Civic Intelligence

Southwest Boston Community Development Corporation

990 • Fiscal year 2017 • EIN 04-3562853

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 02, 2018

11 Fairmount Avenue 101Hyde Park, MA 02136

(617) 364-7300

Siviq Scores

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

Liabilities / Assets

92nd percentile

1.02x

Higher debt load relative to assets than 92% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

97th percentile

8.93x

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

14th percentile

-18%

Higher net margin than 14% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

58th percentile

$77,788

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 20.6% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

99th percentile

508%

Faster asset growth than 99% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

90th percentile

73%

Faster revenue growth than 90% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Assets

Up

$3,292,100

Up $2,750,958 (+508%) from 2016

Net Assets

Down

-$73,553

Down $68,342 (-1311%) from 2016

Liabilities

Up

$3,365,653

Up $2,819,300 (+516%) from 2016

Revenue

Up

$377,000

Up $158,843 (+73%) from 2016

Expenses

Up

$445,342

Up $200,128 (+82%) from 2016

Net Income

Down

-$68,342

Down $41,285 (-153%) from 2016

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0-$10MAssets 2011: $214,206Liabilities 2011: $128,655Net Assets 2011: $85,5512011Assets 2012: $217,413Liabilities 2012: $191,933Net Assets 2012: $25,4802012Assets 2013: $251,327Liabilities 2013: $271,925Net Assets 2013: -$20,5982013Assets 2014: $434,441Liabilities 2014: $414,489Net Assets 2014: $19,9522014Assets 2015: $493,187Liabilities 2015: $471,341Net Assets 2015: $21,8462015Assets 2016: $541,142Liabilities 2016: $546,353Net Assets 2016: -$5,2112016Assets 2017: $3,292,100Liabilities 2017: $3,365,653Net Assets 2017: -$73,5532017Assets 2018: $2,339,174Liabilities 2018: $2,385,477Net Assets 2018: -$46,3032018Assets 2019: $2,372,523Liabilities 2019: $2,414,222Net Assets 2019: -$41,6992019Assets 2020: $5,970,451Liabilities 2020: $6,060,155Net Assets 2020: -$89,7042020Assets 2021: $15,349,545Liabilities 2021: $15,492,694Net Assets 2021: -$143,1492021Assets 2022: $21,987,853Liabilities 2022: $22,832,499Net Assets 2022: -$844,6462022Assets 2023: $21,744,540Liabilities 2023: $23,147,817Net Assets 2023: -$1,403,2772023

Highlighted filing

2017

Assets$3,292,100
Liabilities$3,365,653
Net Assets-$73,553

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $303,579Expenses 2011: $290,533Net Income 2011: $13,0462011Revenue 2012: $283,536Expenses 2012: $343,607Net Income 2012: -$60,0712012Revenue 2013: $200,745Expenses 2013: $251,773Net Income 2013: -$51,0282013Revenue 2014: $250,477Expenses 2014: $213,040Net Income 2014: $37,4372014Revenue 2015: $258,353Expenses 2015: $259,331Net Income 2015: -$9782015Revenue 2016: $218,157Expenses 2016: $245,214Net Income 2016: -$27,0572016Revenue 2017: $377,000Expenses 2017: $445,342Net Income 2017: -$68,3422017Revenue 2018: $658,713Expenses 2018: $636,533Net Income 2018: $22,1802018Revenue 2019: $530,837Expenses 2019: $526,233Net Income 2019: $4,6042019Revenue 2020: $603,255Expenses 2020: $651,260Net Income 2020: -$48,0052020Revenue 2021: $1,363,909Expenses 2021: $1,612,181Net Income 2021: -$248,2722021Revenue 2022: $1,602,991Expenses 2022: $2,304,488Net Income 2022: -$701,4972022Revenue 2023: $1,941,688Expenses 2023: $2,500,319Net Income 2023: -$558,6312023

Highlighted filing

2017

Revenue$377,000
Expenses$445,342
Net Income-$68,342
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 2, 2018
Return Version
2016v3.0
Gross Receipts
$379,447
Mission and Program Overview

