Civic Intelligence

Lorain County Chamber

990 • Fiscal year 2023 • EIN 34-1557587

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 27, 2024

Organization ProfileWWW.LORAINCOUNTYCHAMBER.COM

View Organization Page

226 Middle Avenue - 5th FloorElyria, OH 44035

(440) 328-2550

Siviq Scores

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

Liabilities / Assets

86th percentile

0.31x

Higher debt load relative to assets than 86% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

0.22x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Net Margin

22nd percentile

-15%

Higher net margin than 22% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Top Officer Pay

97th percentile

$108,721

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 31.8% of source-year revenue.

2023 filings • 501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

50th percentile

0.9%

Faster asset growth than 50% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

27th percentile

-8.3%

Faster revenue growth than 27% of similar nonprofits.

2023 filings • 501(c)6 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets86th percentile

Assets

Up

$240,658

Up $2,110 (+0.9%) from 2022

Net Assets

Down

$165,800

Down $51,724 (-24%) from 2022

Liabilities

Up

$74,858

Up $53,834 (+256%) from 2022

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin22nd percentile

Revenue

Down

$342,422

Down $31,052 (-8.3%) from 2022

Expenses

Down

$394,146

Down $18,752 (-4.5%) from 2022

Net Income

Down

-$51,724

Down $12,300 (-31%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth50th percentile

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

$400K$300K$200K$100K$0Assets 2016: $138,830Liabilities 2016: $4,238Net Assets 2016: $134,5922016Assets 2017: $165,075Liabilities 2017: $1,550Net Assets 2017: $163,5252017Assets 2018: $186,336Liabilities 2018: $3,094Net Assets 2018: $183,2422018Assets 2019: $205,696Liabilities 2019: $1,575Net Assets 2019: $204,1212019Assets 2020: $234,614Liabilities 2020: $6,246Net Assets 2020: $228,3682020Assets 2021: $306,647Liabilities 2021: $69,699Net Assets 2021: $236,9482021Assets 2022: $238,548Liabilities 2022: $21,024Net Assets 2022: $217,5242022Assets 2023: $240,658Liabilities 2023: $74,858Net Assets 2023: $165,8002023Assets 2024: $163,249Liabilities 2024: $50,156Net Assets 2024: $113,0932024

Highlighted filing

2023

Assets$240,658
Liabilities$74,858
Net Assets$165,800
Open 2023 Filing

Operations Trend

Revenue Growth27th percentile

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

$600K$400K$200K$0-$200KRevenue 2016: $381,968Expenses 2016: $316,987Net Income 2016: $64,9812016Revenue 2017: $389,827Expenses 2017: $360,894Net Income 2017: $28,9332017Revenue 2018: $391,555Expenses 2018: $371,876Net Income 2018: $19,6792018Revenue 2019: $405,281Expenses 2019: $382,608Net Income 2019: $22,6732019Revenue 2020: $357,413Expenses 2020: $333,166Net Income 2020: $24,2472020Revenue 2021: $345,590Expenses 2021: $357,010Net Income 2021: -$11,4202021Revenue 2022: $373,474Expenses 2022: $412,898Net Income 2022: -$39,4242022Revenue 2023: $342,422Expenses 2023: $394,146Net Income 2023: -$51,7242023Revenue 2024: $384,891Expenses 2024: $437,598Net Income 2024: -$52,7072024

Highlighted filing

2023

Revenue$342,422
Expenses$394,146
Net Income-$51,724
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 27, 2024
Return Version
2023v5.0
Gross Receipts
$403,619
Mission and Program Overview

Mission

To enhance the quality of life in lorain county through a unified and coordinated regional economic development program that provides leadership, maximizes resources, and emphasizes cooperation.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$227,685$233,386▲ $5,701
Land, Buildings, and Equipment, Net$10,863$7,272▼ $3,591
Total Assets$238,548$240,658▲ $2,110
Liabilities
Accounts Payable and Accrued Expenses$10,161$67,586▲ $57,425
Other Liabilities$10,863$7,272▼ $3,591
Total Liabilities$21,024$74,858▲ $53,834
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$217,524$165,800▼ $51,724
Total Net Assets Fund Balance$217,524$165,800▼ $51,724
Total Liabilities and Net Assets / Fund Balance$238,548$240,658▲ $2,110

