Civic Intelligence

Potomac Swimming and Recreation Association Inc

990 • Fiscal year 2017 • EIN 52-0781544

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 05, 2018

Organization Profilewww.potomacswimandtennis.com
10531 Oaklyn DrivePotomac, MD 20854

(240) 498-2583

Siviq Scores

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

Liabilities / Assets

95th percentile

1.07x

Higher debt load relative to assets than 95% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

93rd percentile

3.68x

Higher debt load relative to revenue than 93% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2017

Net Margin

5th percentile

-22%

Higher net margin than 5% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

72nd percentile

$0

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2017

Asset Growth

28th percentile

-2.3%

Faster asset growth than 28% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

11th percentile

-12%

Faster revenue growth than 11% of similar nonprofits.

2017 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets95th percentile

Assets

Flat

$2,123,077

Flat from 2017

Net Assets

Flat

-$148,368

Flat from 2017

Liabilities

Flat

$2,271,445

Flat from 2017

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin5th percentile

Revenue

Flat

$617,817

Flat from 2017

Expenses

Flat

$754,110

Flat from 2017

Net Income

Flat

-$136,293

Flat from 2017

Historical Trend

Balance Sheet Trend

Asset Growth28th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $1,408,958Liabilities 2010: $778,934Net Assets 2010: $630,0242010Assets 2011: $2,251,047Liabilities 2011: $1,650,627Net Assets 2011: $600,4202011Assets 2012: $2,316,117Liabilities 2012: $1,867,705Net Assets 2012: $448,4122012Assets 2013: $2,449,609Liabilities 2013: $2,146,784Net Assets 2013: $302,8252013Assets 2014: $2,334,238Liabilities 2014: $2,108,733Net Assets 2014: $225,5052014Assets 2015: $2,265,441Liabilities 2015: $2,231,540Net Assets 2015: $33,9012015Assets 2016: $2,173,480Liabilities 2016: $2,185,555Net Assets 2016: -$12,0752016Assets 2017: $2,123,077Liabilities 2017: $2,271,445Net Assets 2017: -$148,3682017Assets 2017: $2,123,077Liabilities 2017: $2,271,445Net Assets 2017: -$148,3682017Assets 2018: $1,933,451Liabilities 2018: $2,213,173Net Assets 2018: -$279,7222018Assets 2019: $1,761,341Liabilities 2019: $2,154,329Net Assets 2019: -$392,9882019Assets 2020: $1,664,287Liabilities 2020: $2,100,079Net Assets 2020: -$435,7922020Assets 2021: $1,724,518Liabilities 2021: $1,971,863Net Assets 2021: -$247,3452021Assets 2022: $1,668,192Liabilities 2022: $1,988,261Net Assets 2022: -$320,0692022Assets 2023: $1,567,987Liabilities 2023: $1,954,392Net Assets 2023: -$386,4052023Assets 2024: $2,177,920Liabilities 2024: $2,313,870Net Assets 2024: -$135,9502024

Highlighted filing

2017

Assets$2,123,077
Liabilities$2,271,445
Net Assets-$148,368
Open 2017 Filing

Operations Trend

Revenue Growth11th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $275,2812010Expenses 2011: $268,5232011Expenses 2012: $550,4642012Revenue 2013: $592,103Expenses 2013: $737,690Net Income 2013: -$145,5872013Revenue 2014: $709,449Expenses 2014: $786,769Net Income 2014: -$77,3202014Revenue 2015: $668,160Expenses 2015: $859,764Net Income 2015: -$191,6042015Revenue 2016: $705,731Expenses 2016: $751,707Net Income 2016: -$45,9762016Revenue 2017: $617,817Expenses 2017: $754,110Net Income 2017: -$136,2932017Revenue 2017: $617,817Expenses 2017: $754,110Net Income 2017: -$136,2932017Revenue 2018: $615,811Expenses 2018: $747,165Net Income 2018: -$131,3542018Revenue 2019: $522,117Expenses 2019: $635,383Net Income 2019: -$113,2662019Revenue 2020: $447,030Expenses 2020: $489,834Net Income 2020: -$42,8042020Revenue 2021: $790,499Expenses 2021: $602,052Net Income 2021: $188,4472021Revenue 2022: $667,169Expenses 2022: $739,893Net Income 2022: -$72,7242022Revenue 2023: $605,968Expenses 2023: $672,304Net Income 2023: -$66,3362023Revenue 2024: $914,135Expenses 2024: $669,354Net Income 2024: $244,7812024

Highlighted filing

2017

Revenue$617,817
Expenses$754,110
Net Income-$136,293
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 5, 2018
Return Version
2017v2.2
Gross Receipts
$617,817
Mission and Program Overview

Mission

The Potomac Swimming and Recreation Association, Inc. is organized for the purpose of operating and maintaining a swimming pool and other recreational facilities for the promotion of the health, welfare and pleasure of its members and guests.