Mission

Southwest boston community development corporation (swbcdc) works to build and sustain a thriving, economically and racially diverse community in hyde park and roslindale. We work to prevent displacement, create and preserve affordable housing, strengthen the commercial base of the neighborhoods, ensure access to good transit and green spaces, and develop local leaders who use their voice to influence the issues that affect them.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$1,895,688▲ $1,895,688
Savings and Temporary Cash Investments-$109,546-
Loans From Officers Directors$40,161$46,161▲ $6,000
Accounts Receivable$21,104$26,413▲ $5,309
Cash and Non-Interest-Bearing Accounts$4,350$12,471▲ $8,121
Prepaid Expenses and Deferred Charges$700$5,205▲ $4,505
Total Assets$541,142$3,292,100▲ $2,750,958
Other Assets Total$514,988$1,242,777▲ $727,789
Liabilities
Tax Exempt Bond Liabilities-$1,728,972-
Unsecured Notes Loans Payable$426,593$761,307▲ $334,714
Other Liabilities$0$700,000▲ $700,000
Accounts Payable and Accrued Expenses$79,599$129,213▲ $49,614
Total Liabilities$546,353$3,365,653▲ $2,819,300
Net Assets / Fund Balance
Unrestricted Net Assets$-5,211$-73,553▼ $68,342
Total Net Assets Fund Balance$-5,211$-73,553▼ $68,342
Total Liabilities and Net Assets / Fund Balance$541,142$3,292,100▲ $2,750,958

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,839,497$46,750-
Equipment$8,796$366-
Leasehold Improvements$47,395$600-
Other Assets Org$1,242,777--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Erica SchwarzExecutive DirectorFT$77,788$77,788

Board Members and Trustees

NameTitle
Mimi TurchinetzChair
Diana KellyVice Chair
Adriana CilloBoard Member
Bob VanceBoard Member
Daniel FarnkoffBoard Member
La Toya DouglasBoard Member
Mike McdonoughBoard Member
Patricia MillerBoard Member
Sarah LamitieBoard Member
Sharon HintonBoard Member
Victoria RiosBoard Member
Marcia ThornhillClerk
Ellen CaraccioloTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$195,116
Program Service Revenue
$180,009
Investment Income
$0
Other Revenue
$1,875
All Other Contributions
$129,616
Change in Net Assets
$-68,342

Audited Revenue Reconciliation

Revenue per Audited Statements
$379,447
Revenue Not Reported on Financial Statements
$-2,447
Revenue Not Reported on Form 990
$105,736
Other Revenue Adjustments
$-2,447
Total Revenue per Audited Statements
$485,183
Total Revenue per Form 990
$377,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$262,172
Salaries, Compensation, and Employee Benefits$183,170
Total Fundraising Expense$30,893
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$136,604$2,587$1,792$140,983
Current Officers, Directors, Trustees, and Key Employees$37,963$23,662$19,978$81,603
Other Salaries and Wages$79,091-$1,852$80,943
Depreciation Depletion$44,116--$44,116
Fees for Services Accounting$18,872$2,479$2,585$23,936
Fees for Services Other$20,470$899$838$22,207
Payroll Taxes$11,330$2,584$2,442$16,356
Office Expenses$9,943$1,781$934$12,658
Other Expenses$5,205$1,145$261$6,611
Other Employee Benefits$4,268--$4,268
Insurance$589$1,305$80$1,974
Total Functional Expenses$377,475$36,974$30,893$445,342

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$553,525
Expenses per Audited Statements$445,342
Total Expenses per Form 990$445,342
Expenses Not Reported on Form 990$108,183
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$2,447
Fundraising Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$20,879-$464-
Total Events$20,879-$2,447$-2,447
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$40,161$46,161▲ $6,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$700,000

Bond Issues

BondIssuerIssuedIssue PricePurpose
AMassachusetts Development Finance Agency2016-08-17$1,754,000CONSTRUCTION

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$1,754,000$1,652,442$25,028$101,558

Bond Financing Compliance

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

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Swbcdc has members that serve on the board of directors.

Form 990, Part VI, Section A, Line 7A

Swbcdc has members that serve on the board of directors and have the power to elect or appoint one or more members of the board.

Form 990, Part VI, Section B, Line 11B

The form 990 and massachusetts form pc will be made available to the finance committee members for review before submission.

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

Swbcdc requires each officer, board member and key employee to read the conflict of interest policy and update swbcdc if there are any potential conflicts of interest. All subsequent board motions considered through the course of the year are done so with the conflict of interest policies in mind.

Form 990, Part VI, Section B, Line 15

The contracted executive director's compensation was determined through a negotiated process at the time of his hiring. The process for determining compensation of swbcdc's other key employees is based on comparing salary data at another comparable cdc and adjusting accordingly if deemed necessary.

Form 990, Part VI, Section C, Line 19

The cdc makes its governing documents, conflict of interest policies and financial statements available to the public upon request.

FOMR 990, PART VI, SECTION B, LINE 11:

The form 990 and massachsuetts form pc will be made available to the finance committee members for review before submission.

