Civic Intelligence

Peterborough Retirement Community at Upland Farm Inc.

990 • Fiscal year 2014 • EIN 02-0446675

Jan 01, 2014 to Dec 31, 2014 • Filed on Apr 27, 2015

150 Rivermead RoadPeterborough, NH 03458

(603) 924-0062

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

1.24x

Higher debt load relative to assets than 97% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Liabilities / Revenue

94th percentile

5.46x

Higher debt load relative to revenue than 94% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Net Margin

11th percentile

-9.7%

Higher net margin than 11% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Top Officer Pay

29th percentile

$224,576

Higher top officer pay than 29% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2014

Asset Growth

14th percentile

-3.3%

Faster asset growth than 14% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Revenue Growth

79th percentile

21%

Faster revenue growth than 79% of similar nonprofits.

2014 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2013 to 2014

Assets

Down

$75,456,969

Down $2,601,340 (-3.3%) from 2013

Net Assets

Down

-$18,198,910

Down $2,670,267 (-17%) from 2013

Liabilities

Up

$93,655,879

Up $68,927 (+0.1%) from 2013

Revenue

Up

$17,159,883

Up $3,019,401 (+21%) from 2013

Expenses

Up

$18,824,353

Up $2,209,780 (+13%) from 2013

Net Income

Up

-$1,664,470

Up $809,621 (+33%) from 2013

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0-$50MAssets 2010: $44,192,330Liabilities 2010: $51,500,729Net Assets 2010: -$7,308,3992010Assets 2011: $75,562,374Liabilities 2011: $81,579,783Net Assets 2011: -$6,017,4092011Assets 2012: $81,965,814Liabilities 2012: $95,345,864Net Assets 2012: -$13,380,0502012Assets 2013: $78,058,309Liabilities 2013: $93,586,952Net Assets 2013: -$15,528,6432013Assets 2014: $75,456,969Liabilities 2014: $93,655,879Net Assets 2014: -$18,198,9102014Assets 2015: $75,233,893Liabilities 2015: $95,177,977Net Assets 2015: -$19,944,0842015Assets 2016: $76,958,886Liabilities 2016: $96,906,547Net Assets 2016: -$19,947,6612016Assets 2017: $77,763,145Liabilities 2017: $97,251,861Net Assets 2017: -$19,488,7162017Assets 2018: $87,809,247Liabilities 2018: $110,102,366Net Assets 2018: -$22,293,1192018Assets 2019: $99,342,175Liabilities 2019: $121,866,133Net Assets 2019: -$22,523,9582019Assets 2020: $103,652,506Liabilities 2020: $129,127,720Net Assets 2020: -$25,475,2142020Assets 2021: $101,660,266Liabilities 2021: $123,872,815Net Assets 2021: -$22,212,5492021Assets 2022: $99,988,081Liabilities 2022: $120,830,200Net Assets 2022: -$20,842,1192022Assets 2023: $100,247,664Liabilities 2023: $119,823,649Net Assets 2023: -$19,575,9852023Assets 2024: $106,134,862Liabilities 2024: $121,845,919Net Assets 2024: -$15,711,0572024Assets 2025: $115,277,809Liabilities 2025: $122,780,498Net Assets 2025: -$7,502,6892025

