2024-08-14T05:14:32-05:00 2023-09-30 861065772 DELOITTE TAX LLP 111 MONUMENT CIRCLE SUITE 4200 INDIANAPOLIS IN 46204 990 2022-10-01 210634479 EDUCATIONAL TESTING SERVICE EDUC 6099219000 660 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 JEFFREY A MELNICK CHIEF FINANCIAL OFFICER 6099219000 2024-08-13 1 0 JEFFREY D FRANK P00287234 3174648600 2022 2024-08-08 14:25:15Z JEFFREY A MELNICK 660 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 1058224336 0 X WWW.ETS.ORG X 1947 NY SEE PAGE 2, PART III, QUESTION 1 18 17 26757 0 7587102 0 5080530 4848675 960609774 918618983 71406013 61641187 78223345 73115491 1115319662 1058224336 2649964 1190250 0 0 346638525 349952013 0 0 0 760967076 716732363 1110255565 1067874626 5064097 -9650290 1789019658 1763847528 289931252 267920528 1499088406 1495927000 X 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.MISSIONOUR 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.VISIONTO 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. 0 0 794806634 1190250 783485224 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. 121214951 135133759 ASSESSMENT ADMINISTRATION & DELIVERYTHE 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. 916021585 1 1 0 1 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 1 1 1 0 0 1 X 10888 0 26757 1 1 1 1 CA CH FR HK IN IS IT KS NL PL TU UK AE GM SP 0 0 0 0 0 0 0 0 1 0 X 18 17 0 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA DE IN NJ NY OR X NANCI LEVI 6099219000 660 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 AMIT SEVAK START 7122 PRESIDENT & CEO 40.00 X X 658485 0 90259 JEFFREY SINE TRUSTEE 2.00 X 184500 0 0 EARL LEWIS TRUSTEE 2.00 X 164500 0 0 BEVERLY DANIEL TATUM TRUSTEE 2.00 X 158500 0 0 JAMES PELLEGRINO TRUSTEE 2.00 X 157500 0 0 KURT LANDGRAF TRUSTEE 2.00 X 145000 0 0 MARTHA KANTER TRUSTEE 2.00 X 143000 0 0 MICHELA ENGLISH END 42823 TRUSTEE 2.00 X 135000 0 0 MILDRED GARCIA TRUSTEE 2.00 X 107000 0 0 BARBARA JENKINS TRUSTEE 2.00 X 94000 0 0 YOUNGSUK CHI TRUSTEE 2.00 X 86000 0 0 KEVIN GUTHRIE TRUSTEE 2.00 X 86000 0 0 CANDACE THILLE TRUSTEE 2.00 X 80000 0 0 WILHELM KRULL TRUSTEE 2.00 X 80000 0 0 MARIET WESTERMANN TRUSTEE 2.00 X 78500 0 0 DARIENNE HUDSON TRUSTEE 2.00 X 69000 0 0 PATRICIA GANDARA TRUSTEE 2.00 X 62500 0 0 ANTONIA HERNANDEZ TRUSTEE 2.00 X 56000 0 0 LAVERNE SRINIVASANSTART 6122 TRUSTE 2.00 X 38333 0 0 JACK HAYON END 3223 SVP & CHIEF FINANCIAL OFFICER 40.00 2.00 X 785509 0 53632 RALPH TAYLOR-SMITH VP CORPORATE DEVELOPMENT 40.00 X 733231 0 48240 SCOTT FORRESTER NELSON SVP & CHIEF MARKETING OFFICER 40.00 X 657237 0 58423 SHEREE L JOHNSON-GREGORY DEPUTY GENERAL COUNSEL & CDO 40.00 X 646399 0 42756 IDA LAWRENCE SR VP-RESEARCH & DEVELOPMENT 40.00 X 620686 0 48191 MICHAEL T NETTLES END 1723 SVP-CTR POLICY EVAL & RSRCH 40.00 X 534917 0 47003 SARA LESTER END 3223 VP HUMAN RESOURCES & LEARNING 40.00 X 507853 0 70409 WILLIAM C DRAPER JREND 7123 VP & COO COLLEGE BOARD 40.00 X 540037 0 28083 JOANNA GORIN END 10122 VP RESEARCH 40.00 X 524287 0 37922 KADRIYE ERCIKAN-ALPER VP PSYCH, STAT & DATA SCIENCE 40.00 X 480689 0 53952 ANDREAS ORANJE END 32523 VP ASSESS & LEARNING TECH DEV 40.00 X 455472 0 71411 TRACY HUDE END 3223 VP - FINANCE 40.00 X 477556 0 34541 STEVEN SANTANA CHIEF INFORMATION OFFICER 40.00 X 415372 0 85541 MICHAEL FREDDO END 2223 VP & CONTROLLER 