2021-08-06T03:50:13-05:00 2020-09-30 861065772 DELOITTE TAX LLP 2 JERICHO PLAZA JERICHO NY 11753 990 2019-10-01 210634479 EDUCATIONAL TESTING SERVICE EDUC 6099219000 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 JACK HAYON SVP & CHIEF FINANCIAL OFFICER 6099219000 2021-07-23 1 CHRISTINE KAWECKI P00743140 5169187000 2021-07-23 2019 2022-09-23 18:48:47Z JACK HAYON ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 1684492418 0 X WWW.ETS.ORG X 1947 NY SEE P.2, PART III: QUESTION 1 19 18 30871 0 8189910 0 10976917 5888044 1181552202 944976526 13648178 19826337 88223046 57185428 1294400343 1027876335 1207002 1093684 0 0 426135219 424165541 0 0 0 854906898 672985104 1282249119 1098244329 12151224 -70367994 2015061092 1873205474 523519491 460062296 1491541601 1413143178 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 853133072 1093684 832876526 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 PRAXIS, HISET, 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 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.DUE TO THE IMPACT OF COVID-19 ON THE BUSINESS, IN-PERSON ASSESSMENTS DRASTICALLY DECREASED AND NEW SOLUTIONS HAVE BEEN INTRODUCED WHEREBY CANDIDATES CAN TAKE THE TEST AT HOME RATHER THAN IN A TEST CENTER. HUMAN PROCTORS MONITOR TEST TAKERS' ACTIVITY "REMOTELY" THROUGHOUT THE TEST TO ENSURE NO INDIVIDUAL GAINS AN UNFAIR ADVANTAGE. THESE NEW AT HOME SOLUTIONS CONTINUE TO DEMAND SIGNIFICANT HUMAN INVOLVEMENT FROM THE U.S. BECAUSE THE DEVELOPMENT, SCORING AND PROCTORING OF THESE REMOTE TESTS ARE PERFORMED BY INDIVIDUALS LOCATED IN THE U.S. 105576683 112100000 ASSESSMENT ADMINISTRATION & DELIVERYETS PROVIDES TEST ADMINISTRATION AND DELIVERY SERVICES. ETS ADMINISTERS APPROXIMATELY 13 MILLION ASSESSMENTS ANNUALLY IN MORE THAN 9,000 LOCATION. 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. ASSESSMENT ADMINISTRATION STAFF ARE SUBJECT TO A RIGOROUS TRAINING AND APPROVAL PROCESS PRIOR TO THE ADMINISTRATION OF AN ASSESSMENT. FOR EXAMPLE, TEST CENTER ADMINISTRATORS MUST DEMONSTRATE THE ABILITY TO PERFORM PRIMARY RESPONSIBILITIES, SUCH AS ESTABLISHING A SECURE TESTING ENVIRONMENT AND MANAGING THE DAY-TO-DAY TESTING ACTIVITIES PRIOR TO ADMINISTRATION OF AN ASSESSMENT. THESE ACTIVITIES PROVIDE SUPPORT FOR THE ADMINISTRATION AND DELIVERY OF GROUP ASSESSMENTS IN NUMEROUS FORMATS AND USING A VARIETY OF MEANS.DUE TO THE IMPACT OF COVID-19 ON THE BUSINESS, IN-PERSON ASSESSMENTS WERE DRASTICALLY DECREASED AND SPECIFIC WORKAROUNDS HAVE BEEN INTRODUCED WHEREBY CANDIDATES CAN TAKE THE TEST AT HOME RATHER THAN IN A TEST CENTER. HUMAN PROCTORS MONITOR TEST TAKERS' ACTIVITY "REMOTELY" THROUGHOUT THE TEST TO SAFEGUARD AGAINST CHEATING. "REMOTE" PROCTORING PROVIDES CANDIDATES AN ALTERNATIVE TO TAKING THE TESTS IN A PHYSICAL TEST CENTER DUE TO