Civic Intelligence

Beverly Cove Improvement Association Inc.

990 • Fiscal year 2014 • EIN 04-6046883

May 01, 2013 to Apr 30, 2014 • Filed on Jul 24, 2014

Organization ProfileBeverlyCove.ORG
19 E Corning StreetBeverly, MA 01915

(978) 927-6095

Siviq Scores

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

Liabilities / Assets

31st percentile

0.01x

Higher debt load relative to assets than 31% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

43rd percentile

0.08x

Higher debt load relative to revenue than 43% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Net Margin

93rd percentile

64%

Higher net margin than 93% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

57th percentile

$0

Higher top officer pay than 57% of similar nonprofits.

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

2014 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2014

Asset Growth

42nd percentile

0.4%

Faster asset growth than 42% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

95th percentile

129%

Faster revenue growth than 95% of similar nonprofits.

2014 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$1,182,256

Up $4,908 (+0.4%) from 2013

Net Assets

Up

$1,170,440

Up $7,147 (+0.6%) from 2013

Liabilities

Down

$11,816

Down $2,239 (-16%) from 2013

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin93rd percentile

Revenue

Up

$140,511

Up $79,149 (+129%) from 2013

Expenses

Down

$51,122

Down $215 (-0.4%) from 2013

Net Income

Up

$89,389

Up $79,364 (+792%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth42nd percentile

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

$1.5M$1.0M$500K$0Assets 2011: $1,087,156Liabilities 2011: $18,772Net Assets 2011: $1,068,3842011Assets 2012: $1,121,929Liabilities 2012: $16,479Net Assets 2012: $1,105,4502012Assets 2013: $1,177,348Liabilities 2013: $14,055Net Assets 2013: $1,163,2932013Assets 2014: $1,182,256Liabilities 2014: $11,816Net Assets 2014: $1,170,4402014Assets 2015: $1,354,304Liabilities 2015: $173,347Net Assets 2015: $1,180,9572015Assets 2016: $1,398,680Liabilities 2016: $251,704Net Assets 2016: $1,146,9762016Assets 2017: $1,351,996Liabilities 2017: $169,752Net Assets 2017: $1,182,2442017Assets 2018: $1,364,841Liabilities 2018: $148,809Net Assets 2018: $1,216,0322018Assets 2019: $1,402,891Liabilities 2019: $130,406Net Assets 2019: $1,272,4852019Assets 2020: $1,242,569Liabilities 2020: $2,023Net Assets 2020: $1,240,5462020Assets 2021: $1,376,665Liabilities 2021: $248Net Assets 2021: $1,376,4172021Assets 2022: $1,305,927Liabilities 2022: $1,489Net Assets 2022: $1,304,4382022Assets 2023: $1,274,919Liabilities 2023: $8,661Net Assets 2023: $1,266,2582023Assets 2024: $1,363,406Liabilities 2024: $3,019Net Assets 2024: $1,360,3872024Assets 2025: $1,403,959Liabilities 2025: $199Net Assets 2025: $1,403,7602025

Highlighted filing

2014

Assets$1,182,256
Liabilities$11,816
Net Assets$1,170,440
Open 2014 Filing

Operations Trend

Revenue Growth95th percentile

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

$150K$100K$50K$0-$50KExpenses 2011: $48,4532011Revenue 2012: $55,156Expenses 2012: $33,957Net Income 2012: $21,1992012Revenue 2013: $61,362Expenses 2013: $51,337Net Income 2013: $10,0252013Revenue 2014: $140,511Expenses 2014: $51,122Net Income 2014: $89,3892014Revenue 2015: $54,137Expenses 2015: $59,025Net Income 2015: -$4,8882015Revenue 2016: $79,897Expenses 2016: $61,920Net Income 2016: $17,9772016Revenue 2017: $120,154Expenses 2017: $71,162Net Income 2017: $48,9922017Revenue 2018: $64,952Expenses 2018: $66,049Net Income 2018: -$1,0972018Revenue 2019: $66,794Expenses 2019: $77,892Net Income 2019: -$11,0982019Revenue 2020: $43,333Expenses 2020: $75,606Net Income 2020: -$32,2732020Revenue 2021: $70,345Expenses 2021: $42,417Net Income 2021: $27,9282021Revenue 2022: $73,845Expenses 2022: $56,820Net Income 2022: $17,0252022Revenue 2023: $46,871Expenses 2023: $95,568Net Income 2023: -$48,6972023Revenue 2024: $70,643Expenses 2024: $63,051Net Income 2024: $7,5922024Revenue 2025: $66,480Expenses 2025: $69,749Net Income 2025: -$3,2692025

