Civic Intelligence

The Exchange Network F/K/A Aug the Exchange

990 • Fiscal year 2020 • EIN 56-2087804

Jan 01, 2020 to Dec 31, 2020 • Filed on May 03, 2021

Organization ProfileWWW.THEEXCHANGENETWORK.ORG
Pmb 336 10120 Two Notch RoadColumbia, SC 29223-4395

(803) 419-5192

Siviq Scores

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

Liabilities / Assets

69th percentile

0.08x

Higher debt load relative to assets than 69% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

67th percentile

0.06x

Higher debt load relative to revenue than 67% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

15th percentile

-36%

Higher net margin than 15% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

96th percentile

$101,625

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 37.7% of source-year revenue.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

9th percentile

-38%

Faster asset growth than 9% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

25th percentile

-45%

Faster revenue growth than 25% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets69th percentile

Assets

Down

$195,183

Down $118,567 (-38%) from 2019

Net Assets

Down

$180,149

Down $90,247 (-33%) from 2019

Liabilities

Down

$15,034

Down $28,320 (-65%) from 2019

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin15th percentile

Revenue

Down

$269,781

Down $218,059 (-45%) from 2019

Expenses

Up

$367,439

Up $13,710 (+3.9%) from 2019

Net Income

Down

-$97,658

Down $231,769 (-173%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

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

$400K$300K$200K$100K$0Assets 2017: $363,296Liabilities 2017: $121,848Net Assets 2017: $241,4482017Assets 2018: $275,555Liabilities 2018: $139,270Net Assets 2018: $136,2852018Assets 2019: $313,750Liabilities 2019: $43,354Net Assets 2019: $270,3962019Assets 2020: $195,183Liabilities 2020: $15,034Net Assets 2020: $180,1492020Assets 2021: $104,091Liabilities 2021: $12,663Net Assets 2021: $91,4282021Assets 2022: $109,591Liabilities 2022: $0Net Assets 2022: $109,5912022Assets 2023: $95,574Liabilities 2023: $0Net Assets 2023: $95,5742023Assets 2024: $78,514Liabilities 2024: $0Net Assets 2024: $78,5142024

Highlighted filing

2020

Assets$195,183
Liabilities$15,034
Net Assets$180,149
Open 2020 Filing

Operations Trend

Revenue Growth25th percentile

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

$600K$400K$200K$0-$200KRevenue 2017: $385,837Expenses 2017: $341,024Net Income 2017: $44,8132017Revenue 2018: $328,715Expenses 2018: $392,872Net Income 2018: -$64,1572018Revenue 2019: $487,840Expenses 2019: $353,729Net Income 2019: $134,1112019Revenue 2020: $269,781Expenses 2020: $367,439Net Income 2020: -$97,6582020Revenue 2021: $130,430Expenses 2021: $219,151Net Income 2021: -$88,7212021Revenue 2022: $239,569Expenses 2022: $232,060Net Income 2022: $7,5092022Revenue 2023: $141,389Expenses 2023: $155,408Net Income 2023: -$14,0192023Revenue 2024: $123,382Expenses 2024: $140,442Net Income 2024: -$17,0602024

Highlighted filing

2020

Revenue$269,781
Expenses$367,439
Net Income-$97,658
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 3, 2021
Return Version
2020v4.1
Gross Receipts
$269,781
Mission and Program Overview

Mission

To create a member network which offers a forum for interactions on industry-related topics, provides opportunities to collaborate on tips, tricks and industry best practices, and channels feedback to industry service providers.

