Liabilities / Assets
12th percentile
Higher debt load relative to assets than 12% of similar nonprofits.
990 • Fiscal year 2015 • EIN 13-4086800
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
Liabilities / Assets
12th percentile
Higher debt load relative to assets than 12% of similar nonprofits.
Liabilities / Revenue
9th percentile
Higher debt load relative to revenue than 9% of similar nonprofits.
Net Margin
97th percentile
Higher net margin than 97% of similar nonprofits.
Top Officer Pay
61st percentile
Higher top officer pay than 61% of similar nonprofits.
Top officer pay equals 0.8% of source-year revenue.
Asset Growth
95th percentile
Faster asset growth than 95% of similar nonprofits.
Revenue Growth
97th percentile
Faster revenue growth than 97% of similar nonprofits.
Assets
Up$208,958,921
Up $60,529,895 (+41%) from 2014
Net Assets
Up$203,590,134
Up $59,706,075 (+41%) from 2014
Liabilities
Up$5,368,787
Up $823,820 (+18%) from 2014
Revenue
Up$78,646,857
Up $41,738,342 (+113%) from 2014
Expenses
Down$18,940,782
Down $1,072,494 (-5.4%) from 2014
Net Income
Up$59,706,075
Up $42,810,836 (+253%) from 2014
Part American palace, part industrial shed, Park Avenue Armory supports unconventional works in the performing and visual arts that cannot be fully realized in a traditional proscenium theater, concert hall, or white wall gallery. With its soaring, 55,000 square foot Drill Hall and its period rooms by Gilded Age designers, the Armory enables artists to create, students to explore, and wide audiences to experience epic, adventurous work that cannot be done elsewhere in New York. The Armory has been lauded as "a playground for artists of outsize imaginations" (Wall Street Journal) with The New York Times declaring "few cultural institutions have been as adept at pushing the cultural FOMO button, triggering that 'fear of missing out' that New Yorkers hate"Park Avenue Armory.has arrived as the most important new cultural institution in New York City." As with non-traditional programming, arts education has found a special niche at the Armory, using its unique assets - a magical ruine
To restore, renovate and revitalize the historic park avenue aromory a contemporary arts insitituion.
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $116,167,287 | $120,829,815 | ▲ $4,662,528 |
| Investments in Publicly Traded Securities | $0 | $65,027,270 | ▲ $65,027,270 |
| Savings and Temporary Cash Investments | $7,252,711 | $12,402,801 | ▲ $5,150,090 |
| Pledges and Grants Receivable | $23,720,659 | $9,321,437 | ▼ $14,399,222 |
| Accounts Receivable | $299,468 | $398,897 | ▲ $99,429 |
| Prepaid Expenses and Deferred Charges | $214,309 | $203,149 | ▼ $11,160 |
| Cash and Non-Interest-Bearing Accounts | $0 | $0 | → $0 |
| Other Notes and Loans Receivable, Net | $0 | $0 | → $0 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | $0 | → $0 |
| Investments Program Related | $0 | $0 | → $0 |
| Intangible Assets | $0 | $0 | → $0 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Total Assets | $148,429,026 | $208,958,921 | ▲ $60,529,895 |
| Other Assets Total | $774,592 | $775,552 | ▲ $960 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $2,593,236 | $2,741,250 | ▲ $148,014 |
| Deferred Revenue | $1,951,731 | $2,627,537 | ▲ $675,806 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Other Liabilities | $0 | $0 | → $0 |
| Escrow Account Liability | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $4,544,967 | $5,368,787 | ▲ $823,820 |
| Net Assets / Fund Balance | |||
