Educational Testing Service Retiree: Form 990, tax year 2015
View the entire original 990 at ProPublica ↗
- Organization
- Educational Testing Service Retiree (EIN 22-3372287)
- Tax period
- 2015-01-01 to 2015-12-31
- Filed
- 2016-11-07
- IRS object ID
- 201633129349301423
- Schema version
- 2015v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2016-11-07T12:07:15-06:00 | ReturnTs |
| Tax Period End | 2015-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2015-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 223372287 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Educational Testing Service Retiree | BusinessNameLine1Txt |
| Business Name Line2 | Medical and Life Insurance Benefit Plan | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | EDUC | BusinessNameControlTxt |
| Phone | 6099219000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Rosedale Road MS 20-J | AddressLine1Txt |
| City | Princeton | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08541 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Glenn Schroeder | PersonNm |
| Person Title | EBAC Member | PersonTitleTxt |
| Phone | 6099219000 | PhoneNum |
| Signature | 2016-11-07 | SignatureDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2015 | TaxYr |
| Build TS | 2017-02-10 21:41:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | Glenn Schroeder | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Rosedale Road MS 20-J | AddressLine1Txt |
| City | Princeton | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08541 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,217,489 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | n/a | WebsiteAddressTxt |
| Type Of Organization Trust | Yes (X) | TypeOfOrganizationTrustInd |
| Formation | 1994 | FormationYr |
| Legal Domicile State | NJ | LegalDomicileStateCd |
| Activity Or Mission | The plan provides medical/life insurance benefits to all retirees and their dependents of ETS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 3 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 0 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $1,168,261 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $1,183,746 | CYProgramServiceRevenueAmt |
| PY Investment Income | $484,603 | PYInvestmentIncomeAmt |
| CY Investment Income | $333,924 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $1,652,864 | PYTotalRevenueAmt |
| CY Total Revenue | $1,517,670 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $4,377,614 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $4,765,270 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $0 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $352,826 | PYOtherExpensesAmt |
| CY Other Expenses | $344,060 | CYOtherExpensesAmt |
| PY Total Expenses | $4,730,440 | PYTotalExpensesAmt |
| CY Total Expenses | $5,109,330 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$3,077,576 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | -$3,591,660 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $14,599,828 | TotalAssetsBOYAmt |
| Total Assets EOY | $10,816,076 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $72,660 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $241,132 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $14,527,168 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $10,574,944 | NetAssetsOrFundBalancesEOYAmt |
| Mission | The plan provides medical, prescription drug and life insurance benefits to all eligible retired employees of Educational Testing Service (ETS) pursuant to the terms of the Educational Testing Service Retiree Medical and Life Insurance Plan. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | The plan provides medical, prescription drug and life insurance benefits to all eligible retired employees of Educational Testing Service (ETS) pursuant to the terms of the Educational Testing Service Retiree Medical and Life Insurance Plan. | Desc |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Temp Or Permanent Endowments | 0 | TempOrPermanentEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | Yes (1) | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With Officer Ent | 0 | BusinessRlnWithOfficerEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 3 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 0 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | 0 | ConflictOfInterestPolicyInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Michael J Freddo Alternate EBAC M | PersonNm |
| Phone | 6099219000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Rosedale Road MS 20-J | AddressLine1Txt |
| City | Princeton | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08541 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Institutional TrusteeInstitutionalTrusteeInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | OfficerOfficerInd |
|---|---|---|---|---|---|---|---|
| Wells Fargo Bank NA | |||||||
| Trustee & Custodian | 1.00 | Yes (X) | $19,560 | $0 | $0 | ||
| Basehore John | |||||||
| EBAC Member | 0.10 | $0 | $366,995 | $49,894 | 40.00 | Yes (X) | |
| Elliott Thomas J | |||||||
| EBAC Member | 0.10 | $0 | $413,846 | $47,793 | 40.00 | Yes (X) | |
| Freddo Michael J | |||||||
| Alternate EBAC Member | 0.10 | $0 | $366,027 | $47,417 | 40.00 | Yes (X) | |
| Schroeder Glenn C | |||||||
| EBAC Member | 0.10 | $0 | $744,082 | $45,693 | 40.00 | Yes (X) | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $19,560 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $1,890,950 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $190,797 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 0 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Aetna Inc | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 151 Farmington Avenue | AddressLine1Txt |
| City | Hartford | CityNm |
| State Abbreviation | CT | StateAbbreviationCd |
| ZIP | 06156 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | Third party administration | ServicesDesc |
| Compensation | $231,558 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Employee contributions | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $1,183,746 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,183,746 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $1,183,746 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $287,398 | TotalRevenueColumnAmt |
| Exclusion | $287,398 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,746,345 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $3,699,819 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $46,526 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $46,526 | TotalRevenueColumnAmt |
| Exclusion | $46,526 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,517,670 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,183,746 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $333,924 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,765,270 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $24,886 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,560 | TotalAmt |