Highlighted filing

2014

Revenue$140,511
Expenses$51,122
Net Income$89,389
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2013 to Apr 30, 2014
Signed
Jul 24, 2014
Return Version
2013v3.1
Gross Receipts
$140,511
Mission and Program Overview

Mission

To bring together neighborhood families and individuals for betterment of neighborhood

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$209,173$219,612▲ $10,439
Cash and Non-Interest-Bearing Accounts$13,134$11,434▼ $1,700
Savings and Temporary Cash Investments$1,000--
Total Assets$1,177,348$1,182,256▲ $4,908
Other Assets Total$954,041$951,210▼ $2,831
Liabilities
Unsecured Notes Loans Payable$14,055$11,816▼ $2,239
Total Liabilities$14,055$11,816▼ $2,239
Net Assets / Fund Balance
Permanently Rstr Net Assets$942,656$941,640▼ $1,016
Unrestricted Net Assets$220,637$228,800▲ $8,163
Total Net Assets Fund Balance$1,163,293$1,170,440▲ $7,147
Total Liabilities and Net Assets / Fund Balance$1,177,348$1,182,256▲ $4,908

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$140,351-$140,351
Leasehold Improvements$72,798$30,405$103,203
Equipment$6,463$38,348$44,811
Other Assets Org$951,210--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$954,041-▲ $31,889$25,500$951,210
2012$895,932-▲ $87,009$20,100$954,041
2011$870,327-▲ $55,072$21,000$895,932
2010$823,136-▲ $76,295$21,000$870,327
2009$709,502-▲ $135,552$17,000$823,136
Compensation and Service Providers
Top Officer Pay57th percentile

Board Members and Trustees

NameTitle
Ethan JohnsonPresident
Charles NossDirector
Ellen FaulknerDirector
James MacneilDirector
Jenifer WallDirector
Martha SutyakDirector
Tony PaluzziDirector
Charles WallisTrustee
Rod ForterTrustee
Walter RileyTrustee
Donna ToothakerFinancial Secretary
Corinne LippieSecretary
Roberta ChircoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,800
Program Service Revenue
$5,315
Investment Income
$114,141
Other Revenue
$17,255
Change in Net Assets
$89,389
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$51,122
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
Fees for Service Investment Mgmnt Fees-$9,142-$9,142
Depreciation Depletion-$4,703-$4,703
Insurance-$4,104-$4,104
Other Expenses$5,544$1,471-$1,471
All Other Expenses-$1,453-$1,453
Interest-$390-$390
Total Functional Expenses$5,544$45,578$0$51,122
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

“Changes to Organization By-Laws, incurring debts or payments of large capital expenses requires the approval of a majority of the voting Association members”

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

“The Form 990 is reviewed annually by the Audit Committee as part of the annual review process.”

Form 990, Part VI, Section B, Line 12A,13,14,15

“An AD Hoc committee is drafting policies and procedures for the following Conflict of Interest Policy, Whistleblower Policy, Document Retention and Destruction Policy and Policy regarding Safeguarding Exempt Status.”

Form 990, Part VI, Section C, Line 19

“Governing Documents The By-Laws are available on the Organizations Web Site BeverlyCove.ORG Financial statement and policy procedures are available upon request. Annual financial statements and budgets are submitted to members at annual meeting.”

Filing and Contact Details

Filer

EIN
04-6046883
Phone
9789276095

Signing Officer

Name
Roberta Chirco
Title
Treasurer
Signed
2014-07-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
ChristopShimkin
Formed
1921
Legal Domicile
Ma
Voting Board Members
13
Independent Board Members
13
Employees
0

Preparer

Preparer
Walter Riley
Phone
9789275189
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 5

“The endowment Trust Fund is reported at fair market value FMV and during the fiscal year there was 82,242 in unrealized losses.”

Form 990, Part XII, Line 2

“As permitted under Massachusetts rules the Corporation has extablished an Audit Committee to oversee and review the financial records and procedures of the Corporation.”

