Civic Intelligence

Access Group Loan Reserve Trust I 51529-000

990 • Fiscal year 2018 • EIN 51-6522917

Apr 01, 2017 to Mar 31, 2018 • Filed on Sep 24, 2018

Organization Profilewww.accesslex.org
Rodney Square N 1100 N Market StWilmington, DE 19890

(302) 636-6705

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

64th percentile

0.01x

Higher debt load relative to assets than 64% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

66th percentile

0.01x

Higher debt load relative to revenue than 66% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Net Margin

98th percentile

95%

Higher net margin than 98% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Top Officer Pay

83rd percentile

$17,500

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 5.2% of source-year revenue.

2018 filings • 501(c)3 • <$500k nonprofits • Source year 2018

Asset Growth

96th percentile

300%

Faster asset growth than 96% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

100th percentile

2606077%

Faster revenue growth than 100% of similar nonprofits.

2018 filings • 501(c)3 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$428,489

Up $321,303 (+300%) from 2017

Net Assets

Up

$424,114

Up $321,303 (+313%) from 2017

Liabilities

Flat

$4,375

Flat from 2017

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin98th percentile

Revenue

Up

$338,803

Up $338,790 (+2606077%) from 2017

Expenses

Down

$17,500

Down $65,645 (-79%) from 2017

Net Income

Up

$321,303

Up $404,435 (+486%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth96th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $7,579,879Liabilities 2010: $4,375Net Assets 2010: $7,575,5042010Assets 2011: $3,194,879Liabilities 2011: $4,375Net Assets 2011: $3,190,5042011Assets 2012: $385,507Liabilities 2012: $4,375Net Assets 2012: $381,1322012Assets 2013: $287,814Liabilities 2013: $4,375Net Assets 2013: $283,4392013Assets 2014: $217,662Liabilities 2014: $4,375Net Assets 2014: $213,2872014Assets 2015: $79,534Liabilities 2015: $4,375Net Assets 2015: $75,1592015Assets 2016: $190,318Liabilities 2016: $4,375Net Assets 2016: $185,9432016Assets 2017: $107,186Liabilities 2017: $4,375Net Assets 2017: $102,8112017Assets 2018: $428,489Liabilities 2018: $4,375Net Assets 2018: $424,1142018Assets 2019: $176,799Liabilities 2019: $4,375Net Assets 2019: $172,4242019Assets 2020: $99,511Liabilities 2020: $4,375Net Assets 2020: $95,1362020Assets 2021: $571,304Liabilities 2021: $4,375Net Assets 2021: $566,9292021Assets 2022: $1,143,709Liabilities 2022: $4,375Net Assets 2022: $1,139,3342022Assets 2023: $1,555,166Liabilities 2023: $4,375Net Assets 2023: $1,550,7912023Assets 2024: $2,019,715Liabilities 2024: $4,375Net Assets 2024: $2,015,3402024Assets 2025: $2,455,418Liabilities 2025: $4,375Net Assets 2025: $2,451,0432025

Highlighted filing

2018

Assets$428,489
Liabilities$4,375
Net Assets$424,114
Open 2018 Filing

Operations Trend

Revenue Growth100th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MExpenses 2010: $5,258,8932010Revenue 2011: $92,758Expenses 2011: $3,065,612Net Income 2011: -$2,972,8542011Expenses 2012: $2,622,4102012Expenses 2013: $126,1962013Revenue 2014: $5,741Expenses 2014: $39,679Net Income 2014: -$33,9382014Revenue 2015: $2,572Expenses 2015: $55,940Net Income 2015: -$53,3682015Revenue 2016: $128,284Expenses 2016: $17,500Net Income 2016: $110,7842016Revenue 2017: $13Expenses 2017: $83,145Net Income 2017: -$83,1322017Revenue 2018: $338,803Expenses 2018: $17,500Net Income 2018: $321,3032018Revenue 2019: $3,104Expenses 2019: $254,794Net Income 2019: -$251,6902019Revenue 2020: $2,207Expenses 2020: $79,495Net Income 2020: -$77,2882020Revenue 2021: $489,293Expenses 2021: $17,500Net Income 2021: $471,7932021Revenue 2022: $589,905Expenses 2022: $17,500Net Income 2022: $572,4052022Revenue 2023: $428,957Expenses 2023: $17,500Net Income 2023: $411,4572023Revenue 2024: $482,049Expenses 2024: $17,500Net Income 2024: $464,5492024Revenue 2025: $453,203Expenses 2025: $17,500Net Income 2025: $435,7032025

Highlighted filing

2018

Revenue$338,803
Expenses$17,500
Net Income$321,303
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Apr 1, 2017 to Mar 31, 2018
Signed
Sep 24, 2018
Return Version
2017v2.3
Gross Receipts
$338,803
Mission and Program 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.

The trust serves as a source of guarantee funds for student loans under the tax-exempt loan programs by AccessLex Institute for the benefit of the supported schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$107,186$428,489▲ $321,303
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$107,186$428,489▲ $321,303
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$4,375$4,375→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$4,375$4,375→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$102,811$424,114▲ $321,303
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$102,811$424,114▲ $321,303
Total Liabilities and Net Assets / Fund Balance$107,186$428,489▲ $321,303
Compensation and Service Providers
Top Officer Pay83rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Wilmington Trust CompanyTrusteePT$17,500$17,500
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$338,271
Investment Income
$532
Other Revenue
$0
Change in Net Assets
$321,303
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,500
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$17,500-$17,500
Total Functional Expenses$0$17,500$0$17,500
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 11

“FORM 990 REVIEW PROCESS Form 990 was prepared by management in consultation with the organization's tax accountants and attorneys. Pursuant to the provisions of its charter, the audit committee of the board of directors reviewed a draft of this Form 990 at a meeting prior to filing. A complete copy of this Form 990, including all required schedules, was provided to each of the organization's directors prior to its filing with the IRS.”