CLOSURES AND SOCIAL DISTANCING MANDATES. THE "REMOTE PROCTORING" SOLUTION CONTINUES TO DEMAND SIGNIFICANT HUMAN INVOLVEMENT FROM THE U.S. BECAUSE THE DEVELOPMENT, SCORING AND NOW PROCTORING OF THESE TESTS TAKEN AT HOME CONTINUE TO BE PERFORMED BY INDIVIDUAL LOCATED IN THE U.S. 958709755 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 21476 0 30871 1 1 1 1 CA CH FR IS JO KS NL PL TU 0 0 0 0 0 0 0 0 1 0 X 19 18 0 0 0 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 MICHAEL J FREDDO VP & CONTROLLER 6099219000 ROSEDALE ROAD MS 20-J PRINCETON NJ 08541 BARBARA JENKINS FROM 112020 TRUSTEE 0.00 0.00 X 0 0 0 BEVERLY DANIEL TATUM TRUSTEE 2.00 0.00 X 126833 0 0 CANDACE THILLE FROM 1012019 TRUSTEE 2.00 0.00 X 18000 0 0 DARIENNE HUDSON TRUSTEE 2.00 0.00 X 69500 0 0 DEBORAH QUAZZO TRUSTEE 2.00 0.00 X 69500 0 0 DEBRA STEWART TRUSTEE 2.00 0.00 X 76417 0 0 EARL LEWIS TRUSTEE 2.00 0.00 X 90083 0 0 JAMES PELLEGRINO TRUSTEE 2.00 0.00 X 115850 0 0 JEFFREY SINE TRUSTEE 2.00 0.00 X 103417 0 0 KEVIN GUTHRIE FROM 1012019 TRUSTEE 2.00 0.00 X 18000 0 0 KURT LANDGRAF TRUSTEE 1.00 0.00 X 50667 0 0 MARTHA KANTER TRUSTEE 2.00 0.00 X 81500 0 0 MICHELA ENGLISH TRUSTEE 2.00 0.00 X 100583 0 0 MILDRED GARCIA TRUSTEE 2.00 0.00 X 69500 0 0 PATRICIA GANDARA TRUSTEE 2.00 0.00 X 87500 0 0 ROBERT LUMPKINS TRUSTEE 2.00 0.00 X 82750 0 0 WADE HENDERSON TRUSTEE 2.00 0.00 X 86417 0 0 WALTER MACDONALD PRESIDENT 40.00 0.00 X X 1369725 0 51134 WILHELM KRULL TRUSTEE 2.00 0.00 X 73500 0 0 ANDREAS ORANJE FROM 1192019 VP ASSESS & LEARNING TECH DEV 40.00 0.00 X 307876 0 66421 ANNE F ROCKEY VP - OPERATIONS 40.00 0.00 X 482147 0 49690 BRUCE GILBERTSON VP FACILITIES & REAL ESTATE 40.00 0.00 X 397213 0 25166 DAVID G PAYNE VP & COO GLOBAL EDUCATION 40.00 0.00 X 485771 0 54740 DAVID HOBSON VP & CORPORATE SECRETARY 40.00 0.00 X 406830 0 42150 DAVID HUNT EXECUTIVE VP & COO 40.00 0.00 X 761522 0 85634 DAVID WILLIAMSON VP NEW PRODUCT DEVELOPMENT 40.00 0.00 X 362224 0 63690 DIANE BAILEY SVP, PRODUCTION & DELIVERY 40.00 0.00 X 721190 0 64462 GLENN C SCHROEDER SVP & GENERAL COUNSEL 40.00 0.00 X 640555 0 52494 IDA LAWRENCE SR VP-RESEARCH & DEVELOPMENT 40.00 0.00 X 579887 0 49832 JACK HAYON SVP & CHIEF FINANCIAL OFFICER 40.00 0.00 X 738180 0 52751 JOANNA GORIN VP RESEARCH 40.00 0.00 X 558244 0 59988 JOHN BASEHORE VP & TREASURER 40.00 0.00 X 384770 0 58865 KADRIYE ERCIKAN-ALPER VP PSYCH, STAT & DATA SCIENCE 40.00 0.00 X 384499 0 60238 LILIAN M LOWERY VP & COO STA K12 & TLC 40.00 0.00 X 329476 0 34915 MARISA FARNUM END 1122019 VP-ASSESSMENT DEVELOPMENT 40.00 0.00 X 374551 0 42224 MICHAEL FREDDO VP & CONTROLLER 40.00 0.00 X 395103 0 46298 MICHAEL T NETTLES SVP-CTR POLICY EVAL & RSRCH 40.00 0.00 X 500672 0 55860 RALPH TAYLOR-SMITH FROM 6282019 VP CORPORATE DEVELOPMENT 20.00 0.00 X 209736 0 25692 REBECCA PFUND