After a very long delay, the IRS finally processed the 990 form submitted by the Educational Testing Service for the year ending September 2020. If you want to know where all the money goes (and comes from) you can check it out via ProPublica. A few highlights:
- Revenue was about 1.02 billion dollars, a 20% decrease from the previous year.
- Revenue less expenses was about -70 million dollars.
- Total assets under control of ETS were valued at about 1.8 billion dollars.
- The top earner was president Walt Macdonald, with a total compensation of about 1.4 million dollars.
- The Chauncey Hotel and Conference center brought in revenues of 1.5 million dollars.
- About $47,000 was spent on grassroots lobbying.
- The value of ETS’s land (not counting the buildings) was listed at $1.9 million.
- The value of ETS’s investments in Central America and the Caribbean is listed at about 171 million dollars. I chuckled. You bet I did.
As always, I don’t mean to make light of anything. I just feel it is critically important that we pay close attention to our nation’s wonderful non-profits and the valuable work they do.
Meanwhile, if you want a spoiler for the 2021 forms, you can already read the independent audit of ETS for that year.