Hey, it’s my third favorite day of the year – the day of the ETS annual audit!

You can grab it by searching the Federal Audit Clearinghouse.  It will likely be up on ProPublica later this month.

Here’s what I learned:

  • ETS’s total assets are up about 10% to $2,083,345,000.  I believe that is an all-time high for ETS.
  • Operating revenues are up about 5% to $1,071,304.  That is definitely not an all-time high.
  • Operating expenses are up very slightly.  
  • ETS’s investments are valued at $1,627,711. That is an increase of 10%.
  • The year’s acquisitions are described, but they aren’t specifically named.  Nothing seems out of the ordinary, though.  I think they refer to (in order): Pipplet, CIEE, Vericant and GradSchoolMatch.
  • Some divestures are described.  I have no idea what they refer to.
  • ETS’s effective tax rate was 1.7% in 2021, which is up from 2020 when it was… lower than that.

Information about ETS’s current financial situation is limited to this audit as, sadly, publication of 990 forms from the IRS is delayed.  But if you want to go digging into old data, you can do so over here.

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