| Unrestricted Net Assets | $119,546,172 | $124,239,678 | ▲ $4,693,506 |
| Permanently Rstr Net Assets | $0 | $65,000,000 | ▲ $65,000,000 |
| Temporarily Rstr Net Assets | $24,337,887 | $14,350,456 | ▼ $9,987,431 |
| Total Net Assets Fund Balance | $143,884,059 | $203,590,134 | ▲ $59,706,075 |
| Total Liabilities and Net Assets / Fund Balance | $148,429,026 | $208,958,921 | ▲ $60,529,895 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Leasehold Improvements | $84,573,383 | $12,356,031 | $96,929,414 |
| Other Land Buildings | $36,193,745 | $141,667 | $36,335,412 |
| Equipment | $62,687 | $466,943 | $529,630 |
| Period | Beginning | Contrib. | Gain/Loss | Other Uses | End |
|---|---|---|---|---|---|
| 2015 | - | $65,000,000 | ▲ $27,270 | - | $65,027,270 |
| Name | Title | Full / Part Time | Base | Other | Total |
|---|---|---|---|---|---|
| Rebecca Robertson | President | FT | $451,166 | $155,668 | $606,834 |
| Peter Gee | COO/CFO | FT | $253,687 | $45,095 | $298,782 |
| Melanie Forman | Chief Development Officer | FT | $260,000 | $1,081 | $261,081 |
| Lissa Frenkel | Managing Director | FT | $174,963 | $29,595 | $204,558 |
| Ted Vasquez | Finance Director (to 11/2015) | FT | $139,680 | $17,182 | $156,862 |
| Michael Lonergan | Producing Director | FT | $150,000 | $5,310 | $155,310 |
| Kristen Reoch | Secretary/Director Design & Constr | FT | $131,983 | $21,310 | $153,293 |
| Wayne Lowery | Security Director | FT | $130,328 | $10,424 | $140,752 |
| Jay Dority | Facilities Director | FT | $94,838 | $24,038 | $118,876 |
| Name | Title |
|---|---|
| Adam R Flatto | Co-chairman |
| Elihu Rose | Co-chairman |
| Angela E Thompson | Director |
| Carolyn S Brody | Director |
| Cora Cahan | Director |
| David Fox | Director |
| David S Moross | Director |
| Deborah C Van Eck | Director |
| Emanuel Stern | Director |
| Emma Bloomberg | Director |
| Genie H Rice | Director |
| Gwendolyn Norton | Director |
| Heidi Mcwilliams | Director |
| Helene Comfort | Director |
| Janet C Ross | Director |
| Jeffrey Silverman | Director |
| Joan Steinberg | Director |
| Joel I Picket | Director |
| Joel Press | Director |
| Karl Katz | Director |
| Ken Kuchin | Director |
| Major General Edward G Klein | Director |
| Marina Abramovic | Director |
| Marjorie L Hart | Director |
| Michael Field | Director |
| Pablo Legorreta | Director |
| Paul Cronson | Director |
| Peter Clive Charrington | Director |
| Ralph Lemon | Director |
| Sanford B Ehrenkranz | Director |
| Wendy Belzberg | Director |
| Amanda Jt Riegel | Director (from 08/2015) |
| Mary T Kush | Director (from 11/2015) |
| Kent L Barwick | Director (to 10/2015) |
| Harrison M Bains | Treasurer |
| Contractor | Services | Location | Compensation |
|---|---|---|---|
| Tishman Construction Corp Of New Yo | Construction Fees | 666 FIFTH AVENUE, New York, NY 10103, Uk | $5,000,553 |
| Platt Byard Dovell White Architects | Architectural Fees | 20 WEST 22ND STREET, New York, NY 10010 | $994,509 |
| R Mark Adams INC | Restoration Fees | 90 SILVER SPRINGS DRIVE, Lempster, NH 03605 | $987,443 |
| Manchester International Festival | Commissioning Fees | 570 LEXINGTON AVENUE, New York, NY 10022 | $473,330 |
| Levien Company INC | Project Management | - | $415,958 |
| Contribution Type | Contribution Count | Reported Amount | Valuation Method |
|---|---|---|---|
| Securities Publicly Traded | 14 | $342,767 | Fair Market Value (FMV) |
| Total Noncash Contributions | 14 | $342,767 | - |
| Line Item | Amount |
|---|---|
