESIGNED TO MAINTAIN THE VIBRANCY AND DYNAMISM OF OUR MISSION.

Program Service Accomplishments

Program 1

Expenses: $60,391,507 Revenue: $57,200,777

THE ORGANIZATION SUPPORTS ITS STUDENT LOAN BORROWERS BY FACILITATING TIMELY REPAYMENT THROUGH INTEREST RATE REDUCTION INCENTIVES AND PROVIDING QUALITY CUSTOMER SERVICE, COUNSELING, ISSUE RESOLUTION, DEFAULT AVERSION AND POST DEFAULT MANAGEMENT. THE ORGANIZATION ALSO WORKS TO ENSURE THAT ITS STUDENT LOAN BORROWERS ARE PROVIDED WITH QUALITY AND EFFICIENT SERVICE THROUGHOUT THE DURATION OF THE REPAYMENT PERIOD.

Program 2

Expenses: $14,058,951

SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN CHRISTOPHER CHAPMAN : $72,938 DEBRA SWARTZ : $45,818 CYNTHIA CASSITY : $35,085 AARON TAYLOR : $21,429 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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $57,253,020

Investment Income $13,470,283

Other Revenue $1,339,895

TOTAL REVENUE $72,063,198

Expense Breakdown

Grants Paid $2,719,087

Salaries & Benefits $14,452,110

Fundraising Expenses $0

Program Expenses $74,450,458

Other Expenses $66,075,768

TOTAL EXPENSES $83,246,965

Year-over-Year Comparison

	2024	2023	Change
Revenue	$72,063,198	$95,890,882	-0.2%
Expenses	$83,246,965	$101,842,774	-0.2%
Net Income	$-11,183,767	$-5,951,892	+0.9%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

137

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$4,622,453

Total Directors

$1,166,595

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER P CHAPMAN	PRESIDENT & CEO	37.50	Officer Director	$718,790	$139,751	$1,166,595
ROBERT K RASMUSSEN	BOARD CHAIR	6.00	Officer Director	$0	$0	$0
MARY CROSSLEY	BOARD VICE CHAIR	6.00	Officer Director	$0	$0	$0
DAVID BRENNEN	BOARD SEC/TREASURER	6.00	Officer Director	$0	$0	$0
NEEL CHATTERJEE	BOARD MEMBER	6.00	Director	$0	$0	$0
DANIELLE M CONWAY	BOARD MEMBER	6.00	Director	$0	$0	$0
MARK C DAWKINS	BOARD MEMBER	6.00	Director	$0	$0	$0
VILAS DHAR	BOARD MEMBER	6.00	Director	$0	$0	$0
CHRIS GUTHRIE	BOARD MEMBER	6.00	Director	$0	$0	$0
BRIDGET M MCCORMACK	BOARD MEMBER (AS OF 07/2024)	6.00	Director	$0	$0	$0
RENEE MCDONALD HUTCHINS	BOARD MEMBER	6.00	Director	$0	$0	$0
MAUREEN A O'ROURKE	BOARD MEMBER	6.00	Director	$0	$0	$0
AUSTEN L PARISH	BOARD MEMBER	6.00	Director	$0	$0	$0
DEBRA SWARTZ	SVP GENERAL COUNSEL & CCO	50.00	Officer	$423,238	$96,340	$519,578
AARON N TAYLOR	SVP, EXEC. DIRECTOR FOR LEGAL ED	50.00	Officer	$342,193	$58,213	$400,406
CYNTHIA A CASSITY	SVP STRATEGIC ENGAGEMENT & HELIX COO	27.50	Officer	$168,927	$73,016	$410,870
SAMUEL GREENHALGH JR	SVP AND CFO	50.00	Officer	$296,805	$62,445	$359,250
DAVID J RAMAGE	SVP AND CIO	50.00	Officer	$298,560	$58,588	$357,148
JAMES R CASSITY	SVP CORP OPERATIONS AND CIO	50.00	Officer	$309,126	$44,298	$353,424
VALERIE YOUNG	VP HUMAN RESOURCES	50.00	Officer	$207,946	$56,391	$264,337
TIFFANE COCHRAN	VP RESEARCH	50.00	Officer	$207,206	$28,399	$235,605
EVNEET KHURANA	VP, MARKETING & COMMUNICATIONS	50.00	Officer	$206,525	$15,470	$221,995
JENNIFER SCHOTT	VP, CENTER FOR LEGAL EDUCATION & FINANCE	50.00	Officer	$181,186	$15,670	$196,856
DEBORAH A FABRYKA	EXEC ASST./ASST SEC (END 12/2024)	50.00	Officer	$114,190	$22,199	$136,389
ROBERT J GREENAWALT	MANAGING DIR - PORT MGMT	50.00	Highest	$188,855	$56,999	$245,854
ERICK HNOSKO	MANAGING DIR - IT OPERATIONS	50.00	Highest	$165,753	$51,838	$217,591
JOYCE GLANFIELD	MANAGING DIR - ASST CONTROLLER	50.00	Highest	$172,633	$44,432	$217,065
NANCY CONNEELY	MANAGING DIR - POLICY & CLEE ADMIN	50.00	Highest	$160,587	$51,403	$211,990
PAMELA DUNN	MANAGING DIR - DATA & LEARNING SOLUTION`	50.00	Highest	$171,770	$26,927	$198,697

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$72,063,198	$83,246,965	$1,569,435,529	$-11,183,767
2024	$95,890,882	$101,842,774	$1,785,535,287	$-5,951,892
2023	$77,938,285	$76,455,750	$1,820,687,091	$1,482,535
2022	$71,548,007	$67,049,586	$2,183,370,969	$4,498,421
2021	$95,736,485	$83,513,828	$3,025,741,930	$12,222,657
2020	$153,290,505	$132,150,692	$3,251,661,264	$21,139,813
2019	$181,130,536	$152,227,192	$3,769,267,979	$28,903,344