Civic Intelligence

Circuit Events Local Organizing Committee

990 • Fiscal year 2015 • EIN 45-2727397

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 11, 2016

Organization ProfileN/A
100 Congress Avenue Suite 1300Austin, TX 78701

(512) 435-2306

Siviq Scores

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

Liabilities / Assets

96th percentile

1.00x

Higher debt load relative to assets than 96% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

47th percentile

0.16x

Higher debt load relative to revenue than 47% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Net Margin

33rd percentile

0.0%

Higher net margin than 33% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2015 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2015

Asset Growth

60th percentile

5.5%

Faster asset growth than 60% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

1st percentile

-93%

Faster revenue growth than 1% of similar nonprofits.

2015 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$628,175

Up $32,784 (+5.5%) from 2014

Net Assets

Flat

$1,050

Flat from 2014

Liabilities

Up

$627,125

Up $32,784 (+5.5%) from 2014

Revenue And Expenses
Liabilities / Revenue47th percentileNet Margin33rd percentile

Revenue

Down

$3,858,010

Down $54,908,015 (-93%) from 2014

Expenses

Down

$3,858,010

Down $54,907,935 (-93%) from 2014

Net Income

Down

$0

Down $80 (-100%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$6.0M$4.0M$2.0M$0Assets 2012: $941Liabilities 2012: $0Net Assets 2012: $9412012Assets 2013: $141,447Liabilities 2013: $140,477Net Assets 2013: $9702013Assets 2014: $595,391Liabilities 2014: $594,341Net Assets 2014: $1,0502014Assets 2015: $628,175Liabilities 2015: $627,125Net Assets 2015: $1,0502015Assets 2016: $345,826Liabilities 2016: $344,776Net Assets 2016: $1,0502016Assets 2017: $49,630Liabilities 2017: $48,580Net Assets 2017: $1,0502017Assets 2018: $870,656Liabilities 2018: $869,606Net Assets 2018: $1,0502018Assets 2019: $1,245,214Liabilities 2019: $1,244,144Net Assets 2019: $1,0702019Assets 2020: $929,845Liabilities 2020: $928,775Net Assets 2020: $1,0702020Assets 2021: $5,758,250Liabilities 2021: $5,757,180Net Assets 2021: $1,0702021Assets 2022: $2,475,880Liabilities 2022: $2,474,810Net Assets 2022: $1,0702022Assets 2023: $1,290,431Liabilities 2023: $1,289,360Net Assets 2023: $1,0712023Assets 2024: $1,597,765Liabilities 2024: $1,596,694Net Assets 2024: $1,0712024

Highlighted filing

2015

Assets$628,175
Liabilities$627,125
Net Assets$1,050
Open 2015 Filing

Operations Trend

Revenue Growth1st percentile

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

$80M$60M$40M$20M$0Revenue 2012: $29,338,369Expenses 2012: $29,337,428Net Income 2012: $9412012Revenue 2013: $3,112,465Expenses 2013: $3,112,436Net Income 2013: $292013Revenue 2014: $58,766,025Expenses 2014: $58,765,945Net Income 2014: $802014Revenue 2015: $3,858,010Expenses 2015: $3,858,010Net Income 2015: $02015Revenue 2016: $29,596,641Expenses 2016: $29,596,641Net Income 2016: $02016Revenue 2017: $32,813,836Expenses 2017: $32,813,836Net Income 2017: $02017Revenue 2018: $28,350,109Expenses 2018: $28,350,109Net Income 2018: $02018Revenue 2019: $6,657,940Expenses 2019: $6,657,940Net Income 2019: $02019Revenue 2020: $28,795,471Expenses 2020: $28,795,471Net Income 2020: $02020Revenue 2021: $14,482,431Expenses 2021: $14,482,431Net Income 2021: $02021Revenue 2022: $29,370,475Expenses 2022: $29,370,475Net Income 2022: $02022Revenue 2023: $62,855,633Expenses 2023: $62,855,632Net Income 2023: $12023Revenue 2024: $54,145,048Expenses 2024: $54,145,048Net Income 2024: $02024

