Civic Intelligence

Midwest Association of Golf Course Superintendents Inc

EIN 36-3395161 • 501(c)6 • Lemont, IL

Profile

To provide education in golf course maintenance in addition to networking and career advancement opportunities to its members

11855 Archer AvenueLemont, IL 60439

www.magcs.org

Siviq Scores

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

Liabilities / Assets

80th percentile

0.18x

Higher debt load relative to assets than 80% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

84th percentile

0.19x

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

501(c)6 • <$500k nonprofits • Source year 2024

Net Margin

47th percentile

-0.3%

Higher net margin than 47% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)6 • <$500k nonprofits • Source year 2024

Asset Growth

66th percentile

6.9%

Faster asset growth than 66% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

-3.5%

Faster revenue growth than 45% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$315,284

Up $54,093 (+21%) from 2022

Liabilities

Up

$57,732

Up $15,169 (+36%) from 2022

Net Assets

Up

$257,552

Up $38,924 (+18%) from 2022

Revenue

Up

$306,573

Up $20,552 (+7.2%) from 2022

Expenses

Up

$307,628

Up $28,824 (+10%) from 2022

Net Income

Down

-$1,055

Down $8,272 (-115%) from 2022

Trend Graphs

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2020: $233,607Liabilities 2020: $4,733Net Assets 2020: $228,8742020Assets 2021: $301,776Liabilities 2021: $54,572Net Assets 2021: $247,2042021Assets 2022: $261,191Liabilities 2022: $42,563Net Assets 2022: $218,6282022Assets 2024: $315,284Liabilities 2024: $57,732Net Assets 2024: $257,5522024

Highlighted filing

2024

Assets$315,284
Liabilities$57,732
Net Assets$257,552

Operations Trend

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

$400K$300K$200K$100K$0-$100KRevenue 2020: $247,672Expenses 2020: $244,967Net Income 2020: $2,7052020Revenue 2021: $253,738Expenses 2021: $248,462Net Income 2021: $5,2762021Revenue 2022: $286,021Expenses 2022: $278,804Net Income 2022: $7,2172022Revenue 2024: $306,573Expenses 2024: $307,628Net Income 2024: -$1,0552024

Highlighted filing

2024

Revenue$306,573
Expenses$307,628
Net Income-$1,055

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$306,573
Mission and Program Overview

Mission

To provide education in golf course maintenance in addition to networking and career advancement opportunities to its members

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$151,328$169,545▲ $18,217
Cash and Non-Interest-Bearing Accounts$127,153$133,670▲ $6,517
Prepaid Expenses and Deferred Charges$14,256$8,443▼ $5,813
Land, Buildings, and Equipment, Net$2,117$1,106▼ $1,011
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$294,854$315,284▲ $20,430
Other Assets Total-$2,520-
Liabilities
Deferred Revenue$33,315$40,930▲ $7,615
Accounts Payable and Accrued Expenses$14,535$16,802▲ $2,267
Other Liabilities$1--
Total Liabilities$47,851$57,732▲ $9,881
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$247,003$257,552▲ $10,549
Total Net Assets Fund Balance$247,003$257,552▲ $10,549
Total Liabilities and Net Assets / Fund Balance$294,854$315,284▲ $20,430

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,106$40,792-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Nate BolhousPresident
Matt McdonaldVice President
Adam WilesDirector
Andrew CrossDirector
Bill MeyerDirector
Craig KightDirector
Luke CellaExecutive Director
Michael PacigaPres Emeritus
Dan StahlSec/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$136,559
Program Service Revenue
$163,397
Investment Income
$6,617
Other Revenue
$0
Change in Net Assets
$-1,055
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$307,628
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management-$85,368-$85,368
All Other Expenses$54,436$20,098-$74,534
Other Expenses$15,707--$15,707
Travel-$8,614-$8,614
Occupancy-$2,400-$2,400
Insurance-$1,165-$1,165
Fees for Services Accounting-$1,145-$1,145
Advertising$1,118--$1,118
Depreciation Depletion-$1,012-$1,012
Office Expenses-$552-$552
Total Functional Expenses$187,274$120,354$0$307,628
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

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

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
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, Part VI, Section B, Line 11B

The scheduling of board meetings dictates whether form 990 is reviewed and approved prior to or after the form is filed.

Form 990, Part VI, Section C, Line 19

Copies provided upon request.

Filing and Contact Details

Filer

Filer Name
Midwest Association of Golf Course
EIN
36-3395161
Phone
6306852420
Address
11855 ARCHER AVENUE, LEMONT, IL 60439

Signing Officer

Name
Luke Cella
Title
Executive Director
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Luke Cella
Formed
1985
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
8
Employees
0

Preparer

Firm
James B Szal & Company
Address
6348 N MILWAUKEE AVE 333, CHICAGO, IL 60646
Preparer
Susan L Szalczynski CPA
Phone
7737746420
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

BOARD: Column (A) - Total = $2796; Column (B) - Program Services = $2796; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

COMMITTEE EXPENSES: Column (A) - Total = $662; Column (B) - Program Services = $662; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

COMPUTER SUPPORT: Column (A) - Total = $7752; Column (B) - Program Services = $0; Column (C) - Management & General = $7752; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

Postage and Shipping: Column (A) - Total = $212; Column (B) - Program Services = $0; Column (C) - Management & General = $212; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

PRIZES: Column (A) - Total = $3776; Column (B) - Program Services = $3776; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

SCHOLARSHIPS: Column (A) - Total = $10000; Column (B) - Program Services = $10000; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

SPEAKER EXPENSE/HONOR: Column (A) - Total = $2668; Column (B) - Program Services = $2668; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

STAFF SERVICES: Column (A) - Total = $7776; Column (B) - Program Services = $0; Column (C) - Management & General = $7776; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

