Civic Intelligence

Holton-Arms School Inc.

990 • Fiscal year 2017 • EIN 53-0196507

Jul 01, 2016 to Jun 30, 2017 • Filed on Apr 26, 2018

7303 River RoadBethesda, MD 20817

(301) 365-5300

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.33x

Higher debt load relative to assets than 53% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

71st percentile

0.96x

Higher debt load relative to revenue than 71% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

48th percentile

3.1%

Higher net margin than 48% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

66th percentile

$680,016

Higher top officer pay than 66% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

52nd percentile

6.5%

Faster asset growth than 52% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

62nd percentile

8.8%

Faster revenue growth than 62% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Up

$106,281,066

Up $6,490,823 (+6.5%) from 2016

Net Assets

Up

$70,903,363

Up $5,360,578 (+8.2%) from 2016

Liabilities

Up

$35,377,703

Up $1,130,245 (+3.3%) from 2016

Revenue

Up

$36,896,154

Up $2,975,803 (+8.8%) from 2016

Expenses

Up

$35,759,384

Up $1,639,015 (+4.8%) from 2016

Net Income

Up

$1,136,770

Up $1,336,788 (+668%) from 2016

Historical Trend

Balance Sheet Trend

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

$150M$100M$50M$0Assets 2010: $88,635,604Liabilities 2010: $31,900,493Net Assets 2010: $56,735,1112010Assets 2011: $95,217,036Liabilities 2011: $32,191,133Net Assets 2011: $63,025,9032011Assets 2012: $92,507,358Liabilities 2012: $32,287,429Net Assets 2012: $60,219,9292012Assets 2013: $99,779,652Liabilities 2013: $36,226,415Net Assets 2013: $63,553,2372013Assets 2014: $100,006,016Liabilities 2014: $31,023,968Net Assets 2014: $68,982,0482014Assets 2015: $101,497,868Liabilities 2015: $33,547,463Net Assets 2015: $67,950,4052015Assets 2016: $99,790,243Liabilities 2016: $34,247,458Net Assets 2016: $65,542,7852016Assets 2017: $106,281,066Liabilities 2017: $35,377,703Net Assets 2017: $70,903,3632017Assets 2018: $108,773,793Liabilities 2018: $36,136,123Net Assets 2018: $72,637,6702018Assets 2019: $107,704,045Liabilities 2019: $34,592,368Net Assets 2019: $73,111,6772019Assets 2020: $100,025,198Liabilities 2020: $28,292,833Net Assets 2020: $71,732,3652020Assets 2021: $133,918,121Liabilities 2021: $51,612,008Net Assets 2021: $82,306,1132021Assets 2022: $129,884,034Liabilities 2022: $52,912,485Net Assets 2022: $76,971,5492022Assets 2023: $137,236,028Liabilities 2023: $54,464,300Net Assets 2023: $82,771,7282023Assets 2024: $147,765,104Liabilities 2024: $59,156,433Net Assets 2024: $88,608,6712024

Highlighted filing

2017

Assets$106,281,066
Liabilities$35,377,703
Net Assets$70,903,363

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2010: $26,155,7672010Expenses 2011: $27,549,1292011Expenses 2012: $28,733,2732012Expenses 2013: $30,455,6402013Revenue 2014: $33,411,280Expenses 2014: $31,198,497Net Income 2014: $2,212,7832014Revenue 2015: $31,817,665Expenses 2015: $32,371,368Net Income 2015: -$553,7032015Revenue 2016: $33,920,351Expenses 2016: $34,120,369Net Income 2016: -$200,0182016Revenue 2017: $36,896,154Expenses 2017: $35,759,384Net Income 2017: $1,136,7702017Revenue 2018: $38,616,269Expenses 2018: $37,056,008Net Income 2018: $1,560,2612018Revenue 2019: $39,622,597Expenses 2019: $38,341,347Net Income 2019: $1,281,2502019Revenue 2020: $38,420,148Expenses 2020: $38,392,141Net Income 2020: $28,0072020Revenue 2021: $38,119,997Expenses 2021: $36,911,169Net Income 2021: $1,208,8282021Revenue 2022: $42,118,292Expenses 2022: $40,136,689Net Income 2022: $1,981,6032022Revenue 2023: $46,133,108Expenses 2023: $41,823,420Net Income 2023: $4,309,6882023Revenue 2024: $45,871,788Expenses 2024: $44,747,979Net Income 2024: $1,123,8092024

Highlighted filing

2017

Revenue$36,896,154
Expenses$35,759,384
Net Income$1,136,770
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Apr 26, 2018
Return Version
2016v3.0
Gross Receipts
$50,099,175
Mission and Program Overview

Mission

The mission of the holton-arms school is to cultivate the unique potential of young women through the "education not only of the mind, but of the soul and spirit".