40.00 X 436256 0 46335 THERESA KERI VP PRODUCTION & DELIVERY 40.00 X 392400 0 55441 ROSA KIM TILTON END 3223 VP & CORPORATE SECRETARY 40.00 X 266589 0 35126 DENNIS STETZEL START 31422 SVP, PRODUCTION & DELIVERY 40.00 X 237168 0 44466 ROHIT SHARMA START 9622 SVP GM GLOBAL WORKSKILLS 40.00 X 201161 0 20693 WALLACE FRANK DALRYMPLE JR VP, CHIEF SECURITY OFFICER 40.00 X 127560 0 24146 JEFFREY MELNICKSTART 122822 CHIEF FINANCIAL OFFICER 40.00 X 0 0 0 IRWIN KIRSCH TYLER CHAIR LG SCALE ASSESSMNT 40.00 X 416683 0 78773 KELLY L ODENHEIMER AVP MARKETING AND SALES 40.00 X 402069 0 70740 MOHAMMAD KOUSHA AVP GLOBAL STRAT & GROWTH 40.00 X 407532 0 60862 ALBERTO ACEREDA AVP GLOBAL HIGHER ED. 40.00 X 383239 0 64728 RANDY E BENNETT FREDERIKSEN CHAIR-ASSESS INNOV 40.00 X 398217 0 36793 DEBRA STERWARD END 42922 FORMER TRUSTEE 2.00 X 35333 0 0 WADE HENDERSON END 42922 FORMER TRUSTEE 2.00 X 31333 0 0 DEBORAH QUAZZO END 21922 FORMER TRUSTEE 2.00 X 27000 0 0 WALTER MACDONALD END 61522 FORMER PRESIDENT 40.00 X 2192517 0 87836 EDDIE MONTEIRO END 9122 FORMER SVP & COO 40.00 X 769630 0 57384 SCOTT V WEAVER END 5322 FORMER VP CHIEF STRATEGY OFFICER 40.00 X 792438 0 24078 GLENN C SCHROEDER END 5622 FORMER SVP & GENERAL COUNSEL 40.00 X 425213 0 360885 DAVID HOBSON END 8122 FORMER VP & CORPORATE SECRETARY 40.00 X 377490 0 26545 REBECCA PFUND END 121821 FORMER SVP & CHIEF INFORMATION OFFICER 0.00 X 233658 0 0 LILIAN M LOWERY END 2122 FORMER VP & COO STA K12 & TLC 40.00 X 191820 0 36887 DAVID G PAYNE END 31221 FORMER VP & COO GLOBAL EDUCATION 0.00 X 112530 0 0 BRUCE GILBERTSON END 31221 FORMER VP FACILITIES & REAL ESTATE 0.00 X 102255 0 3553 JOHN BASEHORE END 111922 FORMER VP & TREASURER 0.00 X 105349 0 0 ANNE F ROCKEY END 31221 FORMER VP - OPERATIONS 0.00 X 103595 0 0 19132098 0 1905634 1340 1 1 0 ACCENTURE INTERNATIONAL LTD 161 NORTH CLARK ST CHICAGO IL 60601 SUPPLY CHAIN 53029566 CAMBIUM ASSESSMENT INC PO BOX 844549 BOSTON MA 022844549 SUBCONTRACTOR UNDER CAASPP CONTRACT 26858776 PROMETRIC LLC TEST ADMINISTRATION S 1501 S CLINTON ST STE 1200 BALTIMORE MD 212245732 SUBCONTRACTING 26367489 PROCTORU INC 200 RIVERCHASE CENTER 600 BIRMINGHAM AL 35244 TEST ADMINISTRATION SERVICES 23417961 COMPUTER SCIENCES CORPORATION 3180 FAIRVIEW PARK DRIVE FALLS CHURCH VA 22042 COMPUTER SERVICES 23360279 252 4848675 4848675 TEST DEVELOPMENT & SCO 611710 783485224 783485224 TEST ADMIN & DELIVERY 611710 135133759 135133759 918618983 5395323 -2475155 7870478 62255740 62255740 797494 0 797494 797494 797494 56245864 0 56245864 56245864 56245864 OCCUPATIONAL & PROFESS 611600 6913333 6913333 CHAUNCEY CONFERENCE CE 721000 3148924 3148924 10062257 1058224336 918618983 7587102 127169576 X 1011495 1011495 178755 178755 11060861 2327843 8733018 8216479 8216479 273577709 231727231 41850478 23893768 19096333 4797435 12054362 9634065 2420297 21148834 16902532 4246302 4558506 422214 4136292 2808868 2808868 106892 106892 3679808 3679808 476046069 438112411 37933658 16480648 16150414 330234 118268799 112517645 5751154 1117648 1117648 16750237 16086900 663337 5339223 4400140 939083 1445724 1131154 314570 1220040 1220040 41268922 37511919 3757003 3330262 3330262 MISCELLANEOUS 16201806 16201806 INCOME TAXES 3814645 3814645 CHAUNCEY CONFERENCE CEN 3513797 3513797 MEMBERSHIPS AND DUES 780469 364444 416025 1067874626 916021585 