Civic Intelligence

Watertown Development Company

990 • Fiscal year 2019 • EIN 46-6012194

Aug 01, 2018 to Jul 31, 2019 • Filed on Nov 04, 2019

Organization ProfileWWW.WATERTOWNDEVELOPMENTCO.COM
PO Box 332Watertown, SD 57201

(605) 886-8425

Siviq Scores

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

Liabilities / Assets

81st percentile

0.49x

Higher debt load relative to assets than 81% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

92nd percentile

1.54x

Higher debt load relative to revenue than 92% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Net Margin

96th percentile

45%

Higher net margin than 96% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

14th percentile

$152,341

Higher top officer pay than 14% of similar nonprofits.

Top officer pay equals 3.1% of source-year revenue.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2019

Asset Growth

97th percentile

57%

Faster asset growth than 97% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

585%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets81st percentile

Assets

Up

$15,383,937

Up $5,602,204 (+57%) from 2018

Net Assets

Up

$7,781,057

Up $2,220,932 (+40%) from 2018

Liabilities

Up

$7,602,880

Up $3,381,272 (+80%) from 2018

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin96th percentile

Revenue

Up

$4,935,830

Up $4,214,963 (+585%) from 2018

Expenses

Up

$2,714,898

Up $1,749,348 (+181%) from 2018

Net Income

Up

$2,220,932

Up $2,465,615 (+1008%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth97th percentile

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

$40M$30M$20M$10M$0Assets 2011: $12,461,939Liabilities 2011: $9,953,032Net Assets 2011: $2,508,9072011Assets 2012: $13,432,983Liabilities 2012: $9,381,025Net Assets 2012: $4,051,9582012Assets 2013: $14,342,505Liabilities 2013: $9,430,108Net Assets 2013: $4,912,3972013Assets 2014: $11,701,037Liabilities 2014: $4,295,044Net Assets 2014: $7,405,9932014Assets 2015: $12,881,741Liabilities 2015: $5,769,999Net Assets 2015: $7,111,7422015Assets 2016: $12,414,276Liabilities 2016: $5,663,676Net Assets 2016: $6,750,6002016Assets 2017: $10,276,126Liabilities 2017: $4,471,318Net Assets 2017: $5,804,8082017Assets 2018: $9,781,733Liabilities 2018: $4,221,608Net Assets 2018: $5,560,1252018Assets 2019: $15,383,937Liabilities 2019: $7,602,880Net Assets 2019: $7,781,0572019Assets 2020: $22,088,166Liabilities 2020: $13,758,658Net Assets 2020: $8,329,5082020Assets 2021: $26,333,482Liabilities 2021: $18,426,025Net Assets 2021: $7,907,4572021Assets 2022: $26,777,594Liabilities 2022: $19,629,312Net Assets 2022: $7,148,2822022Assets 2023: $25,950,816Liabilities 2023: $19,782,483Net Assets 2023: $6,168,3332023Assets 2024: $30,618,359Liabilities 2024: $25,430,628Net Assets 2024: $5,187,7312024

Highlighted filing

2019

Assets$15,383,937
Liabilities$7,602,880
Net Assets$7,781,057
Open 2019 Filing

Operations Trend

Revenue Growth99th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2011: $1,142,0842011Expenses 2012: $1,069,9442012Expenses 2013: $1,562,2832013Revenue 2014: $3,819,817Expenses 2014: $1,326,221Net Income 2014: $2,493,5962014Revenue 2015: $658,392Expenses 2015: $952,643Net Income 2015: -$294,2512015Revenue 2016: $752,161Expenses 2016: $1,113,303Net Income 2016: -$361,1422016Revenue 2017: $219,308Expenses 2017: $1,165,100Net Income 2017: -$945,7922017Revenue 2018: $720,867Expenses 2018: $965,550Net Income 2018: -$244,6832018Revenue 2019: $4,935,830Expenses 2019: $2,714,898Net Income 2019: $2,220,9322019Revenue 2020: $2,114,531Expenses 2020: $1,566,080Net Income 2020: $548,4512020Revenue 2021: $2,078,248Expenses 2021: $2,500,299Net Income 2021: -$422,0512021Revenue 2022: $1,539,881Expenses 2022: $2,299,056Net Income 2022: -$759,1752022Revenue 2023: $1,410,951Expenses 2023: $2,390,900Net Income 2023: -$979,9492023Revenue 2024: $3,726,959Expenses 2024: $4,124,210Net Income 2024: -$397,2512024

Highlighted filing

2019

Revenue$4,935,830
Expenses$2,714,898
Net Income$2,220,932
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Nov 4, 2019
Return Version
2018v3.1
Gross Receipts
$4,935,830
Mission and Program Overview