A private educational institution for girls in grades three through twelve.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$34,629,859$37,810,323▲ $3,180,464
Land, Buildings, and Equipment, Net$35,853,809$35,163,875▼ $689,934
Investments Other Securities$14,430,695$15,231,689▲ $800,994
Savings and Temporary Cash Investments$11,792,793$13,385,620▲ $1,592,827
Pledges and Grants Receivable$1,621,005$3,498,001▲ $1,876,996
Prepaid Expenses and Deferred Charges$980,853$964,408▼ $16,445
Accounts Receivable$38,225$79,081▲ $40,856
Inventories for Sale or Use$32,165$39,861▲ $7,696
Cash and Non-Interest-Bearing Accounts$22,333$5,809▼ $16,524
Total Assets$99,437,377$106,281,066▲ $6,843,689
Other Assets Total$35,640$102,399▲ $66,759
Liabilities
Tax Exempt Bond Liabilities$20,992,647$20,692,469▼ $300,178
Deferred Revenue$9,795,547$11,315,966▲ $1,520,419
Accounts Payable and Accrued Expenses$2,395,031$2,569,917▲ $174,886
Other Liabilities$711,367$799,351▲ $87,984
Total Liabilities$33,894,592$35,377,703▲ $1,483,111
Net Assets / Fund Balance
Unrestricted Net Assets$55,819,871$58,251,852▲ $2,431,981
Permanently Rstr Net Assets$7,343,964$9,571,744▲ $2,227,780
Temporarily Rstr Net Assets$2,378,950$3,079,767▲ $700,817
Total Net Assets Fund Balance$65,542,785$70,903,363▲ $5,360,578
Total Liabilities and Net Assets / Fund Balance$99,437,377$106,281,066▲ $6,843,689

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$29,092,755$34,041,364$63,134,119
Equipment$983,533$5,275,705$6,259,238
Other Land Buildings$1,125,774$3,277,237$4,403,011
Land$3,961,813-$3,961,813
Closely Held Equity Interests$15,231,689--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$46,665,431$3,433,124▲ $6,107,261$3,451,381$52,754,435
2015$47,186,347$5,073,597▼ $1,571,024$4,023,489$46,665,431
2014$49,421,773$1,515,265▲ $757,948$4,508,639$47,186,347
2013$47,786,443$1,176,499▲ $8,161,965$7,703,134$49,421,773
2012$43,914,123$1,240,405▲ $6,135,241$3,503,326$47,786,443
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Susanna A JonesHead of SchoolFT$400,326$286,843$687,169
Tracey L FudgeDirector, Finance & OperationsFT$243,116$30,584$273,700
Julie E TreadwellDirector, Physical edu. & AthleticsFT$138,221$67,253$205,474
Angela WillinghamDirector, Institutional Adv.FT$186,101$15,464$201,565
Sharron K RodgersDirector, EnrollmentFT$163,197$34,223$197,420
Michael P JoyceDirector, FacilitiesFT$147,756$22,870$170,626
Patrick Martin BaneDirector, Lower SchoolFT$148,017$12,375$160,392

Highest Paid Contractors

ContractorServicesLocationCompensation
Meriwether Godseyfood service4944 Old Boonsboro Road, Lynchburg, VA 24503$1,072,523
Cleaners of Americajanitorial services3710 General Washington Drive Suite, alexandria, VA 22312$350,397
Interstate CorporationRoofing16031 Industrial Drive, Gaithersburg, MD 20877$229,367
CoughlinBus Transportation7961 Queenair Drive, Gaithersburg, MD 20879$169,652
The Stonehouse Groupfacilities management301 Broadway Suite 400, bethlehem, PA 18015$152,555
Revenue and Support

Revenue Composition

Contributions and Grants
$4,148,375
Program Service Revenue
$30,153,484
Investment Income
$2,045,657
Other Revenue
$548,638
All Other Contributions
$4,148,375
Change in Net Assets
$1,136,770

