Civic Intelligence

Cass County Economic Development Corporation

990 • Fiscal year 2024 • EIN 41-1873815

Oct 01, 2023 to Sep 30, 2024 • Filed on Jan 23, 2025

Organization ProfileWWW.CASSCOUNTYEDC.COM
PO Box 1606Walker, MN 56484

(218) 547-7262

Siviq Scores

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

Liabilities / Assets

46th percentile

0.04x

Higher debt load relative to assets than 46% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

50th percentile

0.08x

Higher debt load relative to revenue than 50% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

96th percentile

78%

Higher net margin than 96% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

77th percentile

$130,049

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 12.7% of source-year revenue.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

93rd percentile

75%

Faster asset growth than 93% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

98th percentile

405%

Faster revenue growth than 98% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$1,753,497

Up $752,057 (+75%) from 2023

Net Assets

Up

$1,675,032

Up $813,890 (+95%) from 2023

Liabilities

Down

$78,465

Down $61,833 (-44%) from 2023

Revenue And Expenses
Liabilities / Revenue50th percentileNet Margin96th percentile

Revenue

Up

$1,027,340

Up $823,955 (+405%) from 2023

Expenses

Up

$227,776

Up $3,413 (+1.5%) from 2023

Net Income

Up

$799,564

Up $820,542 (+3911%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $273,730Liabilities 2011: $23,4052011Assets 2012: $274,738Liabilities 2012: $2,5182012Assets 2013: $287,426Liabilities 2013: $7,7122013Assets 2014: $437,043Liabilities 2014: $110,4432014Assets 2015: $414,418Liabilities 2015: $103,653Net Assets 2015: $310,7652015Assets 2016: $425,404Liabilities 2016: $100,035Net Assets 2016: $325,3692016Assets 2017: $569,401Liabilities 2017: $94,838Net Assets 2017: $474,5632017Assets 2018: $577,805Liabilities 2018: $90,326Net Assets 2018: $487,4792018Assets 2019: $667,742Liabilities 2019: $85,473Net Assets 2019: $582,2692019Assets 2020: $1,055,918Liabilities 2020: $398,927Net Assets 2020: $656,9912020Assets 2021: $995,225Liabilities 2021: $311,533Net Assets 2021: $683,6922021Assets 2022: $1,105,102Liabilities 2022: $222,982Net Assets 2022: $882,1202022Assets 2023: $1,001,440Liabilities 2023: $140,298Net Assets 2023: $861,1422023Assets 2024: $1,753,497Liabilities 2024: $78,465Net Assets 2024: $1,675,0322024Assets 2025: $2,503,459Liabilities 2025: $370,085Net Assets 2025: $2,133,3742025

Highlighted filing

2024

Assets$1,753,497
Liabilities$78,465
Net Assets$1,675,032
Open 2024 Filing

Operations Trend

Revenue Growth98th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $155,976Expenses 2011: $152,160Net Income 2011: $3,8162011Revenue 2012: $179,280Expenses 2012: $157,385Net Income 2012: $21,8952012Revenue 2013: $170,637Expenses 2013: $163,143Net Income 2013: $7,4942013Revenue 2014: $197,864Expenses 2014: $150,978Net Income 2014: $46,8862014Revenue 2015: $127,080Expenses 2015: $142,915Net Income 2015: -$15,8352015Revenue 2016: $151,951Expenses 2016: $137,347Net Income 2016: $14,6042016Revenue 2017: $315,282Expenses 2017: $166,088Net Income 2017: $149,1942017Revenue 2018: $201,955Expenses 2018: $189,039Net Income 2018: $12,9162018Revenue 2019: $281,023Expenses 2019: $186,233Net Income 2019: $94,7902019Revenue 2020: $300,045Expenses 2020: $225,323Net Income 2020: $74,7222020Revenue 2021: $224,456Expenses 2021: $197,755Net Income 2021: $26,7012021Revenue 2022: $413,360Expenses 2022: $214,932Net Income 2022: $198,4282022Revenue 2023: $203,385Expenses 2023: $224,363Net Income 2023: -$20,9782023Revenue 2024: $1,027,340Expenses 2024: $227,776Net Income 2024: $799,5642024Revenue 2025: $727,943Expenses 2025: $275,121Net Income 2025: $452,8222025

Highlighted filing

2024

Revenue$1,027,340
Expenses$227,776
Net Income$799,564
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2023 to Sep 30, 2024
Signed
Jan 23, 2025
Return Version
2023v6.0
Gross Receipts
$1,027,340
Mission and Program Overview