Highlighted filing

2015

Revenue$3,858,010
Expenses$3,858,010
Net Income$0
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 11, 2016
Return Version
2015v2.1
Gross Receipts
$3,858,010
Mission and Program Overview

Mission

The purpose of circuit events local organizing committee is to host: (1) the formula 1 united states grand prix (2) the fim road racing world championship (3) the world endurance championship series and the imsa weathertech sportscar championship, (4) the austin summer x games, and (5) other events qualifying under the texas major events reimbursement program, and to foster and promote the public interest for the city of austin, travis county, and the state of texas.

The purpose of circuit events local organizing committee is to host: (1) the formula one united states grand prix (2) the fim road racing world championship (3) the world endurance championship series and the imsa weathertech sportscar championship, (4) the austin summer x games, and (5) other events qualifying under the texas major event trust fund act or texas event trust fund act, and to foster and promote the public interest for the city of austin, travis county, and the state of texas.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$594,321$627,105▲ $32,784
Cash and Non-Interest-Bearing Accounts$1,070$1,070→ $0
Rtn Earn Endowment Incm Other Fnds$1,050$1,050→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$595,391$628,175▲ $32,784
Liabilities
Accounts Payable and Accrued Expenses$594,341$627,125▲ $32,784
Total Liabilities$594,341$627,125▲ $32,784
Net Assets / Fund Balance
Total Net Assets Fund Balance$1,050$1,050→ $0
Total Liabilities and Net Assets / Fund Balance$595,391$628,175▲ $32,784
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Ford SmithDirector
Rodney GonzalezDirector
Sam BryantDirector
Wayne HollingsworthSecretary/director

Highest Paid Contractors

ContractorServicesLocationCompensation
Armbrust & Brown PllcLegal100 CONGRESS AVENUE SUITE 1300, Austin, TX 78701$202,375
Revenue and Support

Revenue Composition

Contributions and Grants
$3,858,010
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$210,662
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,647,348
Other Expenses$210,662
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$3,647,348
Fees for Services Legal---$202,375
Insurance---$4,562
Fees for Services Accounting---$3,725
Total Functional Expenses$0$0$0$3,858,010
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Circuit of the AmericasAustin, TX-A Source of Local Increment Required Under Texas Event Trust Fund for Qualification and Reimbursements for the 2015 Forumla 1 United States Grand Prix, 2015 Motogp Championship, Tudor United Sportscar Championship Racing, American Lemans Series, World Endurance Championship Racing and Austin Summer Xgames Extreme Sports Events.$3,647,348
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
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“The organization's governing body did not delegate authortiy, to act on its behalf, to an executive committee or similar committee.”

Form 990, Part VI, Section B, Line 11

“Form 990 reviewed in board of directors meeting.”

Form 990, Part VI, Section B, Line 12C

“The board of directors held discussions and were reminded at board meetings of the conflict of interest policy.”

Form 990, Part VI, Section C, Line 19

“The organization is subject to state of texas open records requests. The organization will provide copies of documents to the public pursuant to such requests.”

FORM 990, PART VI, SECTION B, LINE 11B:

“Wayne s. Hollingsworth (secretary/director) distributed a copy of the draft return to the directors for review.”

Filing and Contact Details

Filer

Filer Name
Circuit Events Local Organizing
EIN
45-2727397
Phone
5124352306
Address
100 CONGRESS AVENUE SUITE 1300, AUSTIN, TX 78701

Signing Officer

Name
Wayne S Hollingsworth
Title
Secretary/director
Phone
5124352306
Signed
2016-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Wayne S Hollingsworth
Formed
2011
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Durbin Bennett Tax Advisors
Address
100 CONGRESS AVENUE SUITE 1600, AUSTIN, TX 78701
Preparer
Stephanie S Todd
Phone
5124394800
Raw XML Appendix284 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.

