efile Public Visual Render
ObjectId: 201523069349301462 - Submission: 2015-11-02
TIN: 13-1623965
Form
990
Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private
foundations)
Do not enter social security numbers on this form as it may be made public.
Information about Form 990 and its instructions is at
www.IRS.gov/form990
.
OMB No. 1545-0047
20
14
Open to Public Inspection
A
For the 2014 calendar year, or tax year beginning
07-01-2014
, and ending
12-31-2014
B
Check if applicable:
Address change
Name change
Initial return
Final return/terminated
Amended return
Application pending
C
Name of organization
College Entrance Examination Board
Doing business as
The College Board
Number and street (or P.O. box if mail is not delivered to street address)
250 Vesey Street
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
New York
,
NY
10281
D Employer identification number
13-1623965
E Telephone number
(212) 713-8000
G
Gross receipts $
336,341,507
F
Name and address of principal officer:
David Coleman
250 Vesey Street
New York
,
NY
10281
I
Tax-exempt status:
501(c)(3)
501(c)
(
)
(insert no.)
4947(a)(1)
or
527
J
Website:
www.collegeboard.org
H(a)
Is this a group return for
subordinates?
Yes
No
H(b)
Are all subordinates
included?
Yes
No
If "No," attach a list. (see instructions)
H(c)
Group exemption number
K
Form of organization:
Corporation
Trust
Association
Other
L
Year of formation:
1900
M
State of legal domicile:
NY
Part I
Summary
1
Briefly describe the organization’s mission or most significant activities:
Founded in 1900, the College Board was created to expand access to higher education. We are a mission-driven, membership organization made up of over 6,000 of the world's leading colleges, schools, and other educational organizations. Through our programs and initiatives, we challenge all students to own their future by practicing hard and taking advantage of every opportunity they earn. We serve more than 7 million students and parents, 23,000 high schools, and 3,900 colleges and universities in over 180 countries, as well as policymakers on the national and state levels. Our primary goals are to improve college and career readiness and increase access to opportunity for all students through focused assessments, rigorous instruction, personalized practice, breaking barriers to college entry, and access to better planning tools and skills needed most for tomorrow's jobs.
2
Check this box
3
Number of voting members of the governing body (Part VI, line 1a)
........
3
31
4
Number of independent voting members of the governing body (Part VI, line 1b)
.....
4
30
5
Total number of individuals employed in calendar year 2014 (Part V, line 2a)
......
5
1,576
6
Total number of volunteers (estimate if necessary)
.............
6
473
7a
Total unrelated business revenue from Part VIII, column (C), line 12
........
7a
895,540
b
Net unrelated business taxable income from Form 990-T, line 34
.........
7b
0
Prior Year
Current Year
8
Contributions and grants (Part VIII, line 1h)
.........
8,058,498
3,923,401
9
Program service revenue (Part VIII, line 2g)
.........
813,419,085
261,945,599
10
Investment income (Part VIII, column (A), lines 3, 4, and 7d )
....
19,195,407
49,291,302
11
Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)
0
0
12
Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)
840,672,990
315,160,302
13
Grants and similar amounts paid (Part IX, column (A), lines 1–3 )
...
909,647
258,397
14
Benefits paid to or for members (Part IX, column (A), line 4)
.....
0
0
15
Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)
199,254,431
103,226,903
16a
Professional fundraising fees (Part IX, column (A), line 11e)
.....
0
0
b
Total fundraising expenses (Part IX, column (D), line 25)
153,747
17
Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)
....
541,614,047
253,311,241
18
Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)
741,778,125
356,796,541
19
Revenue less expenses. Subtract line 18 from line 12
.......
98,894,865
-41,636,239
Beginning of Current Year
End of Year
20
Total assets (Part X, line 16)
.............
1,051,239,889
996,702,001
21
Total liabilities (Part X, line 26)
.............
202,733,948
201,113,909
22
Net assets or fund balances. Subtract line 21 from line 20
.....
848,505,941
795,588,092
Part II
Signature Block
Sign Here
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
2015-11-02
Signature of officer
Date
Martha Stratis
Chief Accounting Officer
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Travis Patton
Preparer's signature
Travis Patton
Date
2015-04-22
Check
if
self-employed
PTIN
P00369623
Firm's name
PricewaterhouseCoopers LLP
Firm's EIN
13-4008324
Firm's address
600 13th Street NW Suite 1000
Washington
,
DC
20005
Phone no.
(202) 414-1000
May the IRS discuss this return with the preparer shown above? (see instructions)
..........
Yes
No
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form
990
(2014)
Page 2
Form 990 (2014)
Page
2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III
..............
1
Briefly describe the organization’s mission:
Our mission is to serve over 6,000 members and connect more than 7 million students to college success and career opportunity. Through our programs and initiatives, we challenge all students to own their future by practicing hard and taking advantage of every opportunity they earn.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ?
....................
Yes
No
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services?
..........................
