Civic Intelligence

Ben Franklin Technology Partners of Northeastern Pennsylvania Inc.

990 • Fiscal year 2017 • EIN 23-2517422

Jul 01, 2016 to Jun 30, 2017 • Filed on Mar 14, 2018

Organization Profilewww.nep.benfranklin.org
116 Research Drive Plaza LevelBethlehem, PA 18015-4731

(610) 758-5200

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.13x

Higher debt load relative to assets than 32% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

58th percentile

0.55x

Higher debt load relative to revenue than 58% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

87th percentile

37%

Higher net margin than 87% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

61st percentile

$420,467

Higher top officer pay than 61% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

89th percentile

25%

Faster asset growth than 89% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

87th percentile

46%

Faster revenue growth than 87% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$53,401,654

Up $10,680,583 (+25%) from 2016

Net Assets

Up

$46,297,882

Up $7,366,786 (+19%) from 2016

Liabilities

Up

$7,103,772

Up $3,313,797 (+87%) from 2016

Revenue And Expenses
Liabilities / Revenue58th percentileNet Margin87th percentile

Revenue

Up

$12,806,706

Up $4,027,595 (+46%) from 2016

Expenses

Down

$8,069,804

Down $554,887 (-6.4%) from 2016

Net Income

Up

$4,736,902

Up $4,582,482 (+2968%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth89th percentile

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

$80M$60M$40M$20M$0Assets 2011: $42,785,806Liabilities 2011: $9,320,087Net Assets 2011: $33,465,7192011Assets 2012: $45,705,281Liabilities 2012: $7,310,414Net Assets 2012: $38,394,8672012Assets 2013: $45,245,060Liabilities 2013: $6,516,381Net Assets 2013: $38,728,6792013Assets 2014: $45,720,722Liabilities 2014: $6,370,329Net Assets 2014: $39,350,3932014Assets 2015: $42,701,544Liabilities 2015: $4,273,498Net Assets 2015: $38,428,0462015Assets 2016: $42,721,071Liabilities 2016: $3,789,975Net Assets 2016: $38,931,0962016Assets 2017: $53,401,654Liabilities 2017: $7,103,772Net Assets 2017: $46,297,8822017Assets 2018: $57,696,760Liabilities 2018: $3,121,137Net Assets 2018: $54,575,6232018Assets 2019: $57,026,656Liabilities 2019: $1,668,639Net Assets 2019: $55,358,0172019Assets 2020: $58,069,128Liabilities 2020: $2,225,569Net Assets 2020: $55,843,5592020Assets 2021: $65,029,231Liabilities 2021: $1,989,832Net Assets 2021: $63,039,3992021Assets 2022: $62,281,890Liabilities 2022: $1,766,429Net Assets 2022: $60,515,4612022Assets 2023: $66,138,901Liabilities 2023: $5,322,689Net Assets 2023: $60,816,2122023Assets 2024: $66,334,468Liabilities 2024: $2,611,706Net Assets 2024: $63,722,7622024

Highlighted filing

2017

Assets$53,401,654
Liabilities$7,103,772
Net Assets$46,297,882
Open 2017 Filing

Operations Trend

Revenue Growth87th percentile

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

$20M$10M$0-$10MRevenue 2011: $16,520,442Expenses 2011: $7,215,273Net Income 2011: $9,305,1692011Revenue 2012: $13,118,926Expenses 2012: $7,569,837Net Income 2012: $5,549,0892012Revenue 2013: $7,212,976Expenses 2013: $7,124,738Net Income 2013: $88,2382013Revenue 2014: $7,882,391Expenses 2014: $7,919,457Net Income 2014: -$37,0662014Revenue 2015: $7,637,925Expenses 2015: $7,694,805Net Income 2015: -$56,8802015Revenue 2016: $8,779,111Expenses 2016: $8,624,691Net Income 2016: $154,4202016Revenue 2017: $12,806,706Expenses 2017: $8,069,804Net Income 2017: $4,736,9022017Revenue 2018: $19,088,907Expenses 2018: $8,492,592Net Income 2018: $10,596,3152018Revenue 2019: $8,960,845Expenses 2019: $7,826,256Net Income 2019: $1,134,5892019Revenue 2020: $6,233,285Expenses 2020: $8,095,838Net Income 2020: -$1,862,5532020Revenue 2021: $10,262,349Expenses 2021: $8,248,048Net Income 2021: $2,014,3012021Revenue 2022: $12,276,721Expenses 2022: $7,869,096Net Income 2022: $4,407,6252022Revenue 2023: $9,432,353Expenses 2023: $10,938,433Net Income 2023: -$1,506,0802023Revenue 2024: $9,957,018Expenses 2024: $11,762,513Net Income 2024: -$1,805,4952024

