2024-08-15T16:58:07-05:00 2023-09-30 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE SUITE 4200 INDIANAPOLIS IN 46204 990 2022-10-01 862868464 INSTITUTE FOR STUDENT ACHIEVEMENT FOUNDATION INST 6099219000 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 STEPHANIE WOOD-GARNETT PRESIDENT 6099219000 2024-08-15 1 0 JEFFREY D FRANK P00287234 3174648600 2022 2024-08-08 14:25:15Z KADRYIE ERCIKAN ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 27052 0 X HTTPS://ISA-F.ORG/ X 2020 DE SEE P.2, PART III: QUESTION 1 2 0 0 0 0 0 3128846 18519 0 0 0 8533 0 0 3128846 27052 0 0 0 0 0 0 0 0 0 813898 1635254 813898 1635254 2314948 -1608202 2325115 1550253 10475 843880 2314640 706373 X SEE SCHEDULE O INSTITUTE FOR STUDENT ACHIEVEMENT FOUNDATION (ISAF) RAISES FUNDS TO SUPPORT THE INSTITUTE FOR STUDENT ACHIEVEMENT (ISA), WHICH IS A PART OF EDUCATIONAL TESTING SERVICE, A SECTION 501(C)(3) PUBLIC CHARITY, THAT WANTS ALL STUDENTS, REGARDLESS OF ZIP CODE, TO GRADUATE BETTER PREPARED FOR POSTSECONDARY OPPORTUNITIES THAT PUT THEM ON THE PATHWAY TO REALIZING THEIR DREAMS. 0 0 1619591 THE FOUNDATION RAISED FUNDS IN ORDER TO SUPPORT THE WOMEN OF COLOR EDUCATION COLLABORATIVE (WOCEC), A PROGRAM THAT SUPPORTS THE PROFESSIONAL DEVELOPMENT OF WOMEN OF COLOR. THE FOUNDATION ALSO SUPPORTED ACTIVITIES RELATED TO SOCIAL, EMOTIONAL, AND ACADEMIC DEVELOPMENT (SEAD) AT THE HIGH SCHOOL LEVEL. 1619591 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 2 0 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA NJ NY PA WA X LESLIE ARKUSZEWSKI 6099219000 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 IDA LAWRENCE CHAIR 0.00 40.00 X 0 620686 48191 STEPHANIE WOOD-GARNETT PRESIDENT 2.00 40.00 X X 0 345025 67697 DAWN BUDD TREASURER 0.00 40.00 X 0 330910 58493 0 1296621 174381 0 0 1 0 EDUCATIONAL TESTING SERVICE 660 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 EDUCATIONAL SERVICES 1619591 1 1910 16609 18519 8533 8533 27052 0 0 8533 10000 10000 PROF SERVICES & COACHIN 1619591 1619591 OTHER OPERATING AND ADM 5663 5663 1635254 1619591 15663 0 324450 299588 750000 500000 1250665 750665 2325115 1550253 822665 10475 21215 10475 843880 X 2314640 706373 2314640 706373 2325115 1550253 -1608202 -65 0 X 0 0 0 X X 1 EDUCATIONAL TESTING SERVICES 210634479 10 1 1619591 0 1 1619591 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INTERCOMPANY RECEIVABLE 750665 750665 INTERCOMPANY PAYABLE - ETS 21215 21215 0 1 0 0 0 0 0 0 0 IDA LAWRENCE CHAIR 0 341663 0 193125 0 85898 0 27450 0 20741 0 668877 0 0 STEPHANIE WOOD-GARNETT PRESIDENT 0 243724 0 73533 0 27768 0 36146 0 31551 0 412722 0 0 DAWN BUDD TREASURER 0 225032 0 66200 0 39678 0 22274 0 36219 0 389403 0 0 PART I, LINE 4B LINE 4B: OFFICERS AND DIRECTORS PARTICIPATED IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN UNDER 457(F) WHICH WAS MAINTAINED BY A RELATED ORGANIZATION. THE NON-VESTED PORTION OF EACH PERSON'S DEFERRED COMPENSATION IS REPORTED IN COLUMN C. THE VESTED PORTION OF EACH PERSON'S DEFERRED COMPENSATION IS REPORTED IN COLUMNS B & F. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE INSTITUTE FOR STUDENT ACHIEVEMENT FOUNDATION (ISAF) IS EDUCATIONAL TESTING SERVICE (ETS). FORM 990, PART VI, SECTION A, LINE 7A THE MEMBER (ETS) SHALL HAVE THE SOLE POWER TO ELECT AND REMOVE THE DIRECTORS OF INSTITUTE FOR STUDENT ACHIEVEMENT FOUNDATION (ISAF). THE ANNUAL MEETING OF THE MEMBER SHALL BE HELD AT THE TIME AND PLACE THAT THE BOARD OF DIRECTORS OF THE CORPORATION (THE "BOARD") MAY DESIGNATE. AT THE ANNUAL MEETING, THE MEMBER SHALL DETERMINE WHETHER TO REMOVE A DIRECTOR, FILL A BOARD VACANCY, OR RE-ELECT A DIRECTOR TO A NEW TERM. FORM 990, PART VI, SECTION B, LINE 11B ALL TRUSTEES RECEIVE A COPY OF FORM 990 FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE INSTITUTE FOR STUDENT ACHIEVEMENT FOUNDATION (ISAF) APPLIES THE CONFLICT OF INTEREST POLICY PUT IN PLACE BY ITS CONTROLLING ORGANIZATION, EDUCATIONAL TESTING SERVICES (ETS). ACCORDINGLY, THE FOLLOWING NARRATIVE REGARDING THE ETS CONFLICT OF INTEREST POLICY APPLIES TO ISAF AS WELL. THE TRUSTEES OF INSTITUTE FOR STUDENT ACHIEVEMENT FOUNDATION, INDIVIDUALLY AND COLLECTIVELY, ARE EXPECTED TO ACT IN ACCORDANCE WITH THE HIGHEST STANDARDS OF ETHICAL BEHAVIOR. ANNUALLY, THE AUDIT COMMITTEE REVIEWS THE ETS CODE OF ETHICS FOR MEMBERS OF THE BOARD OF TRUSTEES. SUBSEQUENTLY, EACH ISAF TRUSTEE RECEIVES A COPY OF THE CODE OF ETHICS AND SIGNS A STATEMENT AGREEING TO ABIDE BY THE CODE AS EMPLOYEES OF ETS. THE CODE OF ETHICS STATES A CLEAR POLICY ON CONFLICTS OF INTEREST. ETS ALSO HAS A CONFLICT OF INTEREST POLICY THAT IS SUPPLIED TO THE BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES, WHICH INCLUDES ISAF TRUSTEES. THE TRUSTEES ANNUALLY COMPLETE A TRUSTEE DISCLOSURE STATEMENT AND A TRUSTEE AFFILIATION FORM. THE DISCLOSURE STATEMENT REQUESTS IF THERE ARE ANY TRUSTEES WITH MATERIAL FINANCIAL INTEREST TO WHICH ISAF IS A PARTY. THE AFFILIATION FORM REQUESTS INFORMATION REGARDING THE TRUSTEES EMPLOYMENT AS A STAFF MEMBER OR AS A CONSULTANT OF ETS (THE ETS POLICY APPLIES AS A TRUSTEE OF ISAF), AS WELL AS THEIR AFFILIATION WITH OTHER ORGANIZATIONS. THE CORPORATE SECRETARY REVIEWS THESE DISCLOSURES FOR POTENTIAL CONFLICTS OR THE POTENTIAL APPEARANCE OF A CONFLICT. SHOULD A SITUATION BE DISCLOSED THAT PRESENTS A POTENTIAL CONFLICT, THE CORPORATE SECRETARY WOULD SEEK RESOLUTION WITH THE INVOLVEMENT OF THE APPROPRIATE AUTHORITY SUCH AS THE AUDIT COMMITTEE OR THE ETS GENERAL COUNSEL. INTRINSIC TO THE POLICY IS A TRUSTEE RECUSING THEMSELVES ON CERTAIN MATTERS OR RESIGNING FROM THE BOARD TO PREVENT A CONFLICT OF INTEREST OR AVOID AN APPEARANCE OF A CONFLICT OF INTEREST. FAILURE TO RESPOND TO THE ANNUAL DISCLOSURE PROCESS WOULD RESULT IN THE REQUISITE FOLLOW UP BY THE CORPORATE SECRETARY. CANDIDATES FOR TRUSTEES RECEIVE GENERAL INFORMATION ON RELEVANT ETS POLICIES, AS THE ETS POLICIES APPLY AS A TRUSTEE OF ISAF, SUCH AS THE CODE OF ETHICS AND CONFLICT OF INTEREST AND ARE REQUIRED TO COMPLETE THE AFFILIATIONS FORM PRIOR TO STANDING FOR ELECTION. TRUSTEES CAN OBTAIN ASSISTANCE WITH THE INTERPRETATION OR ADMINISTRATION OF THE CODE OF ETHICS CONFLICTS POLICY OR PROCEDURES FROM THE CORPORATE SECRETARY OR THE GENERAL COUNSEL. TRUSTEES RECEIVE THE COMPLETE POLICY STATEMENTS UPON THEIR ELECTION. AS ISAF TRUSTEES ARE ETS EMPLOYEES, EDUCATIONAL TESTING SERVICE REQUIRES THAT EMPLOYEES, INCLUDING OFFICERS, WHO ARE UNCERTAIN WHETHER AN OUTSIDE ACTIVITY COMES WITHIN THE SCOPE OF ETS'S CODE OF ETHICS OR CONFLICT OF INTEREST POLICY, DISCUSS THE MATTER WITH THEIR SUPERVISORS. EMPLOYEES WISHING TO