Program of Academic Exchange Inc

“A copy of this return will be reviewed by management.”

“Board of directors and management must disclose activities that may present a conflict of interest on an annual basis.”

“Compensation for the president and top level management is determined by comparative study by region and industry and is reviewed and approved by the compensation committee of the board. Compensation of other management of key employees are determined by regional comparative analysis and by industry and is reviewed by senior management.”

“Documents are available upon request and may be viewed throught the irs website or quidestar.org”

“Miscellaneous: program service expenses 192,896. Management and general expenses 65,199. Fundraising expenses 0. Total expenses 258,095. Program fees: program service expenses 134,253. Management and general expenses 0. Fundraising expenses 0. Total expenses 134,253. Postage and delivery: program service expenses 70,246. Management and general expenses 3,047. Fundraising expenses 0. Total expenses 73,293. Equipment rental & maintenance: program service expenses 61,398. Management and general expenses 4,743. Fundraising expenses 0. Total expenses 66,141. Host family incidental expenses: program service expenses 62,254. Management and general expenses 0. Fundraising expenses 0. Total expenses 62,254. Printing & publications: program service expenses 61,376. Management and general expenses 0. Fundraising expenses 0. Total expenses 61,376. Telephone: program service expenses 47,207. Management and general expenses 2,136. Fundraising expenses 0. Total expenses 49,343. Compliance: program service expenses 14,638. Management and general expenses 0. Fundraising expenses 0. Total expenses 14,638.”

“The process has not changed from the prior year.”