Highlighted filing

2017

Revenue$12,806,706
Expenses$8,069,804
Net Income$4,736,902
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Mar 14, 2018
Return Version
2016v3.1
Gross Receipts
$17,262,930
Mission and Program Overview

Mission

Our mission is to promote, sustain and invest in the transformation of our regional economy through innovation and partnering. We build long-term relationships with our clients by applying expertise, creativity, and focused resources to address business challenges. As the commonwealth's technology leader, we leverage our credibility and distinctiveness to promote high-value business growth and economic development.

Our mission is to promote, sustain and invest in the transformation of our regional economy through innovation and partnering.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,741,025$25,470,769▲ $3,729,744
Investments in Publicly Traded Securities$10,439,796$10,968,793▲ $528,997
Investments Other Securities$5,037,663$7,197,110▲ $2,159,447
Savings and Temporary Cash Investments$2,869,091$4,624,388▲ $1,755,297
Pledges and Grants Receivable$0$2,124,476▲ $2,124,476
Other Notes and Loans Receivable, Net$1,546,450$1,648,220▲ $101,770
Investments Program Related$1,032,115$1,032,115→ $0
Prepaid Expenses and Deferred Charges$5,351$231,788▲ $226,437
Accounts Receivable$23,398$45,027▲ $21,629
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$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$42,721,071$53,401,654▲ $10,680,583
Other Assets Total$26,182$58,968▲ $32,786
Liabilities
Unsecured Notes Loans Payable$665,014$2,239,081▲ $1,574,067
Accounts Payable and Accrued Expenses$341,868$1,924,619▲ $1,582,751
Other Liabilities$1,305,336$1,442,964▲ $137,628
Deferred Revenue$1,414,524$1,337,936▼ $76,588
Grants Payable$63,233$159,172▲ $95,939
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$3,789,975$7,103,772▲ $3,313,797
Net Assets / Fund Balance
Unrestricted Net Assets$38,931,096$46,297,882▲ $7,366,786
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$38,931,096$46,297,882▲ $7,366,786
Total Liabilities and Net Assets / Fund Balance$42,721,071$53,401,654▲ $10,680,583

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,723,724$4,871,928$20,595,652
Leasehold Improvements$9,679,341$3,570,072$13,249,413
Equipment$67,704$920,585$988,289
Other Securities$7,197,110--
Compensation and Service Providers
Top Officer Pay61st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
R Chadwick Paul JrCEO/President/Board MemberFT$296,422$52,573$348,995
Joseph M LaneVP Enterprise DevelopmentFT$164,236$34,061$198,297
Wayne BarzMgr Entrepreneurial ServicesFT$97,299$78,058$175,357
Kathy Ann MinnichCFO/Treasurer/SecretaryFT$135,507$26,328$161,835
Robert Thomson IIIRegional Mgr Lehigh ValleyFT$111,398$28,626$140,024
Aaron B BalchChief Information OfficerFT$111,582$23,335$134,917
Janet StainbrookAsst Treasurer/Asst SecretaryFT$67,069$15,620$82,689

Board Members and Trustees

NameTitle
Frederick Beste IIIBoard Chairman
Jan HellerBoard Finance Chairman
Barbara LampeVice Chairman
Dean B GirtonBoard Member
Dr Alan J SnyderBoard Member
James PetersBoard Member
Kenneth P GuitoBoard Member
Patricia JohnsonBoard Member
Peter Molinaro JrBoard Member
Ronald L BauerBoard Member

Highest Paid Contractors

ContractorServicesLocationCompensation
Spillman Farmer ArchitectsArchitectural Servic1720 Spillman Drive, Bethlehem, PA 18015$299,878
Revenue and Support

