Civic Intelligence

Maryland Economic Development Association Inc (Meda)

990 • Fiscal year 2019 • EIN 52-2242009

Jan 01, 2019 to Dec 31, 2019 • Filed on Feb 03, 2020

Organization ProfileWWW.MEDAMD.COM
PO Box 27039Baltimore, MD 21230

(410) 347-1246

Siviq Scores

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

Liabilities / Assets

61st percentile

0.02x

Higher debt load relative to assets than 61% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

70th percentile

0.04x

Higher debt load relative to revenue than 70% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Net Margin

84th percentile

20%

Higher net margin than 84% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Top Officer Pay

71st percentile

$0

Higher top officer pay than 71% of similar nonprofits.

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

2019 filings • 501(c)6 • <$500k nonprofits • Source year 2019

Asset Growth

60th percentile

7.8%

Faster asset growth than 60% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

68th percentile

9.9%

Faster revenue growth than 68% of similar nonprofits.

2019 filings • 501(c)6 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$382,681

Up $27,587 (+7.8%) from 2018

Net Assets

Up

$373,399

Up $44,597 (+14%) from 2018

Liabilities

Down

$9,282

Down $17,010 (-65%) from 2018

Revenue And Expenses
Liabilities / Revenue70th percentileNet Margin84th percentile

Revenue

Up

$218,290

Up $19,608 (+9.9%) from 2018

Expenses

Down

$173,693

Down $19,651 (-10%) from 2018

Net Income

Up

$44,597

Up $39,259 (+735%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth60th percentile

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

$600K$400K$200K$0Assets 2010: $312,638Liabilities 2010: $22,274Net Assets 2010: $290,3642010Assets 2011: $261,559Liabilities 2011: $8,706Net Assets 2011: $252,8532011Assets 2012: $281,296Liabilities 2012: $24,205Net Assets 2012: $257,0912012Assets 2013: $300,825Liabilities 2013: $18,590Net Assets 2013: $282,2352013Assets 2014: $324,146Liabilities 2014: $11,560Net Assets 2014: $312,5862014Assets 2015: $330,058Liabilities 2015: $10,206Net Assets 2015: $319,8522015Assets 2016: $332,265Liabilities 2016: $11,930Net Assets 2016: $320,3352016Assets 2017: $335,400Liabilities 2017: $11,936Net Assets 2017: $323,4642017Assets 2018: $355,094Liabilities 2018: $26,292Net Assets 2018: $328,8022018Assets 2019: $382,681Liabilities 2019: $9,282Net Assets 2019: $373,3992019Assets 2020: $404,442Liabilities 2020: $6,942Net Assets 2020: $397,5002020Assets 2021: $426,691Liabilities 2021: $6,640Net Assets 2021: $420,0512021Assets 2022: $448,117Liabilities 2022: $13,451Net Assets 2022: $434,6662022Assets 2023: $470,929Liabilities 2023: $6,642Net Assets 2023: $464,2872023Assets 2024: $431,599Liabilities 2024: $9,975Net Assets 2024: $421,6242024

Highlighted filing

2019

Assets$382,681
Liabilities$9,282
Net Assets$373,399
Open 2019 Filing

Operations Trend

Revenue Growth68th percentile

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

$400K$300K$200K$100K$0Expenses 2010: $122,5432010Expenses 2011: $130,4402011Expenses 2012: $153,7352012Revenue 2013: $174,380Expenses 2013: $149,236Net Income 2013: $25,1442013Revenue 2014: $173,283Expenses 2014: $142,932Net Income 2014: $30,3512014Revenue 2015: $162,125Expenses 2015: $154,859Net Income 2015: $7,2662015Revenue 2016: $177,065Expenses 2016: $164,352Net Income 2016: $12,7132016Revenue 2017: $191,315Expenses 2017: $171,747Net Income 2017: $19,5682017Revenue 2018: $198,682Expenses 2018: $193,344Net Income 2018: $5,3382018Revenue 2019: $218,290Expenses 2019: $173,693Net Income 2019: $44,5972019Revenue 2020: $208,985Expenses 2020: $184,884Net Income 2020: $24,1012020Revenue 2021: $239,005Expenses 2021: $216,454Net Income 2021: $22,5512021Revenue 2022: $258,416Expenses 2022: $228,037Net Income 2022: $30,3792022Revenue 2023: $278,201Expenses 2023: $239,037Net Income 2023: $39,1642023Revenue 2024: $300,763Expenses 2024: $289,821Net Income 2024: $10,9422024

Highlighted filing

2019

Revenue$218,290
Expenses$173,693
Net Income$44,597
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Feb 3, 2020
Return Version
2019v5.0
Gross Receipts
$218,290
Mission and Program Overview

