Civic Intelligence

Bay Shore Credit Union

990 • Fiscal year 2019 • EIN 39-0963263

Jan 01, 2019 to Dec 31, 2019 • Filed on Mar 16, 2020

Organization ProfileWWW.BAYSHORECU.ORG

View Organization Page

PO Box 655Marinette, WI 54143

(715) 732-0065

Siviq Scores

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

Liabilities / Assets

19th percentile

0.82x

Higher debt load relative to assets than 19% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Liabilities / Revenue

43rd percentile

16.85x

Higher debt load relative to revenue than 43% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Net Margin

88th percentile

26%

Higher net margin than 88% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Top Officer Pay

54th percentile

$109,555

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 7.0% of source-year revenue.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Source year 2019

Asset Growth

71st percentile

4.6%

Faster asset growth than 71% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Revenue Growth

88th percentile

14%

Faster revenue growth than 88% of similar nonprofits.

2019 filings • 501(c)14 • $25M-$50M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets19th percentile

Assets

Up

$32,259,029

Up $1,432,675 (+4.6%) from 2018

Net Assets

Up

$5,903,984

Up $402,553 (+7.3%) from 2018

Liabilities

Up

$26,355,045

Up $1,030,122 (+4.1%) from 2018

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin88th percentile

Revenue

Up

$1,563,706

Up $189,590 (+14%) from 2018

Expenses

Up

$1,161,153

Up $122,378 (+12%) from 2018

Net Income

Up

$402,553

Up $67,212 (+20%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth71st percentile

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

$60M$40M$20M$0Assets 2010: $25,624,356Liabilities 2010: $21,461,960Net Assets 2010: $4,162,3962010Assets 2011: $25,867,351Liabilities 2011: $21,563,765Net Assets 2011: $4,303,5862011Assets 2012: $27,296,624Liabilities 2012: $22,874,221Net Assets 2012: $4,422,4032012Assets 2013: $28,083,285Liabilities 2013: $23,573,895Net Assets 2013: $4,509,3902013Assets 2014: $28,621,210Liabilities 2014: $23,963,765Net Assets 2014: $4,657,4452014Assets 2015: $28,562,053Liabilities 2015: $23,725,784Net Assets 2015: $4,836,2692015Assets 2016: $28,510,457Liabilities 2016: $23,533,943Net Assets 2016: $4,976,5142016Assets 2017: $29,239,557Liabilities 2017: $24,073,467Net Assets 2017: $5,166,0902017Assets 2018: $30,826,354Liabilities 2018: $25,324,923Net Assets 2018: $5,501,4312018Assets 2019: $32,259,029Liabilities 2019: $26,355,045Net Assets 2019: $5,903,9842019Assets 2020: $38,175,128Liabilities 2020: $31,950,246Net Assets 2020: $6,224,8822020Assets 2021: $44,561,621Liabilities 2021: $38,184,662Net Assets 2021: $6,376,9592021

Highlighted filing

2019

Assets$32,259,029
Liabilities$26,355,045
Net Assets$5,903,984
Open 2019 Filing

Operations Trend

Revenue Growth88th percentile

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

$2.0M$1.5M$1.0M$500K$0Expenses 2010: $1,131,6172010Expenses 2011: $1,014,9522011Expenses 2012: $983,5812012Revenue 2013: $1,039,533Expenses 2013: $952,546Net Income 2013: $86,9872013Revenue 2014: $1,086,143Expenses 2014: $938,088Net Income 2014: $148,0552014Revenue 2015: $1,132,504Expenses 2015: $953,680Net Income 2015: $178,8242015Revenue 2016: $1,166,843Expenses 2016: $1,026,598Net Income 2016: $140,2452016Revenue 2017: $1,214,364Expenses 2017: $1,024,788Net Income 2017: $189,5762017Revenue 2018: $1,374,116Expenses 2018: $1,038,775Net Income 2018: $335,3412018Revenue 2019: $1,563,706Expenses 2019: $1,161,153Net Income 2019: $402,5532019Revenue 2020: $1,532,103Expenses 2020: $1,211,205Net Income 2020: $320,8982020Revenue 2021: $1,398,581Expenses 2021: $1,246,504Net Income 2021: $152,0772021

Highlighted filing

2019

Revenue$1,563,706
Expenses$1,161,153
Net Income$402,553
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Mar 16, 2020
Return Version
2019v5.0
Gross Receipts
$1,563,706
Mission and Program Overview