Highlighted filing

2014

Assets$75,456,969
Liabilities$93,655,879
Net Assets-$18,198,910

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2010: $11,916,2222010Expenses 2011: $12,177,8232011Expenses 2012: $12,515,7492012Revenue 2013: $14,140,482Expenses 2013: $16,614,573Net Income 2013: -$2,474,0912013Revenue 2014: $17,159,883Expenses 2014: $18,824,353Net Income 2014: -$1,664,4702014Revenue 2015: $17,910,212Expenses 2015: $19,363,710Net Income 2015: -$1,453,4982015Revenue 2016: $19,197,151Expenses 2016: $19,756,925Net Income 2016: -$559,7742016Revenue 2017: $21,110,430Expenses 2017: $20,232,526Net Income 2017: $877,9042017Revenue 2018: $20,319,165Expenses 2018: $21,417,623Net Income 2018: -$1,098,4582018Revenue 2019: $21,976,620Expenses 2019: $22,917,440Net Income 2019: -$940,8202019Revenue 2020: $25,539,148Expenses 2020: $25,443,674Net Income 2020: $95,4742020Revenue 2021: $26,693,338Expenses 2021: $26,013,219Net Income 2021: $680,1192021Revenue 2022: $26,258,279Expenses 2022: $26,819,634Net Income 2022: -$561,3552022Revenue 2023: $26,767,133Expenses 2023: $27,265,331Net Income 2023: -$498,1982023Revenue 2024: $30,848,468Expenses 2024: $28,447,269Net Income 2024: $2,401,1992024Revenue 2025: $38,049,817Expenses 2025: $30,936,331Net Income 2025: $7,113,4862025

Highlighted filing

2014

Revenue$17,159,883
Expenses$18,824,353
Net Income-$1,664,470
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Apr 27, 2015
Return Version
2014v5.0
Gross Receipts
$25,570,875
Mission and Program Overview

Mission

Rivermead is a progressive not-for-profit continuing care retirement community that advocates for an enriched lifestyle with cultural and educational opportunities. Continued on schedule "o".we continuously strive to provide high-quality, holistic lifecare programs, and healthcare services in a financially responsible manner. In serving this commitment, we seek to provide a positive and supportive work environment.

Ccrc committed to providing excellent housing and health care services to its residents.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$53,057,005$51,465,760▼ $1,591,245
Investments in Publicly Traded Securities$17,441,810$17,954,510▲ $512,700
Savings and Temporary Cash Investments$5,414,530$4,164,888▼ $1,249,642
Prepaid Expenses and Deferred Charges$337,814$400,095▲ $62,281
Accounts Receivable$351,890$83,125▼ $268,765
Inventories for Sale or Use$26,320$22,735▼ $3,585
Cash and Non-Interest-Bearing Accounts$1,000$1,000→ $0
Total Assets$78,058,309$75,456,969▼ $2,601,340
Other Assets Total$1,427,940$1,364,856▼ $63,084
Liabilities
Deferred Revenue$53,967,694$57,967,222▲ $3,999,528
Tax Exempt Bond Liabilities$34,965,420$34,003,024▼ $962,396
Accounts Payable and Accrued Expenses$4,514,136$1,360,667▼ $3,153,469
Mortgage Notes Payable Secured by Investment Property-$210,636-
Other Liabilities$139,702$114,330▼ $25,372
Total Liabilities$93,586,952$93,655,879▲ $68,927
Net Assets / Fund Balance
Temporarily Rstr Net Assets$183,106$266,172▲ $83,066
Permanently Rstr Net Assets$210,243$223,318▲ $13,075
Unrestricted Net Assets$-15,921,992$-18,688,400▼ $2,766,408
Total Net Assets Fund Balance$-15,528,643$-18,198,910▼ $2,670,267
Total Liabilities and Net Assets / Fund Balance$78,058,309$75,456,969▼ $2,601,340

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$41,028,724$15,323,514$56,352,238
Equipment$5,161,176$4,836,051$9,997,227
Other Land Buildings$3,010,285$3,958,326$6,968,611
Land$2,265,575-$2,265,575

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2014$393,350$95,740▲ $13,050-$489,490
2013$351,534$27,380▲ $16,164-$393,350
2012$340,790-▲ $14,323-$351,534
2011$331,708$8,441▲ $9,239-$340,790
2010$324,916$10,696--$331,708
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
William H James JrChief Executive OfficerFT$180,568$44,008$224,576
Karyn MinerDirector of Health SvcsFT$129,758$26,691$156,449
Jan EatonDirector of MarketingFT$127,866$20,646$148,512
Douglas SharpDirector of FacilitiesFT$113,976$27,082$141,058
M Karen Wirein Thru 82014Chief Financial OfficerFT$106,115$17,363$123,478
Michael HeneghanInterim Chief Financial OfficerFT$47,156-$47,156
Martin J Conley IiiChief Financial Officer-beg. 12/2014FT$6,769-$6,769

