College Board FY2023 filing

Tax-deductible

New York, NY501(c)(3)Since 1900EducationEIN 13-1623965Revenue $1.0B in FY2023

On file with the IRScollegeboard.org225 Liberty St 28th FL, 10281-1049 · New York, NYTax-exempt since Jun 1942Publicly supported — 509(a)(2)

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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.
84¢ of each $1 spent went to programs.
$11.1M 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

FY2023 · 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
84%
of spending
Looks good: 84% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$11.1M
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
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
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
$449.1M
21% of total assets
Looks good: liabilities are 21% of assets; 50% or less.
Pt X · Ln 26
Independent board members
29
of 30 voting members
Looks good: 29 of 30 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
-2% vs prior year
Spent
$973.7M
To programs
84%
Net assets
$1.7B
By yearFY2020–FY2024
Revenue
$1.0B
FY2023▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2020$779.6M
FY2021$983.2M
FY2022$1.0B
FY2023$1.0B
FY2024$1.2B
Expenses
$973.7M
FY2023▲ +9%
Tap a bar for its year
Expenses by fiscal year
FY2020$862.4M
FY2021$870.8M
FY2022$894.4M
FY2023$973.7M
FY2024$963.0M
Net assets
$1.7B
FY2023▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.4B
FY2021$1.7B
FY2022$1.6B
FY2023$1.7B
FY2024$2.0B

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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

84 cents of each dollar spent went to programs.

Program services 84% · $818.5M Management & general 16% · $155.1M

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

52 people listed on the 990; $11.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/Trustee
$2,071,352Pt VII · Sec A
President
$1,359,800Pt VII · Sec A
Chief Data Officer and SVP, Technology Strategy
$691,996Pt VII · Sec A
SVP, Ap Programs
$642,655Pt VII · Sec A
Chief Legal and Risk Officer
$635,867Pt VII · Sec A
Chief of Global Policy, Advocacy & Communications
$634,985Pt VII · Sec A
Sec'y & Chief of Membership, Governance, & Global Higher Ed
$604,702Pt VII · Sec A
Chief Financial Officer
$571,978Pt 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 · $781.4M · in their own filed words · FY2023
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.

$417.9Mprogram 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.

$253.2Mprogram 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.

$110.3Mprogram 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 FY2023 990, line by line.

