Civic Intelligence

Fiddlehead School

990 • Fiscal year 2018 • EIN 46-2313240

Jul 01, 2017 to Jun 30, 2018 • Filed on Jan 31, 2018

PO Box 1689Gray, ME 04039

(207) 657-2244

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.31x

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

48th percentile

0.08x

Higher debt load relative to revenue than 48% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

57th percentile

5.4%

Higher net margin than 57% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

53rd percentile

$69,647

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 4.8% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

88th percentile

36%

Faster asset growth than 88% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

51st percentile

4.4%

Faster revenue growth than 51% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$389,324

Up $103,637 (+36%) from 2017

Net Assets

Up

$267,961

Up $57,984 (+28%) from 2017

Liabilities

Up

$121,363

Up $45,653 (+60%) from 2017

Revenue

Up

$1,443,878

Up $60,318 (+4.4%) from 2017

Expenses

Up

$1,365,219

Up $110,500 (+8.8%) from 2017

Net Income

Down

$78,659

Down $50,182 (-39%) from 2017

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2014: $91,020Liabilities 2014: $108,412Net Assets 2014: -$17,3922014Assets 2015: $51,497Liabilities 2015: $66,525Net Assets 2015: -$15,0282015Assets 2016: $177,814Liabilities 2016: $96,678Net Assets 2016: $81,1362016Assets 2017: $285,687Liabilities 2017: $75,710Net Assets 2017: $209,9772017Assets 2018: $389,324Liabilities 2018: $121,363Net Assets 2018: $267,9612018Assets 2019: $546,019Liabilities 2019: $132,399Net Assets 2019: $413,6202019Assets 2020: $686,080Liabilities 2020: $134,298Net Assets 2020: $551,7822020Assets 2021: $2,450,740Liabilities 2021: $1,660,730Net Assets 2021: $790,0102021Assets 2022: $2,457,072Liabilities 2022: $1,678,679Net Assets 2022: $778,3932022Assets 2023: $2,159,448Liabilities 2023: $1,662,578Net Assets 2023: $496,8702023Assets 2024: $2,177,404Liabilities 2024: $1,624,311Net Assets 2024: $553,0932024

Highlighted filing

2018

Assets$389,324
Liabilities$121,363
Net Assets$267,961

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2014: $404,016Expenses 2014: $414,995Net Income 2014: -$10,9792014Revenue 2015: $755,494Expenses 2015: $753,130Net Income 2015: $2,3642015Revenue 2016: $1,019,836Expenses 2016: $917,440Net Income 2016: $102,3962016Revenue 2017: $1,383,560Expenses 2017: $1,254,719Net Income 2017: $128,8412017Revenue 2018: $1,443,878Expenses 2018: $1,365,219Net Income 2018: $78,6592018Revenue 2019: $1,578,855Expenses 2019: $1,433,196Net Income 2019: $145,6592019Revenue 2020: $1,713,761Expenses 2020: $1,575,599Net Income 2020: $138,1622020Revenue 2021: $2,123,993Expenses 2021: $1,886,515Net Income 2021: $237,4782021Revenue 2022: $2,410,789Expenses 2022: $2,422,406Net Income 2022: -$11,6172022Revenue 2023: $2,461,884Expenses 2023: $2,743,407Net Income 2023: -$281,5232023Revenue 2024: $2,659,825Expenses 2024: $2,603,602Net Income 2024: $56,2232024

Highlighted filing

2018

Revenue$1,443,878
Expenses$1,365,219
Net Income$78,659
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Jan 31, 2018
Return Version
2017v2.3
Gross Receipts
$1,445,361
Mission and Program Overview

Mission

To facilitate learning through an interdisciplinary approach to the arts and sciences in a safe, creative, fun, and loving environment. Continued on schedule o.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$94,463$153,829▲ $59,366
Land, Buildings, and Equipment, Net$98,493$133,299▲ $34,806
Cash and Non-Interest-Bearing Accounts$77,545$69,946▼ $7,599
Pledges and Grants Receivable$6,608$14,293▲ $7,685
Prepaid Expenses and Deferred Charges$291$10,086▲ $9,795
Total Assets$285,687$389,324▲ $103,637
Other Assets Total$8,287$7,871▼ $416
Liabilities
Accounts Payable and Accrued Expenses$73,513$66,991▼ $6,522
Mortgage Notes Payable Secured by Investment Property-$52,591-
Escrow Account Liability$2,197$1,781▼ $416
Total Liabilities$75,710$121,363▲ $45,653
Net Assets / Fund Balance
Unrestricted Net Assets$209,977$267,961▲ $57,984
Total Net Assets Fund Balance$209,977$267,961▲ $57,984
Total Liabilities and Net Assets / Fund Balance$285,687$389,324▲ $103,637