151853041 0 0 0 0 0 432267 195619326 32392836 16214500 98250091 119288711 10098560 13260468 24822180 19300242 239954996 167840034 71835793 72114962 142307260 109231657 1222431164 1028029940 114767254 117136935 71682253 73650787 1789019658 1763847528 173789341 161204442 70158639 53333842 45983272 53382244 289931252 267920528 X 1499088406 1495927000 1499088406 1495927000 1789019658 1763847528 X -9650290 28774917 -22286033 X 0 1 X 1 1 1 X 10976917 5888044 4572369 5080530 4848675 31366535 1182676188 944976526 969524994 960231332 918618983 4976028023 1193653105 950864570 974097363 965311862 923467658 5007394558 0 528126041 413370549 454220920 459798958 432870684 2288387152 528126041 413370549 454220920 459798958 432870684 2288387152 2719007406 84093054 61971237 79870513 76228341 68241192 370404337 84093054 61971237 79870513 76228341 68241192 370404337 1277746159 1012835807 1053967876 1041540203 991708850 5377798895 0.50560 0.50300 0.06890 0.07680 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 106892 106892 1067767734 1067874626 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 47287 58959 125870 106892 339008 250000 250000 250000 250000 1000000 1500000 PART II-A, LINE 2, LOBBYING ACTIVITIES: TOTAL ETS FEDERAL AND STATE LOBBYING EXPENSES WERE $106,892. THE TOTAL LOBBYING EXPENDITURES OF ETS WERE MINIMAL IN COMPARISON TO TOTAL REVENUES. 1197618 1197618 150420039 99379871 51040168 19727323 15816261 3911062 68610016 52643902 15966114 72114962 INVESTMENT IN AFFILIATED ENTITIES 50603635 F NON-PUBLICLY TRADED SECURITIES 977426305 F 1028029940 LEASE LIABILITY - OPERATING LEASES 13947236 OTHER LONG TERM LIABILITIES 39435008 53382244 X PART X, LINE 2: THIS SUMMARY REFLECTS THE ETS PORTION OF THE ASC 740-10(FIN 48) NOTE IN THE CONSOLIDATED FINANCIAL STATEMENTS. EDUCATIONAL TESTING SERVICE ADOPTED ASC 740-10(FIN 48) ON JANUARY 1, 2009 IN ACCORDANCE WITH U.S. GENERALLY ACCEPTED ACCOUNTING PROCEDURES (US GAAP). IN ACCORDANCE WITH THE US GAAP REQUIREMENTS, EDUCATIONAL TESTING SERVICE ADJUSTED ITS NET ASSETS FOR ITS UNCERTAIN TAX POSITIONS. IT IS REASONABLY POSSIBLE THAT THE BALANCE OF GROSS UNRECOGNIZED TAX BENEFITS MAY CHANGE WITHIN THE NEXT TWELVE MONTHS, DUE TO LAPSE OF APPLICABLE STATUTES OF LIMITATIONS OR CLOSURE OF AN EXAMINATION, OR CHANGE IN TAX LAW. CENTRAL AMERICA AND THE CARIBBEAN 0 565 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 295465 EAST ASIA AND THE PACIFIC 0 2715 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 15134782 EUROPE (INCLUDING ICELAND & GREENLAND) 0 467 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 47317500 MIDDLE EAST AND NORTH AFRICA 0 1038 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 1682450 NORTH AMERICA 0 722 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 3781282 RUSSIA AND NEIGHBORING STATES 0 643 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 433644 SOUTH AMERICA 0 724 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 697319 SOUTH ASIA 0 2645 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 8813687 SUB-SAHARAN AFRICA 0 678 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 928387 NORTH AMERICA 0 0 INVESTMENTS 12815011 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 71699360 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 156708683 0 9519 0 678 0 10197 78156129 