Revenue Composition

Contributions and Grants
$9,847,115
Program Service Revenue
$1,538,704
Investment Income
$1,420,887
Other Revenue
$0
All Other Contributions
$146,475
Change in Net Assets
$4,736,902

Audited Revenue Reconciliation

Revenue per Audited Statements
$12,806,706
Revenue Not Reported on Form 990
$2,629,884
Total Revenue per Audited Statements
$15,436,590
Total Revenue per Form 990
$12,806,706
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,570,073
Salaries, Compensation, and Employee Benefits$2,862,291
Grants and Similar Amounts Paid$637,440
Total Fundraising Expense$15,281
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,269,619$356,419$2,095$1,628,133
Depreciation Depletion-$1,295,758-$1,295,758
Occupancy$808,657$81,894-$890,551
Grants to Domestic Orgs$637,440--$637,440
Current Officers, Directors, Trustees, and Key Employees$426,253$205,075$830$632,158
Other Employee Benefits$221,670$98,488$461$320,619
Office Expenses$145,791$36,353-$182,144
Pension Plan Contributions$125,896$34,022$265$160,183
Payroll Taxes$94,677$26,336$185$121,198
Fees for Service Investment Mgmnt Fees-$96,592-$96,592
Conferences and Meetings$74,984--$74,984
Fees for Services Lobbying-$64,231-$64,231
Information Technology$34,744$20,269-$55,013
Fees for Services Accounting-$48,665-$48,665
Fees for Services Legal-$39,264-$39,264
Travel$24,305$10,911-$35,216
Fees for Services Other$28,739$5,923-$34,662
Other Expenses$22,597--$22,597
Advertising-$118$11,445$11,563
Insurance-$10,664-$10,664
Total Functional Expenses$5,623,541$2,430,982$15,281$8,069,804

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$8,069,804
Total Expenses per Audited Statements$8,069,804
Total Expenses per Form 990$8,069,804
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
HB Custom MediaBethlehem, PA-Business and Technical Assistance$100,000
Penn-Troy ManufacturingTroy, PA-Business and Technical Assistance$50,000
Fragrance ManufacturingAllentown, PA-Business and Technical Assistance$27,760
Bio Med SciencesAllentown, PA-Business and Technical Assistance$25,000
Brentwood IndustriesReading, PA-Business and Technical Assistance$25,000
InterMetro IndustriesWilkesbarre, PA-Business and Technical Assistance$25,000
Reeb MillworkBethlehem, PA-Business and Technical Assistance$24,937
Effort FoundryBath, PA-Business and Technical Assistance$22,975
Spray-TekBethlehem, PA-Business and Technical Assistance$19,721
Pleasant Mount WeldingCarbondale, PA-Business and Technical Assistance$19,298
Readeeming BeautyBethlehem, PA-Business and Technical Assistance$18,017
East Penn ManufacturingLyons, PA-Business and Technical Assistance$17,861
Applied SeparationsAllentown, PA-Business and Technical Assistance$17,858
Benton FoundryBenton, PA-Business and Technical Assistance$17,781
East Coast ErosionBernville, PA-Business and Technical Assistance$17,396
UnicastBoyertown, PA-Business and Technical Assistance$16,990
Giorgio MushroomTemple, PA-Business and Technical Assistance$14,241
Bazzini HoldingsAllentown, PA-Business and Technical Assistance$14,186
Interstate BuildingPittston, PA-Business and Technical Assistance$14,138
Bosch RexrothBethlehem, PA-Business and Technical Assistance$10,853
Simplex HomesScranton, PA-Business and Technical Assistance$10,631
ABEC IncBethlehem, PA-Business and Technical Assistance$10,000
Ocean SprayBreinigsville, PA-Business and Technical Assistance$10,000
Behr Process CorpAllentown, PA-Business and Technical Assistance$9,167
Lee's Oriental GourmetShenandoah, PA-Business and Technical Assistance$8,000
Belrick CorpSwoyersville, PA-Business and Technical Assistance$7,333
JsmKutztown, PA-Business and Technical Assistance$7,203
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Postretirement Benefit$954,000
Asset Retirement Obligation$317,936
Accrued Payroll$158,702
Other$12,326
Governance and Compliance

Governance Checklist

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

Governance Explanations

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

“The 990 return is prepared by the Chief Financial Officer and reviewed by a paid preparer. A copy of the 990 return is sent to the Board of Directors for review and comment prior to submission.”

