Civic Intelligence

Miami-Dade Foundation for Educational Innovation Inc

990 • Fiscal year 2016 • EIN 45-2690728

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 31, 2017

Organization ProfileWWW.AIECHARTERSCHOOL.ORG

View Organization Page

1080 Labaron DriveMiami Springs, FL 33166

(305) 883-3900

Siviq Scores

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

Liabilities / Assets

64th percentile

0.22x

Higher debt load relative to assets than 64% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

45th percentile

0.08x

Higher debt load relative to revenue than 45% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

64th percentile

7.5%

Higher net margin than 64% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

73rd percentile

$109,015

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

87th percentile

33%

Faster asset growth than 87% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Revenue Growth

70th percentile

13%

Faster revenue growth than 70% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets64th percentile

Assets

Up

$1,111,570

Up $272,789 (+33%) from 2015

Net Assets

Up

$863,091

Up $229,590 (+36%) from 2015

Liabilities

Up

$248,479

Up $43,199 (+21%) from 2015

Revenue And Expenses
Liabilities / Revenue45th percentileNet Margin64th percentile

Revenue

Up

$3,064,802

Up $355,799 (+13%) from 2015

Expenses

Up

$2,835,212

Up $264,579 (+10%) from 2015

Net Income

Up

$229,590

Up $91,220 (+66%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

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

$10M$5.0M$0Assets 2012: $69,975Liabilities 2012: $61,152Net Assets 2012: $8,8232012Assets 2013: $304,109Liabilities 2013: $155,393Net Assets 2013: $148,7162013Assets 2014: $673,808Liabilities 2014: $178,677Net Assets 2014: $495,1312014Assets 2015: $838,781Liabilities 2015: $205,280Net Assets 2015: $633,5012015Assets 2016: $1,111,570Liabilities 2016: $248,479Net Assets 2016: $863,0912016Assets 2017: $1,686,571Liabilities 2017: $577,587Net Assets 2017: $1,108,9842017Assets 2018: $1,907,502Liabilities 2018: $441,318Net Assets 2018: $1,466,1842018Assets 2019: $1,998,737Liabilities 2019: $414,060Net Assets 2019: $1,584,6772019Assets 2020: $2,838,494Liabilities 2020: $1,197,298Net Assets 2020: $1,641,1962020Assets 2021: $4,581,700Liabilities 2021: $1,054,084Net Assets 2021: $3,527,6162021Assets 2022: $5,769,688Liabilities 2022: $2,771,522Net Assets 2022: $2,998,1662022Assets 2023: $8,586,584Liabilities 2023: $4,109,486Net Assets 2023: $4,477,0982023

Highlighted filing

2016

Assets$1,111,570
Liabilities$248,479
Net Assets$863,091
Open 2016 Filing

Operations Trend

Revenue Growth70th percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2012: $832,238Expenses 2012: $823,415Net Income 2012: $8,8232012Expenses 2013: $1,850,4812013Revenue 2014: $2,483,115Expenses 2014: $2,136,700Net Income 2014: $346,4152014Revenue 2015: $2,709,003Expenses 2015: $2,570,633Net Income 2015: $138,3702015Revenue 2016: $3,064,802Expenses 2016: $2,835,212Net Income 2016: $229,5902016Revenue 2017: $3,661,168Expenses 2017: $3,415,275Net Income 2017: $245,8932017Revenue 2018: $4,319,156Expenses 2018: $3,961,956Net Income 2018: $357,2002018Revenue 2019: $4,864,753Expenses 2019: $4,746,260Net Income 2019: $118,4932019Revenue 2020: $5,839,306Expenses 2020: $5,783,426Net Income 2020: $55,8802020Revenue 2021: $8,870,281Expenses 2021: $6,983,861Net Income 2021: $1,886,4202021Revenue 2022: $7,788,974Expenses 2022: $8,318,424Net Income 2022: -$529,4502022Revenue 2023: $11,518,265Expenses 2023: $10,056,390Net Income 2023: $1,461,8752023

Highlighted filing

2016

Revenue$3,064,802
Expenses$2,835,212
Net Income$229,590
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 31, 2017
Return Version
2015v3.0
Gross Receipts
$3,064,802
Mission and Program Overview

Mission

To provide students with a comprehensive international education through the use of technology and language acquisition, so that students will become life-long inquisitive learners and utilize this knowledge across international boundaries.