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IRS990/PYProgramServiceRevenueAmt05431
IRS990/PYRevenuesLessExpensesAmt010025
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IRS990/PYTotalRevenueAmt061362
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReconcilationRevenueExpnssAmt089389
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt017255
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
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IRS990/RevenueAmt05315
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt01000
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.03000
IRS990ScheduleD/BuildingsGrp/BookValueAmt0140351
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0140351
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt09220
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0954041
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0951210
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt031889
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt025500
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt08800
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0895932
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0954041
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt087009
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt020100
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt08467
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt0870327
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0895932
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt055072
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt021000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt08104
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt0823136
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt0870327
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt076295
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt021000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt04918
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt0709502
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt0823136
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0135552
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt017000
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/EquipmentGrp/BookValueAmt06463
IRS990ScheduleD/EquipmentGrp/DepreciationAmt038348
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt044811
IRS990ScheduleD/InclEscrowCustodialAcctLiabInd0false
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt072798
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt030405
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0103203
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0951210
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ENDOWMENT-ANNA P FOSTER TRUST FUND
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.97000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0219612
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0951210
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Changes to Organization By-Laws, incurring debts or payments of large capital expenses requires the approval of a majority of the voting Association members
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is reviewed annually by the Audit Committee as part of the annual review process.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2An AD Hoc committee is drafting policies and procedures for the following Conflict of Interest Policy, Whistleblower Policy, Document Retention and Destruction Policy and Policy regarding Safeguarding Exempt Status.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Governing Documents The By-Laws are available on the Organizations Web Site BeverlyCove.ORG Financial statement and policy procedures are available upon request. Annual financial statements and budgets are submitted to members at annual meeting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The endowment Trust Fund is reported at fair market value FMV and during the fiscal year there was 82,242 in unrealized losses.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5As permitted under Massachusetts rules the Corporation has extablished an Audit Committee to oversee and review the financial records and procedures of the Corporation.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 12a,13,14,15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part XI, Line 5
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part XII, Line 2
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0true
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01177348
IRS990/TotalAssetsEOYAmt01182256
IRS990/TotalAssetsGrp/BOYAmt01177348
IRS990/TotalAssetsGrp/EOYAmt01182256
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt03800
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt045578
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05544
IRS990/TotalFunctionalExpensesGrp/TotalAmt051122
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt014055
IRS990/TotalLiabilitiesEOYAmt011816
IRS990/TotalLiabilitiesGrp/BOYAmt014055
IRS990/TotalLiabilitiesGrp/EOYAmt011816
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01163293
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01170440
IRS990/TotalProgramServiceExpensesAmt05544
IRS990/TotalProgramServiceRevenueAmt05315
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0140511
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01177348
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01182256
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0220637
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0228800
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt014055
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt011816
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine106 Seward Ave
IRS990/USAddress/City0Beverly
IRS990/USAddress/State0MA
IRS990/USAddress/ZIPCode001915
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0BeverlyCove.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERTA CHIRCO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-07-24
ReturnHeader/Filer/BusinessName/BusinessNameLine10BEVERLY COVE IMPROVEMENT ASSOCIATIONINC
ReturnHeader/Filer/BusinessNameControlTxt0BEVE
ReturnHeader/Filer/EIN0046046883
ReturnHeader/Filer/PhoneNum09789276095
ReturnHeader/Filer/USAddress/AddressLine1019 E CORNING STREET

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,182,256
Liabilities
$11,816
Net assets
$1,170,440
Revenue
$140,511
Expenses
$51,122
Net income
$89,389
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.00$1.40$0.07$0.07$0.00
2024Detailed filing. Detailed filing data is available for this year.$1.36$0.00$1.36$0.07$0.06$0.01
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.27$0.01$1.27$0.05$0.10$0.05
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$0.00$1.30$0.07$0.06$0.02
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.38$0.00$1.38$0.07$0.04$0.03
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.24$0.00$1.24$0.04$0.08$0.03
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.13$1.27$0.07$0.08$0.01
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.36$0.15$1.22$0.06$0.07$0.00
2017Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.35$0.17$1.18$0.12$0.07$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.40$0.25$1.15$0.08$0.06$0.02
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.35$0.17$1.18$0.05$0.06$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.18$0.01$1.17$0.14$0.05$0.09
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.18$0.01$1.16$0.06$0.05$0.01
2012Summary only. Only limited summary data is available for this year.$1.12$0.02$1.11$0.06$0.03$0.02
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.09$0.02$1.07$0.05
Peer Organizations

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