Civic Intelligence

The Tuition Exchange Inc

990 • Fiscal year 2019 • EIN 04-2227075

Jul 01, 2018 to Jun 30, 2019 • Filed on Dec 04, 2019

Organization ProfileWWW.TUITIONEXCHANGE.ORG

View Organization Page

3 Bethesda Metro Center No 700Bethesda, MD 20814

(301) 941-1827

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.12x

Higher debt load relative to assets than 56% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

66th percentile

0.20x

Higher debt load relative to revenue than 66% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

60th percentile

7.3%

Higher net margin than 60% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

87th percentile

$171,666

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 23.7% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

49th percentile

2.8%

Faster asset growth than 49% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

50th percentile

4.2%

Faster revenue growth than 50% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets56th percentile

Assets

Up

$1,213,323

Up $32,779 (+2.8%) from 2018

Net Assets

Up

$1,066,507

Up $59,757 (+5.9%) from 2018

Liabilities

Down

$146,816

Down $26,978 (-16%) from 2018

Revenue And Expenses
Liabilities / Revenue66th percentileNet Margin60th percentile

Revenue

Up

$725,195

Up $29,225 (+4.2%) from 2018

Expenses

Up

$672,605

Up $26,485 (+4.1%) from 2018

Net Income

Up

$52,590

Up $2,740 (+5.5%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth49th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $837,408Liabilities 2011: $151,279Net Assets 2011: $686,1292011Assets 2012: $786,929Liabilities 2012: $118,297Net Assets 2012: $668,6322012Assets 2013: $842,365Liabilities 2013: $87,497Net Assets 2013: $754,8682013Assets 2014: $936,054Liabilities 2014: $97,784Net Assets 2014: $838,2702014Assets 2015: $962,084Liabilities 2015: $90,188Net Assets 2015: $871,8962015Assets 2016: $951,688Liabilities 2016: $99,714Net Assets 2016: $851,9742016Assets 2017: $1,059,743Liabilities 2017: $131,454Net Assets 2017: $928,2892017Assets 2018: $1,180,544Liabilities 2018: $173,794Net Assets 2018: $1,006,7502018Assets 2019: $1,213,323Liabilities 2019: $146,816Net Assets 2019: $1,066,5072019Assets 2020: $1,354,132Liabilities 2020: $199,351Net Assets 2020: $1,154,7812020Assets 2021: $1,682,595Liabilities 2021: $249,660Net Assets 2021: $1,432,9352021Assets 2022: $1,514,822Liabilities 2022: $271,459Net Assets 2022: $1,243,3632022Assets 2023: $1,649,013Liabilities 2023: $234,543Net Assets 2023: $1,414,4702023Assets 2024: $1,848,164Liabilities 2024: $378,860Net Assets 2024: $1,469,3042024Assets 2025: $1,550,184Liabilities 2025: $160,385Net Assets 2025: $1,389,7992025

Highlighted filing

2019

Assets$1,213,323
Liabilities$146,816
Net Assets$1,066,507
Open 2019 Filing

Operations Trend

Revenue Growth50th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2011: $452,7972011Expenses 2012: $468,1162012Revenue 2013: $545,713Expenses 2013: $522,762Net Income 2013: $22,9512013Revenue 2014: $559,425Expenses 2014: $539,583Net Income 2014: $19,8422014Revenue 2015: $572,825Expenses 2015: $525,802Net Income 2015: $47,0232015Revenue 2016: $587,415Expenses 2016: $574,820Net Income 2016: $12,5952016Revenue 2017: $609,238Expenses 2017: $593,389Net Income 2017: $15,8492017Revenue 2018: $695,970Expenses 2018: $646,120Net Income 2018: $49,8502018Revenue 2019: $725,195Expenses 2019: $672,605Net Income 2019: $52,5902019Revenue 2020: $719,565Expenses 2020: $637,200Net Income 2020: $82,3652020Revenue 2021: $763,072Expenses 2021: $658,364Net Income 2021: $104,7082021Revenue 2022: $746,030Expenses 2022: $683,680Net Income 2022: $62,3502022Revenue 2023: $782,739Expenses 2023: $718,656Net Income 2023: $64,0832023Revenue 2024: $888,813Expenses 2024: $885,527Net Income 2024: $3,2862024Revenue 2025: $875,089Expenses 2025: $1,039,243Net Income 2025: -$164,1542025

