Educational Testing Service Retiree Medical and Life Insurance Benefit Plan
- Assets
- $3.1m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Princeton, NJ
- Founding
- Data as of
- 12/2017
- EIN
- 22-3372287
Organization Overview
Educational Testing Service Retiree Medical and Life Insurance Benefit Plan is located in Princeton, NJ. Educational Testing Service Retiree Medical and Life Insurance Benefit Plan is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2017, Educational Testing Service Retiree Medical and Life Insurance Benefit Plan generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 13.2% each year . All expenses for the organization totaled $8.3m during the year ending 12/2017. While expenses have increased by 17.4% per year over the past 3 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
THE PLAN PROVIDES MEDICAL/LIFE INSURANCE BENEFITS TO ALL RETIREES AND THEIR DEPENDENTS OF ETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Trustee & Custodian | 1 | $19,720 | |
Basehore John Ebac Member | Officer | 0.1 | $0 |
Johnson-Gregory Sheree L Alternate Ebac Member | Officer | 0.1 | $0 |
Freddo Michael J Ebac Member | Officer | 0.1 | $0 |
Schroeder Glenn C Ebac Member | Officer | 0.1 | $0 |
Elliott Thomas J Former Ebac Member | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Aetna Inc Third Party Administration | 12/30/17 | $242,958 |
Express Scripts Third Party Administration | 12/30/17 | $122,421 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,383,178 |
| Investment income | $137,329 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $683,636 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,204,143 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $7,839,401 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $26,890 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,720 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $8,275,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $29,953 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $113,035 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,930,870 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,073,858 |
| Accounts payable and accrued expenses | $1,144,755 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $416,577 |
| Total liabilities | $1,561,332 |
| Unrestricted restricted net Assets | $1,512,526 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $1,512,526 |