Civic Intelligence

Independent Order of Vikings

EIN 36-1260620 • 501(c)8 • Lansing, MI

Profile

The Independent Order of Vikings (IOV) operates to benefit its members under the lodge system. The IOV collects individual assessment premiums from its members for the purpose of paying life insurance or other benefits and maintaining a solvent legal reserve system.

PO Box 27186Lansing, MI 48910

iovikings.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2022

Liabilities / Revenue

51st percentile

0.00x

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

501(c)8 • <$500k nonprofits • Source year 2022

Net Margin

7th percentile

-73%

Higher net margin than 7% of similar nonprofits.

501(c)8 • <$500k nonprofits • Source year 2022

Top Officer Pay

83rd percentile

$500

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 0.8% of source-year revenue.

501(c)8 • <$500k nonprofits • Source year 2022

Asset Growth

3rd percentile

-100%

Faster asset growth than 3% of similar nonprofits.

501(c)8 • <$500k nonprofits • Annualized from 2021 to 2022

Revenue Growth

19th percentile

-24%

Faster revenue growth than 19% of similar nonprofits.

501(c)8 • <$500k nonprofits • Annualized from 2021 to 2022

Assets

Down

$0

Down $1,374,526 (-100%) from 2021

Liabilities

Down

$0

Down $837,616 (-100%) from 2021

Net Assets

Down

$0

Down $536,910 (-100%) from 2021

Revenue

Down

$62,891

Down $19,327 (-24%) from 2021

Expenses

Down

$108,831

Down $153,989 (-59%) from 2021

Net Income

Up

-$45,940

Up $134,662 (+75%) from 2021

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2015: $2,615,170Liabilities 2015: $1,321,912Net Assets 2015: $1,293,2582015Assets 2016: $2,659,879Liabilities 2016: $1,357,349Net Assets 2016: $1,302,5302016Assets 2017: $2,178,452Liabilities 2017: $866,032Net Assets 2017: $1,312,4202017Assets 2018: $1,972,378Liabilities 2018: $768,937Net Assets 2018: $1,203,4412018Assets 2019: $1,754,211Liabilities 2019: $766,092Net Assets 2019: $988,1192019Assets 2020: $1,548,098Liabilities 2020: $729,227Net Assets 2020: $818,8712020Assets 2021: $1,374,526Liabilities 2021: $837,616Net Assets 2021: $536,9102021Assets 2022: $0Liabilities 2022: $0Net Assets 2022: $02022

Highlighted filing

2022

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.0M$500K$0-$500KRevenue 2015: $217,650Expenses 2015: $148,381Net Income 2015: $69,2692015Revenue 2016: $209,625Expenses 2016: $170,926Net Income 2016: $38,6992016Revenue 2017: $316,573Expenses 2017: $804,189Net Income 2017: -$487,6162017Revenue 2018: $108,803Expenses 2018: $371,124Net Income 2018: -$262,3212018Revenue 2019: $112,386Expenses 2019: $287,892Net Income 2019: -$175,5062019Revenue 2020: $95,155Expenses 2020: $341,129Net Income 2020: -$245,9742020Revenue 2021: $82,218Expenses 2021: $262,820Net Income 2021: -$180,6022021Revenue 2022: $62,891Expenses 2022: $108,831Net Income 2022: -$45,9402022

Highlighted filing

2022

Revenue$62,891
Expenses$108,831
Net Income-$45,940

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Jun 30, 2022
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$62,891
Mission and Program Overview

Mission

The independent order of vikings (iov) operates to benefit its members under the lodge system. The iov collects individual assessment premiums from its members for the purpose of paying life insurance or other benefits and maintaining a solvent legal reserve system.

The independent order of vikings (iov) is a fraternal benefit society exempt under section 501(c)(8) of the internal revenue code. (continued on schedule o, statement 1)

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$702,188$0▼ $702,188
Cash and Non-Interest-Bearing Accounts$662,542$0▼ $662,542
Rtn Earn Endowment Incm Other Fnds$336,910$0▼ $336,910
Cap Stk Tr Prin Current Funds$200,000$0▼ $200,000
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,374,526$0▼ $1,374,526
Other Assets Total$9,796$0▼ $9,796
Liabilities
Other Liabilities$798,272$0▼ $798,272
Accounts Payable and Accrued Expenses$39,344$0▼ $39,344
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$837,616$0▼ $837,616
Net Assets / Fund Balance
Total Net Assets Fund Balance$536,910$0▼ $536,910
Total Liabilities and Net Assets / Fund Balance$1,374,526$0▼ $1,374,526
Compensation and Service Providers