Path#Value
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IRS990/ActivitiesConductedPrtshpInd00
IRS990/ActivityOrMissionDesc0THE PURPOSE OF CIRCUIT EVENTS LOCAL ORGANIZING COMMITTEE IS TO HOST: (1) THE FORMULA ONE UNITED STATES GRAND PRIX (2) THE FIM ROAD RACING WORLD CHAMPIONSHIP (3) THE WORLD ENDURANCE CHAMPIONSHIP SERIES AND THE IMSA WEATHERTECH SPORTSCAR CHAMPIONSHIP, (4) THE AUSTIN SUMMER X GAMES, AND (5) OTHER EVENTS QUALIFYING UNDER THE TEXAS MAJOR EVENT TRUST FUND ACT OR TEXAS EVENT TRUST FUND ACT, AND TO FOSTER AND PROMOTE THE PUBLIC INTEREST FOR THE CITY OF AUSTIN, TRAVIS COUNTY, AND THE STATE OF TEXAS.
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IRS990/Desc0THE ORGANIZATION'S PROGRAM SERVICE ACCOMPLISHMENTS INCLUDE: ASSISTING WITH THE APPLICATION, ORGANIZATION, ADMINISTRATION, MANAGEMENT, QUALIFICATION, PROMOTION, FACILITATION AND OPERATION RELATED TO HOSTING THE 2015 FORUMLA 1 UNITED STATES GRAND PRIX, 2015 MOTOGP CHAMPIONSHIP, AMER LE MANS SERIES RACING, AND THE AUSTIN SUMMER XGAMES EXTREME SPORTS EVENTS AND PROCESSING REIMBURSEMENT AND OBTAINING REIMBURSEMENTS FROM THE STATE OF TEXAS UNDER THE STATE'S MAJOR EVENT TRUST FUND ACT AND EVENT TRUST FUND ACT.
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IRS990/Form990PartVIISectionAGrp/PersonNm3RODNEY GONZALEZ
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY/DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
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IRS990/GamingActivitiesInd00
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IRS990/GrossReceiptsAmt03858010
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd00
IRS990/IndependentAuditFinclStmtInd00
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IRS990/MissionDesc0THE PURPOSE OF CIRCUIT EVENTS LOCAL ORGANIZING COMMITTEE IS TO HOST: (1) THE FORMULA ONE UNITED STATES GRAND PRIX (2) THE FIM ROAD RACING WORLD CHAMPIONSHIP (3) THE WORLD ENDURANCE CHAMPIONSHIP SERIES AND THE IMSA WEATHERTECH SPORTSCAR CHAMPIONSHIP, (4) THE AUSTIN SUMMER X GAMES, AND (5) OTHER EVENTS QUALIFYING UNDER THE TEXAS MAJOR EVENT TRUST FUND ACT OR TEXAS EVENT TRUST FUND ACT, AND TO FOSTER AND PROMOTE THE PUBLIC INTEREST FOR THE CITY OF AUSTIN, TRAVIS COUNTY, AND THE STATE OF TEXAS.
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IRS990/OfficerMailingAddressInd00
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IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt03647348
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0A SOURCE OF LOCAL INCREMENT REQUIRED UNDER TEXAS EVENT TRUST FUND FOR QUALIFICATION AND REIMBURSEMENTS FOR THE 2015 FORUMLA 1 UNITED STATES GRAND PRIX, 2015 MOTOGP CHAMPIONSHIP, TUDOR UNITED SPORTSCAR CHAMPIONSHIP RACING, AMERICAN LEMANS SERIES, WORLD ENDURANCE CHAMPIONSHIP RACING AND AUSTIN SUMMER XGAMES EXTREME SPORTS EVENTS.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CIRCUIT OF THE AMERICAS
IRS990ScheduleI/RecipientTable/RecipientEIN0274131657
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt09201 CIRCUIT OF THE AMERICAS BLVD
IRS990ScheduleI/RecipientTable/USAddress/CityNm0AUSTIN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0TX
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd078617
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0ALL EXPENDITURES ARE PAID AS REIMBURSEMENTS OF COSTS AND EXPENSES INCURRED BY CIRCUIT OF THE AMERICAS (COTA) THAT HAVE BEEN REVIEWED AND APPROVED BY THE TEXAS COMPTROLLER'S OFFICE AS QUALIFIED REIMBURSABLE EXPENSES UNDER THE TEXAS MAJOR EVENT TRUST FUND ACT (ARTICLE 5190.40 OF THE TEXAS CIVIL STATUTES).