To be the core person-to-person networking resource for the wealth & investment management industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$175,536$180,637▲ $5,101
Rtn Earn Endowment Incm Other Fnds$270,396$180,149▼ $90,247
Accounts Receivable$119,642$7,623▼ $112,019
Cash and Non-Interest-Bearing Accounts$18,572$6,923▼ $11,649
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$313,750$195,183▼ $118,567
Liabilities
Accounts Payable and Accrued Expenses$43,354$14,034▼ $29,320
Deferred Revenue-$1,000-
Total Liabilities$43,354$15,034▼ $28,320
Net Assets / Fund Balance
Total Net Assets Fund Balance$270,396$180,149▼ $90,247
Total Liabilities and Net Assets / Fund Balance$313,750$195,183▼ $118,567

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$0$3,266$3,266
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer LitchfieldExecutive DirectorFT$97,500$4,125$101,625

Board Members and Trustees

NameTitle
Megan SniderPresident
Jason GuthrieVice President
Bob StiessBoard Member
Brett RaineyBoard Member
Clare RetrumBoard Member
David LeeBoard Member
Donna PalumboBoard Member
Jim SengBoard Member
John StilesBoard Member
Mark ParkerBoard Member
Michelle McdonoughBoard Member
Sonia ErnstBoard Member
Jennifer KelleySecretary
Ann MasseySenior Advisor
Kent LawsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,000
Program Service Revenue
$266,678
Investment Income
$103
Other Revenue
$0
Change in Net Assets
$-97,658
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$198,052
Other Expenses$169,387
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees---$97,500
Conferences and Meetings---$88,408
Other Salaries and Wages---$80,000
Information Technology---$24,193
Fees for Services Other---$22,407
Fees for Services Accounting---$17,200
Payroll Taxes---$13,927
Pension Plan Contributions---$6,625
Travel---$5,232
Office Expenses---$3,984
Advertising---$3,552
Insurance---$3,101
Other Expenses---$188
Total Functional Expenses$0$0$0$367,439
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
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 full board will receive a copy of the 990 for review prior to filing.”

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

“The board of directors shall determine if a conflict of interest exists. Intrested parties involved with the transaction shall not be present during the board's discussion or determination of whether a conflict of interest exists.”

Form 990, Part VI, Section B, Line 15

“The independent board determines the compensation for the executive director using comparable data of similarly situated organizations in the same geographical area.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflicts of interest policy and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
The Exchange Network
EIN
56-2087804
Phone
8034195192
Address
PMB 336 10120 TWO NOTCH ROAD, COLUMBIA, SC 29223-4395

Signing Officer

Name
Kent Lawson
Title
Treasurer
Phone
8034195192
Signed
2021-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kent Lawson
Formed
1998
Legal Domicile
Sc
Voting Board Members
11
Independent Board Members
11
Employees
3
Volunteers
15

Preparer

Firm
Elliott Davis Llcpllc
Address
1901 MAIN STREET SUITE 900, COLUMBIA, SC 29201
Preparer
Denise P Hill
Phone
8032560002
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Payroll processing fees 2,032. Other professional fees 20,375.”

FORM 990, PART XI, LINE 9:

“Accrual to cash adjustment 7,411.”

Raw XML AppendixShowing 400 of 401 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.