Highlighted filing

2019

Revenue$725,195
Expenses$672,605
Net Income$52,590
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Dec 4, 2019
Return Version
2018v3.1
Gross Receipts
$725,195
Mission and Program Overview

Mission

To ensure that all segments of the population have access to more post- secondary education through the tuition exchange scholarship program.

SEE PART III, LINE 1.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$917,262$998,789▲ $81,527
Savings and Temporary Cash Investments$150,676$157,345▲ $6,669
Cash and Non-Interest-Bearing Accounts$59,494$28,124▼ $31,370
Land, Buildings, and Equipment, Net$34,167$15,870▼ $18,297
Prepaid Expenses and Deferred Charges$17,960$13,195▼ $4,765
Accounts Receivable$985--
Total Assets$1,180,544$1,213,323▲ $32,779
Liabilities
Grants Payable$112,500$117,500▲ $5,000
Deferred Revenue$26,760$14,960▼ $11,800
Accounts Payable and Accrued Expenses$34,534$14,356▼ $20,178
Total Liabilities$173,794$146,816▼ $26,978
Net Assets / Fund Balance
Unrestricted Net Assets$1,006,750$1,066,507▲ $59,757
Total Net Assets Fund Balance$1,006,750$1,066,507▲ $59,757
Total Liabilities and Net Assets / Fund Balance$1,180,544$1,213,323▲ $32,779

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$10,490$100,730$111,220
Equipment$5,380$10,933$16,313
Compensation and Service Providers
Top Officer Pay87th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Robert D ShorbExecutive Director & SecretaryFT$149,275$22,391$171,666

Board Members and Trustees

NameTitle
Lynn M BynumChairperson
Anthony S CaprioDirector
Barbara B FritzeDirector
Edwin J ButterfossDirector
James M MulanaphyDirector
John a PalmucciDirector
Maureen a MckinnonDirector
Melissa J StoneDirector
Michael H ScottDirector
Lucie LapovskyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$684,610
Investment Income
$40,585
Other Revenue
$0
Change in Net Assets
$52,590

Audited Revenue Reconciliation

Revenue per Audited Statements
$715,701
Revenue Not Reported on Financial Statements
$9,494
Revenue Not Reported on Form 990
$7,167
Total Revenue per Audited Statements
$722,868
Total Revenue per Form 990
$725,195
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$432,113
Other Expenses$194,242
Grants and Similar Amounts Paid$46,250
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$87,700$89,300-$177,000
Current Officers, Directors, Trustees, and Key Employees$69,816$104,725-$174,541
Conferences and Meetings$10,567$49,009-$59,576
Grants to Domestic Individuals$46,250--$46,250
Information Technology$27,891$9,297-$37,188
Other Employee Benefits$12,945$17,161-$30,106
Pension Plan Contributions$12,100$14,450-$26,550
Payroll Taxes$10,284$13,632-$23,916
Depreciation Depletion$9,657$11,803-$21,460
Travel$6,270$9,405-$15,675
Fees for Services Accounting-$13,950-$13,950
Fees for Service Investment Mgmnt Fees-$9,494-$9,494
Office Expenses$3,471$4,821-$8,292
Occupancy-$7,532-$7,532
Advertising$4,391$1,464-$5,855
Insurance-$5,804-$5,804
Other Expenses$1,807$1,807-$3,614
Total Functional Expenses$308,371$364,234$0$672,605

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$672,605
Expenses per Audited Statements$663,111
Total Expenses per Audited Statements$663,111
Expenses Not Reported on Financial Statements$9,494
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The draft form 990 was prepared by the outside accountants and reviewed by the entire board of directors prior to filing.”

