Civic Intelligence

Waterloo Convention & Visitors Bureau Inc

990 • Fiscal year 2016 • EIN 42-1496341

Jul 01, 2015 to Jun 30, 2016 • Filed on Dec 15, 2016

Organization ProfileWWW.WATERLOOCVB.ORG
500 Jefferson StreetWaterloo, IA 50701

(319) 233-8350

Siviq Scores

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

Liabilities / Assets

17th percentile

0.01x

Higher debt load relative to assets than 17% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

18th percentile

0.02x

Higher debt load relative to revenue than 18% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Net Margin

77th percentile

12%

Higher net margin than 77% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

30th percentile

$82,108

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 12.5% of source-year revenue.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2016

Asset Growth

60th percentile

6.7%

Faster asset growth than 60% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

63rd percentile

6.7%

Faster revenue growth than 63% of similar nonprofits.

2016 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets17th percentile

Assets

Up

$1,301,034

Up $81,822 (+6.7%) from 2015

Net Assets

Up

$1,288,174

Up $78,100 (+6.5%) from 2015

Liabilities

Up

$12,860

Up $3,722 (+41%) from 2015

Revenue And Expenses
Liabilities / Revenue18th percentileNet Margin77th percentile

Revenue

Up

$655,934

Up $41,387 (+6.7%) from 2015

Expenses

Down

$577,834

Down $33,267 (-5.4%) from 2015

Net Income

Up

$78,100

Up $74,654 (+2166%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,130,177Liabilities 2011: $13,310Net Assets 2011: $1,116,8672011Assets 2012: $1,228,776Liabilities 2012: $14,302Net Assets 2012: $1,214,4742012Assets 2013: $1,226,229Liabilities 2013: $11,106Net Assets 2013: $1,215,1232013Assets 2014: $1,217,099Liabilities 2014: $10,471Net Assets 2014: $1,206,6282014Assets 2015: $1,219,212Liabilities 2015: $9,138Net Assets 2015: $1,210,0742015Assets 2016: $1,301,034Liabilities 2016: $12,860Net Assets 2016: $1,288,1742016Assets 2017: $1,350,812Liabilities 2017: $9,428Net Assets 2017: $1,341,3842017Assets 2018: $1,409,854Liabilities 2018: $17,877Net Assets 2018: $1,391,9772018Assets 2019: $1,357,491Liabilities 2019: $27,765Net Assets 2019: $1,329,7262019Assets 2020: $1,220,258Liabilities 2020: $17,163Net Assets 2020: $1,203,0952020Assets 2021: $1,225,025Liabilities 2021: $104,104Net Assets 2021: $1,120,9212021Assets 2022: $1,384,839Liabilities 2022: $17,340Net Assets 2022: $1,367,4992022Assets 2023: $1,455,980Liabilities 2023: $98,839Net Assets 2023: $1,357,1412023Assets 2024: $1,541,552Liabilities 2024: $348,534Net Assets 2024: $1,193,0182024

Highlighted filing

2016

Assets$1,301,034
Liabilities$12,860
Net Assets$1,288,174
Open 2016 Filing

Operations Trend

Revenue Growth63rd percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2011: $523,7272011Expenses 2012: $540,5272012Expenses 2013: $630,8642013Revenue 2014: $607,422Expenses 2014: $601,791Net Income 2014: $5,6312014Revenue 2015: $614,547Expenses 2015: $611,101Net Income 2015: $3,4462015Revenue 2016: $655,934Expenses 2016: $577,834Net Income 2016: $78,1002016Revenue 2017: $634,817Expenses 2017: $581,607Net Income 2017: $53,2102017Revenue 2018: $657,226Expenses 2018: $606,633Net Income 2018: $50,5932018Revenue 2019: $717,813Expenses 2019: $780,064Net Income 2019: -$62,2512019Revenue 2020: $617,843Expenses 2020: $744,474Net Income 2020: -$126,6312020Revenue 2021: $527,156Expenses 2021: $609,330Net Income 2021: -$82,1742021Revenue 2022: $986,654Expenses 2022: $740,076Net Income 2022: $246,5782022Revenue 2023: $959,664Expenses 2023: $970,021Net Income 2023: -$10,3572023Revenue 2024: $995,250Expenses 2024: $1,124,373Net Income 2024: -$129,1232024

Highlighted filing

2016

Revenue$655,934
Expenses$577,834
Net Income$78,100
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Dec 15, 2016
Return Version
2015v3.0
Gross Receipts
$655,934
Mission and Program Overview

