Civic Intelligence

Old Brooklyn Community Development Corporation

990 • Fiscal year 2020 • EIN 34-1177633

Jul 01, 2019 to Jun 30, 2020 • Filed on Nov 23, 2020

4274 Pearl RoadCleveland, OH 44109

(216) 459-1000

Siviq Scores

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

Liabilities / Assets

85th percentile

0.64x

Higher debt load relative to assets than 85% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

83rd percentile

0.81x

Higher debt load relative to revenue than 83% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

66th percentile

14%

Higher net margin than 66% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

68th percentile

$96,845

Higher top officer pay than 68% of similar nonprofits.

Top officer pay equals 8.1% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

79th percentile

30%

Faster asset growth than 79% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

74th percentile

19%

Faster revenue growth than 74% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$1,510,217

Up $347,126 (+30%) from 2019

Net Assets

Up

$545,273

Up $158,518 (+41%) from 2019

Liabilities

Up

$964,944

Up $188,608 (+24%) from 2019

Revenue

Up

$1,196,973

Up $191,662 (+19%) from 2019

Expenses

Up

$1,023,932

Up $93,809 (+10%) from 2019

Net Income

Up

$173,041

Up $97,853 (+130%) from 2019

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $250,985Liabilities 2011: $93,330Net Assets 2011: $157,6552011Assets 2012: $333,422Liabilities 2012: $171,655Net Assets 2012: $161,7672012Assets 2013: $266,036Liabilities 2013: $102,970Net Assets 2013: $163,0662013Assets 2014: $444,143Liabilities 2014: $181,129Net Assets 2014: $263,0142014Assets 2015: $416,692Liabilities 2015: $130,876Net Assets 2015: $285,8162015Assets 2016: $377,564Liabilities 2016: $67,873Net Assets 2016: $309,6912016Assets 2017: $475,000Liabilities 2017: $185,140Net Assets 2017: $289,8602017Assets 2018: $555,980Liabilities 2018: $244,413Net Assets 2018: $311,5672018Assets 2019: $1,163,091Liabilities 2019: $776,336Net Assets 2019: $386,7552019Assets 2020: $1,510,217Liabilities 2020: $964,944Net Assets 2020: $545,2732020Assets 2021: $2,466,436Liabilities 2021: $1,968,804Net Assets 2021: $497,6322021Assets 2022: $2,189,165Liabilities 2022: $1,620,875Net Assets 2022: $568,2902022Assets 2025: $3,811,920Liabilities 2025: $1,202,813Net Assets 2025: $2,609,1072025

Highlighted filing

2020

Assets$1,510,217
Liabilities$964,944
Net Assets$545,273

Operations Trend

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $745,0402011Expenses 2012: $745,1692012Expenses 2013: $745,3292013Revenue 2014: $712,929Expenses 2014: $612,981Net Income 2014: $99,9482014Revenue 2015: $691,955Expenses 2015: $669,153Net Income 2015: $22,8022015Revenue 2016: $818,765Expenses 2016: $794,890Net Income 2016: $23,8752016Revenue 2017: $796,618Expenses 2017: $816,449Net Income 2017: -$19,8312017Revenue 2018: $922,152Expenses 2018: $900,445Net Income 2018: $21,7072018Revenue 2019: $1,005,311Expenses 2019: $930,123Net Income 2019: $75,1882019Revenue 2020: $1,196,973Expenses 2020: $1,023,932Net Income 2020: $173,0412020Revenue 2021: $1,217,909Expenses 2021: $1,265,550Net Income 2021: -$47,6412021Revenue 2022: $1,368,369Expenses 2022: $1,297,711Net Income 2022: $70,6582022Revenue 2025: $3,396,563Expenses 2025: $1,597,358Net Income 2025: $1,799,2052025

Highlighted filing

2020

Revenue$1,196,973
Expenses$1,023,932
Net Income$173,041
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Nov 23, 2020
Return Version
2019v5.0
Gross Receipts
$1,226,726
Mission and Program Overview

Mission

The mission of obcdc is to grow old brooklyn through empowered partnerships, leadership, programming, and advocacy.

