2015-12-10T13:08:22-06:00 2015-06-30 EISNERAMPER LLP 111 WOOD AVE SO STE 600 ISELIN NJ 088302700 990 2014-07-01 132998164 Law School Admission Council Inc % MARJORIE LARUE BRITT LAWS 2159681298 662 Penn Street Newtown PA 18940 DANIEL O BERNSTINE PRESIDENT 2159681298 2015-11-15 true RICHARD A SACKIN P00184276 7322437000 2014 2016-03-07 17:11:31Z DANIEL O BERNSTINE 662 PENN STREET NEWTOWN PA 189402600 84204844 false X www.lsac.org X 1979 PA LSAC WAS FORMED TO CONSTRUCT, ADMINISTER & REPORT TEST SCORES FOR ADMISSION TO LAW SCHOOLS; CONDUCT EDUCATIONAL RESEARCH; AND PROVIDE SERVICES TO LAW SCHOOLS & EDUCATIONAL COMMUNITY. 21 20 323 150 -54846 -86995 0 0 47391806 46867020 3210149 5618608 6917101 7177512 57519056 59663140 1355761 1123980 0 0 33879793 34621306 0 0 0 25236898 23900285 60472452 59645571 -2953396 17569 244447038 238200207 29846608 25415887 214600430 212784320 X THE LAW SCHOOL ADMISSION COUNCIL WILL BE A GLOBAL LEADER IN PROMOTING INNOVATIVE ASSESSMENTS, ADMINISTRATIVE SERVICES FOR LAW SCHOOLS AND STUDENTS, EDUCATIONAL PROGRAMS, DIVERSITY INITIATIVES AND OTHER ACTIVITIES. false false 37345639 293057 46654737 ADMINISTERED 129,277 LAW SCHOOL ADMISSION TESTS (LSAT). PROVIDED THE LAW SCHOOL CREDENTIAL ASSEMBLY SERVICE (CAS) FOR 49,804 CANDIDATES. PREPARED AND SENT 364,112 REPORTS TO LAW SCHOOLS ON BEHALF OF CANDIDATES. CONDUCTED EDUCATIONAL RESEARCH FOR THE LEGAL EDUCATION COMMUNITY. 5186290 193483 HELD NATIONAL LAW SCHOOL FORUMS TO ACQUAINT STUDENTS WITH THEIR LEGAL EDUCATION ALTERNATIVES. HELD VARIOUS TRAINING AND EDUCATIONAL PROGRAMS FOR MEMBER LAW SCHOOL ADMISSION PROFESSIONALS. 1983734 830923 18800 CONDUCTED PROGRAMS AND RESEARCH FOR THE ADVANCEMENT OF UNDERREPRESENTED INDIVIDUALS IN LEGAL EDUCATION. 2703773 1850077 OTHER PROGRAM SERVICES 2703773 1850077 47219436 true false false false false false false false false false true true false false true true true false false false true true false false false false false true false true false false false false false false false false false false false false false false false false false true 782 0 323 true true true false false false false false false false false false X 21 20 false false false false true true false true true false false true true true true true true true true false X MARJORIE LARUE BRITT 2159681298 662 PENN STREET NEWTOWN PA 18940 X DANIEL O BERNSTINE PRESIDENT 37.5 0.0 X X 662923 0 29359 STEVEN I FRIEDLAND TRUSTEE 1.5 0.0 X 1559 0 0 IAN HOLLOWAY FINANCE & LEGAL AFFAIRS CHAIR 1.5 0.0 X 0 0 0 SUSAN L KRINSKY CHAIR-ELECT 1.5 0.0 X 0 0 0 CHRISTOPHER M PIETRUSZKIEWICZ INVESTMENT