Civic Intelligence

Vollertsen Jack R Annuity Trust

990 • Fiscal year 2019 • EIN 42-1284566

Jan 01, 2019 to Dec 31, 2019 • Filed on Jun 10, 2020

Organization ProfileN/A
US Bank Na P O Box 0634Milwaukee, WI 53201-0634

(319) 356-9043

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

15th percentile

0.00x

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

19th percentile

-12%

Higher net margin than 19% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

37th percentile

-0.5%

Faster asset growth than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

30th percentile

-4.1%

Faster revenue growth than 30% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets15th percentile

Assets

Down

$2,832,289

Down $13,005 (-0.5%) from 2018

Net Assets

Down

$2,832,289

Down $13,005 (-0.5%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue And Expenses
Liabilities / Revenue15th percentileNet Margin19th percentile

Revenue

Down

$103,646

Down $4,423 (-4.1%) from 2018

Expenses

Up

$115,972

Up $8,820 (+8.2%) from 2018

Net Income

Down

-$12,326

Down $13,243 (-1444%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth37th percentile

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

$3.0M$2.0M$1.0M$0Assets 2011: $2,231,614Liabilities 2011: $0Net Assets 2011: $2,231,6142011Assets 2012: $2,215,286Liabilities 2012: $0Net Assets 2012: $2,215,2862012Assets 2013: $2,226,955Liabilities 2013: $0Net Assets 2013: $2,226,9552013Assets 2014: $2,230,963Liabilities 2014: $0Net Assets 2014: $2,230,9632014Assets 2015: $2,897,637Liabilities 2015: $0Net Assets 2015: $2,897,6372015Assets 2016: $2,864,096Liabilities 2016: $0Net Assets 2016: $2,864,0962016Assets 2017: $2,844,718Liabilities 2017: $0Net Assets 2017: $2,844,7182017Assets 2018: $2,845,294Liabilities 2018: $0Net Assets 2018: $2,845,2942018Assets 2019: $2,832,289Liabilities 2019: $0Net Assets 2019: $2,832,2892019Assets 2020: $2,835,993Liabilities 2020: $0Net Assets 2020: $2,835,9932020Assets 2021: $2,896,649Liabilities 2021: $0Net Assets 2021: $2,896,6492021Assets 2022: $2,904,435Liabilities 2022: $0Net Assets 2022: $2,904,4352022Assets 2023: $2,949,090Liabilities 2023: $0Net Assets 2023: $2,949,0902023Assets 2024: $2,952,407Liabilities 2024: $0Net Assets 2024: $2,952,4072024

Highlighted filing

2019

Assets$2,832,289
Liabilities$0
Net Assets$2,832,289
Open 2019 Filing

Operations Trend

Revenue Growth30th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $72,031Expenses 2011: $72,497Net Income 2011: -$4662011Revenue 2012: $61,840Expenses 2012: $78,168Net Income 2012: -$16,3282012Revenue 2013: $88,423Expenses 2013: $76,754Net Income 2013: $11,6692013Revenue 2014: $91,090Expenses 2014: $87,082Net Income 2014: $4,0082014Revenue 2015: $752,584Expenses 2015: $85,910Net Income 2015: $666,6742015Revenue 2016: $56,782Expenses 2016: $90,323Net Income 2016: -$33,5412016Revenue 2017: $77,973Expenses 2017: $96,309Net Income 2017: -$18,3362017Revenue 2018: $108,069Expenses 2018: $107,152Net Income 2018: $9172018Revenue 2019: $103,646Expenses 2019: $115,972Net Income 2019: -$12,3262019Revenue 2020: $103,966Expenses 2020: $99,530Net Income 2020: $4,4362020Revenue 2021: $190,204Expenses 2021: $127,730Net Income 2021: $62,4742021Revenue 2022: $130,251Expenses 2022: $121,700Net Income 2022: $8,5512022Revenue 2023: $118,063Expenses 2023: $72,950Net Income 2023: $45,1132023Revenue 2024: $167,932Expenses 2024: $163,293Net Income 2024: $4,6392024

Highlighted filing

2019

Revenue$103,646
Expenses$115,972
Net Income-$12,326
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Jun 10, 2020
Return Version
2019v5.0
Gross Receipts
$332,389
Mission and Program Overview