Mission

A statewide organization of economic development professionals who promote economic well-being in maryland by working to improve the business climate and professionalism in the field of econ developmt.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$207,311$201,583▼ $5,728
Cash and Non-Interest-Bearing Accounts$81,388$92,255▲ $10,867
Savings and Temporary Cash Investments$50,406$50,446▲ $40
Accounts Receivable$1,250$25,350▲ $24,100
Land, Buildings, and Equipment, Net$14,739$13,047▼ $1,692
Total Assets$355,094$382,681▲ $27,587
Liabilities
Accounts Payable and Accrued Expenses$21,192$9,282▼ $11,910
Deferred Revenue$5,100--
Total Liabilities$26,292$9,282▼ $17,010
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$328,802$373,399▲ $44,597
Total Net Assets Fund Balance$328,802$373,399▲ $44,597
Total Liabilities and Net Assets / Fund Balance$355,094$382,681▲ $27,587

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$12,003$16,343$28,346
Equipment$1,044$2,647$3,691
Compensation and Service Providers
Top Officer Pay71st percentile

Board Members and Trustees

NameTitle
Heather GrammPresident
Andrea MansfieldDirector
Daraius IraniDirector
Denise BeaverDirector
John WasilisinDirector
Kelly Robertson-slagleDirector
Kiesha HaughtonDirector
Lisa WebbDirector
Lucas CadeDirector
N Gordon CoxDirector
Renee WinskyDirector
Rhonda RayDirector
Trish HeidenreichDirector
Kimberly ClarkImmediate Pa
Richard GriffinSecretary
Stephen PrimoschTreasurer
Daniel ThompsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$48,150
Program Service Revenue
$170,100
Investment Income
$40
Other Revenue
$0
Change in Net Assets
$44,597
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$122,170
Other Expenses$51,523
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$100,108$11,123-$111,231
Payroll Taxes$9,845$1,094-$10,939
Fees for Services Other$6,097$2,033-$8,130
Information Technology$4,309$1,077-$5,386
Travel$3,689$922-$4,611
Depreciation Depletion$2,819$314-$3,133
Fees for Services Accounting$2,016$864-$2,880
Insurance$2,475$275-$2,750
Office Expenses$1,613$403-$2,016
Conferences and Meetings$1,592$177-$1,769
Other Expenses$1,277$319-$1,596
All Other Expenses$928$103-$1,031
Total Functional Expenses$154,446$19,247$0$173,693
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
Annual disclosure for covered persons
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
Yes
Management duties delegated
No

Governance Explanations

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

“Election of officers is subject to the approval of membership.”

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

“All bylaw changes are subject to the approval of the membership.”

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

“Treasurer/financial officer review form 990 with board of directors.”

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

“The executive committee reviews and approves the compensation of the executive director on an annual basis.”

Form 990, Page 6, Part VI, Line 19

“The governing documents and financial statements are available upon request at the organization's office.”

Filing and Contact Details

Filer

Filer Name
Maryland Economic Development
EIN
52-2242009
Phone
4103471246
Address
PO BOX 27039, BALTIMORE, MD 21230

Signing Officer

Name
Stephen Primosch
Title
Treasurer
Phone
4103471246
Signed
2020-02-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Heather Gramm
Formed
1999
Legal Domicile
Md
Voting Board Members
17
Independent Board Members
17
Employees
2
Volunteers
20

Preparer

Firm
P C Financial Services LLC
Address
P O BOX 1003, MILLERSVILLE, MD 21108
Preparer
Lynne E Chaput CPA
Phone
4107290618
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Part I, Line 6

“Volunteers assist with conferences, activities, committees and board positions.”

Form 990, Page 2, Part III, Line 4D

“Opportunities for members to develop partnerships and networking to promote economic growth in the state of maryland through local planning, workforce, transportation, international trade, tourism and finance.”

