2026-08-12T13:20:52-05:00 2025-09-30 861065772 DELOITTE TAX LLP 50 SOUTH SIXTH STREET MINNEAPOLIS MN 55402 990 2024-10-01 210634479 EDUCATIONAL TESTING SERVICE EDUC 6099219000 660 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 RUMA MUKERJI CHIEF FINANCIAL OFFICER 6099219000 2026-08-06 1 0 ANNA KOLAKALURI P01275237 6123974000 2026-08-04 2024 2025-03-06 01:10:19Z RUMA MUKERJI 660 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 1014001606 0 X WWW.ETS.ORG X 1947 NY SEE PAGE 2, PART III, QUESTION 1 16 15 4548 0 15342028 0 6265513 6155518 908964533 660087144 96182916 43478284 80186498 82301004 1091599460 792021950 762250 464444 0 0 412452044 296545818 0 0 0 656044591 459377975 1069258885 756388237 22340575 35633713 1707663326 1558468865 296696326 223669009 1410967000 1334799856 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. MISSION OUR 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. VISION TO 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 570045082 464444 571218455 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.PROGRAM SERVICE REVENUE DECREASED DURING FY2025 PRIMARILY DUE TO REDUCTIONS IN ASSESSMENT ACTIVITY AND PROGRAM DEMAND COMPARED TO THE PRIOR YEAR, CONSISTENT WITH BROADER TRENDS IN THE EDUCATIONAL ASSESSMENT INDUSTRY. 66016778 88310245 ASSESSMENT ADMINISTRATION & DELIVERY THE 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. 636061860 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 0 1 1 1 0 0 1 X 662 0 4548 1 1 1 1 AE CA CH EI FR GM HK IN IS IT JA KS NL PL SA SP SW TU UK 0 0 0 0 0 0 0 0 1 0 X 16 15 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 PRESIDENT & CEO 40.00 0.00 X X 2032670 0 151798 EARL LEWIS TRUSTEE 2.00 0.00 X 125391 0 0 YOUNGSUK CHI TRUSTEE 2.00 0.00 X 123444 0 0 JAMES PELLEGRINO TRUSTEE 2.00 0.00 X 114129 0 0 KEVIN GUTHRIE TRUSTEE 2.00 0.00 X 101765 0 0 MILDRED GARCA TRUSTEE 2.00 0.00 X 95088 0 0 LAVERNE SRINIVASAN TRUSTEE 2.00 0.00 X 94571 0 0 BARBARA JENKINS TRUSTEE 2.00 0.00 X 94340 0 0 KURT LANDGRAF TRUSTEE 2.00 0.00 X 77407 0 0 DARIENNE DRIVER HUDSON TRUSTEE 2.00 0.00 X 75000 0 0 JEFFREY SINE TRUSTEE 2.00 0.00 X 75000 0 0 BEVERLY DANIEL TATUM TRUSTEE 2.00 0.00 X 74000 0 0 WILHELM KRULL TRUSTEE 2.00 0.00 X 72000 0 0 CANDACE MARIE THILLE TRUSTEE 2.00 0.00 X 70062 0 0 ANTONIA HERNNDEZ TRUSTEE 2.00 0.00 X 63000 0 0 MARIET WESTERMANN TRUSTEE 2.00 0.00 X 62000 0 0 RALPH TAYLOR-SMITHEND 1012024 VP CORPORATE DEVELOPMENT 0.00 0.00 X 1187598 0 28358 JEFFREY ALAN MELNICK SVP & CHIEF FINANCIAL OFFICER 40.00 0.00 X 975965 0 109819 STEVEN E SANTANA CHIEF INFORMATION OFFICER 40.00 0.00 X 965135 0 100565 ROHIT SHARMA END 09302025 SVP GLOB HIGHER ED & WORKSKILL 40.00 0.00 X 877173 0 80380 PAUL GOLLASH VP, K-12-PRAXIS 40.00 2.00 X 795032 0 88660 MICHELLE ELAINE FROAH END 9302025 SVP GLOBAL STRATEGY & GROWTH 40.00 