Filing and Contact Details

Filer

Filer Name
Southwest Boston Community Development
EIN
04-3562853
Phone
6173647300
Address
11 FAIRMOUNT AVENUE 101, HYDE PARK, MA 02136

Signing Officer

Name
Erica Schwarz
Title
Executive Director
Phone
6173647300
Signed
2018-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erica Schwarz
Formed
2001
Legal Domicile
Ma
Voting Board Members
13
Independent Board Members
13
Employees
3
Volunteers
48

Preparer

Firm
Alexander Aronson Finning & Co Pc
Address
50 WASHINGTON STREET, WESTBOROUGH, MA 01581
Preparer
Sorie Kaba CPA
Phone
5083669100
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The cdc accounts for uncertainty in income taxes in accordance with asc topic, income taxes. This standard clarifies the accounting for uncertainty in tax positions and prescribes a recognition threshold and measurement attribute for the consolidating financial statements regarding a tax position taken or expected to be taken in a tax return. The cdc has determined that there are no uncertain tax positions which qualify for either recognition or disclosure in the consolidating financial statements at june 30, 2017. The cdc's information returns are subject to examination by the federal and state jurisdictions.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Fundraising event expenses included in revenue

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Fundraising event expenses included in revenue -2,447.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising event expenses included in revenue 2,447.