SVP & CHIEF INFO. OFFICER 40.00 0.00 X 538505 0 75924 SARA LESTER VP HUMAN RESOURCES & LEARNING 40.00 0.00 X 332541 0 68739 SCOTT FORRESTER NELSON SVP & CHIEF MARKETING OFFICER 40.00 0.00 X 732907 0 59873 SCOTT V WEAVER VP CHIEF STRATEGY OFFICER 40.00 0.00 X 482911 0 74435 SHEREE L JOHNSON-GREGORY DEPUTY GENERAL COUNSEL & CDO 40.00 0.00 X 535438 0 46466 TRACY HUDE FROM 9142019 VP - FINANCE 40.00 0.00 X 316883 0 35084 WILLIAM C DRAPER JR VP & COO COLLEGE BOARD 40.00 0.00 X 590390 0 29365 IRWIN KIRSCH TYLER CHAIR LG SCALE ASSESSMNT 40.00 0.00 X 395634 0 41383 MOHAMMAD KOUSHA GENERAL MANAGER 40.00 0.00 X 350843 0 36570 PATRICIA A KLAG GENERAL MANAGER AD 40.00 0.00 X 371912 0 39580 PETER CHAN GEN MGR APPLICATION DEVELOP 40.00 0.00 X 328990 0 61391 RANDY E BENNETT FREDERIKSEN CHAIR-ASSESS INNOV 40.00 0.00 X 380529 0 34462 ISAAC COLBERT END 1252019 FORMER TRUSTEE 1.00 0.00 X 10500 0 0 OFELIA GARCIA END 1252019 FORMER TRUSTEE 1.00 0.00 X 10500 0 0 ROBERT MURLEY END 532019 FORMER TRUSTEE 1.50 0.00 X 42083 0 0 DANIEL WAKEMAN END 1132018 FORMER OFFICER 0.00 0.00 X 425750 0 0 DEIRDRE ROBINSON FORMER OFFICER 0.00 0.00 X 240000 0 0 JOHN MAZZEO FORMER OFFICER 0.00 0.00 X 316233 0 28248 JOHN OSWALD END 282019 FORMER OFFICER 20.00 0.00 X 395190 0 20680 SANDRA HERNANDEZ END 8312019 FORMER OFFICER 40.00 0.00 X 339054 0 105823 STEPHEN K POTE FORMER OFFICER 0.00 0.00 X 226346 0 0 THOMAS J ELLIOTT FORMER OFFICER 0.00 0.00 X 135820 0 35785 YVETTE DONADO FORMER OFFICER 0.00 0.00 X 337500 0 41155 19546647 0 1877207 1401 1 1 0 PROMETRIC INC 1501 SOUTH CLINTON STREET BALTIMORE MD 21224 SUBCONTRACTING 70227370 ACCENTURE LLP 161 NORTH CLARK ST CHICAGO IL 60601 SUPPLY CHAIN 69008938 COMPUTER SCIENCES CORPORATION 3180 FAIRVIEW PARK DRIVE FALLS CHURCH VA 22042 COMPUTER SERVICES 45333418 ADECCO CORPORATION 175 BROAD HOLLOW ROAD MELVILLE NY 11747 TEMPORARY LABOR 25520366 PRICEWATERHOUSECOOPERS LLP 300 MADISON AVENUE NEW YORK NY 10017 PROJECT MANAGEMENT 24706528 272 5200843 687201 5888044 TEST DEVELOPMENT &SCOR 611710 832876526 832876526 TEST ADMIN & DELIVERY 611710 112100000 112100000 944976526 8256743 -288539 8545282 48688161 48688161 18818 0 18818 18818 18818 668185677 656616083 11569594 11569594 11569594 OCCUPATIONAL&PROF. SKI 611600 6884387 6884387 CHAUNCEY CONFERENC CEN 721000 1594062 1594062 8478449 1027876335 944976526 8189910 68821855 X 857993 857993 235691 235691 17431248 7131147 10300101 1380436 1380436 315154598 266441354 48713244 25962240 21814371 4147869 39662913 32861592 6801321 24574106 20648013 3926093 6531659 378744 6152915 3634750 3634750 47287 47287 5281145 5281145 422051871 392078574 29973297 19053943 18937128 116815 134644670 128919482 5725188 1639705 1639705 20032396 14330179 5702217 3777896 3089653 688243 657253 478978 178275 1341935 1341935 44192397 41349326 