Law School Admission Council

“A school of law is eligible for membership in the law school admission council (lsac) if it requires that substantially all of its applicants for admission take the lsat, and is a law school approved by the american bar association (aba) or a member of the association of american law schools (aals), or it is a canadian law school that grants degrees that are recognized by a provincial or territorial law society or government agency as an approved academic credential for persons seeking admission to the bar in one of the provinces or territories of canada. The board of trustees of the council may at its discretion and following a period for notice and comment among the current members, admit into membership a law school outside of the united states and canada if it requires that substantially all of its applicants for admission take the lsat, and is accredited by a governmentally recognized, national accrediting authority or its degrees meet the legal education requirement for bar membership throughout its home country. There are currently 197 us member law schools, and 18 canadian member law schools.”

“Each member law school has one vote. The members elect the chair of the board of trustees every other year. All compensation is benchmarked to market data”

“A member law school can propose an amendment to the bylaws and upon approval of a majority of the members the bylaws can be amended.”

“Lsac's form 990 is prepared by the organization's independent auditors. After management review, a copy of the form is provided to both the lsac audit committe and the board of trustees, prior to filing with the irs.”

“On an annual basis lsac board of trustees members, committee members and volunteers are provided a copy of the council's conflict of interest policy, asked to review, disclose any potential conflicts, and sign an acknowledgement form that is maintained by lsac's general counsel. On an annual basis, officers and key lsac staff members are provided a copy of the council's conflict of interest policy and are asked to review, disclose any potential conflicts and sign an acknowledgement form that is maintained by lsac's general counsel.”

“The organization appoints an executive compensation committee, normally 3-5 members from the board of trustees and named by the lsac chair. The executive compensation committee enlists the assistance of an outside firm or specialist that is able to provide comparative information about process and compensation itself. As part of the annual budget approval process, the lsac president presents to the board a budget item regarding the proposed compensation pool of staff increases or adjustments.”

“Lsac makes its governing documents available upon request.”

“Penalties -3,765. Post retirement benefit year end adjustment 888,281. Intangible impairment and fixed assets disposal -1,060,570.”

“The process has not changed from the prior year”