Nonprofit · EIN 23-7084339
GRADUATE MANAGEMENT ADMISSION COUNCIL
Tax-exempt · RESTON, VA 20190
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $67,401,273 | $74,216,291 | -$6,815,018 | $189,989,204 | $25,711,455 | $164,277,749 |
| December 31, 2023 | 990 | $63,740,699 | $73,947,044 | -$10,206,345 | $191,084,951 | $26,509,262 | $164,575,689 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $2,022,575
- of which government grants
- $2,022,575
- Program service revenue
- $56,428,726
- Investment income
- $8,713,190
- Net gain from sales of assets
- $4,625,848
- Other revenue
- $236,782
Expenses
- Grants and similar amounts paid
- $466,294
- Compensation of officers, directors and key employees
- $5,158,463
- Other salaries and wages
- $17,229,633
- Salaries, compensation and benefits (total)
- $26,932,749
- Professional fundraising fees
- $0
- Legal fees
- $412,081
- Accounting fees
- $682,520
- Occupancy
- $1,899,609
- Travel
- $1,648,734
- Depreciation
- $4,791,836
- Program services (functional)
- $53,633,592
- Management and general (functional)
- $20,582,699
Balance sheet and other
- Total assets, start of year
- $191,084,951
- Total assets, end of year
- $189,989,204
- Total liabilities, end of year
- $25,711,455
- Net assets, end of year
- $164,277,749
- Land, buildings and equipment
- $2,550,888
- Publicly traded securities
- $149,498,833
- Net assets without donor restrictions
- $164,277,749
- Gross unrelated business income
- $506,600
- Gross receipts
- $105,825,508
- Employees
- 133
- Volunteers
- 15
- Year formed
- 1970
- State of legal domicile
- VA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOY JONES | CHIEF PRODUCT OFFICER & GENERAL MGR. Trustee or director, Officer | 40 | $809,629 | $50,559 |
| JENNIFER MARTIN | CFO & CORPORATE SECRETARY Officer | 40 | $472,267 | $43,263 |
| ASHISH BHARDWAJ SR VP HEAD | ,MARKET DEVELOPMENT (END JUNE 2024) Officer | 40 | $447,771 | $24,906 |
| KEVIN LEFEW | CHIEF TECHNOLOGY OFFICER Officer | 40 | $430,778 | $27,131 |
| SABRINA WHITE | SVP SCHOOL & INDUSTRY ENGAGEMENT Highest-paid employee | 40 | $399,634 | $25,452 |
| ADAM WITWER | CHIEF PRODUCT OFFICER Officer | 40 | $378,380 | $40,998 |
| ASHOK SARATHY | VP, ASSESSMENTS Key employee | 40 | $371,609 | $47,146 |
| SARAH BENNETT | CHIEF MARKETING OFFICER Officer | 40 | $347,430 | $48,012 |
| KYUNGTYEK HAN | SR DIR, PSYCHOMETRICIAN Highest-paid employee | 40 | $270,649 | $39,751 |
| DANIELLE BOLAND | MANAGING DIR, ENTERPRISE PRODUCTS Highest-paid employee | 40 | $261,238 | $38,082 |
| ROBIN EVERETT | VP, LEGAL (END AUG 2024) Highest-paid employee | 40 | $267,345 | $29,468 |
| ANA KYPER | SR DIR, NEW PRODUCT DEVELOPMENT Highest-paid employee | 40 | $248,728 | $38,237 |
| THEMIN SUWARDY | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ISABELLE BAJEUX-BESNAINOU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARTIN BOEHM | DIRECTOR Trustee or director | 1 | $0 | $0 |
12 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| MUKESH BUTANI | DIRECTOR Trustee or director | 1 | $0 |
| ITZIAR DE ROS | DIRECTOR Trustee or director | 1 | $0 |
| BRUCE DELMONICO | DIRECTOR Trustee or director | 1 | $0 |
| YUAN DING | DIRECTOR Trustee or director | 1 | $0 |
| CATHERINE DUGGAN | DIRECTOR Trustee or director | 1 | $0 |
| CURTIS FERGUSON | DIRECTOR Trustee or director | 1 | $0 |
| SANJIV KAPUR | DIRECTOR Trustee or director | 1 | $0 |