COMMITTEE CHAIR 1.5 0.0 X 0 0 0 ATHORNIA STEELE CHAIR 1.5 0.0 X 0 0 0 CHRISTINA B WHITMAN AUDIT COMMITTEE CHAIR 1.5 0.0 X 0 0 0 REYES AGUILAR TRUSTEE 1.5 0.0 X 0 0 0 R LAWRENCE DESSEM TRUSTEE 1.5 0.0 X 993 0 0 MICHAEL A JOHNSON TRUSTEE 1.5 0.0 X 0 0 0 CYNTHIA R MABRY DIVERSITY INITIATIVES CHAIR 1.5 0.0 X 0 0 0 ARTHUR R PINTO TRUSTEE 1.5 0.0 X 912 0 0 RENEE POST TRUSTEE 1.5 0.0 X 0 0 0 ROBERT L SOLOMON II TRUSTEE 1.5 0.0 X 764 0 0 KRISTIN THEIS-ALVAREZ SERVICES & PROGRAMS CHAIR 1.5 0.0 X 654 0 0 ALICIA K CRAMER TRUSTEE 1.5 0.0 X 0 0 0 TIMOTHY P GLYNN TEST DEVELOPMENT & RESEARCH CH 1.5 0.0 X 0 0 0 JOHN A MILLER TRUSTEE 1.5 0.0 X 0 0 0 CYNTHIA E NANCE TRUSTEE 1.5 0.0 X 0 0 0 SOPHIA SIM TRUSTEE 1.5 0.0 X 0 0 0 JANICE L AUSTIN TRUSTEE 1.5 0.0 X 1232 0 0 BRUCE M BACHMAN VP INFORMATION SERVICES, CIO 37.5 0.0 X 339180 0 21776 JOAN E VAN TOL GENERAL COUNSEL 37.5 0.0 X 300258 0 33696 MARJORIE LARUE BRITT CFO 37.5 0.0 X 284353 0 29536 PETER J PASHLEY DIRECTOR TESTING & RESEARCH 37.5 0.0 X 291697 0 21776 KENT D LOLLIS DIR DIVERSITY INITIATIVES 37.5 0.0 X 238101 0 28359 TROY LOWRY DIR SOFTWARE SERVICES 37.5 0.0 X 216660 0 35574 CAROL A ROMMELL DIR ADMIN SERVICES 37.5 0.0 X 206726 0 25145 VIVIAN G BOWDEN DIR OF EDUC & PRELAW PROGRAMS 37.5 0.0 X 197770 0 25930 LILY KNEZEVICH DIRECTOR OF TEST DEVELOPMENT 37.5 0.0 X 181903 0 32335 2925685 0 283486 60 false true false MISTI SOFTWARE GROUP 22 SUSANNA WAY NEWTOWN PA 18940 IT CONSULTANTS 290055 NORTON ROSE FULBRIGHT 799 9TH STREET NW STE 1000 WASHINGTON DC 20001 LAW FIRM 660436 MOMENTUM COMMUNICATION GROUP 1010 AVE OF THE AMERICAS NEW YORK NY 10018 advertising 224762 KING INTERESTS 219 NASSAU STREET PRINCETON NJ 08542 CONSTRUCTION MGMT 213652 EISNERAMPER LLP 750 THIRD AVE NEW YORK NY 10017 ACCOUNTING FIRM 122000 7 X 0 LSAT 611710 24283274 24283274 CAS 611710 18424741 18424741 FOREIGN LLM 611710 2166369 2166369 MPRE TEST ADMINISTRATION 611710 1697497 1697497 FORUM AND WORKSHOP FEES 611710 212283 212283 82856 82856 46867020 465360 -86995 552355 0 0 990476 314941 675535 0 675535 675535 28760893 363300 23607172 363773 5153721 -473 5153248 32149 5121099 0 0 2105895 255818 1850077 1850077 LICENSING FEES 611710 4095755 4095755 APPLICATION PROCESSING FEES 611710 556145 556145 4651900 59663140 53368997 -54846 6348989 924020 924020 0 199960 199960 0 3503329 1785084 1718245 0 21049773 19677389 1372384 2105939 1840575 265364 6239677 3910451 2329226 1722588 1540680 181908 0 698201 698201 168979 168979 0 0 451234 451234 0 227034 167251 59783 431253 257539 173714 13461 13461 0 2854603 1613066 1241537 879458 712486 166972 0 3336635 