Mission

To promote tourism to waterloo, iowa.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$538,290$794,496▲ $256,206
Accounts Receivable$303,436$325,221▲ $21,785
Cash and Non-Interest-Bearing Accounts$297,302$118,118▼ $179,184
Land, Buildings, and Equipment, Net$67,406$49,196▼ $18,210
Prepaid Expenses and Deferred Charges$11,723$12,430▲ $707
Total Assets$1,219,212$1,301,034▲ $81,822
Other Assets Total$1,055$1,573▲ $518
Liabilities
Accounts Payable and Accrued Expenses$9,138$12,860▲ $3,722
Total Liabilities$9,138$12,860▲ $3,722
Net Assets / Fund Balance
Unrestricted Net Assets$1,210,074$1,288,174▲ $78,100
Total Net Assets Fund Balance$1,210,074$1,288,174▲ $78,100
Total Liabilities and Net Assets / Fund Balance$1,219,212$1,301,034▲ $81,822

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$44,830$81,094$125,924
Equipment$4,366$62,436$66,802
Compensation and Service Providers
Top Officer Pay30th percentile

Employees

NameTitleBaseOtherTotal
Aaron BuzzaExecutive Di$78,950$3,158$82,108

Board Members and Trustees

NameTitle
Tavis HallPresident
Andy MillerDirector
Bari RichterDirector
Bob FahrDirector
Caleb KrecklowDirector
Chawne PaigeDirector
Christy DeckerDirector
Dharmendra PatelDirector
Doug MillerDirector
Heather PrendergastDirector
Jane GordonDirector
John HayesDirector
Sherman WiseDirector
Dave BuckTreasurer
John BeckmanVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$641,085
Program Service Revenue
$0
Investment Income
$7,350
Other Revenue
$7,499
Change in Net Assets
$78,100

Audited Revenue Reconciliation

Revenue per Audited Statements
$655,934
Total Revenue per Audited Statements
$655,934
Total Revenue per Form 990
$655,934
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$301,549
Salaries, Compensation, and Employee Benefits$276,285
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$143,711
Current Officers, Directors, Trustees, and Key Employees---$87,333
Occupancy---$38,845
Fees for Services Accounting---$22,079
Other Employee Benefits---$21,674
Depreciation Depletion---$18,212
Payroll Taxes---$17,590
Information Technology---$16,458
Office Expenses---$13,046
All Other Expenses---$9,129
Conferences and Meetings---$8,415
Travel---$6,914
Other Expenses---$6,175
Insurance---$6,053
Pension Plan Contributions---$5,977
Advertising---$4,532
Total Functional Expenses$0$0$0$577,834

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$577,834
Total Expenses per Audited Statements$577,834
Total Expenses per Form 990$577,834
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
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
Yes
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 was delivered to the board of directors prior to being filed. The board approved the form 990 and filed with the appropriate governmental agencies.”

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

“The organization has adopted a conflict of interest policy. Board members are required to read and sign the conflict of interest policy annually disclosing any conflicts. Management then, takes those reports and during board discussions the director(s) with the conflicts is (are) excused for discussion and voting.”

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

“The executive director's salary is determined by the board on comparable data of other directors throughout iowa.”

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

“All other employees' salaries are determined by a suggestion from the executive director during the budgeting process then approved by the board.”

Form 990, Page 6, Part VI, Line 19

“The organization retains a copy of their governing documents, conflict of interest policy and financial statements, and they are available for public inspection upon written request of the organization.”

Filing and Contact Details

Filer

Filer Name
Waterloo Convention & Visitors
EIN
42-1496341
Phone
3192338350
Address
500 JEFFERSON STREET, WATERLOO, IA 50701

Signing Officer

Name
Aaron Buzza
Title
Executive Director
Phone
3192338350
Signed
2016-12-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Aaron Buzza
Formed
1999
Legal Domicile
Ia
Voting Board Members
15
Independent Board Members
15
Employees
6
Volunteers
25

Preparer

Firm
Hogan - Hansen Pc
Address
PO BOX 240, WATERLOO, IA 50704-0240
Preparer
Steven K Duggan CPA
Phone
3192335225
Supplemental Narrative

Additional Explanations

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

“Meeting and conventions to promote waterloo as a site for local, state and regional conventions.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Management annually makes an appropriate evaluation of any uncertain income tax positions based upon current statutes in completing these financial statements and the notes to the financial statements. As of june 30, 2016, management believes that there were no uncertain income tax positions for which a material change in the unrecognized effect would be reasonably possible within the next 12 months.”

