Those with an interest in knowing where all the money goes can now find the College Board 990 filing for the year ending December 2021 at Propublica. Business is good at the venerable non-profit. Revenues hit 983 million dollars, up from 779 million in 2020. Revenue less expenses (profit?) hit 112 million. That’s way up from negative 87 million in 2020.

The total value of the College Board’s assets hit 1.6 billion. That’s up from 1.3 billion in 2020.

Revenue from the AP program is 466 million. Revenue from the SAT program is 280 million.

The Board’s famous “Central America and the Caribbean” investments are now valued at 245 million.

CEO David Coleman received total compensation of 1.2 million dollars.

Much has been written (but not enough) about how the College Board has been bringing its programs back in-house, but they still paid ETS 298 million dollars for “testing services” in the year, which accounts for 34% of their total expenses (and 26% of ETS’s total revenues). That’s way down from a peak of 367 million in 2017… but still a huge amount of money. I’ll keep an eye on that number as the College Board continues to change how the SAT and PSAT are done. I’m curious what ETS actually does for the College Board at this point.

I tweeted this news at Annie Abrams, author of Shortchanged, and she pointed out:

$2,048,678 spent on “Direct contact with legislators, their staffs, government officials, or a legislative body”; $100k to JFF (; $50k to Jeb Bush’s Excellence in Ed (

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