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,272$94,285$101,557
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Anthony GalloPresidentFT$108,721$108,721

Board Members and Trustees

NameTitle
Kevin KnightPast Chairma
Brian JankowskiTrustee
Darryl TuckerTrustee
Gayle De La PorteTrustee
Gilbert PalmerTrustee
Jamie HartTrustee
Jon CromlingTrustee
Katie KrepsTrustee
Kurt RaicevichTrustee
Lisa HutsonTrustee
Michele WilliamsonTrustee
Mike HerrickTrustee
Ryan FlaniganTrustee
Tom KramigTrustee
Tracy GreenTrustee
Ed SkiminAt Large
John BryanAt Large
Philip AmosChariman
Sharon PearsonSecretary
Chris MeadTreasurer
Kevin NelsonVice Charima
Revenue and Support

Revenue Composition

Contributions and Grants
$233,356
Program Service Revenue
$30,582
Investment Income
$0
Other Revenue
$78,484
Change in Net Assets
$-51,724
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$328,581
Total Fundraising Expense$71,032
Other Expenses$65,565
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$140,866$47,951$47,951$236,768
Other Employee Benefits$44,191$15,043$15,043$74,277
Office Expenses$12,292$6,943$2,049$21,284
Fees for Services Other$15,682$4,221-$19,903
Payroll Taxes$10,434$3,551$3,551$17,536
Fees for Services Accounting$5,118$2,559$853$8,530
Information Technology$3,556$1,778$593$5,927
Insurance$3,282$1,641$547$5,470
Depreciation Depletion$2,671$1,335$445$4,451
Total Functional Expenses$238,092$85,022$71,032$394,146
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$126,178
Fundraising Direct Expenses$61,197
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Business Expo$36,925$36,925$8,413$28,512
Golf Outing$36,525$36,525$20,063$16,462
Total Events$122,217$122,217$57,888$64,329
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liability$7,272
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
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

“Will distribute draft copy to board before filing.”

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

“Per board review and approval.”

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

“Per board review and approval.”

Form 990, Page 6, Part VI, Line 19

“Upon request with the organization or executive committee.”

Filing and Contact Details

Filer

Filer Name
Lorain County Chamber
EIN
34-1557587
Phone
4403282550
Address
226 MIDDLE AVENUE - 5TH FLOOR, ELYRIA, OH 44035

Signing Officer

Name
Anthony Gallo
Title
President
Phone
4403282550
Signed
2024-06-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anthony Gallo
Formed
1988
Legal Domicile
Oh
Voting Board Members
21
Independent Board Members
22
Employees
3

Preparer

Firm
Elek & Noss LLC
Address
PO BOX 250, GRAFTON, OH 44044-0250
Preparer
Gregory J Elek CPA
Phone
4409269300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To enhance the quality of life in lorain county through a unified and coordinated regional economic development program that provides leadership, maximizes resources, and emphasizes cooperation.”

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

“To enhance the quality of life in lorain county through a unified and coordinated regional economic development program that provides leadership, maximized resources, and emphasizes cooperation.”

Form 990, Part XI, Line 9

“Rent expense donated -20,000”