0.00 X 814466 0 59712 SCOTT NELSON END 112025 SVP & CHIEF MARKETING OFFICER 40.00 0.00 X 693436 0 63491 WALLACE FRANK DALRYMPLE JR VP, CHIEF SECURITY OFFICER 40.00 0.00 X 638530 0 86722 DENNIS STETZEL SVP, PRODUCTION & DELIVERY 40.00 0.00 X 627502 0 67562 KADRIYE ERCIKAN-ALPER VP PSYCH, STAT & DATA SCIENCE 40.00 2.00 X 606675 0 50853 KAREN ELIZABETH BARTON VP ASSESSMENT OPERATIONS 40.00 0.00 X 565349 0 83559 BETANELIPETER V VP, DEP GEN COUNS & CORP SEC 40.00 0.00 X 593477 0 43415 RUKSHANA MAZAGONWALLA END 060225 VP, HR 40.00 0.00 X 542716 0 73522 MOHAMMAD KOUSHA END 112025 VP, GLOBAL GROWTH 40.00 0.00 X 565277 0 49554 KELLY L ODENHEIMER END 112025 VP, CUSTOMER CARE 40.00 0.00 X 512348 0 79773 RICK H SINKFIELD BEG 072924 CHIEF LEGAL OFFICER 40.00 0.00 X 239134 0 39444 STRAUSS SHARON CHIEF PEOPLE OFFICER 40.00 0.00 X 88632 0 14910 PETER CHAN EXECUTIVE DIRECTOR OF IT 40.00 0.00 X 593939 0 77556 RUMA MUKERJI MANAGING DIRECTOR, FP&A 40.00 0.00 X 580536 0 54967 RAJEEV GARSIDE GLOBAL MNG DIR FINANCE AND OPS 40.00 0.00 X 551129 0 75773 SARAH L RHAME MANAGING DIRECTOR, OCEO 40.00 0.00 X 478177 0 73403 EMAL DUSST MD, ETS CAPITAL 40.00 0.00 X 436548 0 41595 KARA N MCWILLIAMS END 8172024 FORMER VP, PRODUCT INNOVATION & DEV. 40.00 0.00 X 852287 0 40318 SHEREE L GREGORY END 100723 FORMER DEPUTY GENERAL COUNSEL & CDO 0.00 0.00 X 716979 0 0 JOANNA GORIN END 100122 FORMER VP RESEARCH 0.00 0.00 X 625000 0 0 IDA LAWRENCE END 100323 FORMER SR VP-RESEARCH & DEV. & CHAIR 0.00 0.00 X 511269 0 0 JACK HAYON END 30223 FORMER SVP & CHIEF FINANCIAL OFFICER 0.00 0.00 X 306634 0 0 DRAPER JR WILLIAM C END 712023 FORMER VP & COO COLLEGE BOARD 0.00 0.00 X 246260 0 33125 MICHAEL FREDDO END 20223 FORMER VP & CONTROLLER 0.00 0.00 X 178031 0 28154 HUDE TRACY END 322023 FORMER VP - FINANCE 0.00 0.00 X 185143 0 0 ROSA KIM TILTON END 30223 FORMER CORPORATE SECRETARY 0.00 0.00 X 177146 0 0 21077390 0 1696988 1415 1 1 0 CAMBIUM ASSESSMENT INC 1000 THOMAS JEFFERSON STREET NW WASHINGTON DC 20007 SUBCONTRATING 31360255 CAPGEMINI AMERICA INC 623 FIFTH AVENUE NEWYORK NY 10022 CONSULTING SVC 27878369 ACCENTURE LLP 161 NORTH CLARK STREET CHICAGO IL 60601 SUPPLY CHAIN 19762260 PROMETRIC LLC 1501 SOUTH CLINTON STREET BALTIMORE MD 21224 SUBCONTRACTING 16277022 AMAZON WEB SERVICES INC 410 TERRY AVENUE NORTH SEATTLE WASHINGTON WA 98109 IT SERVICES 13702342 294 4919802 1235716 6155518 TEST DEVELOPMENT & SCO 611710 571778646 571778646 TEST ADMIN & DELIVERY 611710 88308498 88308498 660087144 23129559 14267892 311681 8549986 67059953 67059953 210704 0 210704 210704 210704 242328381 221979656 20348725 20348725 20348725 OCCUPATIONAL & PROFESS 611600 11363715 11363715 CHAUNCEY CONFERENCE CE 721000 3666632 3666632 15030347 792021950 674355036 15342028 96169368 X 101725 101725 362719 362719 18699188 4020198 14678990 1672849 1672849 