Each word (except the first few) clues a pair of letters adjacent in the alphabet. After grouping the pairs by whether they're in forward or reverse alphabetical order, reading down suitably chosen columns gives "MORE THAN JUST COIN".
IAP
GUIDE
SAYS
NM NANOMETER
FLIP-FLOP JK
PO BOX
TAN UV
CANONIZED ST
SR SENIOR
WEEKDAY TU
FE IRON
BRUNSWICK BC
UT DO
NORWAY NO
IH TFP
BA BOEING
HAWAII HI
ON BAALBEK
MINNESOTA MN
The first few words in the puzzle hint to look in the MIT IAP Guide. The relevant sentence from the description in the "Umpteenth Annual MIT Mystery Hunt" entry in the 1999 IAP Guide is: "And why does it seem like the loot is more than just the coin?"
So the answer is LOOT.