Civic Intelligence

Gill Terrace Retirement Apartments

990 • Fiscal year 2018 • EIN 03-0280596

Jan 01, 2018 to Dec 31, 2018 • Filed on May 09, 2019

Organization ProfileN/A
205 Hinesburg RoadSouth Burlington, VT 05403

(802) 496-9449

Siviq Scores

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

Liabilities / Assets

35th percentile

0.01x

Higher debt load relative to assets than 35% of similar nonprofits.

2018 filings • 501(c)8 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

42nd percentile

0.03x

Higher debt load relative to revenue than 42% of similar nonprofits.

2018 filings • 501(c)8 • $1M-$5M nonprofits • Source year 2018

Net Margin

93rd percentile

54%

Higher net margin than 93% of similar nonprofits.

2018 filings • 501(c)8 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • 501(c)8 • $1M-$5M nonprofits • Source year 2018

Asset Growth

58th percentile

1.6%

Faster asset growth than 58% of similar nonprofits.

2018 filings • 501(c)8 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

51st percentile

3.0%

Faster revenue growth than 51% of similar nonprofits.

2018 filings • 501(c)8 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets35th percentile

Assets

Up

$2,237,613

Up $34,293 (+1.6%) from 2017

Net Assets

Up

$2,225,810

Up $34,863 (+1.6%) from 2017

Liabilities

Down

$11,803

Down $570 (-4.6%) from 2017

Revenue And Expenses
Liabilities / Revenue42nd percentileNet Margin93rd percentile

Revenue

Up

$343,662

Up $9,987 (+3.0%) from 2017

Expenses

Down

$157,462

Down $3,834 (-2.4%) from 2017

Net Income

Up

$186,200

Up $13,821 (+8.0%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth58th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,070,432Liabilities 2011: $24,405Net Assets 2011: $1,046,0272011Assets 2012: $1,253,975Liabilities 2012: $15,595Net Assets 2012: $1,238,3802012Assets 2013: $1,487,095Liabilities 2013: $15,797Net Assets 2013: $1,471,2982013Assets 2014: $1,630,824Liabilities 2014: $15,608Net Assets 2014: $1,615,2162014Assets 2015: $1,705,245Liabilities 2015: $13,628Net Assets 2015: $1,691,6172015Assets 2016: $1,948,811Liabilities 2016: $13,693Net Assets 2016: $1,935,1182016Assets 2017: $2,203,320Liabilities 2017: $12,373Net Assets 2017: $2,190,9472017Assets 2018: $2,237,613Liabilities 2018: $11,803Net Assets 2018: $2,225,8102018Assets 2019: $2,589,262Liabilities 2019: $12,415Net Assets 2019: $2,576,8472019Assets 2020: $2,888,725Liabilities 2020: $15,627Net Assets 2020: $2,873,0982020Assets 2021: $3,267,380Liabilities 2021: $13,063Net Assets 2021: $3,254,3172021Assets 2022: $3,165,398Liabilities 2022: $21,109Net Assets 2022: $3,144,2892022Assets 2023: $3,459,934Liabilities 2023: $23,785Net Assets 2023: $3,436,1492023Assets 2024: $3,828,123Liabilities 2024: $20,919Net Assets 2024: $3,807,2042024

Highlighted filing

2018

Assets$2,237,613
Liabilities$11,803
Net Assets$2,225,810
Open 2018 Filing

Operations Trend

Revenue Growth51st percentile

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

$600K$400K$200K$0Expenses 2011: $157,0982011Expenses 2012: $165,8972012Revenue 2013: $313,647Expenses 2013: $175,109Net Income 2013: $138,5382013Revenue 2014: $361,028Expenses 2014: $191,202Net Income 2014: $169,8262014Revenue 2015: $351,211Expenses 2015: $182,577Net Income 2015: $168,6342015Revenue 2016: $298,314Expenses 2016: $169,365Net Income 2016: $128,9492016Revenue 2017: $333,675Expenses 2017: $161,296Net Income 2017: $172,3792017Revenue 2018: $343,662Expenses 2018: $157,462Net Income 2018: $186,2002018Revenue 2019: $306,300Expenses 2019: $166,597Net Income 2019: $139,7032019Revenue 2020: $332,241Expenses 2020: $195,114Net Income 2020: $137,1272020Revenue 2021: $427,696Expenses 2021: $155,356Net Income 2021: $272,3402021Revenue 2022: $342,494Expenses 2022: $178,262Net Income 2022: $164,2322022Revenue 2023: $492,505Expenses 2023: $209,458Net Income 2023: $283,0472023Revenue 2024: $463,418Expenses 2024: $262,553Net Income 2024: $200,8652024