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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetAssetsOrFundBalancesEOYAmt0373399
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IRS990/OfficeExpensesGrp/ProgramServicesAmt01613
IRS990/OfficeExpensesGrp/TotalAmt02016
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherExpensesGrp/Desc0MARKETING & COMMUNICATION
IRS990/OtherExpensesGrp/Desc1TELEPHONE/FAX
IRS990/OtherExpensesGrp/Desc2MEMBER MEETING EXPENSES
IRS990/OtherExpensesGrp/Desc3MEMBER SERVICES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1319
IRS990/OtherExpensesGrp/ProgramServicesAmt013000
IRS990/OtherExpensesGrp/ProgramServicesAmt12171
IRS990/OtherExpensesGrp/ProgramServicesAmt22507
IRS990/OtherExpensesGrp/ProgramServicesAmt31277
IRS990/OtherExpensesGrp/TotalAmt013000
IRS990/OtherExpensesGrp/TotalAmt12714
IRS990/OtherExpensesGrp/TotalAmt22507
IRS990/OtherExpensesGrp/TotalAmt31596
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IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0100108
IRS990/OtherSalariesAndWagesGrp/TotalAmt0111231
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0207311
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0201583
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01094
IRS990/PayrollTaxesGrp/ProgramServicesAmt09845
IRS990/PayrollTaxesGrp/TotalAmt010939
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0HEATHER GRAMM
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0170100
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0170100
IRS990/ProgSrvcAccomActyOtherGrp/Desc0OPPORTUNITIES FOR MEMBERS TO DEVELOP PARTNERSHIPS AND NETWORKING TO PROMOTE ECONOMIC GROWTH IN THE STATE OF MARYLAND THROUGH LOCAL PLANNING, WORKFORCE, TRANSPORTATION, INTERNATIONAL TRADE, TOURISM AND FINANCE.
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IRS990/PYInvestmentIncomeAmt040
IRS990/PYOtherExpensesAmt058126
IRS990/PYProgramServiceRevenueAmt0146511
IRS990/PYRevenuesLessExpensesAmt05338
IRS990/PYSalariesCompEmpBnftPaidAmt0135218
IRS990/PYTotalExpensesAmt0193344
IRS990/PYTotalRevenueAmt0198682
IRS990/ReconcilationRevenueExpnssAmt044597
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IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03691
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt016343
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt028346
IRS990ScheduleD/TotalBookValueLandBuildingsAmt013047
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0VOLUNTEERS ASSIST WITH CONFERENCES, ACTIVITIES, COMMITTEES AND BOARD POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1OPPORTUNITIES FOR MEMBERS TO DEVELOP PARTNERSHIPS AND NETWORKING TO PROMOTE ECONOMIC GROWTH IN THE STATE OF MARYLAND THROUGH LOCAL PLANNING, WORKFORCE, TRANSPORTATION, INTERNATIONAL TRADE, TOURISM AND FINANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ELECTION OF OFFICERS IS SUBJECT TO THE APPROVAL OF MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL BYLAW CHANGES ARE SUBJECT TO THE APPROVAL OF THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4TREASURER/FINANCIAL OFFICER REVIEW FORM 990 WITH BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE EXECUTIVE COMMITTEE REVIEWS AND APPROVES THE COMPENSATION OF THE EXECUTIVE DIRECTOR ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 1, PART I, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 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/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0355094
IRS990/TotalAssetsEOYAmt0382681
IRS990/TotalAssetsGrp/BOYAmt0355094
IRS990/TotalAssetsGrp/EOYAmt0382681
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt048150
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0154446
IRS990/TotalFunctionalExpensesGrp/TotalAmt0173693
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt026292
IRS990/TotalLiabilitiesEOYAmt09282
IRS990/TotalLiabilitiesGrp/BOYAmt026292
IRS990/TotalLiabilitiesGrp/EOYAmt09282
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0328802
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IRS990/TotalProgramServiceExpensesAmt0154446
IRS990/TotalProgramServiceRevenueAmt0170100
IRS990/TotalRevenueGrp/ExclusionAmt040
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0170100
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0218290
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0355094
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0382681
IRS990/TravelGrp/ManagementAndGeneralAmt0922
IRS990/TravelGrp/ProgramServicesAmt03689
IRS990/TravelGrp/TotalAmt04611
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0WWW.MEDAMD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-09-23 17:36:50Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN PRIMOSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04103471246
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-02-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0MARYLAND ECONOMIC DEVELOPMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION INC (MEDA)
ReturnHeader/Filer/BusinessNameControlTxt0MARY
ReturnHeader/Filer/EIN0522242009
ReturnHeader/Filer/PhoneNum04103471246
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 27039
ReturnHeader/Filer/USAddress/CityNm0BALTIMORE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MD
ReturnHeader/Filer/USAddress/ZIPCd021230
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId00B4174750A9460802F02A542A90D3532E7A6A808
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId00B4174750A9460802F02A542A90D3532E7A6A808
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0100.16.168.173
ReturnHeader/FilingSecurityInformation/IPDt02020-05-25
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$382,681
Liabilities
$9,282
Net assets
$373,399
Revenue
$218,290
Expenses
$173,693
Net income
$44,597
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.32$0.10$4.22$3.01$2.90$0.11
2023Detailed filing. Detailed filing data is available for this year.$4.71$0.07$4.64$2.78$2.39$0.39
2022Detailed filing. Detailed filing data is available for this year.$4.48$0.13$4.35$2.58$2.28$0.30
2021Detailed filing. Detailed filing data is available for this year.$4.27$0.07$4.20$2.39$2.16$0.23
2020Detailed filing. Detailed filing data is available for this year.$4.04$0.07$3.98$2.09$1.85$0.24
2019Detailed filing. Detailed filing data is available for this year.$3.83$0.09$3.73$2.18$1.74$0.45
2018Detailed filing. Detailed filing data is available for this year.$3.55$0.26$3.29$1.99$1.93$0.05
2017Detailed filing. Detailed filing data is available for this year.$3.35$0.12$3.23$1.91$1.72$0.20
2016Detailed filing. Detailed filing data is available for this year.$3.32$0.12$3.20$1.77$1.64$0.13
2015Detailed filing. Detailed filing data is available for this year.$3.30$0.10$3.20$1.62$1.55$0.07
2014Detailed filing. Detailed filing data is available for this year.$3.24$0.12$3.13$1.73$1.43$0.30
2013Detailed filing. Detailed filing data is available for this year.$3.01$0.19$2.82$1.74$1.49$0.25
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.81$0.24$2.57$1.54
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.62$0.09$2.53$1.30
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.13$0.22$2.90$1.23