Operate a recreational facility to promote health, welfare and pleasure for its members and guests.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,121,349$1,994,396▼ $126,953
Accounts Receivable$2,014$80,900▲ $78,886
Cash and Non-Interest-Bearing Accounts$45,103$41,382▼ $3,721
Other Notes and Loans Receivable, Net$5,014$5,014→ $0
Prepaid Expenses and Deferred Charges-$1,385-
Total Assets$2,173,480$2,123,077▼ $50,403
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,141,831$2,130,416▼ $11,415
Accounts Payable and Accrued Expenses$43,724$141,029▲ $97,305
Total Liabilities$2,185,555$2,271,445▲ $85,890
Net Assets / Fund Balance
Temporarily Rstr Net Assets$725,604$725,604→ $0
Unrestricted Net Assets$-737,679$-873,972▼ $136,293
Total Net Assets Fund Balance$-12,075$-148,368▼ $136,293
Total Liabilities and Net Assets / Fund Balance$2,173,480$2,123,077▼ $50,403

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,954,979$1,230,633$3,185,612
Equipment$3,999$33,219$37,218
Land$34,760-$34,760
Other Land Buildings$658$20,159$20,817
Compensation and Service Providers
Top Officer Pay72nd percentile

Board Members and Trustees

NameTitle
Ted SearsPresident
Chris BugelVice President
Andrew ZettlerDirector- Building and Gro
Donna Petrocella Left 2017Director- Building and Gro
Mike BermanDirector- Pool Operations
Mike OsmanDirector- Special Projects
Rahul ShahDirector- Tennis
Eric GarySecretary/Director- Tennis
Barry BassTreasurer
Chuck BlessingsVP and Special Projects

Highest Paid Contractors

ContractorServicesLocationCompensation
Martin TennisTennis Program Mgmt5727 Kansas Ave NW, Washington, DC 20011$215,627
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$617,817
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-136,293
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$754,110
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other---$436,885
Depreciation Depletion---$131,090
Interest---$89,600
Occupancy---$39,557
Insurance---$14,392
Office Expenses---$8,343
Information Technology---$3,467
Fees for Services Accounting---$3,016
Other Expenses---$2,626
Advertising---$2,264
All Other Expenses---$2,192
Total Functional Expenses$0$0$0$754,110
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, line 3

“The organization has a contract with WTS International, Inc., who is responsible to hire the General Manager (GM) for the organization. However, the organizaation has the right to ask for the GM to be replaced if needed. WTS International, Inc. also handles all of the accounting responsibilities.”

Form 990, Part VI, Section A, line 6

“Membership in the Organization shall be extended to all persons, regardless of gender, race, religion or creed, whose application for membership is approved by the Board of Directors.”

Form 990, Part VI, Section A, line 7A

“Elections for members of the Board of Directors are conducted at the annual meeting of the Organization. Candidates for positions on the Board of Directors are determined by the Nominating Committee. Members of the Organization vote either in person or by proxy.”

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

“A draft of the federal Form 990, prepared by the Organization's CPA firm, is reviewed and approved by the Treasurer before the return is filed with the Internal Revenue Service.”

Form 990, Part VI, Section C, line 19

“Three years of the IRS federal Form 990 and all governing documents are available to the public upon written request and furnished via e-mail, USPS, or fax.”

Filing and Contact Details

Filer

Filer Name
Potomac Swimming and Recreation
EIN
52-0781544
Phone
2404982583
Address
10531 Oaklyn Drive, Potomac, MD 20854

Signing Officer

Name
Barry Bass
Title
Treasurer
Phone
2404982583
Signed
2018-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ted Sears
Formed
1980
Legal Domicile
Md
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
9

Preparer

Firm
Raffa PC
Address
1899 L Street NW Suite 900, Washington, DC 20036
Preparer
Frank H Smith
Phone
2028225000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Swim & dive coaches 20,470. Administrative cost 200,788. Tennis Instructors 215,627.”

