Civic Intelligence

Swac Swim Team Inc

990 • Fiscal year 2021 • EIN 35-1910562

Sep 01, 2020 to Aug 31, 2021 • Filed on Oct 07, 2021

PO Box 9734Fort Wayne, IN 46899

(260) 445-5306

Siviq Scores

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

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Net Margin

26th percentile

-8.4%

Higher net margin than 26% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Top Officer Pay

95th percentile

$65,000

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 16.5% of source-year revenue.

2021 filings • 501(c)3 • <$500k nonprofits • Source year 2021

Asset Growth

16th percentile

-24%

Faster asset growth than 16% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

59th percentile

16%

Faster revenue growth than 59% of similar nonprofits.

2021 filings • 501(c)3 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Down

$178,577

Down $56,832 (-24%) from 2020

Net Assets

Down

$178,577

Down $15,832 (-8.1%) from 2020

Liabilities

Down

$0

Down $41,000 (-100%) from 2020

Revenue

Up

$394,710

Up $54,705 (+16%) from 2020

Expenses

Up

$427,806

Up $67,673 (+19%) from 2020

Net Income

Down

-$33,096

Down $12,968 (-64%) from 2020

Historical Trend

Balance Sheet Trend

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

$300K$200K$100K$0Assets 2015: $124,186Liabilities 2015: $55,093Net Assets 2015: $69,0932015Assets 2016: $146,771Liabilities 2016: $13,632Net Assets 2016: $133,1392016Assets 2017: $177,401Liabilities 2017: $748Net Assets 2017: $176,6532017Assets 2018: $225,467Liabilities 2018: $0Net Assets 2018: $225,4672018Assets 2019: $253,428Liabilities 2019: $0Net Assets 2019: $253,4282019Assets 2020: $235,409Liabilities 2020: $41,000Net Assets 2020: $194,4092020Assets 2021: $178,577Liabilities 2021: $0Net Assets 2021: $178,5772021Assets 2022: $223,520Liabilities 2022: $13,425Net Assets 2022: $210,0952022Assets 2023: $194,926Liabilities 2023: $736Net Assets 2023: $194,1902023Assets 2024: $105,886Liabilities 2024: $0Net Assets 2024: $105,8862024Assets 2025: $0Liabilities 2025: $0Net Assets 2025: $02025

Highlighted filing

2021

Assets$178,577
Liabilities$0
Net Assets$178,577

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2015: $369,703Expenses 2015: $336,088Net Income 2015: $33,6152015Revenue 2016: $388,461Expenses 2016: $368,354Net Income 2016: $20,1072016Revenue 2017: $387,117Expenses 2017: $357,621Net Income 2017: $29,4962017Revenue 2018: $376,610Expenses 2018: $337,916Net Income 2018: $38,6942018Revenue 2019: $369,312Expenses 2019: $337,047Net Income 2019: $32,2652019Revenue 2020: $340,005Expenses 2020: $360,133Net Income 2020: -$20,1282020Revenue 2021: $394,710Expenses 2021: $427,806Net Income 2021: -$33,0962021Revenue 2022: $412,914Expenses 2022: $373,708Net Income 2022: $39,2062022Revenue 2023: $352,020Expenses 2023: $365,694Net Income 2023: -$13,6742023Revenue 2024: $335,988Expenses 2024: $425,027Net Income 2024: -$89,0392024Revenue 2025: $103,846Expenses 2025: $32,421Net Income 2025: $71,4252025

Highlighted filing

2021

Revenue$394,710
Expenses$427,806
Net Income-$33,096
Jump To
Filing Snapshot
Filing Period
Sep 1, 2020 to Aug 31, 2021
Signed
Oct 7, 2021
Return Version
2020v4.0
Gross Receipts
$419,136
Mission and Program Overview

Mission

We seek to create the best possible swimming experience for each and every athlete in our trust. To that end, we will employ the very latest techniques and training by providing experienced, professional and highly regarded coaches. In addition, we seek to build team spirit, teach delayed gratification and create a focus on personal achievement along with respect for one's self, teammates, coaches and competitors.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$210,053$150,006▼ $60,047
Cash and Non-Interest-Bearing Accounts$24,145$18,377▼ $5,768
Accounts Receivable$322$9,184▲ $8,862
Inventories for Sale or Use$876$1,010▲ $134
Land, Buildings, and Equipment, Net$13--
Total Assets$235,409$178,577▼ $56,832
Liabilities
Other Liabilities$41,000--
Total Liabilities$41,000$0▼ $41,000
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$194,409$178,577▼ $15,832
Total Net Assets Fund Balance$194,409$178,577▼ $15,832
Total Liabilities and Net Assets / Fund Balance$235,409$178,577▼ $56,832

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$4,508$4,508
Equipment-$2,948$2,948
Compensation and Service Providers

Employees

NameTitleBaseTotal
Justin MaxBoard Member$65,000$65,000

Board Members and Trustees

NameTitle
Courtney PoswinskiPresident
Sherri VanzuidamMeet Directo
Amy LazoffMember-at-la
Brian ForsythMember-at-la
Erin ArmstrongMember-at-la
Megan ChandlerMember-at-la
Missy ProchaskaMember-at-la
Veronica SierraMember-at-la
Rebecca MerrittSecretary
Brian RisleyTreasurer
Kelley GrayVice Preside
Stephanie EddyVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$275,214
Program Service Revenue
$114,627
Investment Income
$40
Other Revenue
$4,829
Change in Net Assets
$-33,096
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$245,785
Other Expenses$182,021
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$146,550$16,283-$162,833
Current Officers, Directors, Trustees, and Key Employees$65,000--$65,000
Travel$21,810--$21,810
Payroll Taxes$16,157$1,795-$17,952
All Other Expenses$5,736$262-$5,998
Other Expenses$5,046--$5,046
Office Expenses$4,057$537-$4,594
Insurance-$3,131-$3,131
Fees for Services Accounting-$2,130-$2,130
Fees for Services Legal-$1,161-$1,161
Depreciation Depletion$13--$13
Total Functional Expenses$402,507$25,299$0$427,806
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$26,652
Fundraising Direct Expenses$22,028
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Swim Meets$18,060$18,060$18,760$-700
Fundraising$5,486$5,486$460$5,026
Total Events$23,546$23,546$19,220$4,326
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
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
No
Other officer compensation reviewed
Yes
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 board treasurer reviews form 990 with the board president.

