EDUCATIONAL TESTING SERVICE

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1947

Legal Domicile

Principal Officer

JEFFREY A MELNICK

Phone

6099219000

Tax Period

2023-10-01 to 2024-09-30

EDUCATIONAL TESTING SERVICE, founded in 1947, is a large national nonprofit in the Education sector that reported $1.1B in total revenue in fiscal year 2023.

Mission

EDUCATIONAL TESTING SERVICE (ETS) WAS INCORPORATED IN 1947 BY THE BOARD OF REGENTS FOR THE EDUCATION DEPARTMENT OF THE STATE OF NEW YORK AS AN EDUCATIONAL ORGANIZATION TO ENGAGE IN RESEARCH, SERVICES AND OTHER ACTIVITIES IN THE FIELD OF EDUCATIONAL TESTING. MISSION OUR MISSION IS TO HELP ADVANCE QUALITY AND EQUITY IN EDUCATION BY PROVIDING FAIR AND VALID ASSESSMENTS, RESEARCH AND RELATED SERVICES. OUR PRODUCTS AND SERVICES MEASURE KNOWLEDGE AND SKILLS, PROMOTE LEARNING AND PERFORMANCE, AND SUPPORT EDUCATION AND PROFESSIONAL DEVELOPMENT FOR ALL PEOPLE WORLDWIDE. VISION TO BE THE LEADING ORGANIZATION IN THE WORLD AT PROVIDING THE BEST POSSIBLE ASSESSMENT AND LEARNING PRODUCTS AND SERVICES THAT HELP IMPROVE LIVES AT EVERY STAGE OF THE JOURNEY TO WHAT IS POSSIBLE.

Program Service Accomplishments

Program 1

Expenses: $755,266,122 Revenue: $747,528,961

ASSESSMENT RESEARCH, DEVELOPMENT, AND SCORING EDUCATIONAL TESTING SERVICE ("ETS") CONDUCTS RESEARCH ON STATISTICAL AND PSYCHOMETRIC METHODOLOGY TO ADVANCE THE SCIENCE OF EDUCATIONAL MEASUREMENT AND ENSURE THE TECHNICAL QUALITY AND FAIRNESS OF ETS'S ASSESSMENTS AND ASSESSMENT RELATED SERVICES. THROUGH ITS POLICY EVALUATION AND RESEARCH CENTER, ETS ALSO CONDUCTS RESEARCH AND ANALYSES THAT ADDRESS CHALLENGING EDUCATIONAL POLICY ISSUES. IN CONJUNCTION WITH ITS RESEARCH, ETS DEVELOPS EDUCATIONAL ASSESSMENTS FOR USE BY STATES IN K-12 ASSESSMENT, FOR COLLEGE ADMISSIONS AND THE TRANSITION FROM HIGH SCHOOL TO COLLEGE, FOR GRADUATE AND BUSINESS SCHOOL ADMISSIONS, AND FOR USE IN MEASURING KNOWLEDGE AND SKILLS, PROMOTING LEARNING AND PERFORMANCE, AND SUPPORTING EDUCATION AND PROFESSIONAL DEVELOPMENT. ETS HAS DEVELOPED MORE THAN 200 ASSESSMENT PROGRAMS INCLUDING BUT NOT LIMITED TO THE PRAXIS SERIES, TEST OF ENGLISH AS A FOREIGN LANGUAGE (TOEFL), GRADUATE RECORD EXAMINATION (GRE), TEST OF ENGLISH FOR INTERNATIONAL COMMUNICATION (TOEIC), AND STATE SPECIFIC AND PRE-COLLEGE ASSESSMENTS.IN CONJUNCTION WITH ITS RESEARCH, ETS CONTINUES WORKING COLLABORATIVELY WITH THE NATIONAL CENTER FOR EDUCATION STATISTICS (NCES) ON THE NATIONAL ASSESSMENT OF EDUCATIONAL PROGRESS (NAEP). ADDITIONALLY, ETS'S INSTITUTE FOR STUDENT ACHIEVEMENT (ISA) CONTINUES WORKING IN PARTNERSHIP WITH DISTRICTS AND SCHOOLS TO TRANSFORM UNDERPERFORMING HIGH SCHOOLS INTO RIGOROUS AND SUPPORTIVE LEARNING ENVIRONMENTS THAT PREPARE STUDENTS TO BE COLLEGE READY.EACH YEAR, ETS SCORES AND DELIVERS MILLIONS OF ASSESSMENTS AND SCORE REPORTS TO EXAMINEES AND INSTITUTIONS, IN NUMEROUS FORMATS AND USING A VARIETY OF MEANS.