Raw XML Appendix373 raw XML fields

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/Form990PartVIISectionAGrp/TitleTxt2Secretary/Director- Tennis
IRS990/Form990PartVIISectionAGrp/TitleTxt3VP and Special Projects
IRS990/Form990PartVIISectionAGrp/TitleTxt4Vice President
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director- Pool Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director- Building and Gro
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director- Special Projects
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director- Tennis
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director- Building and Gro
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IRS990/PYTotalRevenueAmt0705731
IRS990/ReconcilationRevenueExpnssAmt0-136293
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0246309
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt01954979
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01230633
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt03185612
IRS990ScheduleD/EquipmentGrp/BookValueAmt03999
IRS990ScheduleD/EquipmentGrp/DepreciationAmt033219
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt037218
IRS990ScheduleD/LandGrp/BookValueAmt034760
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt034760
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0658
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt020159
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt020817
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01994396
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization has a contract with WTS International, Inc., who is responsible to hire the General Manager (GM) for the organization. However, the organizaation has the right to ask for the GM to be replaced if needed. WTS International, Inc. also handles all of the accounting responsibilities.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Membership in the Organization shall be extended to all persons, regardless of gender, race, religion or creed, whose application for membership is approved by the Board of Directors.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Elections for members of the Board of Directors are conducted at the annual meeting of the Organization. Candidates for positions on the Board of Directors are determined by the Nominating Committee. Members of the Organization vote either in person or by proxy.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A draft of the federal Form 990, prepared by the Organization's CPA firm, is reviewed and approved by the Treasurer before the return is filed with the Internal Revenue Service.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Three years of the IRS federal Form 990 and all governing documents are available to the public upon written request and furnished via e-mail, USPS, or fax.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Swim & dive coaches 20,470. Administrative cost 200,788. Tennis Instructors 215,627.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, line 11g
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MD
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0725604
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt0725604
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt02173480
IRS990/TotalAssetsEOYAmt02123077
IRS990/TotalAssetsGrp/BOYAmt02173480
IRS990/TotalAssetsGrp/EOYAmt02123077
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0754110
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02185555
IRS990/TotalLiabilitiesEOYAmt02271445
IRS990/TotalLiabilitiesGrp/BOYAmt02185555
IRS990/TotalLiabilitiesGrp/EOYAmt02271445
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-12075
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-148368
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0436025
IRS990/TotalProgramServiceRevenueAmt0617817
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0617817
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0617817
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt09
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02173480
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02123077
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-737679
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-873972
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt010531 Oaklyn Drive
IRS990/USAddress/CityNm0Potomac
IRS990/USAddress/StateAbbreviationCd0MD
IRS990/USAddress/ZIPCd020854
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0www.potomacswimandtennis.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Barry Bass
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Treasurer
ReturnHeader/BusinessOfficerGrp/PhoneNum02404982583
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-05
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Potomac Swimming and Recreation
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0Association Inc
ReturnHeader/Filer/BusinessNameControlTxt0POTO
ReturnHeader/Filer/EIN0520781544
ReturnHeader/Filer/PhoneNum02404982583
ReturnHeader/Filer/USAddress/AddressLine1Txt010531 Oaklyn Drive
ReturnHeader/Filer/USAddress/CityNm0Potomac
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd020854
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F2B31D8291DB5AC8F32E1CBE33F80AF33B37912D
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId06F0C7B7B33521E2C29916EF55CD8B4C9BD24C3C8
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0108.31.144.138
ReturnHeader/FilingSecurityInformation/IPDt02018-11-05
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm014:32:56
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0521511275
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Raffa PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01899 L Street NW Suite 900
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Washington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020036
ReturnHeader/PreparerPersonGrp/PhoneNum02028225000
ReturnHeader/PreparerPersonGrp/PreparationDt02018-10-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Frank H Smith
ReturnHeader/ReturnTs02018-11-06T07:07:32-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-01-01
ReturnHeader/TaxPeriodEndDt02017-12-31
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,123,077
Liabilities
$2,271,445
Net assets
-$148,368
Revenue
$617,817
Expenses
$754,110
Net income
-$136,293
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.18$2.31$0.14$0.91$0.67$0.24
2023Summary only. Only limited summary data is available for this year.$1.57$1.95$0.39$0.61$0.67$0.07
2022Summary only. Only limited summary data is available for this year.$1.67$1.99$0.32$0.67$0.74$0.07
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.72$1.97$0.25$0.79$0.60$0.19
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.66$2.10$0.44$0.45$0.49$0.04
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.76$2.15$0.39$0.52$0.64$0.11
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.93$2.21$0.28$0.62$0.75$0.13
2017Detailed filing. Detailed filing data is available for this year.$2.12$2.27$0.15$0.62$0.75$0.14
2017Summary only. Only limited summary data is available for this year.$2.12$2.27$0.15$0.62$0.75$0.14
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.17$2.19$0.01$0.71$0.75$0.05
2015Detailed filing. Detailed filing data is available for this year.$2.27$2.23$0.03$0.67$0.86$0.19
2014Summary only. Only limited summary data is available for this year.$2.33$2.11$0.23$0.71$0.79$0.08
2013Summary only. Only limited summary data is available for this year.$2.45$2.15$0.30$0.59$0.74$0.15
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.32$1.87$0.45$0.55
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.25$1.65$0.60$0.27
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.41$0.78$0.63$0.28