College Entrance Examination Board

“College Board is a membership corporation chartered by the NYS Board of Regents whose members are institutions, systems, organizations and agencies engaged in or serving post-secondary/higher and secondary education and working to support preparation for and transition to post-secondary /higher education.”

“Members elect 30 of the 31 members of the governing body, the Board of Trustees, by appointing delegates who represent them at meetings of College Board, Regional Assemblies, and National Assemblies as follows: 9 Trustees are elected by 6 Regional Assemblies, 6 Trustees are elected by 3 National Assemblies, and 15 Trustees are elected at-large nationally. The CEO is appointed by the Trustees.”

“If the governing board proposes an amendment of the corporate Charter or bylaws, a two-thirds vote of the members is required to approve the proposed amendment. Members may also suspend the Bylaws with a unanimous vote when a quorum is present at a meeting.”

“The 990 is reviewed by College Board's public accounting firm, the Chief Accounting Officer & Treasurer, members of the senior management team, and the Audit Advisory Committee of the Board of Trustees before it is provided to the Board of Trustees for approval.”

“Annual Disclosure Statement - Each year, College Board provides the Trustees, Officers, and Executive Directors "College Board Conflict of Interest and Related Party Transaction Policy (Conflict of Interest Policy)" and requires them to sign annual disclosure statements, which are reviewed by College Board Offices of the Secretary and General Counsel. College Board Conflict of Interest Policy requires employees to report actual and potential conflicts in writing. A violation will result in immediate discipline, up to and including removal from the position or termination of employment. An Internet based ethics and compliance reporting system and a call center are also available for both employees and non-employees to raise concerns in an anonymous and confidential manner. Reports submitted are reviewed by College Board Office of the General Counsel.”

“The process for determining compensation for the organization's officers and top management is modeled after the requirements in the IRS Code Section 4958 to establish the presumption of reasonable compensation. Compensation was reviewed and recommended in advance of being paid by the Trustee Committee on Human Resources and Compensation and then approved by the Trustee Executive Committee. Both Committees are comprised of individuals who have no conflict of interest. Each year, the Trustee Committee on Human Resources and Compensation engages an independent third-party executive compensation consultant who provides comparable market data. The last year this data was provided is 2020. The compensation of the officers and top management is determined based on the market data. The Trustee Committee on Human Resources and Compensation conducted a review of the comparability data and documented its discussion and decisions in minutes that are retained with the organization's other governance materials.”

“The process for determining compensation for the organization's officers and top management is modeled after the requirements in the IRS Code Section 4958 to establish the presumption of reasonable compensation. Compensation was reviewed and recommended in advance of being paid by the Trustee Committee on Human Resources and Compensation and then approved by the Trustee Executive Committee. Both Committees are comprised of individuals who have no conflict of interest. Each year, the Trustee Committee on Human Resources and Compensation engages an independent third-party executive compensation consultant who provides comparable market data. The last year this data was provided is 2020. The compensation of the officers and top management is determined based on the market data. The Trustee Committee on Human Resources and Compensation conducted a review of the comparability data and documented its discussion and decisions in minutes that are retained with the organization's other governance materials.”

“College Board complies with all laws requiring public disclosure of governing documents, conflict of interest policies, and financial statement reporting. College Board's Bylaws, Charter, and Assembly Governance Plans are available at collegeboard.org.”

“(Expenses $ 39,555,773 including grants of $ 1,153,202)(Revenue $ 9,141,539) Other Services Research & Advocacy - College Board's Research and Advocacy efforts are related primarily to the areas of college preparation and access, college affordability and financial aid, college admission and completion, and the importance of teachers and school counselors. Membership - College Board works to strengthen relationships among members to achieve our shared goals through programs, services, and large-scale conferences, and seeks to foster community, expand knowledge, and enhance the education profession. Puerto Rico and Latin America - College Board Puerto Rico and Latin America develops programs and services especially designed for populations whose vernacular is Spanish and appropriate to the educational conditions of Latin America. These programs are aimed at systematizing the university evaluation and admission processes, strengthening academic and personal orientation, as well as promoting educational excellence.”

“Upon consideration of ASC 230-10-20, College Board determined that certain fixed income securities did not meet the criteria of cash and cash equivalents. As a result, there was a $28,355,935 reclassification from "Savings and temporary cash investments" to "Investments-publicly traded securities" for 2019 beginning balances.”

“Release of Temporarily Restricted Net Assets - -1655221; Post Retirement Benefits - -6888145;”