Yes
No
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a
(Code:
) (Expenses $
144,540,929
including grants of $
) (Revenue $
189,672,000
)
ASSESSMENTS: THE COLLEGE BOARD IS COMMITTED TO DELIVERING FOCUSED, CLEAR, AND USEFUL ASSESSMENTS THAT REFLECT WHAT STUDENTS ARE ALREADY LEARNING IN THEIR CLASSROOMS. WORKING TOGETHER, COLLEGE BOARD ASSESSMENTS PROVIDE BENCHMARKS AND CONSISTENT FEEDBACK FOR MEASURING STUDENT PROGRESS OVER TIME, ALLOWING TEACHERS TO ACCELERATE STUDENTS WHO ARE EITHER AHEAD OR BEHIND. FEE WAIVERS AND DISCOUNTS OF $78 MILLION WERE PROVIDED TO UNDERREPRESENTED STUDENTS DURING FY14. * REDESIGNED SAT + PSAT/NMSQT: MORE THAN EVER, THESE EXAMS WILL BE FOCUSED ON THE SKILLS AND KNOWLEDGE EVIDENCE SHOWS IS NECESSARY FOR COLLEGE AND CAREER SUCCESS. 1.67 MILLION STUDENTS IN THE CLASS OF 2014 TOOK THE SAT; 47.5% OF TEST TAKERS WERE MINORITY STUDENTS. THE COLLEGE BOARD PROVIDED FREE PREPARATION RESOURCES AND TESTING FOR 23.6% OF SAT TAKERS. THE PSAT/NMSQT WAS TAKEN BY OVER 3.86 MILLION STUDENTS IN OVER 24,000 SCHOOLS. MORE THAN 63.4 MILLION PEOPLE VISITED THE COLLEGE BOARD'S WEBSITE TO ACCESS FREE INFORMATION ON COLLEGE PREPARATION AND ACCESS. * COLLEGE APPLICATION FEE WAIVERS: EVERY INCOME-ELIGIBLE SENIOR WHO TAKES THE SAT OR AN SAT SUBJECT TEST USING A FEE WAIVER NOW DIRECTLY RECEIVES FOUR COLLEGE APPLICATION FEE WAIVERS, WHICH MAY BE USED TO APPLY TO 2,000 PARTICIPATING COLLEGES. * EXPANDED SCHOLARSHIP OPPORTUNITIES: THE COLLEGE BOARD HAS PARTNERED WITH FIVE LEADING SCHOLARSHIP PROVIDERS - THE AMERICAN INDIAN GRADUATE CENTER (AIGC), ASIAN & PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND (APIASF), HISPANIC SCHOLARSHIP FUND (HSF), JACK KENT COOKE FOUNDATION (JKCF), AND THE UNITED NEGRO COLLEGE FUND (UNCF) - TO EXPAND ACCESS TO $185 MILLION IN EXISTING SCHOLARSHIP DOLLARS TO LOW-INCOME AND UNDERREPRESENTED STUDENTS. BY USING INFORMATION FROM THE PSAT/NMSQT TO ENHANCE RECRUITMENT EFFORTS, AIGC, APIASF, HSF, THE JACK KENT COOKE FOUNDATION, AND UNCF WILL HAVE ACCESS TO A BETTER REPRESENTATION OF ELIGIBLE STUDENTS FROM HIGH SCHOOLS ACROSS THE COUNTRY. * REALIZE YOUR COLLEGE POTENTIAL AND APPLY TO 4 OR MORE: USING RESULTS FROM THE SAT AND PSAT/NMSQT, THE COLLEGE BOARD DELIVERS PERSONALIZED, ACTIONABLE INFORMATION ABOUT THE COLLEGE APPLICATION PROCESS TO HIGH-ACHIEVING, LOW-INCOME STUDENTS THROUGH OUR REALIZE YOUR COLLEGE POTENTIAL INITIATIVE. IN ADDITION, OUR APPLY TO 4 OR MORE CAMPAIGN ENCOURAGES STUDENTS TO APPLY TO FOUR OR MORE COLLEGES (I.E., TO AT LEAST ONE SAFETY, TWO GOOD FITS, AND ONE REACH) AND INCREASES THEIR PROPENSITY TO ENROLL AND SUCCEED IN A COLLEGE THAT IS A GOOD FIT FOR THEM. * PARTNERSHIP WITH KHAN ACADEMY: THE COLLEGE BOARD HAS PARTNERED WITH KHAN ACADEMY TO OFFER FREE, PERSONALIZED, INTERACTIVE TEST PRACTICE MATERIALS FOR BOTH THE REDESIGNED PSAT/NMSQT AND THE REDESIGNED SAT. RESULTS FROM THE PSAT/NMSQT WILL BE USED TO DESIGN PERSONALIZED PRACTICE FOR STUDENTS. * COLLEGE-LEVEL EXAMINATION PROGRAM (CLEP): CLEP IS THE MOST WIDELY ACCEPTED CREDIT-BY-EXAMINATION PROGRAM, AVAILABLE AT MORE THAN 2,900 COLLEGES AND UNIVERSITIES. IT ENABLES STUDENTS OF ALL AGES AND BACKGROUNDS TO EARN COLLEGE CREDIT BY DEMONSTRATING THEIR MASTERY OF COLLEGE-LEVEL MATERIAL.