Highlighted filing

2018

Revenue$343,662
Expenses$157,462
Net Income$186,200
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
May 9, 2019
Return Version
2018v3.1
Gross Receipts
$343,662
Mission and Program Overview

Mission

It is our intention and purpose to provide and maintain adequate and worthy housing for the elderly.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,201,939$1,116,748▼ $85,191
Cash and Non-Interest-Bearing Accounts$581,316$715,859▲ $134,543
Land, Buildings, and Equipment, Net$226,189$213,112▼ $13,077
Other Notes and Loans Receivable, Net$122,377$122,377→ $0
Accounts Receivable$52,571$52,106▼ $465
Savings and Temporary Cash Investments$10,293$10,227▼ $66
Prepaid Expenses and Deferred Charges$8,635$7,184▼ $1,451
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$2,203,320$2,237,613▲ $34,293
Other Assets Total-$0-
Liabilities
Other Liabilities$10,293$10,227▼ $66
Accounts Payable and Accrued Expenses$2,080$1,576▼ $504
Total Liabilities$12,373$11,803▼ $570
Net Assets / Fund Balance
Unrestricted Net Assets$2,190,947$2,225,810▲ $34,863
Total Net Assets Fund Balance$2,190,947$2,225,810▲ $34,863
Total Liabilities and Net Assets / Fund Balance$2,203,320$2,237,613▲ $34,293

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$19,739$909,610$929,349
Leasehold Improvements$141,362$30,075$171,437
Land$51,150-$51,150
Other Land Buildings$861$17,582$18,443
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

NameTitle
Everett AllenChairman
Edward W SpauldingVice Chairman
Alice BennettMember
Charles KettlesMember
David JohnsonMember
Elizabeth CourchaineMember
Janice GordonMember
Roxie AllenMember
Sandra GeorgeMember
Nora-ellen SpauldingSecretary/ TREA
Revenue and Support

Revenue Composition

Contributions and Grants
$204,943
Program Service Revenue
$101,441
Investment Income
$37,278
Other Revenue
$0
Change in Net Assets
$186,200

Audited Revenue Reconciliation

Revenue per Audited Statements
$343,662
Revenue Not Reported on Form 990
$-151,337
Total Revenue per Audited Statements
$192,325
Total Revenue per Form 990
$343,662
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$157,462
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$69,990--$69,990
Fees for Services Management$24,480--$24,480
Depreciation Depletion$13,077--$13,077
Fees for Services Accounting-$5,675-$5,675
Other Expenses$81--$81
Total Functional Expenses$151,787$5,675$0$157,462

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$157,462
Total Expenses per Audited Statements$157,462
Total Expenses per Form 990$157,462
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$10,227
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“Edward spaulding and nora-ellen spaulding are husband and wife.”

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Manage the property on a day to day basis and report to the board.”

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Board members listed in part vii section a”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“The board elects the members to the board.”

Form 990, Part VI, Line 7B: Describe Decisions of Governing Body Approval by Members or Shareholders

“The board approves based on majority vote.”

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

“Written minutes are taken at each board meeting.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The organization's governing documents and financial statements are located at the chairman's home office and a copy is located at the management agent's office. These documents are available to the general public upon request. There is no written conflict of interest policy. However, when there is a vote and a board member knows they have a conflict, they abstain from the vote and it is documented in the minutes of the meeting.”

Filing and Contact Details

Filer

Filer Name
Gill Terrace Retirement Apartments
EIN
03-0280596
Address
205 HINESBURG ROAD, SOUTH BURLINGTON, VT 05403

Signing Officer

Name
Everett Allen
Title
Chairman
Signed
2019-05-09
Discuss with paid preparer
Yes

Organization Details

Formed
1977
Legal Domicile
Vt
Voting Board Members
10
Independent Board Members
8
Employees
0