| JAY NIBBE | DIRECTOR Trustee or director | 1 | $0 |
| FRANCOIS ORTALO-MAGNE | DIRECTOR Trustee or director | 1 | $0 |
| ANA MARIA ZERMENO PADILLA | DIRECTOR Trustee or director | 1 | $0 |
| GIUSEPPE SODA | DIRECTOR Trustee or director | 1 | $0 |
| ANTHONY WILBON | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 31 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JOY JONES | CHIEF PRODUCT OFFICER & GENERAL MGR. Trustee or director, Officer | 40 | $824,671 | $51,166 |
| SANGEET CHOWFLA | FORMER SR ADVISOR TO BOARD Former | 40 | $748,417 | $5,004 |
| ASHISH BHARDWAJ | SR VP & HEAD, MARKET DEVELOPMENT Officer | 40 | $548,700 | $51,582 |
| JENNIFER MARTIN | CFO & HEAD, CORPORATE DEVELOPMENT Officer | 40 | $523,741 | $44,158 |
| KEVIN LEFEW | CHIEF TECHNOLOGY OFFICER Officer | 40 | $501,071 | $26,725 |
| ASHOK SARATHY | VP, PRODUCT MANAGEMENT OPERATIONS Key employee | 40 | $435,894 | $48,281 |
| ROBIN EVERETT | VP, LEGAL Highest-paid employee | 40 | $424,843 | $49,440 |
| SABRINA WHITE | VP, SCHOOL & INDUSTRY ENGAGEMENT Highest-paid employee | 40 | $442,425 | $25,717 |
| KYUNGTYEK HAN | SR DIR, PSYCHOMETRICIAN Highest-paid employee | 40 | $261,532 | $40,581 |
| ELAINE ALBERS | SR DIR, PRODUCT MANAGEMENT Highest-paid employee | 40 | $259,604 | $24,205 |
| DAVID EELMAN | SR DIR, GLOBAL CONTROLLER Highest-paid employee | 40 | $252,366 | $24,369 |
| MAITE SALAZAR | CHIEF MARKETING OFFICER (TO 4/24/23) Officer | 40 | $242,492 | $15,109 |
| ADAM WITWER | CHIEF PRODUCT OFFICER (FROM 6/19/23) Officer | 40 | $171,741 | $19,056 |
| SARAH BENNETT | CHIEF MARKETING OFC. (FROM 6/15/23) Officer | 40 | $162,341 | $23,864 |
| JON ERICKSON | CHAIR (TO 7/1/23) Trustee or director, Officer | 1 | $0 | $0 |
| THEMIN SUWARDY | DIRECTOR (TO 7/1/23); CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| ISABELLE BAJEUX-BESNAINOU | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MARTIN BOEHM | DIRECTOR Trustee or director | 1 | $0 | $0 |
| MUKESH BUTANI | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ITZIAR DE ROS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BRUCE DELMONICO | DIRECTOR Trustee or director | 1 | $0 | $0 |
| YUAN DING | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CATHERINE DUGGAN | DIRECTOR Trustee or director | 1 | $0 | $0 |
| CURTIS FERGUSON | DIRECTOR (FROM 7/1/23) Trustee or director | 1 | $0 | $0 |
| SANJIV KAPUR | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KATY MONTGOMERY | DIRECTOR (TO 6/30/23) Trustee or director | 1 | $0 | $0 |
| JAY NIBBE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| FRANCOIS ORTALO-MAGNE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANA MARIA ZERMENO PADILLA | DIRECTOR (FROM 7/1/23) Trustee or director | 1 | $0 | $0 |
| GIUSEPPE SODA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ANTHONY WILBON | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 11921 FREEDOM DR STE 300, RESTON, VA 20190-5670
- Principal officer (990 for 2024)
- JOY JONES, 11921 FREEDOM DRIVE 300, RESTON, VA 20190
- Signed the 990
- JOY JONES, CHIEF EXECUTIVE OFFICER
- Phone
- (703) 668-9600
- Website
- WWW.GMAC.COM
- Return prepared by
- GRANT THORNTON ADVISORS LLC
Mission
GMAC IS A GLOBAL NONPROFIT ASSOCIATION OF LEADING BUSINESS SCHOOLS THAT CONNECTS FUTURE BUSINESS LEADERS WITH EDUCATIONAL OPPORTUNITIES. WE PROVIDE THE TOOLS & INFORMATION NECESSARY FOR SCHOOLS & TALENT TO DISCOVER & EVALUATE EACH OTHER.