Mission

To encourage thrift among our members, to create a source of credit at a fair and reasonable cost, and to provide an opportunity for each of our members to improve their respective economic and social conditions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$17,916,007$19,442,977▲ $1,526,970
Savings and Temporary Cash Investments$6,635,729$5,947,326▼ $688,403
Rtn Earn Endowment Incm Other Fnds$5,501,431$5,903,984▲ $402,553
Investments Program Related$5,655,300$5,857,198▲ $201,898
Cash and Non-Interest-Bearing Accounts$138,313$499,321▲ $361,008
Land, Buildings, and Equipment, Net$133,118$155,594▲ $22,476
Prepaid Expenses and Deferred Charges$44,031$34,592▼ $9,439
Accounts Receivable$100$75▼ $25
Total Assets$30,826,354$32,259,029▲ $1,432,675
Other Assets Total$303,756$321,946▲ $18,190
Liabilities
Other Liabilities$25,191,923$26,238,523▲ $1,046,600
Accounts Payable and Accrued Expenses$132,721$116,228▼ $16,493
Escrow Account Liability$279$294▲ $15
Total Liabilities$25,324,923$26,355,045▲ $1,030,122
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,501,431$5,903,984▲ $402,553
Total Liabilities and Net Assets / Fund Balance$30,826,354$32,259,029▲ $1,432,675

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$97,943$261,855$359,798
Equipment$42,651$268,776$311,427
Land$15,000-$15,000
Investment Program Related Org$231,198--
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Vicki CarviouPresidentFT$74,349$35,206$109,555
Craig ButlerVice Chair-$350$17$367
Anita MoroisTreasurer--$17$17
Gordon KehoeDirector--$17$17
James EngmanSecretary--$17$17
Mitch HubertBoard Chair--$17$17
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,259,825
Investment Income
$300,936
Other Revenue
$2,945
Change in Net Assets
$402,553
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$583,448
Other Expenses$576,205
Grants and Similar Amounts Paid$1,500
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$331,146
Office Expenses---$251,028
Other Employee Benefits---$119,641
Information Technology---$86,173
Current Officers, Directors, Trustees, and Key Employees---$74,699
Fees for Services Other---$34,501
Occupancy---$33,118
Pension Plan Contributions---$29,341
Payroll Taxes---$28,621
Insurance---$23,055
Depreciation Depletion---$21,014
Advertising---$12,419
Other Expenses---$8,000
Conferences and Meetings---$4,865
Fees for Services Accounting---$4,507
Grants to Domestic Individuals---$1,500
Total Functional Expenses$0$0$0$1,161,153
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Shares & Deposits$26,224,359
457b Plan Liability$14,458
Adjust Escrow to Line 21 Bal Sheet$-294
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The organization has members. To be a member one must have a share (savings) account at the credit union.”

Form 990, Page 6, Part VI, Line 7A

“The board of directors is elected by the credit union members. Each member has one vote.”

Form 990, Page 6, Part VI, Line 7B

“A member vote is required for decisions which are beyond the authority of the board of directors. Items which require a membership vote are outlined and specified in our bylaws. Each member has one vote.”

Form 990, Page 6, Part VI, Line 11B

“Management provides necessary data to independent tax return preparer who completes the return. Management and the internal auditor review the return for accuracy and then authorize the preparer to e-file the approved return. Management reviews the return with the directors at the next board meeting.”

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

“Code of conduct and code of ethics policies are reviewed and discussed annually with directors and employees. Directors and employees sign a statement of acknowledge/understanding and are required to disclose any possible conflicts of interest.”

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

“The salary review committee is provided with comparable data from the wi cu league and cuna salary surveys to use in determining compensation for the president/ceo. Approval of the compensation is obtained at a board meeting and documented in the minutes.”

Form 990, Page 6, Part VI, Line 19

“Governing documents and conflicet of interest policy avaiable upon request. Monthly financial statements are posted on the member bulletin board located in the entrance of the credit union.”

Filing and Contact Details

Filer

Filer Name
Bay Shore Credit Union
EIN
39-0963263
Phone
7157320065
Address
PO BOX 655, MARINETTE, WI 54143

Signing Officer

Name
Vicki Carviou
Title
President
Phone
7157320065
Signed
2020-03-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vicki Carviou
Formed
1953
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
5
Employees
11
Volunteers
5

Preparer

Firm
Audit Threesixty
Address
1202 JOHNSON ST, ONALASKA, WI 54650-2008
Preparer
Peter Rasmussen
Phone
6083173765
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

“The credit union holds funds in escrow accounts for property taxes and homeowners insurance related to mortgage loans.”