1The main four
Money inPt VIII
$1.0B
Ln 12
Fees for servicesLn 2g$955.9M
Investment incomeLn 3$63.1M
Gifts and grantsLn 1h$4.6M
Money outPt IX
$973.7M
Ln 25
Programscol B$818.5M
Managementcol C$155.1M
Owns and owesPt X
$1.7B
net assets · Ln 32
Cash and savingsLn 1–2$195.7M
Total assetsLn 16$2.2B
LiabilitiesLn 26$449.1M
PeoplePt VI, VII
52
listed · VII A
PaidVII A16
Voting boardVI 1a30
IndependentVI 1b29
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.6M
Government grantsLn 1e$2.5M
Fees for servicesLn 2g$955.9M
Investment incomeLn 3$63.1M
Gains on assetsLn 7$31.9M
Total revenueLn 12$1.0B
Assets in detailPt X, end of year
CashLn 1$2.2M
SavingsLn 2$193.5M
Cash and savings togetherLn 1–2$195.7M
InvestmentsLn 11–13$1.60B
Land, buildings, equipmentLn 10c$107.2M
Other assetsLn 15$169.9M
Total assetsLn 16$2.2B
LiabilitiesLn 26$449.1M
Net assetsLn 32$1.7B
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 FY23End FY23
Cash and savingsLn 1–2$384.2M$195.7M
InvestmentsLn 11–13$1.22B$1.60B
Land, buildings, equipmentLn 10c$94.7M$107.2M
Total assetsLn 16$2.01B$2.18B
LiabilitiesLn 26$457.5M$449.1M
Net assetsLn 32$1.56B$1.74B
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.2M$1.2M
Grants to domestic individualsLn 2$2.6M$2.6M
Pay of current officers, directors and key staffLn 5$9.3M$1.8M$7.6M
Other salaries and wagesLn 7$259.5M$194.2M$65.4M
Pension plan contributionsLn 8$25.4M$18.7M$6.6M
Other employee benefitsLn 9$22.0M$16.3M$5.7M
Payroll taxesLn 10$20.0M$14.6M$5.4M
Legal feesLn 11b$1.3M$735K$562K
Accounting feesLn 11c$623K$623K
Lobbying feesLn 11d$831K$831K
Investment management feesLn 11f$11.5M$11.5M
Other fees for servicesLn 11g$43.7M$43.7M$0$0
Advertising and promotionLn 12$5.9M$5.9M
Office expensesLn 13$27.6M$9.7M$17.9M
Information technologyLn 14$43.1M$29.1M$14.0M
OccupancyLn 16$22.1M$16.2M$6.0M
TravelLn 17$17.7M$13.4M$4.3M
Conferences, conventions and meetingsLn 19$11.8M$9.8M$2.0M
Depreciation, depletion and amortizationLn 22$23.8M$20.1M$3.7M
InsuranceLn 23$2.3M$2.3M
Other expenses (24a–d)Ln 24$420.8M$420.1M$699K
All other expensesLn 24e$521K$487K$34K$0
Total functional expensesLn 25$973.7M$818.5M$155.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.2B$963.0M$212.0M$2.0B 990 PDF
FY2023 Viewing $1.0B$973.7M$45.4M$1.7B 990 PDF
FY2022 $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 FY2023 990 (6 parts)
Part I · Summary $1,019,073,270 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $7,075,822$4,578,594
I-9 Program service revenuePrior year $908,477,178$955,886,984
I-10 Investment incomePrior year $126,957,004$63,136,351
I-11 Other revenuePrior year −$2,306,906−$4,528,659
I-12 Total revenuePrior year $1,040,203,098$1,019,073,270
I-13 Grants and similar amounts paidPrior year $5,239,323$3,799,726
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $299,920,248$336,224,986
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $589,206,996$633,628,215
I-18 Total expensesPrior year $894,366,567$973,652,927
I-19 Revenue less expensesPrior year $145,836,531$45,420,343
Part VI · Governance 29 of 30 board members independent, no flags
VI-1a Voting members of the governing body30
VI-1b Independent voting members29
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,019,073,270 across 8 lines filed
VIII-1e Government grants$2,471,048
VIII-1f All other contributions, gifts and grants$2,107,546
VIII-1h Total contributions, gifts and grants$4,578,594
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $955,886,984$955,886,984
VIII-3 Investment incomeUnrelated business $4,469,889 · Excluded from tax $26,814,069$31,283,958
VIII-6 Net rental income or lossExcluded from tax −$4,528,659−$4,528,659
VIII-7 Net gain or loss on sales of assetsUnrelated business $2,478,917 · Excluded from tax $29,373,476$31,852,393
VIII-12 Total revenueRelated to mission $955,886,984 · Unrelated business $6,948,806 · Excluded from tax $51,658,886$1,019,073,270
Part IX · Statement of functional expenses $973,652,927 across 22 lines filed
IX-1 Grants to domestic organizationsPrograms $1,192,842$1,192,842
IX-2 Grants to domestic individualsPrograms $2,606,884$2,606,884
IX-5 Pay of current officers, directors and key staffPrograms $1,752,549 · Management $7,587,959$9,340,508
IX-7 Other salaries and wagesPrograms $194,150,301 · Management $65,379,213$259,529,514
IX-8 Pension plan contributionsPrograms $18,735,879 · Management $6,627,365$25,363,244
IX-9 Other employee benefitsPrograms $16,284,995 · Management $5,688,731$21,973,726
IX-10 Payroll taxesPrograms $14,638,352 · Management $5,379,642$20,017,994
IX-11b Legal feesPrograms $735,016 · Management $561,880$1,296,896
IX-11c Accounting feesManagement $623,108$623,108
IX-11d Lobbying feesManagement $831,074$831,074
IX-11f Investment management feesManagement $11,496,814$11,496,814
IX-11g Other fees for servicesPrograms $43,651,280 · Management $0 · Fundraising $0$43,651,280
IX-12 Advertising and promotionPrograms $5,939,657$5,939,657
IX-13 Office expensesPrograms $9,728,879 · Management $17,896,280$27,625,159
IX-14 Information technologyPrograms $29,103,830 · Management $14,022,495$43,126,325
IX-16 OccupancyPrograms $16,161,603 · Management $5,971,336$22,132,939
IX-17 TravelPrograms $13,428,989 · Management $4,304,868$17,733,857
IX-19 Conferences, conventions and meetingsPrograms $9,758,533 · Management $2,035,088$11,793,621
IX-22 Depreciation, depletion and amortizationPrograms $20,063,134 · Management $3,714,251$23,777,385
IX-23 InsuranceManagement $2,296,241$2,296,241
IX-24 Other expenses (24a–d)Programs $420,083,903 · Management $698,937$420,782,840
IX-24e All other expensesPrograms $487,419 · Management $33,600 · Fundraising $0$521,019
IX-25 Total functional expensesPrograms $818,504,045 · Management $155,148,882 · Fundraising $0$973,652,927
Part X · Balance sheet $2,184,378,917 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $5,937,461$2,215,293
X-2 Savings and temporary cash investmentsStart of year $378,298,490$193,505,454
X-3 Pledges and grants receivableStart of year $1,499,288$1,388,365
X-4 Accounts receivableStart of year $111,810,600$83,303,463
X-9 Prepaid expenses and deferred chargesStart of year $20,190,371$27,209,345
X-10c Land, buildings and equipment, netStart of year $94,743,794$107,216,588
X-11 Publicly traded securitiesStart of year $243,764,106$460,580,852
X-12 Other securitiesStart of year $946,183,660$1,119,392,589
X-13 Program-related investmentsStart of year $25,751,871$19,658,226
X-15 Other assetsStart of year $184,865,492$169,908,742
X-16 Total assetsStart of year $2,013,045,133$2,184,378,917
X-17 Accounts payable and accrued expensesStart of year $360,490,744$358,480,671
X-19 Deferred revenueStart of year $96,994,264$90,637,731
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $457,485,008$449,118,402
X-27 Net assets without donor restrictionsStart of year $1,552,128,690$1,733,786,106
X-28 Net assets with donor restrictionsStart of year $3,431,435$1,474,409
X-32 Total net assets or fund balancesStart of year $1,555,560,125$1,735,260,515
X-33 Total liabilities and net assetsStart of year $2,013,045,133$2,184,378,917
Part XI · Reconciliation of net assets $1,735,260,515 net assets at year end
XI-1 Total revenue$1,019,073,270
XI-2 Total expenses$973,652,927
XI-3 Revenue less expenses$45,420,343
XI-4 Net assets at start of year$1,555,560,125
XI-5 Net unrealized gains (losses) on investments$141,506,392
XI-9 Other changes in net assets−$7,226,345
XI-10 Net assets at end of year$1,735,260,515

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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