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IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
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IRS990/MissionDesc0SOUTHWEST BOSTON COMMUNITY DEVELOPMENT CORPORATION (SWBCDC) WORKS TO BUILD AND SUSTAIN A THRIVING, ECONOMICALLY AND RACIALLY DIVERSE COMMUNITY IN HYDE PARK AND ROSLINDALE. WE WORK TO PREVENT DISPLACEMENT, CREATE AND PRESERVE AFFORDABLE HOUSING, STRENGTHEN THE COMMERCIAL BASE OF THE NEIGHBORHOODS, ENSURE ACCESS TO GOOD TRANSIT AND GREEN SPACES, AND DEVELOP LOCAL LEADERS WHO USE THEIR VOICE TO INFLUENCE THE ISSUES THAT AFFECT THEM.
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt120710
IRS990/ProgSrvcAccomActy2Grp/Desc0ENVIRONMENTAL STEWARDSHIP AND YOUTH EMPLOYMENTSWBCDC RUNS THE HYDE PARK GREEN TEAM. THROUGH THIS PROGRAM, THE ORGANIZATION HIRES BETWEEN 16 AND 20 YOUTH, AGES 15 - 23 TO PRESERVE AND RESTORE CITY-OWNED URBAN WILD SITES IN HYDE PARK. THIS PROGRAM IS CONDUCTED IN PARTNERSHIP WITH THE BOSTON PARKS DEPARTMENT, WHICH RELIES ON THE GREEN TEAM TO SUPPORT ITS GOALS FOR ITS NATURAL SITES IN HYDE PARK AND THE BOSTON DEPARTMENT OF YOUTH EMPLOYMENT AND ENGAGEMENT. THE PROGRAM ALSO INCLUDES TRAINING ON JOB READINESS, LEADERSHIP SKILLS, COMMUNITY OUTREACH, FINANCIAL LITERACY AND URBAN AGRICULTURE, LANDSCAPING, ENVIRONMENTAL STEWARDSHIP, WOODS SAFETY, AND JOBS IN THE ENVIRONMENTAL FIELD. THE PROGRAM RUNS EACH SUMMER.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt045785
IRS990/ProgSrvcAccomActy3Grp/Desc0COMMUNITY ORGANIZING AND PLANNINGSWBCDC ORGANIZES LOCAL RESIDENTS TO DEVELOP THEIR OWN LEADERSHIPSKILLS, IDENTIFY ISSUES THEY CARE ABOUT AND THE SOLUTIONS THEY NEED, AND TAKE ACTION ON THOSE ISSUES IN ORDER TO IMPROVE THEIR COMMUNITY. ISSUES IDENTIFIED BY SWBCDC RESIDENTS AS PRIORITIES INCLUDE AFFORDABLE HOUSING, ECONOMIC AND CULTURAL DEVELOPMENT, NEGLECTED OPEN SPACE, DEVELOPMENT OF A PEDESTRIAN GREENWAY, TRANSIT EQUITY, AND ACCESS AND INCLUSION OF ALL RESIDENTS IN CIVIC LIFE AND LOCAL DECISION MAKING. SWBCDC IS A ALSO A MEMBER OF THE FAIRMOUNT INDIGO NETWORK AND THE FAIRMOUNT INDIGO CDC COLLABORATIVE IN ORDER TO IMPROVE SERVICE ON THE FAIRMOUNT INDIGO LINE, MAKE THE NEIGHBORHOODS ALONG THE LINE MORE ACCESSIBLE AND AFFORDABLE, INCREASE THE CONNECTION OF EMPLOYEES TO JOBS ALONG THE LINE, AND PREVENT DISPLACEMENT ALONG THE LINE. SWBCDC'S COMMUNITY ORGANIZING WORK IS CARRIED OUT VIA ITS RESIDENT-DRIVEN ORGANIZING COMMITTEE, POHWER (PEOPLE OF HYDE PARK WANTING EQUAL REPRESENTATION): FOR AN INCLUSIONARY VISION OF HYDE PARK. SINCE FORMING IN LATE 2016, POHWER HAS WON A COMMITMENT FROM THE STATE'S DEPARTMENT OF CONSERVATION AND RECREATION TO REDEVELOP A LONG VACANT FORMER PARK BASED ON THE COMMUNITY'S GOALS AND DESIGNS. THE COMMITTEE HAS ALSO ADVANCED OTHER GOALS RELATING TO ECONOMIC DEVELOPMENT, NEPONSET RIVER POLLUTION AND HAS STARTED TURNING ITS FOCUS TO DEVELOPMENT AND HOUSING AFFORDABILITY ISSUES. OVER 100 RESIDENTS HAVE PARTICIPATED IN COMMUNITY ORGANIZING EVENTS TO DATE INCLUDING 12 RESIDENTS TO DATE WHO ARE MOST ACTIVE IN LEADING THE WORK THROUGH THE POWER COMMITTEE. AN ADDITIONAL 220 RESIDENTS HAVE DEMONSTRATED INTEREST IN PARTICIPATING IN THE FUTURE.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt091524
IRS990/ProgSrvcAccomActyOtherGrp/Desc0875-889 ALH LLC (ALH)SWBCDC IS THE SOLE MEMBER OF ALH. ALH WAS ESTABLISHED TO OWN, DEVELOP AND MANAGE REAL ESTATE. ALH OPERATES EIGHT UNITS OF AFFORDABLE HOUSING IN ROSLINDALE, MASSACHUSETTS.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1RESOURCE CONNECTION PROGRAMDURING FISCAL YEAR 2017 SWBCDC INITIATED ITS RESOURCE CONNECTION PROGRAM. THE PROGRAM HAS THREE COMPONENTS: 1) THE JOB REFERRAL NETWORK - SWBCDC OFFERS THIS PROGRAM DUE TO OUR MEMBERSHIP IN THE FAIRMOUNT INDIGO CDC COLLABORATIVE. SWBCDC ASSISTS RESIDENTS IN JOB SEARCHES, PARTICULARLY WITH COMPANIES ALONG THE FAIRMOUNT LINE WITH WHOM OUR CDC NETWORK HAS DEVELOPED STRONG RELATIONSHIPS. 2) HOUSING ASSISTANCE AND REFERRALS FOR HOUSEHOLDS FACING URGENT HOUSING PROBLEMS AND 3) REFERRAL TO A RANGE OF VETTED SERVICES THAT MAY BE OF NEED TO LOCAL FAMILIES. THE PROGRAM SEES APPROXIMATELY 50 HOUSEHOLDS A YEAR. THIS NUMBER IS EXPECTED TO INCREASE AS MARKETING EXPANDS DURING FISCAL YEAR 2018.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt0191857
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt0162841
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0215942
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IRS990/PYGrantsAndSimilarPaidAmt00
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IRS990/PYOtherExpensesAmt089429
IRS990/PYOtherRevenueAmt00
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IRS990/PYRevenuesLessExpensesAmt0-27057
IRS990/PYSalariesCompEmpBnftPaidAmt0155785
IRS990/PYTotalExpensesAmt0245214
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0218157
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0-68342
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd01
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
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IRS990/RevenueAmt021490
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0109546
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0237470
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IRS990ScheduleA/PublicSupportCY170Pct00.72550
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO RELATED PARTIES

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$21.7$23.1$1.40$1.94$2.50$0.56
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.0$22.8$0.84$1.60$2.30$0.70
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.3$15.5$0.14$1.36$1.61$0.25
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.97$6.06$0.09$0.60$0.65$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.37$2.41$0.04$0.53$0.53$0.00
2018Detailed filing. Detailed filing data is available for this year.$2.34$2.39$0.05$0.66$0.64$0.02
2017Detailed filing. Detailed filing data is available for this year.$3.29$3.37$0.07$0.38$0.45$0.07
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.54$0.55$0.01$0.22$0.25$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.49$0.47$0.02$0.26$0.26$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.43$0.41$0.02$0.25$0.21$0.04
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.27$0.02$0.20$0.25$0.05
2012Summary only. Only limited summary data is available for this year.$0.22$0.19$0.03$0.28$0.34$0.06
2011Summary only. Only limited summary data is available for this year.$0.21$0.13$0.09$0.30$0.29$0.01
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2017 filings • 501(c)3 • $1M-$5M nonprofits