Program accomplishments
- TEST OPERATIONS: GMAC IS COMMITTED TO PROVIDING TOOLS AND SOLUTIONS TO SCHOOLS AND CANDIDATES TO CONNECT WITH AND EVALUATE EACH OTHER SO THAT TALENT DOES NOT GO UNDISCOVERED. GRADUATE MANAGEMENT EDUCATION (GME) PROGRAMS EVALUATE GLOBAL APPLICANTS FROM DIVERSE EDUCATIONAL AND PROFESSIONAL BACKGROUNDS FOR ADMISSION TO MBA AND BUSINESS MASTER'S DEGREE PROGRAMS. THE GMAT (GRADUATE MANAGEMENT ADMISSION TEST), EA (EXECUTIVE ASSESSMENT), AND NMAT BY GMAC ASSESSMENTS ASSIST SCHOOLS IN EVALUATING CANDIDATE ACADEMIC SUCCESS LIKELIHOOD IN GRADUATE MANAGEMENT PROGRAMS ADMISSIONS. AS SUCH, GMAC'S PORTFOLIO OF PREMIER ASSESSMENTS IS RECOGNIZED AS TRUSTED, VALID PREDICTORS OF ACADEMIC SUCCESS FOR GRADUATE BUSINESS PROGRAMS. GMAC'S ASSESSMENTS ARE ACCEPTED BY MORE THAN 7,000 SCHOOLS GLOBALLY.(SEE SCHEDULE O)THE GMAT EXAM HAS BEEN TRUSTED BY SCHOOLS FOR OVER 60 YEARS AS A PROVEN AND RELIABLE MEASUREMENT IN ADMISSIONS. IN 2015, GMAC ACQUIRED THE NMAT EXAMINATION IN INDIA, RENAMED THE NMAT BY GMAC. IN 2016, GMAC LAUNCHED THE EXECUTIVE ASSESSMENT (EA) FOR EXECUTIVE GRADUATE MANAGEMENT PROGRAMS. MORE INFORMATION CAN BE FOUND AT HTTPS://WWW.GMAC.COM/GMAT-OTHER-ASSESSMENTS/ABOUT-OUR-OTHER-ASSESSMENTS.Expenses $44,162,233 · revenue $45,444,745
- OTHER EDUCATIONAL SERVICES FOR SCHOOLS AND GME CANDIDATES: INCLUDING BUT NOT LIMITED TO, MBA.COM, GMAC.COM, PROFESSIONAL DEVELOPMENT AND EVENTS, AND DISCOVERY AND ENGAGEMENT SOLUTIONS.MBA.COM: GME CANDIDATES ARE PROVIDED A RICH PORTAL VIA WWW.MBA.COM, WHERE THEY CAN LEARN ABOUT THE BENEFITS OF GRADUATE MANAGEMENT EDUCATION AND HOW TO FURTHER THEIR CAREER JOURNEY. ON THE SITE, THERE ARE MYRIAD OPPORTUNITIES TO ASSIST THEM WITH PREPARING FOR THEIR APPLICATIONS, REGISTERING FOR EXAMS, CONNECTING WITH SCHOOLS AND ACCESSING FREE AND PAID TEST PREPARATION MATERIALS. (SEE SCHEDULE O)GMAC.COM: BUSINESS SCHOOL AND HIGHER EDUCATION PROFESSIONALS CAN ACCESS A WEALTH OF INFORMATION VIA GMAC.COM, INCLUDING MARKET INTELLIGENCE, INSIGHTS AND ANALYSIS, WHITE PAPERS, NEWS DIGESTS, NEWSLETTERS, ASSESSMENT RESOURCES, AND TOOLS TO HELP THEM SHARPEN THEIR SKILLS, BE ABREAST OF TRENDS AND TAP INTO INFORMATION AND SERVICES SPECIFICALLY FOR GME PROFESSIONALS.PROFESSIONAL DEVELOPMENT AND EVENTS: GMAC PROVIDES ESSENTIAL PROFESSIONAL LEARNING AND DEVELOPMENT OPPORTUNITIES FOR ADMISSIONS PROFESSIONALS AND OTHER BUSINESS SCHOOL LEADERS, INCLUDING CONVENING GLOBAL EDUCATION CONFERENCES, WORKSHOPS, TRAINING, SEMINARS, SCHOOL EVENTS, WEBINARS AND MORE, BOTH VIRTUAL AND IN-PERSON.DISCOVERY AND ENGAGEMENT SOLUTIONS: GMAC HELPS SCHOOLS REACH THE LARGEST QUALIFIED, GLOBAL CANDIDATE POOL INTERESTED IN PURSUING AN MBA OR BUSINESS MASTER'S DEGREE THROUGH DATA-DRIVEN MARKETING, TOURS AND CONTENT SERVICES.Expenses $8,422,976 · grants $466,294 · revenue $10,477,381
