Civic Intelligence

Johnson Controls Union Retiree Medical Trust

990 • Fiscal year 2019 • EIN 45-6420054

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 06, 2020

5757 North Green Bay AvenueGlendale, WI 53209

(414) 524-1200

Siviq Scores

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

Liabilities / Assets

47th percentile

0.03x

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

2019 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2019

Liabilities / Revenue

96th percentile

0.76x

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

2019 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2019

Net Margin

1st percentile

-279%

Higher net margin than 1% of similar nonprofits.

2019 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2019

Top Officer Pay

32nd percentile

$0

Higher top officer pay than 32% of similar nonprofits.

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

2019 filings • 501(c)9 • $100M-$250M nonprofits • Source year 2019

Asset Growth

34th percentile

4.8%

Faster asset growth than 34% of similar nonprofits.

2019 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Revenue Growth

6th percentile

-25%

Faster revenue growth than 6% of similar nonprofits.

2019 filings • 501(c)9 • $100M-$250M nonprofits • Annualized from 2018 to 2019

Assets

Up

$167,230,260

Up $7,679,464 (+4.8%) from 2018

Net Assets

Up

$163,020,839

Up $4,693,860 (+3.0%) from 2018

Liabilities

Up

$4,209,421

Up $2,985,604 (+244%) from 2018

Revenue

Down

$5,548,142

Down $1,857,294 (-25%) from 2018

Expenses

Down

$21,008,059

Down $1,562,517 (-6.9%) from 2018

Net Income

Down

-$15,459,917

Down $294,777 (-1.9%) from 2018

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2012: $144,686,011Liabilities 2012: $644,308Net Assets 2012: $144,041,7032012Assets 2013: $145,421,319Liabilities 2013: $833,412Net Assets 2013: $144,587,9072013Assets 2014: $214,925,221Liabilities 2014: $1,555,651Net Assets 2014: $213,369,5702014Assets 2015: $190,682,820Liabilities 2015: $2,233,972Net Assets 2015: $188,448,8482015Assets 2016: $176,864,801Liabilities 2016: $1,538,551Net Assets 2016: $175,326,2502016Assets 2017: $184,653,681Liabilities 2017: $2,344,395Net Assets 2017: $182,309,2862017Assets 2018: $159,550,796Liabilities 2018: $1,223,817Net Assets 2018: $158,326,9792018Assets 2019: $167,230,260Liabilities 2019: $4,209,421Net Assets 2019: $163,020,8392019Assets 2020: $165,245,895Liabilities 2020: $2,348,871Net Assets 2020: $162,897,0242020Assets 2021: $174,046,177Liabilities 2021: $3,297,872Net Assets 2021: $170,748,3052021Assets 2022: $141,359,465Liabilities 2022: $4,526,742Net Assets 2022: $136,832,7232022Assets 2023: $149,786,768Liabilities 2023: $1,046,438Net Assets 2023: $148,740,3302023Assets 2024: $160,855,134Liabilities 2024: $1,239,387Net Assets 2024: $159,615,7472024

Highlighted filing

2019

Assets$167,230,260
Liabilities$4,209,421
Net Assets$163,020,839

Operations Trend

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

$100M$50M$0-$50MRevenue 2012: $16,165,566Expenses 2012: $12,202,243Net Income 2012: $3,963,3232012Revenue 2013: $11,141,800Expenses 2013: $10,595,596Net Income 2013: $546,2042013Revenue 2014: $81,219,386Expenses 2014: $12,437,723Net Income 2014: $68,781,6632014Revenue 2015: -$1,479,899Expenses 2015: $23,440,840Net Income 2015: -$24,920,7392015Revenue 2016: $7,762,986Expenses 2016: $20,885,584Net Income 2016: -$13,122,5982016Revenue 2017: $4,884,282Expenses 2017: $19,689,850Net Income 2017: -$14,805,5682017Revenue 2018: $7,405,436Expenses 2018: $22,570,576Net Income 2018: -$15,165,1402018Revenue 2019: $5,548,142Expenses 2019: $21,008,059Net Income 2019: -$15,459,9172019Revenue 2020: $3,908,121Expenses 2020: $16,924,520Net Income 2020: -$13,016,3992020Revenue 2021: $3,298,684Expenses 2021: $12,808,861Net Income 2021: -$9,510,1772021Revenue 2022: $2,775,803Expenses 2022: $13,912,569Net Income 2022: -$11,136,7662022Revenue 2023: $2,559,418Expenses 2023: $12,579,200Net Income 2023: -$10,019,7822023Revenue 2024: $2,025,962Expenses 2024: $9,551,095Net Income 2024: -$7,525,1332024