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

“Conflict of interest forms are annually sent to all staff and board members. They are reviewed by the Chief Executive Officer and the Chief Financial Officer. At the June full board meeting, the Board of Directors review the conflicts listed by the board and staff members.”

990, Part VI, Section B, Line 15

“A third party consultant is contracted to assist in the compensation review for all employees. The officers and key employees are approved by the independent Executive Committee of the board during an executive session and is recorded in the minutes. Salary surveys and other non-profit 990 returns are reviewed at that time. Non-officers and non-key employees are approved by the Chairman of the Board using the data from salary surveys and other non-profit 990 returns.”

990, Part VI, Section C, Line 19

“Forms 990, 1023, financial statements and the conflict of interest policy are available upon request.”

990, Part VII, Section A, Line 1A

“The hours listed for board members which are from a related organization refer to the hours dedicated to Ben Franklin Technology Partners of NEPA only.”

Filing and Contact Details

Filer

Filer Name
Ben Franklin Technology Partners NE PA
EIN
23-2517422
In Care Of
% KATHY ANN MINNICH
Phone
6107585200
Address
116 Research Drive Plaza Level, Bethlehem, PA 18015-4731

Signing Officer

Name
Kathy Ann Minnich
Title
CFO/treasurer
Phone
6107585200
Signed
2018-03-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
R Chadwick Paul Jr
Formed
1988
Legal Domicile
Pa
Voting Board Members
11
Independent Board Members
8
Employees
0
Volunteers
50

Preparer

Firm
PricewaterhouseCoopers LLP
Address
2001 MARKET ST SUITE 1800, PHILADELPHIA, PA 19103
Preparer
Joanne Krueger
Phone
2673303000
Supplemental Narrative

Additional Explanations

990, Part V, Line 1A

“LEHIGH UNIVERSITY IS THE PAYMASTER AND FILES THE APPROPRIATE WAGE AND TAX STATEMENTS. THERE ARE 23 EMPLOYEES EMPLOYED BY BEN FRANKLIN TECHNOLOGY PARTNERS OF NEPA. 990, PART V, LINE 2A LEHIGH UNIVERSITY IS THE PAYMASTER AND FILES THE APPROPRIATE WAGE AND TAX STATEMENTS. THERE ARE 23 EMPLOYEES EMPLOYED BY BEN FRANKLIN TECHNOLOGY PARTNERS OF NEPA. 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE HAS THE POWERS AND AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS AFFAIRS OF THE CORPORATION TO THE EXTENT PERMITTED BY LAW. FORM 990, PART VI, SECTION A, LINE 7B Lehigh University is the Corporate Member.”

990, Part XI, Line 9

“Unrealized GAIN in postretirement benefit obligation.”

Financial Statement Notes

Form 990, Schedule D, Part X, Line 2

“The Partners are exempt from federal income taxes under Section 501(c)(3) of the Internal Revenue Code, except for taxes on income from activitiesunrelated to their exempt purpose. The Partners use a threshold of more likely than not for recognition and derecognition of tax positions taken or expected to be taken in a tax return. The Partners have no uncertain income tax positions meeting the threshold for accrual in the years ended June 30, 2017 and 2016.”

Form 990, Schedule D, Part XI, Line 2D

“Unrealized GAIN in postretirement benefit obligation.”