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IRS990/MissionDesc0TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZES RESOURCES, AND EMPHASIZES COOPERATION.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
IRS990/NetAssetsOrFundBalancesBOYAmt0217524
IRS990/NetAssetsOrFundBalancesEOYAmt0165800
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt064981
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt0217524
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0165800
IRS990/NondeductibleContributionsInd0false
IRS990/OfficeExpensesGrp/FundraisingAmt02049
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt06943
IRS990/OfficeExpensesGrp/ProgramServicesAmt012292
IRS990/OfficeExpensesGrp/TotalAmt021284
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt0-20000
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt015043
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt015043
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt044191
IRS990/OtherEmployeeBenefitsGrp/TotalAmt074277
IRS990/OtherLiabilitiesGrp/BOYAmt010863
IRS990/OtherLiabilitiesGrp/EOYAmt07272
IRS990/OtherRevenueMiscGrp/Desc0BOARD/STAFF
IRS990/OtherRevenueMiscGrp/Desc1MISCELLANEOUS REVENUE
IRS990/OtherRevenueMiscGrp/Desc2CERFIFICATES OF ORIGIN
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt06565
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt15069
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt21869
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt06565
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt15069
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt21869
IRS990/OtherRevenueTotalAmt013503
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt047951
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt047951
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0140866
IRS990/OtherSalariesAndWagesGrp/TotalAmt0236768
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt03551
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03551
IRS990/PayrollTaxesGrp/ProgramServicesAmt010434
IRS990/PayrollTaxesGrp/TotalAmt017536
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0ANTHONY GALLO
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0BUSINESS DEVELOPMENT, NET
IRS990/ProgramServiceRevenueGrp/Desc1GOVERNMENT AFFAIRS, NET
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt029429
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11153
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt029429
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11153
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZED RESOURCES, AND EMPHASIZES COOPERATION.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0229716
IRS990/PYOtherExpensesAmt098109
IRS990/PYOtherRevenueAmt086047
IRS990/PYProgramServiceRevenueAmt057711
IRS990/PYRevenuesLessExpensesAmt0-39424
IRS990/PYSalariesCompEmpBnftPaidAmt0314789
IRS990/PYTotalExpensesAmt0412898
IRS990/PYTotalRevenueAmt0373474
IRS990/ReconcilationRevenueExpnssAmt0-51724
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt07272
IRS990ScheduleD/EquipmentGrp/DepreciationAmt094285
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0101557
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07272
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LEASE LIABILITY
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07272
IRS990ScheduleD/TotalLiabilityAmt07272
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt057888
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0BUSINESS EXPO
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0GOLF OUTING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt036925
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt036525
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsOtherEventsAmt048767
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt0122217
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt036925
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt036525
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueOtherEventsAmt048767
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0122217
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt064329
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssOtherEventsAmt029412
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt057888
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt08413
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt020063
IRS990ScheduleG/FundraisingEventInformationGrp/OtherEventsTotalCnt04
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZES RESOURCES, AND EMPHASIZES COOPERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1TO ENHANCE THE QUALITY OF LIFE IN LORAIN COUNTY THROUGH A UNIFIED AND COORDINATED REGIONAL ECONOMIC DEVELOPMENT PROGRAM THAT PROVIDES LEADERSHIP, MAXIMIZED RESOURCES, AND EMPHASIZES COOPERATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WILL DISTRIBUTE DRAFT COPY TO BOARD BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PER BOARD REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PER BOARD REVIEW AND APPROVAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON REQUEST WITH THE ORGANIZATION OR EXECUTIVE COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6RENT EXPENSE DONATED -20,000
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0OH
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0238548
IRS990/TotalAssetsEOYAmt0240658
IRS990/TotalAssetsGrp/BOYAmt0238548
IRS990/TotalAssetsGrp/EOYAmt0240658
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0233356
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt071032
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt085022
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0238092
IRS990/TotalFunctionalExpensesGrp/TotalAmt0394146
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt021024
IRS990/TotalLiabilitiesEOYAmt074858
IRS990/TotalLiabilitiesGrp/BOYAmt021024
IRS990/TotalLiabilitiesGrp/EOYAmt074858
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0217524
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0165800
IRS990/TotalProgramServiceExpensesAmt0238092
IRS990/TotalProgramServiceRevenueAmt030582
IRS990/TotalReportableCompFromOrgAmt0108721
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt044085
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0342422
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0238548
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0240658
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$240,658
Liabilities
$74,858
Net assets
$165,800
Revenue
$342,422
Expenses
$394,146
Net income
-$51,724
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.63$0.50$1.13$3.85$4.38$0.53
2023Detailed filing. Detailed filing data is available for this year.$2.41$0.75$1.66$3.42$3.94$0.52
2022Detailed filing. Detailed filing data is available for this year.$2.39$0.21$2.18$3.73$4.13$0.39
2021Detailed filing. Detailed filing data is available for this year.$3.07$0.70$2.37$3.46$3.57$0.11
2020Detailed filing. Detailed filing data is available for this year.$2.35$0.06$2.28$3.57$3.33$0.24
2019Detailed filing. Detailed filing data is available for this year.$2.06$0.02$2.04$4.05$3.83$0.23
2018Detailed filing. Detailed filing data is available for this year.$1.86$0.03$1.83$3.92$3.72$0.20
2017Detailed filing. Detailed filing data is available for this year.$1.65$0.02$1.64$3.90$3.61$0.29
2016Detailed filing. Detailed filing data is available for this year.$1.39$0.04$1.35$3.82$3.17$0.65