2016-07-01T10:18:59-05:00 2015-09-30 113518842 MARKS PANETH LLP 685 THIRD AVENUE NEW YORK NY 10017 990 2014-10-01 020439252 PROGRAM OF ACADEMIC EXCHANGE INC PROG 9146901340 14 WILLET AVENUE PORT CHESTER NY 10573 RICHARD WAKSMAN CFO 9146901340 2016-07-01 1 ROBERT R LYONS P00227472 2125038800 2014 2016-09-27 15:27:22Z RICHARD WAKSMAN 14 WILLET AVENUE PORT CHESTER NY 10573 10871288 0 X WWW.PAX.ORG X 1990 NY PAX LAURASIAN EXCHANGE ENVISIONS A GLOBAL COMMUNITY OF PEOPLE WHO ARE OPEN MINDED AND APPRECIATE CULTURAL DIFFERENCES, BECAUSE WE BELIEVE SUCH A COMMUNITY IS A FERTILE FIELD FOR JUSTICE, PEACE, AND PROSPERITY. WE ASPIRE TO BE THE QUALITY LEADER IN ACADEMIC EXCHANGE AND EXPERIENTIAL LEARNING BECAUSE WE BELIEVE SUCH EXPERIENCES TRANSFORM THE INDIVIDUAL'S ABILITY TO INFLUENCE OUR WORLD FOR THE BETTER. 10 9 37 10 0 0 2638959 2918455 5036882 7948942 3808 3891 0 0 7679649 10871288 13488 29657 0 0 2899902 3293119 0 0 0 4548330 7348756 7461720 10671532 217929 199756 2895328 3023074 243496 680940 2651832 2342134 X PROGRAM OF ACADEMIC EXCHANGE PROVIDES GLOBAL EDUCATION AND EXCHANGE OPPORTUNITIES FOR STUDENTS, HOST FAMILIES, SCHOOLS, AND COMMUNITIES TO OPEN DOORS, EMBRACE CULTURES, AND BECOME FAMILY 1 0 10003343 29657 7948942 TO FACILITATE CROSS CULTURAL LEARNING BY ALLOWING INTERNATIONAL HIGH SCHOOL STUDENTS TO LIVE WITH HOST FAMILIES WHILE ATTENDING SCHOOL IN THE UNITED STATES. 10003343 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 311 0 37 1 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NH CA IN X RICHARD WAKSMAN 9146901340 14 WILLET AVENUE PORT CHESTER NY 10573 THOMAS CARROLL DIRECTOR (FORMER) 5.00 X 0 0 0 ROB FENSTERMACHER DIRECTOR 5.00 X 0 0 0 TOM WHITEHOUSE DIRECTOR 5.00 X 0 0 0 W EDWARD MASSEY DIRECTOR 5.00 X 0 0 0 WALTER STEWART DIRECTOR 5.00 X 0 0 0 MICHAEL MCKENNA DIRECTOR 5.00 X 0 0 0 SCOTT MEADEWS DIRECTOR 5.00 X 0 0 0 BRADLEY SMITH PRESIDENT 40.00 X X 186627 0 4823 RODNEY GOULD DIRECTOR 5.00 X 0 0 0 KEVIN MCQUADE DIRECTOR 5.00 X 0 0 0 DAVID MEREDITH DIRECTOR (FORMER) 5.00 X 0 0 0 MATTHIAS OHM DIRECTOR (FORMER) 5.00 X 0 0 0 YVONNE FORMAN DIRECTOR (FORMER) 5.00 X 0 0 0 JANE SPALDING DIRECTOR 5.00 X 0 0 0 RICHARD WAKSMAN C.F.O 16.00 X 65300 0 0 SARAH FELLOWS VP, QUALITY 40.00 X 44998 0 3030 MARI CARPENTER VP, JAPAN & SHORT TERM PROG. 40.00 X 32998 0 3030 329923 0 10883 1 0 1 0 0 2918455 2918455 PROGRAM FEES 611710 7948942 7948942 7948942 3891 3891 10871288 7948942 0 3891 X 29657 29657 360583 296283 64300 2377802 2260423 117379 60865 30124 30741 258442 157030 101412 235427 146780 88647 38000 38000 81393 79714 1679 93314 89681 3633 65761 58215 7546 279622 255342 24280 190518 162984 27534 594528 584347 10181 5055 1615 3440 16138 16138 724763 724763 STUDENT EXPENSE 1733098 1733098 PLACEMENT 1219173 1219173 MISCELLANEOUS 689090 592554 96536 NATIONAL MEETING 465731 465731 1152572 1115829 36743 10671532 10003343 668189 0 2715462 2771373 58444 100126 24988 27678 598789 516390 63709 82399 32725 41498 2895328 3023074 205098 189704 38398 36097 455139 243496 680940 X 2651832 2342134 2651832 2342134 2895328 3023074 X 199756 -509454 X X 0 1 X 1 1 1 X 2314616 2288092 2547432 2547432 2918455 12616027 4323001 4479582 4865582 5036882 7948942 26653989 6637617 6767674 7413014 7584314 10867397 39270016 0 0 0 39270016 3235 1233 2142 3808 3891 14309 3235 1233 2142 3808 3891 14309 6640852 6768907 7415156 7588122 10871288 39284325 0.99960 0.99950 0.00040 0.00050 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 58098 3060 55038 540691 513330 27361 82399 X 10361834 -509454 -509454 10871288 0 10871288 10686393 14861 14861 10671532 0 10671532 PART X, LINE 2: PAX BELIEVES IT HAS NO UNCERTAIN TAX POSITIONS AS OF SEPTEMBER 30, 2015 AND 2014 IN ACCORDANCE WITH ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740 ("INCOME TAXES"), WHICH PROVIDES STANDARDS FOR ESTABLISHING AND CLASSIFYING ANY TAX PROVISIONS FOR UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: EXCESS OF LIABILITIES ASSUMED OVER ASSETS ACQUIRED -504,591. FOREIGN CURRENCY TRANSALATION LOSS -4,863. PART XII, LINE 2D - OTHER ADJUSTMENTS: OCCUPANCY ADJUSTMENT 14,861. 0 SCHOLARSHIPS 4 29657 OTHER SCHOLARSHIP FOR THREE QUALIFIED ETHIOPIAN STUDENTS. X X 0 0 0 0 0 0 0 0 0 BRADLEY SMITH PRESIDENT 186627 0 0 0 0 0 3950 0 873 0 191450 0 0 0 BRADLEY SMITH PRES. OPERATING X 455139 455139 0 1 1 455139 FORM 990, PART III, LINE 2 ON APRIL 1, 2015 PAX ACQUIRED THE LAURASIAN INSTITUTION, A 501(C)(3) ORGANIZATION. THEY PARTICIPATE IN THE SAME J-1 VISA PROGRAM ALONG WITH PAX IN ADDITION TO PARTICIPATING IN VARIOUS SHORT TERM EXCHANGE PROGRAMS PRIMARILY IN JAPAN. FORM 990, PART VI, SECTION B, LINE 11 A COPY OF THIS RETURN WILL BE REVIEWED BY MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 12C BOARD OF DIRECTORS AND MANAGEMENT MUST DISCLOSE ACTIVITIES THAT MAY PRESENT A CONFLICT OF INTEREST ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT AND TOP LEVEL MANAGEMENT IS DETERMINED BY COMPARATIVE STUDY BY REGION AND INDUSTRY AND IS REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD. COMPENSATION OF OTHER MANAGEMENT OF KEY EMPLOYEES ARE DETERMINED BY REGIONAL COMPARATIVE ANALYSIS AND BY INDUSTRY AND IS REVIEWED BY SENIOR MANAGEMENT. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST AND MAY BE VIEWED THROUGHT THE IRS WEBSITE OR QUIDESTAR.ORG FORM 990, PART IX, LINE 24E SUPERV. SITE & COMM.: PROGRAM SERVICE EXPENSES 464,275. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 464,275. PROGRAM FEES: PROGRAM SERVICE EXPENSES 353,517. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 353,517. EQUIPMENT RENTAL & MAINTENANCE: PROGRAM SERVICE EXPENSES 80,857. MANAGEMENT AND GENERAL EXPENSES 11,605. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 92,462. TELEPHONE: PROGRAM SERVICE EXPENSES 63,506. MANAGEMENT AND GENERAL EXPENSES 12,548. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 76,054. HOST FAMILY INCIDENTAL EXPENSES: PROGRAM SERVICE EXPENSES 68,369. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 68,369. POSTAGE AND DELIVERY: PROGRAM SERVICE EXPENSES 59,590. MANAGEMENT AND GENERAL EXPENSES 4,478. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 64,068. COMPLIANCE: PROGRAM SERVICE EXPENSES 25,043. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 25,043. REPAIRS AND MAINT.: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,712. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,712. PRINTING & PUBLICATIONS: PROGRAM SERVICE EXPENSES 672. MANAGEMENT AND GENERAL EXPENSES 1,400. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,072. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSLATION LOSS -4,863. EXCESS OF LIABILITIES ASSUMED OVER ASSETS ACQUIRED -504,591. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 9: EFFECTIVE APRIL 1, 2015, PAX ACQUIRED THE LAURASIAN INSTITUTION ("LAURASIAN") (ANOTHER NOT-FOR-PROFIT ORGANIZATION FOUNDED IN 1990 WITH A SIMILAR PURPOSE) IN AN EFFORT TO BROADEN ITS PROGRAM AND PARTICIPANT BASE FROM AROUND THE WORLD. THE ORGANIZATION DIFFERS FROM PAX BY PROVIDING A RANGE OF PROGRAMS, WHICH INCLUDE: INBOUND AND OUTBOUND; J-1 AND F-1; INDIVIDUAL AND GROUP; SHORT-TERM AND LONG-TERM; ELEMENTARY THROUGH UNIVERSITY LEVEL STUDENT, TEACHER AND ADULT EXCHANGE EXPERIENCES. THE RESULTING ENTITY OPERATES UNDER THE NAMES PAX LAURASIAN EXCHANGE, PAX AND LAURASIAN.