Civic Intelligence

Sussex Academy Foundation Inc

EIN 45-3820950 • 501(c)3 • Lewes, DE

Profile

The sussex academy foundation is dedicated to the advancement of sussex academy. The foundation is focused on raising the funds to make major capital improvements to the facility, as has expanded to serve both middle and high school students, grades 6-12.

PO Box 213Lewes, DE 19958

www.sussexacademyfoundation.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

72nd percentile

0.48x

Higher debt load relative to assets than 72% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

98th percentile

17.78x

Higher debt load relative to revenue than 98% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Net Margin

3rd percentile

-84%

Higher net margin than 3% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

9th percentile

$0

Higher top officer pay than 9% of similar nonprofits.

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

501(c)3 • $25M-$50M nonprofits • Source year 2024

Asset Growth

19th percentile

-3.1%

Faster asset growth than 19% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

7th percentile

-35%

Faster revenue growth than 7% of similar nonprofits.

501(c)3 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets72nd percentile

Assets

Down

$25,597,560

Down $823,826 (-3.1%) from 2023

Liabilities

Down

$12,162,109

Down $247,976 (-2.0%) from 2023

Net Assets

Down

$13,435,451

Down $575,850 (-4.1%) from 2023

Operations
Liabilities / Revenue98th percentileNet Margin3rd percentile

Revenue

Down

$684,169

Down $374,578 (-35%) from 2023

Expenses

Down

$1,260,019

Down $928,627 (-42%) from 2023

Net Income

Up

-$575,850

Up $554,049 (+49%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth19th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$40M$30M$20M$10M$0Assets 2011: $1Liabilities 2011: $02011Assets 2013: $13,278,434Liabilities 2013: $9,650,000Net Assets 2013: $3,628,4342013Assets 2014: $13,325,335Liabilities 2014: $7,950,000Net Assets 2014: $5,375,3352014Assets 2015: $18,795,565Liabilities 2015: $11,634,584Net Assets 2015: $7,160,9812015Assets 2016: $30,428,833Liabilities 2016: $17,184,418Net Assets 2016: $13,244,4152016Assets 2017: $31,210,680Liabilities 2017: $17,098,849Net Assets 2017: $14,111,8312017Assets 2018: $28,461,139Liabilities 2018: $13,434,444Net Assets 2018: $15,026,6952018Assets 2019: $27,961,871Liabilities 2019: $13,361,082Net Assets 2019: $14,600,7892019Assets 2020: $27,187,721Liabilities 2020: $13,107,815Net Assets 2020: $14,079,9062020Assets 2021: $26,394,751Liabilities 2021: $12,881,714Net Assets 2021: $13,513,0372021Assets 2022: $27,790,589Liabilities 2022: $12,649,389Net Assets 2022: $15,141,2002022Assets 2023: $26,421,386Liabilities 2023: $12,410,085Net Assets 2023: $14,011,3012023Assets 2024: $25,597,560Liabilities 2024: $12,162,109Net Assets 2024: $13,435,4512024

Highlighted filing

2024

Assets$25,597,560
Liabilities$12,162,109
Net Assets$13,435,451
Open 2024 Filing

Operations Trend

Revenue Growth7th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2011: $0Expenses 2011: $0Net Income 2011: $02011Revenue 2013: $2,097,404Expenses 2013: $971,028Net Income 2013: $1,126,3762013Revenue 2014: $2,760,224Expenses 2014: $1,013,323Net Income 2014: $1,746,9012014Revenue 2015: $4,547,465Expenses 2015: $2,761,819Net Income 2015: $1,785,6462015Revenue 2016: $7,898,899Expenses 2016: $1,800,465Net Income 2016: $6,098,4342016Revenue 2017: $2,292,840Expenses 2017: $1,421,224Net Income 2017: $871,6162017Revenue 2018: $2,444,174Expenses 2018: $1,529,310Net Income 2018: $914,8642018Revenue 2019: $998,659Expenses 2019: $1,424,565Net Income 2019: -$425,9062019Revenue 2020: $900,086Expenses 2020: $1,420,969Net Income 2020: -$520,8832020Revenue 2021: $768,747Expenses 2021: $1,335,616Net Income 2021: -$566,8692021Revenue 2022: $2,988,908Expenses 2022: $1,360,745Net Income 2022: $1,628,1632022Revenue 2023: $1,058,747Expenses 2023: $2,188,646Net Income 2023: -$1,129,8992023Revenue 2024: $684,169Expenses 2024: $1,260,019Net Income 2024: -$575,8502024

