Liabilities / Assets
62nd percentile
Higher debt load relative to assets than 62% of similar nonprofits.
The Tuition Exchange Inc
990 • Fiscal year 2021 • EIN 04-2227075
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.15x
Liabilities / Revenue
73rd percentile
Higher debt load relative to revenue than 73% of similar nonprofits.
Net Margin
52nd percentile
Higher net margin than 52% of similar nonprofits.
Top Officer Pay
89th percentile
Higher top officer pay than 89% of similar nonprofits.
Top officer pay equals 23.7% of source-year revenue.
Asset Growth
73rd percentile
Faster asset growth than 73% of similar nonprofits.
Revenue Growth
42nd percentile
Faster revenue growth than 42% of similar nonprofits.
Balance Sheet
Assets
Up$1,682,595
Up $328,463 (+24%) from 2020
Net Assets
Up$1,432,935
Up $278,154 (+24%) from 2020
Liabilities
Up$249,660
Up $50,309 (+25%) from 2020
Revenue And Expenses
Revenue
Up$763,072
Up $43,507 (+6.0%) from 2020
Expenses
Up$658,364
Up $21,164 (+3.3%) from 2020
Net Income
Up$104,708
Up $22,343 (+27%) from 2020
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jul 1, 2020 to Jun 30, 2021
- Signed
- Jan 4, 2022
- Return Version
- 2020v4.0
- Gross Receipts
- $951,205
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.
To ensure that all segments of the population have access to more post- secondary education through expansion of the tuition exchange scholarship program.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Investments in Publicly Traded Securities | $1,033,615 | $1,254,976 | ▲ $221,361 |
| Cash and Non-Interest-Bearing Accounts | $22,259 | $321,279 | ▲ $299,020 |
| Savings and Temporary Cash Investments | $275,530 | $96,460 | ▼ $179,070 |
| Land, Buildings, and Equipment, Net | $9,716 | $5,010 | ▼ $4,706 |
| Prepaid Expenses and Deferred Charges | $13,012 | $4,710 | ▼ $8,302 |
| Accounts Receivable | - | $160 | - |
| Total Assets | $1,354,132 | $1,682,595 | ▲ $328,463 |
| Liabilities | |||
| Grants Payable | $110,000 | $165,000 | ▲ $55,000 |
| Deferred Revenue | $78,000 | $71,500 | ▼ $6,500 |
| Accounts Payable and Accrued Expenses | $11,351 | $12,036 | ▲ $685 |
| Other Liabilities | - | $1,124 | - |
| Total Liabilities | $199,351 | $249,660 | ▲ $50,309 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $1,154,781 | $1,432,935 | ▲ $278,154 |
| Total Net Assets Fund Balance | $1,154,781 | $1,432,935 | ▲ $278,154 |
| Total Liabilities and Net Assets / Fund Balance | $1,354,132 | $1,682,595 | ▲ $328,463 |
Asset Categories
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Equipment | $5,010 | $122,532 | $127,542 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Robert D Shorb | Exec Dir/sec | FT | $156,775 | $24,200 | $180,975 |
| Robert D Shorb | Exec Dir/secretary | - | $156,775 | $24,200 | $180,975 |
Board Members and Trustees
| Name | Title |
|---|---|
| Lynn M Bynum | Chairperson |
| Barbara B Fritze | Director |
| Dr Angel B Perez | Director |
| Dr Anthony S Caprio | Director |
| Dr Bronte Burleigh-jones | Director |
| Edwin J Butterfoss | Director |
| Maureen a Mckinnon | Director |
| Melissa J Stone | Director |
| Michael H Scott | Director |
| John a Palmucci | Director (th |
| Dr Lucie Lapovsky | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $0
- Program Service Revenue
- $695,057
- Investment Income
- $68,015
- Other Revenue
- $0
- Change in Net Assets
- $104,708
Audited Revenue Reconciliation
- Revenue per Audited Statements
- $763,072
- Revenue Not Reported on Form 990
- $168,446
- Total Revenue per Audited Statements
- $931,518
- Total Revenue per Form 990
- $763,072
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Salaries, Compensation, and Employee Benefits | $453,853 |
| Other Expenses | $105,761 |