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IRS990/Desc0PROVIDING A FORUM FOR THE EXCHANGE OF INFORMATION, EXPERIENCE AND IDEAS AMONG MEMBERS ON ALL FACETS OF INVESTMENT AND WEALTH MANAGEMENT, INCLUDING COMPLIANCE, MANAGEMENT, OPERATIONS, TECHNOLOGY, PRODUCT DEVELOPMENT AND OVERALL EXPERTISE.
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IRS990/Form990PartVIISectionAGrp/PersonNm3BOB STIESS
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IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
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IRS990/Form990PartVIISectionAGrp/TitleTxt11PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt12VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt13TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt14SECRETARY
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt4750
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0121938
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt181684
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt233641
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt328665
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt4750
IRS990/ProgSrvcAccomActy2Grp/Desc0SERVING AS A LIASON FOR SHARING ISSUES AND CONCERNS WITH INDUSTRY LEADERS AND VENDORS
IRS990/ProgSrvcAccomActy3Grp/Desc0TRAINING AND EDUCATING MEMBERS ON TOPICS PERTINENT TO THE INVESTMENT AND WEALTH MANAGEMENT FIELD
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0152
IRS990/PYOtherExpensesAmt0199212
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0487688
IRS990/PYRevenuesLessExpensesAmt0134111
IRS990/PYSalariesCompEmpBnftPaidAmt0154517
IRS990/PYTotalExpensesAmt0353729
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0487840
IRS990/ReconcilationRevenueExpnssAmt0-97658
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0270396
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0180149
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0175536
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0180637
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt00
IRS990ScheduleD/EquipmentGrp/DepreciationAmt03266
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03266
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FULL BOARD WILL RECEIVE A COPY OF THE 990 FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS SHALL DETERMINE IF A CONFLICT OF INTEREST EXISTS. INTRESTED PARTIES INVOLVED WITH THE TRANSACTION SHALL NOT BE PRESENT DURING THE BOARD'S DISCUSSION OR DETERMINATION OF WHETHER A CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE INDEPENDENT BOARD DETERMINES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR USING COMPARABLE DATA OF SIMILARLY SITUATED ORGANIZATIONS IN THE SAME GEOGRAPHICAL AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PAYROLL PROCESSING FEES 2,032. OTHER PROFESSIONAL FEES 20,375.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ACCRUAL TO CASH ADJUSTMENT 7,411.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0SC
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0313750
IRS990/TotalAssetsEOYAmt0195183
IRS990/TotalAssetsGrp/BOYAmt0313750
IRS990/TotalAssetsGrp/EOYAmt0195183
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03000
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/TotalAmt0367439
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt043354
IRS990/TotalLiabilitiesEOYAmt015034
IRS990/TotalLiabilitiesGrp/BOYAmt043354
IRS990/TotalLiabilitiesGrp/EOYAmt015034
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0270396
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0180149
IRS990/TotalOtherCompensationAmt04125
IRS990/TotalProgramServiceRevenueAmt0266678
IRS990/TotalReportableCompFromOrgAmt097500
IRS990/TotalRevenueGrp/ExclusionAmt0103
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0266678
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0269781
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0313750
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0195183
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt05232
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PMB 336 10120 TWO NOTCH ROAD
IRS990/USAddress/CityNm0COLUMBIA
IRS990/USAddress/StateAbbreviationCd0SC
IRS990/USAddress/ZIPCd0292234395
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0HTTPS://WWW.THEEXCHANGENETWORK.ORG/
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KENT LAWSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08034195192
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE EXCHANGE NETWORK
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0F/K/A AUG THE EXCHANGE
ReturnHeader/Filer/BusinessNameControlTxt0EXCH
ReturnHeader/Filer/EIN0562087804
ReturnHeader/Filer/PhoneNum08034195192
ReturnHeader/Filer/USAddress/AddressLine1Txt0PMB 336 10120 TWO NOTCH ROAD
ReturnHeader/Filer/USAddress/CityNm0COLUMBIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd0292234395
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0570381582
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ELLIOTT DAVIS LLCPLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01901 MAIN STREET SUITE 900
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COLUMBIA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd029201
ReturnHeader/PreparerPersonGrp/PhoneNum08032560002
ReturnHeader/PreparerPersonGrp/PreparationDt02021-05-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DENISE P HILL
ReturnHeader/ReturnTs02021-05-04T13:50:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KENT
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LAWSON
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$195,183
Liabilities
$15,034
Net assets
$180,149
Revenue
$269,781
Expenses
$367,439
Net income
-$97,658
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.79$0.00$0.79$1.23$1.40$0.17
2023Detailed filing. Detailed filing data is available for this year.$0.96$0.00$0.96$1.41$1.55$0.14
2022Detailed filing. Detailed filing data is available for this year.$1.10$0.00$1.10$2.40$2.32$0.08
2021Detailed filing. Detailed filing data is available for this year.$1.04$0.13$0.91$1.30$2.19$0.89
2020Detailed filing. Detailed filing data is available for this year.$1.95$0.15$1.80$2.70$3.67$0.98
2019Summary only. Only limited summary data is available for this year.$3.14$0.43$2.70$4.88$3.54$1.34
2018Detailed filing. Detailed filing data is available for this year.$2.76$1.39$1.36$3.29$3.93$0.64
2017Detailed filing. Detailed filing data is available for this year.$3.63$1.22$2.41$3.86$3.41$0.45