To prepare our students to be independent multilingual citizens in a global society

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$600,203$850,558▲ $250,355
Cash and Non-Interest-Bearing Accounts$151,022$161,672▲ $10,650
Land, Buildings, and Equipment, Net$83,408$82,822▼ $586
Inventories for Sale or Use-$10,542-
Prepaid Expenses and Deferred Charges$4,148$5,976▲ $1,828
Total Assets$838,781$1,111,570▲ $272,789
Liabilities
Accounts Payable and Accrued Expenses$140,004$214,004▲ $74,000
Other Liabilities$65,276$34,475▼ $30,801
Total Liabilities$205,280$248,479▲ $43,199
Net Assets / Fund Balance
Unrestricted Net Assets$633,501$863,091▲ $229,590
Total Net Assets Fund Balance$633,501$863,091▲ $229,590
Total Liabilities and Net Assets / Fund Balance$838,781$1,111,570▲ $272,789

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$52,147$43,117$95,264
Leasehold Improvements$30,675$35,373$66,048
Compensation and Service Providers
Top Officer Pay73rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Vera a HirshPrincipalFT$109,015$109,015

Board Members and Trustees

NameTitle
Michael BellPresident &
Linnette ColemanDirector
Myra E SilversteinDirector
Darleny GilSecretary &

Highest Paid Contractors

ContractorServicesLocationCompensation
School Board Of Miami-dade CountyManagement Serv1450 NE 2ND AVE, Miami, FL 33132$179,958
Revenue and Support

Revenue Composition

Contributions and Grants
$11,578
Program Service Revenue
$3,025,624
Investment Income
$0
Other Revenue
$27,600
All Other Contributions
$11,578
Change in Net Assets
$229,590

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,064,802
Total Revenue per Audited Statements
$3,064,802
Total Revenue per Form 990
$3,064,802
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,950,497
Other Expenses$884,715
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,414,918$157,213-$1,572,131
Occupancy$179,116$19,902-$199,018
All Other Expenses$139,206$50,027-$189,233
Payroll Taxes$119,688$13,299-$132,987
Other Employee Benefits$119,578$13,286-$132,864
Current Officers, Directors, Trustees, and Key Employees$56,258$56,257-$112,515
Information Technology$43,549$2,292-$45,841
Other Expenses$38,190$41,330-$38,190
Insurance$22,301$2,478-$24,779
Depreciation Depletion$16,205$4,051-$20,256
Fees for Services Legal-$15,000-$15,000
Travel$3,878$2,422-$6,300
Fees for Services Accounting-$5,000-$5,000
Total Functional Expenses$2,353,875$481,337$0$2,835,212

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,835,212
Total Expenses per Audited Statements$2,835,212
Total Expenses per Form 990$2,835,212
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
Due to Mdc School Distr. Within 1yr$17,238
Due to Mdc School Distr. Aft. 1yr$17,237
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
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

“The principal and board of directors review the form 990 prior to filing.”

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

“The board members are required to complete a state of florida form 8b memorandum of voting conflict when a conflict of interest is brought up at a board meeting.”

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

“The board of directors reviews the annual compensation of other comparable principals in the state of florida and in miami-dade county, as a basis for determineing compensation.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy, and financial statements are availble upon request.”

Filing and Contact Details

Filer

Filer Name
Miami-dade Foundation for
EIN
45-2690728
Phone
3058833900
Address
1080 LABARON DRIVE, MIAMI SPRINGS, FL 33166
Doing Business As
Academy for International Education

Signing Officer

Name
Vera a Hirsh
Title
Principal
Phone
3058833900
Signed
2017-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Vera a Hirsh
Formed
2011
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
62
Volunteers
125

Preparer

Firm
Sotolongo & Associates Pa
Address
8380 SW EIGHT ST, MIAMI, FL 33144
Preparer
Emil Sotolongo CPA
Phone
3057765778
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To provide students with a comprehensive international education through the use of technology and language acquisition, so that students will become life-long inquisitive learners and utilize this knowledge across international boundaries.”