237661973 188286802 49375171 18379811 14561336 3818475 4894571 3877705 1016866 15237426 12071793 3165633 3861268 625917 3235351 2814004 92585 2721419 105000 105000 318966119 297431116 21535003 496997 480494 16503 56401855 47744417 8657438 972174 972174 11041565 10949356 92209 4190904 2795750 1395154 1444078 804506 639572 177431 177431 41835109 38764243 3070866 3211882 3211882 MISCELLANEOUS 7733333 4401996 3331337 CHAUNCEY CONFERENCE CEN 5476838 5476838 MEMBERSHIPS AND DUES 549827 185319 364508 INCOME TAXES 99591 99591 756388237 636061860 120326377 0 10568672 91243 36126000 73151039 0 0 94617879 92227475 247873731 237280785 18754941 15277811 237937537 179855912 65914980 58081625 74681448 1080552647 906225661 82777986 70210182 70476490 31241596 1707663326 1558468865 191957973 136838123 0 44236109 39360569 60502244 47470317 296696326 223669009 X 1410967000 1334799856 1410967000 1334799856 1707663326 1558468865 X 35633713 -33271110 -78529747 X 0 1 X 1 1 1 X 4572369 5080530 6457641 6265512 6155517 28531569 969524994 960231330 878818098 908197357 659528700 4376300479 974097363 965311860 885275739 914462869 665684217 4404832048 0 279447986 266316466 243209016 235286411 178563131 1202823010 279447986 266316466 243209016 235286411 178563131 1202823010 3202009038 79870513 76228341 72791037 69959746 90958660 389808297 79870513 76228341 72791037 69959746 90958660 389808297 1053967876 1041540201 958066776 984422615 756642877 4794640345 0.66780 0.64120 0.08130 0.07140 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 105000 105000 756283236 756388236 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 125870 106892 56400 105000 394162 250000 250000 250000 250000 1000000 1500000 PART II-A, LINE 2, LOBBYING ACTIVITIES: TOTAL ETS FEDERAL AND STATE LOBBYING EXPENSES WERE $105,000.00. THE TOTAL LOBBYING EXPENDITURES OF ETS WERE MINIMAL IN COMPARISON TO TOTAL REVENUES. 1197618 1197618 153650832 108881385 44769447 18721124 17355104 1366020 64367963 53619423 10748540 58081625 INVESTMENT IN AFFILIATED ENTITIES 273635426 F NON-PUBLICLY TRADED SECURITIES 632590235 F 906225661 OTHER LONG TERM LIABILITIES 47470317 47470317 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. FOR THE YEAR ENDED SEPTEMBER 30, 2025, ETS RECOGNIZED AN INCOME TAX BENEFIT OF APPROXIMATELY $3.6 MILLION RELATED TO A CHANGE IN ITS INCOME TAX RESERVE BALANCE. AS OF SEPTEMBER 30, 2025, THE AMOUNT OF INCOME TAX RESERVE STANDS AT NIL. CENTRAL AMERICA AND THE CARIBBEAN 50 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 81559 EAST ASIA AND THE PACIFIC 192 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 10972018 EUROPE (INCLUDING ICELAND & GREENLAND) 294 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 25531539 MIDDLE EAST AND NORTH AFRICA 86 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 2692990 