2843071 2467367 2467367 INCOME TAXES 5090870 5090870 CHAUNCEY CONFERENCE CEN 2151664 2151664 MEMBERSHIP AND DUES 388296 275291 113005 1098244329 958709755 139534574 0 483323 1399466 156655773 133544491 223529390 104067467 25681584 39266425 31054412 26597143 309884415 207359933 112260237 102524482 207122358 155398972 1119579153 1191882031 33659969 7785969 101453235 95219722 3581658 15519306 2015061092 1873205474 207944543 178688955 113305278 97047429 202269670 184325912 523519491 460062296 X 1491541601 1413143178 1491541601 1413143178 2015061092 1873205474 X -70367994 19069949 -27100378 X 0 1 X 1 1 1 X 8691255 8163384 9606303 10976917 5888044 43325903 1211680710 1227726560 1196751734 1182676188 945221153 5764056345 1220371965 1235889944 1206358037 1193653105 951109197 5807382248 0 525014890 525817956 552234747 528126041 413370549 2544564183 525014890 525817956 552234747 528126041 413370549 2544564183 3262818065 119884373 138342221 137763402 84093054 61971237 542054287 119884373 138342221 137763402 84093054 61971237 542054287 1340256338 1374232165 1344121439 1277746159 1013080434 6349436535 0.51390 0.50870 0.08540 0.09220 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 47287 47287 1098291616 1098338903 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 27376 49960 31005 47287 155628 250000 250000 250000 250000 1000000 1500000 PART II-A, LINE 2, LOBBYING ACTIVITIES: TOTAL ETS FEDERAL AND STATE LOBBYING EXPENSES WERE $47,287. THE TOTAL LOBBYING EXPENDITURES OF ETS WERE MINIMAL IN COMPARISON TO TOTAL REVENUES. 1970618 1970618 203620154 125522707 78097447 25412148 18819034 6593114 78881495 63018192 15863303 102524482 INVESTMENT IN AFFILIATED ENTITIES 18422930 F NON-PUBLICLY TRADED SECURITIES 1173459101 F 1191882031 SHORT TERM DEBT 15910532 INTERCOMPANY PAYABLE 11226 LONG TERM DEBT 27809263 OTHER LONG TERM LIABILITIES 140594891 184325912 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. CENTRAL AMERICA AND THE CARIBBEAN 0 278 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 260635 EAST ASIA AND THE PACIFIC 0 1764 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 6007840 EUROPE (INCLUDING ICELAND & GREENLAND) 0 414 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 47706084 MIDDLE EAST AND NORTH AFRICA 0 706 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 1700429 NORTH AMERICA 0 292 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 12786171 RUSSIA AND NEIGHBORING STATES 0 230 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 353561 SOUTH AMERICA 0 366 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 799456 SOUTH ASIA 0 882 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 2829690 SUB-SAHARAN AFRICA 0 335 PROGRAM SERVICES ASSESSMENT ADMINISTRATION 764050 NORTH AMERICA 0 0 INVESTMENTS 452015 