Highlighted filing

2024

Revenue$684,169
Expenses$1,260,019
Net Income-$575,850
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$25,597,560
Liabilities
$12,162,109
Net assets
$13,435,451
Revenue
$684,169
Expenses
$1,260,019
Net income
-$575,850
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$25.6$12.2$13.4$0.68$1.26$0.58
2023Detailed filing. Detailed filing data is available for this year.$26.4$12.4$14.0$1.06$2.19$1.13
2022Detailed filing. Detailed filing data is available for this year.$27.8$12.6$15.1$2.99$1.36$1.63
2021Detailed filing. Detailed filing data is available for this year.$26.4$12.9$13.5$0.77$1.34$0.57
2020Detailed filing. Detailed filing data is available for this year.$27.2$13.1$14.1$0.90$1.42$0.52
2019Detailed filing. Detailed filing data is available for this year.$28.0$13.4$14.6$1.00$1.42$0.43
2018Detailed filing. Detailed filing data is available for this year.$28.5$13.4$15.0$2.44$1.53$0.91
2017Detailed filing. Detailed filing data is available for this year.$31.2$17.1$14.1$2.29$1.42$0.87
2016Detailed filing. Detailed filing data is available for this year.$30.4$17.2$13.2$7.90$1.80$6.10
2015Detailed filing. Detailed filing data is available for this year.$18.8$11.6$7.16$4.55$2.76$1.79
2014Detailed filing. Detailed filing data is available for this year.$13.3$7.95$5.38$2.76$1.01$1.75
2013Detailed filing. Detailed filing data is available for this year.$13.3$9.65$3.63$2.10$0.97$1.13
2011Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 13, 2025
Return Version
2024v5.0
Gross Receipts
$684,169
Mission and Program Overview

Mission

The sussex academy foundation is dedicated to the advancement of sussex academy. The foundation is focused on raising the funds to make major capital improvements to the facility, as has expanded to serve both middle and high school students, grades 6-12.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$24,916,180$24,057,515▼ $858,665
Cash and Non-Interest-Bearing Accounts$1,505,206$1,540,045▲ $34,839
Total Assets$26,421,386$25,597,560▼ $823,826
Liabilities
Mortgage Notes Payable Secured by Investment Property$12,410,085$12,162,109▼ $247,976
Total Liabilities$12,410,085$12,162,109▼ $247,976
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,011,301$13,435,451▼ $575,850
Total Net Assets Fund Balance$14,011,301$13,435,451▼ $575,850
Total Liabilities and Net Assets / Fund Balance$26,421,386$25,597,560▼ $823,826

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$21,880,945$12,561,668$34,442,613
Land$2,176,570-$2,176,570
Equipment-$522,957$522,957
Compensation and Service Providers
Top Officer Pay9th percentile

Board Members and Trustees

NameTitle
Joseph M SchellChairman
Ashlee ParkerMember
Jay DiazMember
Jennifer ScottMember
Michael J RawlMember
Michele MundokMember
Steve MontgomeryMember
William ScottMember
Stacy ShortSecretary
Jill BurtonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$28,489
Program Service Revenue
$0
Investment Income
$308
Other Revenue
$655,372
All Other Contributions
$28,489
Change in Net Assets
$-575,850

Audited Revenue Reconciliation

Revenue per Audited Statements
$658,169
Revenue Not Reported on Financial Statements
$26,000
Other Revenue Adjustments
$26,000
Total Revenue per Audited Statements
$658,169
Total Revenue per Form 990
$684,169
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,245,915
Professional Fundraising Fees$9,584
Total Fundraising Expense$9,584
Grants and Similar Amounts Paid$4,520
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$867,298--$867,298
Interest$361,700--$361,700
Fees for Services Accounting-$14,600-$14,600
Fees for Services Professional Fundraising--$9,584$9,584
Grants to Domestic Orgs$4,520--$4,520
Fees for Services Other-$270-$270
Other Expenses-$25-$25
Total Functional Expenses$1,233,518$16,917$9,584$1,260,019

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,398,833
Total Expenses per Form 990$1,260,019
Expenses per Audited Statements$1,257,630
Expenses Not Reported on Form 990$141,203
Expenses Not Reported on Financial Statements$2,389
Other Expense Adjustments$2,389
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$9,584
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
Audit committee
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

Form 990, Page 6, Part VI, Line 2

“William scott jennifer scott member member husband/ wife”

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

“The organization's chair of the board receives a copy of the form 990 prior to filing, shares with the board and reviews for accuracy.”

Form 990, Page 6, Part VI, Line 19

“Documents made available upon request.”