NORTH AMERICA 100 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 3184370 RUSSIA AND NEIGHBORING STATES 75 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 190023 SOUTH AMERICA 121 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 541401 SOUTH ASIA 70 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 22527629 SUB-SAHARAN AFRICA 61 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 501770 CENTRAL AMERICA AND THE CARIBBEAN 0 INVESTMENTS INVESTMENTS EUROPE (INCLUDING ICELAND & GREENLAND) 0 INVESTMENTS INVESTMENTS NORTH AMERICA 0 INVESTMENTS INVESTMENT IN SUBSIDIARIES EUROPE (INCLUDING ICELAND & GREENLAND) 0 INVESTMENTS INVESTMENT IN SUBSIDIARIES 0 988 0 61 0 1049 65721529 501770 66223299 1 0 1 1 1 1 1 LAWRENCE TOWNSHIP EDUCATION FOUNDATION PO BOX 6531 LAWRENCEVILLE NJ 08648 223192024 501(C)(3) 25000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS SHILOH COMMUNITY DEVELOPMENT CORP 416 BELLEVUE AVE SUITE 407 TRENTON NJ 08618 123799161 501(C)(3) 20000 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS TRENTON AREA SOUP KITCHEN PO BOX 872 TRENTON NJ 08605 222392881 501(C)(3) 7500 0 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS 4 0 HISTORICALLY BLACK COLLEGES AND UNIVERSITIES PRESIDENTIAL SCHOLARSHIP 14 188799 TRENTON CENTRAL HIGH SCHOOL SCHOLARSHIP 11 90000 GEORGETOWN UNIVERSITY 3 15000 BARNARD COLLEGE 1 5000 GRAMBLING STATE UNIVERSITY 1 5000 MONTCLAIR STATE UNIVERSITY 1 5000 STOCKTON UNIVERSITY 1 7500 THE COLLEGE OF NEW JERSEY 1 5000 THE UNIVERSITY OF SOUTH FLORIDA BOARD OF TRUSTEES 1 10000 UNIVERSITY OF SOUTH ALABAMA 1 20000 WASHINGTON UNIVERSITY 1 3920 WAYNE STATE UNIVERSITY 1 7500 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 2025, 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 AMIT SEVAK PRESIDENT & CEO 858103 0 938050 0 236517 0 119357 0 32441 0 2184468 0 0 0 RALPH TAYLOR-SMITHEND 1012024 VP CORPORATE DEVELOPMENT 278648 0 236013 0 672937 0 28358 0 0 0 1215956 0 101109 0 JEFFREY ALAN MELNICK SVP & CHIEF FINANCIAL OFFICER 520872 0 411950 0 43143 0 68495 0 41324 0 1085784 0 0 0 STEVEN E SANTANA CHIEF INFORMATION OFFICER 381878 0 533997 0 49260 0 58312 0 42253 0 1065700 0 0 0 ROHIT SHARMA END 09302025 SVP GLOB HIGHER ED & WORKSKILL 415005 0 411975 0 50193 0 60750 0 19630 0 957553 0 0 0 KARA N MCWILLIAMS END 8172024 FORMER VP, PRODUCT INNOVATION & DEV. 195629 0 151625 0 505033 0 19493 0 20825 0 892605 0 53062 0 PAUL GOLLASH VP, K-12-PRAXIS 395818 0 361875 0 37339 0 56087 0 32573 0 883692 0 0 0 MICHELLE ELAINE FROAH END 9302025 SVP GLOBAL STRATEGY & GROWTH 414019 0 337050 0 63397 0 59712 0 0 0 874178 0 0 0 SCOTT NELSON END 112025 SVP & CHIEF MARKETING OFFICER 366798 0 236913 0 89725 0 31050 0 32441 0 756927 0 24864 0 WALLACE FRANK DALRYMPLE JR VP, CHIEF SECURITY OFFICER 319551 0 259313 0 59666 0 50044 0 36678 0 725252 0 0 0 