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 28151661 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 171887998 0 4932 0 335 0 5267 72443866 201255724 273699590 1 0 1 1 1 1 PART III ACCOUNTING METHOD: 1 AMERICAN ASSOC OF HISPANICS IN HIGHER ED (AAHHE) C/O ARIZONA STATE UNIVERSITY TEMPE AZ 85287 300150324 501(C)(3) 50000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS AMERICAN EDUCATION RESEARCH ASSOCIATION (AERA) 1430 K ST NW SUITE 1200 WASHINGTON DC 20005 237003537 501(C)(3) 5000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS ASIAN AND PACIFIC ISLANDER AMERICAN SCHOLARSHIP FUND 2025 M STREET NW SUITE 610 WASHINGTON DC 20036 571192973 501(C)(3) 10000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS BOYS & GIRLS CLUB OF MERCER COUNTY 212 CENTRE STREET TRENTON NJ 08611 210634556 501(C)(3) 6268 FMV CATERING AND SUPPLIES SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS CHILDREN'S DEFENSE FUND 25 E STREET NW WASHINGTON DC 20001 520895622 501(C)(3) 110000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS COMMUNITIES IN SCHOOLS OF SAN ANTONIO 1616 E COMMERCE BLDG 1 SAN ANTONIO TX 78205 742393714 501(C)(3) 25240 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS COUNCIL OF CHIEF STATE SCHOOL OFFICERS ONE MASSACHUSSETTS AVE NW SUITE 700 WASHINGTON DC 20001 530198090 501(C)(3) 70515 FMV CATERING AND SUPPLIES SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS COURT APPOINTED SPECIAL ADVOCATES OF MERCER COUNTY INC 1450 PARKSIDE AVENUE SUITE 22 EWING NJ 08638 223770968 501(C)(3) 14000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS EDUCATION LAW CENTER INC 60 PARK PLACE SUITE 300 NEWARK NJ 07102 222104555 501(C)(3) 15100 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS EWING HIGH SCHOOL 900 PARKWAY AVE EWING NJ 08618 GOVERNMENT ENTITY 5830 FMV CATERING AND SUPPLIES SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS HADDONFIELD BOARD OF EDUCATION 1 LINCOLN AVENUE HADDONFIELD NJ 08033 216000200 501(C)(3) 53312 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS HISPA INC PO BOX 702 PRINCETON NJ 08542 521825305 501(C)(3) 35518 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS JUNIOR ACHIEVEMENT OF NEW JERSEY 360 PEAR BLOSSOM DRIVE EDISON NJ 08837 221774147 501(C)(3) 25000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS KIDSBRIDGE INC 999 LOWER FERRY ROAD EWING NJ 08628 223438541 501(C)(3) 5000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS LAWRENCE TOWNSHIP EDUCATION FOUNDATION 17 PHILLIPS AVE LAWRENCEVILLE NJ 08648 223192024 501(C)(3) 89521 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS LIFE PIECES TO MASTERPIECES INC 5600 EADS STREET NE - 4TH FLOOR WASHINGTON DC 20019 522076894 501(C)(3) 25000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS MCCARTER THEATRE CENTER 91 