TECHNOLOGY CHARGES: Column (A) - Total = $3973; Column (B) - Program Services = $0; Column (C) - Management & General = $3973; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

TELEPHONE: Column (A) - Total = $385; Column (B) - Program Services = $0; Column (C) - Management & General = $385; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

TURF CLINIC: Column (A) - Total = $13824; Column (B) - Program Services = $13824; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

UNRELATED BUSINESS TAXES: Column (A) - Total = $8424; Column (B) - Program Services = $8424; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E

WEBSITE: Column (A) - Total = $12286; Column (B) - Program Services = $12286; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part XI, Line 9

ROUNDING = $4

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IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014256
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08443
IRS990/PrincipalOfficerNm0LUKE CELLA
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0CLINICS SMNRS CONFERENCES
IRS990/ProgramServiceRevenueGrp/Desc1ON COURSE MONTHLY NEWSLTR
IRS990/ProgramServiceRevenueGrp/Desc2SCHOLARSHPS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt097637
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13471
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt097637
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt162289
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23471
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt062289
IRS990/ProgSrvcAccomActy2Grp/Desc0MONTHLY PUBLICATION OF "ON COURSE" NEWSLETTER PROVIDING GOLF COURSE CARE AND MAINTENANCE EDUCATON AND OTHER PERTINENT INFORMATION TO MEMBERS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt068280
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt062289
IRS990/ProgSrvcAccomActy3Grp/Desc0THE ORGANIZATION PROVIDES SCHOLARSHIPS AND RESEARCH GRANTS TO INDIVIDUALS AFFILIATED WITH THE GROUP AND ORGANIZATIONS STUDYING DEVELOPMENTS THAT WOULD AFFECT THE GROUP.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt010000
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt03471
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0117683
IRS990/PYInvestmentIncomeAmt04627
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0304216
IRS990/PYProgramServiceRevenueAmt0195371
IRS990/PYRevenuesLessExpensesAmt013465
IRS990/PYTotalExpensesAmt0304216
IRS990/PYTotalRevenueAmt0317681
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1055
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt097637
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0151328
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0169545
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt01106
IRS990ScheduleD/EquipmentGrp/DepreciationAmt040792
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt041898
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01106
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHEDULING OF BOARD MEETINGS DICTATES WHETHER FORM 990 IS REVIEWED AND APPROVED PRIOR TO OR AFTER THE FORM IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COPIES PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD: Column (A) - Total = $2796; Column (B) - Program Services = $2796; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMMITTEE EXPENSES: Column (A) - Total = $662; Column (B) - Program Services = $662; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPUTER SUPPORT: Column (A) - Total = $7752; Column (B) - Program Services = $0; Column (C) - Management & General = $7752; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Postage and Shipping: Column (A) - Total = $212; Column (B) - Program Services = $0; Column (C) - Management & General = $212; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PRIZES: Column (A) - Total = $3776; Column (B) - Program Services = $3776; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7SCHOLARSHIPS: Column (A) - Total = $10000; Column (B) - Program Services = $10000; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8SPEAKER EXPENSE/HONOR: Column (A) - Total = $2668; Column (B) - Program Services = $2668; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9STAFF SERVICES: Column (A) - Total = $7776; Column (B) - Program Services = $0; Column (C) - Management & General = $7776; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10TECHNOLOGY CHARGES: Column (A) - Total = $3973; Column (B) - Program Services = $0; Column (C) - Management & General = $3973; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11TELEPHONE: Column (A) - Total = $385; Column (B) - Program Services = $0; Column (C) - Management & General = $385; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12TURF CLINIC: Column (A) - Total = $13824; Column (B) - Program Services = $13824; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13UNRELATED BUSINESS TAXES: Column (A) - Total = $8424; Column (B) - Program Services = $8424; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14WEBSITE: Column (A) - Total = $12286; Column (B) - Program Services = $12286; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15ROUNDING = $4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15Form 990, Part XI, Line 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0294854
IRS990/TotalAssetsEOYAmt0315284
IRS990/TotalAssetsGrp/BOYAmt0294854
IRS990/TotalAssetsGrp/EOYAmt0315284
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0136559
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0120354
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0187274
IRS990/TotalFunctionalExpensesGrp/TotalAmt0307628
IRS990/TotalGrossUBIAmt062289
IRS990/TotalLiabilitiesBOYAmt047851
IRS990/TotalLiabilitiesEOYAmt057732
IRS990/TotalLiabilitiesGrp/BOYAmt047851
IRS990/TotalLiabilitiesGrp/EOYAmt057732
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0247003
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0257552
IRS990/TotalProgramServiceExpensesAmt0187274
IRS990/TotalProgramServiceRevenueAmt0163397
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0107725
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0306573
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt062289
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0294854
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0315284
IRS990/TravelGrp/ManagementAndGeneralAmt08614
IRS990/TravelGrp/TotalAmt08614
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt011855 ARCHER AVENUE
IRS990/USAddress/CityNm0LEMONT
IRS990/USAddress/StateAbbreviationCd0IL
IRS990/USAddress/ZIPCd060439
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.MAGCS.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0LUKE CELLA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Dir.
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-11-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIDWEST ASSOCIATION OF GOLF COURSE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0SUPERINTENDENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0MIDW
ReturnHeader/Filer/EIN0363395161
ReturnHeader/Filer/PhoneNum06306852420
ReturnHeader/Filer/USAddress/AddressLine1Txt011855 ARCHER AVENUE
ReturnHeader/Filer/USAddress/CityNm0LEMONT
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IL
ReturnHeader/Filer/USAddress/ZIPCd060439
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0362727026
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JAMES B SZAL & COMPANY

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