Filing and Contact Details

Filer

Filer Name
Sussex Academy Foundation Inc
EIN
45-3820950
Phone
3022367305
Address
PO BOX 213, LEWES, DE 19958

Signing Officer

Name
Joseph M Schell
Title
Chairman
Phone
3022367305
Signed
2025-10-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joseph M Schell
Formed
2011
Legal Domicile
De
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Faw Casson & Co Llp
Address
160 GREENTREE DRIVE SUITE 203, DOVER, DE 19904
Preparer
Alison Houck
Phone
3026744305
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“The sussex academy foundation is dedicated to the advancement of sussex academy. The foundation is focused on raising the funds to make major capital improvements to the facility, as has expanded to serve both middle and high school students, grades 6-12.”

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 4B

“Accrual to cash adjustment 26,000”

Schedule D, Page 4, Part XII, Line 2D

“Book / tax depreciation difference 141,203”

Schedule D, Page 4, Part XII, Line 4B

“Accrual to cash adjustment 2,389”

Raw XML Appendix378 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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IRS990/PrincipalOfficerNm0JOSEPH M SCHELL
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IRS990/PYGrantsAndSimilarPaidAmt02619
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IRS990/PYOtherExpensesAmt02183705
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IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0165716
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0185185
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03115454
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0326
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt0201
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt024
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0447
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt01306
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03227032
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IRS990ScheduleA/PublicSupportPY170Pct00.99960
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0165716
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0185185
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03115454
IRS990ScheduleA/TotalSupportAmt03116760
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
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IRS990ScheduleD/BuildingsGrp/BookValueAmt021880945
IRS990ScheduleD/BuildingsGrp/DepreciationAmt012561668
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt034442613
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0522957
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0522957
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt02389
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt026000
IRS990ScheduleD/RevenueSubtotalAmt0658169
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCRUAL TO CASH ADJUSTMENT 26,000
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1BOOK / TAX DEPRECIATION DIFFERENCE 141,203
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2ACCRUAL TO CASH ADJUSTMENT 2,389
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 4B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 4B
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IRS990ScheduleD/TotalExpensesPerForm990Amt01260019
IRS990ScheduleD/TotalRevenuePerForm990Amt0684169
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01398833
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SUSSEX ACADEMY FOUNDATION IS DEDICATED TO THE ADVANCEMENT OF SUSSEX ACADEMY. THE FOUNDATION IS FOCUSED ON RAISING THE FUNDS TO MAKE MAJOR CAPITAL IMPROVEMENTS TO THE FACILITY, AS HAS EXPANDED TO SERVE BOTH MIDDLE AND HIGH SCHOOL STUDENTS, GRADES 6-12.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1WILLIAM SCOTT JENNIFER SCOTT MEMBER MEMBER HUSBAND/ WIFE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S CHAIR OF THE BOARD RECEIVES A COPY OF THE FORM 990 PRIOR TO FILING, SHARES WITH THE BOARD AND REVIEWS FOR ACCURACY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TaxablePartyNotificationInd0false
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IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/EOYAmt025597560
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IRS990/TotalContributionsAmt028489
IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016917
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01233518
IRS990/TotalFunctionalExpensesGrp/TotalAmt01260019
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt012410085
IRS990/TotalLiabilitiesEOYAmt012162109
IRS990/TotalLiabilitiesGrp/BOYAmt012410085
IRS990/TotalLiabilitiesGrp/EOYAmt012162109
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt014011301
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt013435451
IRS990/TotalProgramServiceExpensesAmt01233518
IRS990/TotalRevenueGrp/ExclusionAmt0308
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0684169
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt026421386
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01604 BAY AVE
IRS990/USAddress/CityNm0LEWES
IRS990/USAddress/StateAbbreviationCd0DE
IRS990/USAddress/ZIPCd019958
IRS990/VotingMembersGoverningBodyCnt010
IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.SUSSEXACADEMYFOUNDATION.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSEPH M SCHELL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum03022367305
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUSSEX ACADEMY FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0SUSS
ReturnHeader/Filer/EIN0453820950
ReturnHeader/Filer/PhoneNum03022367305
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 213
ReturnHeader/Filer/USAddress/CityNm0LEWES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DE
ReturnHeader/Filer/USAddress/ZIPCd019958
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0520619968
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0FAW CASSON & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0160 GREENTREE DRIVE SUITE 203
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DOVER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd019904
ReturnHeader/PreparerPersonGrp/PhoneNum03026744305
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-13
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ALISON HOUCK
ReturnHeader/ReturnTs02025-10-14T12:04:48-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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