242151441 320307570 1 0 1 1 1 1 PART III ACCOUNTING METHOD: 1 AMERICAN ASSOCIATION OF HISPANICS IN HIGHER EDUCATION 2598 EAST SUNRISE BOULEVARD SUITE 2104 FORT LAUDERDALE FL 33304 300150324 501(C)(3) 100000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS BIG BROTHERS BIG SISTERS MERCER CO 535 E FRANKLIN STREET TRENTON NJ 08610 061653897 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS BLACK DOCTORAL NETWORK INC 300 DELAWARE AVE SUITE 210 WILMINGTON DE 19801 461420430 501(C)(3) 25000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS BOARD OF EDUCATION OF THE TOMS RIVER SCHOOLS 1144 HOOPER AVENUE TOMS RIVER NJ 08753 216000322 501(C)(3) 65679 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS BOARD OF TRUSTEES OF MICHIGAN STATE UNIV 426 AUDITORIUM ROAD ROOM 360 EAST LANSING MI 48824 386005984 501(C)(3) 30000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS BOYS AND GIRLS CLUB OF MERCER COUNTY 212 CENTRE STREET TRENTON NJ 08611 210634556 501(C)(3) 5000 5370 FMV DONATED 69 LAPTOPS WITH CORDS AND 18 HEADSETS SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS BUTTERFLY NOIR INC 215 E 95TH ST NEW YORK NY 10128 882834472 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS CHILDRENS DEFENSE FUND 25 E STREET NW WASHINGTON DC 20001 520895622 501(C)(3) 7500 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS DR MELVIN C TERRELL EDUCATIONAL FOUNDATION INC PO BOX 47973 TAMPA FL 33646 300363978 501(C)(3) 26500 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS EDUCATION LAW CENTER INC 60 PARK PLACE SUITE 300 NEWARK NJ 07102 222104555 501(C)(3) 90000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS EWING PUBLIC EDUCATION FOUNDATION INC PO BOX 7033 EWING NJ 08628 223347353 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS HISPANIC ASSOCIATION OF COLLEGES AND UNIVERSITIES 4801 NW LOOP 410 SUITE 701 SAN ANTONIO TX 78229 742466103 501(C)(3) 15000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS HITOPS INCORPORATED 300 WITHERSPOON STREET PRINCETON NJ 08542 223486441 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS HOMEFRONT INC 1880 PRINCETON TRENTON NJ 08648 223165145 501(C)(3) 0 11030 FMV DONATED 65 LAPTOPS WITH CORDS, 45 DESKTOP COMPUTERS AND OFFICE SUPPLIES SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS INSTITUTE FOR CITIZENS AND SCHOLARS 104 CARMEGOE CENTER DR STE 301 PRINCETON NJ 08540 210703075 501(C)(3) 50000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS JOBS FOR AMERICAS GRADUATES INC 1729 KING STREET SUITE 100 ALEXANDRIA VA 22314 521194546 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS LAWRENCE TOWNSHIP EDUCATION FOUNDATION 17 PHILLIPS AVENUE LAWRENCEVILLE NJ 08648 223192024 501(C)(3) 95000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS LIFE PIECES TO MASTERPIECES INC 5600 EADS STREET NE WASHINGTON DC 20019 522076894 501(C)(3) 70000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS MCCARTER THEATRE COMPANY 91 UNIVERSITY PLACE PRINCETON NJ 08540 210724198 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS MONMOUTH REGIONAL HIGH SCHOOL 1 NORMAN J FIELD WAY TINTON FALLS NJ 07724 216007046 501(C)(3) 49276 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS NATIONAL AWARENESS ALLIANCE 13 DIXIE DRIVE PENNS GROVE NJ 08069 814095945 501(C)(3) 