Exchange Network
- Assets
- $95.6k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 1
- Location
- Columbia, SC
- Founding
- 03/2017
- Data as of
- 12/2023
- EIN
- 56-2087804
Organization Overview
Exchange Network is located in Columbia, SC. The organization was established in 2017. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Exchange Network is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Exchange Network generated $141.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (13.4%) each year. All expenses for the organization totaled $155.4k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (10.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO BE THE CORE PERSON-TO-PERSON NETWORKING RESOURCE FOR THE WEALTH & INVESTMENT MANAGEMENT INDUSTRY.
Describe the Organization's Program Activity:
Part 3
PROVIDING 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.
SERVING AS A LIASON FOR SHARING ISSUES AND CONCERNS WITH INDUSTRY LEADERS AND VENDORS
TRAINING AND EDUCATING MEMBERS ON TOPICS PERTINENT TO THE INVESTMENT AND WEALTH MANAGEMENT FIELD
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Stiles Member | 2 | $0 | |
Jason Guthrie Member | 2 | $0 | |
Donna Palumbo Secretary | 2 | $0 | |
Rama Balasubramanian President | 2 | $0 | |
Jennifer Kelley VP | 2 | $0 | |
Jim Seng Treasurer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $72,000 |
| Membership dues | $69,349 |
| Investment income | $40 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $141,389 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $70,300 |
| Professional fees and other payments to independent contractors | $29,335 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $55,773 |
| Total expenses | $155,408 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $95,574 |
| Other assets | $0 |
| Total assets | $95,574 |
| Total liabilities | $0 |
| Net assets or fund balances | $95,574 |