Highest Paid Contractors

ContractorServicesLocationCompensation
Morrison Management SpecialistDining ServicesPO BOX 102289, Atlanta, GA 30368$490,484
Flooring Concepts INCConstruction Services255 FROST HILL ROAD, Marlborough, NH 03455$332,090
Hunter North Associates LLCSecurity ServicesPO BOX 56346, Atlanta, GA 30343$232,055
W Rindge Builders LtdConstruction Services350 RIVER ST, Jaffrey, NH 03452$195,692
Hutter ConstructionConstruction Services810 TURNPIKE RD, New Ipswich, NH 03071$187,276
Revenue and Support

Revenue Composition

Contributions and Grants
$122,747
Program Service Revenue
$15,823,703
Investment Income
$869,086
Other Revenue
$344,347
All Other Contributions
$122,747
Change in Net Assets
$-1,664,470

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$40,064Quoted Market Value
Total Noncash Contributions1$40,064-

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,159,883
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-407,571
Total Revenue per Audited Statements
$16,752,312
Total Revenue per Form 990
$17,159,883
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,328,224
Salaries, Compensation, and Employee Benefits$8,403,642
Grants and Similar Amounts Paid$92,487
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$5,446,207$885,730-$6,331,937
Depreciation Depletion$2,732,387--$2,732,387
Occupancy$2,132,412--$2,132,412
Interest$1,941,102--$1,941,102
Other Employee Benefits$860,476$182,201-$1,042,677
Fees for Services Other$806,785$40,387-$847,172
Office Expenses$295,868$196,229-$492,097
Payroll Taxes$372,213$81,043-$453,256
Current Officers, Directors, Trustees, and Key Employees-$401,979-$401,979
All Other Expenses$25,074$184,706-$209,780
Insurance$193,780--$193,780
Pension Plan Contributions$142,123$31,670-$173,793
Fees for Services Accounting-$107,924-$107,924
Grants to Domestic Individuals$89,887--$89,887
Information Technology-$74,923-$74,923
Other Expenses$72,418$165,690-$72,418
Fees for Service Investment Mgmnt Fees-$63,287-$63,287
Travel$40,754$16,910-$57,664
Fees for Services Legal-$34,474-$34,474
Advertising-$19,335-$19,335
Grants to Domestic Orgs$2,600--$2,600
Fees for Services Lobbying-$1,424-$1,424
Total Functional Expenses$16,336,441$2,487,912$0$18,824,353

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$18,824,353
Expenses per Audited Statements$18,671,179
Total Expenses per Audited Statements$18,671,179
Expenses Not Reported on Financial Statements$153,174
Other Expense Adjustments$153,174
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Gift Annuities Payable$114,330

Bond Issues

BondIssuerIssuedIssue PricePurpose
ANew Hampshire Health and Educaton Facilities Authority2011-12-15$21,644,378EXPANSION OF FACILITY
BNew Hampshire Health and Educaton Facilities Authority2013-12-23$13,550,000Refunding issue of series 1998 bonds

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$21,670,000-$727,000$654,617
B$13,550,000--$228,202

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11

The 990 will be reviewed by the audit committee in depth. Upon recommendation for approval by the audit committee, the 990 will be provided to the entire board for their review and approval. Contact information for the ceo, cfo, audit committee and 990 preparer (baker tilly) will be provided to all board members should they have questions or concerns.

Form 990, Part VI, Section B, Line 12C

Each trustee and officer of rivermead must be ever cognizant and aware of possible conflict of interest situations. Any such possible conflict must be fully disclosed in writing to the board of trustees, and will be considered by the board for discussion, approval, or any other appropriate action in accordance with the requirements of applicable law, and only if the matter serves the best interests of rivermead. Rivermead identifies possible conflicts of interest by having all trustees and officers complete conflict of interest questionnaires annually. The ceo is responsible for ensuring all questionnaires are completed. The board of trustees reviews each potential conflict of interest. Board members with a conflict are required to abstain from voting on the matter. New hampshire and federal laws regarding disclosure of conflicts of interest are followed.

