ACCESS COLLEGE FOUNDATION

EIN: 541440734 501(c)(3) Education

Norfolk, VA

Total Revenue
$10,828,802
Total Expenses
$5,962,447
Total Assets
$78,695,584
Net Assets
$78,390,943
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1987
Legal Domicile
VA
Principal Officer
BONNIE SUTTON
Phone
7579626113
Tax Period
2023-07-01 to 2024-06-30

ACCESS COLLEGE FOUNDATION, founded in 1987, is a mid-sized nonprofit in the Education sector that reported $10.8M in total revenue in fiscal year 2023. Revenue surged 34% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.9M, a strong 45% operating margin.

Mission

ADVISORY SERVICES FOR POSTSECONDARY EDUCATIONAL PLANNING AND IMPLEMENTATION OF THE APPLICATION AND FINANCIAL AID PROCESSES, AND CAREER ASSISTANCE AND OPPORTUNITIES FOR STUDENTS COMPLETING THEIR CERTIFICATION DEGREE OR PROGRAMS. THESE SERVICES WERE PROVIDED BOTH IN PERSON AND VIRTUALLY/REMOTELY.

Program Service Accomplishments

Program 1
Expenses: $4,462,784 Revenue: $0

HIGH SCHOOL PROGRAM AND COLLEGE SUCCESS PROGRAM: THE FOUNDATION PROVIDED POSTSECONDARY EDUCATION PLANNING TO MORE THAN 4,391 HIGH SCHOOL JUNIORS, SENIORS AND COLLEGE STUDENTS DURING 2023 AND 4,793 IN...

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HIGH SCHOOL PROGRAM AND COLLEGE SUCCESS PROGRAM: THE FOUNDATION PROVIDED POSTSECONDARY EDUCATION PLANNING TO MORE THAN 4,391 HIGH SCHOOL JUNIORS, SENIORS AND COLLEGE STUDENTS DURING 2023 AND 4,793 IN 2022. OF THOSE STUDENTS SERVED IN 2023, 3,199 FAMILIES (73%), WERE VERIFIED TO BE LOW-INCOME AND IN 2022, 3,392 (71%) WERE VERIFIED TO BE LOW-INCOME. POST-SECONDARY EDUCATION PLANNING INCLUDES SCHOOL-BASED AND VIRTUAL ADVISORY SERVICES FOR: COLLEGE AND POSTSECONDARY TRAINING PREPARATION AND SUCCESS, COLLEGE APPLICATION/ TESTING FEE PAYMENTS, GUIDANCE THROUGH THE ADMISSIONS PROCESS, COLLEGE TOURS TO PROSPECTIVE CAMPUSES, AND THE LEVERAGING OF FINANCIAL AID, SCHOLARSHIPS, AND GRANTS NEEDED TO ATTEND COLLEGE OR OTHER POSTSECONDARY TRAINING. EACH HIGH SCHOOL JUNIOR AND SENIOR COMPLETES AN "ACCESS SERVICES APPLICATION" AT THE BEGINNING OF THE SCHOOL YEAR FOR OUR USE IN DETERMINING THEIR ELIGIBILITY FOR SERVICES TO RECEIVE FEE WAIVERS AND FEE PAYMENTS MADE BY ACCESS ON THEIR BEHALF. THIS APPLICATION ALSO DEFINES THEIR FAMILY'S LEVEL OF POVERTY, BASED ON FEDERAL GUIDEINES. WHEN FINANCIAL AID FORMS (FAFSAS) ARE FILED FOR THE SENIORS AND OUR COLLEGE STUDENTS, THE FAMILY SIZE AND INCOME INFORMATION ARE CAPTURED ON THE COMPLETED "FAFSA CONSULTATION FORMUPDATED IN OUR STUDENT DATABASE. THIS INFORMATION WAS USED TO VERIFY THAT 73% OF THE STUDENTS IN 2023 AND 71% OF THE STUDENTS IN 2022 BELONGED TO A FAMILY WHOSE ANNUAL HOUSEHOLD INCOME WAS NOT IN EXCESS OF 300% OF THE FEDERAL POVERTY GUIDELINES. MIDDLE SCHOOL PROGRAM: WITH OUR FOUNDATION'S PRIMARY TARGET BEING STUDENTS FROM LOW-INCOME FAMILIES WHO MAY NOT OTHERWISE HAVE ACCESS, WE BEGIN LAYING THE GROUNDWORK OF EARLY COLLEGE AWARENESS/READINESS ACTIVITIES TO MIDDLE SCHOOL STUDENTS IN THE 7TH AND 8TH GRADES AND THEN FOLLOW THEM INTO HIGH SCHOOL IN THE 9TH AND 10TH GRADES. MUCH OF THIS WORK IS DONE IN GROUP SETTINGS AND STUDENTS IN THESE GRADE LEVELS DO NOT DISCLOSE THEIR FAMILY'S FINANCIAL INFORMATION IN ORDER TO RECEIVE SERVICES. WE DO KNOW THAT THE SCHOOLS THESE STUDENTS ATTEND HAVE A MAJORITY POPULATION RECEIVING FREE- OR REDUCED- LUNCH. ADDITIONALLY, WHILE OUR MISSION IS TO SERVE LOW-INCOME STUDENTS, WE KNOW THAT IN THE PROCESS OF PROVIDING POSTSECONDARY EDUCATION PLANNING TO THESE LOW-INCOME STUDENTS, OTHER STUDENTS MAY RECEIVE INFORMATION OR BENEFIT FROM ACTIVITIES PROVIDED IN GROUP SETTINGS.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,239,573
Program Service Revenue $0
Investment Income $1,605,231
Other Revenue $-16,002
TOTAL REVENUE $10,828,802