Noncash Contribution Practices

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

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded24$92,547Fair Market Value (FMV)
Total Noncash Contributions24$92,547-

Audited Revenue Reconciliation

Revenue per Audited Statements
$36,962,657
Revenue Not Reported on Financial Statements
$-66,503
Revenue Not Reported on Form 990
$-3,573,801
Other Revenue Adjustments
$-228,706
Total Revenue per Audited Statements
$33,388,856
Total Revenue per Form 990
$36,896,154
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$20,327,844
Other Expenses$11,429,908
Grants and Similar Amounts Paid$4,001,632
Total Fundraising Expense$1,663,835
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$12,899,391$1,868,624$816,818$15,584,833
Grants to Domestic Individuals$4,001,632--$4,001,632
Depreciation Depletion$1,780,006$392,988$138,702$2,311,696
Occupancy$2,186,647$57,566-$2,244,213
Other Employee Benefits$1,573,481-$101,170$1,674,651
Payroll Taxes$1,171,502--$1,171,502
Pension Plan Contributions$1,043,341--$1,043,341
All Other Expenses$342,582$567,156-$909,738
Interest-$875,452-$875,452
Current Officers, Directors, Trustees, and Key Employees$143,355$566,807$143,355$853,517
Other Expenses$760,002$6,757$442,533$442,533
Travel$349,877$10,822$21,257$381,956
Advertising-$275,674-$275,674
Insurance-$264,324-$264,324
Information Technology$241,312--$241,312
Fees for Service Investment Mgmnt Fees-$162,203-$162,203
Office Expenses$59,630$89,240-$148,870
Fees for Services Other-$87,913-$87,913
Fees for Services Accounting-$75,406-$75,406
Fees for Services Legal-$32,174-$32,174
Total Functional Expenses$28,762,443$5,333,106$1,663,835$35,759,384

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$35,759,384
Total Expenses per Audited Statements$32,252,086
Expenses per Audited Statements$32,023,380
Expenses Not Reported on Financial Statements$3,736,004
Other Expense Adjustments$3,573,801
Expenses Not Reported on Form 990$228,706
International Activity

International Summary

Offices
0
Employees
0
Spending
$10,200,730

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
Central America and the CaribbeanInvestments-00$9,994,772
South AsiaProgram servicesglobal education - india00$89,291
South AmericaProgram servicesGlobal Education - Peru00$46,065
Europe (Including Iceland & Greenland)program servicesLanguage Immersion - France & Spain00$42,825
East Asia and the PacificProgram ServicesGLOBAL EDUCATION - China00$27,382
Central America and the Caribbeanprogram servicesGlobal Education - Belize00$395
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$238,614
Fundraising Direct Expenses$110,421
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Auction$238,614$238,614$110,421$128,193
Total Events$238,614$238,614$110,421$128,193
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Others$696,952
Deferred Compensation$102,399

Bond Issues

BondIssuerIssuedIssue PricePurpose
AEconomic Development Revenue Bonds (HOLTON-ARMS SCHOOL PROJECT) SERIES 20152015-06-17$21,352,201To retire 2002 series bond & provide financing for school capital projects

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$21,352,201$18,352,201$310,000-

Bond Financing Compliance

No rebate due
No
Rebate not yet due
Yes
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
No
Corrective action procedures
Yes
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 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
Yes
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, Section B, line 11B

Before the 990 is filed it will go through a number of reviews. 1. It will be presented to the Audit Committee and reviewed with the committee by a representative of the Auditing firm's tax department. 2. Once the Audit Committee approves the document, it will be posted on a secure website for review by the organization's officers, directors, and Board of Trustees. It will be left there for a stated period of time and then removed. 3. Once we know that the Board has been given enough time for this review process, then the 990 is filed. at the Board has been given enough time for this review process, then the 990 is filed.

Form 990, Part VI, Section B, line 12C

Annually, at the first Board of Trustee meeting, we require that everyone stated to be involved in this process fill out a form and sign it stating that there is no conflict of interest. These forms are maintained by the Executive Assistant to the Head of School.