Form 990, Part VI, Section B, Line 12C

“Each director and employee annually signs a conflict of interest statement which affirms that such person has: received a copy of the conflict of interest policy; has read and understands the policy; and has agreed to comply with the policy. In the event that a board member has a conflict of interest, s/he discloses the conflict and does not participate in any related deliberations or decisions.”

Form 990, Part VI, Section B, Line 15A

“Compensation for the executive director is determined by the board of directors. The executive director's pay scale is compared to similar positions in the dc area. The last compensation review was june 2019.”

Form 990, Part VI, Section C, Line 19

“The tuition exchange makes it governing documents, conflict of interest policy, and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Tuition Exchange Inc
EIN
04-2227075
Phone
3019411827
Address
3 BETHESDA METRO CENTER NO 700, BETHESDA, MD 20814

Signing Officer

Name
Robert D Shorb
Title
Executive Director
Phone
3019411827
Signed
2019-12-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert D Shorb
Formed
1954
Legal Domicile
Md
Voting Board Members
10
Independent Board Members
10
Employees
3
Volunteers
10

Preparer

Firm
Gelman Rosenberg & Freedman
Address
4550 MONTGOMERY AVE SUITE 800N, BETHESDA, MD 20814-2930
Preparer
Richard J Locastro CPA
Phone
3019519090
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“For the year ended june 30, 2019, the exchange has documented its consideration of fasb asc 740-10, income taxes, that provides guidance for reporting uncertainty in income taxes, and has determined that no material uncertain tax positions qualify for either recognition or disclosure in the financial statements.”