4b
(Code:
) (Expenses $
60,529,603
including grants of $
117,870
) (Revenue $
36,903,730
)
AP & INSTRUCTION: * THE COLLEGE BOARD'S UNIQUE INSTRUCTION OFFERINGS PLAY A KEY ROLE IN PREPARING STUDENTS FOR SUCCESS IN COLLEGE AND CAREER. SPRINGBOARD: SPRINGBOARD'S RESEARCH-BASED ENGLISH LANGUAGE ARTS AND MATHEMATICS CURRICULA ARE DESIGNED TO PREPARE STUDENTS FOR SUCCESS IN ADVANCED PLACEMENT COURSES, COLLEGE, AND CAREER. * ADVANCED PLACEMENT PROGRAM: FOUNDED IN 1955, AP GIVES STUDENTS THE OPPORTUNITY TO ACCESS COLLEGE-LEVEL WORK IN HIGH SCHOOL; STUDENTS WHO SUCCEED IN AP ARE MORE LIKELY TO SUCCEED IN COLLEGE AND HAVE POTENTIAL TO SAVE TIME AND MONEY THROUGH PLACEMENT AND CREDIT-GRANTING POLICIES. * AP POTENTIAL: AP POTENTIAL IS A FREE, WEB-BASED TOOL THAT HELPS EDUCATORS INCREASE ACCESS TO AP BY USING PSAT/NMSQT SCORE DATA TO IDENTIFY STUDENTS WITH THE POTENTIAL TO SUCCEED IN AP. * THE COLLEGE BOARD IS EXPANDING CAREER OPPORTUNITY BY GIVING STUDENTS ACCESS TO BETTER PLANNING TOOLS AND THE SKILLS THAT MATTER MOST FOR JOBS OF THE FUTURE, INCLUDING SCIENCE, TECHNOLOGY, ENGINEERING AND MATH (STEM), AND CODING. * FOCUS ON STEM DISCIPLINES: STEM DISCIPLINES ARE ESSENTIAL TO OUR NATION'S ABILITY TO COMPETE IN THE GLOBAL MARKETPLACE. THE COLLEGE BOARD RECENTLY ANNOUNCED THE LAUNCH OF AP COMPUTER SCIENCE PRINCIPLES, A NEW COURSE DESIGNED TO GIVE STUDENTS FOUNDATIONAL COMPUTING SKILLS, AN UNDERSTANDING OF THE REAL-WORLD IMPACT OF COMPUTING APPLICATIONS, AND PROGRAMMING LITERACY. IN ADDITION, MATH AND ANALYSIS ON THE REDESIGNED SAT FOCUSES ON SOLVING PROBLEMS IN SCIENCE, SOCIAL SCIENCE, CAREER SCENARIOS, AND OTHER REAL-WORLD CONTEXTS. * AP STEM ACCESS PROGRAM: IN PARTNERSHIP WITH GOOGLE AND DONORSCHOOSE.ORG, THE COLLEGE BOARD LAUNCHED THE AP STEM ACCESS PROGRAM TO INCREASE THE NUMBER OF UNDERREPRESENTED MINORITY AND FEMALE HIGH SCHOOL STUDENTS WHO PARTICIPATE IN AP COURSES IN STEM DISCIPLINES. * ALL IN: THIS CAMPAIGN IS DESIGNED TO ENSURE THAT 100 PERCENT OF AFRICAN AMERICAN, LATINO, AND NATIVE AMERICAN STUDENTS ENROLL IN AT LEAST ONE AP CLASS IN A SUBJECT FOR WHICH THEY'VE SHOWN POTENTIAL TO SUCCEED.
4c
(Code:
) (Expenses $
14,661,849
including grants of $
117,750
) (Revenue $
27,101,590
)
COLLEGE OPPORTUNITIES & ENROLLMENT: * STUDENT SEARCH SERVICE AND CSS/FINANCIAL AID PROFILE: STUDENT SEARCH SERVICE HELPS INTRODUCE STUDENTS TO HIGHER EDUCATION AND FINANCIAL AID OPPORTUNITIES BY OFFERING THEM THE ABILITY TO PROVIDE PERSONAL AND PREFERENTIAL INFORMATION TO COLLEGES AND SCHOLARSHIP PROGRAMS THAT ARE LOOKING FOR STUDENTS LIKE THEM - ALL AT NO COST TO THE STUDENT. CSS/FINANCIAL AID PROFILE IS USED BY MORE THAN 350 ORGANIZATIONS TO HELP MANAGE THE FINANCIAL AID PROCESS EFFICIENTLY AND EQUITABLY AND TO AWARD NEED-BASED AID TO THE RIGHT STUDENTS AT THE RIGHT TIME.
