Civic Intelligence

Roanoke Cultural Endowment

990 • Fiscal year 2019 • EIN 47-2754436

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 13, 2020

Organization ProfileN/A
PO Box 22Roanoke, VA 24002

(540) 588-7489

Siviq Scores

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

Liabilities / Assets

18th percentile

0.00x

Higher debt load relative to assets than 18% of similar nonprofits.

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

Liabilities / Revenue

22nd percentile

0.01x

Higher debt load relative to revenue than 22% of similar nonprofits.

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

Net Margin

95th percentile

68%

Higher net margin than 95% of similar nonprofits.

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

Top Officer Pay

42nd percentile

$39,375

Higher top officer pay than 42% of similar nonprofits.

Top officer pay equals 9.9% of source-year revenue.

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

Asset Growth

82nd percentile

24%

Faster asset growth than 82% of similar nonprofits.

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

Revenue Growth

7th percentile

-38%

Faster revenue growth than 7% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets18th percentile

Assets

Up

$2,598,316

Up $494,620 (+24%) from 2018

Net Assets

Up

$2,595,437

Up $492,296 (+23%) from 2018

Liabilities

Up

$2,879

Up $2,324 (+419%) from 2018

Revenue And Expenses
Liabilities / Revenue22nd percentileNet Margin95th percentile

Revenue

Down

$396,874

Down $246,012 (-38%) from 2018

Expenses

Up

$126,451

Up $75,485 (+148%) from 2018

Net Income

Down

$270,423

Down $321,497 (-54%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth82nd percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2015: $369,158Liabilities 2015: $1,583Net Assets 2015: $367,5752015Assets 2016: $1,234,805Liabilities 2016: $1,030Net Assets 2016: $1,233,7752016Assets 2017: $1,628,904Liabilities 2017: $585Net Assets 2017: $1,628,3192017Assets 2018: $2,103,696Liabilities 2018: $555Net Assets 2018: $2,103,1412018Assets 2019: $2,598,316Liabilities 2019: $2,879Net Assets 2019: $2,595,4372019Assets 2020: $3,343,737Liabilities 2020: $25,060Net Assets 2020: $3,318,6772020Assets 2021: $4,214,431Liabilities 2021: $734Net Assets 2021: $4,213,6972021Assets 2022: $4,507,686Liabilities 2022: $3,006Net Assets 2022: $4,504,6802022Assets 2023: $5,602,288Liabilities 2023: $1,925Net Assets 2023: $5,600,3632023Assets 2024: $6,866,829Liabilities 2024: $1,995Net Assets 2024: $6,864,8342024

Highlighted filing

2019

Assets$2,598,316
Liabilities$2,879
Net Assets$2,595,437
Open 2019 Filing

Operations Trend

Revenue Growth7th percentile

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

$1.5M$1.0M$500K$0Revenue 2015: $378,514Expenses 2015: $10,939Net Income 2015: $367,5752015Revenue 2016: $928,249Expenses 2016: $62,010Net Income 2016: $866,2392016Revenue 2017: $371,730Expenses 2017: $52,972Net Income 2017: $318,7582017Revenue 2018: $642,886Expenses 2018: $50,966Net Income 2018: $591,9202018Revenue 2019: $396,874Expenses 2019: $126,451Net Income 2019: $270,4232019Revenue 2020: $575,422Expenses 2020: $120,754Net Income 2020: $454,6682020Revenue 2021: $695,720Expenses 2021: $89,797Net Income 2021: $605,9232021Revenue 2022: $1,052,972Expenses 2022: $165,495Net Income 2022: $887,4772022Revenue 2023: $758,656Expenses 2023: $122,261Net Income 2023: $636,3952023Revenue 2024: $1,071,562Expenses 2024: $173,248Net Income 2024: $898,3142024

Highlighted filing

2019

Revenue$396,874
Expenses$126,451
Net Income$270,423
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 13, 2020
Return Version
2019v5.0
Gross Receipts
$494,152
Mission and Program Overview