Mission

Support of the university of iowa, iowa city, ia for the jack r. Vollertsen scholarship program.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$2,845,294$2,832,289▼ $13,005
Investments in Publicly Traded Securities$2,727,670$2,707,801▼ $19,869
Savings and Temporary Cash Investments$117,624$124,488▲ $6,864
Total Assets$2,845,294$2,832,289▼ $13,005
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$2,845,294$2,832,289▼ $13,005
Total Liabilities and Net Assets / Fund Balance$2,845,294$2,832,289▼ $13,005
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Janice ElligChair
Diane K BrownleePresident
Kathy DoreVice Chair
-Vice President & Assistant Secretary
Sherri P FurmanTrustee
Lynette L MarshallCFO & Treasurer
Tiffani K ShawSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$103,646
Other Revenue
$0
Change in Net Assets
$-12,326
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$81,873
Other Expenses$34,099
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$81,873--$81,873
Fees for Service Investment Mgmnt Fees$0$31,524-$31,524
Other Expenses-$1,825-$1,825
Fees for Services Accounting-$750-$750
Total Functional Expenses$81,873$34,099$0$115,972
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
University of Iowa FoundationIowa City, IA501(c)(3)To Support the Jack R. Vollertsen Scholarship Program Which Gives Scholarships to Students Enrolled in the College of Law at the University of Iowa.$81,873
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8A

“No formal meetings are held or documented”

EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8B

“No formal meetings are held or documented.”

Form 990, Page 6, Part VI, Line 11-description of Process for Review

“The 990 was forwarded to the trustee for review, signature and filing. A copy of the return was provided for the trustee's records.”

Explanation for Form 990, Page 6, Part VI, Line 9

“The trustee and the individual directors can all be reached at the university of iowa foundation, p.o. Box 4550, iowa city, ia 52244-4550”

Form 990, Page 6, Part VI, Line 18

“UPON WRITTEN REQUEST”

Form 990, Page 6, Part VI, Line 19

“UPON WRITTEN REQUEST”

Filing and Contact Details

Filer

Filer Name
Vollertsen Jack R Annuity Trust
EIN
42-1284566
Phone
3193569043
Address
US BANK NA P O BOX 0634, MILWAUKEE, WI 53201-0634

Signing Officer

Name
University of Iowa Foundation
Title
Trustee
Phone
3193569043
Signed
2020-06-10
Discuss with paid preparer
Yes

Organization Details

Formed
1982
Legal Domicile
Ia
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Firm
Pricewaterhousecoopers Llp
Address
600 GRANT STREET, PITTSBURGH, PA 15219
Preparer
Joseph J Castriano
Phone
4123556000
Supplemental Narrative

Additional Explanations

Explanation for Form 990, Part XI, Line 9

“Py return of capital (-735.34), cost basis adjustment 56.34”

