Graduate Management Admission Council

Nonprofit profile at a glance

EIN
237084339
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Reston, VA, USA
Phone
7036689600
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Educational Services and Schools - Other

Official website

Reported finances

Revenue
$67,401,273
Expenses
$74,216,291
Assets
$189,989,204
Liabilities
$25,711,455

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

27 people listed

Highest reported compensation

  • JOY JONES (CHIEF PRODUCT OFFICER & GENERAL MGR.): $860,188 total reported compensation
  • JENNIFER MARTIN (CFO & CORPORATE SECRETARY): $515,530 total reported compensation
  • ASHISH BHARDWAJ SR VP HEAD (,MARKET DEVELOPMENT (END JUNE 2024)): $472,677 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Earned-program. 90% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 73
  • Accountability: 92
  • Sustainability: 35
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 79.9%; rating input score 80
  • Program expense ratio: 72.3%; rating input score 72
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 1st percentile among comparable filings
  • Pay-setting controls: 5 of 6 controls in place; rating input score 83
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 98.5%; rating input score 99; 36th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 93.8%; rating input score 94; 44th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -10.1%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 2.56; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 78; 78th percentile among comparable filings
  • Officer compensation ratio: 7%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: -2.5% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: -3.1% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 15th percentile among comparable filings

Details

  • Where the money goes: 79.9% of revenue deployed · 72.3% of spending went to programs
  • Governance: 15 of 16 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $53.6M in reported program spending
  • Leadership: top reported pay $860K · 27 people listed · 5 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.6M reported
  • Consistency: 36 of 38 current checks pass · 2 findings to review
  • Schedules: 8 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 17 filed money-flow records
  • Related organizations: 9 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.