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCH I, PART IV, INFORMATION ON GRANTS AND OTHER ASSISTANCE-ADDITIONAL INFO:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION'S GOVERNING BODY DID NOT DELEGATE AUTHORTIY, TO ACT ON ITS BEHALF, TO AN EXECUTIVE COMMITTEE OR SIMILAR COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 REVIEWED IN BOARD OF DIRECTORS MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS HELD DISCUSSIONS AND WERE REMINDED AT BOARD MEETINGS OF THE CONFLICT OF INTEREST POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION IS SUBJECT TO STATE OF TEXAS OPEN RECORDS REQUESTS. THE ORGANIZATION WILL PROVIDE COPIES OF DOCUMENTS TO THE PUBLIC PURSUANT TO SUCH REQUESTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WAYNE S. HOLLINGSWORTH (SECRETARY/DIRECTOR) DISTRIBUTED A COPY OF THE DRAFT RETURN TO THE DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 11B:
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01050
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt03647348
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03858010
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0595391
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0628175
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0100 CONGRESS AVENUE SUITE 1300
IRS990/USAddress/CityNm0AUSTIN
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd078701
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-12-15 16:53:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0WAYNE S HOLLINGSWORTH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum05124352306
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-08-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CIRCUIT EVENTS LOCAL ORGANIZING
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0COMMITTEE
ReturnHeader/Filer/BusinessNameControlTxt0CIRC
ReturnHeader/Filer/EIN0452727397
ReturnHeader/Filer/PhoneNum05124352306
ReturnHeader/Filer/USAddress/AddressLine1Txt0100 CONGRESS AVENUE SUITE 1300
ReturnHeader/Filer/USAddress/CityNm0AUSTIN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd078701
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0472401640
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DURBIN BENNETT TAX ADVISORS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 CONGRESS AVENUE SUITE 1600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0AUSTIN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd078701
ReturnHeader/PreparerPersonGrp/PhoneNum05124394800
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0STEPHANIE S TODD
ReturnHeader/ReturnTs02016-08-11T12:00:50-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$628,175
Liabilities
$627,125
Net assets
$1,050
Revenue
$3,858,010
Expenses
$3,858,010
Net income
$0
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.60$1.60$0.00$54.1$54.1$0.00
2023Summary only. Only limited summary data is available for this year.$1.29$1.29$0.00$62.9$62.9$0.00
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.48$2.47$0.00$29.4$29.4$0.00
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.76$5.76$0.00$14.5$14.5$0.00
2020Summary only. Only limited summary data is available for this year.$0.93$0.93$0.00$28.8$28.8$0.00
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.25$1.24$0.00$6.66$6.66$0.00
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.87$0.87$0.00$28.4$28.4$0.00
2017Summary only. Only limited summary data is available for this year.$0.05$0.05$0.00$32.8$32.8$0.00
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$0.34$0.00$29.6$29.6$0.00
2015Detailed filing. Detailed filing data is available for this year.$0.63$0.63$0.00$3.86$3.86$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.60$0.59$0.00$58.8$58.8$0.00
2013Summary only. Only limited summary data is available for this year.$0.14$0.14$0.00$3.11$3.11$0.00
2012Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$29.3$29.3$0.00