Civic Intelligence

Maryland Economic Development Association Inc (Meda)

990 • Fiscal year 2020 • EIN 52-2242009

Jan 01, 2020 to Dec 31, 2020 • Filed on Mar 03, 2021

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

57th percentile

0.02x

Higher debt load relative to assets than 57% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

62nd percentile

0.03x

Higher debt load relative to revenue than 62% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Net Margin

64th percentile

12%

Higher net margin than 64% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2020 filings • 501(c)6 • <$500k nonprofits • Source year 2020

Asset Growth

55th percentile

5.7%

Faster asset growth than 55% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

71st percentile

-4.3%

Faster revenue growth than 71% of similar nonprofits.

2020 filings • 501(c)6 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets57th percentile

Assets

Up

$404,442

Up $21,761 (+5.7%) from 2019

Net Assets

Up

$397,500

Up $24,101 (+6.5%) from 2019

Liabilities

Down

$6,942

Down $2,340 (-25%) from 2019

Revenue And Expenses
Liabilities / Revenue62nd percentileNet Margin64th percentile

Revenue

Down

$208,985

Down $9,305 (-4.3%) from 2019

Expenses

Up

$184,884

Up $11,191 (+6.4%) from 2019

Net Income

Down

$24,101

Down $20,496 (-46%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth55th 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

2020

Assets$404,442
Liabilities$6,942
Net Assets$397,500
Open 2020 Filing

Operations Trend

Revenue Growth71st 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

2020

Revenue$208,985
Expenses$184,884
Net Income$24,101
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Mar 3, 2021
Return Version
2020v4.0
Gross Receipts
$208,985
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$201,583$232,142▲ $30,559
Cash and Non-Interest-Bearing Accounts$92,255$86,204▼ $6,051
Savings and Temporary Cash Investments$50,446$50,482▲ $36
Accounts Receivable$25,350$25,700▲ $350
Land, Buildings, and Equipment, Net$13,047$9,914▼ $3,133
Total Assets$382,681$404,442▲ $21,761
Liabilities
Accounts Payable and Accrued Expenses$9,282$6,942▼ $2,340
Total Liabilities$9,282$6,942▼ $2,340
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$373,399$397,500▲ $24,101
Total Net Assets Fund Balance$373,399$397,500▲ $24,101
Total Liabilities and Net Assets / Fund Balance$382,681$404,442▲ $21,761

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$9,169$19,177$28,346
Equipment$745$2,946$3,691
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
Heather GrammPresident
Andrea MansfieldDirector
Denise BeaverDirector
Ebony StocksDirector
Fabian WaltersDirector
Jamie WilliamsDirector
John WasilisinDirector
Kelly Robertson-slagleDirector
Lucas CadeDirector
N Gordon KnoxDirector
Renee WinskyDirector
Rhonda RayDirector
Trish HeidenreichDirector
Kimberly ClarkImmediate Pa
Richard GriffinSecretary
Stephen PrimoschTreasurer
Daniel ThompsonVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$58,250
Program Service Revenue
$150,700
Investment Income
$35
Other Revenue
$0
Change in Net Assets
$24,101
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$132,843
Other Expenses$52,041
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$109,385$12,154-$121,539
Payroll Taxes$10,174$1,130-$11,304
Fees for Services Other$7,714$2,571-$10,285
Information Technology$6,845$1,711-$8,556
Fees for Services Accounting$2,201$944-$3,145
Depreciation Depletion$2,820$314-$3,134
Office Expenses$2,164$541-$2,705
Insurance$2,426$270-$2,696
Conferences and Meetings$747$83-$830
Other Expenses$595$149-$744
Travel$371$93-$464
All Other Expenses$379--$379
Total Functional Expenses$164,046$20,838$0$184,884
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
2021-03-03
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/OtherExpensesGrp/TotalAmt13720
IRS990/OtherExpensesGrp/TotalAmt21344
IRS990/OtherExpensesGrp/TotalAmt3744
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt012154
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0109385
IRS990/OtherSalariesAndWagesGrp/TotalAmt0121539
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0201583
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt0232142
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01130
IRS990/PayrollTaxesGrp/ProgramServicesAmt010174
IRS990/PayrollTaxesGrp/TotalAmt011304
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0HEATHER GRAMM
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0150700
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0150700
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.
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt048150
IRS990/PYInvestmentIncomeAmt040
IRS990/PYOtherExpensesAmt051523
IRS990/PYProgramServiceRevenueAmt0170100
IRS990/PYRevenuesLessExpensesAmt044597
IRS990/PYSalariesCompEmpBnftPaidAmt0122170
IRS990/PYTotalExpensesAmt0173693
IRS990/PYTotalRevenueAmt0218290
IRS990/ReconcilationRevenueExpnssAmt024101
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0150700
IRS990/SavingsAndTempCashInvstGrp/BOYAmt050446
IRS990/SavingsAndTempCashInvstGrp/EOYAmt050482
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt0745
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02946
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt03691
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt09169
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt019177
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt028346
IRS990ScheduleD/TotalBookValueLandBuildingsAmt09914
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
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0382681
IRS990/TotalAssetsEOYAmt0404442
IRS990/TotalAssetsGrp/BOYAmt0382681
IRS990/TotalAssetsGrp/EOYAmt0404442
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt058250
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt020838
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0164046
IRS990/TotalFunctionalExpensesGrp/TotalAmt0184884
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt09282
IRS990/TotalLiabilitiesEOYAmt06942
IRS990/TotalLiabilitiesGrp/BOYAmt09282
IRS990/TotalLiabilitiesGrp/EOYAmt06942
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0373399
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0397500
IRS990/TotalProgramServiceExpensesAmt0164046
IRS990/TotalProgramServiceRevenueAmt0150700
IRS990/TotalRevenueGrp/ExclusionAmt035
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0150700
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0208985
IRS990/TotalVolunteersCnt020
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0382681
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0404442
IRS990/TravelGrp/ManagementAndGeneralAmt093
IRS990/TravelGrp/ProgramServicesAmt0371
IRS990/TravelGrp/TotalAmt0464
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt017
IRS990/VotingMembersIndependentCnt017
IRS990/WebsiteAddressTxt0WWW.MEDAMD.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0STEPHEN PRIMOSCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum04103471246
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-03-03
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/PreparerFirmGrp/PreparerFirmEIN0522223052
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0P C FINANCIAL SERVICES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0P O BOX 1003
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MILLERSVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd021108
ReturnHeader/PreparerPersonGrp/PhoneNum04107290618
ReturnHeader/PreparerPersonGrp/PreparationDt02021-03-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LYNNE E CHAPUT CPA
ReturnHeader/ReturnTs02021-05-03T17:57:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0STEPHEN
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0PRIMOSCH
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$404,442
Liabilities
$6,942
Net assets
$397,500
Revenue
$208,985
Expenses
$184,884
Net income
$24,101
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