Mission

The organization's mission is to cultivate a legacy of stability, engagement, and vitality for arts and cultures in the city of roanoke through grant making. Through a strategic partnership with the city of roanoke, the organization will provide a sustainable revenue source for arts and cultural organizations in the city of roanoke.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$1,381,467$1,758,475▲ $377,008
Pledges and Grants Receivable$714,125$696,401▼ $17,724
Cash and Non-Interest-Bearing Accounts$7,660$143,168▲ $135,508
Land, Buildings, and Equipment, Net$444$272▼ $172
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,103,696$2,598,316▲ $494,620
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses-$2,137-
Other Liabilities$555$742▲ $187
Total Liabilities$555$2,879▲ $2,324
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,218,434$1,487,579▲ $269,145
Net Assets Without Donor Restrictions$884,707$1,107,858▲ $223,151
Total Net Assets Fund Balance$2,103,141$2,595,437▲ $492,296
Total Liabilities and Net Assets / Fund Balance$2,103,696$2,598,316▲ $494,620

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$272$588$860

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$1,309,816$156,101▲ $255,297-$1,721,214
2018$951,731$553,148▼ $84,178-$1,381,467
2017-$862,516▲ $89,215-$951,731
Compensation and Service Providers
Top Officer Pay42nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Shaleen PowellExecutive DirectorPT$39,375$39,375

Board Members and Trustees

NameTitle
J David WinePresident
Cheryl MoselyBoard Member
David TrinkleBoard Member
Nancy GrayBoard Member
Sarah Tune DohertyBoard Member
Sherman P Lea JrBoard Member
William D ElliotBoard Member
Katherine Fralin WalkerSecretary
Lucas L ThorntonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$357,527
Program Service Revenue
$0
Investment Income
$39,347
Other Revenue
$0
All Other Contributions
$232,527
Change in Net Assets
$270,423

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded3$61,348Market Prices
Total Noncash Contributions3$61,348-

Audited Revenue Reconciliation

Revenue per Audited Statements
$390,951
Revenue Not Reported on Financial Statements
$5,923
Revenue Not Reported on Form 990
$221,873
Total Revenue per Audited Statements
$612,824
Total Revenue per Form 990
$396,874
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$84,028
Total Fundraising Expense$74,242
Salaries, Compensation, and Employee Benefits$42,423
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees-$27,563$11,812$39,375
Advertising--$37,856$37,856
Fees for Services Accounting-$11,305-$11,305
Fees for Services Other--$7,425$7,425
Fees for Service Investment Mgmnt Fees-$5,923-$5,923
Payroll Taxes-$2,134$914$3,048
Occupancy-$1,641-$1,641
Information Technology-$454$454$908
Office Expenses-$435-$435
Depreciation Depletion--$172$172
Other Expenses-$503$167$167
All Other Expenses-$99-$99
Total Functional Expenses$0$52,209$74,242$126,451

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$126,451
Expenses per Audited Statements$120,528
Total Expenses per Audited Statements$120,528
Expenses Not Reported on Financial Statements$5,923
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Witholdings$742
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 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
Yes
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, Line 11B: Form 990 Review Process

“The Board reviews the Form 990 and approves before filing.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“Annually board members must complete a document disclosing any conflicts of interest.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The board determines executive director salary based on hours worked and comparable salaries for other similar positions in the area.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“All documents are provided upon request.”

Filing and Contact Details

Filer

Filer Name
Roanoke Cultural Endowment
EIN
47-2754436
Phone
5405887489
Address
PO BOX 22, ROANOKE, VA 24002

Signing Officer

Name
Shaleen Powell
Title
Executive Director
Signed
2020-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Shaleen Powell
Formed
2015
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
9
Employees
1

