Civic Intelligence

Rainbow Chimes Inc

990 • Fiscal year 2018 • EIN 11-2694198

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 17, 2019

Organization Profilewww.rainbowchimes.org

View Organization Page

320 Broadway Greenlawn RdHuntington, NY 11743

(631) 427-6300

Siviq Scores

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

Liabilities / Assets

95th percentile

1.34x

Higher debt load relative to assets than 95% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

83rd percentile

0.76x

Higher debt load relative to revenue than 83% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

16th percentile

-16%

Higher net margin than 16% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

45th percentile

$52,000

Higher top officer pay than 45% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

2nd percentile

-39%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

13th percentile

-23%

Faster revenue growth than 13% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets95th percentile

Assets

Down

$616,163

Down $397,355 (-39%) from 2017

Net Assets

Down

-$210,519

Down $497,085 (-173%) from 2017

Liabilities

Up

$826,682

Up $99,730 (+14%) from 2017

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin16th percentile

Revenue

Down

$1,092,016

Down $329,168 (-23%) from 2017

Expenses

Down

$1,261,939

Down $183,063 (-13%) from 2017

Net Income

Down

-$169,923

Down $146,105 (-613%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$1.5M$1.0M$500K$0-$500K-$1.0MAssets 2010: $422,942Liabilities 2010: $388,828Net Assets 2010: $34,1142010Assets 2011: $327,376Liabilities 2011: $446,950Net Assets 2011: -$119,5742011Assets 2012: $887,873Liabilities 2012: $436,653Net Assets 2012: $451,2202012Assets 2013: $419,274Liabilities 2013: $488,363Net Assets 2013: -$69,0892013Assets 2014: $1,229,202Liabilities 2014: $558,625Net Assets 2014: $670,5772014Assets 2015: $766,487Liabilities 2015: $678,868Net Assets 2015: $87,6192015Assets 2016: $415,244Liabilities 2016: $734,257Net Assets 2016: -$319,0132016Assets 2017: $1,013,518Liabilities 2017: $726,952Net Assets 2017: $286,5662017Assets 2018: $616,163Liabilities 2018: $826,682Net Assets 2018: -$210,5192018Assets 2019: $57,745Liabilities 2019: $619,333Net Assets 2019: -$561,5882019Assets 2020: $0Liabilities 2020: $566,024Net Assets 2020: -$566,0242020

Highlighted filing

2018

Assets$616,163
Liabilities$826,682
Net Assets-$210,519
Open 2018 Filing

Operations Trend

Revenue Growth13th percentile

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

$2.0M$1.0M$0-$1.0MExpenses 2010: $1,975,1042010Expenses 2011: $1,956,7392011Expenses 2012: $1,836,3662012Revenue 2013: $1,701,855Expenses 2013: $1,839,664Net Income 2013: -$137,8092013Revenue 2014: $1,861,511Expenses 2014: $1,901,845Net Income 2014: -$40,3342014Revenue 2015: $1,666,058Expenses 2015: $1,851,767Net Income 2015: -$185,7092015Revenue 2016: $1,398,581Expenses 2016: $1,507,447Net Income 2016: -$108,8662016Revenue 2017: $1,421,184Expenses 2017: $1,445,002Net Income 2017: -$23,8182017Revenue 2018: $1,092,016Expenses 2018: $1,261,939Net Income 2018: -$169,9232018Revenue 2019: $922,035Expenses 2019: $896,896Net Income 2019: $25,1392019Revenue 2020: $3,615Expenses 2020: $8,050Net Income 2020: -$4,4352020

Highlighted filing

2018

Revenue$1,092,016
Expenses$1,261,939
Net Income-$169,923
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 17, 2019
Return Version
2018v3.1
Gross Receipts
$1,092,016
Mission and Program Overview