Program 2

Expenses: $121,037,018 Revenue: $111,800,000

ASSESSMENT ADMINISTRATION & DELIVERY THE GROUP ADMINISTERS TENS OF MILLIONS OF ASSESSMENTS ANNUALLY IN THOUSANDS OF LOCATIONS WORLDWIDE. ETS DOES NOT OWN OR OPERATE ANY TEST CENTERS; INSTEAD ETS...

ASSESSMENT ADMINISTRATION & DELIVERY THE GROUP ADMINISTERS TENS OF MILLIONS OF ASSESSMENTS ANNUALLY IN THOUSANDS OF LOCATIONS WORLDWIDE. ETS DOES NOT OWN OR OPERATE ANY TEST CENTERS; INSTEAD ETS ENGAGES INDEPENDENT 3RD PARTY SERVICE PROVIDERS TO ADMINISTER AND DELIVER ASSESSMENTS AROUND THE WORLD.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $6,265,513

Program Service Revenue $908,964,533

Investment Income $96,182,916

Other Revenue $80,186,498

TOTAL REVENUE $1,091,599,460

Expense Breakdown

Grants Paid $762,250

Salaries & Benefits $412,452,044

Fundraising Expenses $0

Program Expenses $876,303,140

Other Expenses $656,044,591

TOTAL EXPENSES $1,069,258,885

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,091,599,460	$1,058,224,336	+0.0%
Expenses	$1,069,258,885	$1,067,874,626	+0.0%
Net Income	$22,340,575	$-9,650,290	-3.3%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