UNIVERSITY PLACE PRINCETON NJ 08540 210724198 501(C)(3) 10338 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS MERCER COUNTY COMMUNITY COLLEGE FOUNDATION 1200 OLD TRENTON ROAD WEST WINDSOR NJ 08550 222133029 501(C)(3) 14000 4000 FMV CATERING AND SUPPLIES SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS NATIONAL INDIAN EDUCATION ASSOCIATION 1514 P STREET NW SUITE B WASHINGTON DC 20005 410976048 501(C)(3) 25000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS NATIONAL URBAN LEAGUE INC 80 PINE STREET 9TH FLOOR NEW YORK NY 10005 131840489 501(C)(3) 30000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS OPPORTUNITY JUNCTION INC 3102 DELTA FAIR BLVD ANTIOCH CA 94509 680459131 501(C)(3) 10000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS PARENTS STEP AHEAD INC 2102 EMPIRE CENTRAL DALLAS TX 75235 262477378 501(C)(3) 25000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS PRINCETON MERCER REGIONAL CHAMBER OF COMMERCE 182 NASSAU STREET SUITE 301 PRINCETON NJ 08542 210722138 501(C)(3) 5000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS SHILOH COMMUNITY DEVELOPMENT CORP (TRENTON FREEDOM SCHOOL) PO BOX 398 TRENTON NJ 08603 123799161 501(C)(3) 5000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS SOUTHERN EDUCATION FOUNDATION INC 101 MARIETTA STREET NW SUITE 1650 ATLANTA GA 30303 135562388 501(C)(3) 5000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS THE LEADERSHIP CONFERENCE EDUCATION FUND 1620 L STREET NW SUITE 1100 WASHINGTON DC 20036 237026895 501(C)(3) 25000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS TIDES FOUNDATION PO BOX 29903 SAN FRANCISCO CA 94129 510198509 501(C)(3) 25000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS UNITED WAY OF GREATER MERCER COUNTY 3150 BRUNSWICK PIKE SUITE 230 LAWRENCEVILLE NJ 08648 210683073 501(C)(3) 50240 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS YOUNG AUDIENCES OF NEW JERSEY INC 200 FORRESTAL ROAD PRINCETON NJ 08540 237384991 501(C)(3) 50000 SUPPORT OF LOCAL COMMUNITY EDUCATIONAL PROGRAMS 29 0 HISTORICALLY BLACK COLLEGES AND UNIVERSITIES PRESIDENTIAL SCHOLARSHIP 12 123641 TRENTON CENTRAL HIGH SCHOOL SCHOLARSHIP 15 112050 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 2020, 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 RECEIVED 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 PRESIDENT 725945 0 425000 0 218780 0 33450 0 17684 0 1420859 0 0 0 ANDREAS ORANJE FROM 1192019 VP ASSESS & LEARNING TECH DEV 220754 0 67885 0 19237 0 39344 0 27077 0 374297 0 0 0 ANNE F ROCKEY VP - OPERATIONS 251422 0 103900 0 126825 0 31654 0 18036 0 531837 0 87096 0 BRUCE GILBERTSON VP FACILITIES & REAL ESTATE 217413 0 115088 0 64712 0 25166 0 0 0 422379 0 0 0 DAVID G PAYNE VP & COO GLOBAL EDUCATION 270652 0 142088 0 73031 0 28507 0 26233 0 540511 0 0 