3331016 5619 10750 10750 0 2123240 1204677 918563 384155 384155 TEST ADMINISTRATION 3464828 3464828 FEE WAIVERS 2859723 2859723 OTHER CONSULTANTS 2358987 1794604 564383 POSTAGE/SHIPPING 1213070 1150494 62576 2424674 772132 1652542 59645571 47219436 12426135 0 X 0 0 21363864 16061693 0 0 1402453 921302 0 0 0 0 0 0 223655 163357 1209481 1567731 55363542 40911768 14814221 14451774 93414462 93172013 111944894 110182329 0 0 0 0 74008 1680008 244447038 238200207 12204969 5218916 0 0 3053317 3199262 0 0 0 0 0 0 0 0 0 0 14588322 16997709 29846608 25415887 X 214600430 212784320 0 0 0 0 214600430 212784320 244447038 238200207 X 17569 -985740 -847939 X X false true X true false X 0 0 0 0 0 0 46571081 45718684 45879062 49353475 48972915 236495217 0 0 0 46571081 45718684 45879062 49353475 48972915 236495217 0 0 0 236495217 2910434 2942706 1961013 1408003 1455836 10677992 0 2910434 2942706 1961013 1408003 1455836 10677992 0 5371100 5123555 4918016 4488802 4651900 24553373 54852615 53784945 52758091 55250280 55080651 271726582 0.87034 0.86514 0.03930 0.04757 X SCHEDULE A, PART III, LINE 12 INCLUDED ON FORM 990, PART VIII, LINE 7D IS $5,153,248 OF NET GAIN FROM 230595 640623 871218 4233628 17018697 10584236 10668089 62712 18387215 16092450 2357477 14790072 14235082 554990 14451774 HEDGE FUNDS 33087816 F INTERNATIONAL EQUITY FUNDS 29777135 F US EQUITY FUNDS 21374303 F PRIVATE EQUITY FUNDS 14294935 F FIXED INCOME FUNDS 11648140 F 110182329 0 ACCRUED POSTRETIREMENT BENEFIT 16692306 ACCRUED POSTRETIREMENT BENEFIT 221326 CURRENT PORTION OF LT CAPITAL 27690 LONG TERM PORTION OF LT CAPITA 56387 16997709 X 56388436 -985740 570759 -414981 56803417 2859723 2859723 59663140 57356607 570759 570759 56785848 2859723 2859723 59645571 PART XI, LINE 2D OTHER: COST OF GOODS SOLD $255,818 RENTAL EXPENSE 314,941 TOTAL $570,759 PART XI, LINE 4B OTHER: LSAT AND CAS FEE WAIVERS $2,859,723 PART XII, LINE 2D OTHER: COST OF GOODS SOLD $255,818 RENTAL EXPENSE 314,941 TOTAL $570,759 PART XII, LINE 4B OTHER: LSAT AND CAS FEE WAIVERS $2,859,723 PART X, LINE 2 MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE ORGANIZATION AND HAS CONCLUDED THAT AS OF JUNE 30, 2015 AND 2014, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE THE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION RECOGNIZES ACCRUED INTEREST OR PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY. THERE WERE NO INCOME-TAX RELATED INTEREST OR PENALTIES RECORDED FOR THE YEARS ENDED JUNE 30, 2015 AND 2014. true Central America and the Caribbean 0 0 Program Services ADMINISTER TEST 1399 East Asia and the Pacific 0 