(Code:
) (Expenses $
81,701,035
including grants of $
22,777
) (Revenue $
8,268,279
)
OTHER SERVICES: -RESEARCH & ADVOCACY- THE COLLEGE BOARD'S RESEARCH AND ADVOCACY EFFORTS ARE RELATED PRIMARILY TO THE AREAS OF: COLLEGE PREPARATION AND ACCESS, COLLEGE AFFORDABILITY AND FINANCIAL AID, COLLEGE ADMISSION AND COMPLETION, AND THE IMPORTANCE OF TEACHERS AND SCHOOL COUNSELORS. -MEMBERSHIP- THE COLLEGE BOARD WORKS TO STRENGTHEN RELATIONSHIPS AMONG MEMBERS TO ACHIEVE OUR SHARED GOALS. THROUGH PROGRAMS, SERVICES AND LARGE-SCALE CONFERENCES, THE COLLEGE BOARD SEEKS TO FOSTER COMMUNITY, EXPAND KNOWLEDGE AND ENHANCE THE PROFESSION. PUERTO RICO AND LATIN AMERICA - ASSESSMENT AND EDUCATIONAL SERVICES.
4d
Other program services (Describe in Schedule O.)
(Expenses $
81,701,035
including grants of $
22,777
) (Revenue $
8,268,279
)
4e
Total program service expenses
301,433,416
Form
990
(2014)
Page 3
Form 990 (2014)
Page
3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?
If "Yes," complete Schedule A
.....................
1
Yes
2
Is the organization required to complete
Schedule B, Schedule of Contributors
(see instructions)?
...
2
Yes
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?
If "Yes," complete Schedule C, Part I
.............
3
No
4
Section 501(c)(3) organizations.
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?
If "Yes," complete Schedule C, Part II
..............
4
Yes
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?
If "Yes," complete Schedule C, Part III
.................
5
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?
If "Yes," complete Schedule D, Part I
..................
6
No
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures?
If "Yes," complete Schedule D, Part II
...
7
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets?
If "Yes," complete Schedule D, Part III
.............
8
No
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services?
If "Yes," complete Schedule D, Part IV
..............
9
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?
If "Yes," complete Schedule D, Part V
......
10
No
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10?
If "Yes," complete Schedule D, Part VI.
...................
11a
Yes
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16?
If "Yes," complete Schedule D, Part VII
.......
11b
Yes
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16?
If "Yes," complete Schedule D, Part VIII
.......
11c
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16?
If "Yes," complete Schedule D, Part IX
............
11d
No
e
Did the organization report an amount for other liabilities in Part X, line 25?
If "Yes," complete Schedule D, Part X
11e
Yes
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)?
If "Yes," complete Schedule D, Part X
11f
No
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If "Yes," complete Schedule D, Parts XI and XII
.................
12a
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year?
If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional
12b
No
13
Is the organization a school described in section 170(b)(1)(A)(ii)?
If "Yes," complete Schedule E
13
No
14a
Did the organization maintain an office, employees, or agents outside of the United States?
.....
14a
No
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?
If "Yes," complete Schedule F, Parts I and IV
.........
14b
Yes
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization?
If “Yes,” complete Schedule F, Parts II and IV
.....
15
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals?
If “Yes,” complete Schedule F, Parts III and IV
...
16
No
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e?
If "Yes," complete Schedule G, Part I
(see instructions)
....
17
No
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a?
If "Yes," complete Schedule G, Part II
............
18
No
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a?
If "Yes," complete Schedule G, Part III
...................
19
No
20a
Did the organization operate one or more hospital facilities?
If "Yes," complete Schedule H
....
20a
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
Form
990
(2014)
Page 4
Form 990 (2014)
Page
4
Part IV
Checklist of Required Schedules
(continued)
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1?
If “Yes,” complete Schedule I, Parts I and II
.....
21
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2?
If “Yes,” complete Schedule I, Parts I and III
........
22
Yes
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees?
If "Yes," complete Schedule J
.......................
23
Yes
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?
If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a
...............
24a
No
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?
...
24b
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?
...............
24c
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?
...
24d
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations.
Did the organization engage in an excess benefit transaction with a disqualified person during the year?
If "Yes," complete Schedule L, Part I
............
25a
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ?
If "Yes," complete Schedule L, Part I
...................
25b
No
26
Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?
If "Yes," complete Schedule L, Part II
................
26
No
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?
If "Yes," complete Schedule L, Part III
.........
27
No
28
Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee?
If "Yes," complete Schedule L,
Part IV
........................
28a
No
b
A family member of a current or former officer, director, trustee, or key employee?
If "Yes," complete Schedule L, Part IV
.....................
28b
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?
If "Yes," complete Schedule L, Part IV
...
28c
No
29
Did the organization receive more than $25,000 in non-cash contributions?
If "Yes," complete Schedule M
..
29
No
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?
If "Yes," complete Schedule M
.............
30
No
31
Did the organization liquidate, terminate, or dissolve and cease operations?
If "Yes," complete Schedule N, Part I
.
31
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?
If "Yes," complete Schedule N, Part II
...........
32
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?
If "Yes," complete Schedule R, Part I
........
33
No
34
Was the organization related to any tax-exempt or taxable entity?
If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1
.........................
34
No
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
No
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)?
If "Yes," complete Schedule R, Part V, line 2
...
35b
36
Section 501(c)(3) organizations.
Did the organization make any transfers to an exempt non-charitable related organization?
If "Yes," complete Schedule R, Part V, line 2
.............
36
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?
If "Yes," complete Schedule R, Part VI
37
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19?
Note.
All Form 990 filers are required to complete Schedule O.
............
38
Yes
Form
990
(2014)
Page 5
Form 990 (2014)
Page
5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V
...........