- RESEARCH: GMAC RESEARCH PROVIDES DATA-DRIVEN MARKET INTELLIGENCE AND INSIGHTS FOR THE GRADUATE MANAGEMENT EDUCATION COMMUNITY. AREAS OF FOCUS INCLUDE ANALYSIS OF GRADUATE MANAGEMENT CANDIDATE TEST TAKERS, APPLICATION TRENDS, CORPORATE RECRUITING OUTLOOKS, ALUMNI PERSPECTIVES, AND GLOBAL AND REGIONAL TRENDS IN AREAS OF PROGRAMS, DIVERSITY, TALENT MOBILITY, AND PSYCHOMETRIC VALIDITY. RESEARCH DIRECTLY SUPPORTS AND ENABLES GMAC MEMBER SCHOOLS AND THE GRADUATE MANAGEMENT EDUCATION COMMUNITY WITH INTERACTIVE AND CUSTOM REPORTS AND PROVIDES INSIGHTS THAT ENABLE TWO-WAY DISCOVERY BETWEEN SCHOOLS AND CANDIDATES. MORE INFORMATION CAN BE SEEN AT HTTPS://WWW.GMAC.COM/MARKET-INTELLIGENCE-AND-RESEARCH.Expenses $1,048,383
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 23-7084339
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1999
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B90)
- Assets (IRS master file)
- $189,989,204
- Income (IRS master file)
- $105,825,508
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $67,401,273 | $74,216,291 | $189,989,204 | IRS |
| 990-T | December 2024 | – | – | – | IRS |
| 990 | December 2023 | $63,740,699 | $73,947,044 | $191,084,951 | XML |
| 990-T | December 2023 | – | – | – | IRS |
| 990 | December 2022 | $63,026,606 | $69,629,243 | $191,283,214 | IRS |
| 990-T | December 2022 | – | – | – | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-T | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-T | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 23-7084339).
Questions about GRADUATE MANAGEMENT ADMISSION COUNCIL
- What is the EIN of GRADUATE MANAGEMENT ADMISSION COUNCIL?
- The employer identification number (EIN) of GRADUATE MANAGEMENT ADMISSION COUNCIL is 23-7084339.
- Is GRADUATE MANAGEMENT ADMISSION COUNCIL tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1999.
- Are donations to GRADUATE MANAGEMENT ADMISSION COUNCIL tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GRADUATE MANAGEMENT ADMISSION COUNCIL file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GRADUATE MANAGEMENT ADMISSION COUNCIL due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GRADUATE MANAGEMENT ADMISSION COUNCIL last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GRADUATE MANAGEMENT ADMISSION COUNCIL?
- The 990 for the year ended December 31, 2024 names JOY JONES.
- Who are the officers and directors of GRADUATE MANAGEMENT ADMISSION COUNCIL?
- The 990 for the year ended December 31, 2024 lists 27 people; 12 received compensation from the organization, the highest $809,629 (JOY JONES, CHIEF PRODUCT OFFICER & GENERAL MGR.).
- How much revenue does GRADUATE MANAGEMENT ADMISSION COUNCIL have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $67,401,273, expenses of $74,216,291 and total assets of $189,989,204 at year end.
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