SHEREE L GREGORY END 100723 FORMER DEPUTY GENERAL COUNSEL & CDO 0 0 0 0 716979 0 0 0 0 0 716979 0 0 0 DENNIS STETZEL SVP, PRODUCTION & DELIVERY 336163 0 265925 0 25414 0 47931 0 19631 0 695064 0 0 0 PETER CHAN EXECUTIVE DIRECTOR OF IT 288318 0 129102 0 176519 0 41198 0 36358 0 671495 0 143813 0 KADRIYE ERCIKAN-ALPER VP PSYCH, STAT & DATA SCIENCE 283675 0 244481 0 78519 0 26952 0 23901 0 657528 0 13802 0 KAREN ELIZABETH BARTON VP ASSESSMENT OPERATIONS 281231 0 231763 0 52355 0 44831 0 38728 0 648908 0 0 0 BETANELIPETER V VP, DEP GEN COUNS & CORP SEC 260564 0 209100 0 123813 0 40485 0 2930 0 636892 0 0 0 RUMA MUKERJI MANAGING DIRECTOR, FP&A 287294 0 275000 0 18242 0 39846 0 15121 0 635503 0 0 0 RAJEEV GARSIDE GLOBAL MNG DIR FINANCE AND OPS 283774 0 231250 0 36105 0 42538 0 33235 0 626902 0 0 0 JOANNA GORIN END 100122 FORMER VP RESEARCH 0 0 625000 0 0 0 0 0 0 0 625000 0 0 0 RUKSHANA MAZAGONWALLA END 060225 VP, HR 256390 0 231900 0 54426 0 39009 0 34513 0 616238 0 0 0 MOHAMMAD KOUSHA END 112025 VP, GLOBAL GROWTH 318286 0 182000 0 64991 0 29924 0 19630 0 614831 0 16200 0 KELLY L ODENHEIMER END 112025 VP, CUSTOMER CARE 307251 0 171625 0 33472 0 44556 0 35217 0 592121 0 0 0 SARAH L RHAME MANAGING DIRECTOR, OCEO 280942 0 164820 0 32415 0 41352 0 32051 0 551580 0 0 0 IDA LAWRENCE END 100323 FORMER SR VP-RESEARCH & DEV. & CHAIR 0 0 0 0 511269 0 0 0 0 0 511269 0 0 0 EMAL DUSST MD, ETS CAPITAL 159471 0 251000 0 26077 0 24096 0 17499 0 478143 0 0 0 JACK HAYON END 30223 FORMER SVP & CHIEF FINANCIAL OFFICER 0 0 0 0 306634 0 0 0 0 0 306634 0 0 0 DRAPER JR WILLIAM C END 712023 FORMER VP & COO COLLEGE BOARD 0 0 0 0 246260 0 20139 0 12986 0 279385 0 0 0 RICK H SINKFIELD BEG 072924 CHIEF LEGAL OFFICER 133653 0 75015 0 30466 0 21462 0 17982 0 278578 0 0 0 MICHAEL FREDDO END 20223 FORMER VP & CONTROLLER 0 0 0 0 178031 0 17455 0 10699 0 206185 0 0 0 HUDE TRACY END 322023 FORMER VP - FINANCE 0 0 0 0 185143 0 0 0 0 0 185143 0 0 0 ROSA KIM TILTON END 30223 FORMER CORPORATE SECRETARY 0 0 0 0 177146 0 0 0 0 0 177146 0 0 0 PART I, LINE 1A TAX GROSS-UP PAYMENTS/PERSONAL SERVICES: NINETEEN OFFICERS RECEIVED THIS BENEFIT (RELATED TO FINANCIAL PLANNING) DURING 2025. IT WAS TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUALS. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: ONE OFFICER RECEIVED THIS BENEFIT DURING 2025. IT WAS TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUAL. PART I, LINES 4A-B LINE 4A: LINE 4A: THE CURRENT OR FORMER OFFICERS, MCWILLIAMS, KARA N;TAYLOR-SMITH, RALPH;DRAPER JR, WILLIAM C;FREDDO, MICHAEL; HAYON, JACK;HUDE, TRACY;JOHNSON-GREGORY, SHEREE L;LAWRENCE, IDA; NETTLES, MICHAEL T; TILTON,ROSA KIM; RECEIVED SEVERANCE PAYMENTS OF, $417,000; $507,900; $246,260; $178,031; $306,633; $185,143; $716,979; $511,269; $44,485; AND $177,145 RESPECTIVELY, FROM THE ORGANIZATION IN 2025. 