Yes
No
1a
Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable
..
1a
1,668
b
Enter the number of Forms W-2G included in line 1a.
Enter -0-
if not applicable
.
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?
..................
1c
Yes
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return
..................
2a
1,576
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note.
If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)
2b
Yes
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?
...
3a
Yes
b
If “Yes,” has it filed a Form 990-T for this year?
If “No” to line 3b, provide an explanation in Schedule O
...
3b
Yes
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?
..
4a
Yes
b
If "Yes," enter the name of the foreign country:
VI
,
CA
,
CJ
,
MP
,
UK
,
BF
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?
..
5a
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T?
............
5c
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?
...
6a
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?
......................
6b
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?
....................
7a
No
b
If "Yes," did the organization notify the donor of the value of the goods or services provided?
.....
7b
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?
.........................
7c
No
d
If "Yes," indicate the number of Forms 8282 filed during the year
....
7d
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?
..
7f
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?
......................
7g
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?
..........................
7h
8
Sponsoring organizations maintaining donor advised funds.
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?
.........................
8
9a
Did the sponsoring organization make any taxable distributions under section 4966?
...
9a
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?
...
9b
10
Section 501(c)(7) organizations.
Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12
...
10a
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
11
Section 501(c)(12) organizations.
Enter:
a
Gross income from members or shareholders
.........
11a
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.)
..........
11b
12a
Section 4947(a)(1) non-exempt charitable trusts.
Is the organization filing Form 990 in lieu of Form 1041?
12a
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note.
See the instructions for additional information the organization must report on Schedule O.
13a
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans
....
13b
c
Enter the amount of reserves on hand
............
13c
14a
Did the organization receive any payments for indoor tanning services during the tax year?
.....
14a
No
b
If "Yes," has it filed a Form 720 to report these payments?
If "No," provide an explanation in Schedule O
..
14b
Form
990
(2014)
Page 6
Form 990 (2014)
Page
6
Part VI
Governance, Management, and Disclosure
For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI
..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
31
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
30
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee?
.................
2
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person?
.
3
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed?
...........................
4
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets?
.
5
No
6
Did the organization have members or stockholders?
................
6
Yes
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body?
....................
7a
Yes
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body?
...................
7b
Yes
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body?
.....................
8a
Yes
b
Each committee with authority to act on behalf of the governing body?
............
8b
Yes
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address?
If "Yes," provide the names and addresses in Schedule O
.......
9
No
Section B. Policies
(
This Section B requests information about policies not required by the Internal Revenue Code.
)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates?
............
10a
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form?
............................
11a
Yes
b
Describe in Schedule O the process, if any, used by the organization to review this Form 990.
.....
12a
Did the organization have a written conflict of interest policy?
If "No," go to line 13
.......
12a
Yes
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts?
..........................
12b
Yes
c
Did the organization regularly and consistently monitor and enforce compliance with the policy?
If "Yes," describe in Schedule O how this was done
...................
12c
Yes
13
Did the organization have a written whistleblower policy?
...............
13
Yes
14
Did the organization have a written document retention and destruction policy?
.........
14
Yes
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official
...........
15a
Yes
b
Other officers or key employees of the organization
................
15b
Yes
If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year?
......................
16a
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements?
............
16b
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filed
CA
,
DC
,
OR
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
Own website
Another's website
Upon request
Other (explain in Schedule O)
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
Martha Stratis
250 Vesey Street
New York
,
NY
10281
(212) 713-8000
Form
990
(2014)
Page 7
Form 990 (2014)
Page
7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII
..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a
Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
List all of the organization’s
current
officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.
List all of the organization’s
current
key employees, if any. See instructions for definition of "key employee."
List the organization’s five
current
highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.
List all of the organization’s
former
officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.
List all of the organization’s
former directors or trustees
that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.
List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and Title
(B)
Average hours per week (list any hours for related organizations below dotted line)
(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee)
(D)
Reportable compensation from the organization (W- 2/1099-MISC)
(E)
Reportable compensation from related organizations (W- 2/1099-MISC)
(F)
Estimated amount of other compensation from the organization and related organizations
(1)
SHIRLEY A ORT
TRUSTEE
2.00
.................
X
X
0
0
0
(2)
DAVID COLEMAN
PRESIDENT & CEO/TRUSTEE
40.00
.................
X
X
752,117
0
47,218
(3)
DOUGLAS L CHRISTIANSEN
TRUSTEE
2.00
.................
X
X
0
0
0
(4)
MAGHAN KEITA
TRUSTEE
2.00
.................
X
X
0
0
0
(5)
MARY B NUCCIARONE
TRUSTEE
2.00
.................
X
0
0
0
(6)
NATHAN BROSTROM
TRUSTEE
2.00
.................
X
0
0
0
(7)
WILLIE J GILCHRIST
TRUSTEE
2.00
.................
X
0
0
0
(8)
BARBARA A GILL
TRUSTEE
2.00
.................
X
0
0
0
(9)
LUIS MARTINEZ-FERNANDEZ
TRUSTEE
2.00
.................
X
0
0
0
(10)
PAUL G WEAVER
TRUSTEE
2.00
.................
X
0
0
0
(11)
PAMELA T HORNE
TRUSTEE
2.00
.................
X
0
0
0
(12)
PAUL W SECHRIST
TRUSTEE
2.00
.................
X
0
0
0
(13)
WILLIAM M SCHILLING
TRUSTEE
2.00
.................
X
0
0
0
(14)
TERRY GRIER
TRUSTEE
2.00
.................
X
0
0
0
(15)
JAMES TILTON
TRUSTEE
2.00
.................
X
0
0
0
(16)
PAM PAULSON
TRUSTEE
2.00
.................
X
0
0
0
(17)
PHILIP A BALLINGER
TRUSTEE
2.00
.................
X
0
0
0
Form
990
(2014)
Page 8
Form 990 (2014)
Page
8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
(continued)
(A)
Name and Title
(B)
Average hours per week (list any hours for related organizations below dotted line)
(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee)
(D)
Reportable compensation from the organization (W- 2/1099-MISC)
(E)
Reportable compensation from related organizations (W- 2/1099-MISC)
(F)
Estimated amount of other compensation from the organization and related organizations
(18)
KAREN COOPER
TRUSTEE
2.00
.......................
X
0
0
0
(19)
VON MANSFIELD
TRUSTEE
2.00
.......................
X
0
0
0
(20)
DANIEL R PORTERFIELD PH D
TRUSTEE
2.00
.......................
X
0
0
0
(21)
MICHAEL J SORRELL
TRUSTEE
2.00
.......................
X
0
0
0
(22)
CAESAR T STORLAZZI
TRUSTEE
2.00
.......................
X
0
0
0
(23)
SCOTT VERZYL
TRUSTEE
2.00
.......................
X
0
0
0
(24)
PAMELA AGOYO
TRUSTEE
2.00
.......................
X
0
0
0
(25)
CRAIG BECKER
TRUSTEE
2.00
.......................
X
0
0
0
(26)
JOSEPH DRAGONE
TRUSTEE
2.00
.......................
X
0
0
0
(27)
CHIO FLORES
TRUSTEE
2.00
.......................
X
0
0
0
(28)
KENNETH L ENDER
TRUSTEE
2.00
.......................
X
0
0
0
(29)
KAYA HENDERSON
TRUSTEE
2.00
.......................
X
0
0
0
(30)
MARGIE HUERTA
TRUSTEE
2.00
.......................
X
0
0
0
(31)
PEDRO MARTINEZ
TRUSTEE
2.00
.......................
X
0
0
0
(32)
DOROTHY SEXTON
VP, SECRETARY
40.00
.......................
X
237,207
0
39,897
(33)
JEREMY SINGER
SVP, CHIEF OPERATING OFFICER
40.00
.......................
X
535,727
0
62,015
(34)
NEIL LANE
GENERAL COUNSEL
40.00
.......................
X
416,860
0
53,275
(35)
STEVEN TITAN
VP, TREASURER
40.00
.......................
X
339,352
0
55,794
(36)
TREVOR PACKER
SVP, AP PROGRAMS Position reclassified as non-officer
40.00
.......................
X
371,862
0
40,272
(37)
TERRI SHAW
SENIOR VICE PRESIDENT, CIO
40.00
.......................
X
410,718
0
53,213
(38)
CYNDIE SCHMEISER
CHIEF OF ASSESSMENT
40.00
.......................
X
388,535
0
36,201
(39)
RANJIT SIDHU
SR. VP. STRATEGY & NEW PRODUCT DEVELOPMENT
40.00
.......................
X
341,295
0
53,213
(40)
HAL HIGGINBOTHAM
SVP
40.00
.......................
X
607,342
0
16,232
(41)
John McGrath
SVP,Communications & Marketing Communications
40.00
.......................
X
308,256
0
33,363
(42)
Stephanie Sanford
Chief Global Policy & Advocacy Office of the Chief
40.00
.......................
X
392,602
0
40,357
(43)
Barbara Cooperman
Chief Marketing Officer
40.00
.......................
X
371,918
0
25,191
(44)
James Montoya
VP, Higher Education & Int'l Office of the VP, Higher Ed
40.00
.......................
X
358,479
0
41,022
(45)
TODD HUSTON
SR. VP, STATE AND DISTRICT PARTNERS
40.00
.......................
X
352,166
0
55,714
(46)
JULIET WEISSMAN
VP, Organizational Effectiveness - position reclassified to non-officer
40.00
.......................
X
267,600
0
39,390
(47)
THOMAS HIGGINS
SVP, CHIEF FINANCIAL OFFICER
40.00
.......................
X
750,580
0
14,599
(48)
MARY C SCOTT
VP, MEMBERSHIP Position reclassified as non-officer
40.00
.......................
X
230,444
0
38,588
(49)
TOM RUDIN
SVP, GOVERNMENT RELATIONS
40.00
.......................
X
410,061
0
13,703
1b
Sub-Total
................
c
Total from continuation sheets to Part VII, Section A
....
d
Total (add lines 1b and 1c)
...........
7,843,121
0
759,257
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization
751
Yes
No
3
Did the organization list any
former
officer, director or trustee, key employee, or highest compensated employee on line 1a?