Employees

NameTitleBaseTotal
Eivor Britt-louise HichueGrand Secretary$500$500
Rodney Wayne OttumVice Grand Chief$350$350
Melinda Rae WordenGrand Chief$300$300
Mary Beth LiskeyDirector/trustee$175$175
Thomas Richard JandtGrand Treasurer$175$175
William Herbert SchaeferJr. Past Grand Chief$150$150
Bryan Richard NelsonDirector/trustee$100$100
Jane Beverly Russell FosbergDirector/trustee$100$100
Margaret Ann SchaeferDirector/trustee$100$100
Robert Halley GrinnellDirector/trustee$100$100
Steve Anthony KosthorstDirector/trustee$50$50
William Arthur PetersonDirector/trustee$50$50

Board Members and Trustees

NameTitle
Robert Dale GreenwaldDirector/trustee

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$52,681
Investment Income
$10,210
Other Revenue
$0
Change in Net Assets
$-45,940
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$68,087
Salaries, Compensation, and Employee Benefits$30,000
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$42,289-$42,289
Other Salaries and Wages-$27,850-$27,850
Benefits to Members$10,744--$10,744
Fees for Services Legal-$8,061-$8,061
Office Expenses-$6,351-$6,351
Other Expenses-$4,870-$4,870
Current Officers, Directors, Trustees, and Key Employees-$2,150-$2,150
Insurance-$1,546-$1,546
Fees for Services Accounting-$1,462-$1,462
Information Technology-$159-$159
Total Functional Expenses$10,744$98,087$0$108,831
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Robin GrinnellDaughter of Current Director Robert Halley GrinnellFraternal Administration--

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
Yes
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Third party administrator: universal guaranty life insurance company, 111 w. Main st. Po box 410 stanford, ky 40484

Form 990, Part VI, Section A, Line 6

The organization is represented by members.

Form 990, Part VI, Section A, Line 7A

The officers and directors are elected at the grand lodge meeting.

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by armanino, llp, and then reviewed and approved by the administrator and all members of the governing board.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is prepared with each election and is reviewed and approved by the officers.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy and financial statements are filed with the appropriate regulatory authorities and are available upon request.

Filing and Contact Details

Filer

Filer Name
Independent Order of Vikings
EIN
36-1260620
In Care Of
% GBU FINANCIAL LIFE
Phone
2626543384
Address
PO Box 27186, Lansing, MI 48910

Signing Officer

Name
Douglas Ulrich
Title
Controller
Phone
4128849816
Signed
2023-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Douglas Ulrich
Formed
1895
Legal Domicile
Il
Voting Board Members
13
Independent Board Members
13
Employees
0

Preparer

Firm
Armanino Llp
Address
6 CITYPLACE DRIVE SUITE 900, ST LOUIS, MO 63141
Preparer
Joanne H Kearbey
Phone
3149831200
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3

During 2021,the taxpayer began discussions with an unrelated fraternal benefit society, gbu financial life, whereby the taxpayer would be merged with and into gbu financial life. As of june 30, 2022, both parites' governerning bodies have agreed to this transaction and have received the appropriate approvals from the state departments of insurance.

Form 990, Part XI, Line 9

$5,684 - increase in aggregate reserve for life, increase in loading on deferred and uncollected premiums, investment expenses. $496,654 - decrease to eliminate net assets as part of a statutory merger