Highlighted filing

2019

Revenue$5,548,142
Expenses$21,008,059
Net Income-$15,459,917
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 6, 2020
Return Version
2019v5.1
Gross Receipts
$5,548,142
Mission and Program Overview

Mission

To provide medical benefits under designated benefits program to eligible union retirees of Johnson Controls International Plc. and certain affiliated companies.

To provide medical, health & life insurance benefits under designated benefits programs to eligible union & non-union retired employees of johnson controls, inc. And certain affiliated companies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$155,143,018$166,158,819▲ $11,015,801
Cap Stk Tr Prin Current Funds$158,326,979$163,020,839▲ $4,693,860
Cash and Non-Interest-Bearing Accounts$3,820,000$0▼ $3,820,000
Accounts Receivable$458,785$1,071,441▲ $612,656
Prepaid Expenses and Deferred Charges$128,993$0▼ $128,993
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$0$0→ $0
Total Assets$159,550,796$167,230,260▲ $7,679,464
Liabilities
Other Liabilities$999,341$3,098,542▲ $2,099,201
Accounts Payable and Accrued Expenses$224,476$1,110,879▲ $886,403
Total Liabilities$1,223,817$4,209,421▲ $2,985,604
Net Assets / Fund Balance
Total Net Assets Fund Balance$158,326,979$163,020,839▲ $4,693,860
Total Liabilities and Net Assets / Fund Balance$159,550,796$167,230,260▲ $7,679,464
Compensation and Service Providers

Board Members and Trustees

NameTitle
-Trustee
Brian StiefTrustee
JOHN D'ONOFRIOTrustee
Lynn MinellaTrustee
Marc VandiepenbeeckTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$5,446,197
Investment Income
$101,945
Other Revenue
$0
Change in Net Assets
$-15,459,917

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,548,142
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$24,103,777
Total Revenue per Audited Statements
$29,651,919
Total Revenue per Form 990
$5,548,142
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,304,034
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Benefits to Members---$19,704,025
Other Expenses---$1,304,034
Total Functional Expenses$0$0$0$21,008,059

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$21,008,059
Total Expenses per Audited Statements$21,008,059
Total Expenses per Form 990$21,008,059
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Benefits Payments$3,098,542
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
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 7A

The trustee of the organization is designated by the employee benefits policy committee.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by the lead analyst, external reporting who reports to the trustees of the trust. The form 990 is also reviewed by the director global tax accounting, who ensures all tax filings of the organization, before it is filed.

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

The ethics policy of the sponsor requires individuals to make immediate disclosure to the audit committee on issues relating to conflicts of interest. Employees must avoid any relationship or activity that could affect their independent judgement in the conduct of johnson controls' interests. In assessing whether a situation poses a conflict of interest, employees should examine whether their interest or activity could influence, or could give the appearance of influencing, their decisions on behalf of the company. All employees must provide written notice to the company of an actual or potential conflict of interest.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy and financial statements are made available to the public upon request and on the sponsors' website www.johnsoncontrols.com.

Filing and Contact Details

Filer

Filer Name
Johnson Controls Inc Retiree Welfare
EIN
45-6420054
Phone
4145241200
Address
5757 NORTH GREEN BAY AVENUE, GLENDALE, WI 53209

Signing Officer

Name
Patty Bakke
Title
Director Global Tax Accounting
Phone
4145241200
Signed
2020-11-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Patty Bakke
Formed
2011
Legal Domicile
Wi
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Wipfli Llp
Address
10000 INNOVATION DRIVE SUITE 250, MILWAUKEE, WI 53226-4837
Preparer
Chloe Chiuminatto
Phone
4144319300
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Transfers out -3,950,000.

