While we are on the topic of American testing non-profits and their finances, it is worth taking a moment to glance at the latest 990 form from the GMAC. It covers the year ending December 2024 (I think it was published earlier this month). They lost 6.8 million USD on the year.
Program service revenues for the year (which come from the GMAT, NMAT and “other services” for schools and test takers) were 56.4 million USD for the year. Compare that to 89.9 million USD for the final pre-pandemic year.
We see it again and again: people are just not taking the tests sold by these organizations like they used to.
Meanwhile, GMAC has net assets of 164.2 million USD. That’s down from 174.8 before the pandemic. The good news for GMAC is that those assets are mostly in cash and publicly traded securities. These can easily be used to cover losses, so they can go on losing money for decades without having to worry about future unknowns.