| Grants and Similar Amounts Paid | $98,750 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Other Salaries and Wages | $147,747 | $45,082 | - | $192,829 |
| Current Officers, Directors, Trustees, and Key Employees | $143,086 | $43,660 | - | $186,746 |
| Grants to Domestic Individuals | $98,750 | - | - | $98,750 |
| Pension Plan Contributions | $22,044 | $6,726 | - | $28,770 |
| Payroll Taxes | $19,983 | $6,097 | - | $26,080 |
| Other Employee Benefits | $14,886 | $4,542 | - | $19,428 |
| Information Technology | $15,890 | $836 | - | $16,726 |
| Occupancy | $12,238 | $4,450 | - | $16,688 |
| Fees for Services Accounting | - | $11,344 | - | $11,344 |
| Office Expenses | $7,316 | $2,403 | - | $9,719 |
| Conferences and Meetings | $2,527 | $4,258 | - | $6,785 |
| Depreciation Depletion | $4,528 | $1,646 | - | $6,174 |
| Insurance | - | $4,985 | - | $4,985 |
| Advertising | $4,550 | - | - | $4,550 |
| Other Expenses | $3,442 | $777 | - | $3,442 |
| Travel | $817 | $101 | - | $918 |
| Total Functional Expenses | $509,928 | $148,436 | $0 | $658,364 |
Audited Expense Reconciliation
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $658,364 |
| Total Expenses per Audited Statements | $658,364 |
| Total Expenses per Form 990 | $658,364 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- Lobbying activity
- No
- Subject to proxy tax
- No
Debt and Bond Financing
Other Reported Liabilities
| Liability | Amount |
|---|---|
| Payroll Taxes Witheld | $1,124 |
Governance and Compliance
Governance Checklist
- Compiled or reviewed by an accountant
- No
- Annual disclosure for covered persons
- Yes
- Audit committee
- Yes
- Backup withholding compliance
- Yes
- Business relationship with 35% controlled entity
- No
- 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, Page 6, Part VI, Line 11B
“A draft of form 990 is prepared by the outside accountants and reviewed by the entire board of directors prior to filing.”
Form 990, Page 6, Part VI, 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, they disclose the conflict and do not participate in any related deliberations or decisions.”
Form 990, Page 6, Part VI, Line 15A
“The executive director's compensation is reviewed by an independent compensation consultant, using comparative data of other non-profit organizations for the top executive position. Utilizing this information, the board of directors determine and approve the executive director's compensation on an annual basis.”
Form 990, Page 6, Part VI, Line 19
“The tuition exchange makes its 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 STE 700, BETHESDA, MD 20814
Signing Officer
- Name
- Robert D Shorb
- Title
- Exec Dir/secretary
- Phone
- 3019411827
- Signed
- 2022-01-04
- 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
- 11
Preparer
- Firm
- Kendall Prebola and Jones LLC
- Address
- PO BOX 259, BEDFORD, PA 15522-0259
- Preparer
- Robert F Prebola CPA
- Phone
- 8146231880
Supplemental Narrative
Additional Explanations
Form 990, Page 2, Part III, Line 4A
“The tuition exchange is a national scholarship exchange program for institutions of higher education. The program is a network of colleges and universities willing to accept, tuition-free, students from full-time employees of participating institutions. Each participating institution agrees to balance exports with, at a minimum, an equal number of imports. Other than this requirement, members establish their own rules for sending and receiving students. Tuition exchange's main sources of revenue are membership dues and participation fees. Full 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. Grants are also awarded in order to supplement tuition exchange scholarships for those high achieving students who need more financial help in paying non-tuition college expenses.”