115000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS PRINCETON MERCER REGIONAL CHAMBER OF COMMERCE 600 ALEXANDER ROAD SUITE 302 PRINCETON NJ 08540 210722138 501(C)(3) 11000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS ROCKEFELLER PHILANTHROPY ADVISORS INC 90 CHURCH STREET FL 1 7082 NEW YORK NY 10008 133615533 501(C)(3) 20000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS SAN DIEGO STATE UNIVERSITY RESEARCH FOUNDATION 5250 CAMPANILE DRIVE MC 1947 SAN DIEGO CA 92182 956042721 501(C)(3) 25000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS SHILOH COMMUNITY DEVELOPMENT CORPORATION 416 BELLEVUE AVE SUITE 407 TRENTON NJ 08618 123799161 501(C)(3) 20000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS THE GEORGE WASHINGTON UNIVERSITY 45155 REARCH PLACE SUITE 260 ASHBURN VA 20147 541784758 501(C)(3) 7500 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS THE NEW SCHOOL 66 WEST 12TH STREET NEW YORK NY 10011 133297197 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS THE YWCA PRINCETON INC 59 PAUL ROBESON PLACE PRINCETON NJ 08540 210635056 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS TOUGALOO COLLEGE WEST COUNTY LINE ROAD TOUGALOO MS 39174 640303093 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS UNIVERSITY OF FLORIDA PO BOX 113201 SUITE 1250 EAST CAMPUS OFFICE BLDG GAINESVILLE FL 32611 596002052 501(C)(3) 7500 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS YOUNG AUDIENCES OF NEW JERSEY INC 200 FORRESTAL ROAD PRINCETON NJ 08540 237384991 501(C)(3) 10000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS 38 HISTORICALLY BLACK COLLEGES AND UNIVERSITIES PRESIDENTIAL SCHOLARSHIP 8 76255 TRENTON CENTRAL HIGH SCHOOL SCHOLARSHIP 21 102500 PART I, LINE 2: EDUCATIONAL TESTING SERVICE REQUIRES APPLICANTS FOR SCHOLARSHIPS TO PROVIDE TRANSCRIPTS AND OTHER INFORMATION UPON WHICH THEY ARE EVALUATED. DURING FISCAL YEAR 2023, SCHOLARSHIP FUNDS WERE MADE PAYABLE DIRECTLY TO THE UNIVERSITY OR COLLEGE THAT THE AWARDED RECIPIENT ATTENDS OR MADE PAYABLE TO BOTH THE INSTITUTION AND THE STUDENT. THE ETS CENTER FOR ADVOCACY AND PHILANTHROPY, A DIVISION OF ETS THAT MANAGES ETS'S CONTRIBUTIONS, HAS ESTABLISHED CRITERIA FOR MAKING GRANTS AND OTHER CONTRIBUTIONS. IT ALSO MAINTAINS RECORDS TO SUBSTANTIATE THE AMOUNT OF GRANTS OR IN-KIND CONTRIBUTIONS, AS WELL AS THE GRANTEES ELIGIBILITY FOR THE GRANTS. IRS FORM W-9 IS REQUESTED FROM ALL ORGANIZATIONS TO ASCERTAIN THE LEGAL NAME, EIN OR TAXPAYER IDENTIFICATION NUMBER AND ADDRESS. ETS TYPICALLY MAINTAINS CLOSE CONTACT WITH ITS GRANTEES TO MONITOR THEIR PROGRESS IN THE USE OF FUNDS AND, WHENEVER FEASIBLE, THE EXTENT TO WHICH THE FUNDED PROGRAM MET ITS OBJECTIVES. SMALL CONTRIBUTIONS (UNDER $2,000) ARE SOMETIMES MADE TO 501(C)(3) ORGANIZATIONS TO PROMOTE VOLUNTEERISM AND PHILANTHROPY AMONG EMPLOYEES AT ETS. ETS MONITORS THE USE OF FUNDS IN SEVERAL WAYS: (1) REQUESTS WRITTEN REPORTS ON THE USE OF RESTRICTED FUNDS AND THE ORGANIZATION'S ANNUAL REPORT WHEN THE GRANT IS UNRESTRICTED; (2) FOR SPONSORED EVENTS, SUCH AS CONFERENCES AND WORKSHOPS, ETS REQUESTS PROGRAMS AND OTHER MATERIALS PREPARED FOR THE EVENT; (3) STAFF MEMBERS ATTEND A NUMBER OF SPONSORED EVENTS SO THAT THERE IS DIRECT OBSERVATION; (4) ETS REMAINS IN CONTACT WITH GRANT RECIPIENTS VIA EMAIL, PHONE CALLS AND FACE-TO-FACE MEETINGS; AND (5) ETS OBTAINS COPIES OF ANY RESEARCH PAPERS THAT MIGHT BE DEVELOPED AS A RESULT OF THE GRANT. X X X 1 1 X X X X 1 1 0 0 0 1 0 1 0 WALTER MACDONALD END 61522 FORMER PRESIDENT 410787 0 412000 0 1369730 0 66243 0 21593 0 2280353 0 0 0 JACK HAYON END 3223 SVP & CHIEF FINANCIAL OFFICER 388493 0 303975 0 93041 0 27450 0 26182 0 839141 0 0 0 EDDIE MONTEIRO END 9122 FORMER SVP & COO 329375 0 175000 0 265255 0 27450 0 29934 0 827014 0 0 0 SCOTT V WEAVER END 5322 FORMER VP CHIEF STRATEGY OFFICER 105120 0 158500 0 528818 0 10824 0 13254 0 816516 0 0 0 GLENN C SCHROEDER END 5622 FORMER SVP & GENERAL COUNSEL 149370 0 240150 0 35693 0 212043 0 148842 0 786098 0 0 0 RALPH TAYLOR-SMITH VP CORPORATE DEVELOPMENT 325840 0 360500 0 46891 0 48240 0 0 0 781471 0 0 0 AMIT SEVAK START 7122 PRESIDENT & CEO 464267 0 100000 0 94218 0 66760 0 23499 0 748744 0 0 0 SCOTT FORRESTER NELSON SVP & CHIEF MARKETING OFFICER 345466 0 234000 0 77771 0 27450 0 30973 0 715660 0 0 0 SHEREE L JOHNSON-GREGORY DEPUTY GENERAL COUNSEL & CDO 328775 0 241125 0 76499 0 24015 0 18741 0 689155 0 0 0 IDA LAWRENCE SR VP-RESEARCH & DEVELOPMENT 341663 0 193125 0 85898 0 27450 0 20741 0 668877 0 0 0 MICHAEL T NETTLES END 1723 SVP-CTR POLICY EVAL & RSRCH 291322 0 169125 0 74470 0 26562 0 20441 0 581920 0 0 0 SARA LESTER END 3223 VP HUMAN RESOURCES & LEARNING 274422 0 212625 0 20806 0 37943 0 32466 0 578262 0 0 0 WILLIAM C DRAPER JREND 7123 VP & COO COLLEGE BOARD 286545 0 199875 0 53617 0 25233 0 2850 0 568120 0 0 0 JOANNA GORIN END 10122 VP RESEARCH 254688 0 165375 0 104224 0 24146 0 13776 0 562209 0 0 0 KADRIYE ERCIKAN-ALPER VP PSYCH, STAT & DATA SCIENCE 277339 0 152125 0 51225 0 23715 0 30237 0 534641 0 0 0 ANDREAS ORANJE END 32523 VP ASSESS & LEARNING TECH DEV 282499 0 152000 0 20973 0 39829 0 31582 0 526883 0 0 0 TRACY HUDE END 3223 VP - FINANCE 229432 0 201000 0 47124 0 34541 0 0 0 512097 0 0 0 STEVEN SANTANA CHIEF INFORMATION OFFICER 368249 0 25000 0 22123 0 52000 0 33541 0 500913 0 0 0 IRWIN KIRSCH TYLER CHAIR LG SCALE ASSESSMNT 300250 0 83862 0 32571 0 53788 0 24985 0 495456 0 0 0 MICHAEL FREDDO END 2223 VP & CONTROLLER 223061 0 146850 0 66345 0 24744 0 21591 0 482591 0 0 0 KELLY L ODENHEIMER AVP MARKETING AND SALES 379389 0 0 0 22680 0 38723 0 32017 0 472809 0 0 0 MOHAMMAD KOUSHA AVP GLOBAL STRAT & GROWTH 371397 0 0 0 36135 0 38881 0 21981 0 468394 0 0 0 ALBERTO ACEREDA AVP GLOBAL HIGHER ED. 354806 0 0 0 28433 0 34307 0 30421 0 447967 0 0 0 THERESA KERI VP PRODUCTION & DELIVERY 234518 0 126730 0 31152 0 35450 0 19991 0 447841 0 0 0 RANDY E BENNETT FREDERIKSEN CHAIR-ASSESS INNOV 334453 0 36764 0 27000 0 25075 0 11718 0 435010 0 0 0 DAVID HOBSON END 8122 FORMER VP & CORPORATE SECRETARY 121662 0 159000 0 96828 0 15092 0 11453 0 404035 0 0 0 ROSA KIM TILTON END 3223 VP & CORPORATE SECRETARY 223690 0 0 0 42899 0 23084 0 12042 0 301715 0 0 0 DENNIS STETZEL START 31422 SVP, PRODUCTION & DELIVERY 195619 0 0 0 41549 0 30410 0 14056 0 281634 0 0 0 REBECCA PFUND END 121821 FORMER SVP & CHIEF INFORMATION OFFIC 0 0 0 0 233658 0 0 0 0 0 233658 0 0 0 LILIAN M LOWERY END 2122 FORMER VP & COO STA K12 & TLC 34188 0 147000 0 10632 0 32777 0 4110 0 228707 0 0 0 ROHIT SHARMA START 9622 SVP GM GLOBAL WORKSKILLS 95096 0 75000 0 31065 0 15508 0 5185 0 221854 0 0 0 JEFFREY SINE TRUSTEE 184500 0 0 0 0 0 0 0 0 0 184500 0 0 0 