The mission of obcdc is to develop and revitalize the community by uniting and empowering residents, business leaders and government around plans and initiatives that achieve social, economic and civic improvement.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$742,929$1,056,278▲ $313,349
Cash and Non-Interest-Bearing Accounts$39,598$176,689▲ $137,091
Pledges and Grants Receivable$277,328$151,938▼ $125,390
Accounts Receivable$7,706$22,565▲ $14,859
Prepaid Expenses and Deferred Charges$4,799$5,480▲ $681
Savings and Temporary Cash Investments$20,212$126▼ $20,086
Total Assets$1,163,091$1,510,217▲ $347,126
Other Assets Total$70,519$97,141▲ $26,622
Liabilities
Mortgage Notes Payable Secured by Investment Property$653,047$876,566▲ $223,519
Accounts Payable and Accrued Expenses$73,461$58,162▼ $15,299
Other Liabilities$39,828$30,216▼ $9,612
Deferred Revenue$10,000--
Total Liabilities$776,336$964,944▲ $188,608
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$386,755$452,897▲ $66,142
Net Assets With Donor Restrictions-$92,376-
Total Net Assets Fund Balance$386,755$545,273▲ $158,518
Total Liabilities and Net Assets / Fund Balance$1,163,091$1,510,217▲ $347,126

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,006,379$24,224$1,030,603
Equipment$21,957$15,779$37,736
Land$26,400-$26,400
Other Land Buildings$1,542$13,549$15,091
Other Assets Org$89--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jeffrey VerespejExecutive DiFT$75,896$20,949$96,845
Mike CaparanisDirector-$15,225-$15,225
Kristen WilsonPresidentPT-$3,125$3,125

Board Members and Trustees

NameTitle
David MargoliusDirector
John JenkinsDirector
Ramon ClaudioDirector
Reggie ClarkDirector
Richey PiiparinenDirector
Sean McgraneDirector
David MartinPast Preside
Fr Doug BrownSecretary
David RobinsonTreasurer
Tiffany SedlacekVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,156,561
Program Service Revenue
$2,984
Investment Income
$2
Other Revenue
$37,426
All Other Contributions
$465,048
Change in Net Assets
$173,041

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,196,973
Total Revenue per Audited Statements
$1,196,973
Total Revenue per Form 990
$1,196,973
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$616,075
Other Expenses$407,857
Total Fundraising Expense$54,087
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$363,195$23,696$27,394$414,285
Other Employee Benefits$70,876$5,813$4,540$81,229
Current Officers, Directors, Trustees, and Key Employees$64,512$11,384-$75,896
Office Expenses$63,111$6,199$1,845$71,155
Fees for Services Accounting$979$68,163-$69,142
Payroll Taxes$32,715$2,683$2,095$37,493
Advertising$32,096$1,546-$33,642
Occupancy$27,971$1,113$870$29,954
Interest$23,771$4,102-$27,873
Insurance$7,100$289$226$7,615
Pension Plan Contributions$6,258$513$401$7,172
Depreciation Depletion-$6,763-$6,763
Conferences and Meetings$4,591$376$294$5,261
Other Expenses$2,204$2,080$16,354$2,204
Travel$1,059$87$68$1,214
Total Functional Expenses$835,038$134,807$54,087$1,023,932

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$1,023,932
Expenses per Audited Statements$1,021,870
Total Expenses per Audited Statements$1,021,870
Expenses Not Reported on Financial Statements$2,062
Other Expense Adjustments$2,062
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Jac CreativeOwnerServiceNo$20,625
Kristen Wilson DesignOwnerServiceNo$1,062
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payables-trust Funds$16,445
Accrued Real Estate Tax$9,601
Accrued Vacation$2,631
Security Deposits$1,291
Credit Card$248
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
Yes
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 finance committee reviewed the federal form 990 prior to filing.

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

At the first board meeting each year, each board member is asked to read the organization's conflict of interest policy and then sign a statement describing conflicts they may have, if any.

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

The executive director's salary is recommended by the executive committee and approved by the entire board of directors. The executive committee uses various sources such as other organizations' federal 990, industry standard and the limited finances of the organization.

Form 990, Page 6, Part VI, Line 19

Consistent with the requirements of section 6104(d) of the irc and the regulations thereunder, copies of the organization's form 990 and governing documents shall be made available upon request, in a timely manner, and subject to the charges permitted by law to any individuals who request it.

