The century-old College Entrance Examination Board (College Board) sponsors, develops, and administers standardized testing programs, most famously the "SAT suite of tests," which includes the SAT college admission test and the "pre-SAT," or PSAT, and the more than thirty Advanced- Placement (AP) courses and exams that high-school students take for college credit. Legally, College Board is a nonprofit, charitable organization (a 501(c)(3)) and pays no taxes on revenues derived from activities aligned with its public mission. But College Board activities also affect public policy, even while it remains a private organization governed only by its own board of trustees. Moreover, College Board peripatetically pursues public funds, with much success, which either directly or indirectly support its programs. Which prompts the question: Should taxpayers and foundations subsidize College Board activities (and its revenues)? Should College Board receive subsidies at all? This line of inquiry focuses more on the character of the College Board. Is it a public charity like, for example, the Salvation Army or Habitat for Humanity, which dedicate their efforts to optimizing social good? Or is it more like a private, for-profit corporation, dedicated to maximizing profit and increasing market share? Moreover, if College Board is a monopoly, as some believe, does it use its monopoly position to create greater efficiencies in the public service as does, for example, the Red Cross, or does it leverage what some claim is monopoly power to increase profit and market share?