0 Program Services ADMINISTER TEST 126704 Europe (Including Iceland and Greenland) 0 0 Program Services ADMINISTER TEST 54367 Middle East and North Africa 0 0 Program Services ADMINISTER TEST 12361 North America 0 0 Program Services ADMINISTER TEST 346545 Russia and the Newly Independent States 0 0 Program Services ADMINISTER TEST 5515 South America 0 0 Program Services ADMINISTER TEST 2823 South Asia 0 0 Program Services ADMINISTER TEST 13495 Sub-Saharan Africa 0 0 Program Services ADMINISTER TEST 4551 0 0 0 0 567760 567760 Europe (Including Iceland and Greenland) research 115181 CHECK Europe (Including Iceland and Greenland) research 76020 check North America Research 8759 check 3 true false false false true false SCHEDULE F, PART I, LINE 2: GRANTS FOR MORE THAN $5,000 ARE INITIALLY REVIEWED BY SPECIAL LSAC SUB-COMMITTEES, IF APPLICABLE, AND ARE THEN REFERRED TO THE DESIGNATED LSAC STANDING COMMITTEE - DIVERSITY INITIATIVES, TEST DEVELOPMENT & RESEARCH (TD&R), OR SERVICES & PROGRAMS (S&P). THE COMMITTEES REVIEW AND DISCUSS GRANT REQUESTS AND MAKE RECOMMENDATIONS TO THE LSAC BOARD OF TRUSTEES FOR FINAL APPROVAL. THE LSAC BOARD HAS THE OPPORTUNITY TO DISCUSS THE GRANT REQUESTS FURTHER PRIOR TO THEIR APPROVAL. UPON APPROVAL, A CONTRACT IS DRAWN UP WHICH STATES THE TERMS AND CONDITIONS OF THE GRANT, INCLUDING DELIVERABLES AND PAYMENT SCHEDULES. THE ACTUAL PAYMENTS ARE MADE BASED UPON THE GRANTEE MEETING THE STATED TERMS OF THE CONTRACT. AN INDIVIDUAL AT LSAC IS DESIGNATED TO FOLLOW UP TO ENSURE THAT THE TERMS OF EACH GRANT CONTRACT ARE MET. true AMERICAN INDIAN LAW CENTER PO BOX 4456 ALBUQUERQUE NM 87196 850250024 501(c)(3) 150000 PROGRAM SERVICE OHIO LAW & LEADERSHIP INSTITUTE 1700 LAKE SHORE DRIVE COLUMBUS OH 43204 264709314 501(c)(3) 105250 PROGRAM SERVICE UNIVERSITY OF BUFFALO 319 OBRIEN HALL BUFFALO NY 14260 161691816 501(c)(3) 100000 PROGRAM SERVICE RUTGERS UNIVERSITY 217 N 5TH STREET CAMDEN NJ 08102 222914122 501(c)(3) 25000 PROGRAM SERVICE SUFFOLK UNIVERSITY 120 TREMONT STREET BOSTON MA 02108 042133255 501(c)(3) 25000 PROGRAM SERVICE STREET LAW 1010 WAYNE AVE SILVER SPRINGS MD 20910 522015256 501(c)(3) 33503 PROGRAM SERVICE NJ LEEP SETON HALL LAW SCHOOL NEWARK NJ 07102 510591204 501(C)(3) 75000 PROGRAM SERVICE UNIVERSITY OF ARKANSAS 1045 W MAPLE ST FAYETTEVILLE AR 72701 716056774 501(C)(3) 100000 PROGRAM SERVICE SUMMER WORK EXPERIENCE IN LAW 225 E6TH STREET CINCINATTI OH 45202 262902937 501(C)(3) 19000 PROGRAM SERVICE UNIVERSITY OF TEXAS 727 E DEAN KEATON ST AUSTIN TX 78705 746056794 501(c)(3) 75000 PROGRAM SERVICES UNIVERSITY OF MISSOURI