| Other Expenses | $13,401,450 |
| Salaries, Compensation, and Employee Benefits | $5,304,736 |
| Total Fundraising Expense | $2,300,773 |
| Professional Fundraising Fees | $234,596 |
| Grants and Similar Amounts Paid | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Depreciation Depletion | $4,719,017 | $104,014 | $37,426 | $4,860,457 |
| Other Salaries and Wages | $2,512,097 | $390,397 | $619,527 | $3,522,021 |
| Fees for Services Other | $1,552,702 | $50,962 | $221,846 | $1,825,510 |
| Office Expenses | $712,606 | $30,049 | $198,773 | $941,428 |
| Current Officers, Directors, Trustees, and Key Employees | $508,366 | $145,842 | $271,250 | $925,458 |
| Occupancy | $799,519 | $17,623 | $6,341 | $823,483 |
| Advertising | $655,626 | - | $91,091 | $746,717 |
| Travel | $564,935 | $5,832 | $33,862 | $604,629 |
| Insurance | $460,377 | $3,241 | $4,767 | $468,385 |
| Other Employee Benefits | $295,230 | $62,471 | $55,133 | $412,834 |
| Payroll Taxes | $202,339 | $35,050 | $59,723 | $297,112 |
| Fees for Services Professional Fundraising | - | - | $234,596 | $234,596 |
| Pension Plan Contributions | $101,019 | $23,858 | $22,434 | $147,311 |
| Fees for Services Legal | $57,980 | - | - | $57,980 |
| Fees for Services Accounting | - | $46,000 | - | $46,000 |
| Other Expenses | $6,876 | - | $4,386 | $11,262 |
| Royalties | $1,449 | - | - | $1,449 |
| Total Functional Expenses | $15,724,670 | $915,339 | $2,300,773 | $18,940,782 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $18,940,782 |
| Total Expenses per Audited Statements | $18,940,782 |
| Total Expenses per Form 990 | $18,940,782 |
| Region | Activity | Services | Offices | Employees | Spending |
|---|---|---|---|---|---|
| Europe (Including Iceland and Greenland) | Program Services | Travel and Related | - | - | $32,111 |
| East Asia and the Pacific | Program Services | Travel and Related | - | - | $20,287 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $234,596 |
| Fundraising Direct Expenses | $232,008 |
| Fundraising Gross Income | $232,008 |
| Event | Gross Receipts | Gross Revenue | Direct Expenses | Net Income |
|---|---|---|---|---|
| Gala | $1,882,811 | $232,008 | $60,500 | $171,508 |
| Total Events | $1,882,811 | $232,008 | $232,008 | - |
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
“A draft form 990, prepared by eisneramper llp based on information provided by management, is submitted to the cfo and ceo/president for review. Upon approval, the draft form 990 is provided to the audit committee of the board for review, comment and approval for filing with the internal revenue service. Upon the audit committee's approval, the form 990 is provided to the full board, prior to its filing.”
“All board members and key employees are required on an annual basis to complete a conflict of interest disclosure form. Any pontential conflict reported in the disclosure forms are reviewed by the finance/audit committee of the board. Any conflict that becomes known during the year shall be reported to the finance/audit committee. The evaluation and resolution policies outlined in the conflict of interest policy shall be applied.”
“Compensation of the ceo/president is subject to review and approval by the executive committee of the board. The co-chairmen obtain compensation information from independent sources which serves as the basis for compensation offered to the executive position identified above. Other senior employee compensation is reviewed and approved by the president/executive producer.”
