Civic Intelligence

The Tuition Exchange Inc

990 • Fiscal year 2025 • EIN 04-2227075

Jul 01, 2024 to Jun 30, 2025

3 Bethesda Metro Center Ste 700Bethesda, MD 20814

(301) 941-1827

Siviq Scores

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

Liabilities / Assets

58th percentile

0.10x

Higher debt load relative to assets than 58% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

65th percentile

0.18x

Higher debt load relative to revenue than 65% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

12th percentile

-19%

Higher net margin than 12% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

92nd percentile

$218,521

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 25.0% of source-year revenue.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

8th percentile

-16%

Faster asset growth than 8% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

33rd percentile

-1.5%

Faster revenue growth than 33% of similar nonprofits.

2025 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Down

$1,550,184

Down $297,980 (-16%) from 2024

Net Assets

Down

$1,389,799

Down $79,505 (-5.4%) from 2024

Liabilities

Down

$160,385

Down $218,475 (-58%) from 2024

Revenue

Down

$875,089

Down $13,724 (-1.5%) from 2024

Expenses

Up

$1,039,243

Up $153,716 (+17%) from 2024

Net Income

Down

-$164,154

Down $167,440 (-5096%) from 2024

Historical Trend

Balance Sheet Trend

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

2025

Assets$1,550,184
Liabilities$160,385
Net Assets$1,389,799

Operations Trend

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

2025

Revenue$875,089
Expenses$1,039,243
Net Income-$164,154
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Apr 17, 2026
Return Version
2024v5.0
Gross Receipts
$896,879
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
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$877,694$809,997▼ $67,697
Land, Buildings, and Equipment, Net$534,843$479,961▼ $54,882
Savings and Temporary Cash Investments$395,144$232,786▼ $162,358
Cash and Non-Interest-Bearing Accounts$22,014$18,048▼ $3,966
Prepaid Expenses and Deferred Charges$18,284$9,207▼ $9,077
Accounts Receivable$185$185→ $0
Total Assets$1,848,164$1,550,184▼ $297,980
Liabilities
Grants Payable$142,500$122,500▼ $20,000
Deferred Revenue$57,300$31,800▼ $25,500
Other Liabilities$5,705$3,218▼ $2,487
Accounts Payable and Accrued Expenses$173,355$2,867▼ $170,488
Total Liabilities$378,860$160,385▼ $218,475
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,469,304$1,389,799▼ $79,505
Total Net Assets Fund Balance$1,469,304$1,389,799▼ $79,505
Total Liabilities and Net Assets / Fund Balance$1,848,164$1,550,184▼ $297,980

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$479,961$57,675$537,636
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Kristin R TichenorPresidentFT$182,693$35,828$218,521
Kristine Lev - Associate Vp FinanceAnd OperatioFT$106,430$15,016$121,446

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$1,312
Program Service Revenue
$854,590
Investment Income
$19,187
Other Revenue
$0
All Other Contributions
$1,312
Change in Net Assets
$-164,154
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$690,916
Other Expenses$308,327
Grants and Similar Amounts Paid$40,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$250,495$68,432-$318,927
Current Officers, Directors, Trustees, and Key Employees$211,741$57,844-$269,585
Information Technology$80,441$4,234-$84,675
Conferences and Meetings$18,068$42,158-$60,226
Depreciation Depletion$45,598$8,685-$54,283
Payroll Taxes$32,775$8,954-$41,729
Grants to Domestic Individuals$40,000--$40,000
Office Expenses$33,868$4,601-$38,469
Pension Plan Contributions$24,794$6,774-$31,568
Other Employee Benefits$22,862$6,245-$29,107
Travel$16,510$885-$17,395
Fees for Services Accounting-$16,935-$16,935
Fees for Services Other$10,790--$10,790
Insurance-$7,661-$7,661
Other Expenses$1,260$240-$1,500
Advertising$263--$263
Total Functional Expenses$805,509$233,734$0$1,039,243
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Taxes Witheld$3,218
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 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
Dr Kristin R Tichenor
Title
President
Phone
3019411827
Signed
2026-04-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Kristin R Tichenor
Formed
1954
Legal Domicile
Md
Voting Board Members
11
Independent Board Members
11
Employees
7
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 (or at the set rate), students from full-time employees of participating institutions. Each participating institution agrees to try to balance exported students with imported students. 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/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, 2025, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. As of june 30, 2025, the statute of limitations for tax years 2022 through 2024 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, 2025, the organization had no accruals for interest and/or penalties.

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IRS990/Desc0THE 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 (OR AT THE SET RATE), STUDENTS FROM FULL-TIME EMPLOYEES OF PARTICIPATING INSTITUTIONS. EACH PARTICIPATING INSTITUTION AGREES TO TRY TO BALANCE EXPORTED STUDENTS WITH IMPORTED STUDENTS. 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/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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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0854590
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt057675
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0537636
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt03218
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAXES WITHELD
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING 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, 2025, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF JUNE 30, 2025, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2022 THROUGH 2024 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, 2025, THE ORGANIZATION HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalLiabilityAmt03218
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt040000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0TUIT EXCH GRANT OPPURTUN
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt04
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 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/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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 (OR AT THE SET RATE), STUDENTS FROM FULL-TIME EMPLOYEES OF PARTICIPATING INSTITUTIONS. EACH PARTICIPATING INSTITUTION AGREES TO TRY TO BALANCE EXPORTED STUDENTS WITH IMPORTED STUDENTS. 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/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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A DRAFT OF FORM 990 IS PREPARED BY THE OUTSIDE ACCOUNTANTS AND REVIEWED BY THE ENTIRE BOARD OF DIRECTORS PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE TUITION EXCHANGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4A

Document Assets

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Filings

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