Mission

To provide children with early

To provide children with early educational skills and the ability to develop into positive and productive adult leaders.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$817,233$490,340▼ $326,893
Loans From Officers Directors$235,206$326,333▲ $91,127
Accounts Receivable$155,644$99,885▼ $55,759
Land, Buildings, and Equipment, Net$31,162$19,980▼ $11,182
Prepaid Expenses and Deferred Charges$2,038$4,988▲ $2,950
Cash and Non-Interest-Bearing Accounts$6,290$-181▼ $6,471
Total Assets$1,013,518$616,163▼ $397,355
Other Assets Total$1,151$1,151→ $0
Liabilities
Unsecured Notes Loans Payable$78,694$248,296▲ $169,602
Accounts Payable and Accrued Expenses$337,718$211,984▼ $125,734
Deferred Revenue$73,453$40,069▼ $33,384
Mortgage Notes Payable Secured by Investment Property$1,881$0▼ $1,881
Total Liabilities$726,952$826,682▲ $99,730
Net Assets / Fund Balance
Temporarily Rstr Net Assets$629,483--
Unrestricted Net Assets$-342,917$-210,519▲ $132,398
Total Net Assets Fund Balance$286,566$-210,519▼ $497,085
Total Liabilities and Net Assets / Fund Balance$1,013,518$616,163▼ $397,355

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$19,026$270,892$289,918
Other Land Buildings$954$156,971$157,925
Leasehold Improvements$0$21,263$21,263
Buildings$0$0$0
Land$0-$0
Compensation and Service Providers
Top Officer Pay45th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Kathleen RocheExecutive DirectorFT$52,000$52,000

Board Members and Trustees

NameTitle
Michael B RocheMember At Large
Joan DrosinSecretary
Larry DrosinTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$28,253
Program Service Revenue
$1,063,763
Investment Income
$0
Other Revenue
$0
All Other Contributions
$19,753
Change in Net Assets
$-169,923
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$715,535
Other Expenses$546,404
Total Fundraising Expense$614
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$526,418$15,911$0$542,329
Occupancy$175,919$27,243$0$203,162
Interest$6,104$66,046$0$72,150
Other Employee Benefits$53,944$11,553$0$65,497
Payroll Taxes$49,817$5,892$0$55,709
Current Officers, Directors, Trustees, and Key Employees$0$52,000$0$52,000
Insurance$37,044$5,737$0$42,781
Advertising$33,296$508$614$34,418
Fees for Services Other$33,535$0$0$33,535
Fees for Services Accounting$0$24,483$0$24,483
Information Technology$10,456$13,562$0$24,018
Other Expenses$16,479$1,213$0$17,692
Office Expenses$11,094$5,681$0$16,775
Depreciation Depletion$9,069$2,126$0$11,195
All Other Expenses$2,584$0$0$2,584
Travel$178$721$0$899
Fees for Services Legal$296$0$0$296
Total Functional Expenses$1,020,793$240,532$614$1,261,939
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
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$235,206$326,333▲ $91,127
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Rainbow Chimes Inc
EIN
11-2694198
Phone
6314276300
Address
320 Broadway Greenlawn Rd, Huntington, NY 11743

Signing Officer

Name
Kathleen Roche
Title
Executive Director
Phone
6314276300
Signed
2019-07-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Roche
Formed
1983
Legal Domicile
Ny
Voting Board Members
3
Independent Board Members
3
Employees
46
Volunteers
0

Preparer

Firm
The Ledger Group
Address
248 ROUTE 25A Suite 7, SETAUKET, NY 11733-2954
Preparer
Leigh J Gifford
Phone
6312465292
Supplemental Narrative

Additional Explanations

Pt VI, Line 2

“Kathleen Roche, Michael B. Roche. Larry and Joan Drosin have a family relationship.”

Pt VI, Line 11B

“The Form 990 is prepared by an independent CPA firm. It is reviewed by the Executive Director and Board members.”

