Civic Intelligence

Project Purple Inc.

990 • Fiscal year 2022 • EIN 27-3492063

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 23, 2023

115 Main Street Suite 1Seymour, CT 06483

(203) 714-6052

Siviq Scores

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

Liabilities / Assets

49th percentile

0.06x

Higher debt load relative to assets than 49% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

42nd percentile

0.05x

Higher debt load relative to revenue than 42% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

70th percentile

20%

Higher net margin than 70% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

86th percentile

$162,942

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 9.2% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

83rd percentile

33%

Faster asset growth than 83% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

71st percentile

27%

Faster revenue growth than 71% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$1,495,812

Up $372,100 (+33%) from 2021

Net Assets

Up

$1,408,155

Up $344,575 (+32%) from 2021

Liabilities

Up

$87,657

Up $27,525 (+46%) from 2021

Revenue

Up

$1,765,053

Up $371,351 (+27%) from 2021

Expenses

Up

$1,420,478

Up $359,278 (+34%) from 2021

Net Income

Up

$344,575

Up $12,073 (+3.6%) from 2021

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2013: $137,626Liabilities 2013: $0Net Assets 2013: $137,6262013Assets 2014: $175,656Liabilities 2014: $0Net Assets 2014: $175,6562014Assets 2015: $271,496Liabilities 2015: $0Net Assets 2015: $271,4962015Assets 2016: $477,213Liabilities 2016: $271,427Net Assets 2016: $205,7862016Assets 2017: $397,580Liabilities 2017: $156,687Net Assets 2017: $240,8932017Assets 2018: $667,732Liabilities 2018: $41,934Net Assets 2018: $625,7982018Assets 2019: $652,076Liabilities 2019: $66,535Net Assets 2019: $585,5412019Assets 2020: $739,904Liabilities 2020: $8,826Net Assets 2020: $731,0782020Assets 2021: $1,123,712Liabilities 2021: $60,132Net Assets 2021: $1,063,5802021Assets 2022: $1,495,812Liabilities 2022: $87,657Net Assets 2022: $1,408,1552022Assets 2023: $1,944,886Liabilities 2023: $88,641Net Assets 2023: $1,856,2452023Assets 2024: $2,234,680Liabilities 2024: $531,026Net Assets 2024: $1,703,6542024

Highlighted filing

2022

Assets$1,495,812
Liabilities$87,657
Net Assets$1,408,155

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2013: $236,443Expenses 2013: $143,434Net Income 2013: $93,0092013Revenue 2014: $492,687Expenses 2014: $454,657Net Income 2014: $38,0302014Revenue 2015: $825,070Expenses 2015: $729,230Net Income 2015: $95,8402015Revenue 2016: $1,197,081Expenses 2016: $1,114,708Net Income 2016: $82,3732016Revenue 2017: $1,053,205Expenses 2017: $1,018,098Net Income 2017: $35,1072017Revenue 2018: $1,437,970Expenses 2018: $1,053,065Net Income 2018: $384,9052018Revenue 2019: $1,482,219Expenses 2019: $1,522,476Net Income 2019: -$40,2572019Revenue 2020: $933,835Expenses 2020: $788,298Net Income 2020: $145,5372020Revenue 2021: $1,393,702Expenses 2021: $1,061,200Net Income 2021: $332,5022021Revenue 2022: $1,765,053Expenses 2022: $1,420,478Net Income 2022: $344,5752022Revenue 2023: $2,556,444Expenses 2023: $2,108,354Net Income 2023: $448,0902023Revenue 2024: $2,996,848Expenses 2024: $3,149,439Net Income 2024: -$152,5912024

Highlighted filing

2022

Revenue$1,765,053
Expenses$1,420,478
Net Income$344,575
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 23, 2023
Return Version
2022v5.0
Gross Receipts
$1,824,211
Mission and Program Overview

Mission

The mission of project purple is to raise awareness and funds toward a cure of pancreatic cancer. In addition, project purple motivates people to run in world renowned marathons and half marathons to raise mission critical funds.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$820,967$971,816▲ $150,849
Savings and Temporary Cash Investments-$350,004-
Pledges and Grants Receivable$92,607$45,788▼ $46,819
Prepaid Expenses and Deferred Charges$58,397$42,929▼ $15,468
Accounts Receivable$105,439$32,422▼ $73,017
Inventories for Sale or Use$18,758$21,169▲ $2,411
Intangible Assets$16,980$15,914▼ $1,066
Land, Buildings, and Equipment, Net$6,564$5,238▼ $1,326
Total Assets$1,123,712$1,495,812▲ $372,100
Other Assets Total$4,000$10,532▲ $6,532
Liabilities
Accounts Payable and Accrued Expenses$57,882$80,645▲ $22,763
Other Liabilities$2,250$7,012▲ $4,762
Total Liabilities$60,132$87,657▲ $27,525
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,030,299$1,306,618▲ $276,319
Net Assets With Donor Restrictions$33,281$101,537▲ $68,256
Total Net Assets Fund Balance$1,063,580$1,408,155▲ $344,575
Total Liabilities and Net Assets / Fund Balance$1,123,712$1,495,812▲ $372,100

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,238$29,615$34,853
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sandino VerrelliFounder andFT$160,668$2,274$162,942
Sandino VerrelliFounder and CEO-$132,404$30,538$162,942

Board Members and Trustees

NameTitle
Bryan LivelyPresident
Andrew Polio - OutgoingDirector
Brent SheehanDirector
Bret SchipperDirector
Tony LuongoDirector
Kathleen BalducciSecretary
Alex PaliosTreasurer
Brian ZellnerVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,729,998
Program Service Revenue
$31,579
Investment Income
$5,874
Other Revenue
$-2,398
All Other Contributions
$1,699,216
Change in Net Assets
$344,575

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,765,053
Total Revenue per Audited Statements
$1,765,053
Total Revenue per Form 990
$1,765,053
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$624,581
Salaries, Compensation, and Employee Benefits$452,920
Grants and Similar Amounts Paid$342,977
Total Fundraising Expense$62,957
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$149,333$35,404$23,905$208,642
Grants to Domestic Orgs$203,700--$203,700
Current Officers, Directors, Trustees, and Key Employees$136,040$36,277$9,069$181,386
Grants to Domestic Individuals$139,277--$139,277
Advertising$134,780$183-$134,963
Office Expenses$49,000$10,711$11,918$71,629
Fees for Services Other$47,228$79$7,020$54,327
Travel$48,557--$48,557
Other Employee Benefits$25,403$6,380$2,935$34,718
Information Technology$22,465$4,812$2,838$30,115
Payroll Taxes$20,614$5,178$2,382$28,174
Occupancy$19,604$4,199$2,477$26,280
Other Expenses$21,340--$21,340
All Other Expenses$13,769$1,445-$15,214
Fees for Services Legal-$6,365-$6,365
Depreciation Depletion$3,269$699$413$4,381
Insurance$2,523$1,454-$3,977
Fees for Services Accounting-$2,142-$2,142
Total Functional Expenses$1,242,193$115,328$62,957$1,420,478

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,420,478
Total Expenses per Audited Statements$1,420,478
Total Expenses per Form 990$1,420,478
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Arbor Research CollaborativeAnn Arbor, MI501c3Cancer Research$125,000
Hartford HospitalHartford, CT501c3Cancer Research$75,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$55,955
Fundraising Gross Income$47,700
Gaming Gross Income$4,570
Gaming Direct Expenses$958
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Outing Eve$78,482$47,700-$47,700
Total Events$78,482$47,700$55,955$-8,255
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$7,012
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
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
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The founder and ceo reviews the 990 tax return upon receipt from the preparer. Once the 990 is approved internally, the 990 is forwarded to the chair of the audit committee for review. Once approved by the committee chair, the founder and ceo then signs the return.

Form 990, Page 6, Part VI, Line 12C

Each director, principal officer and member of a committee with governing board delegated powers annually signs a statement which affirms each person: a. Has received a copy of the conflicts of interest policy, b. Has read and understands the policy, c. Has agreed to comply with the policy, and d. Understands the organization is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax-exempt purposes. Determining whether a conflict of interest exists: after disclosure of the possible conflict of interest and all material facts, and after any discussion with the interested person, he/she shall leave the governing board or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board or committee members shall decide if a conflict of interest exists. Procedures for addressing the conflict of interest: a. An interested person may make a presentation at the governing board or committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. B. The chairperson of the governing board or committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. C. After exercising due diligence, the governing board or committee shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. D. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the governing board or committee shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination it shall make its decision as whether to enter into the transaction or arrangement.

Form 990, Page 6, Part VI, Line 15A

The process for determining employee compensation applies to the compensation determination of the founder and ceo of the organization. The process includes all of these elements: 1) review and approval by the board of directors of the organization; 2) use of data as to comparable compensation; and 3) contemporaneous documentation and recordkeeping. 1) review and approval - the compensation of the founder and ceo is reviewed and approved by an appointed subcommittee of the board of directors of the organization. The compensation is then approved by the entire board of directors. Any persons with conflict of interests with respect to the compensation arrangement at issue are not involved in this review and approval. 2) use of data as to comparable compensation - the compensation of the founder and ceo is reviewed and approved using data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. 3) contemporaneous documentation and recordkeeping - there is contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.

Form 990, Page 6, Part VI, Line 19

These documents and policies are provided upon request.

Filing and Contact Details

Filer

Filer Name
Project Purple Inc
EIN
27-3492063
Phone
2037146052
Address
115 MAIN STREET SUITE 1, SEYMOUR, CT 06483

Signing Officer

Name
Sandino Verrelli
Title
Founder and CEO
Phone
2037146052
Signed
2023-10-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sandino Verrelli
Formed
2010
Legal Domicile
Ct
Voting Board Members
8
Independent Board Members
7
Employees
13
Volunteers
25

Preparer

Firm
Kendall Prebola and Jones LLC
Address
PO BOX 259, BEDFORD, PA 15522-0259
Preparer
Richard M Jones CPA
Phone
8146231880
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of project purple is to raise awareness and funds toward a cure of pancreatic cancer. In addition, project purple motivates people to run in world renowned marathons and half marathons to raise mission critical funds.

Form 990, Page 1, Part I, Line 6

8 of the volunteers consist of board members.

Form 990, Page 2, Part III, Line 4B

Research, scholarships and patient aid project purple has become a leading provider of financial aid to families battling pancreatic cancer. We offer grants to families that are battling this disease from all over the united states. We offer financial assistance with housing, utilities, medical, and we also have a miscellaneous category that has been used to cover things like gas, alternative lodging, and anything not covered in the other categories. Patients are eligible to apply once every 12 months and our typical cycle lasts anywhere from 3-4 weeks, depending on the application, if all the requirements are in good order. We require patients to submit proof of diagnosis and current protocol, photo id, previous year's tax filing, as well as any bills that they are looking for assistance with. Project purple is committed to funding critical research towards a cure and early detection of pancreatic cancer. Project purple has funded over 2,000,000 since inception for clinical and scientific research towards its mission with some of the top scientists and doctors in the united states working towards that goal. Our research approach is to assist in funding of this critical research with some of the top scientists and doctors in the united states. The scope of the many projects has ranged from immunology, early detection, basic science, clinical trials and much more.

Financial Statement Notes

Schedule D, Page 3, Part X

Accounting principles generally accepted in the united states of america provide consistent guidance for the accounting for uncertainty in income taxes recognized in project purple's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. Project purple performed an evaluation of uncertain tax positions for the year ended december 31, 2022, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. As of december 31, 2022, the statute of limitations for tax years 2019 through 2021 remains open with the u.s. Federal jurisdiction or the various states and local jurisdictions in which project purple files tax returns. It is project purple's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of december 31, 2022, project purple had no accruals for interest and/or penalties.

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IRS990/MissionDesc0THE MISSION OF PROJECT PURPLE IS TO RAISE AWARENESS AND FUNDS TOWARD A CURE OF PANCREATIC CANCER. IN ADDITION, PROJECT PURPLE MOTIVATES PEOPLE TO RUN IN WORLD RENOWNED MARATHONS AND HALF MARATHONS TO RAISE MISSION CRITICAL FUNDS.
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IRS990/OtherExpensesGrp/Desc0RACE REG. AND SUPPLIES
IRS990/OtherExpensesGrp/Desc1APPAREL
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IRS990/ProgSrvcAccomActy2Grp/Desc0RESEARCH, SCHOLARSHIPS AND PATIENT AID PROJECT PURPLE HAS BECOME A LEADING PROVIDER OF FINANCIAL AID TO FAMILIES BATTLING PANCREATIC CANCER. WE OFFER GRANTS TO FAMILIES THAT ARE BATTLING THIS DISEASE FROM ALL OVER THE UNITED STATES. WE OFFER FINANCIAL ASSISTANCE WITH HOUSING, UTILITIES, MEDICAL, AND WE ALSO HAVE A MISCELLANEOUS CATEGORY THAT HAS BEEN USED TO COVER THINGS LIKE GAS, ALTERNATIVE LODGING, AND ANYTHING NOT COVERED IN THE OTHER CATEGORIES. PATIENTS ARE ELIGIBLE TO APPLY ONCE EVERY 12 MONTHS AND OUR TYPICAL CYCLE LASTS ANYWHERE FROM 3-4 WEEKS, DEPENDING ON THE APPLICATION, IF ALL THE REQUIREMENTS ARE IN GOOD ORDER. WE REQUIRE PATIENTS TO SUBMIT PROOF OF DIAGNOSIS AND CURRENT PROTOCOL, PHOTO ID, PREVIOUS YEAR'S TAX FILING, AS WELL AS ANY BILLS THAT THEY ARE LOOKING FOR ASSISTANCE WITH. PROJECT PURPLE IS COMMITTED TO FUNDING CRITICAL RESEARCH TOWARDS A CURE AND EARLY DETECTION OF PANCREATIC CANCER. PROJECT PURPLE HAS FUNDED OVER 2,000,000 SINCE INCEPTION FOR CLINICAL AND SCIENTIFIC RESEARCH TOWARDS ITS MISSION WITH SOME OF THE TOP SCIENTISTS AND DOCTORS IN THE UNITED STATES WORKING TOWARDS THAT GOAL. OUR RESEARCH APPROACH IS TO ASSIST IN FUNDING OF THIS CRITICAL RESEARCH WITH SOME OF THE TOP SCIENTISTS AND DOCTORS IN THE UNITED STATES. THE SCOPE OF THE MANY PROJECTS HAS RANGED FROM IMMUNOLOGY, EARLY DETECTION, BASIC SCIENCE, CLINICAL TRIALS AND MUCH MORE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0415087
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0INVENTORY SALES 42,561
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING LEASE LIABILITY
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN PROJECT PURPLE'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. PROJECT PURPLE PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2022, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF DECEMBER 31, 2022, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2019 THROUGH 2021 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH PROJECT PURPLE FILES TAX RETURNS. IT IS PROJECT PURPLE'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. AS OF DECEMBER 31, 2022, PROJECT PURPLE HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt111763
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0PATIENT FINANCIAL AID
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt1PATIENT CARE PACKAGES
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0BLANKETS
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0187
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt1476
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IRS990ScheduleI/RecipientTable/IRCSectionDesc1501C3
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0CANCER RESEARCH

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.23$0.53$1.70$3.00$3.15$0.15
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.94$0.09$1.86$2.56$2.11$0.45
2022Detailed filing. Detailed filing data is available for this year.$1.50$0.09$1.41$1.77$1.42$0.34
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.12$0.06$1.06$1.39$1.06$0.33
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.74$0.01$0.73$0.93$0.79$0.15
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.65$0.07$0.59$1.48$1.52$0.04
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.67$0.04$0.63$1.44$1.05$0.38
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.40$0.16$0.24$1.05$1.02$0.04
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.48$0.27$0.21$1.20$1.11$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.27$0.83$0.73$0.10
2014Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$0.49$0.45$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.14$0.00$0.14$0.24$0.14$0.09
Peer Organizations

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