KC 5100 ROCKHILL DR KANSAS CITY MO 64110 237069620 501(C)(3) 25000 PROGRAM SERVICES COM COLLEGE LEAGUE OF CA 2017 O STREET SACRAMENTO CA 95831 680224448 501(c)(3) 20000 PROGRAM SERVICE DISCOVER LAW GRANTS 662 PENN STREET NEWTOWN PA 18940 501(C)(3) 68170 PROGRAM SERVICE AMERICAN BAR ASSOCIATION 321 N CLARK STREET CHICAGO IL 60611 360723150 501(C)(6) 10000 PROGRAM SERVICE SETON HALL SCHOOL OF LAW 1109 RAYMOND BLVD NEWARK NJ 07102 221500645 501(C)(3) 34350 UNIVERSITY OF CA 11000 KINCROSS AVE LOS ANGELES CA 90095 952250801 501(C)(3) 22284 RESEARCH GEORGETOWN UNIV LAW CENTER 600 NJ AVE NW WASHINGTON DC 20001 530196603 501(C)(3) 20000 AMERICAN BAR FOUNDATION 750 N LAKESHORE DRIVE CHICAGO IL 60611 366110271 501(C)(3) 10000 RESEARCH CENTER FOR THE STUDY OF APPLIED LEGAL EDUCATION 801 MONROE STREET ANN ARBOR MI 48109 300435427 501(C)(3) 6463 RESEARCH 18 1 SCHEDULE I, PART 1, LINE 2: GRANTS FOR MORE THAN $5,000 ARE INITIALLY REVIEWED BY SPECIAL LSAC SUB-COMMITTEES, IF APPLICABLE, AND ARE THEN REFERRED TO THE DESIGNATED LSAC STANDING COMMITTEE - DIVERSITY INITIATIVES, TEST DEVELOPMENT & RESEARCH (TD&R), OR SERVICES & PROGRAMS (S&P). THE COMMITTEES REVIEW AND DISCUSS GRANT REQUESTS AND MAKE RECOMMENDATIONS TO THE LSAC BOARD OF TRUSTEES FOR FINAL APPROVAL. THE LSAC BOARD HAS THE OPPORTUNITY TO DISCUSS THE GRANT REQUESTS FURTHER PRIOR TO THEIR APPROVAL. UPON APPROVAL, A CONTRACT IS DRAWN UP WHICH STATES THE TERMS AND CONDITIONS OF THE GRANT, INCLUDING DELIVERABLES AND PAYMENT SCHEDULES. THE ACTUAL PAYMENTS ARE MADE BASED UPON THE GRANTEE MEETING THE STATED TERMS OF THE CONTRACT. AN INDIVIDUAL AT LSAC IS DESIGNATED TO FOLLOW UP TO ENSURE THAT THE TERMS OF THE GRANT CONTRACTS ARE MET. X X true true X X X X false false false false false false false false false DANIEL O BERNSTINE PRESIDENT 567338 0 0 0 95585 0 20700 0 8659 0 692282 0 0 0 BRUCE M BACHMAN VP INFORMATION SERVICES, CIO 311704 0 0 0 27476 0 20700 0 1076 0 360956 0 0 0 JOAN E VAN TOL GENERAL COUNSEL 273073 0 0 0 27185 0 20700 0 12996 0 333954 0 0 0 MARJORIE LARUE BRITT CFO 270186 0 0 0 14167 0 20700 0 8836 0 313889 0 0 0 PETER J PASHLEY DIRECTOR TESTING & RESEARCH 259367 0 0 0 32330 0 20700 0 1076 0 313473 0 0 0 KENT D LOLLIS DIR DIVERSITY INITIATIVES 212815 0 0 0 25286 0 19153 0 9206 0 266460 0 0 0 TROY LOWRY DIR SOFTWARE SERVICES 210500 0 0 0 6160 0 18945 0 16629 0 252234 0 0 0 CAROL A ROMMELL DIR ADMIN SERVICES 183178 0 0 0 23548 0 16486 0 8659 0 231871 0 0 0 VIVIAN G BOWDEN DIR OF EDUC & PRELAW PROGRAMS 191902 0 0 0 5868 0 17271 0 8659 0 223700 0 0 0 LILY KNEZEVICH DIRECTOR OF TEST DEVELOPMENT 