Mission

Economic development in the watertown, sd area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$6,212,506$8,728,851▲ $2,516,345
Rtn Earn Endowment Incm Other Fnds$4,678,159$6,899,091▲ $2,220,932
Pledges and Grants Receivable$122,382$2,768,660▲ $2,646,278
Savings and Temporary Cash Investments$2,317,492$1,799,108▼ $518,384
Accounts Receivable$28,650$1,034,590▲ $1,005,940
Cap Stk Tr Prin Current Funds$881,966$881,966→ $0
Investments Other Securities$102,607$111,624▲ $9,017
Prepaid Expenses and Deferred Charges$781$3,789▲ $3,008
Total Assets$9,781,733$15,383,937▲ $5,602,204
Other Assets Total$997,315$937,315▼ $60,000
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,112,916$6,485,387▲ $2,372,471
Accounts Payable and Accrued Expenses$108,692$1,117,493▲ $1,008,801
Total Liabilities$4,221,608$7,602,880▲ $3,381,272
Net Assets / Fund Balance
Total Net Assets Fund Balance$5,560,125$7,781,057▲ $2,220,932
Total Liabilities and Net Assets / Fund Balance$9,781,733$15,383,937▲ $5,602,204

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,542,576$1,698,800$10,241,376
Land$186,275-$186,275
Other Assets Org$937,315--
Compensation and Service Providers
Top Officer Pay14th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chris SchilkenPresidentFT$125,538$26,803$152,341

Board Members and Trustees

NameTitle
Jim RedlingerChairman
Alan StagerVice Chairma
Curt TregoBoard Member
Dewayne HibbertBoard Member
Dustin FlattenBoard Member
James RobyBoard Member
Jim SeurerBoard Member
Josh HogueBoard Member
Kc DeboerBoard Member
Laura HeathcoteBoard Member
Mark DunnBoard Member
Michael CartneyBoard Member
Sarah CaronBoard Member
Troy VandusenBoard Member
Troy ZebroskiBoard Member
Steve LehnerSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$4,057,842
Program Service Revenue
$868,767
Investment Income
$9,221
Other Revenue
$0
All Other Contributions
$2,728,562
Change in Net Assets
$2,220,932
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,166,249
Salaries, Compensation, and Employee Benefits$370,527
Professional Fundraising Fees$178,122
Total Fundraising Expense$178,122
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$274,768--$274,768
Depreciation Depletion$195,012--$195,012
Interest$194,483--$194,483
Fees for Services Professional Fundraising--$178,122$178,122
Advertising$139,715--$139,715
Other Employee Benefits$69,096--$69,096
All Other Expenses$61,859--$61,859
Fees for Services Legal$56,112--$56,112
Other Expenses$49,383--$49,383
Fees for Services Accounting$39,059--$39,059
Payroll Taxes$20,666--$20,666
Occupancy$6,835--$6,835
Pension Plan Contributions$5,997--$5,997
Total Functional Expenses$2,536,776$0$178,122$2,714,898
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$178,122
Political and Lobbying Activity
Political campaign 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
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
Yes
Management duties delegated
No

Governance Explanations

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

“Board of directors is elected by its members.”

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

“Yes by virtue of actions taken at annual meeting.”

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

“The 990 is signed by the director and a copy is presented to the board of directors.”

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

“Directors and officers are required to disclose any possible conflicts and agree to the policy annually.”

Form 990, Page 6, Part VI, Line 19

“Watertown development company makes all of its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Watertown Development Company
EIN
46-6012194
Phone
6058868425
Address
PO BOX 332, WATERTOWN, SD 57201

Signing Officer

Name
Chris Schilken
Title
President
Phone
6058840340
Signed
2019-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chris Schilken
Formed
1947
Legal Domicile
Sd
Voting Board Members
11
Independent Board Members
11
Employees
4
Volunteers
11

