Civic Intelligence

Resolute Academy Inc

990 • Fiscal year 2019 • EIN 46-2879784

Jul 01, 2018 to Jun 30, 2019 • Filed on May 21, 2020

1265 E 112th StLos Angeles, CA 90059

(323) 559-6284

Siviq Scores

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

Liabilities / Assets

60th percentile

0.15x

Higher debt load relative to assets than 60% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

37th percentile

0.04x

Higher debt load relative to revenue than 37% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

60th percentile

7.4%

Higher net margin than 60% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

80th percentile

$135,833

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

83rd percentile

24%

Faster asset growth than 83% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

70th percentile

16%

Faster revenue growth than 70% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$921,636

Up $179,851 (+24%) from 2018

Net Assets

Up

$781,532

Up $250,058 (+47%) from 2018

Liabilities

Down

$140,104

Down $70,207 (-33%) from 2018

Revenue

Up

$3,394,372

Up $463,307 (+16%) from 2018

Expenses

Up

$3,144,314

Up $477,775 (+18%) from 2018

Net Income

Down

$250,058

Down $14,468 (-5.5%) from 2018

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2016: $438,298Liabilities 2016: $298,206Net Assets 2016: $140,0922016Assets 2017: $570,116Liabilities 2017: $303,168Net Assets 2017: $266,9482017Assets 2018: $741,785Liabilities 2018: $210,311Net Assets 2018: $531,4742018Assets 2019: $921,636Liabilities 2019: $140,104Net Assets 2019: $781,5322019Assets 2020: $1,173,819Liabilities 2020: $90,608Net Assets 2020: $1,083,2112020Assets 2021: $1,726,234Liabilities 2021: $259,589Net Assets 2021: $1,466,6452021Assets 2022: $1,956,376Liabilities 2022: $289,597Net Assets 2022: $1,666,7792022

Highlighted filing

2019

Assets$921,636
Liabilities$140,104
Net Assets$781,532

Operations Trend

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

$6.0M$4.0M$2.0M$0Revenue 2016: $1,548,503Expenses 2016: $1,461,118Net Income 2016: $87,3852016Revenue 2017: $1,960,784Expenses 2017: $1,833,928Net Income 2017: $126,8562017Revenue 2018: $2,931,065Expenses 2018: $2,666,539Net Income 2018: $264,5262018Revenue 2019: $3,394,372Expenses 2019: $3,144,314Net Income 2019: $250,0582019Revenue 2020: $3,352,750Expenses 2020: $3,051,071Net Income 2020: $301,6792020Revenue 2021: $3,582,611Expenses 2021: $3,199,177Net Income 2021: $383,4342021Revenue 2022: $4,443,476Expenses 2022: $4,243,342Net Income 2022: $200,1342022

Highlighted filing

2019

Revenue$3,394,372
Expenses$3,144,314
Net Income$250,058
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
May 21, 2020
Return Version
2018v3.1
Gross Receipts
$3,394,372
Mission and Program Overview

Mission

Resolute academy's mission is to equip students in grades five through eight with the academic foundation and strength of character necessary to excel in selective high schools and colleges.

A california public charter school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$278,646$422,484▲ $143,838
Savings and Temporary Cash Investments$408,569$383,744▼ $24,825
Prepaid Expenses and Deferred Charges$22,158$66,133▲ $43,975
Land, Buildings, and Equipment, Net$32,412$49,275▲ $16,863
Total Assets$741,785$921,636▲ $179,851
Liabilities
Accounts Payable and Accrued Expenses$110,305$90,096▼ $20,209
Unsecured Notes Loans Payable$100,006$50,008▼ $49,998
Total Liabilities$210,311$140,104▼ $70,207
Net Assets / Fund Balance
Unrestricted Net Assets$531,474$781,532▲ $250,058
Total Net Assets Fund Balance$531,474$781,532▲ $250,058
Total Liabilities and Net Assets / Fund Balance$741,785$921,636▲ $179,851