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IRS990/InsuranceGrp/ManagementAndGeneralAmt01546
IRS990/InsuranceGrp/TotalAmt01546
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IRS990/InvestmentsPubTradedSecGrp/BOYAmt0702188
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IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LocalChaptersInd0true
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0THE INDEPENDENT ORDER OF VIKINGS (IOV) OPERATES TO BENEFIT ITS MEMBERS UNDER THE LODGE SYSTEM. THE IOV COLLECTS INDIVIDUAL ASSESSMENT PREMIUMS FROM ITS MEMBERS FOR THE PURPOSE OF PAYING LIFE INSURANCE OR OTHER BENEFITS AND MAINTAINING A SOLVENT LEGAL RESERVE SYSTEM.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0false
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IRS990/MortgNotesPyblScrdInvstPropGrp/EOYAmt00
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IRS990/NetAssetsOrFundBalancesEOYAmt00
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IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt06351
IRS990/OfficeExpensesGrp/TotalAmt06351
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt09796
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt0-490970
IRS990/OtherEmployeeBenefitsGrp/TotalAmt00
IRS990/OtherExpensesGrp/Desc0STATE INSURANCE DEPT FEES
IRS990/OtherExpensesGrp/Desc1SUNDRY EXPENSES
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt03349
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt14870
IRS990/OtherExpensesGrp/TotalAmt03349
IRS990/OtherExpensesGrp/TotalAmt14870
IRS990/OtherLiabilitiesGrp/BOYAmt0798272
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherOrganizationDsc0FRATERNAL
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt027850
IRS990/OtherSalariesAndWagesGrp/TotalAmt027850
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt00
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0true
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
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IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt00
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IRS990/PrincipalOfficerNm0DOUGLAS ULRICH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/Desc0PREMIUM ASSESSMENT INCOME
IRS990/ProgramServiceRevenueGrp/Desc1AMORTIZATION OF INTEREST MAINTENANCE RESERVE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt050964
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11717
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt050964
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11717
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt08380
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt024598
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IRS990/PYOtherExpensesAmt0252190
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt057620
IRS990/PYRevenuesLessExpensesAmt0-180602
IRS990/PYSalariesCompEmpBnftPaidAmt02250
IRS990/PYTotalExpensesAmt0262820
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt082218
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IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-45940
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
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IRS990/ReportLandBuildingEquipmentInd0false
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IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0336910
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0ROBIN GRINNELL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0DAUGHTER OF CURRENT DIRECTOR ROBERT HALLEY GRINNELL
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0FRATERNAL ADMINISTRATION
IRS990ScheduleN/DirectorOfSuccessor2Ind0false
IRS990ScheduleN/DispositionOfAssetsDetail/AssetsDistriOrExpnssPaidDesc0Independent Order of Vikings
IRS990ScheduleN/DispositionOfAssetsDetail/DistributionDt02022-06-29
IRS990ScheduleN/DispositionOfAssetsDetail/EIN0250502660
IRS990ScheduleN/DispositionOfAssetsDetail/FairMarketValueOfAssetAmt0496654
IRS990ScheduleN/DispositionOfAssetsDetail/IRCSectionTxt0501(c)(8)
IRS990ScheduleN/DispositionOfAssetsDetail/MethodOfFMVDeterminationTxt0NET BOOK VALUE
IRS990ScheduleN/DispositionOfAssetsDetail/PersonNm0GBU FINANCIAL LIFE
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/AddressLine1Txt04254 Saw Mill Run Blvd
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/CityNm0Pittsburgh
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/StateAbbreviationCd0PA
IRS990ScheduleN/DispositionOfAssetsDetail/USAddress/ZIPCd015227
IRS990ScheduleN/EmployeeOfSuccessor2Ind0false
IRS990ScheduleN/OwnerOfSuccessor2Ind0false
IRS990ScheduleN/ReceiveCompensation2Ind0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING 2021,THE TAXPAYER BEGAN DISCUSSIONS WITH AN UNRELATED FRATERNAL BENEFIT SOCIETY, GBU FINANCIAL LIFE, WHEREBY THE TAXPAYER WOULD BE MERGED WITH AND INTO GBU FINANCIAL LIFE. AS OF JUNE 30, 2022, BOTH PARITES' GOVERNERNING BODIES HAVE AGREED TO THIS TRANSACTION AND HAVE RECEIVED THE APPROPRIATE APPROVALS FROM THE STATE DEPARTMENTS OF INSURANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THIRD PARTY ADMINISTRATOR: UNIVERSAL GUARANTY LIFE INSURANCE COMPANY, 111 W. MAIN ST. PO BOX 410 STANFORD, KY 40484
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION IS REPRESENTED BY MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE OFFICERS AND DIRECTORS ARE ELECTED AT THE GRAND LODGE MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS PREPARED BY ARMANINO, LLP, AND THEN REVIEWED AND APPROVED BY THE ADMINISTRATOR AND ALL MEMBERS OF THE GOVERNING BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE CONFLICT OF INTEREST POLICY IS PREPARED WITH EACH ELECTION AND IS REVIEWED AND APPROVED BY THE OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE FILED WITH THE APPROPRIATE REGULATORY AUTHORITIES AND ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7$5,684 - INCREASE IN AGGREGATE RESERVE FOR LIFE, INCREASE IN LOADING ON DEFERRED AND UNCOLLECTED PREMIUMS, INVESTMENT EXPENSES. $496,654 - DECREASE TO ELIMINATE NET ASSETS AS PART OF A STATUTORY MERGER
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondLiabilitiesGrp/BOYAmt00

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