How Much Money Does the College Board Actually Get? (And Why It Makes You Want to Scream)
Okay, let’s talk about The College Board. You know, that “not-for-profit” organization that seems to have a serious case of the “money-grubbing blues.”
The short answer is: A LOT.
The College Board rakes in over a billion dollars in revenue annually. They’re making a killing off the SATs, AP exams, and PSATs, leaving students and their families feeling like they’re being squeezed dry.
But, wait, you say, isn’t the College Board a non-profit? Well, yes and no. They’re a non-profit in the sense that they don’t distribute profits to shareholders. But let’s be real, they’re making a heap of cash, and they’re not exactly shy about it.
Financial Shenanigans: A Tale of Two Numbers
Here’s the thing that makes my inner cynic sing: while the College Board claims to be a non-profit, their finances tell a different story.
- Revenue: In 2019, the College Board brought in a cool $1.1 billion in revenue.
- Profit: They also made a profit of $58 million in 2019.
Now, this might not seem like a huge profit margin when you compare it to some big corporations, but remember, this is a “not-for-profit” organization. They’re supposed to be dedicated to helping students, not lining their pockets.
The CEO’s Salary: A Reality Check
And don’t even get me started on the CEO’s salary. In 2020, the CEO of the College Board, David Coleman, earned a whopping $2.56 million. Yes, you read that right. Two and a half million dollars for running an organization that claims to be dedicated to helping students.
Where Does All That Money Go?
The College Board likes to talk about how they use their money to “expand opportunities for students.” But when you look at their financial statements, it’s hard to see where that money is actually going.
Sure, they invest some of it, but they’re also spending a lot of it on things like assets and CEO salaries.
And remember, The College Board holds over $1.66 billion in assets. That’s a lot of money that could be used to actually help students, but it seems they’re choosing to hoard it instead.
The College Board: A Monopoly with a “Not-for-Profit” Disguise
Here’s the thing: The College Board has a monopoly on the SAT, AP exams, and PSATs. There’s no real competition for them, so they can pretty much charge whatever they want.
They’re essentially holding students hostage, forcing them to shell out hundreds of dollars for exams they need to get into college.
The College Board: A Big Fat Bully
And the worst part? They keep raising prices and adding fees.
- An AP exam now costs $95.
- If you register late, there’s a $40 late fee.
- Cancel an exam? Another $40.
- Want to send your exam scores to college? That’s $15 per college.
It’s like they’re saying, “We’re the College Board, and we can do whatever we want.”
A Little Bit of History
The College Board was founded over 120 years ago, with a mission to “expand opportunities for students.” But somewhere along the way, they seem to have forgotten that mission. They’ve become more focused on profits than on helping students.
The College Board: A Missed Opportunity
The College Board has the potential to be a powerful force for good in education. They could use their resources to make college more accessible to all students, regardless of their background or financial situation.
But instead, they’re using their resources to line their pockets and pad their CEO’s salary.
A Call to Action
It’s time for the College Board to stop taking advantage of students. They need to focus on their mission and start using their money to help students, not themselves.
We need to hold them accountable for their actions and demand that they make college more affordable and accessible for all.
Need More Help?
If you’re looking for more information about the College Board’s finances or how to navigate the college application process, connect with us at JobLoving! We’re here to help you find the resources you need to succeed.
Remember: Don’t be afraid to fight back against the system. Your education is worth fighting for!