EARL LEWIS TRUSTEE 164500 0 0 0 0 0 0 0 0 0 164500 0 0 0 BEVERLY DANIEL TATUM TRUSTEE 158500 0 0 0 0 0 0 0 0 0 158500 0 0 0 JAMES PELLEGRINO TRUSTEE 157500 0 0 0 0 0 0 0 0 0 157500 0 0 0 WALLACE FRANK DALRYMPLE JR VP, CHIEF SECURITY OFFICER 118280 0 0 0 9280 0 13413 0 10733 0 151706 0 0 0 DAVID G PAYNE END 31221 FORMER VP & COO GLOBAL EDUCATION 0 0 0 0 112530 0 0 0 0 0 112530 0 0 0 BRUCE GILBERTSON END 31221 FORMER VP FACILITIES & REAL ESTATE 0 0 0 0 102255 0 3553 0 0 0 105808 0 0 0 JOHN BASEHORE END 111922 FORMER VP & TREASURER 0 0 0 0 105349 0 0 0 0 0 105349 0 0 0 ANNE F ROCKEY END 31221 FORMER VP - OPERATIONS 0 0 0 0 103595 0 0 0 0 0 103595 0 0 0 DEBRA STERWARD END 42922 FORMER TRUSTEE 35333 0 0 0 0 0 0 0 0 0 35333 0 0 0 WADE HENDERSON END 42922 FORMER TRUSTEE 31333 0 0 0 0 0 0 0 0 0 31333 0 0 0 DEBORAH QUAZZO END 21922 FORMER TRUSTEE 27000 0 0 0 0 0 0 0 0 0 27000 0 0 0 PART I, LINE 1A TAX GROSS-UP PAYMENTS/PERSONAL SERVICES: NINETEEN OFFICERS RECEIVED THIS BENEFIT (RELATED TO FINANCIAL PLANNING) DURING 2022. IT WAS TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUALS. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: ONE OFFICER RECEIVED THIS BENEFIT DURING 2022. IT WAS TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUAL. PART I, LINE 3 ETS ENGAGES AN EXTERNAL INDEPENDENT EXECUTIVE COMPENSATION CONSULTANT ORGANIZATION ("IECCO") TO REVIEW AND ADVISE ON WORKER COMPENSATION LAWS. FURTHER, THE IECCO 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 IECCO 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. PART I, LINES 4A-B LINE 4A: THE FOLLOWING CURRENT OFFICERS AND/OR FORMER OFFICERS; WALTER MACDONALD, EDDIE MONTEIRO, SCOTT V. WEAVER, JOHN BASEHORE, BRUCE GILBERTSON, DAVID G. PAYNE, AND ANNE ROCKEY RECEIVED SEVERANCE PAYMENTS OF $1,157,720, $200,000, $267,109, $101,779, $97,968, $105,810, AND $99,548 RESPECTIVELY, FROM THE ORGANIZATION IN 2022. LINE 4B: OFFICERS AND OTHER EXECUTIVES PARTICIPATED IN A SUPPLEMENTAL NON QUALIFIED RETIREMENT PLAN UNDER 457(F). THE NON-VESTED PORTION OF EACH OFFICER'S DEFERRED COMPENSATION IS REPORTED IN COLUMN C. THE VESTED PORTION OF EACH OFFICER'S DEFERRED COMPENSATION IS REPORTED IN COLUMNS B & F. PART I, LINE 6 ETS INCENTIVE COMPENSATION PROGRAMS ARE VARIABLE CASH COMPENSATION PROGRAMS TO PROVIDE EMPLOYEES EARNINGS OPPORTUNITIES IN ADDITION TO BASE PAY. THESE VARIABLE COMPENSATION COMPONENTS RECOGNIZE AND REWARD BASED ON INDIVIDUAL AND ETS PERFORMANCE. PAYMENT UNDER THESE PROGRAMS ARE REALIZED WHEN ETS MEETS AND ACHIEVES ITS ANNUAL PERFORMANCE TARGETS FOR THE YEAR, AS DETERMINED BY A HOLISTIC ASSESSMENT OF METRICS FROM ETS'S BALANCED SCORECARD OBJECTIVES INCLUDING FINANCIAL, OPERATIONAL, CUSTOMER AND GROWTH GOALS. PART I, LINE 7 ETS INCENTIVE COMPENSATION PROGRAMS ARE VARIABLE CASH COMPENSATION PROGRAMS TO PROVIDE EMPLOYEES EARNINGS OPPORTUNITIES IN ADDITION TO BASE PAY. THESE VARIABLE COMPENSATION COMPONENTS RECOGNIZE AND REWARD BASED ON INDIVIDUAL AND ETS PERFORMANCE. PAYMENT UNDER THESE PROGRAMS ARE REALIZED WHEN ETS MEETS AND ACHIEVES ITS ANNUAL PERFORMANCE TARGETS FOR THE YEAR, AS DETERMINED BY A HOLISTIC ASSESSMENT OF METRICS FROM ETS'S BALANCED SCORECARD OBJECTIVES INCLUDING FINANCIAL, OPERATIONAL, CUSTOMER AND GROWTH GOALS. NAIM ALPER FAMILY MEMBER OF OFFICER - KADRIYE ERICKAN-ALPER 227174 