Mission

To work cooperatively with cass county government, businesses and community resources to improve the economy by creating new job opportunities, retaining current employment opportunities, and increasing capital investment in cass county.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net-$1,428,193-
Savings and Temporary Cash Investments$244,010$316,445▲ $72,435
Cash and Non-Interest-Bearing Accounts$7,257$5,339▼ $1,918
Prepaid Expenses and Deferred Charges-$3,520-
Total Assets$1,001,440$1,753,497▲ $752,057
Other Assets Total$750,173--
Liabilities
Mortgage Notes Payable Secured by Investment Property-$57,171-
Other Liabilities$136,444$13,163▼ $123,281
Accounts Payable and Accrued Expenses$3,854$8,131▲ $4,277
Total Liabilities$140,298$78,465▼ $61,833
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,403$1,675,032▲ $1,671,629
Net Assets With Donor Restrictions$857,739--
Total Net Assets Fund Balance$861,142$1,675,032▲ $813,890
Total Liabilities and Net Assets / Fund Balance$1,001,440$1,753,497▲ $752,057
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mike PaulusExecutive DiFT$126,553$3,496$130,049

Board Members and Trustees

NameTitle
Kirsten EggenaPresident
Bill PalmerDirector
Charles BlacklanceDirector
Drey LogeDirector
Joby GoergesDirector
Micah EvelandDirector
Geoff GorvinSecretary
Randall MorrisonTreasurer
Laura HansenVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$833,800
Program Service Revenue
$187,392
Investment Income
$4,629
Other Revenue
$1,519
All Other Contributions
$33,900
Change in Net Assets
$799,564
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$167,140
Other Expenses$60,636
Total Fundraising Expense$32,916
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$51,627$36,139$15,487$103,253
Other Salaries and Wages$17,644$26,319$5,294$49,257
Payroll Taxes$5,357$3,750$1,607$10,714
Travel$4,683$4,683-$9,366
Advertising--$5,355$5,355
Conferences and Meetings$1,970-$1,971$3,941
Other Employee Benefits$1,958$1,370$588$3,916
Office Expenses$1,287$1,091$441$2,819
All Other Expenses$1,093$1,064$123$2,280
Insurance-$1,916-$1,916
Other Expenses$24,649$1,526$2,050$1,526
Total Functional Expenses$110,268$84,592$32,916$227,776
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Compensated Absences$11,538
Payroll Taxes Payable$1,175
Accrued Payroll$450
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
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
No

Governance Explanations

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

“Form 990 will be provided to board members for review and approval at board meeting.”

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

“Every october the board members complete a conflict of interest form and conflicts are then addressed.”

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

“The board president researches the current market and develops a competitive compensation package based on that research. The board then approves this compensation package.”

Form 990, Page 6, Part VI, Line 19

“These documents are available upon request.”

Filing and Contact Details

Filer

Filer Name
Cass County Economic Development
EIN
41-1873815
Phone
2185477262
Address
PO BOX 1606, WALKER, MN 56484

Signing Officer

Name
Kirsten Eggena
Title
President
Phone
2185477262
Signed
2025-01-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kirsten Eggena
Formed
1997
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
9
Employees
2
Volunteers
10

Preparer

Firm
Clasen & Schiessl Cpas Ltd
Address
30954 GOVERNMENT DRIVE, PEQUOT LAKES, MN 56472
Preparer
Susan M Schiessl
Phone
2185685242
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To work cooperatively with cass county government, businesses and community resources to improve the economy by creating new job opportunities, retaining current employment opportunities, and increasing capital investment in cass county.”

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

“The cass county economic development corporation provided 1,270 hours of assistance to about 90 businesses in the fiscal year. Each business received assistance to start, improve or expand their business. Most often the edc helped the owners write a business plan, select a site, or access financing. As a satellite small business development center, we help these businesses recognize the benefits and risks of their business idea. The cass county edc administers a small revolving loan fund to help encourage new and expanding manufacturing businesses. All activities undertaken by the edc are intended to create new jobs, retain existing employment, and increase capital investment in cass county to strengthen the business environment.”

