Civic Intelligence

The Exchange Network F/K/A Aug the Exchange

990 • Fiscal year 2022 • EIN 56-2087804

Jan 01, 2022 to Dec 31, 2022 • Filed on May 14, 2023

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

(888) 241-6881

Siviq Scores

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

Liabilities / Assets

45th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Liabilities / Revenue

45th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Net Margin

51st percentile

3.1%

Higher net margin than 51% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Top Officer Pay

96th percentile

$97,375

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 40.6% of source-year revenue.

2022 filings • 501(c)6 • <$500k nonprofits • Source year 2022

Asset Growth

60th percentile

5.3%

Faster asset growth than 60% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

86th percentile

84%

Faster revenue growth than 86% of similar nonprofits.

2022 filings • 501(c)6 • <$500k nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets45th percentile

Assets

Up

$109,591

Up $5,500 (+5.3%) from 2021

Net Assets

Up

$109,591

Up $18,163 (+20%) from 2021

Liabilities

Down

$0

Down $12,663 (-100%) from 2021

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin51st percentile

Revenue

Up

$239,569

Up $109,139 (+84%) from 2021

Expenses

Up

$232,060

Up $12,909 (+5.9%) from 2021

Net Income

Up

$7,509

Up $96,230 (+108%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth60th 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

2022

Assets$109,591
Liabilities$0
Net Assets$109,591
Open 2022 Filing

Operations Trend

Revenue Growth86th 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

2022

Revenue$239,569
Expenses$232,060
Net Income$7,509
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 14, 2023
Return Version
2022v5.0
Gross Receipts
$239,569
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
Cash and Non-Interest-Bearing Accounts$102,091$109,591▲ $7,500
Rtn Earn Endowment Incm Other Fnds$91,428$109,591▲ $18,163
Accounts Receivable$2,000$0▼ $2,000
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$104,091$109,591▲ $5,500
Liabilities
Accounts Payable and Accrued Expenses$12,663$0▼ $12,663
Total Liabilities$12,663$0▼ $12,663
Net Assets / Fund Balance
Total Net Assets Fund Balance$91,428$109,591▲ $18,163
Total Liabilities and Net Assets / Fund Balance$104,091$109,591▲ $5,500

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$0$177,201$177,201
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jennifer LitchfieldExecutive Director Thru Dec 2022FT$97,375$97,375
Mark MoranExecutive Director Start Dec 2022PT$6,250$6,250

Board Members and Trustees

NameTitle
Rama BalasubramanianPresident
Jennifer KelleyVice President
David LeeBoard Member
Jason GuthrieBoard Member
John StilesBoard Member
Kelly PalmerBoard Member
Donna PalumboSecretary
Ann MasseySenior Advisor
Jim SengTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$58,239
Program Service Revenue
$178,649
Investment Income
$2,681
Other Revenue
$0
Change in Net Assets
$7,509
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$144,551
Other Expenses$87,509
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---$103,625
Conferences and Meetings---$32,616
Fees for Services Other---$31,627
Other Salaries and Wages---$24,700
Information Technology---$13,254
Payroll Taxes---$9,736
Pension Plan Contributions---$6,104
Insurance---$3,072
Advertising---$2,930
Travel---$2,444
Office Expenses---$1,415
Other Employee Benefits---$386
Fees for Services Legal---$90
Other Expenses---$61
Total Functional Expenses$0$0$0$232,060
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
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 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 acknowledges the conflict of interest policy on an annual basis. In the event a conflict arises during the year, the interested person shall recuse himself/herself from all discussions and vote on the matter.”

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

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

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
8882416881
Address
PMB 336 10120 TWO NOTCH ROAD, COLUMBIA, SC 29223-4395

Signing Officer

Name
Jennifer Litchfield
Title
Executive Director
Phone
8882416881
Signed
2023-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Moran
Formed
1998
Legal Domicile
Sc
Voting Board Members
11
Independent Board Members
11
Employees
1
Volunteers
9

Preparer

Firm
Elliott Davis Llcpllc
Address
1901 MAIN STREET SUITE 900, COLUMBIA, SC 29201
Preparer
Janice a Ratica
Phone
8032560002
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Other professional fees 31,627.”

FORM 990, PART XI, LINE 9:

“Accrual to cash adjustment 10,654.”

Raw XML Appendix363 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/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt7SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt8SENIOR ADVISOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9EXECUTIVE DIRECTOR THRU DEC 2022
IRS990/Form990PartVIISectionAGrp/TitleTxt10EXECUTIVE DIRECTOR START DEC 2022
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FULL BOARD WILL RECEIVE A COPY OF THE 990 FOR REVIEW PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS ACKNOWLEDGES THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. IN THE EVENT A CONFLICT ARISES DURING THE YEAR, THE INTERESTED PERSON SHALL RECUSE HIMSELF/HERSELF FROM ALL DISCUSSIONS AND VOTE ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE INDEPENDENT BOARD DETERMINES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR USING COMPARABLE DATA OF SIMILARLY SITUATED ORGANIZATIONS IN THE SAME GEOGRAPHICAL AREA. ALL DECISIONS ARE DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4OTHER PROFESSIONAL FEES 31,627.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ACCRUAL TO CASH ADJUSTMENT 10,654.
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 15A
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/TotalAssetsBOYAmt0104091
IRS990/TotalAssetsEOYAmt0109591
IRS990/TotalAssetsGrp/BOYAmt0104091
IRS990/TotalAssetsGrp/EOYAmt0109591
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt058239
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/TotalAmt0232060
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012663
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt012663
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt091428
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0109591
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0178649
IRS990/TotalReportableCompFromOrgAmt0103625
IRS990/TotalRevenueGrp/ExclusionAmt02681
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0178649
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0239569
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0104091
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0109591
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt02444
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/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNIFER LITCHFIELD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08882416881
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-05-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE EXCHANGE NETWORK
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0F/K/A AUG THE EXCHANGE
ReturnHeader/Filer/BusinessNameControlTxt0EXCH
ReturnHeader/Filer/EIN0562087804
ReturnHeader/Filer/PhoneNum08882416881
ReturnHeader/Filer/USAddress/AddressLine1Txt0PMB 336 10120 TWO NOTCH ROAD
ReturnHeader/Filer/USAddress/CityNm0COLUMBIA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SC
ReturnHeader/Filer/USAddress/ZIPCd0292234395
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
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/PreparationDt02023-05-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANICE A RATICA
ReturnHeader/ReturnTs02023-05-15T10:42:30-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JENNIFER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LITCHFIELD
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$109,591
Liabilities
$0
Net assets
$109,591
Revenue
$239,569
Expenses
$232,060
Net income
$7,509
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