Raw XML AppendixShowing 400 of 511 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd01
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt034534
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt014356
IRS990/AccountsReceivableGrp/BOYAmt0985
IRS990/AcctCompileOrReviewBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0SEE PART III, LINE 1.
IRS990/AdvertisingGrp/ManagementAndGeneralAmt01464
IRS990/AdvertisingGrp/ProgramServicesAmt04391
IRS990/AdvertisingGrp/TotalAmt05855
IRS990/AnnualDisclosureCoveredPrsnInd01
IRS990/AuditCommitteeInd01
IRS990/BackupWthldComplianceInd01
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0KRISTINE M LEV
IRS990/BooksInCareOfDetail/PhoneNum03019411827
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt03 BETHESDA METRO CENTER NO 700
IRS990/BooksInCareOfDetail/USAddress/CityNm0BETHESDA
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MD
IRS990/BooksInCareOfDetail/USAddress/ZIPCd020814
IRS990/BusinessRlnWithFamMemInd00
IRS990/BusinessRlnWithOfficerEntInd00
IRS990/BusinessRlnWithOrgMemInd00
IRS990/CashNonInterestBearingGrp/BOYAmt059494
IRS990/CashNonInterestBearingGrp/EOYAmt028124
IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompCurrentOfcrDirectorsGrp/ManagementAndGeneralAmt0104725
IRS990/CompCurrentOfcrDirectorsGrp/ProgramServicesAmt069816
IRS990/CompCurrentOfcrDirectorsGrp/TotalAmt0174541
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd01
IRS990/CompensationProcessOtherInd00
IRS990/ConferencesMeetingsGrp/ManagementAndGeneralAmt049009
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt010567
IRS990/ConferencesMeetingsGrp/TotalAmt059576
IRS990/ConflictOfInterestPolicyInd01
IRS990/ConservationEasementsInd00
IRS990/ConsolidatedAuditFinclStmtInd00
IRS990/CreditCounselingInd00
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt00
IRS990/CYGrantsAndSimilarPaidAmt046250
IRS990/CYInvestmentIncomeAmt040585
IRS990/CYOtherExpensesAmt0194242
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt0684610
IRS990/CYRevenuesLessExpensesAmt052590
IRS990/CYSalariesCompEmpBnftPaidAmt0432113
IRS990/CYTotalExpensesAmt0672605
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt0725195
IRS990/DecisionsSubjectToApprovaInd00
IRS990/DeductibleArtContributionInd00
IRS990/DeductibleNonCashContriInd00
IRS990/DeferredRevenueGrp/BOYAmt026760
IRS990/DeferredRevenueGrp/EOYAmt014960
IRS990/DelegationOfMgmtDutiesInd00
IRS990/DepreciationDepletionGrp/ManagementAndGeneralAmt011803
IRS990/DepreciationDepletionGrp/ProgramServicesAmt09657
IRS990/DepreciationDepletionGrp/TotalAmt021460
IRS990/Desc0FULL MEMBERSHIP SERVICES INCLUDE PROVIDING PRINT MARKETING MATERIALS, STAFF DEVELOPMENT TRAINING, DATA REPORTING, COMPREHENSIVE WEBSITE RESOURCES, ON-LINE APPLICATION PROCESS, EMAIL/CALL CENTER/IN PERSON ASSISTANCE FROM STAFF IN DAILY ON-CAMPUS ADMINISTRATION OF THE TUITION EXCHANGE PROGRAM, AND YEAR-ROUND RECRUITMENT OF NEW MEMBER INSTITUTIONS.
IRS990/DescribedInSection501c3Ind01
IRS990/DisregardedEntityInd00
IRS990/DocumentRetentionPolicyInd01
IRS990/DonorAdvisedFundInd00
IRS990/ElectionOfBoardMembersInd00
IRS990/EmployeeCnt03
IRS990/EmploymentTaxReturnsFiledInd01
IRS990/EngagedInExcessBenefitTransInd00
IRS990/ExpenseAmt0262121
IRS990/FamilyOrBusinessRlnInd00
IRS990/FederalGrantAuditRequiredInd00
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt013950
IRS990/FeesForServicesAccountingGrp/TotalAmt013950
IRS990/FeesForSrvcInvstMgmntFeesGrp/ManagementAndGeneralAmt09494
IRS990/FeesForSrvcInvstMgmntFeesGrp/TotalAmt09494
IRS990/ForeignActivitiesInd00
IRS990/ForeignFinancialAccountInd00
IRS990/ForeignOfficeInd00
IRS990/Form8282PropertyDisposedOfInd00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt02.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt12.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt22.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt32.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt42.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt52.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt62.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt72.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt82.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt92.00
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1037.50
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd5X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd6X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd7X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd8X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd9X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt70
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt80
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt90
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1022391
IRS990/Form990PartVIISectionAGrp/PersonNm0LYNN M BYNUM
IRS990/Form990PartVIISectionAGrp/PersonNm1LUCIE LAPOVSKY
IRS990/Form990PartVIISectionAGrp/PersonNm2EDWIN J BUTTERFOSS
IRS990/Form990PartVIISectionAGrp/PersonNm3ANTHONY S CAPRIO
IRS990/Form990PartVIISectionAGrp/PersonNm4BARBARA B FRITZE
IRS990/Form990PartVIISectionAGrp/PersonNm5MAUREEN A MCKINNON
IRS990/Form990PartVIISectionAGrp/PersonNm6JAMES M MULANAPHY
IRS990/Form990PartVIISectionAGrp/PersonNm7JOHN A PALMUCCI
IRS990/Form990PartVIISectionAGrp/PersonNm8MICHAEL H SCOTT
IRS990/Form990PartVIISectionAGrp/PersonNm9MELISSA J STONE
IRS990/Form990PartVIISectionAGrp/PersonNm10ROBERT D SHORB
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10149275
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt1TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10EXECUTIVE DIRECTOR & SECRETARY
