The Tuition Exchange seeks a President who is both a visionary and an effective leader who will provide strategic, long-term planning, partnership development, member cultivation and care, as well as oversight of functional operations for the organization.
The Tuition Exchange, Inc., a 501(c)(3) non-profit organization, is the premier reciprocal scholarship program serving the employees of more than 700 higher education member institutions in 48 States, the District of Columbia, and seven countries. Just over 7,800 students received more than $275 million in Tuition Exchange Scholarships from the member institutions. The annual operating budget of TE is $800,000, and Investment reserves total $1,200,000. TE currently has a staff of four and maintains co-working office space in Bethesda, Maryland. The staff currently work remotely from their home offices across the country, currently in three time zones.
Reporting to a dedicated governing Board of Directors, the President will support the board in exploring and realizing new opportunities to serve higher education within the scope of the organization’s mission. The President will lead the organization in leveraging technology to improve service to the schools, increase efficiency, capture and analyze data, and enhance communication of the Tuition Exchange’s reach. The President will amplify the organization’s voice, impact, and reputation nationally and internationally. Additionally, the President will lead a team of three professional staff in offering exceptional service to member institutions and strategic partners, and in promoting access and opportunity to member students and families.
The President is responsible for the administration and management of The Tuition Exchange program including the implementation of its strategic action plan, exploring expanding partnerships and membership, development of new programs, and facilitating member engagement and retention. Currently, it is anticipated that this will be a fully remote position.
RESPONSIBILITIES
The president’s responsibilities will span a number of important areas including:
Organizational Mission and Strategy:
- Actively enhance the reputation of Tuition Exchange, representing the organization and its members in a manner which enhances visibility, understanding, and communicating appreciation for its programs, impact and benefits.
- Serve as Tuition Exchange’s primary spokesperson to the organization’s constituents: member institutions, their employees/families/students, and the greater higher education community.
- Establish and maintain relationships with related higher education organizations to strategically augment and expand membership and scholarships.
- Develop programs, communications and systems that increase the value of member participation and strengthen the member service experience for institutions, students and families.
- Lead the staff in implementing strategic plans and fulfilling the organizational mission through the management of the existing exchange program and creation of new partnerships and programs.
Strategic Planning and Board Governance:
- Provide leadership for the Tuition Exchange in a manner that supports and guides the organization’s mission, as defined by the Board of Directors.
- Provide leadership in the further development of the strategic plan and vision for the Tuition Exchange, providing support, research, data, and insights on how to leverage and explore expansion of the TE footprint.
- Communicate effectively, providing information, data, and context in a timely and accurate manner to inform and support the decisions of the Board.
- Provide quarterly and interim reports, and present updates, analysis, and cogent information annually during two annual Board meetings.
- Ensure effective systems to track progress toward strategic initiatives, and regularly evaluate program components, so as to measure successes that can be effectively communicated to the Board and other constituents.
- Proactively educate and inform the Board as appropriate and respond to requests throughout the year.
- Serve as Secretary of the Corporation and ex-officio member of the Board of Directors, attending all Board and Committee meetings.
- Oversee the organization of all Board and Committee meetings including the preparation of agendas, reports, presentations, and meeting materials.
- Report to and work closely with the Board of Directors to seek their involvement in policy decisions and in increasing the overall visibility of the organization.
Financial Performance and Viability:
- Manage resources wisely to ensure and maintain the positive financial position of the organization.
- Identify and develop revenue generating programs which support both the financial health and mission of the Tuition Exchange.
- Assure the organization’s fiscal integrity, including the preparation and submission of an annual budget and quarterly financial statements to the Board.
- Assure ongoing budget monitoring and the accuracy of all fiscal reporting, accurately reflecting the organization’s financial condition.
- Staff the Finance, Investment, and Audit Committee of the Board.
- Manage and evaluate vendor relationships including the creation of RFPs, and the solicitation and evaluation of bids, as needed.
- Select and manage the audit firm for completing annual compilation/audits, financial statements, and federal/state tax returns.
Organizational Operations
- Utilize appropriate resources to ensure an effective, efficient and appropriate organizational operation.
- Oversee the hiring, evaluation, mentorship and retention of approximately three full-time staff. Current staff include Director of Communications (membership services), Assistant Director of Communications (Liaison Officer training) and Director of Administration (finances)
- Leverage technology to enhance the collection and analysis of data, efficiency and ease of use, and enhance opportunities for collaboration and revenue generation.
- Review, approve, and act as signatory for all notes, agreements, and contracts, made and entered into on behalf of the organization.
- Lead the creation and execution of marketing plans, materials, and communication efforts to inform and support member institutions and solicit additional members.
- Assure excellent, responsive and timely service to member institutions.
- Establish, evaluate, and update employment and administrative policies and procedures for all functions and daily operations.
QUALIFICATIONS
The successful candidate should possess the following qualifications:
- A minimum of seven to ten years of experience in a senior leadership role.
- An advanced degree and a deep knowledge of higher education is strongly preferred.
- Demonstrated success in all facets of organizational leadership including the setting and achievement of strategic objectives, coaching of staff, and oversight of daily operations. Some experience operating in a fully remote setting a plus.
- Experience developing organizational partnerships and the ability to build internal systems, structures, and processes in a manner that facilitates partnership development.