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$49,275$32,735$82,010
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Natasha Barriga-sipersteinExecutive DirectorFT$112,495$23,338$135,833

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$3,394,372
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$54,086
Change in Net Assets
$250,058

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,394,372
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,394,372
Total Revenue per Form 990
$3,394,372
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,057,844
Other Expenses$1,086,470
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,279,264$129,363-$1,408,627
Payroll Taxes$368,251$35,143-$403,394
Occupancy$143,028$22,883-$165,911
Other Employee Benefits$112,349$17,974-$130,323
Current Officers, Directors, Trustees, and Key Employees$34,650$80,850-$115,500
All Other Expenses$44,463$63,911-$108,374
Fees for Services Accounting-$91,273-$91,273
Fees for Services Other$6,932$29,813-$36,745
Other Expenses$84,691$29,309-$29,309
Insurance-$22,275-$22,275
Information Technology-$18,874-$18,874
Depreciation Depletion$11,064--$11,064
Office Expenses-$10,620-$10,620
Travel-$10,571-$10,571
Fees for Services Legal-$4,654-$4,654
Advertising-$4,124-$4,124
Interest-$251-$251
Total Functional Expenses$2,572,426$571,888$0$3,144,314

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,144,314
Total Expenses per Audited Statements$3,144,314
Total Expenses per Form 990$3,144,314
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
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
Backup withholding compliance
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
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, Part VI, Section A, Line 8B

The organization dies not have a committee with authority to act on its behalf.

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

Governing board will be provided the return prior to filing.

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

In connection with any actual or possible conflict of interest, an interested person must disclose the existence of the financial interest and be given an opportunity to disclose all material facts to the directors and members of committees considering the proposed transaction or arrangement. After disclosure of the financial interest and material facts, and after any discussion with the interested person, he/she shall leave the board of directors meeting while the determination of a conflict of interest is discussed and voted upon. The remaining board members shall decide if a conflict of interest exists.

Form 990, Part VI, Section B, Line 15

The process includes all of these elements: 1) review and approval by the board of directors, 2) use of data as to comparable compensation; and 3) contemporaneous documentation and recordkeeping.

Form 990, Part VI, Section C, Line 19

The required documents are available at the business address during normal business hours.

Filing and Contact Details

Filer

Filer Name
Resolute Academy Inc
EIN
46-2879784
Phone
3235596284
Address
1265 E 112TH ST, LOS ANGELES, CA 90059

Signing Officer

Name
Natasha Barriga Siperstein
Title
Executive Director
Phone
3235596284
Signed
2020-05-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Natasha Barriga Siperstei
Formed
2013
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
37
Volunteers
5

Preparer

Firm
Eide Bailly Llp
Address
10681 FOOTHILL BLVD STE 300, RANCHO CUCAMONGA, CA 91730-3831
Preparer
Catherine L Gray
Phone
9094664410
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The charter school has adopted financial accounting standards board (fasb) accounting standards codification (asc) topic 740 that clarifies the accounting for uncertainty in tax positions taken or expected to be taken on a tax return and provides that the tax effects from an uncertain tax position can be recognized in the financial statements only if, based on its merits, the position is more likely than not to be sustained on audit by the taxing authorities. Management believes that all tax positions taken to date are highly certain, and, accordingly, no accounting adjustment has been made to the financial statements.