0 DAVID HOBSON VP & CORPORATE SECRETARY 204537 0 135988 0 66305 0 24132 0 18018 0 448980 0 0 0 DAVID HUNT EXECUTIVE VP & COO 389186 0 325125 0 47211 0 57648 0 27986 0 847156 0 0 0 DAVID WILLIAMSON VP NEW PRODUCT DEVELOPMENT 212186 0 129800 0 20238 0 35646 0 28044 0 425914 0 0 0 DIANE BAILEY SVP, PRODUCTION & DELIVERY 309037 0 215800 0 196353 0 47194 0 17268 0 785652 0 98777 0 GLENN C SCHROEDER SVP & GENERAL COUNSEL 353214 0 226200 0 61141 0 33306 0 19188 0 693049 0 0 0 IDA LAWRENCE SR VP-RESEARCH & DEVELOPMENT 321353 0 182000 0 76534 0 31148 0 18684 0 629719 0 0 0 JACK HAYON SVP & CHIEF FINANCIAL OFFICER 366831 0 286300 0 85049 0 33450 0 19301 0 790931 0 0 0 JOANNA GORIN VP RESEARCH 240940 0 125875 0 191429 0 41487 0 18501 0 618232 0 0 0 JOHN BASEHORE VP & TREASURER 219493 0 119588 0 45689 0 38764 0 20101 0 443635 0 0 0 KADRIYE ERCIKAN-ALPER VP PSYCH, STAT & DATA SCIENCE 208933 0 122400 0 53166 0 33730 0 26508 0 444737 0 0 0 LILIAN M LOWERY VP & COO STA K12 & TLC 269398 0 0 0 60078 0 26815 0 8100 0 364391 0 0 0 MARISA FARNUM END 1122019 VP-ASSESSMENT DEVELOPMENT 179036 0 135150 0 60365 0 25861 0 16363 0 416775 0 0 0 MICHAEL FREDDO VP & CONTROLLER 205812 0 125625 0 63666 0 27054 0 19244 0 441401 0 0 0 MICHAEL T NETTLES SVP-CTR POLICY EVAL & RSRCH 272265 0 159250 0 69157 0 28483 0 27377 0 556532 0 0 0 RALPH TAYLOR-SMITH FROM 6282019 VP CORPORATE DEVELOPMENT 151401 0 0 0 58335 0 21404 0 4288 0 235428 0 0 0 REBECCA PFUND SVP & CHIEF INFO. OFFICER 282507 0 211250 0 44748 0 50164 0 25760 0 614429 0 0 0 SARA LESTER VP HUMAN RESOURCES & LEARNING 238377 0 75000 0 19164 0 41739 0 27000 0 401280 0 0 0 SCOTT FORRESTER NELSON SVP & CHIEF MARKETING OFFICER 296178 0 186725 0 250004 0 33365 0 26508 0 792780 0 138118 0 SCOTT V WEAVER VP CHIEF STRATEGY OFFICER 269837 0 179250 0 33824 0 45668 0 28767 0 557346 0 0 0 SHEREE L JOHNSON-GREGORY DEPUTY GENERAL COUNSEL & CDO 266830 0 211943 0 56665 0 28782 0 17684 0 581904 0 0 0 TRACY HUDE FROM 9142019 VP - FINANCE 194879 0 77034 0 44970 0 33476 0 1608 0 351967 0 0 0 WILLIAM C DRAPER JR VP & COO COLLEGE BOARD 243694 0 156200 0 190496 0 26665 0 2700 0 619755 0 95200 0 IRWIN KIRSCH TYLER CHAIR LG SCALE ASSESSMNT 284475 0 79048 0 32111 0 25183 0 16200 0 437017 0 0 0 MOHAMMAD KOUSHA GENERAL MANAGER 157853 0 57422 0 135568 0 23369 0 13201 0 387413 0 0 0 PATRICIA A KLAG GENERAL MANAGER AD 223170 0 57760 0 90982 0 22660 0 16920 0 411492 0 0 0 PETER CHAN GEN MGR APPLICATION DEVELOP 235380 0 67481 0 26129 0 34883 0 26508 0 390381 0 0 0 RANDY E BENNETT FREDERIKSEN CHAIR-ASSESS INNOV 315789 0 34653 0 30087 0 24906 0 9556 0 414991 0 0 0 ISAAC COLBERT END 1252019 FORMER TRUSTEE 10500 0 0 0 0 0 0 0 0 0 10500 0 0 0 OFELIA GARCIA END 1252019 FORMER TRUSTEE 10500 0 0 0 0 0 0 0 0 0 10500 0 0 0 ROBERT MURLEY END 532019 FORMER TRUSTEE 42083 