Preparer

Firm
Vrs Pc
Address
PO BOX 1267, WATERTOWN, SD 57201-6267
Preparer
Sherry L Kleinsasser
Phone
6058868425
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IRS990/OtherExpensesGrp/Desc1RENTAL PROPERTY COSTS
IRS990/OtherExpensesGrp/Desc2PROVISION FOR UNCOLLECTAB
IRS990/OtherExpensesGrp/Desc3TRAVEL & MEETINGS
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IRS990/OtherExpensesGrp/ProgramServicesAmt1109378
IRS990/OtherExpensesGrp/ProgramServicesAmt2108413
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IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt020666
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IRS990/PensionPlanContributionsGrp/ProgramServicesAmt05997
IRS990/PensionPlanContributionsGrp/TotalAmt05997
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0122382
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0781
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IRS990/PrincipalOfficerNm0CHRIS SCHILKEN
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IRS990/ProgramServiceRevenueGrp/Desc0QUALIFYING RENT INCOME
IRS990/ProgramServiceRevenueGrp/Desc1GAIN ON SALE OF PROPERTY
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1423563
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0445204
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1423563
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0104280
IRS990/PYInvestmentIncomeAmt06681
IRS990/PYOtherExpensesAmt0619672
IRS990/PYOtherRevenueAmt01931
IRS990/PYProgramServiceRevenueAmt0607975
IRS990/PYRevenuesLessExpensesAmt0-244683
IRS990/PYSalariesCompEmpBnftPaidAmt0303278
IRS990/PYTotalExpensesAmt0965550
IRS990/PYTotalProfFndrsngExpnsAmt042600
IRS990/PYTotalRevenueAmt0720867
IRS990/ReconcilationRevenueExpnssAmt02220932
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0868767
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt04678159
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt06899091
IRS990/SavingsAndTempCashInvstGrp/BOYAmt02317492
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01799108
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/EquipmentGrp/BookValueAmt08542576
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01698800
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt010241376
IRS990ScheduleD/LandGrp/BookValueAmt0186275
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0186275
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0937315
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0LAND HELD FOR DEVELOPMENT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08728851
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0937315
IRS990ScheduleG/AgrmtProfFundraisingActyInd0true
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0125538
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount015000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt011803
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0CHRIS SCHILKEN
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0152341
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD OF DIRECTORS IS ELECTED BY ITS MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1YES BY VIRTUE OF ACTIONS TAKEN AT ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS SIGNED BY THE DIRECTOR AND A COPY IS PRESENTED TO THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DIRECTORS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY POSSIBLE CONFLICTS AND AGREE TO THE POLICY ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4WATERTOWN DEVELOPMENT COMPANY MAKES ALL OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt015383937
IRS990/TotalAssetsGrp/BOYAmt09781733
IRS990/TotalAssetsGrp/EOYAmt015383937
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalContributionsAmt04057842
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0178122
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02536776
IRS990/TotalFunctionalExpensesGrp/TotalAmt02714898
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04221608
IRS990/TotalLiabilitiesEOYAmt07602880
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IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt07781057
IRS990/TotalProgramServiceExpensesAmt02536776
IRS990/TotalProgramServiceRevenueAmt0868767
IRS990/TotalReportableCompFromOrgAmt0152341
IRS990/TotalRevenueGrp/ExclusionAmt09221
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0868767
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt04935830
IRS990/TotalVolunteersCnt011
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt09781733
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt015383937
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 332
IRS990/USAddress/CityNm0WATERTOWN
IRS990/USAddress/StateAbbreviationCd0SD
IRS990/USAddress/ZIPCd057201
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.WATERTOWNDEVELOPMENTCO.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02020-03-31 21:24:44Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CHRIS SCHILKEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum06058840340
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-11-04
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WATERTOWN DEVELOPMENT COMPANY
ReturnHeader/Filer/BusinessNameControlTxt0WATE
ReturnHeader/Filer/EIN0466012194
ReturnHeader/Filer/PhoneNum06058868425
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 332
ReturnHeader/Filer/USAddress/CityNm0WATERTOWN
ReturnHeader/Filer/USAddress/StateAbbreviationCd0SD
ReturnHeader/Filer/USAddress/ZIPCd057201

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$15,383,937
Liabilities
$7,602,880
Net assets
$7,781,057
Revenue
$4,935,830
Expenses
$2,714,898
Net income
$2,220,932
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$30.6$25.4$5.19$3.73$4.12$0.40
2023Detailed filing. Detailed filing data is available for this year.$26.0$19.8$6.17$1.41$2.39$0.98
2022Detailed filing. Detailed filing data is available for this year.$26.8$19.6$7.15$1.54$2.30$0.76
2021Detailed filing. Detailed filing data is available for this year.$26.3$18.4$7.91$2.08$2.50$0.42
2020Detailed filing. Detailed filing data is available for this year.$22.1$13.8$8.33$2.11$1.57$0.55
2019Detailed filing. Detailed filing data is available for this year.$15.4$7.60$7.78$4.94$2.71$2.22
2018Detailed filing. Detailed filing data is available for this year.$9.78$4.22$5.56$0.72$0.97$0.24
2017Detailed filing. Detailed filing data is available for this year.$10.3$4.47$5.80$0.22$1.17$0.95
2016Detailed filing. Detailed filing data is available for this year.$12.4$5.66$6.75$0.75$1.11$0.36
2015Detailed filing. Detailed filing data is available for this year.$12.9$5.77$7.11$0.66$0.95$0.29
2014Detailed filing. Detailed filing data is available for this year.$11.7$4.30$7.41$3.82$1.33$2.49
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.3$9.43$4.91$1.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.4$9.38$4.05$1.07
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.5$9.95$2.51$1.14