Overview
What is Graduate Management Admission Council?
The Graduate Management Admission Council (GMAC) is a nonprofit organization based in Reston, Virginia, with a workforce of 169 employees. GMAC serves as a bridge connecting graduate management education programs and potential candidates by providing reliable assessments and solutions. These assessments, including the Graduate Management Admission Test (GMAT), Executive Assessment (EA), and NMAT by GMAC, help schools assess applicants' academic success potential for admission to Master's in Business Administration (MBA) and other business degree programs. With over 7,000 schools accepting their assessments globally, GMAC's tools are trusted and valued predictors for graduate business programs. The mission of GMAC is to facilitate mutual discoveries between schools and talented individuals, enabling access to the best business education for all.
Official website here: www.gmac.com
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The Graduate Management Admission Council (GMAC) demonstrates a strong commitment to accountability and finance, as reflected in its impressive score of 96%. This rating is based exclusively on financial metrics, indicating the organization's transparency and sound financial practices. Key elements contributing to this score include a fully independent board, robust auditing processes, and effective policies regarding conflicts of interest and whistleblower protections.
The council's board consists entirely of independent members, which enhances governance and decision-making integrity. GMAC has also shown no material diversion of assets, ensuring that funds are being utilized appropriately for their intended purposes. Additionally, the organization maintains a high program expense ratio, with over 70% of expenditures directed towards programs, underscoring its dedication to fulfilling its mission.
While the data does not indicate any significant weaknesses, potential donors and stakeholders may want to remain informed about ongoing program outcomes and impact. Overall, GMAC's strong financial standing and governance practices position it as a trustworthy nonprofit within the educational sector.
This AI summary has been generated from information found on Charity Navigator.
Is Graduate Management Admission Council legitimate?
Graduate Management Admission Council is a legitimate nonprofit organization registered as a 501(c)(3) entity. Graduate Management Admission Council submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $4,421,905
Professional Fundraising Fees: $0
Other Salaries and Wages: $15,496,728
For more financial information, click here
Official website here: www.gmac.com
What is the mission statement of Graduate Management Admission Council?
The Graduate Management Admission Council (GMAC) is dedicated to facilitating connections between businesses and potential candidates, enabling everyone to access the best business education that suits their individual needs. GMAC's mission is to equip schools and individuals with the necessary resources for mutual discovery and evaluation. GMAC's core values include courage, creativity, listening, collaboration, and integrity, as they build lasting relationships within the education community, both presently and in the future.
Official website here: www.gmac.com
Who is the CEO of Graduate Management Admission Council?
Joy Jones is the Ceo (To 10/22); Sr Advisor To Board of Graduate Management Admission Council. The CEO's salary of Graduate Management Admission Council is $850,321 and their total compensation is $1,286,181.
Official website here: www.gmac.com
What is the revenue of Graduate Management Admission Council?
Graduate Management Admission Council's revenue in 2022 was $63,026,606.
Official website here: www.gmac.com
Who are the executives of Graduate Management Admission Council and what are their salaries?
The average compensation at Graduate Management Admission Council during 2022 was $117,862. There are 169 employees and 15 volunteers at Graduate Management Admission Council.
Here are 35 key members and their salaries (Graduate Management Admission Council's CEO's salary is $850,321 and their total compensation is $1,286,181):
- Compensation: $850,321
- Related: $0
- Other: $435,860
- Compensation: $590,802
- Related: $0
- Other: $40,681
- Compensation: $455,792
- Related: $0
- Other: $40,681
- Compensation: $456,596
- Related: $0
- Other: $30,056
- Compensation: $428,440
- Related: $0
- Other: $38,639
- Compensation: $414,753
- Related: $0
- Other: $20,360
- Compensation: $384,605
- Related: $0
- Other: $39,750
- Compensation: $365,725
- Related: $0
- Other: $43,125
- Compensation: $348,380
- Related: $0
- Other: $43,795
- Compensation: $366,951
- Related: $0
- Other: $23,085
- Compensation: $272,558
- Related: $0
- Other: $35,117
- Compensation: $253,251
- Related: $0
- Other: $35,665
- Compensation: $228,970
- Related: $0
- Other: $34,363
- Compensation: $181,855
- Related: $0
- Other: $2,019
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Official website here: www.gmac.com
Where can I find the form 990 for Graduate Management Admission Council?
Graduate Management Admission Council's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.gmac.com
Learn more at the official website: www.gmac.com
Mission Statement of Graduate Management Admission Council
The Graduate Management Admission Council (GMAC), in its mission, strives to bring about a world where everyone has the opportunity to access and benefit from the most suitable business education for their individual needs. GMAC acts as a bridge, supplying tools and information that enable educational institutions and potential students to connect and assess each other. In line with its core values of courage, creativity, listening, collaboration, and integrity, GMAC builds enduring relationships within the educational community, fostering connections that will last now and in the future.
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Impact
October, 2024
The Graduate Management Admission Council (GMAC) plays a pivotal role in the landscape of graduate management education. By providing standardized assessments such as the GMAT, Executive Assessment, and NMAT by GMAC, the organization serves as a bridge between schools and prospective students. These assessments enable schools to evaluate the academic potential of applicants from diverse educational and professional backgrounds, ensuring that talent is recognized and nurtured.
With over 7,000 schools worldwide accepting GMAC's portfolio of assessments, GMAC's influence is significant in shaping admissions processes across the globe. The GMAT, trusted for over 60 years, along with newer offerings like the Executive Assessment, helps institutions identify candidates who are likely to succeed in their graduate programs. This commitment to connecting schools with aspiring students not only facilitates admissions but also promotes a richer educational environment where diverse perspectives can thrive.
In addition to testing, GMAC embodies values such as courage, creativity, listening, collaboration, and integrity, fostering lasting relationships within the education community. By actively working to enhance both the admissions process and the overall educational experience, GMAC is instrumental in creating a world where individuals can access the best business education suited to their unique paths.
This information is meant to be a general summary of Graduate Management Admission Council. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $9,342,368
- Program Service Revenue: $53,628,781
- Gross Receipts: $104,856,996
Assets and Liabilities:
- Total Assets: $191,283,214
- Total Liabilities: $28,596,380
- Net Assets: $162,686,834
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TEST OPERATIONS
Revenue
$47,601,886
SCHOOL/STUDENT PRODUCT
Revenue
$3,399,062
MEDIA PRODUCTS
Revenue
$1,713,434
PROFESSIONAL DEVELOPME
Revenue
$914,399
Organization Details
Founding Year
1970
Phone
(703) 668-9600Principal Officer
Joy Jones
Main Address
11921 FREEDOM DRIVE 300, RESTON, VA, 20190
Website
www.gmac.comNTEE Category
Code: B90 - Education
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