If "Yes," complete Schedule J for such individual
..............
3
Yes
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000?
If "Yes," complete Schedule J for such
individual
...........................
4
Yes
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization?
If "Yes," complete Schedule J for such person
........
5
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address
(B)
Description of services
(C)
Compensation
EDUCATIONAL TESTING SERVICES
4897 COLLECTION CENTER DRIVE
CHICAGO
,
IL
60693
TESTING SERVICES
298,986,988
NCS PEARSON
21866 NETWORK PLACE
CHICAGO
,
IL
60673
TESTING SERVICES
31,240,437
EXPERIS IT SERVICES US LLC
4400 POST OAK PARKWAY
HOUSTON
,
TX
77027
IT CONSULTING
26,563,577
BENCHMARK BUILDERS INC
237 West 35th Street
Suite 901
New York
,
NY
10001
commercial building contractor
10,656,601
ALORICA INC
8151 PETERS ROAD
PLANTATION
,
FL
33324
CALL CENTER SERVICES
10,073,251
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization
287
Form
990
(2014)
Page 9
Form 990 (2014)
Page
9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII
.............
(A)
Total revenue
(B)
Related or
exempt
function
revenue
(C)
Unrelated
business
revenue
(D)
Revenue
excluded from
tax under sections
512-514
1a
Federated campaigns
..
1a
b
Membership dues
..
1b
c
Fundraising events
..
1c
d
Related organizations
1d
e
Government grants (contributions)
1e
1,916,003
f
All other contributions, gifts, grants, and similar amounts not included above
1f
2,007,398
g
Noncash contributions included
in lines 1a-1f:$
h Total.
Add lines 1a-1f
.......
3,923,401
Business Code
2a
AP AND INSTRUCTION
611710
36,903,730
36,903,730
b
ASSESSMENTS
611710
189,672,000
189,672,000
c
COLLEGE OPPORTUNITIES & ENROLLMENT
611710
27,101,590
27,101,590
d
OTHER SERVICES
611710
8,268,279
8,268,279
e
f
All other program service revenue.
0
0
0
0
g Total.
Add lines 2a–2f
.....
261,945,599
3
Investment income (including dividends, interest, and other
similar amounts)
........
6,165,221
895,540
5,269,681
4
Income from investment of tax-exempt bond proceeds
5
Royalties
...........
(ii) Personal
(i) Real
6a
Gross rents
b
Less: rental expenses
c
Rental income or (loss)
0
0
d
Net rental income or (loss)
......
(ii) Other
(i) Securities
7a
Gross amount from sales of assets other than inventory
61,865,148
2,442,140
b
Less: cost or other basis and sales expenses
19,782,871
1,398,334
c
Gain or (loss)
42,082,277
1,043,806
d
Net gain or (loss)
.....
43,126,081
43,126,081
8a
Gross income from fundraising events (not including $
of contributions reported on line 1c).
See Part IV, line 18
....
a
b
Less: direct expenses
...
b
c
Net income or (loss) from fundraising events
..
9a
Gross income from gaming activities.
See Part IV, line 19
...
a
b
Less: direct expenses
...
b
c
Net income or (loss) from gaming activities
..
10a
Gross sales of inventory, less
returns and allowances
..
a
b
Less: cost of goods sold
..
b
c
Net income or (loss) from sales of inventory
..
Business Code
Miscellaneous Revenue
11a
b
c
d
All other revenue
....
0
0
0
0
e
Total.
Add lines 11a–11d
......
0
12
Total revenue.
See Instructions.
.....
315,160,302
261,945,599
895,540
48,395,762
Form
990
(2014)
Page 10
Form 990 (2014)
Page
10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).
Check if Schedule O contains a response or note to any line in this Part IX
..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII.
(A)
Total expenses
(B)
Program service
expenses
(C)
Management and
general expenses
(D)
Fundraising
expenses
1
Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21
17,000
17,000
2
Grants and other assistance to individuals in the United States. See Part IV, line 22
241,397
241,397
3
Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16
4
Benefits paid to or for members
5
Compensation of current officers, directors, trustees, and key employees
....
2,463,569
646,240
1,817,329
6
Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
....
7
Other salaries and wages
77,897,027
52,330,168
25,471,246
95,613
8
Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions)
....
9,550,755
6,334,797
3,202,891
13,067
9
Other employee benefits
.......
8,193,470
5,434,541
2,747,719
11,210
10
Payroll taxes
...........
5,122,082
3,397,360
1,717,714
7,008
11
Fees for services (non-employees):
a
Management
......
b
Legal
.........
255,833
35,420
220,413
c
Accounting
...........
151,662
151,662
d
Lobbying
...........
1,116,199
1,116,199
e
Professional fundraising services.
See Part IV, line 17
f
Investment management fees
......
1,907,542
1,907,542
g
Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)
25,896,602
25,720,010
176,592
0
12
Advertising and promotion
....
1,064,109
1,064,109
13
Office expenses
.......
4,696,272
2,006,529
2,682,596
7,147
14
Information technology
......
10,216,118
6,404,473
3,811,645
15
Royalties
..