Filing and Contact Details

Filer

Filer Name
Old Brooklyn Community Development
EIN
34-1177633
Phone
2164591000
Address
4274 PEARL ROAD, CLEVELAND, OH 44109

Signing Officer

Name
Jeffrey Verespej
Title
Executive Director
Phone
2164591000
Signed
2020-11-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Verespej
Formed
1975
Legal Domicile
Oh
Voting Board Members
12
Independent Board Members
11
Employees
18
Volunteers
100

Preparer

Firm
Koester Disalvo and Fried
Address
5587 TURNEY ROAD, GARFIELD HTS, OH 44125
Preparer
Kc Koester
Phone
2164757844
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

Volunteers help old brooklyn community development corporation in numerous ways. Beyond the work of the board of directors, volunteers directly assist obcdc with numerous committees. These committees meet on a monthly basis to plan programs, direct policy, and bring resources to the community. The committees include but are not limited to impact on housing and economic development, marketing and special events, community health and education, greenspace, and fundraising. In addition, obcdc volunteers lead community groups that have tremendous impact on the neighborhood. These include neighborhood block clubs, interest based groups, community gardens, and school or youth based programs. These volunteers put in countless hours to maintain community assets, build programming, and support other neighbors. Lastly, hundreds of volunteers assist in one-time or one-program needs. These include but are not limited to summer events such as a farmers market, movie night, and a street festival but also home repairs and yardwork for low incomes seniors in old brooklyn.

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

Residential services obcdc provides services to neighborhood residents. This is both an emphasis on quality of life enhancements as well as a focus on residential rehabilitation and renovations in old brooklyn. With an emphasis on community health, obcdc assesses and intervenes on the health of the neighborhood in relation to greenspace, food access, transportation, economic opportunity, chronic disease, resource availability, and substance use. Obcdc connects residents to resources and programs for home repair, hosts educational classes on home purchases and home repairs, completes safe and secure repairs for low-income senior citizens, distributes energy efficient light bulbs for outdoor usage that promotes safety, encourages property owners to voluntarily comply with the cleveland building code, monitors properties through the cleveland housing court, provides rain barrels and street trees to homeowners, and organizes homeowners around safety. Obcdc purchases and rehabilitates vacant and substandard housing for sale to owner occupants. Obcdc hosts hundreds of community meetings with residents, teachers, students, and parents to build a stronger community. Obcdc operates the largest community garden in the state of ohio and assists on vacant land clean-ups and reutilization.

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

Marketing and events obcdc publishes a variety of communications to inform and connect old brooklyn residents. Obcdc publishes a quarterly version of the old brooklyn news, a community magazine with a distribution to over 17,000 houses. Additionally, obcdc manages www.oldbrooklyn.com and delivers an every-other week e-newsletter with community events and programs. Obcdc manages multiple social media channels that when combined with the e-news reach over 20,000 individuals. Obcdc hosts a variety of events throughout the year. Smorgasbord street festival attracted over 20,000 visitors for a single day event, while the cleveland summer cinema, including the family programs and the farmers market, attracted over 20,000 visitors over the course of the summer.

Form 990, Part XI, Line 9

Loss on impairment of propety -14,523 during fiscal year ended june 30, 2020, old brooklyn cdc recoginized an imparment to a property. The recorded carrying value of this property was reduce to management's estimate fair value.

Financial Statement Notes

Schedule D, Page 3, Part X

Obcdc complies with fasb asc 740- accounting for uncertainty in income taxes. Fasb asc 740 details how companies should recognize, measure, present and disclose uncertain tax positions that have been or are expected to be taken. As such, the financial statements would reflect expected future tax consequences of uncertain tax positions presuming the taxing authorities' full knowledge of the position and all relevant facts, if they existed. Management believes that there are no uncertain tax positions. The organization's tax years that remain subject to examination by the internal revenue service are june 30, 2017 and forward.