Preparer

Firm
McCormack Guyette & Associates PC
Address
66 Grove Street, Rutland, VT 05701
Preparer
Kevin S Markowski CPA
Phone
8027753221
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IRS990/OtherExpensesGrp/ProgramServicesAmt117961
IRS990/OtherExpensesGrp/ProgramServicesAmt22888
IRS990/OtherExpensesGrp/ProgramServicesAmt381
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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0122377
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08635
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt07184
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0EVERETT ALLEN
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0LAUNDRY INCOME
IRS990/ProgramServiceRevenueGrp/Desc1MISCELLANEOUS
IRS990/ProgramServiceRevenueGrp/Desc2RENT INCOME - TENANTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01744
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11235
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt298462
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11235
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt298462
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IRS990/PYInvestmentIncomeAmt034203
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0161296
IRS990/PYProgramServiceRevenueAmt0105773
IRS990/PYRevenuesLessExpensesAmt0172379
IRS990/PYTotalExpensesAmt0161296
IRS990/PYTotalRevenueAmt0333675
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IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0186200
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt010293
IRS990/SavingsAndTempCashInvstGrp/EOYAmt010227
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt019739
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0909610
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0929349
IRS990ScheduleD/ExpensesSubtotalAmt0157462
IRS990ScheduleD/LandGrp/BookValueAmt051150
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt051150
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0141362
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt030075
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0171437
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0-151337
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0861
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt017582
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt018443
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010227
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt0-151337
IRS990ScheduleD/RevenueSubtotalAmt0343662
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0213112
IRS990ScheduleD/TotalExpensesPerForm990Amt0157462
IRS990ScheduleD/TotalLiabilityAmt010227
IRS990ScheduleD/TotalRevenuePerForm990Amt0343662
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0192325
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0157462
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EDWARD SPAULDING AND NORA-ELLEN SPAULDING ARE HUSBAND AND WIFE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MANAGE THE PROPERTY ON A DAY TO DAY BASIS AND REPORT TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBERS LISTED IN PART VII SECTION A
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD ELECTS THE MEMBERS TO THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD APPROVES BASED ON MAJORITY VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5WRITTEN MINUTES ARE TAKEN AT EACH BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6No review was or will be conducted.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE LOCATED AT THE CHAIRMAN'S HOME OFFICE AND A COPY IS LOCATED AT THE MANAGEMENT AGENT'S OFFICE. THESE DOCUMENTS ARE AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. THERE IS NO WRITTEN CONFLICT OF INTEREST POLICY. HOWEVER, WHEN THERE IS A VOTE AND A BOARD MEMBER KNOWS THEY HAVE A CONFLICT, THEY ABSTAIN FROM THE VOTE AND IT IS DOCUMENTED IN THE MINUTES OF THE MEETING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalCompGreaterThan150KInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt05675
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0151787
IRS990/TotalFunctionalExpensesGrp/TotalAmt0157462
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012373
IRS990/TotalLiabilitiesEOYAmt011803
IRS990/TotalLiabilitiesGrp/BOYAmt012373
IRS990/TotalLiabilitiesGrp/EOYAmt011803
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IRS990/TotalProgramServiceExpensesAmt0151055
IRS990/TotalProgramServiceRevenueAmt0101441
IRS990/TotalRevenueGrp/ExclusionAmt037278
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0101441
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0343662
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02203320
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02237613
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt02190947
IRS990/UnrestrictedNetAssetsGrp/EOYAmt02225810
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0205 HINESBURG ROAD
IRS990/USAddress/CityNm0SOUTH BURLINGTON
IRS990/USAddress/StateAbbreviationCd0VT
IRS990/USAddress/ZIPCd005403
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,237,613
Liabilities
$11,803
Net assets
$2,225,810
Revenue
$343,662
Expenses
$157,462
Net income
$186,200
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.83$0.02$3.81$0.46$0.26$0.20
2023Detailed filing. Detailed filing data is available for this year.$3.46$0.02$3.44$0.49$0.21$0.28
2022Detailed filing. Detailed filing data is available for this year.$3.17$0.02$3.14$0.34$0.18$0.16
2021Detailed filing. Detailed filing data is available for this year.$3.27$0.01$3.25$0.43$0.16$0.27
2020Detailed filing. Detailed filing data is available for this year.$2.89$0.02$2.87$0.33$0.20$0.14
2019Detailed filing. Detailed filing data is available for this year.$2.59$0.01$2.58$0.31$0.17$0.14
2018Detailed filing. Detailed filing data is available for this year.$2.24$0.01$2.23$0.34$0.16$0.19
2017Detailed filing. Detailed filing data is available for this year.$2.20$0.01$2.19$0.33$0.16$0.17
2016Detailed filing. Detailed filing data is available for this year.$1.95$0.01$1.94$0.30$0.17$0.13
2015Detailed filing. Detailed filing data is available for this year.$1.71$0.01$1.69$0.35$0.18$0.17
2014Detailed filing. Detailed filing data is available for this year.$1.63$0.02$1.62$0.36$0.19$0.17
2013Detailed filing. Detailed filing data is available for this year.$1.49$0.02$1.47$0.31$0.18$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$0.02$1.24$0.17
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.07$0.02$1.05$0.16