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IRS990/ProgSrvcAccomActy2Grp/Desc0GROUP TOUR PROMOTIONS TO INCREASE THE NUMBER OF GROUP TOURS TO WATERLOO.
IRS990/ProgSrvcAccomActy3Grp/Desc0SPORTING EVENTS PROMOTION TO PROMOTE WATERLOO AS A MAJOR SPORTING EVENTS LOCATION.
IRS990/ProgSrvcAccomActyOtherGrp/Desc0MEETING AND CONVENTIONS TO PROMOTE WATERLOO AS A SITE FOR LOCAL, STATE AND REGIONAL CONVENTIONS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT ANNUALLY MAKES AN APPROPRIATE EVALUATION OF ANY UNCERTAIN INCOME TAX POSITIONS BASED UPON CURRENT STATUTES IN COMPLETING THESE FINANCIAL STATEMENTS AND THE NOTES TO THE FINANCIAL STATEMENTS. AS OF JUNE 30, 2016, MANAGEMENT BELIEVES THAT THERE WERE NO UNCERTAIN INCOME TAX POSITIONS FOR WHICH A MATERIAL CHANGE IN THE UNRECOGNIZED EFFECT WOULD BE REASONABLY POSSIBLE WITHIN THE NEXT 12 MONTHS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt0577834
IRS990ScheduleD/TotalRevenuePerForm990Amt0655934
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0655934
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MEETING AND CONVENTIONS TO PROMOTE WATERLOO AS A SITE FOR LOCAL, STATE AND REGIONAL CONVENTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WAS DELIVERED TO THE BOARD OF DIRECTORS PRIOR TO BEING FILED. THE BOARD APPROVED THE FORM 990 AND FILED WITH THE APPROPRIATE GOVERNMENTAL AGENCIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION HAS ADOPTED A CONFLICT OF INTEREST POLICY. BOARD MEMBERS ARE REQUIRED TO READ AND SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY DISCLOSING ANY CONFLICTS. MANAGEMENT THEN, TAKES THOSE REPORTS AND DURING BOARD DISCUSSIONS THE DIRECTOR(S) WITH THE CONFLICTS IS (ARE) EXCUSED FOR DISCUSSION AND VOTING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR'S SALARY IS DETERMINED BY THE BOARD ON COMPARABLE DATA OF OTHER DIRECTORS THROUGHOUT IOWA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL OTHER EMPLOYEES' SALARIES ARE DETERMINED BY A SUGGESTION FROM THE EXECUTIVE DIRECTOR DURING THE BUDGETING PROCESS THEN APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION RETAINS A COPY OF THEIR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS, AND THEY ARE AVAILABLE FOR PUBLIC INSPECTION UPON WRITTEN REQUEST OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0true
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0CITY OF WATERLOO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0426005327
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C1
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0CITY GOVER
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0715 MULBERRY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0WATERLOO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd050703
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0CITY OF WATERLOO
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0C
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IRS990ScheduleR/TransferToOtherOrgInd0false
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalContributionsAmt0641085
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalOtherCompensationAmt03158
IRS990/TotalReportableCompFromOrgAmt078950
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IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt07499
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0655934
IRS990/TotalVolunteersCnt025
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01219212
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01301034
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt01210074
IRS990/UnrestrictedNetAssetsGrp/EOYAmt01288174
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0500 JEFFERSON STREET
IRS990/USAddress/CityNm0WATERLOO
IRS990/USAddress/StateAbbreviationCd0IA
IRS990/USAddress/ZIPCd050701
IRS990/VotingMembersGoverningBodyCnt015
IRS990/VotingMembersIndependentCnt015
IRS990/WebsiteAddressTxt0WWW.WATERLOOCVB.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0AARON BUZZA
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03192338350
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-12-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WATERLOO CONVENTION & VISITORS
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0BUREAU INC
ReturnHeader/Filer/BusinessNameControlTxt0WATE

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,301,034
Liabilities
$12,860
Net assets
$1,288,174
Revenue
$655,934
Expenses
$577,834
Net income
$78,100
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.54$0.35$1.19$1.00$1.12$0.13
2023Detailed filing. Detailed filing data is available for this year.$1.46$0.10$1.36$0.96$0.97$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.02$1.37$0.99$0.74$0.25
2021Detailed filing. Detailed filing data is available for this year.$1.23$0.10$1.12$0.53$0.61$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.22$0.02$1.20$0.62$0.74$0.13
2019Detailed filing. Detailed filing data is available for this year.$1.36$0.03$1.33$0.72$0.78$0.06
2018Detailed filing. Detailed filing data is available for this year.$1.41$0.02$1.39$0.66$0.61$0.05
2017Detailed filing. Detailed filing data is available for this year.$1.35$0.01$1.34$0.63$0.58$0.05
2016Detailed filing. Detailed filing data is available for this year.$1.30$0.01$1.29$0.66$0.58$0.08
2015Detailed filing. Detailed filing data is available for this year.$1.22$0.01$1.21$0.61$0.61$0.00
2014Detailed filing. Detailed filing data is available for this year.$1.22$0.01$1.21$0.61$0.60$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.01$1.22$0.63
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.23$0.01$1.21$0.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.13$0.01$1.12$0.52
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)6 • $1M-$5M nonprofits