Financial Statement Notes

PART X, LINE 2:

U.s. Gaap requires plan management to evaluate tax positions taken by the plan and recognize a tax liability if the organization has taken an uncertain position that more likely than not would be sustained upon examination by the irs or department of labor. The plan administrator has analyzed the tax positions taken by the plan, and has concluded that as of december 31, 2019 and 2018, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. The plan is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

Raw XML Appendix328 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/SupplementalInformationDetail/ExplanationTxt0U.S. GAAP REQUIRES PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD BE SUSTAINED UPON EXAMINATION BY THE IRS OR DEPARTMENT OF LABOR. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS TAKEN BY THE PLAN, AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2019 AND 2018, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PLAN IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE TRUSTEE OF THE ORGANIZATION IS DESIGNATED BY THE EMPLOYEE BENEFITS POLICY COMMITTEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS REVIEWED BY THE LEAD ANALYST, EXTERNAL REPORTING WHO REPORTS TO THE TRUSTEES OF THE TRUST. THE FORM 990 IS ALSO REVIEWED BY THE DIRECTOR GLOBAL TAX ACCOUNTING, WHO ENSURES ALL TAX FILINGS OF THE ORGANIZATION, BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ETHICS POLICY OF THE SPONSOR REQUIRES INDIVIDUALS TO MAKE IMMEDIATE DISCLOSURE TO THE AUDIT COMMITTEE ON ISSUES RELATING TO CONFLICTS OF INTEREST. EMPLOYEES MUST AVOID ANY RELATIONSHIP OR ACTIVITY THAT COULD AFFECT THEIR INDEPENDENT JUDGEMENT IN THE CONDUCT OF JOHNSON CONTROLS' INTERESTS. IN ASSESSING WHETHER A SITUATION POSES A CONFLICT OF INTEREST, EMPLOYEES SHOULD EXAMINE WHETHER THEIR INTEREST OR ACTIVITY COULD INFLUENCE, OR COULD GIVE THE APPEARANCE OF INFLUENCING, THEIR DECISIONS ON BEHALF OF THE COMPANY. ALL EMPLOYEES MUST PROVIDE WRITTEN NOTICE TO THE COMPANY OF AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ON THE SPONSORS' WEBSITE WWW.JOHNSONCONTROLS.COM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TRANSFERS OUT -3,950,000.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
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 XI, LINE 9:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0390380010
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0WI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0MANUFACTURING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0JOHNSON CONTROLS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt05757 NORTH GREEN BAY AVENUE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0GLENDALE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0WI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd053209
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0159550796
IRS990/TotalAssetsEOYAmt0167230260
IRS990/TotalAssetsGrp/BOYAmt0159550796
IRS990/TotalAssetsGrp/EOYAmt0167230260
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt021008059
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01223817
IRS990/TotalLiabilitiesEOYAmt04209421
IRS990/TotalLiabilitiesGrp/BOYAmt01223817
IRS990/TotalLiabilitiesGrp/EOYAmt04209421
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0158326979
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0163020839
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt05446197
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05548142
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05548142
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0159550796
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0167230260
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationTrustInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05757 NORTH GREEN BAY AVENUE
IRS990/USAddress/CityNm0GLENDALE
IRS990/USAddress/StateAbbreviationCd0WI
IRS990/USAddress/ZIPCd053209
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PATTY BAKKE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR GLOBAL TAX ACCOUNTING
ReturnHeader/BusinessOfficerGrp/PhoneNum04145241200
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-06
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0JOHNSON CONTROLS INC RETIREE WELFARE
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0TRUST
ReturnHeader/Filer/BusinessNameControlTxt0JOHN
ReturnHeader/Filer/EIN0456420054
ReturnHeader/Filer/PhoneNum04145241200
ReturnHeader/Filer/USAddress/AddressLine1Txt05757 NORTH GREEN BAY AVENUE
ReturnHeader/Filer/USAddress/CityNm0GLENDALE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WI
ReturnHeader/Filer/USAddress/ZIPCd053209
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0CC322FB1B7FC8ED290785ACCB7D2994D8745AEAD
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0184.59.22.73
ReturnHeader/FilingSecurityInformation/IPDt02020-11-06
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm011:34:05
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0390758449
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WIPFLI LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010000 INNOVATION DRIVE SUITE 250
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MILWAUKEE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0532264837
ReturnHeader/PreparerPersonGrp/PhoneNum04144319300
ReturnHeader/PreparerPersonGrp/PreparationDt02020-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHLOE CHIUMINATTO
ReturnHeader/ReturnTs02020-11-10T08:33:23-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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