Financial Statement Notes
Schedule D, Page 3, Part X
“Accounting principles generally accepted in the united states of america provide consistent guidance for the accounting for uncertainty in income taxes recognized in the organization's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. Tuition exchange performed an evaluation of uncertain tax positions for the year ended june 30, 2021, and determined that there were no matters that would require recognition in the financial statements or that may have an effect on its tax-exempt status. As of june 30, 2021, the statute of limitations for tax years 2018 through 2020 remains open with the u.s. Federal jurisdiction or the various state and local jurisdictions in which the organization files tax returns. It is the organization's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of june 30, 2021, the organization had no accruals for interest and/or penalties.”
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| IRS990/Desc | 0 | THE TUITION EXCHANGE IS A NATIONAL SCHOLARSHIP EXCHANGE PROGRAM FOR INSTITUTIONS OF HIGHER EDUCATION. THE PROGRAM IS A NETWORK OF COLLEGES AND UNIVERSITIES WILLING TO ACCEPT, TUITION-FREE, STUDENTS FROM FULL-TIME EMPLOYEES OF PARTICIPATING INSTITUTIONS. EACH PARTICIPATING INSTITUTION AGREES TO BALANCE EXPORTS WITH, AT A MINIMUM, AN EQUAL NUMBER OF IMPORTS. OTHER THAN THIS REQUIREMENT, MEMBERS ESTABLISH THEIR OWN RULES FOR SENDING AND RECEIVING STUDENTS. TUITION EXCHANGE'S MAIN SOURCES OF REVENUE ARE MEMBERSHIP DUES AND PARTICIPATION FEES. FULL 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. GRANTS ARE ALSO AWARDED IN ORDER TO SUPPLEMENT TUITION EXCHANGE SCHOLARSHIPS FOR THOSE HIGH ACHIEVING STUDENTS WHO NEED MORE FINANCIAL HELP IN PAYING NON-TUITION COLLEGE EXPENSES. |
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| IRS990/IndependentAuditFinclStmtInd | 0 | true |
| IRS990/IndependentVotingMemberCnt | 0 | 10 |
| IRS990/IndivRcvdGreaterThan100KCnt | 0 | 1 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartIIIInd | 0 | X |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
| IRS990/InformationTechnologyGrp/ManagementAndGeneralAmt | 0 | 836 |
| IRS990/InformationTechnologyGrp/ProgramServicesAmt | 0 | 15890 |
| IRS990/InformationTechnologyGrp/TotalAmt | 0 | 16726 |
| IRS990/InsuranceGrp/ManagementAndGeneralAmt | 0 | 4985 |
| IRS990/InsuranceGrp/TotalAmt | 0 | 4985 |
| IRS990/InvestmentIncomeGrp/ExclusionAmt | 0 | 20596 |
| IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt | 0 | 20596 |
| IRS990/InvestmentInJointVentureInd | 0 | false |
| IRS990/InvestmentsPubTradedSecGrp/BOYAmt | 0 | 1033615 |
| IRS990/InvestmentsPubTradedSecGrp/EOYAmt | 0 | 1254976 |
| IRS990/IRPDocumentCnt | 0 | 2 |
| IRS990/IRPDocumentW2GCnt | 0 | 0 |
| IRS990/LandBldgEquipAccumDeprecAmt | 0 | 122532 |
| IRS990/LandBldgEquipBasisNetGrp/BOYAmt | 0 | 9716 |
| IRS990/LandBldgEquipBasisNetGrp/EOYAmt | 0 | 5010 |
| IRS990/LandBldgEquipCostOrOtherBssAmt | 0 | 127542 |
| IRS990/LegalDomicileStateCd | 0 | MD |
| IRS990/LessCostOthBasisSalesExpnssGrp/SecuritiesAmt | 0 | 188133 |
| IRS990/LoanOutstandingInd | 0 | false |
| IRS990/LobbyingActivitiesInd | 0 | false |
| IRS990/LocalChaptersInd | 0 | false |
| IRS990/MaterialDiversionOrMisuseInd | 0 | false |
| IRS990/MembersOrStockholdersInd | 0 | false |
| IRS990/MethodOfAccountingAccrualInd | 0 | X |
| IRS990/MinutesOfCommitteesInd | 0 | true |
| IRS990/MinutesOfGoverningBodyInd | 0 | true |
| IRS990/MissionDesc | 0 | TO ENSURE THAT ALL SEGMENTS OF THE POPULATION HAVE ACCESS TO MORE POST- SECONDARY EDUCATION THROUGH EXPANSION OF THE TUITION EXCHANGE SCHOLARSHIP PROGRAM. |
| IRS990/MoreThan5000KToIndividualsInd | 0 | false |
| IRS990/MoreThan5000KToOrgInd | 0 | false |
| IRS990/NetAssetsOrFundBalancesBOYAmt | 0 | 1154781 |
| IRS990/NetAssetsOrFundBalancesEOYAmt | 0 | 1432935 |
| IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt | 0 | 47419 |
| IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt | 0 | 47419 |
| IRS990/NetUnrlzdGainsLossesInvstAmt | 0 | 168446 |
| IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt | 0 | 1154781 |
| IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt | 0 | 1432935 |
| IRS990/NondeductibleContributionsInd | 0 | false |
| IRS990/OccupancyGrp/ManagementAndGeneralAmt | 0 | 4450 |
| IRS990/OccupancyGrp/ProgramServicesAmt | 0 | 12238 |
| IRS990/OccupancyGrp/TotalAmt | 0 | 16688 |
| IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt | 0 | 2403 |
| IRS990/OfficeExpensesGrp/ProgramServicesAmt | 0 | 7316 |
| IRS990/OfficeExpensesGrp/TotalAmt | 0 | 9719 |
| IRS990/OfficerMailingAddressInd | 0 | false |
| IRS990/OperateHospitalInd | 0 | false |
| IRS990/Organization501c3Ind | 0 | X |
| IRS990/OrganizationFollowsFASB117Ind | 0 | X |
| IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt | 0 | 4542 |
| IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt | 0 | 14886 |
| IRS990/OtherEmployeeBenefitsGrp/TotalAmt | 0 | 19428 |
| IRS990/OtherExpensesGrp/Desc | 0 | INVESTMENT FEES |
| IRS990/OtherExpensesGrp/Desc | 1 | SERVICE CHARGES AND FEES |
| IRS990/OtherExpensesGrp/Desc | 2 | MEMBER TRAINING |
| IRS990/OtherExpensesGrp/Desc | 3 | DUES AND SUBSCRIPTIONS |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 0 | 11529 |
| IRS990/OtherExpensesGrp/ManagementAndGeneralAmt | 1 | 777 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 0 | 5823 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 1 | 6301 |
| IRS990/OtherExpensesGrp/ProgramServicesAmt | 2 | 3442 |
| IRS990/OtherExpensesGrp/TotalAmt | 0 | 11529 |
| IRS990/OtherExpensesGrp/TotalAmt | 1 | 6600 |
| IRS990/OtherExpensesGrp/TotalAmt | 2 | 6301 |
| IRS990/OtherExpensesGrp/TotalAmt | 3 | 3442 |
| IRS990/OtherLiabilitiesGrp/EOYAmt | 0 | 1124 |
| IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt | 0 | 45082 |
| IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt | 0 | 147747 |
| IRS990/OtherSalariesAndWagesGrp/TotalAmt | 0 | 192829 |
| IRS990/PartialLiquidationInd | 0 | false |
| IRS990/PayPremiumsPrsnlBnftCntrctInd | 0 | false |
| IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt | 0 | 6097 |
| IRS990/PayrollTaxesGrp/ProgramServicesAmt | 0 | 19983 |
| IRS990/PayrollTaxesGrp/TotalAmt | 0 | 26080 |
| IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt | 0 | 6726 |
| IRS990/PensionPlanContributionsGrp/ProgramServicesAmt | 0 | 22044 |
| IRS990/PensionPlanContributionsGrp/TotalAmt | 0 | 28770 |
| IRS990/PoliticalCampaignActyInd | 0 | false |
| IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt | 0 | 13012 |
| IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt | 0 | 4710 |
| IRS990/PrincipalOfficerNm | 0 | ROBERT D SHORB |
| IRS990/PriorPeriodAdjustmentsAmt | 0 | 5000 |
| IRS990/ProfessionalFundraisingInd | 0 | false |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 0 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 1 | 900099 |
| IRS990/ProgramServiceRevenueGrp/BusinessCd | 2 | 900099 |
| IRS990/ProgramServiceRevenueGrp/Desc | 0 | MEMBERSHIP DUES |
| IRS990/ProgramServiceRevenueGrp/Desc | 1 | PARTICIPATION FEES |
| IRS990/ProgramServiceRevenueGrp/Desc | 2 | ADMINISTRATIVE FEES |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 369600 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 1 | 301360 |
| IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt | 2 | 24097 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 0 | 369600 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 1 | 301360 |
| IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt | 2 | 24097 |
| IRS990/ProhibitedTaxShelterTransInd | 0 | false |
| IRS990/PYExcessBenefitTransInd | 0 | false |
| IRS990/PYGrantsAndSimilarPaidAmt | 0 | 40000 |
| IRS990/PYInvestmentIncomeAmt | 0 | 27935 |
| IRS990/PYOtherExpensesAmt | 0 | 148352 |
| IRS990/PYProgramServiceRevenueAmt | 0 | 691630 |
| IRS990/PYRevenuesLessExpensesAmt | 0 | 82365 |
