The 990 form for the Educational Testing Service (ETS) for the year ending September 2021 is finally available for public inspection. Currently it is available direct from the IRS. It isn’t yet on Propublica. If you do a search on the IRS website, note that the search engine is case sensitive. If you can’t figure it out, just click here.
A few highlights:
- Total revenue for the year was 1.1 billion dollars, an 11% increase over the previous year. Revenue is down about 11% compared to the final pre-pandemic year.
- Net income is 47.6 million dollars, compared to a 70 million dollar loss the previous year.
- Total assets reached just over 2 billion dollars, a 9% increase over the previous year.
- Salaries and employee benefits for the year totalled 375 million dollars, a 12% decrease from the previous year.
- Two employees received compensation totalling more than one million dollars.
- Pipplet produces income. Good for Pipplet.
These numbers will soon be out of date, as the independent audit of ETS for the year ending September 2022 will likely be available next month.