Civic Intelligence

South Dakota Development Corporation

990 • Fiscal year 2021 • EIN 46-0404566

Jan 01, 2021 to Dec 31, 2021 • Filed on Oct 27, 2022

Organization ProfileN/A
196 East 6th Street Suite 200Sioux Falls, SD 57104

(605) 275-1504

Siviq Scores

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

Liabilities / Assets

98th percentile

1.46x

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

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

87th percentile

0.38x

Higher debt load relative to revenue than 87% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

6th percentile

-83%

Higher net margin than 6% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

96th percentile

$102,300

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 37.3% of source-year revenue.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

3rd percentile

-65%

Faster asset growth than 3% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

75th percentile

34%

Faster revenue growth than 75% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$70,437

Down $131,173 (-65%) from 2020

Net Assets

Down

-$32,712

Down $226,489 (-117%) from 2020

Liabilities

Up

$103,149

Up $95,316 (+1217%) from 2020

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin6th percentile

Revenue

Up

$274,179

Up $69,739 (+34%) from 2020

Expenses

Up

$500,668

Up $90,746 (+22%) from 2020

Net Income

Down

-$226,489

Down $21,007 (-10%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth3rd percentile

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

$20M$15M$10M$5.0M$0-$5.0MAssets 2011: $16,345,917Liabilities 2011: $0Net Assets 2011: $16,345,9172011Assets 2012: $16,564,651Liabilities 2012: $0Net Assets 2012: $16,564,6512012Assets 2013: $16,695,828Liabilities 2013: $0Net Assets 2013: $16,695,8282013Assets 2014: $14,918,384Liabilities 2014: $0Net Assets 2014: $14,918,3842014Assets 2015: $14,991,064Liabilities 2015: $0Net Assets 2015: $14,991,0642015Assets 2016: $13,451,285Liabilities 2016: $0Net Assets 2016: $13,451,2852016Assets 2017: $13,885,370Liabilities 2017: $0Net Assets 2017: $13,885,3702017Assets 2018: $613,464Liabilities 2018: $3,660Net Assets 2018: $609,8042018Assets 2019: $421,912Liabilities 2019: $22,653Net Assets 2019: $399,2592019Assets 2020: $201,610Liabilities 2020: $7,833Net Assets 2020: $193,7772020Assets 2021: $70,437Liabilities 2021: $103,149Net Assets 2021: -$32,7122021Assets 2022: $115,137Liabilities 2022: $275,130Net Assets 2022: -$159,9932022Assets 2023: $182,348Liabilities 2023: $252,620Net Assets 2023: -$70,2722023Assets 2024: $213,301Liabilities 2024: $383,773Net Assets 2024: -$170,4722024

Highlighted filing

2021

Assets$70,437
Liabilities$103,149
Net Assets-$32,712
Open 2021 Filing

Operations Trend

Revenue Growth75th percentile

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

$20M$10M$0-$10M-$20MExpenses 2011: $687,2532011Expenses 2012: $2,597,6772012Revenue 2013: $2,446,960Expenses 2013: $442,335Net Income 2013: $2,004,6252013Revenue 2014: $435,631Expenses 2014: $213,075Net Income 2014: $222,5562014Revenue 2015: $276,827Expenses 2015: $204,147Net Income 2015: $72,6802015Revenue 2016: $1,611,705Expenses 2016: $3,151,484Net Income 2016: -$1,539,7792016Revenue 2017: $380,588Expenses 2017: $148,846Net Income 2017: $231,7422017Revenue 2018: $141,740Expenses 2018: $13,417,306Net Income 2018: -$13,275,5662018Revenue 2019: $105,262Expenses 2019: $315,807Net Income 2019: -$210,5452019Revenue 2020: $204,440Expenses 2020: $409,922Net Income 2020: -$205,4822020Revenue 2021: $274,179Expenses 2021: $500,668Net Income 2021: -$226,4892021Revenue 2022: $433,578Expenses 2022: $560,859Net Income 2022: -$127,2812022Revenue 2023: $640,183Expenses 2023: $550,462Net Income 2023: $89,7212023Revenue 2024: $505,928Expenses 2024: $606,128Net Income 2024: -$100,2002024

Highlighted filing

2021

Revenue$274,179
Expenses$500,668
Net Income-$226,489
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Oct 27, 2022
Return Version
2021v4.0
Gross Receipts
$274,179
Mission and Program Overview

Mission

Economic development loans to help businesses start up and expand in south dakota.