| IRS990/PYSalariesCompEmpBnftPaidAmt | 0 | 448848 |
| IRS990/PYTotalExpensesAmt | 0 | 637200 |
| IRS990/PYTotalRevenueAmt | 0 | 719565 |
| IRS990/QuidProQuoContributionsInd | 0 | false |
| IRS990/RcvFndsToPayPrsnlBnftCntrctInd | 0 | false |
| IRS990/ReconcilationRevenueExpnssAmt | 0 | 104708 |
| IRS990/RegularMonitoringEnfrcInd | 0 | true |
| IRS990/RelatedEntityInd | 0 | false |
| IRS990/RelatedOrganizationCtrlEntInd | 0 | false |
| IRS990/ReportInvestmentsOtherSecInd | 0 | false |
| IRS990/ReportLandBuildingEquipmentInd | 0 | true |
| IRS990/ReportOtherAssetsInd | 0 | false |
| IRS990/ReportOtherLiabilitiesInd | 0 | true |
| IRS990/ReportProgramRelatedInvstInd | 0 | false |
| IRS990/RevenueAmt | 0 | 695057 |
| IRS990/SavingsAndTempCashInvstGrp/BOYAmt | 0 | 275530 |
| IRS990/SavingsAndTempCashInvstGrp/EOYAmt | 0 | 96460 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt | 0 | MISCELLANEOUS 700 |
| IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc | 0 | PART III, LINE 12 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt | 0 | 68015 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt | 0 | 27935 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 40585 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 26454 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 19557 |
| IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt | 0 | 182546 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt | 0 | 695057 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt | 0 | 691630 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt | 0 | 684610 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt | 0 | 669516 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt | 0 | 579880 |
| IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt | 0 | 3320693 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt | 0 | 68015 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt | 0 | 27935 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt | 0 | 40585 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt | 0 | 26454 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt | 0 | 19557 |
| IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt | 0 | 182546 |
| IRS990ScheduleA/InvestmentIncomeCYPct | 0 | 0.05000 |
| IRS990ScheduleA/InvestmentIncomePYPct | 0 | 0.04000 |
| IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 700 |
| IRS990ScheduleA/OtherIncome509Grp/TotalAmt | 0 | 700 |
| IRS990ScheduleA/PubliclySupportedOrg509a2Ind | 0 | X |
| IRS990ScheduleA/PublicSupportCY509Pct | 0 | 0.94670 |
| IRS990ScheduleA/PublicSupportPY509Pct | 0 | 0.95590 |
| IRS990ScheduleA/PublicSupportTotal509Amt | 0 | 3317012 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt | 0 | 919 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt | 0 | 1114 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt | 0 | 618 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt | 0 | 1030 |
| IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt | 0 | 3681 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearAmt | 0 | 919 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus1YearAmt | 0 | 1114 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus2YearsAmt | 0 | 618 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/CurrentTaxYearMinus3YearsAmt | 0 | 1030 |
| IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt | 0 | 3681 |
| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind | 0 | X |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt | 0 | 695057 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt | 0 | 691630 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt | 0 | 684610 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt | 0 | 669516 |
| IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt | 0 | 579880 |