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. PART I, LINE 3 ETS ENGAGES AN EXTERNAL INDEPENDENT EXECUTIVE COMPENSATION CONSULTANT ORGANIZATION ("IECCO") TO REVIEW AND ADVISE ON WORKERS COMPENSATION LAWS. FURTHER, THE IECCO PREPARES AN ANNUAL REPORT OF PROPOSED COMPENSATION FOR ETS' CEO AND OFFICERS EVALUATING THE REASONABLENESS OF THE COMPENSATION, AS DEFINED BY THE IRS INTERMEDIATE SANCTION RULES UNDER IRC SECTION 4958. THE REPORT ASSESSES THE RELEVANT LABOR MARKET FOR OFFICER ROLES USING NATIONAL DATA FROM COMPARABLE ORGANIZATIONS OF SIMILAR COMPLEXITY. THEN CONSISTENT WITH THE COMPOSITION OF THE LABOR MARKETS IN WHICH ETS COMPETES FOR EXECUTIVE TALENT, APPROPRIATE COMPARATIVE ANALYSIS ARE DEVELOPED FROM BOTH NOT-FOR-PROFIT AND FOR-PROFIT DATA. FINALLY, THE IECCO PREPARES A LETTER OF REASONABLENESS REGARDING THE ANALYSIS OF OFFICER PAY CONSISTENT WITH GOVERNMENT GUIDELINES WHICH IS PRESENTED TO THE GOVERNANCE AND HUMAN RESOURCES AND THE BOARD FOR REVIEW, COMMENT AND APPROVAL. NAIM ALPER FAMILY MEMBER OF OFFICER - KADRIYE ERICKAN-ALPER 206205 SALARY AND BENEFITS 0 CHRISTINE BETANELI FAMILY MEMBER OF OFFICER - PETER BETANELI 397995 SALARY AND BENEFITS 0 FORM 990, PART VI, SECTION A, LINE 4 ETS AMENDED ITS BYLAWS DURING THE YEAR TO DECREASE THE MAXIMUM AUTHORIZED NUMBER OF MEMBERS OF THE BOARD OF TRUSTEES FROM TWENTY-TWO TO EIGHTEEN, EFFECTIVE JUNE 26, 2025. UNDER THE AMENDED BYLAWS, THE CHIEF EXECUTIVE OFFICER COUNTS TOWARD THE EIGHTEEN-TRUSTEE MAXIMUM, SERVING AS A TRUSTEE UPON APPOINTMENT, WITH UP TO SEVENTEEN ADDITIONAL TRUSTEES ELECTED AT THE ANNUAL MEETING. AN OVERVIEW OF THE AMENDED PROVISION IS SUMMARIZED BELOW. SECTION 3. NUMBER, TERM OF OFFICE, ELECTION, AND ELIGIBILITY. THE BOARD OF TRUSTEES SHALL CONSIST OF UP TO EIGHTEEN TRUSTEES, CHOSEN IN THE FOLLOWING MANNER: THE CHIEF EXECUTIVE OFFICER OF THE CORPORATION, UPON APPOINTMENT AS CHIEF EXECUTIVE OFFICER BY THE BOARD OF TRUSTEES. AT THE ANNUAL MEETING, THE BOARD OF TRUSTEES SHALL ELECT SUCH A NUMBER OF TRUSTEES AS NEEDED TO MAINTAIN A BOARD OF UP TO SEVENTEEN TRUSTEES IN ADDITION TO THE CHIEF EXECUTIVE OFFICER OF THE CORPORATION. TRUSTEES SHALL BE ELECTED FOR A THREE-YEAR TERM FROM A PANEL OF CANDIDATES NOMINATED BY THE COMMITTEE ON GOVERNANCE AND HUMAN RESOURCES OF THE BOARD OF TRUSTEES OF THE CORPORATION OR NOMINATED BY ANY TRUSTEE AT THE MEETING. FORM 990, PART VI, SECTION B, LINE 11B ALL TRUSTEES RECEIVE A COPY OF FORM 990 FOR REVIEW AND INFORMATION. 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 297,431,116. MANAGEMENT AND GENERAL EXPENSES 21,535,003. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 318,966,119. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF PENSION ADJUSTMENT -23,185,911. SUBSIDIARY EQUITY -55,343,836. 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