Other Expenses OtherExpensesGrp (2 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Third party administrat | $299,131 |
| Bank Charges | $483 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,109,330 | TotalAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,335 | BOYAmt |
| EOY | $26,340 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $20,671 | BOYAmt |
| EOY | $29,194 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,536,822 | BOYAmt |
| EOY | $10,760,542 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,599,828 | BOYAmt |
| EOY | $10,816,076 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $17,926 | BOYAmt |
| EOY | $6,148 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $54,734 | BOYAmt |
| EOY | $234,984 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,660 | BOYAmt |
| EOY | $241,132 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows SFAS117 | Yes (X) | OrganizationFollowsSFAS117Ind |
Unrestricted Net Assets UnrestrictedNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,527,168 | BOYAmt |
| EOY | $10,574,944 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,527,168 | BOYAmt |
| EOY | $10,574,944 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $14,599,828 | BOYAmt |
| EOY | $10,816,076 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | -$3,591,660 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$360,564 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Payable to Plan Sponsor | Desc |
| Amt | $234,984 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $234,984 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $1,157,106 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | -$360,564 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | -$360,564 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,517,670 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $1,517,670 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $5,109,330 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $5,109,330 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $5,109,330 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part X, Line 2: | FormAndLineReferenceDesc |
| Explanation | The Educational Testing Service Retiree Medical and Life Insurance Benefit Plan (Retiree Trust) is intended to meet the qualification requirements pursuant to Section 501(c)(9) of the Internal Revenue Code (the "Code"), and, accordingly, the net investment income of the Retiree Trust is exempt from income taxes. The Internal Revenue Service ("IRS") has determined in a letter dated October 10, 1995, that the Plan and Retiree Trust are designed in accordance with the applicable sections of the Code. However, as a result of the Plan's funding policy, the Retiree Trust may be subject to income taxes. No federal or state income taxes are required to be recorded for the years ended December 31, 2015 and 2014 for unrelated business taxable income. ETS believes that the Retiree Trust, as amended, continues to be a tax-exempt trust and operates in accordance with applicable provisions of the Code. ETS evaluated the Plan's tax positions and concluded that the Retiree Trust maintained its tax-exempt status and there are no uncertain tax positions that require adjustment to the financial statements. Therefore, no provision or liability for income taxes is required in the financial statements as of December 31, 2015 and 2014. The Plan is subject to routine examinations by taxing jurisdictions; however, there are no examinations for any open tax periods in progress. ETS believes the Plan is not subject to income tax examination by the IRS for years prior to 2012. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (4 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Basehore John | ||||||||||||||
| EBAC Member | $0 | $212,411 | $0 | $111,263 | $0 | $43,321 | $0 | $33,630 | $0 | $16,264 | $0 | $416,889 | $0 | $0 |
| Elliott Thomas J | ||||||||||||||
| EBAC Member | $0 | $220,307 | $0 | $128,750 | $0 | $64,789 | $0 | $23,700 | $0 | $24,093 | $0 | $461,639 | $0 | $0 |
| Freddo Michael J | ||||||||||||||
| Alternate EBAC Member | $0 | $199,111 | $0 | $116,750 | $0 | $50,166 | $0 | $31,781 | $0 | $15,636 | $0 | $413,444 | $0 | $0 |
| Schroeder Glenn C | ||||||||||||||
| EBAC Member | $0 | $339,731 | $0 | $210,300 | $0 | $194,051 | $0 | $23,850 | $0 | $21,843 | $0 | $789,775 | $0 | $88,579 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 4b | FormAndLineReferenceDesc |
| Explanation | The officers participated in the related organization's 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. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Wells Fargo Bank NA | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | Institutional trustee & custodian | RelationshipDescriptionTxt |
| Transaction | $19,560 | TransactionAmt |
| Transaction | Institutional Trustee Fees - $19,560 | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, line 6 | The members are the beneficiaries of the Educational Testing Service Retiree VEBA. |
| Form 990, Part VI, Section B, line 11 | The Form 990 was reviewed in detail by members of the Educational Testing Service Employee Benefits Administration Committee ("EBAC") and our external tax advisors, Grant Thornton, prior to filing. |
| Form 990, Part VI, Section B, line 12 | Although the Educational Testing Service Retiree Medical and Life Insurance Benefit Plan (the ETS Retiree VEBA) has not specifically adopted these policies, the EBAC observes the applicable policies of the plan sponsor, Educational Testing Service. |
| Form 990, Part VI, Section C, line 19 | Currently, the ETS Retiree VEBA does not make its governing documents or financial statements available to the general public. |
| Form 990, Part VII, Section A: | The EBAC is the "administrator" as defined in Section 3(16)(A) of ERISA, of the Educational Testing Service Retiree Medical and Life Insurance Benefit Plan, which is funded through this VEBA, The VEBA does not have officers per se, but per the Form 990 Glossary definition of "officer", the EBAC members in effect serve in such role. |
| Form 990, Part XII, Line 2c: | The oversight and selection process has not changed from the previous tax year. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Educational Testing Service | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | Rosedale Road MS 20-J | AddressLine1Txt |
| City | Princeton | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 08541 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 210634479 | EIN |
| Primary Activities | Educational Testing | PrimaryActivitiesTxt |
| Legal Domicile State | NY | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | Line 9 | PublicCharityStatusTxt |
| Controlled Organization | 0 | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |