Civic Intelligence

Trinity Basin Preparatory Inc.

990 • Fiscal year 2022 • EIN 31-1614490

Sep 01, 2021 to Aug 31, 2022 • Filed on Mar 02, 2023

Organization Profilewww.trinitybasin.net
2730 N State Highway 360Grand Prairie, TX 75050

(214) 946-9100

Siviq Scores

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

Liabilities / Assets

81st percentile

0.76x

Higher debt load relative to assets than 81% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

82nd percentile

1.94x

Higher debt load relative to revenue than 82% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Net Margin

61st percentile

9.9%

Higher net margin than 61% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

31st percentile

$333,160

Higher top officer pay than 31% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2022

Asset Growth

93rd percentile

38%

Faster asset growth than 93% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

53rd percentile

5.5%

Faster revenue growth than 53% of similar nonprofits.

2022 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$147,305,445

Up $40,567,663 (+38%) from 2021

Net Assets

Up

$36,028,331

Up $5,343,287 (+17%) from 2021

Liabilities

Up

$111,277,114

Up $35,224,376 (+46%) from 2021

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin61st percentile

Revenue

Up

$57,426,553

Up $3,011,184 (+5.5%) from 2021

Expenses

Up

$51,723,266

Up $8,262,115 (+19%) from 2021

Net Income

Down

$5,703,287

Down $5,250,931 (-48%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$300M$200M$100M$0-$100MAssets 2011: $8,956,155Liabilities 2011: $6,690,399Net Assets 2011: $2,265,7562011Assets 2012: $10,860,250Liabilities 2012: $9,202,035Net Assets 2012: $1,658,2152012Assets 2013: $10,365,247Liabilities 2013: $9,149,280Net Assets 2013: $1,215,9672013Assets 2014: $31,392,563Liabilities 2014: $31,691,848Net Assets 2014: -$299,2852014Assets 2015: $32,210,254Liabilities 2015: $32,415,132Net Assets 2015: -$204,8782015Assets 2016: $32,501,437Liabilities 2016: $32,448,791Net Assets 2016: $52,6462016Assets 2017: $33,602,303Liabilities 2017: $30,893,678Net Assets 2017: $2,708,6252017Assets 2018: $53,061,020Liabilities 2018: $46,220,211Net Assets 2018: $6,840,8092018Assets 2019: $63,208,912Liabilities 2019: $49,650,007Net Assets 2019: $13,558,9052019Assets 2020: $103,690,444Liabilities 2020: $83,959,618Net Assets 2020: $19,730,8262020Assets 2021: $106,737,782Liabilities 2021: $76,052,738Net Assets 2021: $30,685,0442021Assets 2022: $147,305,445Liabilities 2022: $111,277,114Net Assets 2022: $36,028,3312022Assets 2023: $235,327,976Liabilities 2023: $198,514,574Net Assets 2023: $36,813,4022023Assets 2024: $293,837,699Liabilities 2024: $246,874,702Net Assets 2024: $46,962,9972024

Highlighted filing

2022

Assets$147,305,445
Liabilities$111,277,114
Net Assets$36,028,331
Open 2022 Filing

Operations Trend

Revenue Growth53rd percentile

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

$100M$50M$0Expenses 2011: $13,152,1432011Expenses 2012: $12,761,8642012Expenses 2013: $14,523,4532013Revenue 2014: $15,875,147Expenses 2014: $15,643,209Net Income 2014: $231,9382014Revenue 2015: $17,207,087Expenses 2015: $17,112,680Net Income 2015: $94,4072015Revenue 2016: $22,250,417Expenses 2016: $21,992,893Net Income 2016: $257,5242016Revenue 2017: $26,600,972Expenses 2017: $23,944,993Net Income 2017: $2,655,9792017Revenue 2018: $30,754,444Expenses 2018: $26,622,260Net Income 2018: $4,132,1842018Revenue 2019: $37,343,541Expenses 2019: $32,786,751Net Income 2019: $4,556,7902019Revenue 2020: $43,015,741Expenses 2020: $36,843,820Net Income 2020: $6,171,9212020Revenue 2021: $54,415,369Expenses 2021: $43,461,151Net Income 2021: $10,954,2182021Revenue 2022: $57,426,553Expenses 2022: $51,723,266Net Income 2022: $5,703,2872022Revenue 2023: $67,708,404Expenses 2023: $66,923,333Net Income 2023: $785,0712023Revenue 2024: $96,391,446Expenses 2024: $86,241,851Net Income 2024: $10,149,5952024

Highlighted filing

2022

Revenue$57,426,553
Expenses$51,723,266
Net Income$5,703,287
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2021 to Aug 31, 2022
Signed
Mar 2, 2023
Return Version
2021v4.1
Gross Receipts
$57,426,553
Mission and Program Overview

Mission

Provide a safe, disciplined learning environment in which every student can succeed. We seek to provide every student with basic tools necessary to build a solid foundation for future educational, business and social success.

The mission of trinity basin preparatory is to provide a meaningful educational choice to families across texas. We do this by building and maintaining a system of charter schools that are academically successful and financially strong. Trinity basin preparatory will be a safe, sustainable, innovative, and successful charter district, empowering students and their families with educational opportunity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$81,195,981$114,639,094▲ $33,443,113
Cash and Non-Interest-Bearing Accounts$8,721,179$18,861,414▲ $10,140,235
Savings and Temporary Cash Investments$6,390,622$0▼ $6,390,622
Pledges and Grants Receivable-$6,327,684-
Other Notes and Loans Receivable, Net$6,058,000$6,058,000→ $0
Accounts Receivable$4,183,112$0▼ $4,183,112
Investments in Publicly Traded Securities-$921,058-
Loans From Officers Directors$480,000--
Prepaid Expenses and Deferred Charges$162,437$471,743▲ $309,306
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$106,737,782$147,305,445▲ $40,567,663
Other Assets Total$26,451$26,452▲ $1
Liabilities
Tax Exempt Bond Liabilities$64,798,425$63,709,217▼ $1,089,208
Mortgage Notes Payable Secured by Investment Property$4,550,000$40,000,000▲ $35,450,000
Accounts Payable and Accrued Expenses$5,330,813$7,441,384▲ $2,110,571
Unsecured Notes Loans Payable$665,000--
Deferred Revenue$228,500$90,000▼ $138,500
Other Liabilities-$36,513-
Total Liabilities$76,052,738$111,277,114▲ $35,224,376
Net Assets / Fund Balance
Net Assets With Donor Restrictions$21,887,193$26,694,623▲ $4,807,430
Net Assets Without Donor Restrictions$8,797,851$9,333,708▲ $535,857
Total Net Assets Fund Balance$30,685,044$36,028,331▲ $5,343,287
Total Liabilities and Net Assets / Fund Balance$106,737,782$147,305,445▲ $40,567,663

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$74,706,185$9,741,450$84,447,635
Other Land Buildings$22,604,327$2,813,955$25,418,282
Land$17,160,107-$17,160,107
Equipment$168,475$106,911$275,386
Compensation and Service Providers
Top Officer Pay31st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Randal ShafferCEO & PresidentFT$300,000$33,006$333,160
Brandon DuckCDOFT$150,000$32,848$182,694
Lesley AustinCAOFT$150,000$32,694$182,694
James DworkinCFOFT$81,000$23,694$104,694
Brian FrancisCOOFT$71,669$14,025$85,694
Julia GomezDirectorPT$33,247$3,522$36,769
Robert Varner-thru Feb 2021COO & SecretaryFT$18,128$3,872$22,000

Board Members and Trustees

NameTitle
Loren HitchcockChairman
Kenneth PetreeVice President
Dana BickfordDirector
Frederick BrownDirector
Mike WinemillerDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Butler-cohen DesignbuildGeneral Contractor3200 SOUTHWEST FRWY 1575, Houston, TX 77027$4,313,501
Cdw-governmentTechnology75 REMITTANCE DR 1515, Chicago, IL 60675$2,200,379
Twelve Oaks CateringFood CateringPO BOX 542585, Dallas, TX 75354$1,192,749
Pbs Of Texas PredictableCleaning And Sanitation3456 ALEMEDA 448, Fort Worth, TX 76126$739,779
Procomputing CorporationTechnology1160 MUSTANG DR, Dfw Airport, TX 75261$473,721
Revenue and Support

Revenue Composition

Contributions and Grants
$12,307,223
Program Service Revenue
$45,049,305
Investment Income
$70,025
Other Revenue
$0
Change in Net Assets
$5,703,287
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$34,771,937
Other Expenses$16,951,329
Total Fundraising Expense$105,581
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$26,270,324$3,845,987$8,875$30,125,186
Depreciation Depletion$4,225,512--$4,225,512
Occupancy$2,855,650--$2,855,650
Interest$2,324,958$1,137-$2,326,095
Fees for Services Other$1,670,567$377,342-$2,047,909
Pension Plan Contributions$1,457,986$174,672$483$1,633,141
Other Employee Benefits$1,239,760$168,274$2,130$1,410,164
Current Officers, Directors, Trustees, and Key Employees$313,305$754,252$92,831$1,160,388
Other Expenses$734,717$103,670-$838,387
Payroll Taxes$379,436$62,360$1,262$443,058
Insurance$399,726$16,786-$416,512
Fees for Services Accounting-$49,150-$49,150
Travel$47,923$119-$48,042
Fees for Services Legal-$18,399-$18,399
Total Functional Expenses$45,357,427$6,260,258$105,581$51,723,266
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$480,000--
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Refundable Advance$36,513

Bond Issues

BondIssuerIssuedIssue PricePurpose
BArl Edu Fin Corp 20202011-05-01$35,545,000SCHOOL CONSTRUCTION
AArl Edu Fin Corp 2014a2014-08-15$29,457,040Finance acquisition,

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
B$42,285,692-$1,135,000$817,797
A$29,457,040$6,000,000$3,169,960$162,032

Bond Financing Compliance

Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
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 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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The Form 990 is reviewed by the CFO and CEO/President for accuracy and content. The final Form 990 is sent to the Board of Directors prior to filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Board members recuse themselves from any vote which may seem prejudicial based upon interests.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“To determine the CEO's compensation, the Board considers relevant experience, education and the TEA's public listing of Superintendent salaries at comparable charter schools.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“To determine key employee salaries, the CEO considers education, experience and daily rate of comparable jobs within the education field.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Governing documents, policies and financial statements are available upon request.”

Filing and Contact Details

Filer

Filer Name
Trinity Basin Preparatory Inc
EIN
31-1614490
Phone
2149469100
Address
2730 N STATE HIGHWAY 360, GRAND PRAIRIE, TX 75050

Signing Officer

Name
Randal Shaffer
Title
CEO & President
Signed
2023-03-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Randal Shaffer
Formed
1998
Legal Domicile
TX
Voting Board Members
7
Independent Board Members
5
Employees
856
Volunteers
320

Preparer

Firm
Sutton Frost Cary LLP
Address
600 Six Flags Dr Suite 600, Arlington, TX 76011
Preparer
Carroll Elizabeth Arnott
Phone
8176498083
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“TBP and the Project are exempt from federal income taxes under Section 501(c)(3) and Section 501(c)(2), respectively of the Internal Revenue Code (Code) and are not private foundations as defined in the Code. Income generated from activities unrelated to the Schools exempt purposes is subject to tax under Code Section 511. The School had no unrelated business income for the year ended August 31, 2022. Accordingly, no provision has been made for federal income tax.GAAP requires the evaluation of tax positions taken in the course of preparing the Schools tax returns and recognition of a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the Internal Revenue Service. Management has analyzed the tax positions taken by the School, and has concluded that as of August 31, 2022, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements.”

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IRS990/Desc0Provide a well-rounded and rigorous education to our students focusing on the core academic areas of reading, writing, math, science and social studies. Expectations are very high for students and faculty in order to foster an environment of achievement and success. Teachers who are successful within our organization understand the need to reach each individual student, regardless of any perceived learning barriers. At Trinity Basin Preparatory, we believe every child can succeed, and our teachers, staff, and administrators are all dedicated to that success.In the fiscal year ended August 31, 2022 TBP had over 4,200 students. Over 90% of students are considered Economically Disadvantaged and about 60% were classified as Limited English Proficient (LEP). During the year TBP served over 698,000 total meals of which over 635,000 were either free or sold at reduced cost. All meals meet the regulations outlined in the final rule (77 FR 4088) titled Nutrition Standards in the National School Lunch and School Breakfast Program related to the Healthy, Hunger-Free Kids Act in 2010 and 2010 Dietary Guidelines for Americans.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0CEO & PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt2CAO
IRS990/Form990PartVIISectionAGrp/TitleTxt3CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt4COO
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6COO & SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt7Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
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IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Provide a safe, disciplined learning environment in which every student can succeed. We seek to provide every student with basic tools necessary to build a solid foundation for future educational, business and social success.
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02130
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt0168274
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt01239760
IRS990/OtherEmployeeBenefitsGrp/TotalAmt01410164
IRS990/OtherExpensesGrp/Desc0SUPPLIES/MATERIALS
IRS990/OtherExpensesGrp/Desc1FOOD
IRS990/OtherExpensesGrp/Desc2MISCELLANEOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0688110
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1103670
IRS990/OtherExpensesGrp/ProgramServicesAmt01624057
IRS990/OtherExpensesGrp/ProgramServicesAmt11813506
IRS990/OtherExpensesGrp/ProgramServicesAmt2734717
IRS990/OtherExpensesGrp/TotalAmt02312167
IRS990/OtherExpensesGrp/TotalAmt11813506
IRS990/OtherExpensesGrp/TotalAmt2838387
IRS990/OtherLiabilitiesGrp/EOYAmt036513
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt08875
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt03845987
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt026270324
IRS990/OtherSalariesAndWagesGrp/TotalAmt030125186
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt01262
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt062360
IRS990/PayrollTaxesGrp/ProgramServicesAmt0379436
IRS990/PayrollTaxesGrp/TotalAmt0443058
IRS990/PensionPlanContributionsGrp/FundraisingAmt0483
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt0174672
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt01457986
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IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611600
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IRS990/ProgramServiceRevenueGrp/Desc2STATE PROGRAM REVENUE
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IRS990/ReconcilationRevenueExpnssAmt05703287
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IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0true
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt045049305
IRS990/RoyaltiesGrp/TotalAmt00
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IRS990/SavingsAndTempCashInvstGrp/BOYAmt06390622
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$147,305,445
Liabilities
$111,277,114
Net assets
$36,028,331
Revenue
$57,426,553
Expenses
$51,723,266
Net income
$5,703,287
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$294$247$47.0$96.4$86.2$10.1
2023Detailed filing. Detailed filing data is available for this year.$235$199$36.8$67.7$66.9$0.79
2022Detailed filing. Detailed filing data is available for this year.$147$111$36.0$57.4$51.7$5.70
2021Detailed filing. Detailed filing data is available for this year.$107$76.1$30.7$54.4$43.5$11.0
2020Detailed filing. Detailed filing data is available for this year.$104$84.0$19.7$43.0$36.8$6.17
2019Detailed filing. Detailed filing data is available for this year.$63.2$49.7$13.6$37.3$32.8$4.56
2018Detailed filing. Detailed filing data is available for this year.$53.1$46.2$6.84$30.8$26.6$4.13
2017Detailed filing. Detailed filing data is available for this year.$33.6$30.9$2.71$26.6$23.9$2.66
2016Detailed filing. Detailed filing data is available for this year.$32.5$32.4$0.05$22.3$22.0$0.26
2015Detailed filing. Detailed filing data is available for this year.$32.2$32.4$0.20$17.2$17.1$0.09
2014Detailed filing. Detailed filing data is available for this year.$31.4$31.7$0.30$15.9$15.6$0.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.4$9.15$1.22$14.5
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.9$9.20$1.66$12.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.96$6.69$2.27$13.2