0 0 0 0 0 0 0 0 0 42083 0 0 0 DANIEL WAKEMAN END 1132018 FORMER OFFICER 0 0 0 0 425750 0 0 0 0 0 425750 0 0 0 DEIRDRE ROBINSON FORMER OFFICER 0 0 0 0 240000 0 0 0 0 0 240000 0 0 0 JOHN MAZZEO FORMER OFFICER 263755 0 24985 0 27493 0 28248 0 0 0 344481 0 0 0 JOHN OSWALD END 282019 FORMER OFFICER 36983 0 101588 0 256619 0 17763 0 2917 0 415870 0 0 0 SANDRA HERNANDEZ END 8312019 FORMER OFFICER 157542 0 145200 0 36312 0 93297 0 12526 0 444877 0 0 0 STEPHEN K POTE FORMER OFFICER 0 0 0 0 226346 0 0 0 0 0 226346 0 0 0 THOMAS J ELLIOTT FORMER OFFICER 116183 0 4751 0 14886 0 16290 0 19495 0 171605 0 0 0 YVETTE DONADO FORMER OFFICER 0 0 0 0 337500 0 41155 0 0 0 378655 0 0 0 PART I, LINE 1A TAX GROSS-UP PAYMENTS/PERSONAL SERVICES: TWENTY TWO OFFICERS RECEIVED THIS BENEFIT (RELATED TO FINANCIAL PLANNING) DURING 2019. IT WAS TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUALS. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: ONE OFFICER RECEIVED THIS BENEFIT DURING 2019. 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 PRESIDENT 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: FIVE OFFICERS, YVETTE DONADO, STEPHEN POTE, DIERDRE ROBINSON, DANIEL WAKEMAN AND JOHN OSWALD RECEIVED SEVERANCE PAYMENTS OF $337,500, $226,346, $240,000, $420,750 AND $245,596 RESPECTIVELY, FROM THE ORGANIZATION IN 2019. 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. THERESA M SANCHEZ-LAZER FAMILY MEMBER OF STEPHEN LAZER, FORMER OFFICER 212002 SALARY AND BENEFITS 0 IRENE ELLIOTT FAMILY MEMBER OF THOMAS J. ELLIOTT, FORMER OFFICER 74292 SALARY AND BENEFITS 0 RAYMOND GREGORY FAMILY MEMBER OF SHEREE L JOHNSON - GREGORY, OFFICER 54617 SALARY AND BENEFITS 0 RICHARD HUDE FAMILY MEMBER OF TRACY HUDE, OFFICER 105865 SALARY AND BENEFITS 0 NAIM ALPER FAMILY MEMBER OF KADRIYE ERCIKAN-ALPER, OFFICER 99788 SALARY AND BENEFITS 0 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 INFORMATION REGARDING WHETHER ANY TRUSTEE HAS 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 AND CHIEF ETHICS OFFICER. 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 AND CHIEF ETHICS OFFICER. 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 AND CONSULTANTS: PROGRAM SERVICE EXPENSES 268,386,922. MANAGEMENT AND GENERAL EXPENSES 24,035,272. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 292,422,194. SUBCONTRACTING COSTS: PROGRAM SERVICE EXPENSES 123,691,652. MANAGEMENT AND GENERAL EXPENSES 5,969,030. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 129,660,682. : PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES -31,005. FUNDRAISING EXPENSES 0. TOTAL EXPENSES -31,005. FORM 990, PART XI, LINE 9: POSTRETIREMENT BENEFITS 7,051,116. SUBSIDIARY EQUITY -34,039,434. ROUNDING 285. SUBPART F INCOME INCLUSION -112,345. 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