Raw XML Appendix359 raw XML fields

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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IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt05626000
IRS990ScheduleD/InvstProgramRelatedOrgGrp/BookValueAmt1231198
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc0INVESTMENTS W/ MATURITY > 1 YR
IRS990ScheduleD/InvstProgramRelatedOrgGrp/Desc1CORP CENTRAL CAPITAL A/C'S
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd0C
IRS990ScheduleD/InvstProgramRelatedOrgGrp/MethodValuationCd1C
IRS990ScheduleD/LandGrp/BookValueAmt015000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt015000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt026224359
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt114458
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2-294
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0MEMBER SHARES & DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1457B PLAN LIABILITY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ADJUST ESCROW TO LINE 21 BAL SHEET
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CREDIT UNION HOLDS FUNDS IN ESCROW ACCOUNTS FOR PROPERTY TAXES AND HOMEOWNERS INSURANCE RELATED TO MORTGAGE LOANS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
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IRS990ScheduleD/TotalBookValueProgramRltdAmt05857198
IRS990ScheduleD/TotalLiabilityAmt026238523
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. TO BE A MEMBER ONE MUST HAVE A SHARE (SAVINGS) ACCOUNT AT THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS IS ELECTED BY THE CREDIT UNION MEMBERS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A MEMBER VOTE IS REQUIRED FOR DECISIONS WHICH ARE BEYOND THE AUTHORITY OF THE BOARD OF DIRECTORS. ITEMS WHICH REQUIRE A MEMBERSHIP VOTE ARE OUTLINED AND SPECIFIED IN OUR BYLAWS. EACH MEMBER HAS ONE VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MANAGEMENT PROVIDES NECESSARY DATA TO INDEPENDENT TAX RETURN PREPARER WHO COMPLETES THE RETURN. MANAGEMENT AND THE INTERNAL AUDITOR REVIEW THE RETURN FOR ACCURACY AND THEN AUTHORIZE THE PREPARER TO E-FILE THE APPROVED RETURN. MANAGEMENT REVIEWS THE RETURN WITH THE DIRECTORS AT THE NEXT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CODE OF CONDUCT AND CODE OF ETHICS POLICIES ARE REVIEWED AND DISCUSSED ANNUALLY WITH DIRECTORS AND EMPLOYEES. DIRECTORS AND EMPLOYEES SIGN A STATEMENT OF ACKNOWLEDGE/UNDERSTANDING AND ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE SALARY REVIEW COMMITTEE IS PROVIDED WITH COMPARABLE DATA FROM THE WI CU LEAGUE AND CUNA SALARY SURVEYS TO USE IN DETERMINING COMPENSATION FOR THE PRESIDENT/CEO. APPROVAL OF THE COMPENSATION IS OBTAINED AT A BOARD MEETING AND DOCUMENTED IN THE MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS AND CONFLICET OF INTEREST POLICY AVAIABLE UPON REQUEST. MONTHLY FINANCIAL STATEMENTS ARE POSTED ON THE MEMBER BULLETIN BOARD LOCATED IN THE ENTRANCE OF THE CREDIT UNION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt030826354
IRS990/TotalAssetsEOYAmt032259029
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt01161153
IRS990/TotalGrossUBIAmt09269
IRS990/TotalLiabilitiesBOYAmt025324923
IRS990/TotalLiabilitiesEOYAmt026355045
IRS990/TotalLiabilitiesGrp/BOYAmt025324923
IRS990/TotalLiabilitiesGrp/EOYAmt026355045
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt05501431
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt05903984
IRS990/TotalOtherCompensationAmt035291
IRS990/TotalProgramServiceRevenueAmt01259825
IRS990/TotalReportableCompFromOrgAmt074699
IRS990/TotalRevenueGrp/ExclusionAmt0303881
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01250556
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01563706
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt09269
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt030826354
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IRS990/WebsiteAddressTxt0WWW.BAYSHORECU.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0VICKI CARVIOU
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07157320065
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-03-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BAY SHORE CREDIT UNION
ReturnHeader/Filer/BusinessNameControlTxt0BAYS
ReturnHeader/Filer/EIN0390963263
ReturnHeader/Filer/PhoneNum07157320065
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 655
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId05FA08F3168DAA0B72D4E7F0D679A1E851BDE6807
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt097.88.144.85
ReturnHeader/FilingSecurityInformation/IPDt02020-03-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm016:12:54
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0811697509
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0AUDIT THREESIXTY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01202 JOHNSON ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ONALASKA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0546502008
ReturnHeader/PreparerPersonGrp/PhoneNum06083173765
ReturnHeader/PreparerPersonGrp/PreparationDt02020-03-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PETER RASMUSSEN
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-03-23T16:12:54-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$32,259,029
Liabilities
$26,355,045
Net assets
$5,903,984
Revenue
$1,563,706
Expenses
$1,161,153
Net income
$402,553
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$44.6$38.2$6.38$1.40$1.25$0.15
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.2$32.0$6.22$1.53$1.21$0.32
2019Detailed filing. Detailed filing data is available for this year.$32.3$26.4$5.90$1.56$1.16$0.40
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.8$25.3$5.50$1.37$1.04$0.34
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$29.2$24.1$5.17$1.21$1.02$0.19
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$28.5$23.5$4.98$1.17$1.03$0.14
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.6$23.7$4.84$1.13$0.95$0.18
2014Detailed filing. Detailed filing data is available for this year.$28.6$24.0$4.66$1.09$0.94$0.15
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$28.1$23.6$4.51$1.04$0.95$0.09
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$22.9$4.42$0.98
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.9$21.6$4.30$1.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.6$21.5$4.16$1.13