Schedule D, Page 4, Part XII, Line 4B

Book / tax depreciation difference 2,062

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IRS990/Form990PartVIISectionAGrp/TitleTxt0EXECUTIVE DI
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8PAST PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12VICE PRESIDE
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IRS990/MissionDesc0THE MISSION OF OBCDC IS TO DEVELOP AND REVITALIZE THE COMMUNITY BY UNITING AND EMPOWERING RESIDENTS, BUSINESS LEADERS AND GOVERNMENT AROUND PLANS AND INITIATIVES THAT ACHIEVE SOCIAL, ECONOMIC AND CIVIC IMPROVEMENT.
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IRS990/OtherExpensesGrp/Desc0PROGRAM FEES
IRS990/OtherExpensesGrp/Desc1OBN-DISTRIBUTION COST
IRS990/OtherExpensesGrp/Desc2OBN-CONTRACT LABOR
IRS990/OtherExpensesGrp/Desc3CONTRIBUTIONS
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IRS990/OtherExpensesGrp/ProgramServicesAmt25339
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IRS990/OtherRevenueMiscGrp/BusinessCd0511110
IRS990/OtherRevenueMiscGrp/Desc0NEWSPAPER ADVERTISING
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IRS990/PartialLiquidationInd0false
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IRS990/PayrollTaxesGrp/ProgramServicesAmt032715
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IRS990/PensionPlanContributionsGrp/FundraisingAmt0401
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IRS990/PensionPlanContributionsGrp/TotalAmt07172
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0277328
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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt04799
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IRS990/PrincipalOfficerNm0JEFFREY VERESPEJ
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0531390
IRS990/ProgramServiceRevenueGrp/BusinessCd1812900
IRS990/ProgramServiceRevenueGrp/Desc0DEVELOPMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1MISCELLANEOUS OTHER
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01500
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11484
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11484
IRS990/ProgSrvcAccomActy2Grp/Desc0MARKETING AND EVENTS OBCDC PUBLISHES A VARIETY OF COMMUNICATIONS TO INFORM AND CONNECT OLD BROOKLYN RESIDENTS. OBCDC PUBLISHES A QUARTERLY VERSION OF THE OLD BROOKLYN NEWS, A COMMUNITY MAGAZINE WITH A DISTRIBUTION TO OVER 17,000 HOUSES. ADDITIONALLY, OBCDC MANAGES WWW.OLDBROOKLYN.COM AND DELIVERS AN EVERY-OTHER WEEK E-NEWSLETTER WITH COMMUNITY EVENTS AND PROGRAMS. OBCDC MANAGES MULTIPLE SOCIAL MEDIA CHANNELS THAT WHEN COMBINED WITH THE E-NEWS REACH OVER 20,000 INDIVIDUALS. OBCDC HOSTS A VARIETY OF EVENTS THROUGHOUT THE YEAR. SMORGASBORD STREET FESTIVAL ATTRACTED OVER 20,000 VISITORS FOR A SINGLE DAY EVENT, WHILE THE CLEVELAND SUMMER CINEMA, INCLUDING THE FAMILY PROGRAMS AND THE FARMERS MARKET, ATTRACTED OVER 20,000 VISITORS OVER THE COURSE OF THE SUMMER.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0652610
IRS990/ProgSrvcAccomActy3Grp/Desc0COMMERCIAL SERVICES OBCDC CONNECTS AND EDUCATES THE SMALL BUSINESS COMMUNITY IN OLD BROOKLYN THROUGH MONTHLY NETWORKING BREAKFASTS AND EDUCATIONAL PROGRAMS THROUGHOUT THE YEAR. ADDITIONALLY, BUSINESSES ARE REFERRED TO RESOURCES AND PROGRAMS AVAILABLE FROM THE CITY OF CLEVELAND INCLUDING FINANCING, GRANTS, TECHNICAL ASSISTANCE, AND THE STOREFRONT RENOVATION PROGRAM. ENTREPRENEURS ARE SUPPORTED THROUGH EDUCATION AND FINANCIAL RESOURCES, AND OBCDC ASSISTS SMALL BUSINESSES FIND LOCATIONS, EXPAND, AND GROW IN OLD BROOKLYN.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt062365
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0946608
IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt0339704
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IRS990/PYProgramServiceRevenueAmt019203
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc1SECURITY DEPOSIT
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ACCRUED REAL ESTATE TAX
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED VACATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3SECURITY DEPOSITS

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.81$1.20$2.61$3.40$1.60$1.80
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.19$1.62$0.57$1.37$1.30$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.47$1.97$0.50$1.22$1.27$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.51$0.96$0.55$1.20$1.02$0.17
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.16$0.78$0.39$1.01$0.93$0.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.56$0.24$0.31$0.92$0.90$0.02
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.19$0.29$0.80$0.82$0.02
2016Detailed filing. Detailed filing data is available for this year.$0.38$0.07$0.31$0.82$0.79$0.02
2015Detailed filing. Detailed filing data is available for this year.$0.42$0.13$0.29$0.69$0.67$0.02
2014Detailed filing. Detailed filing data is available for this year.$0.44$0.18$0.26$0.71$0.61$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.27$0.10$0.16$0.75
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.33$0.17$0.16$0.75
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.25$0.09$0.16$0.75