Preparer

Firm
Foti Flynn Lowen & Co PC
Address
PO Box 12765, Roanoke, VA 24028-2765
Preparer
Bradley J Davis CPA
Phone
5403449246
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IRS990/MissionDesc0THE ORGANIZATION'S MISSION IS TO CULTIVATE A LEGACY OF STABILITY, ENGAGEMENT, AND VITALITY FOR ARTS AND CULTURES IN THE CITY OF ROANOKE THROUGH GRANT MAKING. THROUGH A STRATEGIC PARTNERSHIP WITH THE CITY OF ROANOKE, THE ORGANIZATION WILL PROVIDE A SUSTAINABLE REVENUE SOURCE FOR ARTS AND CULTURAL ORGANIZATIONS IN THE CITY OF ROANOKE.
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IRS990/OtherExpensesGrp/Desc3DUES AND SUBSCRIPTIONS
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IRS990/OtherExpensesGrp/FundraisingAmt1167
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02152
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1503
IRS990/OtherExpensesGrp/TotalAmt015442
IRS990/OtherExpensesGrp/TotalAmt12152
IRS990/OtherExpensesGrp/TotalAmt2503
IRS990/OtherExpensesGrp/TotalAmt3167
IRS990/OtherLiabilitiesGrp/BOYAmt0555
IRS990/OtherLiabilitiesGrp/EOYAmt0742
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/TotalAmt00
IRS990/OtherWebsiteInd0X
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt0914
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02134
IRS990/PayrollTaxesGrp/TotalAmt03048
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0714125
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0696401
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0SHALEEN POWELL
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0614188
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt028698
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt035028
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IRS990/PYTotalRevenueAmt0642886
IRS990/QuidProQuoContributionsInd0false
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IRS990/ReconcilationRevenueExpnssAmt0270423
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0357527
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0614188
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0356106
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0927225
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0378100
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IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt01024
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0414
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt077767
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.71190
IRS990ScheduleA/PublicSupportTotal170Amt01929890
IRS990ScheduleA/SubstantialContributorsTotAmt0703256
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0927225
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0378100
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02633146
IRS990ScheduleA/TotalSupportAmt02710913
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt0156101
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt01721214
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0255297
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt039234
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0951731
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0553148
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt01381467
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-84178
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0862516
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0951731
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt089215
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0272
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0588
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0860
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IRS990ScheduleD/ExpensesSubtotalAmt0120528
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IRS990ScheduleD/InvestmentExpensesNotIncldAmt05923
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0742
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL WITHOLDINGS
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.44000
IRS990ScheduleD/RelatedOrgListSchRInd0false
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt05923
IRS990ScheduleD/RevenueSubtotalAmt0390951
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0272
IRS990ScheduleD/TotalExpensesPerForm990Amt0126451
IRS990ScheduleD/TotalLiabilityAmt0742
IRS990ScheduleD/TotalRevenuePerForm990Amt0396874
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0612824
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0120528
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd0false
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd0false
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt03
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0MARKET PRICES
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NonCashCheckboxInd0X
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/NoncashContributionsRptF990Amt061348
IRS990ScheduleM/ThirdPartiesUsedInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Board reviews the Form 990 and approves before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ANNUALLY BOARD MEMBERS MUST COMPLETE A DOCUMENT DISCLOSING ANY CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD DETERMINES EXECUTIVE DIRECTOR SALARY BASED ON HOURS WORKED AND COMPARABLE SALARIES FOR OTHER SIMILAR POSITIONS IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DOCUMENTS ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$2,598,316
Liabilities
$2,879
Net assets
$2,595,437
Revenue
$396,874
Expenses
$126,451
Net income
$270,423
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.87$0.00$6.86$1.07$0.17$0.90
2023Summary only. Only limited summary data is available for this year.$5.60$0.00$5.60$0.76$0.12$0.64
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.51$0.00$4.50$1.05$0.17$0.89
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.21$0.00$4.21$0.70$0.09$0.61
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.34$0.03$3.32$0.58$0.12$0.45
2019Detailed filing. Detailed filing data is available for this year.$2.60$0.00$2.60$0.40$0.13$0.27
2018Summary only. Only limited summary data is available for this year.$2.10$0.00$2.10$0.64$0.05$0.59
2017Summary only. Only limited summary data is available for this year.$1.63$0.00$1.63$0.37$0.05$0.32
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.23$0.00$1.23$0.93$0.06$0.87
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.37$0.00$0.37$0.38$0.01$0.37