IRS990/Form990ProvidedToGvrnBodyInd01
IRS990/FormationYr01954
IRS990/FormerOfcrEmployeesListedInd00
IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
IRS990/GamingActivitiesInd00
IRS990/GoverningBodyVotingMembersCnt010
IRS990/GrantsPayableGrp/BOYAmt0112500
IRS990/GrantsPayableGrp/EOYAmt0117500
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt046250
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt046250
IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt0725195
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt010
IRS990/IndivRcvdGreaterThan100KCnt01
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt09297
IRS990/InformationTechnologyGrp/ProgramServicesAmt027891
IRS990/InformationTechnologyGrp/TotalAmt037188
IRS990/InsuranceGrp/ManagementAndGeneralAmt05804
IRS990/InsuranceGrp/TotalAmt05804
IRS990/InvestmentIncomeGrp/ExclusionAmt040585
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt040585
IRS990/InvestmentInJointVentureInd00
IRS990/InvestmentsPubTradedSecGrp/BOYAmt0917262
IRS990/InvestmentsPubTradedSecGrp/EOYAmt0998789
IRS990/IRPDocumentCnt01
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0111663
IRS990/LandBldgEquipBasisNetGrp/BOYAmt034167
IRS990/LandBldgEquipBasisNetGrp/EOYAmt015870
IRS990/LandBldgEquipCostOrOtherBssAmt0127533
IRS990/LegalDomicileStateCd0MD
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0TO ENSURE THAT ALL SEGMENTS OF THE POPULATION HAVE ACCESS TO MORE POST-SECONDARY EDUCATION THROUGH EXPANSION OF THE TUITION EXCHANGE SCHOLARSHIP PROGRAM.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt01006750
IRS990/NetAssetsOrFundBalancesEOYAmt01066507
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt07167
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ManagementAndGeneralAmt07532
IRS990/OccupancyGrp/TotalAmt07532
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt04821
IRS990/OfficeExpensesGrp/ProgramServicesAmt03471
IRS990/OfficeExpensesGrp/TotalAmt08292
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt017161
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012945
IRS990/OtherEmployeeBenefitsGrp/TotalAmt030106
IRS990/OtherExpensesGrp/Desc0MEMBER TRAINING
IRS990/OtherExpensesGrp/Desc1DUES AND SUBSCRIPTIONS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0580
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt11807
IRS990/OtherExpensesGrp/ProgramServicesAmt05222
IRS990/OtherExpensesGrp/ProgramServicesAmt11807
IRS990/OtherExpensesGrp/TotalAmt05802
IRS990/OtherExpensesGrp/TotalAmt13614
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt089300
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt087700
IRS990/OtherSalariesAndWagesGrp/TotalAmt0177000
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt013632
IRS990/PayrollTaxesGrp/ProgramServicesAmt010284
IRS990/PayrollTaxesGrp/TotalAmt023916
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt014450
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt012100
IRS990/PensionPlanContributionsGrp/TotalAmt026550
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt017960
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt013195
IRS990/PrincipalOfficerNm0ROBERT D SHORB
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2900099
IRS990/ProgramServiceRevenueGrp/BusinessCd3900099
IRS990/ProgramServiceRevenueGrp/BusinessCd4900099
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc1PARTICIPATION FEES
IRS990/ProgramServiceRevenueGrp/Desc2ADMINISTRATIVE FEES
IRS990/ProgramServiceRevenueGrp/Desc3INITIATION FEES
IRS990/ProgramServiceRevenueGrp/Desc4LATE FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0366850
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1300020
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt211370
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt36300
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt470
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0366850
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1300020
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt211370
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt36300
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt470
IRS990/ProgSrvcAccomActy2Grp/Desc0THESE GRANTS ARE A SUPPLEMENT TO TUITION EXCHANGE SCHOLARSHIPS FOR THOSE HIGH ACHIEVING STUDENTS WHO NEED MORE FINANCIAL HELP IN PAYING NON-TUITION COLLEGE EXPENSES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt046250
IRS990/ProgSrvcAccomActy2Grp/GrantAmt046250
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt047328
IRS990/PYInvestmentIncomeAmt026454
IRS990/PYOtherExpensesAmt0184348
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0669516
IRS990/PYRevenuesLessExpensesAmt049850
IRS990/PYSalariesCompEmpBnftPaidAmt0414444
IRS990/PYTotalExpensesAmt0646120
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0695970
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt052590
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0684610
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0150676
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0157345
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt040585
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt026454
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt019557
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt019315
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt019076
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0124987
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0684610
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0669516
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0579880
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0558515