- Well versed on trends facing higher education including costs and affordability dynamics for students and families, as well as enrollment challenges for member institutions.
- Past success working with a board and with the ability to cultivate board member relationships.
- Experience in budget management and reporting.
- Excellent verbal, written and interpersonal communication skills; a persuasive and passionate communicator able to articulate the nuances and benefits of the Tuition Exchange program; an experienced and engaging presenter able to connect with diverse audiences.
- Service oriented and able to discern, identify and implement approaches, processes, and programs that will provide value to member organizations.
- Action oriented with a track record of effective leadership and demonstrated outcomes in strategic planning, change management, coalition building, and team management.
- Technically savvy with an understanding of how to optimize operational efficiency, capture relevant data, and leverage technology to support sound decision making and enhance member experience.
- An unwavering commitment to quality programs and data-driven program evaluation.
- Highly analytical, with the ability to synthesize information and articulate its impact and meaning to others.
- A commitment to diversity, equity and inclusion, the ability to work effectively in collaboration with diverse groups of people, and a track record of developing and maintaining an equitable and mission oriented organizational culture.
- Marketing and public relations experience with the ability to engage a wide range of stakeholders and cultures.
- Sound decision-making skills and the ability to analyze and manage competing priorities in a complex environment.
- Ability and willingness to travel with the desire to be a visible, enthusiastic presence representing the Tuition Exchange and its member organizations.
- Strong track record of establishing highly responsive and internally sustainable customer service experiences for various constituencies.
- A creative, entrepreneurial, adaptable, and inclusive approach to planning with experience in identifying opportunities for growth, program development, and revenue enhancement.
- Self-directed with a sincere passion for the mission of the Tuition Exchange.
COMPENSATION & BENEFITS
The Tuition Exchange offers a competitive compensation package including generous benefits and a salary commensurate with qualifications and experience. This position is fully remote with travel expectations including twice yearly board meetings, participation in several conferences, and occasional visits to member and prospective member campuses. NES Search consultants can share with interested candidates information about compensation and benefits.
THE TUITION EXCHANGE
In 1947, Dean Robert R.R. Brooks of Williams College introduced multi-institution exchanges (as distinguished from one-on-one exchanges), and in 1952, forty-one colleges and universities joined together to create the Faculty Children’s Tuition Exchange. Following a 1953 study on the post-war economic status of college teachers by the Teachers Insurance and Annuity Association (TIAA), the Ford Foundation Fund for the Advancement of Education made a generous grant to support the exchange program. On May 28, 1954, Tuition Exchange (successor to the Faculty Children’s Tuition Exchange) was incorporated.
Since its inception, the strength of The Tuition Exchange arises from the diversity of its members which range from major universities and liberal arts colleges, highly competitive and moderately competitive institutions, and institutions with specialized curricula to those characterized as comprehensive institutions. Members of the consortium confer on their eligible employees the right for them and their family members to apply for a TE scholarship to study at other TE member schools.
Today, The Tuition Exchange, Inc. is a 501(c)(3) non-profit organization serving more than 700 higher education member institutions in 48 States, the District of Columbia, and seven countries. The program impacts 7,800 students receiving over $275 million in Tuition Exchange Scholarships from the member institutions.
The Tuition Exchange has an annual operating budget of $800,000, and investment reserves totaling $1,200,000. Current revenue sources include institutional membership fees and a per student/exchange participation fee. In addition, TE performs the operational functions of FACHEX for the Association of Jesuit Colleges and Universities. The organization maintains office space in Bethesda, Maryland, however, currently all employees of The Tuition Exchange work remotely across three different time zones.
The Tuition Exchange is governed by a volunteer Board of Directors made up of current and former college presidents, and other experts in enrollment management, financial aid, human resources, marketing and finances. Many of the board members hail from TE member institutions and have past or current experience in the administration of the Tuition Exchange program on an institutional level. The president of TE will serve as an ex officio board member.
The work of the organization is governed by its purpose and scope, specifically: “The Corporation shall be operated exclusively for educational purposes for the benefit of public, private nonprofit, and religious colleges and universities through the advancement and administration of reciprocal tuition scholarships for children and other dependents of faculty and other employees of educational institutions associated with The Tuition Exchange, Inc. and for related purposes similarly designed to promote the advancement of higher education.” In June of 2021 the Board of Directors approved a new strategic plan, affirming the continued commitment to providing world class customer and membership services while also growing membership and increasing student scholarship resources.
TO APPLY
NES, a higher education search firm specializing in enrollment management searches, is assisting The Tuition Exchange in its search for a President. To arrange for a confidential conversation or to nominate a colleague, please contact Catherine Capolupo (catherine.capolupo@nessearches.com), Thom Golden (thom.golden@nessearches.com), or Mary Napier (mary.napier@nessearches.com). To apply, candidates should send 1) resume, 2) a detailed letter regarding their interest in the position of President of the Tuition Exchange, and 3) contact information of five professional references. All application materials should be submitted electronically to tuitionexchange@nessearches.com. For best consideration, submit materials by October 17, 2023; the search will remain open until the position is filled. It is anticipated that the selected candidate will start in January of 2024. All applications and nominations will be considered confidential, and notice will be given before references are contacted.
For information about The Tuition Exchange, please visit tuitionexchange.org.
The Tuition Exchange, Inc. is an Equal Employment Opportunity Employer.