Civic Intelligence

The Foundation for Maine'S Community Colleges

990 • Fiscal year 2016 • EIN 27-1363414

Jul 01, 2015 to Jun 30, 2016 • Filed on Dec 13, 2016

Organization Profilewww.maineccfoundation.org

View Organization Page

54 Lighthouse CircleSouth Portland, ME 04106

(207) 321-6152

Siviq Scores

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

Liabilities / Assets

30th percentile

0.05x

Higher debt load relative to assets than 30% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Liabilities / Revenue

46th percentile

0.15x

Higher debt load relative to revenue than 46% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Net Margin

90th percentile

41%

Higher net margin than 90% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Top Officer Pay

64th percentile

$154,174

Higher top officer pay than 64% of similar nonprofits.

Top officer pay equals 6.4% of source-year revenue.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2016

Asset Growth

10th percentile

-9.4%

Faster asset growth than 10% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Revenue Growth

23rd percentile

-9.0%

Faster revenue growth than 23% of similar nonprofits.

2016 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets30th percentile

Assets

Down

$7,343,612

Down $765,552 (-9.4%) from 2015

Net Assets

Up

$6,972,349

Up $982,207 (+16%) from 2015

Liabilities

Down

$371,263

Down $1,747,759 (-82%) from 2015

Revenue And Expenses
Liabilities / Revenue46th percentileNet Margin90th percentile

Revenue

Down

$2,395,611

Down $236,482 (-9.0%) from 2015

Expenses

Down

$1,413,404

Down $1,992,369 (-58%) from 2015

Net Income

Up

$982,207

Up $1,755,887 (+227%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth10th percentile

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

$30M$20M$10M$0Assets 2011: $7,814,381Liabilities 2011: $193,803Net Assets 2011: $7,620,5782011Assets 2012: $8,098,082Liabilities 2012: $862,587Net Assets 2012: $7,235,4952012Assets 2013: $7,607,148Liabilities 2013: $809,192Net Assets 2013: $6,797,9562013Assets 2014: $7,491,914Liabilities 2014: $667,051Net Assets 2014: $6,824,8632014Assets 2015: $8,109,164Liabilities 2015: $2,119,022Net Assets 2015: $5,990,1422015Assets 2016: $7,343,612Liabilities 2016: $371,263Net Assets 2016: $6,972,3492016Assets 2017: $7,378,975Liabilities 2017: $299,483Net Assets 2017: $7,079,4922017Assets 2018: $6,014,846Liabilities 2018: $257,208Net Assets 2018: $5,757,6382018Assets 2019: $8,491,613Liabilities 2019: $435,464Net Assets 2019: $8,056,1492019Assets 2020: $8,040,056Liabilities 2020: $621,259Net Assets 2020: $7,418,7972020Assets 2021: $8,006,332Liabilities 2021: $675,480Net Assets 2021: $7,330,8522021Assets 2022: $20,354,624Liabilities 2022: $1,067,456Net Assets 2022: $19,287,1682022Assets 2023: $14,060,481Liabilities 2023: $1,036,265Net Assets 2023: $13,024,2162023Assets 2024: $9,433,902Liabilities 2024: $1,628,137Net Assets 2024: $7,805,7652024Assets 2025: $6,163,766Liabilities 2025: $618,341Net Assets 2025: $5,545,4252025

Highlighted filing

2016

Assets$7,343,612
Liabilities$371,263
Net Assets$6,972,349
Open 2016 Filing

Operations Trend

Revenue Growth23rd percentile

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

$20M$10M$0-$10MExpenses 2011: $758,7172011Expenses 2012: $3,176,1282012Expenses 2013: $2,093,0052013Revenue 2014: $1,202,464Expenses 2014: $1,175,557Net Income 2014: $26,9072014Revenue 2015: $2,632,093Expenses 2015: $3,405,773Net Income 2015: -$773,6802015Revenue 2016: $2,395,611Expenses 2016: $1,413,404Net Income 2016: $982,2072016Revenue 2017: $3,285,806Expenses 2017: $3,178,663Net Income 2017: $107,1432017Revenue 2018: $2,116,793Expenses 2018: $3,252,893Net Income 2018: -$1,136,1002018Revenue 2019: $5,054,259Expenses 2019: $2,781,500Net Income 2019: $2,272,7592019Revenue 2020: $2,189,713Expenses 2020: $2,844,514Net Income 2020: -$654,8012020Revenue 2021: $2,353,007Expenses 2021: $2,642,418Net Income 2021: -$289,4112021Revenue 2022: $16,834,487Expenses 2022: $3,942,310Net Income 2022: $12,892,1772022Revenue 2023: $1,406,703Expenses 2023: $8,256,473Net Income 2023: -$6,849,7702023Revenue 2024: $1,379,321Expenses 2024: $6,927,329Net Income 2024: -$5,548,0082024Revenue 2025: $980,979Expenses 2025: $3,691,939Net Income 2025: -$2,710,9602025

Highlighted filing

2016

Revenue$2,395,611
Expenses$1,413,404
Net Income$982,207
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Dec 13, 2016
Return Version
2015v2.1
Gross Receipts
$2,395,611
Mission and Program Overview

Mission

The Foundation for Maine's Community Colleges is dedicated to ensuring that the State's seven community colleges have the resources they need to provide a high quality, affordable, and accessible college education for Maine people.

Provide support and resources for Maine's seven community colleges.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$4,931,431$4,786,146▼ $145,285
Pledges and Grants Receivable$2,284,904$1,403,356▼ $881,548
Investments in Publicly Traded Securities$305,652$766,781▲ $461,129
Land, Buildings, and Equipment, Net$387,127$383,460▼ $3,667
Accounts Receivable$200,000$0▼ $200,000
Prepaid Expenses and Deferred Charges$50$3,869▲ $3,819
Total Assets$8,109,164$7,343,612▼ $765,552
Liabilities
Accounts Payable and Accrued Expenses$2,119,022$371,263▼ $1,747,759
Total Liabilities$2,119,022$371,263▼ $1,747,759
Net Assets / Fund Balance
Temporarily Rstr Net Assets$4,543,231$5,591,629▲ $1,048,398
Unrestricted Net Assets$1,253,241$728,861▼ $524,380
Permanently Rstr Net Assets$193,670$651,859▲ $458,189
Total Net Assets Fund Balance$5,990,142$6,972,349▲ $982,207
Total Liabilities and Net Assets / Fund Balance$8,109,164$7,343,612▼ $765,552

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,460$15,870$24,330
Land$375,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$305,652$458,189▲ $5,856-$766,781
2014$4,945,102$2,325,681▼ $1,867$2,532,015$4,736,901
2013$5,183,870$927,834▲ $26,939$1,193,541$4,945,102
2012$6,072,072$1,431,832▲ $10,742$2,330,776$5,183,870
2011$6,500,244$1,814,296-$2,242,468$6,072,072
Compensation and Service Providers
Top Officer Pay64th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jane B PhillipsPresidentFT$120,600$33,574$154,174

Board Members and Trustees

NameTitle
Hon John R McKernan JrChair
Lisa M GormanVice Chair
Carol A EpsteinDirector
Derek LanghauserDirector
Dr John FitzsimmonsDirector
Elaine D RosenDirector
Lawrence A WoldDirector
Robert D KumpDirector
Sterling KozlowskiDirector
Hon Daniel E WathenSecretary
Richard PetersenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,084,693
Program Service Revenue
$300,000
Investment Income
$10,918
Other Revenue
$0
All Other Contributions
$2,084,693
Change in Net Assets
$982,207

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,394,852
Revenue Not Reported on Financial Statements
$759
Revenue Not Reported on Form 990
$108,906
Total Revenue per Audited Statements
$2,503,758
Total Revenue per Form 990
$2,395,611
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,082,700
Salaries, Compensation, and Employee Benefits$257,449
Other Expenses$73,255
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$1,082,700--$1,082,700
Current Officers, Directors, Trustees, and Key Employees$123,339$30,835-$154,174
Other Salaries and Wages$64,740$16,185-$80,925
Fees for Services Accounting-$18,900-$18,900
Office Expenses$14,938$3,733-$18,671
Payroll Taxes$12,682$3,171-$15,853
Fees for Services Other$11,844$2,961-$14,805
Conferences and Meetings$6,226$1,557-$7,783
Travel$4,615$1,154-$5,769
Pension Plan Contributions$3,214$804-$4,018
Depreciation Depletion$2,934$733-$3,667
Insurance$2,101$525-$2,626
Other Employee Benefits$1,983$496-$2,479
Fees for Service Investment Mgmnt Fees-$759-$759
Advertising$220$55-$275
Total Functional Expenses$1,331,536$81,868$0$1,413,404

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,521,551
Total Expenses per Form 990$1,413,404
Expenses per Audited Statements$1,412,645
Expenses Not Reported on Form 990$108,906
Expenses Not Reported on Financial Statements$759
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Maine Community College SystemAugusta, MEGovernmentGeneral support of Maine's community colleges$1,082,700
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
Yes
Subject to proxy tax
No
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The Maine Community College System, pursuant to a written agreement, provides certain management and other services to the Foundation. These services include financial, investment, human resources, and public relations services.”

Form 990, Part VI, Section B, line 11

“The Form 990 was prepared by the Foundation's outside accounting firm, reviewed in detail by and with the Foundation's management team, and emailed to each Board member. Board members were also invited to participate in a conference call meeting to review the Form 990 and for the staff to answer any questions prior to filing.”

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

“Annually, each board member must file a signed conflict of interest disclosure form with the Foundation, as required by the conflict of interest policy.”

Form 990, Part VI, Section B, line 15A

“The President's compensation arrangement is determined by taking into account information about compensation paid by similarly-situated organizations for similar services. Currently, the Foundation has no paid officers or key employees other than the President, if and when such employees are hired, a similar process will be used to establish their compensation.”

Form 990, Part VI, Section C, line 19

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

Filing and Contact Details

Filer

Filer Name
The Foundation for Maine's Community
EIN
27-1363414
Phone
2073216152
Address
54 Lighthouse Circle, South Portland, ME 04106

Signing Officer

Name
Jane B Phillips
Title
President
Phone
2073516152
Signed
2016-12-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jane B Phillips
Formed
2009
Legal Domicile
Me
Voting Board Members
12
Independent Board Members
11
Employees
3
Volunteers
11

Preparer

Firm
Berry Dunn McNeil & Parker LLC
Address
PO Box 1100, Portland, ME 04104-1100
Preparer
Joseph R Byrne CPA
Phone
2077752387
Supplemental Narrative

Additional Explanations

Form 990, Part X, Line 10: Land, Buildings, and Equipment

“Section 1.263(a)-3(n) Election: The Foundation for Maine's Community Colleges 54 Lighthouse Circle South Portland, ME 04106 EIN: 27-1363414 Section 1.263(a)-3(n) Election: The Foundation for Maine's Community Colleges is electing to capitalize repair and maintenance costs under Regulation Section 1.263(a)-3(n).”

Financial Statement Notes

Part V, Line 4:

“The Organization uses its endowment funds to provide scholarships to students attending Maine's community colleges as well as provide funds to further its exempt purpose.”

Part X, Line 2:

“The Foundation is a tax exempt organization under Section 501(c)(3) of the Internal Revenue Code and, accordingly, no provision for state or federal income taxes has been made in the Organization's audited financial statements. Management has evaluated the Foundation's tax positions and concluded that the Foundation has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements. The Foundation is subject to income tax examinations by the U.S. Federal or State tax authorities for years after June 30, 2012.”

Schedule D, Part V:

“The Organization's current year endowment fund balance has been restated to accurately reflect endowments as reported on the Organization's audited financial statements. Information is not readily available to adjust the endowment fund balance for previous years.”

Raw XML AppendixShowing 400 of 549 raw XML fields

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/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
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IRS990/InsuranceGrp/ProgramServicesAmt02101
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IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0The Foundation for Maine's Community Colleges is dedicated to ensuring that the State's seven community colleges have the resources they need to provide a high quality, affordable, and accessible college education for Maine people.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/PayPremiumsPrsnlBnftCntrctInd00
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IRS990/PrincipalOfficerNm0Jane B Phillips
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt04931431
IRS990/SavingsAndTempCashInvstGrp/EOYAmt04786146
IRS990ScheduleA/CollegeOrganizationInd0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt01452115
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt02743120
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt09681567
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt010918
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt02118
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt030800
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt014871
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt04120
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt062827
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt01100000
IRS990ScheduleA/PublicSupportCY170Pct00.77170
IRS990ScheduleA/PublicSupportPY170Pct00.62960
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt02743120
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt09681567
IRS990ScheduleA/TotalSupportAmt09744394
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
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IRS990ScheduleC/AvgGrassrootsLobbyingExpendGrp/CurrentYearMinus3Amt08960
IRS990ScheduleC/AvgGrassrootsLobbyingExpendGrp/TotalAmt063960
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearAmt054085
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus1Amt080072
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus2Amt048139
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/CurrentYearMinus3Amt063663
IRS990ScheduleC/AvgGrassrootsNontaxableGrp/TotalAmt0245959
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearAmt0216340
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus1Amt0320289
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus2Amt0192556
IRS990ScheduleC/AvgLobbyingNontaxableAmountGrp/CurrentYearMinus3Amt0254650
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IRS990ScheduleC/AvgTotalLobbyingExpendGrp/CurrentYearMinus2Amt055000
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/CurrentYearMinus3Amt08960
IRS990ScheduleC/AvgTotalLobbyingExpendGrp/TotalAmt063960
IRS990ScheduleC/GrassrootsCeilingAmt0368939
IRS990ScheduleC/GrassrootsNontaxableGrp/FilingOrganizationsTotalAmt054085
IRS990ScheduleC/LobbyingCeilingAmt01475753
IRS990ScheduleC/LobbyingNontaxableAmountGrp/FilingOrganizationsTotalAmt0216340
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IRS990ScheduleC/TotalExemptPurposeExpendGrp/FilingOrganizationsTotalAmt01413404
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IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0766781
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt05856
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IRS990ScheduleD/ExpensesSubtotalAmt01412645
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt0759
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt0759
IRS990ScheduleD/RevenueSubtotalAmt02394852
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The Organization uses its endowment funds to provide scholarships to students attending Maine's community colleges as well as provide funds to further its exempt purpose.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Foundation is a tax exempt organization under Section 501(c)(3) of the Internal Revenue Code and, accordingly, no provision for state or federal income taxes has been made in the Organization's audited financial statements. Management has evaluated the Foundation's tax positions and concluded that the Foundation has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements. The Foundation is subject to income tax examinations by the U.S. Federal or State tax authorities for years after June 30, 2012.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2The Organization's current year endowment fund balance has been restated to accurately reflect endowments as reported on the Organization's audited financial statements. Information is not readily available to adjust the endowment fund balance for previous years.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part V, Line 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part V:
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IRS990ScheduleD/TotalExpensesPerForm990Amt01413404

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$7,343,612
Liabilities
$371,263
Net assets
$6,972,349
Revenue
$2,395,611
Expenses
$1,413,404
Net income
$982,207
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.16$0.62$5.55$0.98$3.69$2.71
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.43$1.63$7.81$1.38$6.93$5.55
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.1$1.04$13.0$1.41$8.26$6.85
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.4$1.07$19.3$16.8$3.94$12.9
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.01$0.68$7.33$2.35$2.64$0.29
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.04$0.62$7.42$2.19$2.84$0.65
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.49$0.44$8.06$5.05$2.78$2.27
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.01$0.26$5.76$2.12$3.25$1.14
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.38$0.30$7.08$3.29$3.18$0.11
2016Detailed filing. Detailed filing data is available for this year.$7.34$0.37$6.97$2.40$1.41$0.98
2015Detailed filing. Detailed filing data is available for this year.$8.11$2.12$5.99$2.63$3.41$0.77
2014Detailed filing. Detailed filing data is available for this year.$7.49$0.67$6.82$1.20$1.18$0.03
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.61$0.81$6.80$2.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.10$0.86$7.24$3.18
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.81$0.19$7.62$0.76