Part VI, Lines 8A, 8B, 12A, 13, 14, and 15

“Access Group Loan Reserve Trust I is a 501(c)(3) organization that serves as a source of guarantee funds for student loans administered by AccessLex Institute. Access Group Loan Reserve Trust I has no officers, directors and one corporate trustee. As such, the organization does not carry out regular business activities and for such reason does not have these procedures in place.”

Part VI, Line 19

“HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC Access Group Loan Reserve Trust I does not have separate financial statements. The financial information for the Trust is included in AccessLex Instiutes's audited consolidated financial statements. AccessLex Instiutes's audited financial statements are available on its website. The Trust's certificate of incorporation is a public document on file with the Delaware Secretary of State. The Trust does not have officers or employees therefore it has not adopted a conflict of interest policy.”

Filing and Contact Details

Filer

Filer Name
Access Group Loan Reserve Trust I
EIN
51-6522917
In Care Of
% JULIANNE POWERS
Phone
3026366705
Address
Rodney Square N 1100 N Market St, Wilmington, DE 19890

Signing Officer

Name
Julianne Powers
Title
Wilmington Trust
Phone
3026366705
Signed
2018-09-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julianne Powers
Formed
2000
Legal Domicile
De
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Grant Thornton Llp
Address
2001 MARKET STREET SUITE 700, PHILADELPHIA, PA 19103
Preparer
Frank Giardini
Phone
2155614200
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X, Line 2

“Liability For Uncertain Tax Positions - Fin 48 (ASC 740) The Company accounts for uncertainties in income taxes based on a threshold of more-likely-than-not for recognition and rerecognition of tax positions taken or expected to be taken in a tax return. The Company has no uncertain tax positions meeting the threshold. The Company remains subject to federal, state and local income tax examinations for the year ending March 31, 2015 to present.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleA/SupportingOrgType1Ind0X
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Liability For Uncertain Tax Positions - Fin 48 (ASC 740) The Company accounts for uncertainties in income taxes based on a threshold of more-likely-than-not for recognition and rerecognition of tax positions taken or expected to be taken in a tax return. The Company has no uncertain tax positions meeting the threshold. The Company remains subject to federal, state and local income tax examinations for the year ending March 31, 2015 to present.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X, Line 2
IRS990ScheduleD/TotalLiabilityAmt00
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FORM 990 REVIEW PROCESS Form 990 was prepared by management in consultation with the organization's tax accountants and attorneys. Pursuant to the provisions of its charter, the audit committee of the board of directors reviewed a draft of this Form 990 at a meeting prior to filing. A complete copy of this Form 990, including all required schedules, was provided to each of the organization's directors prior to its filing with the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Access Group Loan Reserve Trust I is a 501(c)(3) organization that serves as a source of guarantee funds for student loans administered by AccessLex Institute. Access Group Loan Reserve Trust I has no officers, directors and one corporate trustee. As such, the organization does not carry out regular business activities and for such reason does not have these procedures in place.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC Access Group Loan Reserve Trust I does not have separate financial statements. The financial information for the Trust is included in AccessLex Instiutes's audited consolidated financial statements. AccessLex Instiutes's audited financial statements are available on its website. The Trust's certificate of incorporation is a public document on file with the Delaware Secretary of State. The Trust does not have officers or employees therefore it has not adopted a conflict of interest policy.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Part VI, Line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Part VI, Lines 8A, 8B, 12A, 13, 14, and 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Part VI, Line 19
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0AccessLex Institute
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1AGI Funding Foundation
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1DE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0LOANS & SVCS
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt09
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt111 Type 1
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt110 N High Street
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1PA
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd119380
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/USAddress/AddressLine1Txt0Rodney Square N 1100 N Market St
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IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0www.accesslex.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JULIANNE POWERS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Wilmington Trust
ReturnHeader/BusinessOfficerGrp/PhoneNum03026366705
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-09-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ACCESS GROUP LOAN RESERVE TRUST I
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Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$428,489
Liabilities
$4,375
Net assets
$424,114
Revenue
$338,803
Expenses
$17,500
Net income
$321,303
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$2.46$0.00$2.45$0.45$0.02$0.44
2024Detailed filing. Detailed filing data is available for this year.$2.02$0.00$2.02$0.48$0.02$0.46
2023Detailed filing. Detailed filing data is available for this year.$1.56$0.00$1.55$0.43$0.02$0.41
2022Detailed filing. Detailed filing data is available for this year.$1.14$0.00$1.14$0.59$0.02$0.57
2021Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$0.49$0.02$0.47
2020Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$0.00$0.08$0.08
2019Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.17$0.00$0.25$0.25
2018Detailed filing. Detailed filing data is available for this year.$0.43$0.00$0.42$0.34$0.02$0.32
2017Detailed filing. Detailed filing data is available for this year.$0.11$0.00$0.10$0.00$0.08$0.08
2016Detailed filing. Detailed filing data is available for this year.$0.19$0.00$0.19$0.13$0.02$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.08$0.00$0.08$0.00$0.06$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.22$0.00$0.21$0.01$0.04$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.29$0.00$0.28$0.13
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.39$0.00$0.38$2.62
2011Summary only. Only limited summary data is available for this year.$3.19$0.00$3.19$0.09$3.07$2.97
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.58$0.00$7.58$5.26