ENGAGE IN OUTSIDE ACTIVITIES MUST SUBMIT AN OUTSIDE ACTIVITIES REPORT TO THEIR DIVISION VICE PRESIDENT FOR REVIEW AND APPROVAL PRIOR TO ENGAGING IN THE ACTIVITY. EMPLOYEES MUST SUBMIT AN AMENDED REPORT WHENEVER THE ACTIVITY CHANGES. THE REPORT IS REVIEWED AND THE EMPLOYEE IS INFORMED WHETHER THE REQUEST IS APPROVED. THE EMPLOYEE'S DIVISION VICE PRESIDENT AND THE VICE PRESIDENT OF HUMAN RESOURCES (HR) RECEIVE A COPY OF ALL SUCH REPORTS REGARDLESS OF WHETHER THE REQUEST IS APPROVED. ANY SITUATION INVOLVING A POTENTIAL CONFLICT OF INTEREST MUST BE REVIEWED BY HR TO VERIFY THAT NO CONFLICT EXISTS. ANY EMPLOYEE WHO ACQUIRES INFORMATION THAT GIVES THE EMPLOYEE REASON TO BELIEVE THAT ANY EMPLOYEE, OFFICER OR TRUSTEE IS ENGAGED IN CONDUCT THAT IS PROHIBITED BY ETS'S CODE OF ETHICS (WHICH IS INTENDED TO APPLY TO ISAF) OR SUBJECT TO ETS'S CONFLICT OF INTEREST POLICY (WHICH IS ALSO INTENDED TO APPLY TO ISAF AS WELL), OR THAT ANY SALES REPRESENTATIVE, DISTRIBUTOR OR OTHER PERSON OR FIRM REPRESENTING ISAF IN ANY TRANSACTION IS ENGAGED IN THE TYPE OF CONDUCT (WHETHER OR NOT IN CONNECTION WITH A TRANSACTION INVOLVING ISAF OR ITS PRODUCTS) WHICH, IF ENGAGED IN BY AN EMPLOYEE, WOULD VIOLATE THIS POLICY IS REQUIRED TO REPORT THIS INFORMATION IMMEDIATELY. ALL COMPLAINTS REGARDING POTENTIAL CONFLICTS OF INTEREST ARE INVESTIGATED PROMPTLY, AND WHERE NECESSARY, IMMEDIATE AND APPROPRIATE ACTION IS TAKEN TO STOP AND REMEDY ANY SUCH CONDUCT. ANY EMPLOYEE OR OFFICER, FOUND IN VIOLATION OF THIS POLICY WILL BE SUBJECT TO DISCIPLINARY ACTION, UP TO AND INCLUDING TERMINATION, DEPENDING UPON THE SEVERITY OF THE VIOLATION. THIS POLICY IS REVIEWED ON AN ANNUAL BASIS BY THE VICE PRESIDENT OF HUMAN RESOURCES. ALL ETS EMPLOYEES (WHICH INCLUDES ISAF TRUSTEES) RECEIVE A COPY OF THE CODE OF ETHICS ON AN ANNUAL BASIS. THE ANNUAL REVIEW AND SIGNATURE INDICATING THEIR AGREEMENT TO COMPLY WITH THE POLICY IS MANDATORY AS PART OF EMPLOYMENT WITH ETS. FORM 990, PART VI, SECTION B, LINE 15 ALL ISAF EXECUTIVES ARE COMPENSATED BY ETS. ACCORDINGLY, ETS HAS A PROCESS IN PLACE FOR DETERMINING REASONABLE COMPENSATION FOR THEIR PERSONNEL, AS IS ELABORATED UPON BELOW. ETS ENGAGES AN EXTERNAL INDEPENDENT EXECUTIVE COMPENSATION CONSULTANT ORGANIZATION (IEECO) TO REVIEW AND ADVISE ON WORKER COMPENSATION LAWS. FURTHER, THE IEECO PREPARES AN ANNUAL REPORT OF PROPOSED COMPENSATION FOR ETS'S CEO AND OFFICERS EVALUATING THE REASONABLENESS OF THE COMPENSATION, AS DEFINED BY THE IRS INTERMEDIATE SANCTION RULES. THE REPORT ASSESSES THE RELEVANT LABOR MARKET FOR OFFICER ROLES USING NATIONAL DATA FROM COMPARABLE ORGANIZATIONS OF SIMILAR SIZE AND COMPLEXITY. THEN, CONSISTENT WITH THE COMPOSITION OF THE LABOR MARKETS IN WHICH ETS COMPETES FOR EXECUTIVE TALENT, APPROPRIATE COMPARATIVE ANALYSES ARE DEVELOPED FROM BOTH NOT-FOR-PROFIT AND FOR-PROFIT DATA. FINALLY, THE IEECO PREPARES A LETTER OF REASONABLENESS REGARDING THE ANALYSES OF OFFICER PAY CONSISTENT WITH GOVERNMENT GUIDELINES WHICH IS PRESENTED TO THE COMMITTEE ON GOVERNANCE AND HUMAN RESOURCES AND THE BOARD FOR REVIEW, COMMENT AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19 INSTITUTE FOR STUDENT ACHIEVEMENT FOUNDATION (ISAF) DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. 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