“The 2015 Drill Hall Season featured five multi-disciplinary commissions in their world or U.S. premieres. The season opened with an electrifying new dance commission staged by visionary director Peter Sellars and flex pioneer Reggie (Regg Roc) Gray. Other new commissions and premieres have included: visual artist Philippe Parrenos largest installation in the US to date, with music performed by Mikhail Rudy; a spectacular collaboration between the Royal Ballets Resident Choreographer Wayne McGregor, visual artist Olafur Eliasson, and Mercury Prize-winning producer and composer Jamie xx inspired by the book Tree of Codes by Jonathan Safron Foer; a new work by innovative performance artist/musician Laurie Anderson examining storytelling and tele-presence on the subject of Guantanamo; and a production of Bachs Goldberg Variations performed by one of the "world's most brilliant young pianists" (The Telegraph) Igor Levit, with staging developed by the "presiding deity of performance art," Marina Abramovic (TIME Magazine). FLEXN: Characterized by pausing, snapping, gliding, bone breaking, hat tricks, animation, and contortion, flex is a form of street dance that has evolved from the Jamaican bruk-up found in dance halls and reggae clubs in Brooklyn. This electrifying phenomenon was showcased in a new project commissioned and produced by the Armory that confronts issues of social injustice, with the dancers exploring personal narratives through their own unique movement vocabulary in post-modern dance. Created in the era of unrest following rulings on Michael Brown in Ferguson, Missouri, and Eric Garner in New York City, this powerful new work was staged by visionary director Peter Sellars and flex pioneer Reggie (Regg Roc) Gray in collaboration with a crew of 21 flex dancers from the very neighborhoods where the movement first took shape. Performing both as individuals and in groups to choreography created by the ensemble itself, the dancers utilize their breathtakingly beautiful movement to tell deeply human and sometimes heart-wrenching stories that address these troubling issues of our time. H{N)Y P N (Y} OSIS: In the past two decades, Philippe Parreno has almost single-handedly reshaped the very notion of what it means to experience art by turning the dynamics of a show into an evolving, situational process, exploring its possibilities as a singular, coherent object rather than as a collection of individual works. In his largest installation in the U.S. to date, Parreno continued his interrogations into the radical redefinition of the exhibition ritual at the Armory, in one of the few spaces in the world in which such an epic experience could occur. The monumental interior of the Wade Thompson Drill Hall was animated with 26 marquee sculptures to form an alle of light and sound, five films, and other collaborative works with artists including Tino Sehgal. This dramatic composition also fused the spectral presence of sound-recorded, broadcast live from outside the building, and performed live by Mikhail Rudy-to form a landscape of films, objects, and empty spaces where events unfolded. This sensory journey through both remastered existing works and new projects guided the visitor from one event to another, bringing the entire building to life. Tree of Codes: Visual art, electro-pop, and contemporary dance intersected in an illuminating new work directed by award-winning choreographer Wayne McGregor, artist Olafur Eliasson, and producer/composer Jamie xx. Performed by fifteen soloists and dancers from the Paris Opera Ballet and Company Wayne McGregor, this new type of modern dance layered classical and contemporary styles with visual wizardry and sonic imagination in this highly-anticipated U.S. premiere. This new evening-length work commissioned by the Armory took as its starting point Jonathan Safran Foers enigmatic publication, at once a novel and a piece of art created by making incisions into the pages of The Street of Crocodi”
“Artists in Residence and Under Construction: Arists-in-residence and workshops find a natural home at the Armory, and create a collaboration that benefits the artists and the Armory. The program gives artists space and inspiration to work on their projects. They become part of the Armory community, and every day underscore the commitment to the out-of-the-box creativity that is a basic tenet of this institution. The Under Construction series features artists-in-residence sharing works-in-progress at intimate events in the Armorys jewel-like period rooms. The Under Construction Series continued in 2014, offering audiences an inside look into the creative process of the Armorys artists-in-residence, who set up studios and offer intimate public previews of works-in-progress in the disciplines of dance, theater, music, and visual art. The Armorys period rooms provide a unique backdrop for these workshops, serving as both inspiration and as a collaborator in the development of their works. Education at the Armory: Utilizing our magnificent historic building and the unique visual and performing arts programming that takes place within it, Park Avenue Armorys arts education program gives underserved New York City public school students from all five boroughs the opportunity to be immersed in the creative process of exceptional artists. The program has three major components: Production-Based Programming, Partnership Schools, and the Youth Corps internship program. In 2015, Production-based Programming reached over 4,000 students from approximately 50 underserved NYC public schools and Out-of-School-Time Sites. For the first time, every single performing arts production included a dedicated student-only matinee, increasing attendance and offering 121 workshops throughout the season. Students witnessed a wide array of programmatic offerings that took place in