Financial Statement Notes

Schedule D, Page 3, Part X

“Miami-dade foundation for educational innovation, inc. ("mdfei") is an organization exempt from income taxation under section 501(a) as an entity described in section 501(c)(3) of the internal revenue code of 1986, as amended. Accordingly, no provision for federal income taxes is included in the accompanying financial statements. Mdfei has adopted guidance related to accounting for uncertainty in income taxes, which prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position that an entity takes or expects to take in a tax return. This guidance is applicable to not-for- profit organizations that may be conducting unrelated business activities, which are potentially subject to income taxes, including state income taxes. Mdfei assesses its income tax positions, including its continuing tax status as a not-for-profit entity, and recognizes tax benefits only to the extent that mdfei believes it is "more likely than not" that its tax positions will be sustained upon an examination by the internal revenue service ("irs") or the applicable state taxing authority. Accordingly, there is no provision for federal income taxes in the school's financial statements, as mdfei believes all tax positions, including its continuing status as a not-for-profit entity, have a greater than 50% chance of realization in the event of an irs audit. State income taxes, which may be due in certain jurisdictions, have been assessed following the same "more likely than not" measurement threshold.”

Raw XML Appendix389 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/OtherLiabilitiesOrgGrp/Amt017238
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt117237
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO MDC SCHOOL DISTR. WITHIN 1YR
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DUE TO MDC SCHOOL DISTR. AFT. 1YR
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MIAMI-DADE FOUNDATION FOR EDUCATIONAL INNOVATION, INC. ("MDFEI") IS AN ORGANIZATION EXEMPT FROM INCOME TAXATION UNDER SECTION 501(A) AS AN ENTITY DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. ACCORDINGLY, NO PROVISION FOR FEDERAL INCOME TAXES IS INCLUDED IN THE ACCOMPANYING FINANCIAL STATEMENTS. MDFEI HAS ADOPTED GUIDANCE RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION THAT AN ENTITY TAKES OR EXPECTS TO TAKE IN A TAX RETURN. THIS GUIDANCE IS APPLICABLE TO NOT-FOR- PROFIT ORGANIZATIONS THAT MAY BE CONDUCTING UNRELATED BUSINESS ACTIVITIES, WHICH ARE POTENTIALLY SUBJECT TO INCOME TAXES, INCLUDING STATE INCOME TAXES. MDFEI ASSESSES ITS INCOME TAX POSITIONS, INCLUDING ITS CONTINUING TAX STATUS AS A NOT-FOR-PROFIT ENTITY, AND RECOGNIZES TAX BENEFITS ONLY TO THE EXTENT THAT MDFEI BELIEVES IT IS "MORE LIKELY THAN NOT" THAT ITS TAX POSITIONS WILL BE SUSTAINED UPON AN EXAMINATION BY THE INTERNAL REVENUE SERVICE ("IRS") OR THE APPLICABLE STATE TAXING AUTHORITY. ACCORDINGLY, THERE IS NO PROVISION FOR FEDERAL INCOME TAXES IN THE SCHOOL'S FINANCIAL STATEMENTS, AS MDFEI BELIEVES ALL TAX POSITIONS, INCLUDING ITS CONTINUING STATUS AS A NOT-FOR-PROFIT ENTITY, HAVE A GREATER THAN 50% CHANCE OF REALIZATION IN THE EVENT OF AN IRS AUDIT. STATE INCOME TAXES, WHICH MAY BE DUE IN CERTAIN JURISDICTIONS, HAVE BEEN ASSESSED FOLLOWING THE SAME "MORE LIKELY THAN NOT" MEASUREMENT THRESHOLD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt02835212
IRS990ScheduleD/TotalLiabilityAmt034475
IRS990ScheduleD/TotalRevenuePerForm990Amt03064802
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SEE PART II
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1SINCE THE SCHOOL IS A CHARTER SCHOOL, IT DOES NOT OFFER SCHOLARSHIPS AND/OR FINANCIAL ASSISTANCE TO ANY STUDENT.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2SCHEDULE E - LINE 6A - THE ORGANIZAITON RECEIVES FEDERAL, STATE AND LOCAL FUNDING FOR ITS CHARTER SCHOOL OPERATIONS. THE SCHOOL IS A CHARTER SCHOOL AND FOLLOWS THE SAME NONDISCRIMINATION POLICIES AS MIAMI-DADE COUNTY SCHOOL DISTRICT BOARD.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, LINE 6