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$59,588$59,232$118,820
Equipment$73,711$14,431$88,142
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Jacinda Cotton-castroExecutive DiFT$69,647$69,647

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$78,843
Program Service Revenue
$1,365,008
Investment Income
$27
Other Revenue
$0
All Other Contributions
$14,913
Change in Net Assets
$78,659

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,443,878
Total Revenue per Audited Statements
$1,443,878
Total Revenue per Form 990
$1,443,878
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$973,394
Other Expenses$391,825
Total Fundraising Expense$1,965
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$641,706$117,718-$759,424
Occupancy$128,069--$128,069
Fees for Services Other$115,512--$115,512
Payroll Taxes$64,224$16,565-$80,789
Current Officers, Directors, Trustees, and Key Employees-$69,400-$69,400
Other Employee Benefits$52,581$11,200-$63,781
Depreciation Depletion$45,093--$45,093
Conferences and Meetings$3,825$9,548-$13,373
Insurance$6,085$4,812-$10,897
Fees for Services Accounting-$8,609-$8,609
All Other Expenses$3,911$2,289$1,965$8,165
Office Expenses-$6,673-$6,673
Information Technology$3,065$2,280-$5,345
Fees for Services Legal-$4,896-$4,896
Other Expenses$3,603--$3,603
Interest-$2,511-$2,511
Advertising-$2,504-$2,504
Total Functional Expenses$1,104,249$259,005$1,965$1,365,219

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,365,219
Total Expenses per Audited Statements$1,365,219
Total Expenses per Form 990$1,365,219
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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 4

The school was organized with fiddlehead center for the arts as the sole- member. The bylaws "article 2 - members" has been changed to read "there shall be no members as provided for in 13-b mrsa section 402".

Form 990, Page 6, Part VI, Line 6

Through march 2018, fiddlehead art & science center (the "center"), a maine nonprofit recognized by the irs as a 501(c)(3) organization, was the sole member of the school. In march, the school's board voted to amend the membership section of the bylaws so there shall be no members of the corporation. During its period of membership, the center was controlled by a separate and independent board of directors; however, the center had certain voting rights which included the right to appoint the greatest number of directors which constitutes a minority of the school's board.

Form 990, Page 6, Part VI, Line 7A

Until march 2018, the voting rights of the member included: a) the appointment of the greatest number of directors that constitutes a minority of the board (the "appointed directors"); b) the non-exclusive right to nominate individuals to serve as elected directors; c) the removal of any or all appointed directors; d) and the approval of a change of the number of directors constituting the board of directors within the limitations prescribed in the articles of incorporation

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

A copy of the completed draft form 990 is distributed to the board of directors for review and approval prior to filing. The board of directors has the chance to question or request changes to the form. After a final version of the form 990 is distributed to the board, the executive director will cause the form 990 to be filed as required.

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

Each director, officer, employee, and volunteer shall be provided with and asked to review a copy of the conflict of interest policy (the policy) and to acknowledge in writing that he or she has done so. The policy shall be reviewed annually by the board of directors. Any changes to the policy shall be communicated to all staff and volunteers.

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

At least annually, the board of directors (or a compensation committee) evaluates the executive director on her performance. The executive director's salary is set by board approval and based on comparability studies of similarly situated organizations. The board documents how it reached its decision, including the data on which it relied, in minutes of the meeting during which the compensation was approved.

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

No other officers or key employees

Form 990, Page 6, Part VI, Line 19

The organization makes its governing documents available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Fiddlehead School
EIN
46-2313240
Phone
2076572244
Address
PO BOX 1689, GRAY, ME 04039
Doing Business As
Fiddlehead School of Arts & Science

Signing Officer

Name
Jacinda Cotton-castro
Title
Executive Director
Phone
2076572244
Signed
2018-01-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jacinda Cotton-castro
Formed
2014
Legal Domicile
Me
Voting Board Members
7
Independent Board Members
7
Employees
46
Volunteers
100

Preparer

Firm
Smith & Associates Cpas
Address
500 US ROUTE 1 STE 102, YARMOUTH, ME 04096-6817
Preparer
Amanda Schultz Brown CPA
Phone
2078468881
Supplemental Narrative

