College Board FY2022 filing

Tax-deductible

New York, NY501(c)(3)Since 1900EducationEIN 13-1623965

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College Board is a mission-driven not-for-profit organization that connects students to college success and opportunity. Founded in 1900, College Board was created to expand access to higher education. Today, the membership association is made up of over 6,000 of the world's leading educational institutions and is dedicated to promoting excellence and equity in education. Each year, College Board helps more than seven million students prepare for a successful transition to college through programs and services in college readiness and college success-including the SAT, the Advanced Placement Program, and BigFuture. The organization also serves the education community through research and advocacy on behalf of students, educators, and schools. For further information, visit collegeboard.org

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$10.5M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $86.6M a year · 9% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$10.5M
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $57K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$457.5M
23% of total assets
Looks good: liabilities are 23% of assets; 50% or less.
Pt X · Ln 26
Independent board members
30
of 31 voting members
Looks good: 30 of 31 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.0B
+6% vs prior year
Spent
$894.4M
To programs
86%
Net assets
$1.6B
By yearFY2020–FY2024
Revenue
$1.0B
FY2022▲ +6%
Revenue by fiscal year
FY2020$779.6M
FY2021$983.2M
FY2022$1.0B
FY2023$1.0B
FY2024$1.2B
Expenses
$894.4M
FY2022▲ +3%
Expenses by fiscal year
FY2020$862.4M
FY2021$870.8M
FY2022$894.4M
FY2023$973.7M
FY2024$963.0M
Net assets
$1.6B
FY2022▼ -7%
Net assets by fiscal year
FY2020$1.4B
FY2021$1.7B
FY2022$1.6B
FY2023$1.7B
FY2024$2.0B

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1942.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $767.5M Management & general 14% · $126.8M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

54 people listed on the 990; $10.5M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/Trustee
$1,826,946Pt VII · Sec A
President
$1,770,946Pt VII · Sec A
SVP, Ap Programs
$600,236Pt VII · Sec A
Chief Risk Officer & General Counsel
$595,046Pt VII · Sec A
Chief Data Officer and SVP, Technology Strategy
$593,056Pt VII · Sec A
Chief of Global Policy, Advocacy & Communications
$572,684Pt VII · Sec A
Sec'y & Chief of Membership, Governance, & Global Higher Ed
$557,642Pt VII · Sec A
Chief Communications & Marketing Officer
$522,519Pt 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.

See College Board executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

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.

Provided by the organization

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3 programs · $727.2M · in their own filed words · FY2022
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.

$381.5Mprogram 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.

$257.3Mprogram 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.