Expense Breakdown

Grants Paid $990,402
Salaries & Benefits $4,029,998
Fundraising Expenses $846,146
Program Expenses $4,462,784
Other Expenses $863,941
TOTAL EXPENSES $5,962,447

Year-over-Year Comparison

2023 2022 Change
Revenue $10,828,802 $8,084,908 +0.3%
Expenses $5,962,447 $5,129,033 +0.2%
Net Income $4,866,355 $2,955,875 +0.6%
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

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Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
37
Independent Members
36
Employees
48
Volunteers
66

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
8
$276,316
Total Directors
38
$276,316
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BONNIE B SUTTON PRESIDENT AND CEO 37.5
Officer Director
$261,299 $15,017 $276,316
CHERYL JONES VP FOR PROGRAMS 37.5
Highest
$107,238 $11,889 $119,127
DIONNE SCOTT VP FOR DEVELOPMENT 37.5
Highest
$104,436 $10,049 $114,485
AARON SCHAEFER DIRECTOR 0.2
Director
$0 $0 $0
ALLISON MCDUFFIE DIRECTOR 0.2
Director
$0 $0 $0
AMANDA GIFT CHAIR 1.0
Officer Director
$0 $0 $0
AUDREY SETTLE ASST. SECRETARY 0.2
Officer Director
$0 $0 $0
BOBBY BEASLEY III DIRECTOR 0.2
Director
$0 $0 $0
CEDRICKA DALTON DIRECTOR 0.2
Director
$0 $0 $0
CHARLES BIRDSONG DIRECTOR 0.2
Director
$0 $0 $0
CHRIS GRAVES DIRECTOR 0.2
Director
$0 $0 $0
CHRISTOPHER JOHNSON DIRECTOR 0.2
Director
$0 $0 $0
CONRAD M HALL DIRECTOR 0.2
Director
$0 $0 $0
DON SCOTT DIRECTOR 0.2
Director
$0 $0 $0
ELLIS PRETLOW DIRECTOR 0.2
Director
$0 $0 $0
EVAN KALFUS DIRECTOR 0.2
Director
$0 $0 $0
FRANK BATTEN JR DIRECTOR 0.2
Director
$0 $0 $0
FRED KIRSCHBAUM DIRECTOR 0.2
Director
$0 $0 $0
GWEN GREEN DIRECTOR 0.2
Director
$0 $0 $0
JAMES NOEL DIRECTOR 0.2
Director
$0 $0 $0
JANE R SHORT ASST. TREASURER 0.2
Officer Director
$0 $0 $0
JARED COTTON DIRECTOR (AS OF 01/24) 0.2
Director
$0 $0 $0
JIM SHUMADINE DIRECTOR 0.2
Director
$0 $0 $0
JOAN P BROCK DIRECTOR 0.2
Director
$0 $0 $0
JOHN B GORDON DIRECTOR (THRU 01/24) 0.2
Director
$0 $0 $0
JOHN STEIN SECRETARY 1.0
Officer Director
$0 $0 $0
KRISTAL AUDAIN DIRECTOR 0.2
Director
$0 $0 $0
LOUIS RYAN DIRECTOR 0.2
Director
$0 $0 $0
MORGAN WHAYLAND DIRECTOR 0.2
Director
$0 $0 $0
OWEN GRIFFIN TREASURER 1.0
Officer Director
$0 $0 $0
RBRUCE BRADLEY CHAIR 1.0
Officer Director
$0 $0 $0
REED ATKINS DIRECTOR 0.2
Director
$0 $0 $0
ROBIN COOKE DIRECTOR 0.2
Director
$0 $0 $0
SHARON GOODWYN DIRECTOR 0.2
Director
$0 $0 $0
STEPHANIE CALLIOTT DIRECTOR 0.2
Director
$0 $0 $0
T RICHARD LITTON JR VICE-CHAIR 1.0
Officer Director
$0 $0 $0
THOMAS G JOHNSON JR DIRECTOR 0.2
Director
$0 $0 $0
TODD COPELAND DIRECTOR 0.2
Director
$0 $0 $0
VICKI MCPHERSON DIRECTOR 0.2
Director
$0 $0 $0
WENDI BUTLER DIRECTOR 0.2
Director
$0 $0 $0
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 No data No data No data No data
2024 $10,828,802 $5,962,447 $78,695,584 $4,866,355
2023 $8,084,908 $5,129,033 $68,748,416 $2,955,875
2022 $4,039,611 $4,644,524 $62,526,055 $-604,913
2021 $5,626,162 $4,215,286 $68,645,105 $1,410,876
2020 $3,905,994 $4,500,265 $54,408,829 $-594,271
2019 $2,952,349 $4,394,560 $54,397,152 $-1,442,211
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