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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/Desc0RESOLUTE ACADEMY IS LOCATED IN LOS ANGELES, CALIFORNIA AT 1265 E 112TH STREET. THE SCHOOL OPENED IN 2015 AND CURRENTLY SERVES APPROXIMATELY 245 STUDENTS IN GRADES FIVE THROUGH EIGHT. THE CHARTER SCHOOL IS A FREE PUBLIC CHARTER MIDDLE SCHOOL LOCATED IN WATTS FOR PARENTS WHOSE DREAM IT IS TO SEE THEIR CHILD GRADUATE PREPARED TO TACKLE THE RIGORS AND CHALLENGES OF THE MOST SELECTIVE HIGH SCHOOLS AND COLLEGES.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CHARTER SCHOOL HAS ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) TOPIC 740 THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN AND PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE FINANCIAL STATEMENTS ONLY IF, BASED ON ITS MERITS, THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AUDIT BY THE TAXING AUTHORITIES. MANAGEMENT BELIEVES THAT ALL TAX POSITIONS TAKEN TO DATE ARE HIGHLY CERTAIN, AND, ACCORDINGLY, NO ACCOUNTING ADJUSTMENT HAS BEEN MADE TO THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt049275
IRS990ScheduleD/TotalExpensesPerForm990Amt03144314
IRS990ScheduleD/TotalRevenuePerForm990Amt03394372
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03394372
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03144314
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ENROLLMENT PACKAGES AND WEBSITE
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1A CALIFORNIA PUBLIC CHARTER SCHOOL NO FINANCIAL ASSISTANCE AWARDED
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2CALIFORNIA APPORTIONMENT INCOME BASED ON STUDENT ATTENDANCE
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION DIES NOT HAVE A COMMITTEE WITH AUTHORITY TO ACT ON ITS BEHALF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNING BOARD WILL BE PROVIDED THE RETURN PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN AN OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE BOARD OF DIRECTORS MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. THE REMAINING BOARD MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PROCESS INCLUDES ALL OF THESE ELEMENTS: 1) REVIEW AND APPROVAL BY THE BOARD OF DIRECTORS, 2) USE OF DATA AS TO COMPARABLE COMPENSATION; AND 3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE REQUIRED DOCUMENTS ARE AVAILABLE AT THE BUSINESS ADDRESS DURING NORMAL BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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 B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0741785
IRS990/TotalAssetsEOYAmt0921636
IRS990/TotalAssetsGrp/BOYAmt0741785
IRS990/TotalAssetsGrp/EOYAmt0921636
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt03394372
IRS990/TotalEmployeeCnt037
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0571888
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02572426
IRS990/TotalFunctionalExpensesGrp/TotalAmt03144314
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0210311
IRS990/TotalLiabilitiesEOYAmt0140104
IRS990/TotalLiabilitiesGrp/BOYAmt0210311
IRS990/TotalLiabilitiesGrp/EOYAmt0140104
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0531474
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0781532
IRS990/TotalOtherCompensationAmt023338
IRS990/TotalProgramServiceExpensesAmt02572426
IRS990/TotalReportableCompFromOrgAmt0112495
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03394372
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0741785
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0921636
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt010571
IRS990/TravelGrp/TotalAmt010571
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0531474
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0781532
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0100006
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt050008
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01265 E 112TH ST
IRS990/USAddress/CityNm0LOS ANGELES
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd090059
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.RESOLUTEACADEMY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0NATASHA BARRIGA SIPERSTEIN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03235596284
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RESOLUTE ACADEMY INC
ReturnHeader/Filer/BusinessNameControlTxt0RESO
ReturnHeader/Filer/EIN0462879784
ReturnHeader/Filer/PhoneNum03235596284
ReturnHeader/Filer/USAddress/AddressLine1Txt01265 E 112TH ST
ReturnHeader/Filer/USAddress/CityNm0LOS ANGELES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd090059
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0AFB01DE0CC74786AF10CDFE220491FAFB6575FF0
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.60.36.163
ReturnHeader/FilingSecurityInformation/IPDt02020-05-21
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0PD
ReturnHeader/FilingSecurityInformation/IPTm008:19:09
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0450250958
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0EIDE BAILLY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010681 FOOTHILL BLVD STE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0RANCHO CUCAMONGA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0917303831
ReturnHeader/PreparerPersonGrp/PhoneNum09094664410
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CATHERINE L GRAY
ReturnHeader/ReturnTs02020-05-21T12:49:33-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-07-01
ReturnHeader/TaxPeriodEndDt02019-06-30
ReturnHeader/TaxYr02018

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