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IRS990/OthNotesLoansReceivableNetGrp/EOYAmt01428193
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IRS990/PayrollTaxesGrp/FundraisingAmt01607
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03750
IRS990/PayrollTaxesGrp/ProgramServicesAmt05357
IRS990/PayrollTaxesGrp/TotalAmt010714
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03520
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt053352
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IRS990/SavingsAndTempCashInvstGrp/EOYAmt0316445
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PROGRAM REVENUE 382,203
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0127881
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt02575
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IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0188911
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IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt061083
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt053086
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt080960
IRS990ScheduleA/OtherIncome170Grp/TotalAmt0382203
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IRS990ScheduleA/PublicSupportPY170Pct00.77220
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IRS990ScheduleA/SubstantialContributorsTotAmt08136
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0216510
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01700021
IRS990ScheduleA/TotalSupportAmt02093184
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
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11175
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt2450
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED COMPENSATED ABSENCES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PAYROLL TAXES PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCRUED PAYROLL
IRS990ScheduleD/TotalLiabilityAmt013163
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO WORK COOPERATIVELY WITH CASS COUNTY GOVERNMENT, BUSINESSES AND COMMUNITY RESOURCES TO IMPROVE THE ECONOMY BY CREATING NEW JOB OPPORTUNITIES, RETAINING CURRENT EMPLOYMENT OPPORTUNITIES, AND INCREASING CAPITAL INVESTMENT IN CASS COUNTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CASS COUNTY ECONOMIC DEVELOPMENT CORPORATION PROVIDED 1,270 HOURS OF ASSISTANCE TO ABOUT 90 BUSINESSES IN THE FISCAL YEAR. EACH BUSINESS RECEIVED ASSISTANCE TO START, IMPROVE OR EXPAND THEIR BUSINESS. MOST OFTEN THE EDC HELPED THE OWNERS WRITE A BUSINESS PLAN, SELECT A SITE, OR ACCESS FINANCING. AS A SATELLITE SMALL BUSINESS DEVELOPMENT CENTER, WE HELP THESE BUSINESSES RECOGNIZE THE BENEFITS AND RISKS OF THEIR BUSINESS IDEA. THE CASS COUNTY EDC ADMINISTERS A SMALL REVOLVING LOAN FUND TO HELP ENCOURAGE NEW AND EXPANDING MANUFACTURING BUSINESSES. ALL ACTIVITIES UNDERTAKEN BY THE EDC ARE INTENDED TO CREATE NEW JOBS, RETAIN EXISTING EMPLOYMENT, AND INCREASE CAPITAL INVESTMENT IN CASS COUNTY TO STRENGTHEN THE BUSINESS ENVIRONMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FORM 990 WILL BE PROVIDED TO BOARD MEMBERS FOR REVIEW AND APPROVAL AT BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3EVERY OCTOBER THE BOARD MEMBERS COMPLETE A CONFLICT OF INTEREST FORM AND CONFLICTS ARE THEN ADDRESSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD PRESIDENT RESEARCHES THE CURRENT MARKET AND DEVELOPS A COMPETITIVE COMPENSATION PACKAGE BASED ON THAT RESEARCH. THE BOARD THEN APPROVES THIS COMPENSATION PACKAGE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToProxyTaxInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TotalEmployeeCnt02
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0110268
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IRS990/TotalGrossUBIAmt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01753497
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1606
IRS990/USAddress/CityNm0WALKER
IRS990/USAddress/StateAbbreviationCd0MN
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IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.CASSCOUNTYEDC.COM
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ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KIRSTEN EGGENA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum02185477262
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-01-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CASS COUNTY ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0CASS

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,753,497
Liabilities
$78,465
Net assets
$1,675,032
Revenue
$1,027,340
Expenses
$227,776
Net income
$799,564
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.50$0.37$2.13$0.73$0.28$0.45
2024Detailed filing. Detailed filing data is available for this year.$1.75$0.08$1.68$1.03$0.23$0.80
2023Summary only. Only limited summary data is available for this year.$1.00$0.14$0.86$0.20$0.22$0.02
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.11$0.22$0.88$0.41$0.21$0.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.31$0.68$0.22$0.20$0.03
2020Summary only. Only limited summary data is available for this year.$1.06$0.40$0.66$0.30$0.23$0.07
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.67$0.09$0.58$0.28$0.19$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.09$0.49$0.20$0.19$0.01
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.57$0.09$0.47$0.32$0.17$0.15
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.43$0.10$0.33$0.15$0.14$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.41$0.10$0.31$0.13$0.14$0.02
2014Summary only. Only limited summary data is available for this year.$0.44$0.11$0.20$0.15$0.05
2013Summary only. Only limited summary data is available for this year.$0.29$0.01$0.17$0.16$0.01
2012Summary only. Only limited summary data is available for this year.$0.27$0.00$0.18$0.16$0.02
2011Summary only. Only limited summary data is available for this year.$0.27$0.02$0.16$0.15$0.00