Pt VI, Line 12C

“The organization requires its board members to conduct business according to the highest ethical standards of conduct. Business dealings that appear to create a conflict between the best interests of Rainbow Chimes, Inc. and any individual board members are dealt with immediately. Board members must disclose any possible conflicts to the executive committee of the board so that the committee may assess and prevent potential conflicts from arising. If conflicts of interest are deemed to exist, board members with such potential or actual conflict are barred from participating in deliberations and/or voting with regard to the affected transaction(s).”

Pt VI, Line 19

“The governing documents, conflict of interest policy and financial statements are made available to the public upon request.”

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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/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt0579179
IRS990/PYProgramServiceRevenueAmt01314871
IRS990/PYRevenuesLessExpensesAmt0-23818
IRS990/PYSalariesCompEmpBnftPaidAmt0865823
IRS990/PYTotalExpensesAmt01445002
IRS990/PYTotalRevenueAmt01421184
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-169923
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt01063763
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt00
IRS990ScheduleD/BuildingsGrp/DepreciationAmt00
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/BookValueAmt019026
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0270892
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0289918
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt021263
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt021263
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0954
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0156971
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0157925
IRS990ScheduleD/TotalBookValueLandBuildingsAmt019980
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The organization annually publicizes its racially nondiscriminatory policy in newspapers of general circulation that serve all racial segments of the community. The organization annually pblicizes its racially nondiscriminatory policy in newspapers of general circulation that serve all racial segments of the community
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1Receive funds from Suffolk County DSS and CACFP
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Line 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Line 6b
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt041275
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt1193932
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt20
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt391126
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd3true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd3false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2Working Capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3working capital
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt041275
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt1100000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt250000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt395048
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Kathleen Roche
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1Kathleen Roche
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2Michael J Roche
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3Kathleen Roche
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Exec Dir
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Exec Dir
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2Member
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3Exec Dir
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd3true
IRS990ScheduleL/TotalBalanceDueAmt0326333
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Kathleen Roche, Michael B. Roche. Larry and Joan Drosin have a family relationship.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Form 990 is prepared by an independent CPA firm. It is reviewed by the Executive Director and Board members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The organization requires its board members to conduct business according to the highest ethical standards of conduct. Business dealings that appear to create a conflict between the best interests of Rainbow Chimes, Inc. and any individual board members are dealt with immediately. Board members must disclose any possible conflicts to the executive committee of the board so that the committee may assess and prevent potential conflicts from arising. If conflicts of interest are deemed to exist, board members with such potential or actual conflict are barred from participating in deliberations and/or voting with regard to the affected transaction(s).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The governing documents, conflict of interest policy and financial statements are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 19
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0629483
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01013518
IRS990/TotalAssetsEOYAmt0616163
IRS990/TotalAssetsGrp/BOYAmt01013518
IRS990/TotalAssetsGrp/EOYAmt0616163
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt028253
IRS990/TotalEmployeeCnt046
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0614

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$616,163
Liabilities
$826,682
Net assets
-$210,519
Revenue
$1,092,016
Expenses
$1,261,939
Net income
-$169,923
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2020Detailed filing. Detailed filing data is available for this year.$0.00$0.57$0.57$0.00$0.01$0.00
2019Detailed filing. Detailed filing data is available for this year.$0.06$0.62$0.56$0.92$0.90$0.03
2018Detailed filing. Detailed filing data is available for this year.$0.62$0.83$0.21$1.09$1.26$0.17
2017Detailed filing. Detailed filing data is available for this year.$1.01$0.73$0.29$1.42$1.45$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.42$0.73$0.32$1.40$1.51$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.77$0.68$0.09$1.67$1.85$0.19
2014Detailed filing. Detailed filing data is available for this year.$1.23$0.56$0.67$1.86$1.90$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.42$0.49$0.07$1.70$1.84$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.89$0.44$0.45$1.84
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.45$0.12$1.96
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.42$0.39$0.03$1.98