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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/Form990PartVIISectionAGrp/PersonNm6Peter Molinaro Jr
IRS990/Form990PartVIISectionAGrp/PersonNm7James Peters
IRS990/Form990PartVIISectionAGrp/PersonNm8Dr Alan J Snyder
IRS990/Form990PartVIISectionAGrp/PersonNm9Patricia Johnson
IRS990/Form990PartVIISectionAGrp/PersonNm10R Chadwick Paul Jr
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IRS990/Form990PartVIISectionAGrp/PersonNm12Janet Stainbrook
IRS990/Form990PartVIISectionAGrp/PersonNm13Joseph M Lane
IRS990/Form990PartVIISectionAGrp/PersonNm14Aaron B Balch
IRS990/Form990PartVIISectionAGrp/PersonNm15Wayne Barz
IRS990/Form990PartVIISectionAGrp/PersonNm16Robert Thomson III
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IRS990/Form990PartVIISectionAGrp/TitleTxt13VP Enterprise Development
IRS990/Form990PartVIISectionAGrp/TitleTxt14Chief Information Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt15Mgr Entrepreneurial Services
IRS990/Form990PartVIISectionAGrp/TitleTxt16Regional Mgr Lehigh Valley
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IRS990/MissionDesc0OUR MISSION IS TO PROMOTE, SUSTAIN AND INVEST IN THE TRANSFORMATION OF OUR REGIONAL ECONOMY THROUGH INNOVATION AND PARTNERING. WE BUILD LONG-TERM RELATIONSHIPS WITH OUR CLIENTS BY APPLYING EXPERTISE, CREATIVITY, AND FOCUSED RESOURCES TO ADDRESS BUSINESS CHALLENGES. AS THE COMMONWEALTH'S TECHNOLOGY LEADER, WE LEVERAGE OUR CREDIBILITY AND DISTINCTIVENESS TO PROMOTE HIGH-VALUE BUSINESS GROWTH AND ECONOMIC DEVELOPMENT.
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IRS990/ProgramServiceRevenueGrp/Desc0Business Incubator Revenue
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IRS990/ProgSrvcAccomActy2Grp/Desc0Technology Infrastructure Activities - Promoting an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies. Ben Franklin Technology Partners of NEPA inaugurated one of the first business incubators in the nation in 1983 and managed and developed its award-winning incubator to be among the best. In 2007, BFTP/NEP relocated its original incubator across the street on Lehigh University's Mountaintop Campus to Ben Franklin TechVentures, a former Bethlehem Steel laboratory. The National Business Incubation Association named Ben Franklin TechVentures the 2012 National Incubator of the Year, a remarkable repeat of Ben Franklin's 2001 honor. Ben Franklin TechVentures brings together entrepreneurs, Ben Franklin staff, and Lehigh faculty and students to accelerate the growth of the region's technology economy. In 2010, the Partners purchased the Bloomsburg Regional Technology Center located in Bloomsburg, PA.

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$53,401,654
Liabilities
$7,103,772
Net assets
$46,297,882
Revenue
$12,806,706
Expenses
$8,069,804
Net income
$4,736,902
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$66.3$2.61$63.7$9.96$11.8$1.81
2023Detailed filing. Detailed filing data is available for this year.$66.1$5.32$60.8$9.43$10.9$1.51
2022Detailed filing. Detailed filing data is available for this year.$62.3$1.77$60.5$12.3$7.87$4.41
2021Detailed filing. Detailed filing data is available for this year.$65.0$1.99$63.0$10.3$8.25$2.01
2020Detailed filing. Detailed filing data is available for this year.$58.1$2.23$55.8$6.23$8.10$1.86
2019Detailed filing. Detailed filing data is available for this year.$57.0$1.67$55.4$8.96$7.83$1.13
2018Detailed filing. Detailed filing data is available for this year.$57.7$3.12$54.6$19.1$8.49$10.6
2017Detailed filing. Detailed filing data is available for this year.$53.4$7.10$46.3$12.8$8.07$4.74
2016Detailed filing. Detailed filing data is available for this year.$42.7$3.79$38.9$8.78$8.62$0.15
2015Detailed filing. Detailed filing data is available for this year.$42.7$4.27$38.4$7.64$7.69$0.06
2014Summary only. Only limited summary data is available for this year.$45.7$6.37$39.4$7.88$7.92$0.04
2013Summary only. Only limited summary data is available for this year.$45.2$6.52$38.7$7.21$7.12$0.09
2012Summary only. Only limited summary data is available for this year.$45.7$7.31$38.4$13.1$7.57$5.55
2011Summary only. Only limited summary data is available for this year.$42.8$9.32$33.5$16.5$7.22$9.31