<p>^ just for your information, guys, the college board is a not-for-profit organization</p>
<p>but they still charge too much =)</p>
<p>I'm confused, where do all the fees they collect go?</p>
<p>They have to pay the AP graders, for one thing. they also have to pay ETS to develop the tests, i think</p>
<p>Yes, but they are still evil.</p>
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Yes, but they are still evil.
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<p>Agreed, I bet there's embezzlement going on somewhere..</p>
<p>A lot of non-profits have a profit making business model.</p>
<p>I think the Associated Press (the news agency) operates as a not-for-profit cooperative!</p>
<p>"Non-profit" just means that the company doesn't pay dividends to shareholders or sell shares of its stock.</p>
<p>A "non-profit" can still make a "profit" in the sense that revenues may exceed expenses by a hefty margin, but they don't call that excess a "profit," they call it a "surplus."</p>
<p>Although they aren't allowed to pay that surplus out as dividends to investors, they still have a lot of freedom and discretion as to what to do with that surplus. </p>
<p>A nonprofit can still spend very lavishly, as in throwing expensive parties for employees and officials of the member colleges. </p>
<p>A nonprofit can also pay very high salaries to employees, and give them perks like chauffeurs, fancy houses, etc. (Most, but not all, colleges and universities are "nonprofits," but some of their employees are very highly paid.) </p>
<p>Ted O'Neill, the head of admissions at Chicago and a former member of two College Board committees, has repeatedly expressed disgust with the excessive and lavish spending habits of the College Board:</p>
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Over time, however, [O'Neill] came to believe that the association had succumbed to "capitalist, free-market fever." He recalls a College Board event at the World Trade Center at which Mr. Caperton announced that the group had built a surplus of $100-million. After a night of champagne and dancing high above New York, Mr. O'Neill could not help thinking that the College Board had become detached from its original mission.
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<p>The Chronicle also states that Mr. Caperton's salary as CEO of the College Board is $600,000 per year and that the College Board has near 20 vice presidents earning over $200,000 a year each. Most work in a very nice building in NYC (where rent isn't exactly cheap.) </p>
<p>The Chronicle goes on to state that there are a total of 1,100 fulltime employees at the College Board--and the employees "get generous tuition reimbursements for each child they send to college." </p>
<p>(And, of course, that doesn't even count the many employees of ETS and other contractors that College Board hires to do most of the actual work of creating and grading the tests.)</p>
<p>According to the 2004 tax return, compensation for the 5 highest paid CB employees exceeded $1.3 million, which includes $347k for the CB Executive Director.</p>
<p>I think I am going to toss my breakfast over this one....jeez!</p>
<p>OP: you know you accidently hit the "non-" key on the keyboard when typing the thread title right? Understandable mistake, that key is right next to the other ones.</p>
<p>huh? mathwiz i don't follow</p>
<p>i typed non-profit on the keyboard...</p>
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huh? mathwiz i don't follow</p>
<p>i typed non-profit on the keyboard...
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<p>He means you're wrong.</p>
<p>oh haha
you know, being clear isn't a crime :)</p>
<p>and ok, now i understand: they're only techically non-profit</p>
<p>When you throw expensive parties on top of the WTC like that.... well, let me just say I wish they held the party on 9/11.</p>