Form 990, Part VI, Section B, Line 15

Compensation of the ceo is determined by the board of trustees using data from the leadingage national salary survey and from form 990 data from comparable regional organizations. The ceo's annual performance review is also considered in determining his annual compensation package. This process is documented in the executive committee minutes. Compensation of other management staff is determined by the ceo and hr director. A compensation study was conducted in 2014. This study resulted in the development of wage grades for each position within the organization. This tool will be updated periodically and is an integral part of determining compensation for new hires and adjustments to compensation for current employees.

Form 990, Part VI, Section C, Line 19

Audited financial statements are included in rivermead's disclosure statement and upon request. The organization's governing documents and conflict of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
Peterborough Retirement Community at
EIN
02-0446675
Phone
6039240062
Address
150 RIVERMEAD ROAD, PETERBOROUGH, NH 03458
Doing Business As
Rivermead

Signing Officer

Name
Martin J Conley Iii
Title
CFO
Phone
6039240062
Signed
2015-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William H James Jr
Formed
1991
Legal Domicile
Nh
Voting Board Members
17
Independent Board Members
16
Employees
367
Volunteers
25

Preparer

Firm
Baker Tilly Virchow Krause Llp
Address
1650 MARKET STREET SUITE 4500, PHILADELPHIA, PA 19103
Preparer
Julius Green CPA
Phone
2159720701
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Change in value of split-interest agreements 13,075.

Financial Statement Notes

PART IV, LINE 1B:

Rivermead maintains a resident trust account for residents in its assisted living and skilled nursing.

PART V, LINE 4:

Temporarily restricted net assets are those whose use by rivermead has been limited by donors to specific purposes. Temporarily restricted net assets are available for the following purposes: nurse education, financial assistance and community projects, employee assistance, and other uses. Permanently restricted net assets have been restricted by donors to be maintained by rivermead in perpetuity, the income from which is expendable to support financial assistance and community projects.

PART X, LINE 2:

Rivermead accounts for uncertainty in income taxes using a recognition threshold of more-likely-than not to be sustained upon examination by the appropriate taxing authority. Measurement of the tax uncertainty occurs if the recognition threshold is met. Management determined that there were no tax uncertainties that met the recognition threshold in 2014 or 2013. Rivermead's business organization exempt income tax returns for the years prior to 2011 are no longer subject to examination by the internal revenue service.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in value of split-interest agreements 13,075. Assistance to residents -89,887. Investment fees -63,287.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Assistance to residents 89,887. Investment fees 63,287.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0INDEPENDENT LIVING:RIVERMEAD HAS 154 INDEPENDENT LIVING RESIDENCES AVAILABLE FOR INDIVIDUALS AGED 62 AND OLDER. THESE RESIDENCES ARE AVAILABLE UNDER A LIFECARE CONTRACT, WHICH GUARANTEES RESIDENTS ACCESS TO ASSISTED LIVING, MEMORY SUPPORT AND SKILLED NURSING CARE WITH NO SIGNIFICANT CHANGE IN THEIR MONTHLY FEES AS THEY MOVE BETWEEN LEVELS OF CARE. RIVERMEAD'S POLICY IS TO NEVER TERMINATE A RESIDENCY AGREEMENT SOLELY BASED UPON A RESIDENT'S INABILITY TO PAY HIS OR HER MONTHLY FEE IN FULL. RIVERMEAD PROVIDED OVER $89,000 IN CHARITABLE ASSISTANCE TO RESIDENTS IN 2014.HEALTH CARE SERVICES: RIVERMEAD HAS 49 ASSISTED LIVING RESIDENCES, 17 MEMORY SUPPORT RESIDENCES, 27 SKILLED NURSING RESIDENCES AND A HOME HEALTH PROGRAM.PROGRAMS & AMENITIES:RIVERMEAD IS COMMITTED TO PROVIDING QUALITY PROGRAMS, SERVICES AND AMENITIES TO ENRICH RESIDENTS' LIVES INCLUDING: EXCEPTIONAL DINING EXPERIENCES, THERAPY SERVICES, HOUSEKEEPING, MAINTENANCE, A WELLNESS CENTER, AN INDOOR POOL, TRANSPORTATION, TWO LIBRARIES, A MOVIE THEATER, A WOODWORKING SHOP, A GREEN HOUSE, AN ART GALLERY, WALKING TRAILS, CROQUET AND BOCCE COURTS AND RAISED GARDEN BEDS.
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IRS990/Form990PartVIISectionAGrp/PersonNm18M KAREN WIREIN THRU 82014
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt18CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt19INTERIM CHIEF FINANCIAL OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt20CHIEF FINANCIAL OFFICER-BEG. 12/2014
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR OF MARKETING
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR OF HEALTH SVCS
IRS990/Form990PartVIISectionAGrp/TitleTxt23DIRECTOR OF FACILITIES
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IRS990/FormerOfcrEmployeesListedInd00
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IRS990/MissionDesc0RIVERMEAD IS A PROGRESSIVE NOT-FOR-PROFIT CONTINUING CARE RETIREMENT COMMUNITY THAT ADVOCATES FOR AN ENRICHED LIFESTYLE WITH CULTURAL AND EDUCATIONAL OPPORTUNITIES. WE CONTINUOUSLY STRIVE TO PROVIDE HIGH-QUALITY, HOLISTIC LIFECARE PROGRAMS AND HEALTHCARE SERVICES IN A FINANCIALLY RESPONSIBLE MANNER. IN SERVING THIS COMMITMENT, WE SEEK TO PROVIDE A POSITIVE AND SUPPORTIVE WORK ENVIRONMENT.
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IRS990/OtherExpensesGrp/Desc0FOOD
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IRS990/OtherExpensesGrp/Desc2RESIDENT ENRICHMENT
IRS990/OtherExpensesGrp/Desc3MEDICAL SUPPLIES
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IRS990/OtherExpensesGrp/TotalAmt1299866
IRS990/OtherExpensesGrp/TotalAmt2245801
IRS990/OtherExpensesGrp/TotalAmt372418

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$115$123$7.50$38.0$30.9$7.11
2024Detailed filing. Detailed filing data is available for this year.$106$122$15.7$30.8$28.4$2.40
2023Detailed filing. Detailed filing data is available for this year.$100$120$19.6$26.8$27.3$0.50
2022Detailed filing. Detailed filing data is available for this year.$100.0$121$20.8$26.3$26.8$0.56
2021Detailed filing. Detailed filing data is available for this year.$102$124$22.2$26.7$26.0$0.68
2020Detailed filing. Detailed filing data is available for this year.$104$129$25.5$25.5$25.4$0.10
2019Detailed filing. Detailed filing data is available for this year.$99.3$122$22.5$22.0$22.9$0.94
2018Detailed filing. Detailed filing data is available for this year.$87.8$110$22.3$20.3$21.4$1.10
2017Detailed filing. Detailed filing data is available for this year.$77.8$97.3$19.5$21.1$20.2$0.88
2016Detailed filing. Detailed filing data is available for this year.$77.0$96.9$19.9$19.2$19.8$0.56
2015Detailed filing. Detailed filing data is available for this year.$75.2$95.2$19.9$17.9$19.4$1.45
2014Detailed filing. Detailed filing data is available for this year.$75.5$93.7$18.2$17.2$18.8$1.66
2013Detailed filing. Detailed filing data is available for this year.$78.1$93.6$15.5$14.1$16.6$2.47
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$82.0$95.3$13.4$12.5
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$75.6$81.6$6.02$12.2
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$44.2$51.5$7.31$11.9
Peer Organizations

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