Additional Explanations

Form 990

Organization's mission continued what we strive for: fiddlehead school of arts and sciences is committed to the growth and development of the whole child- socially, emotionally, physically, academically, intellectually, and artistically. The goal of a fiddlehead education is for students to build a toolbox of habits, skills, and wonderings to drive a lifelong love of learning. We aim to empower learners to seek answers to their own questions and to develop the means necessary for this endeavor. What we believe: at fiddlehead, six core educational beliefs drive our practices throughout the grades: we believe children are capable, competent, innately curious, and that they are the co-constructors of their own learning. Our school maintains a deep respect for children and childhood. We believe in teachers as facilitators of learning, closely observing children, assessing understanding through a variety of approaches, and using this knowledge to help students extend their thinking. We offer students a variety of materials and methods to express themselves and their understandings, guiding learning through diverse pathways. We believe in learning as a social endeavor, taking place in the cultural context of the child, family, school, and broader community. To this end, we see school and family as partners in a child's education. We believe that social and emotional development are important cornerstones of education. Our students learn to respect diversity in all its forms, problem solve social conflicts, and be advocates for themselves and others. We believe in connecting students to the larger world outside the school walls through relationships with community resources and the natural environment. We help students cultivate a sense of place and an understanding of, and appreciation for, the interconnectedness of the world in which they live. We believe in the importance of documenting student work and experiences in order to make learning visible to students, families, and our school community.

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The school administers certain funds for the parent teacher organization which assists in supporting the school. The funds are reflected as a liability on the school's balance sheet at june 30.