Raw XML Appendix376 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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE JACK R VOLLERTSEN ANNUITY TRUST MAINTAINS A CLOSE AND CONTINUOUS WORKING RELATIONSHIP WITH THE UNIVERSITY OF IOWA BY HOLDING FUNDS FOR EXEMPT EDUCATIONAL PURPOSE OF THE UNIVERSITY FOR THE DONOR'S EXPRESSL Y DESIGNATED AREAS OF SUPPORT, OF WHICH THE UNIVERSITY ADMINISTERS AND DISTRIBUTES THE FUNDS FOR THE DESIGNATED PURPOSE
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt2THE JACK R VOLLERTSEN ANNUITY TRUST PROVIDES FUNDING FOR SPECIFIC PROG RAMS BENEFITING A DIVISION OF THE UNIVERSITY WHICH, BUT FOR THE TRUST, COULD BE AND WOULD BE PROVIDED BY THE UNIVERSITY HAD THE FUNDS BEEN L EFT DIRECTLY TO THE UNIVERSITY AS OPPOSED TO THE TRUST.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc2EXPLANATION FOR SCHEDULE A PAGE 5 PART IV SECTION E LINE 2B
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE SCHOLARSHIP AND LOAN COMMITTEE OF THE COLLEGE OF LAW AT THE UNIVERSITY OF IOWA MAINTAINS AND CONDUCTS THE JACK R VOLLERTSEN SCHOLARSHIP PROGRAM. SCHOLARSHIPS ARE AWARDED ONLY TO PERSONS BORN AND EDUCATED IN IOWA SCHOOLS WITH PREFERENCE AND PRIORITY TO PERSONS FROM THE GEOGRAPHICAL AREA IN THE SEVENTH JUDICAL DISTRICT OF THE STATE OF IOWA.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, SCHEDULE I, PART 1, LINE 2
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO FORMAL MEETINGS ARE HELD OR DOCUMENTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1NO FORMAL MEETINGS ARE HELD OR DOCUMENTED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 WAS FORWARDED TO THE TRUSTEE FOR REVIEW, SIGNATURE AND FILING. A COPY OF THE RETURN WAS PROVIDED FOR THE TRUSTEE'S RECORDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE TRUSTEE AND THE INDIVIDUAL DIRECTORS CAN ALL BE REACHED AT THE UNIVERSITY OF IOWA FOUNDATION, P.O. BOX 4550, IOWA CITY, IA 52244-4550
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5UPON WRITTEN REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PY RETURN OF CAPITAL (-735.34), COST BASIS ADJUSTMENT 56.34
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11-DESCRIPTION OF PROCESS FOR REVIEW
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3EXPLANATION FOR FORM 990, PAGE 6, PART VI, LINE 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6EXPLANATION FOR FORM 990, PART XI, LINE 9
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0true
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0420796760
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(c)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0FOR SUPPORT OF SCHOLARSHIPS TO UNIVERSITY OF
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0509(a)(1)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0PO BOX 4550
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0IOWA CITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd0522444550
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IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02845294
IRS990/TotalAssetsEOYAmt02832289
IRS990/TotalAssetsGrp/BOYAmt02845294
IRS990/TotalAssetsGrp/EOYAmt02832289
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt034099
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt081873
IRS990/TotalFunctionalExpensesGrp/TotalAmt0115972
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02845294
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02832289
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt081873
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0103646
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0103646
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02845294
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02832289
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IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 4550
IRS990/USAddress/CityNm0IOWA CITY
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd0522244455
IRS990/VotingMembersGoverningBodyCnt00
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-06 18:47:13Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0UNIVERSITY OF IOWA FOUNDATION
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum03193569043
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-06-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0VOLLERTSEN JACK R ANNUITY TRUST
ReturnHeader/Filer/BusinessNameControlTxt0VOLL
ReturnHeader/Filer/EIN0421284566
ReturnHeader/Filer/PhoneNum03193569043
ReturnHeader/Filer/USAddress/AddressLine1Txt0US BANK NA P O BOX 0634
ReturnHeader/Filer/USAddress/CityNm0MILWAUKEE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd0532010634
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0A0905D21AB03DA5902F3F11424555F8DBCFA9F77
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId09384C3CFAB773074170CC1A843BA3ACD34B50B77
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0155.201.35.117
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0134008324
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PRICEWATERHOUSECOOPERS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0600 GRANT STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PITTSBURGH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd015219
ReturnHeader/PreparerPersonGrp/PhoneNum04123556000
ReturnHeader/PreparerPersonGrp/PreparationDt02020-06-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JOSEPH J CASTRIANO
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02020-07-08T11:13:10-05:00
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
$2,832,289
Liabilities
$0
Net assets
$2,832,289
Revenue
$103,646
Expenses
$115,972
Net income
-$12,326
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.95$0.00$2.95$0.17$0.16$0.00
2023Detailed filing. Detailed filing data is available for this year.$2.95$0.00$2.95$0.12$0.07$0.05
2022Detailed filing. Detailed filing data is available for this year.$2.90$0.00$2.90$0.13$0.12$0.01
2021Detailed filing. Detailed filing data is available for this year.$2.90$0.00$2.90$0.19$0.13$0.06
2020Detailed filing. Detailed filing data is available for this year.$2.84$0.00$2.84$0.10$0.10$0.00
2019Detailed filing. Detailed filing data is available for this year.$2.83$0.00$2.83$0.10$0.12$0.01
2018Summary only. Only limited summary data is available for this year.$2.85$0.00$2.85$0.11$0.11$0.00
2017Summary only. Only limited summary data is available for this year.$2.84$0.00$2.84$0.08$0.10$0.02
2016Summary only. Only limited summary data is available for this year.$2.86$0.00$2.86$0.06$0.09$0.03
2015Summary only. Only limited summary data is available for this year.$2.90$0.00$2.90$0.75$0.09$0.67
2014Summary only. Only limited summary data is available for this year.$2.23$0.00$2.23$0.09$0.09$0.00
2013Summary only. Only limited summary data is available for this year.$2.23$0.00$2.23$0.09$0.08$0.01
2012Summary only. Only limited summary data is available for this year.$2.22$0.00$2.22$0.06$0.08$0.02
2011Summary only. Only limited summary data is available for this year.$2.23$0.00$2.23$0.07$0.07$0.00
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • $1M-$5M nonprofits