College Board EIN 13-1623965

College Board

EIN  13-1623965 Higher education institution New York, NY Founded 1900
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 7/3/26 · see original filing: IRS
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Size
$100M+
What they do
Connects students to higher education and career opportunities through college readiness programs, standardized testing like the SAT, Advanced Placement courses, and financial aid planning resources.
Leadership
David Coleman · CEO/Trustee · $2.0M
Money in and out
$1.2B revenue, $963.0M expenses
Bottom line
+18% operating surplus

Connects students to higher education and career opportunities through college readiness programs, standardized testing like the SAT, Advanced Placement courses, and financial aid planning resources. For fiscal year 2024 it reported $1.2B in revenue, $963.0M in expenses, and $2.0B in net assets.Pt I

Financial scale & money flow · FY2024
Total revenue
$1.2B
Pt VIII · Ln 12
Total expenses
$963.0M
Pt IX · Ln 25
Net assets
$2.0B
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $212.0M
Where spending went · Part IX cols B–D
Program services $0.85 Management & general $0.15
Operating surplus
+18%
revenue over expenses, this legal entity▲ +305% vs prior filing year
Payroll share
37%
of this entity's spending is salaries & benefits▲ +8% vs prior filing year
Program spending
85%
of expenses reach program services▲ +1% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$1.2B
FY2024▲ +15%
Expenses
$963.0M
FY2024▼ -1%
Total assets
$2.4B
FY2024▲ +12%
Total liabilities
$431.2M
FY2024▼ -4%
Total revenue
$1.2B
Pt VIII · Ln 12
Total expenses
$963.0M
Pt IX · Ln 25
Net assets
$2.0B
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$212.0M
Total assetsPt X · Ln 16$2.4B
Program-expense ratioPt IX · col B85%
Voting members of governing bodyPt I · Ln 331
Independent voting membersPt I · Ln 429
Mission & Programs · Part III

Where the work happens

3 program services account for $778.7M of program spending, described in the organization's own filed words · FY2024.
01

Advanced Placement Program Founded in 1955, the Advanced Placement program gives students the opportunity to take college-level coursework and exams in high school. Students who succeed on AP exams are more likely to succeed in college and can potentially earn valuable college credit.

$453.3Mprogram expense
02

SAT Suite of Assessments College Board's SAT Suite, which includes the SAT, PSAT/NMSQT, PSAT 10, and PSAT 8/9, measures what research shows students need to succeed after high school. It also connects students with fee waivers, scholarship opportunities, free, personalized practice, and college and career planning tools.

$203.7Mprogram expense
03

College and Career Opportunities and Enrollment By connecting students to colleges and scholarships, and providing access to credit programs, planning tools, and fee waivers for all who need them, College Board is increasing opportunities and breaking down barriers to college and helping students identify career opportunities.

$121.8Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CCollege Board
EINHdr · item D13-1623965
Principal addressHdr · item CNew York, NY
WebsiteHdr · item Jwww.collegeboard.org
Year of formationHdr · item L1900
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B900)
Ruling yearIRS BMFJun 1942

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a31
Independent voting membersPt VI · Ln 1b29
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
CEO/Trustee
$2,019,924Pt VII · Sec A
President
$1,372,586Pt VII · Sec A
Sec'y & Chief of Membership, Governance, & Global Higher Ed -End 11/24
$1,008,022Pt VII · Sec A
Chief Data Officer and SVP, Technology Strategy
$726,464Pt VII · Sec A
SVP, Ap Programs
$657,853Pt VII · Sec A
Chief Legal and Risk Officer
$652,531Pt VII · Sec A
Chief Financial Officer
$591,728Pt VII · Sec A
Chief Communications & Marketing Officer
$580,378Pt VII · Sec A

David Coleman’s $2.0M as CEO/Trustee is at the 90th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
David Coleman$2,019,924$2,071,352$1,826,946$974,201$2,562,624
Jeremy Singer$1,372,586$1,359,800$1,770,946$808,053$1,008,578
Stefanie Sanford$634,985$572,684$461,233$1,008,128
James Montoya$1,008,022$604,702$557,642$453,500$546,156
John McGrath$580,378$565,172$522,519$407,744$940,762
Jeff Olson$726,464$691,996$593,056$422,130$493,265
Trevor Packer$657,853$642,655$600,236$473,642$576,451
Peter Schwartz$652,531$635,867$595,046$476,042$558,235

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Statement of Revenue

Part VIII
Program service revenue$1.0B · 86%
Investment income$169.3M · 14%
Program service revenue86%$1.0B
Investment income14%$169.3M
Contributions & grants$2.5M
— government grantsLn 1e$1.7M
Total revenueLn 12$1.2B

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.85 Management & general $0.15
Program services85%$814.1M
Management & general15%$148.9M
Total functional expensesLn 25$963.0M

Balance Sheet

Part X · end of year
CashLn 1$321.0M
Total assetsLn 16$2.4B
Total liabilitiesLn 26$431.2M
Total net assetsLn 32$2.0B
Months of cash on handcomputed4.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $2.1B · Operating expenses/yr $963.0M
25.7 months
Where the money goes
Program services
Program services $814.1M · Total expenses $963.0M
85%
Management & General
Management & general $148.9M · Total expenses $963.0M
15%
Fundraising
Fundraising $0 · Total expenses $963.0M
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $1.6M
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $2.5M · Total revenue $1.2B
0%
Government reliance
Government grants $1.7M · Total revenue $1.2B
0%
Earned-income share
Program service revenue $1.0B · Total revenue $1.2B
86%
Investment reliance
Investment income $169.3M · Total revenue $1.2B
+14%
Program self-sufficiency
Program service revenue $1.0B · Total expenses $963.0M
105%
Growth & trend
Revenue growth (YoY)
This year $1.2B · Prior year $1.0B
+15%
Revenue CAGR
FY2020 $779.6M · FY2024 $1.2B
+11%
Net-asset trend (YoY)
End of year $2.0B · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.2B · Expenses $963.0M
+18%
Liabilities-to-Assets
Total liabilities — · Total assets $2.4B
Net-asset ratio
Net assets $2.0B · Total assets $2.4B
82%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $451.9M · Other securities (Pt X, ln 12) $1.3B · Total assets (Pt X, ln 16) $2.4B
71%
People & payroll
Highest Reported Total Compensation
Individual David Coleman · Reported title CEO/TRUSTEE · Highest reported compensation $2.0M · Total expenses $963.0M
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $360.5M · Total expenses $963.0M
37%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 85%
Overhead ratio 15%
Fundraising cost ratio 0%
Revenue growth 15%
Investment management fee ratio 1%
Legal fee ratio 0%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$57K
Grants paid · 244 grants · $25.0M · 2020–2024
Unitemized GrantFY2024$2,488,763
Unitemized GrantFY2024$339,838
Unitemized GrantFY2024$111,673
Braven IncorporatedIL · FY2024$102,562
The Trinity Forum INCDC · FY2024$100,000
Education Leaders of Color INCCA · FY2024$100,000
The Ygs GroupFY2024$59,200
Sxsw LLCFY2024$50,000
Jobs for the Future INCMA · FY2024$40,000
See all 244 grants →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$1.2B revenue · viewing · ⤓ 990 PDF
FY2023$1.0B revenue · ⤓ 990 PDF
FY2022$1.0B revenue · ⤓ 990 PDF
FY2021$983.2M revenue · ⤓ 990 PDF
FY2020$779.6M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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