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

The policy is reviewed annually by the board and any conflicts are discussed by the board. The board of directors code of conduct includes this sentence - "i will excuse myself from discussions and votes where i have a conflict of interest."

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

Head coach compensation must be approved by the board.

Form 990, Page 6, Part VI, Line 19

Governing documents are made available to the public on the organization's website, swacswim.org.

Filing and Contact Details

Filer

Filer Name
Swac Swim Team Inc
EIN
35-1910562
Phone
2604455306
Address
PO BOX 9734, FORT WAYNE, IN 46899
Doing Business As
Summit City Aquatics

Signing Officer

Name
Brian Risley
Title
Treasurer
Signed
2021-10-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Courtney Poswinski
Formed
1994
Legal Domicile
In
Voting Board Members
13
Independent Board Members
13
Employees
33
Volunteers
600

Preparer

Firm
Hamil Lehman & England Pc
Address
6404 CONSTITUTION DRIVE, FORT WAYNE, IN 46804
Preparer
Brian L Hamil Mba CPA
Phone
2604341852
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

We seek to create the best possible swimming experience for each and every athlete in our trust. To that end, we will employ the very latest techniques and training by providing experienced, professional and highly regarded coaches. In addition, we seek to build team spirit, teach delayed gratification and create a focus on personal achievement along with respect for one's self, teammates, coaches and competitors.

Form 990, Part XI, Line 9

Funds from merger with trac 8,402 increase in accounts receivable 8,862 total 17,264

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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/PrincipalOfficerNm0COURTNEY POSWINSKI
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/Desc2MISCELLANEOUS
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt139414
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt139414
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt214577
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IRS990/PYOtherRevenueAmt07708
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IRS990/PYSalariesCompEmpBnftPaidAmt0226028
IRS990/PYTotalExpensesAmt0360133
IRS990/PYTotalRevenueAmt0340005
IRS990/ReconcilationRevenueExpnssAmt0-33096
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0389841
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0210053
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0150006
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt034907
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt034064
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt035701
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt034498
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt052581
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0191751
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0275214
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0231569
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0199957
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0208873
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0203649
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01119262
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt040
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt053
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt068
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt062
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt054
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt0277
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0143882
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0160031
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0236950
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0227279
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0248636
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01016778
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt040
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt053
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt068
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt062
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt054
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt0277
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IRS990ScheduleA/InvestmentIncomePYPct00.00000
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IRS990ScheduleA/PublicSupportCY509Pct00.91010
IRS990ScheduleA/PublicSupportPY509Pct00.91320
IRS990ScheduleA/PublicSupportTotal509Amt01944289
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearAmt034907
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus1YearAmt034064
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus2YearsAmt035701
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus3YearsAmt034498
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/CurrentTaxYearMinus4YearsAmt052581
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt0191751
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0419096
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0391600
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0436907
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0436152
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0452285
IRS990ScheduleA/Total509Grp/TotalAmt02136040
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0419136
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0391653
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0436975
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0436214
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0452339
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt02136317
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/ScheduleBRequiredInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02948
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02948
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt04508
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt04508
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt019220
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0SWIM MEETS
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0FUNDRAISING
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt018060
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent2Amt05486
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt023546
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt018060
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent2Amt05486
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt023546
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt04326
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt019220
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt018760
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent2Amt0460
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0WE SEEK TO CREATE THE BEST POSSIBLE SWIMMING EXPERIENCE FOR EACH AND EVERY ATHLETE IN OUR TRUST. TO THAT END, WE WILL EMPLOY THE VERY LATEST TECHNIQUES AND TRAINING BY PROVIDING EXPERIENCED, PROFESSIONAL AND HIGHLY REGARDED COACHES. IN ADDITION, WE SEEK TO BUILD TEAM SPIRIT, TEACH DELAYED GRATIFICATION AND CREATE A FOCUS ON PERSONAL ACHIEVEMENT ALONG WITH RESPECT FOR ONE'S SELF, TEAMMATES, COACHES AND COMPETITORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD TREASURER REVIEWS FORM 990 WITH THE BOARD PRESIDENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE POLICY IS REVIEWED ANNUALLY BY THE BOARD AND ANY CONFLICTS ARE DISCUSSED BY THE BOARD. THE BOARD OF DIRECTORS CODE OF CONDUCT INCLUDES THIS SENTENCE - "I WILL EXCUSE MYSELF FROM DISCUSSIONS AND VOTES WHERE I HAVE A CONFLICT OF INTEREST."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3HEAD COACH COMPENSATION MUST BE APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE, SWACSWIM.ORG.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FUNDS FROM MERGER WITH TRAC 8,402 INCREASE IN ACCOUNTS RECEIVABLE 8,862 TOTAL 17,264
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0235409
IRS990/TotalAssetsEOYAmt0178577
IRS990/TotalAssetsGrp/BOYAmt0235409
IRS990/TotalAssetsGrp/EOYAmt0178577
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0275214
IRS990/TotalEmployeeCnt033

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