| IRS990ScheduleA/Total509Grp/TotalAmt | 0 | 3320693 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt | 0 | 763072 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt | 0 | 719565 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt | 0 | 725195 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt | 0 | 695970 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt | 0 | 600137 |
| IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt | 0 | 3503939 |
| IRS990/ScheduleBRequiredInd | 0 | false |
| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 5010 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 122532 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 127542 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 658364 |
| IRS990ScheduleD/FootnoteTextInd | 0 | X |
| IRS990ScheduleD/NetUnrealizedGainsInvstAmt | 0 | 168446 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 1124 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | PAYROLL TAXES WITHELD |
| IRS990ScheduleD/RevenueNotReportedAmt | 0 | 168446 |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 763072 |
| IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt | 0 | ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. TUITION EXCHANGE PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED JUNE 30, 2021, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE AN EFFECT ON ITS TAX-EXEMPT STATUS. AS OF JUNE 30, 2021, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2018 THROUGH 2020 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATE AND LOCAL JURISDICTIONS IN WHICH THE ORGANIZATION FILES TAX RETURNS. IT IS THE ORGANIZATION'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. AS OF JUNE 30, 2021, THE ORGANIZATION HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES. |
| IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE D, PAGE 3, PART X |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 5010 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 658364 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 1124 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 763072 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 931518 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 658364 |
| IRS990ScheduleI/GrantRecordsMaintainedInd | 0 | true |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt | 0 | 98750 |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt | 0 | TUIT EXCH GRANT OPPURTUN |
| IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt | 0 | 10 |
| IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt | 0 | THE 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 LIASON OFFICER AT THE STUDENT'S HOME INSTITUTION ALSO CONFIRMS THE STUDENT ENROLLMENT AT AN ELIGIBLE INSTITUTION VIA THE TUITION EXCHANGE ANNUAL REPORT. |
| IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE I, PAGE 1, PART I, LINE 2 |
| IRS990ScheduleJ/AnyNonFixedPaymentsInd | 0 | false |
| IRS990ScheduleJ/BoardOrCommitteeApprovalInd | 0 | X |
| IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd | 0 | false |
| IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd | 0 | false |
| IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd | 0 | false |
| IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd | 0 | false |
| IRS990ScheduleJ/CompensationCommitteeInd | 0 | X |
| IRS990ScheduleJ/CompensationSurveyInd | 0 | X |
| IRS990ScheduleJ/EquityBasedCompArrngmInd | 0 | false |
| IRS990ScheduleJ/IndependentConsultantInd | 0 | X |
| IRS990ScheduleJ/InitialContractExceptionInd | 0 | false |
| IRS990/ScheduleJRequiredInd | 0 | true |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt | 0 | 156775 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt | 0 | 24200 |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm | 0 | ROBERT D SHORB |
| IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt | 0 | EXEC DIR/SECRETARY |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2021 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $1,682,595
- Liabilities
- $249,660
- Net assets
- $1,432,935
- Revenue
- $763,072
- Expenses
- $658,364
- Net income
- $104,708