The principle objective of the corporaiton shall be to benefit the state of south dakota by fostering increased employment opportunities and expansion of business and industry for the citizens of this state.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$166,977$44,399▼ $122,578
Land, Buildings, and Equipment, Net$27,004$15,843▼ $11,161
Prepaid Expenses and Deferred Charges$7,629$10,195▲ $2,566
Total Assets$201,610$70,437▼ $131,173
Liabilities
Other Liabilities-$100,000-
Accounts Payable and Accrued Expenses$7,833$3,149▼ $4,684
Total Liabilities$7,833$103,149▲ $95,316
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$193,777$-32,712▼ $226,489
Total Net Assets Fund Balance$193,777$-32,712▼ $226,489
Total Liabilities and Net Assets / Fund Balance$201,610$70,437▼ $131,173

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$12,176$27,353$39,529
Other Land Buildings$3,667$7,333$11,000
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jennifer ObergExecutive DiFT$102,300$102,300

Board Members and Trustees

NameTitle
Russel OlsonChairman
David MunsonVice Chairma
Brent HeinertDirector
Dan KolbergDirector
Fred RomkemaDirector
Glen SchmeltzerDirector
Julie JohnsonDirector
Luke TibbetsDirector
Michelle MaloneyDirector
Nate EngbersDirector
Terry SabersDirector
John SchrammJohn Schramm
Randy SnydersSecretary
Brooke RollagTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$273,772
Investment Income
$407
Other Revenue
$0
Change in Net Assets
$-226,489
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$318,530
Other Expenses$182,138
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$159,634$24,897-$184,531
Current Officers, Directors, Trustees, and Key Employees$61,380$40,920-$102,300
Advertising$51,633--$51,633
Fees for Services Legal-$31,929-$31,929
Occupancy-$23,015-$23,015
Payroll Taxes$15,498$4,659-$20,157
Insurance$13,619--$13,619
Fees for Services Accounting-$13,404-$13,404
Other Employee Benefits$8,894$2,648-$11,542
Depreciation Depletion$8,868$2,293-$11,161
Office Expenses-$9,256-$9,256
Travel-$3,041-$3,041
Other Expenses$8,360$1,174-$1,174
Total Functional Expenses$327,886$172,782$0$500,668
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
Loc$100,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
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, Page 6, Part VI, Line 8B

“The organization does not have committees that have the board authority to act on its behalf.”

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

“A copy of form 990 is provided to the board for review and approval prior to filing.”

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

“Directors, employees and consultants of the organization are required to act ethically and exhibit good character. Conflicts are determined based on each transaction discussed by the board. For example, a board member is asked to disclose any potential conflicts on each loan or investment that is presented to the board. Conflicts are reviewed at the board level. After a conflict is deemed to exist, the individual(s) involved must abstain from the discussion and any action related to the issue. The directors are required to sign a statement annually disclosng conflicts as part of the annual report.”

Form 990, Page 6, Part VI, Line 19

“The governing documents, conflict of interest policy, and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
South Dakota Development
EIN
46-0404566
Phone
6052751504
Address
196 EAST 6TH STREET SUITE 200, SIOUX FALLS, SD 57104

Signing Officer

Name
Jennifer Oberg
Title
Executive Director
Phone
6052751504
Signed
2022-10-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Oberg
Formed
1983
Legal Domicile
Sd
Voting Board Members
14
Independent Board Members
14
Employees
5