Schedule D, Page 3, Part X

The school recognizes the financial statement effects from income tax positions taken or expected to be taken in a tax return, only when it is determined that the income tax position will more-likely-than-not be sustained upon examination by taxing authorities. It is the opinion of management that the school had no uncertain positions that qualify for recognition or disclosure in the financial statements.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL ADMINISTERS CERTAIN FUNDS FOR THE PARENT TEACHER ORGANIZATION WHICH ASSISTS IN SUPPORTING THE SCHOOL. THE FUNDS ARE REFLECTED AS A LIABILITY ON THE SCHOOL'S BALANCE SHEET AT JUNE 30.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECOGNIZES THE FINANCIAL STATEMENT EFFECTS FROM INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE-LIKELY-THAN-NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. IT IS THE OPINION OF MANAGEMENT THAT THE SCHOOL HAD NO UNCERTAIN POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL INCLUDES THE FOLLOWING DISCLOSURE IN ALL MEDIA PUBLICATIONS: "FIDDLEHEAD SCHOOL (FSAS) DOES NOT DISCRIMINATE ON ANY BASIS".
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1FIDDLEHEAD SCHOOL IS A PUBLIC CHARTER SCHOOL AND DOES NOT ISSUE ANY SORT OF SCHOLARSHIPS NOR OTHER FINANCIAL ASSISTANCE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 4
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION'S MISSION CONTINUED WHAT WE STRIVE FOR: FIDDLEHEAD SCHOOL OF ARTS AND SCIENCES IS COMMITTED TO THE GROWTH AND DEVELOPMENT OF THE WHOLE CHILD- SOCIALLY, EMOTIONALLY, PHYSICALLY, ACADEMICALLY, INTELLECTUALLY, AND ARTISTICALLY. THE GOAL OF A FIDDLEHEAD EDUCATION IS FOR STUDENTS TO BUILD A TOOLBOX OF HABITS, SKILLS, AND WONDERINGS TO DRIVE A LIFELONG LOVE OF LEARNING. WE AIM TO EMPOWER LEARNERS TO SEEK ANSWERS TO THEIR OWN QUESTIONS AND TO DEVELOP THE MEANS NECESSARY FOR THIS ENDEAVOR. WHAT WE BELIEVE: AT FIDDLEHEAD, SIX CORE EDUCATIONAL BELIEFS DRIVE OUR PRACTICES THROUGHOUT THE GRADES: WE BELIEVE CHILDREN ARE CAPABLE, COMPETENT, INNATELY CURIOUS, AND THAT THEY ARE THE CO-CONSTRUCTORS OF THEIR OWN LEARNING. OUR SCHOOL MAINTAINS A DEEP RESPECT FOR CHILDREN AND CHILDHOOD. WE BELIEVE IN TEACHERS AS FACILITATORS OF LEARNING, CLOSELY OBSERVING CHILDREN, ASSESSING UNDERSTANDING THROUGH A VARIETY OF APPROACHES, AND USING THIS KNOWLEDGE TO HELP STUDENTS EXTEND THEIR THINKING. WE OFFER STUDENTS A VARIETY OF MATERIALS AND METHODS TO EXPRESS THEMSELVES AND THEIR UNDERSTANDINGS, GUIDING LEARNING THROUGH DIVERSE PATHWAYS. WE BELIEVE IN LEARNING AS A SOCIAL ENDEAVOR, TAKING PLACE IN THE CULTURAL CONTEXT OF THE CHILD, FAMILY, SCHOOL, AND BROADER COMMUNITY. TO THIS END, WE SEE SCHOOL AND FAMILY AS PARTNERS IN A CHILD'S EDUCATION. WE BELIEVE THAT SOCIAL AND EMOTIONAL DEVELOPMENT ARE IMPORTANT CORNERSTONES OF EDUCATION. OUR STUDENTS LEARN TO RESPECT DIVERSITY IN ALL ITS FORMS, PROBLEM SOLVE SOCIAL CONFLICTS, AND BE ADVOCATES FOR THEMSELVES AND OTHERS. WE BELIEVE IN CONNECTING STUDENTS TO THE LARGER WORLD OUTSIDE THE SCHOOL WALLS THROUGH RELATIONSHIPS WITH COMMUNITY RESOURCES AND THE NATURAL ENVIRONMENT. WE HELP STUDENTS CULTIVATE A SENSE OF PLACE AND AN UNDERSTANDING OF, AND APPRECIATION FOR, THE INTERCONNECTEDNESS OF THE WORLD IN WHICH THEY LIVE. WE BELIEVE IN THE IMPORTANCE OF DOCUMENTING STUDENT WORK AND EXPERIENCES IN ORDER TO MAKE LEARNING VISIBLE TO STUDENTS, FAMILIES, AND OUR SCHOOL COMMUNITY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL WAS ORGANIZED WITH FIDDLEHEAD CENTER FOR THE ARTS AS THE SOLE- MEMBER. THE BYLAWS "ARTICLE 2 - MEMBERS" HAS BEEN CHANGED TO READ "THERE SHALL BE NO MEMBERS AS PROVIDED FOR IN 13-B MRSA SECTION 402".
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THROUGH MARCH 2018, FIDDLEHEAD ART & SCIENCE CENTER (THE "CENTER"), A MAINE NONPROFIT RECOGNIZED BY THE IRS AS A 501(C)(3) ORGANIZATION, WAS THE SOLE MEMBER OF THE SCHOOL. IN MARCH, THE SCHOOL'S BOARD VOTED TO AMEND THE MEMBERSHIP SECTION OF THE BYLAWS SO THERE SHALL BE NO MEMBERS OF THE CORPORATION. DURING ITS PERIOD OF MEMBERSHIP, THE CENTER WAS CONTROLLED BY A SEPARATE AND INDEPENDENT BOARD OF DIRECTORS; HOWEVER, THE CENTER HAD CERTAIN VOTING RIGHTS WHICH INCLUDED THE RIGHT TO APPOINT THE GREATEST NUMBER OF DIRECTORS WHICH CONSTITUTES A MINORITY OF THE SCHOOL'S BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNTIL MARCH 2018, THE VOTING RIGHTS OF THE MEMBER INCLUDED: A) THE APPOINTMENT OF THE GREATEST NUMBER OF DIRECTORS THAT CONSTITUTES A MINORITY OF THE BOARD (THE "APPOINTED DIRECTORS"); B) THE NON-EXCLUSIVE RIGHT TO NOMINATE INDIVIDUALS TO SERVE AS ELECTED DIRECTORS; C) THE REMOVAL OF ANY OR ALL APPOINTED DIRECTORS; D) AND THE APPROVAL OF A CHANGE OF THE NUMBER OF DIRECTORS CONSTITUTING THE BOARD OF DIRECTORS WITHIN THE LIMITATIONS PRESCRIBED IN THE ARTICLES OF INCORPORATION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF THE COMPLETED DRAFT FORM 990 IS DISTRIBUTED TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING. THE BOARD OF DIRECTORS HAS THE CHANCE TO QUESTION OR REQUEST CHANGES TO THE FORM. AFTER A FINAL VERSION OF THE FORM 990 IS DISTRIBUTED TO THE BOARD, THE EXECUTIVE DIRECTOR WILL CAUSE THE FORM 990 TO BE FILED AS REQUIRED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EACH DIRECTOR, OFFICER, EMPLOYEE, AND VOLUNTEER SHALL BE PROVIDED WITH AND ASKED TO REVIEW A COPY OF THE CONFLICT OF INTEREST POLICY (THE POLICY) AND TO ACKNOWLEDGE IN WRITING THAT HE OR SHE HAS DONE SO. THE POLICY SHALL BE REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS. ANY CHANGES TO THE POLICY SHALL BE COMMUNICATED TO ALL STAFF AND VOLUNTEERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AT LEAST ANNUALLY, THE BOARD OF DIRECTORS (OR A COMPENSATION COMMITTEE) EVALUATES THE EXECUTIVE DIRECTOR ON HER PERFORMANCE. THE EXECUTIVE DIRECTOR'S SALARY IS SET BY BOARD APPROVAL AND BASED ON COMPARABILITY STUDIES OF SIMILARLY SITUATED ORGANIZATIONS. THE BOARD DOCUMENTS HOW IT REACHED ITS DECISION, INCLUDING THE DATA ON WHICH IT RELIED, IN MINUTES OF THE MEETING DURING WHICH THE COMPENSATION WAS APPROVED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7NO OTHER OFFICERS OR KEY EMPLOYEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 15B
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ReturnHeader/BuildTS02019-02-21 02:37:17Z
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