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO PROVIDE STUDENTS WITH A COMPREHENSIVE INTERNATIONAL EDUCATION THROUGH THE USE OF TECHNOLOGY AND LANGUAGE ACQUISITION, SO THAT STUDENTS WILL BECOME LIFE-LONG INQUISITIVE LEARNERS AND UTILIZE THIS KNOWLEDGE ACROSS INTERNATIONAL BOUNDARIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRINCIPAL AND BOARD OF DIRECTORS REVIEW THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD MEMBERS ARE REQUIRED TO COMPLETE A STATE OF FLORIDA FORM 8B MEMORANDUM OF VOTING CONFLICT WHEN A CONFLICT OF INTEREST IS BROUGHT UP AT A BOARD MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS THE ANNUAL COMPENSATION OF OTHER COMPARABLE PRINCIPALS IN THE STATE OF FLORIDA AND IN MIAMI-DADE COUNTY, AS A BASIS FOR DETERMINEING COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILBLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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 19
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IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/USAddress/CityNm0MIAMI SPRINGS
IRS990/USAddress/StateAbbreviationCd0FL
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IRS990/WebsiteAddressTxt0WWW.AIECHARTERSCHOOL.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0VERA A HIRSH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRINCIPAL
ReturnHeader/BusinessOfficerGrp/PhoneNum03058833900
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-01-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MIAMI-DADE FOUNDATION FOR
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0EDUCATIONAL INNOVATION INC
ReturnHeader/Filer/BusinessNameControlTxt0MIAM
ReturnHeader/Filer/EIN0452690728
ReturnHeader/Filer/PhoneNum03058833900
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ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd033166
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SOTOLONGO & ASSOCIATES PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08380 SW EIGHT ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MIAMI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033144
ReturnHeader/PreparerPersonGrp/PhoneNum03057765778
ReturnHeader/PreparerPersonGrp/PreparationDt02017-02-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0EMIL SOTOLONGO CPA
ReturnHeader/ReturnTs02017-02-10T08:59:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-07-01
ReturnHeader/TaxPeriodEndDt02016-06-30
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,111,570
Liabilities
$248,479
Net assets
$863,091
Revenue
$3,064,802
Expenses
$2,835,212
Net income
$229,590
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$8.59$4.11$4.48$11.5$10.1$1.46
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.77$2.77$3.00$7.79$8.32$0.53
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.58$1.05$3.53$8.87$6.98$1.89
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.84$1.20$1.64$5.84$5.78$0.06
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.00$0.41$1.58$4.86$4.75$0.12
2018Summary only. Only limited summary data is available for this year.$1.91$0.44$1.47$4.32$3.96$0.36
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.69$0.58$1.11$3.66$3.42$0.25
2016Detailed filing. Detailed filing data is available for this year.$1.11$0.25$0.86$3.06$2.84$0.23
2015Detailed filing. Detailed filing data is available for this year.$0.84$0.21$0.63$2.71$2.57$0.14
2014Detailed filing. Detailed filing data is available for this year.$0.67$0.18$0.50$2.48$2.14$0.35
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.30$0.16$0.15$1.85
2012Summary only. Only limited summary data is available for this year.$0.07$0.06$0.01$0.83$0.82$0.01
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2016 filings • 501(c)3 • $1M-$5M nonprofits