$88.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

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 →

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.0B
Ln 12
Fees for servicesLn 2g$908.5M
Investment incomeLn 3$127.0M
Gifts and grantsLn 1h$7.1M
Money outPt IX
$894.4M
Ln 25
Programscol B$767.5M
Managementcol C$126.8M
Owns and owesPt X
$1.6B
net assets · Ln 32
Cash and savingsLn 1–2$384.2M
Total assetsLn 16$2.0B
LiabilitiesLn 26$457.5M
PeoplePt VI, VII
54
listed · VII A
PaidVII A16
Voting boardVI 1a31
IndependentVI 1b30
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$7.1M
Government grantsLn 1e$5.2M
Fees for servicesLn 2g$908.5M
Investment incomeLn 3$127.0M
Gains on assetsLn 7$107.2M
Total revenueLn 12$1.0B
Assets in detailPt X, end of year
CashLn 1$5.9M
SavingsLn 2$378.3M
Cash and savings togetherLn 1–2$384.2M
InvestmentsLn 11–13$1.22B
Land, buildings, equipmentLn 10c$94.7M
Other assetsLn 15$184.9M
Total assetsLn 16$2.0B
LiabilitiesLn 26$457.5M
Net assetsLn 32$1.6B
OperationsPt I, VI
EmployeesI 51,968
VolunteersI 6583
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$253.0M$384.2M
InvestmentsLn 11–13$1.44B$1.22B
Land, buildings, equipmentLn 10c$89.2M$94.7M
Total assetsLn 16$1.95B$2.01B
LiabilitiesLn 26$286.8M$457.5M
Net assetsLn 32$1.67B$1.56B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$821K$821K
Grants to domestic individualsLn 2$4.4M$4.4M
Pay of current officers, directors and key staffLn 5$9.0M$1.6M$7.4M
Other salaries and wagesLn 7$232.9M$171.5M$61.4M
Pension plan contributionsLn 8$23.5M$17.1M$6.4M
Other employee benefitsLn 9$17.5M$12.8M$4.7M
Payroll taxesLn 10$17.1M$12.3M$4.8M
Legal feesLn 11b$1.6M$1.2M$362K
Accounting feesLn 11c$611K$611K
Lobbying feesLn 11d$814K$814K
Investment management feesLn 11f$11.1M$11.1M
Other fees for servicesLn 11g$40.6M$40.6M$0$0
Advertising and promotionLn 12$4.6M$4.6M
Office expensesLn 13$7.5M$6.3M$1.1M
Information technologyLn 14$38.9M$27.7M$11.2M
OccupancyLn 16$25.0M$17.9M$7.1M
TravelLn 17$9.3M$7.6M$1.7M
Conferences, conventions and meetingsLn 19$6.1M$5.6M$526K
Depreciation, depletion and amortizationLn 22$20.2M$15.1M$5.1M
InsuranceLn 23$2.1M$2.1M
Other expenses (24a–d)Ln 24$420.7M$420.3M$479K
All other expensesLn 24e$232K$149K$82K$0
Total functional expensesLn 25$894.4M$767.5M$126.8M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.2B$963.0M$212.0M$2.0B 990 PDF
FY2023 $1.0B$973.7M$45.4M$1.7B 990 PDF
FY2022 Viewing $1.0B$894.4M$145.8M$1.6B 990 PDF
FY2021 $983.2M$870.8M$112.4M$1.7B 990 PDF
FY2020 $779.6M$862.4M−$82.8M$1.4B 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (4 parts)
Part VIII · Statement of revenue $1,040,203,098 across 8 lines filed
VIII-1e Government grants$5,176,907
VIII-1f All other contributions, gifts and grants$1,898,915
VIII-1h Total contributions, gifts and grants$7,075,822
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $908,477,178$908,477,178
VIII-3 Investment incomeUnrelated business $2,017,226 · Excluded from tax $17,753,400$19,770,626
VIII-6 Net rental income or lossExcluded from tax −$2,306,906−$2,306,906
VIII-7 Net gain or loss on sales of assetsUnrelated business $5,985,961 · Excluded from tax $101,200,417$107,186,378
VIII-12 Total revenueRelated to mission $908,477,178 · Unrelated business $8,003,187 · Excluded from tax $116,646,911$1,040,203,098
Part IX · Statement of functional expenses $894,366,567 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $820,791$820,791
IX-2 Grants to domestic individualsPrograms $4,418,532$4,418,532
IX-5 Pay of current officers, directors and key staffPrograms $1,570,913 · Management $7,397,313$8,968,226
IX-7 Other salaries and wagesPrograms $171,491,430 · Management $61,404,260$232,895,690
IX-8 Pension plan contributionsPrograms $17,098,824 · Management $6,405,869$23,504,693
IX-9 Other employee benefitsPrograms $12,830,593 · Management $4,664,096$17,494,689
IX-10 Payroll taxesPrograms $12,268,547 · Management $4,788,403$17,056,950
IX-11b Legal feesPrograms $1,228,513 · Management $361,513$1,590,026
IX-11c Accounting feesManagement $611,234$611,234
IX-11d Lobbying feesManagement $813,842$813,842
IX-11f Investment management feesManagement $11,052,474$11,052,474
IX-11g Other fees for servicesPrograms $40,604,374 · Management $0 · Fundraising $0$40,604,374
IX-12 Advertising and promotionPrograms $4,591,060$4,591,060
IX-13 Office expensesPrograms $6,336,550 · Management $1,127,839$7,464,389
IX-14 Information technologyPrograms $27,663,210 · Management $11,205,625$38,868,835
IX-16 OccupancyPrograms $17,914,928 · Management $7,054,739$24,969,667
IX-17 TravelPrograms $7,612,920 · Management $1,698,122$9,311,042
IX-19 Conferences, conventions and meetingsPrograms $5,592,709 · Management $526,393$6,119,102
IX-22 Depreciation, depletion and amortizationPrograms $15,082,775 · Management $5,116,164$20,198,939
IX-23 InsuranceManagement $2,050,265$2,050,265
IX-24 Other expenses (24a–d)Programs $420,251,688 · Management $478,532$420,730,220
IX-24e All other expensesPrograms $149,189 · Management $82,338 · Fundraising $0$231,527
IX-25 Total functional expensesPrograms $767,527,546 · Management $126,839,021 · Fundraising $0$894,366,567
Part X · Balance sheet $2,013,045,133 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $7,977,853$5,937,461
X-2 Savings and temporary cash investmentsStart of year $244,973,122$378,298,490
X-3 Pledges and grants receivableStart of year $2,685,214$1,499,288
X-4 Accounts receivableStart of year $143,391,042$111,810,600
X-9 Prepaid expenses and deferred chargesStart of year $17,182,943$20,190,371
X-10c Land, buildings and equipment, netStart of year $89,163,185$94,743,794
X-11 Publicly traded securitiesStart of year $257,315,419$243,764,106
X-12 Other securitiesStart of year $1,159,002,131$946,183,660
X-13 Program-related investmentsStart of year $24,729,145$25,751,871
X-15 Other assetsStart of year $7,970,304$184,865,492
X-16 Total assetsStart of year $1,954,390,358$2,013,045,133
X-17 Accounts payable and accrued expensesStart of year $209,199,533$360,490,744
X-19 Deferred revenueStart of year $77,622,852$96,994,264
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $286,822,385$457,485,008
X-27 Net assets without donor restrictionsStart of year $1,666,571,875$1,552,128,690
X-28 Net assets with donor restrictionsStart of year $996,098$3,431,435
X-32 Total net assets or fund balancesStart of year $1,667,567,973$1,555,560,125
X-33 Total liabilities and net assetsStart of year $1,954,390,358$2,013,045,133
Part XI · Reconciliation of net assets $1,555,560,125 net assets at year end
XI-1 Total revenue$1,040,203,098
XI-2 Total expenses$894,366,567
XI-3 Revenue less expenses$145,836,531
XI-4 Net assets at start of year$1,667,567,973
XI-5 Net unrealized gains (losses) on investments−$273,397,247
XI-9 Other changes in net assets$15,552,868
XI-10 Net assets at end of year$1,555,560,125

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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