SALARY AND BENEFITS 0 CHRISTINE BETANELI FAMILY MEMBER OF OFFICER - PETER BETANELI 433774 SALARY AND BENEFITS 0 RICHARD HUDE FAMILY MEMBER OF OFFICER - TRACY HUDE 73626 SALARY AND BENEFITS 0 CARL KERI FAMILY MEMBER OF OFFICER - KERI THRERESA 45307 SALARY AND BENEFITS 0 FORM 990, PART VI, SECTION A, LINE 4 THE CURRENT ETS BYLAWS HAVE REMAINED UNCHANGED SINCE NOVEMBER 1, 2019, WHEN THE MAXIMUM NUMBER OF TRUSTEES WAS INCREASED TO PROVIDE THE OPPORTUNITY TO APPOINT ADDITIONAL TRUSTEES WITH HIGHLY DESIRED EXPERTISE. CHANGES IN THE BUSINESS NEEDS OF THE ORGANIZATION PROMPT SOME PROPOSED CHANGES, WHILE OTHER CHANGES ARE HOUSEKEEPING. AN OVERVIEW OF THE CHANGES IS SUMMARIZED BELOW. PROPOSED CHANGES REMOVE DATES RELATED TO TRANSITIONS OF FISCAL YEAR OR TIMING OF THE ANNUAL MEETING; REFERENCES TO THE COMMITTEE OF THE WHOLE SINCE ITS ELIMINATION IS PROPOSED; AND REFERENCES TO THE MERGERS, ACQUISITIONS, DIVESTITURES, AND INVESTMENTS SUBCOMMITTEE OF THE COMMITTEE ON FINANCE AND INVESTMENTS SINCE ITS FUNCTION WILL BE FOLDED BACK INTO THE COMMITTEE ON FINANCE. THE CHANGES EXPLICITLY ADD THE AUTHORIZATION TO FORM SUBSIDIARIES TO THE FORMATION OF OFFICES OF THE CORPORATION AND USE OF ELECTRONIC MEANS TO PROVIDE NOTICES FOR AMENDMENTS TO THE CHARTER AND BYLAWS, WHICH MAKES THOSE NOTIFICATIONS CONSISTENT WITH OTHER NOTICE REQUIREMENTS WITHIN THE BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B ALL TRUSTEES RECEIVE A COPY OF FORM 990 FOR REVIEW AND INFORMATION PRIOR TO BOARD OF TRUSTEES MEETING. FORM 990 IS REVIEWED BY THE BOARD OF TRUSTEES' AUDIT COMMITTEE AND THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE TRUSTEES OF EDUCATIONAL TESTING SERVICE, 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 TRUSTEE RECEIVES A COPY OF THE CODE OF ETHICS AND SIGNS A STATEMENT AGREEING TO ABIDE BY THE CODE. 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. 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 ETS IS A PARTY. THE AFFILIATION FORM REQUESTS INFORMATION REGARDING THE TRUSTEES EMPLOYMENT AS A STAFF MEMBER OR AS A CONSULTANT OF ETS, 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, 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. 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 OR SUBJECT TO ETS'S CONFLICT OF INTEREST POLICY, OR THAT ANY SALES REPRESENTATIVE, DISTRIBUTOR OR OTHER PERSON OR FIRM REPRESENTING ETS IN ANY TRANSACTION IS ENGAGED IN THE TYPE OF CONDUCT (WHETHER OR NOT IN CONNECTION WITH A TRANSACTION INVOLVING ETS 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 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 ETS ENGAGES AN EXTERNAL INDEPENDENT EXECUTIVE COMPENSATION CONSULTANT ORGANIZATION (IECCO) TO REVIEW AND ADVISE ON WORKER COMPENSATION LAWS. FURTHER, THE IECCO 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 IECCO 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 ETS DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G TEST ADMIN & CONSULTANTS: PROGRAM SERVICE EXPENSES 438,112,411. MANAGEMENT AND GENERAL EXPENSES 37,933,658. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 476,046,069. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF PENSION ADJUSTMENT -10,376,668. SUBSIDIARY EQUITY -11,702,000. SUBPART F INCOME INCLUSION -207,365. 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