33057

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$13,577,130

Total Directors

$3,528,952

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMIT SEVAK	PRESIDENT & CEO	40.00	Officer Director	$1,586,797	$146,023	$1,732,820
STEPHANIE WOOD-GARNETT	PRESIDENT (1/5/2024)	40.00	Officer Director	$287,623	$71,148	$358,771
EARL LEWIS	TRUSTEE	2.00	Director	$119,362	$0	$119,362
YOUNGSUK CHI	TRUSTEE	2.00	Director	$117,494	$0	$117,494
JAMES PELLEGRINO	TRUSTEE	2.00	Director	$100,500	$0	$100,500
KURT LANDGRAF	TRUSTEE	2.00	Director	$90,584	$0	$90,584
BARBARA JENKINS	TRUSTEE	2.00	Director	$87,536	$0	$87,536
MILDRED GARCA	TRUSTEE	2.00	Director	$86,701	$0	$86,701
KEVIN GUTHRIE	TRUSTEE	2.00	Director	$84,839	$0	$84,839
MARTHA KANTER	TRUSTEE	2.00	Director	$84,833	$0	$84,833
JEFFREY SINE	TRUSTEE	2.00	Director	$84,418	$0	$84,418
BEVERLY DANIEL TATUM	TRUSTEE	2.00	Director	$78,667	$0	$78,667
LAVERNE SRINIVASAN	TRUSTEE	2.00	Director	$78,499	$0	$78,499
WILHELM KRULL	TRUSTEE	2.00	Director	$73,167	$0	$73,167
CANDACE THILLE	TRUSTEE	2.00	Director	$72,907	$0	$72,907
PATRICIA GANDARA	TRUSTEE	2.00	Director	$72,000	$0	$72,000
MARIET WESTERMANN	TRUSTEE	2.00	Director	$71,000	$0	$71,000
DARIENNE HUDSON	TRUSTEE	2.00	Director	$69,000	$0	$69,000
ANTONIA HERNNDEZ	TRUSTEE	2.00	Director	$65,854	$0	$65,854
SCOTT FORRESTER NELSON	SVP & CHIEF MARKETING OFFICER	40.00	Officer	$1,005,888	$60,973	$1,066,861
SHEREE L GREGORY END 100723	DEPUTY GENERAL COUNSEL & CDO	40.00	Officer	$851,426	$175,353	$1,026,779
JEFFREY ALAN MELNICK	SVP & CHIEF FINANCIAL OFFICER	40.00	Officer	$917,822	$103,702	$1,021,524
RALPH TAYLOR-SMITH	VP CORPORATE DEVELOPMENT	40.00	Officer	$920,837	$49,420	$970,257
ROHIT SHARMA	SVP GLOB HIGHER ED & WORKSKILL	40.00	Officer	$698,525	$77,121	$775,646
KADRIYE ERCIKAN-ALPER	VP PSYCH, STAT & DATA SCIENCE	40.00	Officer	$682,990	$58,577	$741,567
STEVEN E SANTANA	CHIEF INFORMATION OFFICER	40.00	Officer	$645,430	$92,842	$738,272
DENNIS STETZEL	SVP, PRODUCTION & DELIVERY	40.00	Officer	$598,518	$64,886	$663,404
MICHELLE ELAINE FROAH	SVP GLOBAL STRATEGY & GROWTH	40.00	Officer	$622,950	$30,288	$653,238
PAUL GOLLASH	VP, K-12-PRAXIS	40.00	Officer	$571,010	$78,640	$649,650
WALLACE FRANK DALRYMPLE JR	VP, CHIEF SECURITY OFFICER	40.00	Officer	$513,160	$81,749	$594,909
MOHAMMAD KOUSHA	AVP GLOBAL STRAT & GROWTH	40.00	Officer	$466,371	$48,305	$514,676
RUKSHANA K MAZAGONWALLA	VP HR	40.00	Officer	$429,893	$64,018	$493,911
KELLY L ODENHEIMER	AVP MARKETING AND SALES	40.00	Officer	$413,942	$74,328	$488,270
PETER V BETANELI	VP, DEP GEN COUNS & CORP SEC	40.00	Officer	$408,778	$40,300	$449,078
KARA N MCWILLIAMS	VP OF PRODUCTION INNOVATION	40.00	Officer	$374,533	$70,270	$444,803
KAREN ELIZABETH BARTON	VP ASSESSMENT OPERATIONS	40.00	Officer	$162,098	$30,596	$192,694
IRWIN KIRSCH	TYLER CHAIR LG SCALE ASSESSMNT	40.00	Highest	$416,227	$87,721	$503,948
RANDY E BENNETT	FREDERIKSEN CHAIR-ASSESS INNOV	40.00	Highest	$407,651	$71,090	$478,741
ANTHONY PEKALA	AVP IT	40.00	Highest	$362,909	$76,158	$439,067
PETER CHAN	MANAGING DIRECTOR	40.00	Highest	$360,561	$74,835	$435,396
DENNIS J JONES	AVP OCIO (IT)	40.00	Highest	$352,671	$76,953	$429,624
MICHELA ENGLISH	FORMER TRUSTEE	0.00		$28,578	$0	$28,578
JACK HAYON END 30223	FORMER SVP & CHIEF FINANCIAL OFFICER	0.00		$904,529	$289,874	$1,194,403
IDA LAWRENCE END 100323 CHAIR	SR VP-RESEARCH & DEVELOPMENT	40.00		$756,852	$306,137	$1,062,989
SARA LESTER END 30223	FORMER VP HUMAN RESOURCES & LEARNING	0.00		$963,262	$14,458	$977,720
MICHAEL T NETTLES END 10723	FORMER SVP-CTR POLICY EVAL & RSRCH	0.00		$665,409	$25,291	$690,700
WILLIAM C DRAPER JR END 70123	FORMER VP & COO COLLEGE BOARD	0.00		$614,537	$40,144	$654,681
THERESA KERI END 30223	FORMER VP PRODUCTION & DELIVERY	0.00		$596,112	$9,852	$605,964
TRACY HUDE END 30223	FORMER VP - FINANCE	0.00		$462,668	$9,374	$472,042
MICHAEL FREDDO END 20223	FORMER VP & CONTROLLER	0.00		$356,886	$31,039	$387,925
ROSA KIM TILTON END 30223	FORMER VP & CORPORATE SECRETARY	0.00		$314,436	$14,422	$328,858
ANDREAS ORANJE END 32523	FORMER VP ASSESS & LEARNING TECH DEV	0.00		$299,853	$16,138	$315,991
SCOTT V WEAVER END 5322	FORMER VP CHIEF STRATEGY OFFICER	0.00		$166,943	$0	$166,943

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$1,091,599,460	$1,069,258,885	$1,707,663,326	$22,340,575
2023	$1,058,224,336	$1,067,874,626	$1,763,847,528	$-9,650,290
2022	$1,115,319,662	$1,110,255,565	$1,789,019,658	$5,064,097
2021	$1,142,101,466	$1,094,475,746	$2,046,445,267	$47,625,720
2020	$1,027,876,335	$1,098,244,329	$1,873,205,474	$-70,367,994
2019	$1,294,400,343	$1,282,249,119	$2,015,061,092	$12,151,224
2018	$2,126,448,788	$1,328,361,774	$2,035,173,070	$798,087,014