Preparer

Firm
Elo Prof LLC
Address
6300 SOUTH OLD VILLAGE PLACE SUITE, SIOUX FALLS, SD 57108
Preparer
Matthew J Mueller CPA
Phone
6052711302
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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/OtherSalariesAndWagesGrp/TotalAmt0184531
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt04659
IRS990/PayrollTaxesGrp/ProgramServicesAmt015498
IRS990/PayrollTaxesGrp/TotalAmt020157
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07629
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt010195
IRS990/PrincipalOfficerNm0JENNIFER OBERG
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IRS990/ProgramServiceRevenueGrp/Desc1OTHER INCOME
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0269776
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt13996
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0269776
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt13996
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IRS990/PYInvestmentIncomeAmt02650
IRS990/PYOtherExpensesAmt0164779
IRS990/PYProgramServiceRevenueAmt0201790
IRS990/PYRevenuesLessExpensesAmt0-205482
IRS990/PYSalariesCompEmpBnftPaidAmt0245143
IRS990/PYTotalExpensesAmt0409922
IRS990/PYTotalRevenueAmt0204440
IRS990/ReconcilationRevenueExpnssAmt0-226489
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IRS990/RelatedEntityInd0false
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IRS990/ReportLandBuildingEquipmentInd0true
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IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0166977
IRS990/SavingsAndTempCashInvstGrp/EOYAmt044399
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt012176
IRS990ScheduleD/EquipmentGrp/DepreciationAmt027353
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt039529
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt03667
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt07333
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt011000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0100000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LOC
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015843
IRS990ScheduleD/TotalLiabilityAmt0100000
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DOES NOT HAVE COMMITTEES THAT HAVE THE BOARD AUTHORITY TO ACT ON ITS BEHALF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DIRECTORS, EMPLOYEES AND CONSULTANTS OF THE ORGANIZATION ARE REQUIRED TO ACT ETHICALLY AND EXHIBIT GOOD CHARACTER. CONFLICTS ARE DETERMINED BASED ON EACH TRANSACTION DISCUSSED BY THE BOARD. FOR EXAMPLE, A BOARD MEMBER IS ASKED TO DISCLOSE ANY POTENTIAL CONFLICTS ON EACH LOAN OR INVESTMENT THAT IS PRESENTED TO THE BOARD. CONFLICTS ARE REVIEWED AT THE BOARD LEVEL. AFTER A CONFLICT IS DEEMED TO EXIST, THE INDIVIDUAL(S) INVOLVED MUST ABSTAIN FROM THE DISCUSSION AND ANY ACTION RELATED TO THE ISSUE. THE DIRECTORS ARE REQUIRED TO SIGN A STATEMENT ANNUALLY DISCLOSNG CONFLICTS AS PART OF THE ANNUAL REPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 8B
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 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0201610
IRS990/TotalAssetsEOYAmt070437
IRS990/TotalAssetsGrp/BOYAmt0201610
IRS990/TotalAssetsGrp/EOYAmt070437
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0172782
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0327886
IRS990/TotalFunctionalExpensesGrp/TotalAmt0500668
IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesEOYAmt0103149
IRS990/TotalLiabilitiesGrp/BOYAmt07833
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IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0193777
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IRS990/TotalProgramServiceRevenueAmt0273772
IRS990/TotalReportableCompFromOrgAmt0102300
IRS990/TotalRevenueGrp/ExclusionAmt0407
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IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0274179
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0201610
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt070437
IRS990/TravelGrp/ManagementAndGeneralAmt03041
IRS990/TravelGrp/TotalAmt03041
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02329 N CAREER AVE SUITE 204
IRS990/USAddress/CityNm0SIOUX FALLS
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057107
IRS990/VotingMembersGoverningBodyCnt014
IRS990/VotingMembersIndependentCnt014
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNIFER OBERG
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06052751504
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-10-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SOUTH DAKOTA DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0SOUT
ReturnHeader/Filer/EIN0460404566
ReturnHeader/Filer/PhoneNum06052751504
ReturnHeader/Filer/USAddress/AddressLine1Txt0196 EAST 6TH STREET SUITE 200
ReturnHeader/Filer/USAddress/CityNm0SIOUX FALLS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057104
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0460434947
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0ELO PROF LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06300 SOUTH OLD VILLAGE PLACE SUITE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SIOUX FALLS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0SD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd057108
ReturnHeader/PreparerPersonGrp/PhoneNum06052711302
ReturnHeader/PreparerPersonGrp/PreparationDt02022-10-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MATTHEW J MUELLER CPA
ReturnHeader/ReturnTs02022-11-07T11:38:23-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JENNIFER
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0OBERG
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$70,437
Liabilities
$103,149
Net assets
-$32,712
Revenue
$274,179
Expenses
$500,668
Net income
-$226,489
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.21$0.38$0.17$0.51$0.61$0.10
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.18$0.25$0.07$0.64$0.55$0.09
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.12$0.28$0.16$0.43$0.56$0.13
2021Detailed filing. Detailed filing data is available for this year.$0.07$0.10$0.03$0.27$0.50$0.23
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.20$0.01$0.19$0.20$0.41$0.21
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.42$0.02$0.40$0.11$0.32$0.21
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.00$0.61$0.14$13.4$13.3
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.9$0.00$13.9$0.38$0.15$0.23
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.5$0.00$13.5$1.61$3.15$1.54
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.0$0.00$15.0$0.28$0.20$0.07
2014Detailed filing. Detailed filing data is available for this year.$14.9$0.00$14.9$0.44$0.21$0.22
2013Detailed filing. Detailed filing data is available for this year.$16.7$0.00$16.7$2.45$0.44$2.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.6$0.00$16.6$2.60
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.3$0.00$16.3$0.69