What is The NIL Disclosure XChange™?
In adherence to new state law, any student who is compensated for their Name, Image, and Likeness ("NIL") must disclose those activities to their university or to a Disclosure Designee™. The NIL XChange™ (or "The XChange") offers athletic directors and students resources including financial literacy and planning for federal tax liabilities.
The NX Report is an important disclosure tool for mitigating inadvertent violations due to disparate legislative measures and unclear oversight that is supported by a protected document storage and management system. By having students complete the NX Report, postsecondary institutions of higher learning take an important step in allowing students their NIL rights, while mitigating their own potential exposure. NIL XChange counselors and staff provide the back office support required to help students and administrators be successful.
NX REPORTS GIVES YOU:
Complete NIL Compliance
Full Liability Protection
Centralized Doc Storage
Alerts & Notifications
NX REPORTS HELPS YOU:
Understand NIL Legislation
Disclose Endorsements Safely
Use Fast & Easy Mobile Forms
Save & Store NIL Documentation
Receive Alerts & Notifications
Universities have a blind spot that legislation exposes.
Every state is unique and the lack of federal legislation does not absolve students from having to disclosure their NIL activities to their college. Traditionally, managing student NIL compliance would fall under the jurisprudence of athletic directors who are often under-equipped to gather and handle sensitive financial and legal information. The XChange platform is not only a service to help students and colleges work together, but a platform that provides the "exchange" of information to all parties on key obligations relating to NIL rights.
The XChange serves as a university's disclosure designee™, an important risk mitigation and compliance service, through its proprietary NX Report.
The Xchange leadership has been in the disclosure industry since 2006 and our reports and process are covered by a $1,000,000 errors and omissions policy.
NIL + LEGAL
All legal steps and requirements will be completed when using The XChange reporting platform.
DOCUMENT + DATA
All of your contracts and docs will be saved on your drive with a PDF of your NX Self Disclosure Report.
Our forms can be completed by desktop, tablet, or mobile and are easy to use.
TAX + LEGAL
Use our network of CPAs and legal experts to ensure you meet your annual tax obligations.
EMAIL + TEXT
Every Self-Disclosure Report will be sent to you. Receive updates and notifications by text/email.
Gain access to our industry communications network and stay informed.