16
Occupancy
...........
11,463,498
7,557,124
3,892,735
13,639
17
Travel
............
9,811,736
8,339,805
1,467,517
4,414
18
Payments of travel or entertainment expenses for any federal, state, or local public officials
.
19
Conferences, conventions, and meetings
....
5,079,141
4,517,590
559,902
1,649
20
Interest
...........
21
Payments to affiliates
.......
22
Depreciation, depletion, and amortization
..
9,961,019
6,824,145
3,136,874
23
Insurance
...
650,120
650,120
24
Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a
ASSESSMENT ADMINISTRATION & DEVELOPMENT
158,791,686
158,791,686
b
PRINTING AND PUBLICATIONS
9,240,358
9,168,270
72,088
c
RESEARCH
1,045,246
1,045,246
d
MARKETING
1,336,884
1,113,168
223,716
e
All other expenses
627,216
444,338
182,878
0
25
Total functional expenses.
Add lines 1 through 24e
356,796,541
301,433,416
55,209,378
153,747
26
Joint costs.
Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation.
Check here
if following SOP 98-2 (ASC 958-720).
Form
990
(2014)
Page 11
Form 990 (2014)
Page
11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX
..............
(A)
Beginning of year
(B)
End of year
1
Cash–non-interest-bearing
........
15,788,675
1
22,082,045
2
Savings and temporary cash investments
.........
232,956,261
2
87,823,577
3
Pledges and grants receivable, net
......
4,345,769
3
2,307,116
4
Accounts receivable, net
.............
123,582,337
4
61,384,244
5
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L
0
5
6
Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
0
6
7
Notes and loans receivable, net
....
7
8
Inventories for sale or use
........
8
9
Prepaid expenses and deferred charges
......
12,718,262
9
13,805,955
10a
Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D
10a
128,376,991
b
Less: accumulated depreciation
10b
50,534,509
70,167,102
10c
77,842,482
11
Investments—publicly traded securities
.
343,437,066
11
452,966,521
12
Investments—other securities. See Part IV, line 11
.....
240,723,621
12
270,211,332
13
Investments—program-related. See Part IV, line 11
..
0
13
14
Intangible assets
...............
14
15
Other assets. See Part IV, line 11
...........
7,520,796
15
8,278,729
16
Total assets.
Add lines 1 through 15 (must equal line 34)
...
1,051,239,889
16
996,702,001
17
Accounts payable and accrued expenses
.....
102,380,711
17
55,474,382
18
Grants payable
...
18
19
Deferred revenue
.........
39,273,177
19
79,590,376
20
Tax-exempt bond liabilities
.........
20
21
Escrow or custodial account liability.
Complete Part IV of Schedule D
21
22
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
persons.
Complete Part II of Schedule L
..
0
22
23
Secured mortgages and notes payable to unrelated third parties
..
23
24
Unsecured notes and loans payable to unrelated third parties
..
24
25
Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24).
Complete Part X of Schedule D
61,080,060
25
66,049,151
26
Total liabilities.
Add lines 17 through 25
..
202,733,948
26
201,113,909
Organizations that follow SFAS 117 (ASC 958),
check here
and complete lines 27 through 29, and lines 33 and 34.
27
Unrestricted net assets
842,943,829
27
791,957,898
28
Temporarily restricted net assets
...........
5,562,112
28
3,630,194
29
Permanently restricted net assets
29
Organizations that do not follow SFAS 117 (ASC 958),
check here
and complete lines 30 through 34.
30
Capital stock or trust principal, or current funds
.....
30
31
Paid-in or capital surplus, or land, building or equipment fund
...
31
32
Retained earnings, endowment, accumulated income, or other funds
32
33
Total net assets or fund balances
...........
848,505,941
33
795,588,092
34
Total liabilities and net assets/fund balances
........
1,051,239,889
34
996,702,001
Form
990
(2014)
Page 12
Form 990 (2014)
Page
12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI
..............
1
Total revenue (must equal Part VIII, column (A), line 12)
............
1
315,160,302
2
Total expenses (must equal Part IX, column (A), line 25)
............
2
356,796,541
3
Revenue less expenses. Subtract line 2 from line 1
..............
3
-41,636,239
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A))
..
4
848,505,941
5
Net unrealized gains (losses) on investments
...............
5
-9,355,539
6
Donated services and use of facilities
.................
6
7
Investment expenses
.....................
7
8
Prior period adjustments
.....................
8
9
Other changes in net assets or fund balances (explain in Schedule O)
........
9
-1,926,071
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
795,588,092
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII
.............
Yes
No
1
Accounting method used to prepare the Form 990:
Cash
Accrual
Other
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
Separate basis
Consolidated basis
Both consolidated and separate basis
b
Were the organization’s financial statements audited by an independent accountant?
2b
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
Separate basis
Consolidated basis
Both consolidated and separate basis
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight
of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133?
3a
Yes
b
If "Yes," did the organization undergo the required audit or audits?
If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
No
Form
990
(2014)
Page 13
Form 990 (2014)
Page
13
Additional Data
Software ID:
14000329
Software Version:
2014v1.0
Form 990, Special Condition Description:
Special Condition Description