178622 0 0 0 3281 0 16076 0 16259 0 214238 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS: LSAC WILL PAY FOR THE TRANSPORTATION COSTS OF A BOARD MEMBER AND CERTAIN SENIOR STAFF MEMBER'S GUEST TO TWO OF THE THREE BOARD MEETINGS EACH YEAR. BENEFIT IS TREATED AS TAXABLE COMPENSATION IN ACCORDANCE WITH THE CURRENT TAX LAW. PART I, LINE 1A HEALTH OR SOCIAL CLUB DUES: LSAC WILL REIMBURSE ALL EMPLOYEES UP TO $50 PER YEAR FOR MEMBERSHIP FEES IN A HEALTH CLUB, WITH PROOF OF ENROLLMENT. PART II, COLUMN D NON-TAXABLE BENEFITS FOR INDIVIDUALS LISTED INCLUDE medical AND dental benefitS paid by LSAC. FORM 990, PART III, LINE 4D OTHER PROGRAM SERVICES: (EXPENSES $2,703,773 INCLUDING GRANTS $0) (REVENUES $1,850,077) SOLD 132,732 TEST PREPARATION PRODUCTS; 2,628 "WHOLE TEST PREP PACKAGES"; 3,277 "OFFICIAL LSAT HANDBOOKS" AND 1,881 EBOOKS. FORM 990, PART VI, SECTION A, LINE 6: 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 201 U.S. MEMBER LAW SCHOOLS, 17 CANADIAN MEMBER LAW SCHOOLS AND 1 AUSTRALIAN MEMBER LAW SCHOOL. FORM 990, PART VI, SECTION A, LINE 7A: EACH MEMBER LAW SCHOOL HAS ONE VOTE. THE MEMBERS ELECT THE CHAIR OF THE BOARD OF TRUSTEES EVERY OTHER YEAR. FORM 990, PART VI, SECTION B, LINE 11B: LSAC'S FORM 990 IS INITIALLY PREPARED BY THE ORGANIZATION AND THEN SUBMITTED TO THE INDEPENDENT AUDITORS FOR THEIR REVIEW AND FURTHER ASSISTANCE. PRIOR TO FILING, A COPY OF THE FORM IS PROVIDED TO BOTH THE LSAC AUDIT COMMITTEE AND THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C: 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 FOR LSAC TRUSTEES AND OTHER VOLUNTEERS" AND ASKED TO REVIEW, DISCLOSE ANY POTENTIAL CONFLICTS AND SIGN AN ACKNOWLEDGEMENT FORM THAT IS MAINTAINED BY LSAC'S GENERAL COUNSEL. IN JULY OF EACH YEAR, OFFICERS AND KEY LSAC STAFF MEMBERS ARE PROVIDED A COPY OF THE COUNCIL'S CONFLICT OF INTEREST POLICY AND OTHER KEY POLICIES AND ARE ASKED TO REVIEW, DISCLOSE ANY POTENTIAL CONFLICTS AND SIGN AN ACKNOWLEDGEMENT FORM THAT IS MAINTAINED BY HUMAN RESOURCES. FORM 990, PART VI, SECTION B, LINE 15: THE ORGANIZATION APPOINTS AN EXECUTIVE COMPENSATION COMMITTEE, NORMALLY 3-5 MEMBERS DRAWN 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 OF STAFF. INCREASES OR ADJUSTMENTS INCLUDE PROMOTIONS AS WELL AS INCREASES BASED ON MERIT AND MARKET CONDITIONS. FORM 990, PART VI, SECTION C, LINE 19: LSAC MAKES ITS GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. Form 990, Part XI, Line 9 Other changes in net assets or fund balances: Postretirement benefits - related changes other than net periodic postretirement benefit costs ($847,939).