The Xchange Report, Disclosure Designee™
The NIL Disclosure Xchange (or "The Xchange") is a risk management and data disclosure company that provides secure information exchange between colleges and students being compensated for their Name, Image and Likeness (NIL) at the intercollegiate level. Current legislation will require that participating students self-disclose their NIL earnings to their post secondary institution of higher learning (their college). This component often leaves the college's athletic director with the additional task of handling sensitive financial information and legally binding contracts for hundreds, in some case thousands of students. The Xchange helps athletic directors by alleviating them of document handling and day-to-day NIL compliance management.
The Xchange Self Disclosure Report (or "NX Report) serves as disclosure designee™ for universities as they engage with student athletes. By creating The NX Report, a proprietary questionnaire and report, we can walk the student through the necessary legislative policy requirements, then offers an app-based information exchange for delivery and hosting of relevant financial and legal disclosure information.
The XChange's Leadership in California Disclosure
The Xchange's management team originally started in the hazard disclosure space in California in 2006. Similar to state initiatives regarding NIL today, California law requires the disclosure of natural hazards (high severity fire zones, mudslide zones) be made by a third party administrator. At that time, The Exchange leadership produced reports in transactions totaling $2.65 billion, without error and covering every county in California.
Since then, given our leadership on the California Community Colleges Workgroup (SB 206-NIL), we have advanced our focus, as well as our expertise in financial aid, intercollegiate athletics, and the tax code, to create a report that allows universities the ability to provide secure information exchange at a fraction of hiring additional staff.
Who We Are
Our company is comprised of former athletes, attorneys, university administrators, as well as policy and finance experts, with the goal of assuring that students report NIL activities accurately, and that they avoid the pitfalls and inadvertent violations often associated with not understanding basic tax liability and compliance obligations.