the Wade Thompson Drill Hall, including student-only matinees of FLEXN and of Tree of Codes, student-only viewing hours to explore Philippe Parrenos H {N)Y P N(Y} OSIS and Laurie Andersons HABEAS CORPUS, and a student matinee of Goldberg complete with a lesson in the Abramovic Method led by Marina Abramovic herself. In addition to these large scale works, students were also exposed to intimate engagements with artists in the Armorys period rooms, attending open rehearsals and participating in Q&A sessions with four of the seasons recitalists, as well as engaging with artists-in-residence 600 Highwaymen and Imani Uzuri. The Armorys Partner Schools receive in-depth residencies that engage students with the Armorys mission and provide a deeper understanding of programmatic offerings. In 2015, classes from partner schools explored the art of installation inspired by Philippe Parreno, wrote and performed a non-linear staged reading about social justice inspired by FLEXN, drew connections between music and visual art inspired by the recitals in the Board of Officers Room, and created three-dimensional, sculptural books of bedtime stories that drew upon the originating materials behind Tree of Codes and Goldberg. Armory partner schools were also invited to participate in a masterclass with FLEXN choreographer Reggie "Regg Roc" Gray and attend additional on-site workshops before the Tree of Codes student matinee. Partner schools in 2015, celebrated at the annual Evening of the Arts, were Williamsburg High School for Architecture and Design in Brooklyn, Bronx Envision Academy in the Bronx, MS 244 The New School for Leadership and the Arts in the Bronx, PS 106 The Parkchester School in the Bronx, and the Fresh Creek School in Brooklyn. The Youth Corps is a group of New York City public high school students who are immersed in the art and creative processes of the Armorys artists through paid, project-oriented internships that provide job and career training, leadership development, and essential communication and life skills. Interns engaged directly with Armory artists, exposing them to al”
“The Armory is subject to the provisions of the Financial Accounting Standards Board's (The "FASB") Codification ("ASC") Topic 740, Income Taxes, as it relates to accounting and reporting for uncertainty in income taxes. Because of the Armory's general tax-exempt status, Management believes that ASC Topic 740 has not had, and is not anticipated to have, a material impact on the Armory's financial statements.”
“The armory's endowment consist of a donor-restricted fund to support the charitable purposes and activities of the armory.”
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/DeductibleArtContributionInd | 0 | false |
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| IRS990/DelegationOfMgmtDutiesInd | 0 | false |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 3 | MARINA ABRAMOVIC |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 4 | KENT L BARWICK |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 5 | WENDY BELZBERG |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 6 | EMMA BLOOMBERG |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 7 | CAROLYN S BRODY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 8 | CORA CAHAN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 9 | PETER CLIVE CHARRINGTON |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 10 | HELENE COMFORT |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 11 | PAUL CRONSON |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 12 | SANFORD B EHRENKRANZ |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 13 | MICHAEL FIELD |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 17 | MAJOR GENERAL EDWARD G KLEIN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 18 | KEN KUCHIN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 19 | MARY T KUSH |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 20 | PABLO LEGORRETA |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 21 | RALPH LEMON |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 22 | HEIDI MCWILLIAMS |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 23 | DAVID S MOROSS |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 24 | GWENDOLYN NORTON |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 34 | REBECCA ROBERTSON |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 35 | AMANDA JT RIEGEL |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 37 | MELANIE FORMAN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 38 | TED VASQUEZ |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 39 | LISSA FRENKEL |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 40 | MICHAEL LONERGAN |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 41 | KRISTEN REOCH |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 42 | WAYNE LOWERY |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 43 | JAY DORITY |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 18 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 19 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 20 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 21 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 22 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 23 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 24 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 25 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 37 | 260000 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 38 | 139680 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 39 | 174963 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 40 | 150000 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 41 | 131983 |
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Displayed year
2015 • Form 990Detailed filing. Detailed filing data is available for this year.