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0553535
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt03046056
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt040585
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt026454
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt019557
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt019315
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt019076
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0124987
IRS990ScheduleA/InvestmentIncomeCYPct00.03930
IRS990ScheduleA/InvestmentIncomePYPct00.03420
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0700
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt09585
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt0210
IRS990ScheduleA/OtherIncome509Grp/TotalAmt010495
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.95690
IRS990ScheduleA/PublicSupportPY509Pct00.96190
IRS990ScheduleA/PublicSupportTotal509Amt03044408
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt0618
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt01030
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt01648
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt0618
IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt01030
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt01648
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0684610
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0669516
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0579880
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0558515
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0553535
IRS990ScheduleA/Total509Grp/TotalAmt03046056
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0725195
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0695970
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0600137
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0587415
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0572821
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt03181538
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt05380
IRS990ScheduleD/EquipmentGrp/DepreciationAmt010933
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt016313
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt09494
IRS990ScheduleD/ExpensesSubtotalAmt0663111
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt09494
IRS990ScheduleD/InvestmentExpensesNotIncldAmt09494
IRS990ScheduleD/NetUnrealizedGainsInvstAmt07167
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt010490
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0100730
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0111220
IRS990ScheduleD/RevenueNotReportedAmt07167
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt09494
IRS990ScheduleD/RevenueSubtotalAmt0715701
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0FOR THE YEAR ENDED JUNE 30, 2019, THE EXCHANGE HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES, AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015870
IRS990ScheduleD/TotalExpensesPerForm990Amt0672605
IRS990ScheduleD/TotalRevenuePerForm990Amt0725195
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0722868
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0663111
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt046250
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0TUITION EXCHANGE GRANT OPPORTUNITY
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt019
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE TUITION EXCHANGE DOUBLE CHECKS THE FINAL ELIGIBILITY REQUIREMENTS (ACTUAL FAMILY CONTRIBUTION FROM FAFSA) WITH THE STUDENTS. SCHOLARSHIP PAYMENTS ARE SENT TO THE FINANCIAL AID OFFICES AT THE COLLEGE THE STUDENT ATTENDS WITH INSTRUCTIONS TO CONFIRM THE STUDENT'S ENROLLMENT. SCHOLARSHIP PAYMENTS CAN BE USED FOR NON-TUITION EXPENSES. A TUITION EXCHANGE LIAISON OFFICER AT THE STUDENT'S HOME INSTITUTION ALSO CONFIRMS STUDENT ENROLLMENT AT AN ELIGIBLE INSTITUTION VIA THE TUITION EXCHANGE ANNUAL REPORT.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationCommitteeInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0149275
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt022391

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,213,323
Liabilities
$146,816
Net assets
$1,066,507
Revenue
$725,195
Expenses
$672,605
Net income
$52,590
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.55$0.16$1.39$0.88$1.04$0.16
2024Detailed filing. Detailed filing data is available for this year.$1.85$0.38$1.47$0.89$0.89$0.00
2023Detailed filing. Detailed filing data is available for this year.$1.65$0.23$1.41$0.78$0.72$0.06
2022Detailed filing. Detailed filing data is available for this year.$1.51$0.27$1.24$0.75$0.68$0.06
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.68$0.25$1.43$0.76$0.66$0.10
2020Detailed filing. Detailed filing data is available for this year.$1.35$0.20$1.15$0.72$0.64$0.08
2019Detailed filing. Detailed filing data is available for this year.$1.21$0.15$1.07$0.73$0.67$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.18$0.17$1.01$0.70$0.65$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.06$0.13$0.93$0.61$0.59$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.95$0.10$0.85$0.59$0.57$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.96$0.09$0.87$0.57$0.53$0.05
2014Detailed filing. Detailed filing data is available for this year.$0.94$0.10$0.84$0.56$0.54$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.09$0.75$0.55$0.52$0.02
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.12$0.67$0.47
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.84$0.15$0.69$0.45