Form 990, Part VI, Section B, line 15

At the time of a new hire, or at contract time for the existing Head of School, the Board of Trustees uses a number of metrics and conducts meetings to determine equitable compensation. Examples of the process are as follows: An Independent Compensation Consultant is hired by the Board of Trustees. The consultant conducts a compensation survey of competitor peer schools and prepares a written report. The Form 990 of other similar organizations, available on Guidestar, is one factor used for comparison. The Board of Trustees' Compensation Committee studies the consultant's report and other data and recommends compensation and benefits for the contract to the Board of Trustees. The employment contract is reviewed by a legal firm. The Board of Trustees discusses and votes on the Compensation Committee recommendation and on the approval of the contract.

Form 990, Part VI, Section C, line 19

The governing documents, conflict of interest policy, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Holton-arms School
EIN
53-0196507
Phone
3013655300
Address
7303 RIVER ROAD, BETHESDA, MD 20817

Signing Officer

Name
Susanna a Jones
Title
Head of School
Phone
3013655300
Signed
2018-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susanna a Jones
Formed
1964
Legal Domicile
Md
Voting Board Members
22
Independent Board Members
21
Employees
539
Volunteers
250

Preparer

Firm
Rsm US Llp
Address
9737 Washingtonian Blvd 400, Gaithersburg, MD 20878
Preparer
William E Turco CPA
Phone
3012963600
Supplemental Narrative

Financial Statement Notes

Part V, Line 4:

The Board of Trustees sets the annual spending policy for the endowment and reserves to balance the goals of providing support for current operations and maintaining long-term assets for the future needs of the School.

Part X, Line 2:

The School is generally exempt from federal and state income taxes under the provisions of Section 501(c) (3) of the Internal Revenue Code. However, the School is subject to income taxes on unrelated business income as defined by the Internal Revenue Service. The School adopted the accounting standard on accounting for uncertainty in income taxes (FASB ASC Topic 740-10), which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, the School may recognize the tax benefit from an uncertain tax position only if it is more-likely-than-not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes and accounting for interim periods. Management evaluated the School's tax positions and concluded that the School had taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance. The School files income tax returns in the U.S. federal jurisdiction. With few exceptions, the School is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for years before 2014.

Part XI, Line 2D - Other Adjustments:

FINANCIAL AID NETTED AGAINST TUITION REVENUE -3,549,948. Transfer to funds held for others -23,853.

Part XI, Line 4B - Other Adjustments:

cost of goods sold REPORTED ON LINE 10B -118,285. special event expenses reported on line 8b -110,421.

Part XII, Line 2D - Other Adjustments:

cost of goods sold REPORTED ON LINE 10B 118,285. special event expenses reported on line 8b 110,421.

Part XII, Line 4B - Other Adjustments:

FINANCIAL AID NETTED AGAINST TUITION REVENUE 3,549,948. Transfer to funds held for others 23,853.

Raw XML AppendixShowing 400 of 976 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/Desc0Founded in 1901, Holton-Arms is a college-preparatory school for girls grades 3-12. The School provides rigorous and dynamic programs in the traditional academic areas, the fine and performing arts, and athletics. The School is accredited by: Middle States Association of Colleges & Schools; Association of Independent Maryland Schools; and licensed in the State of Maryland.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt1President
IRS990/Form990PartVIISectionAGrp/TitleTxt2Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt3Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt12Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt13Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt14Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt15Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt16Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt17Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt18Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt19Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt20Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt21Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt22Head of School
IRS990/Form990PartVIISectionAGrp/TitleTxt23Director, Finance & Operations
IRS990/Form990PartVIISectionAGrp/TitleTxt24Director, Institutional Adv.
IRS990/Form990PartVIISectionAGrp/TitleTxt25Director, Enrollment
IRS990/Form990PartVIISectionAGrp/TitleTxt26Director, Lower School
IRS990/Form990PartVIISectionAGrp/TitleTxt27Director, Facilities
IRS990/Form990PartVIISectionAGrp/TitleTxt28Director, Physical edu. & Athletics
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
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IRS990/MissionDesc0The mission of the Holton-Arms School is to cultivate the unique potential of young women through the "education not only of the mind, but of the soul and spirit".
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$148$59.2$88.6$45.9$44.7$1.12
2023Detailed filing. Detailed filing data is available for this year.$137$54.5$82.8$46.1$41.8$4.31
2022Detailed filing. Detailed filing data is available for this year.$130$52.9$77.0$42.1$40.1$1.98
2021Detailed filing. Detailed filing data is available for this year.$134$51.6$82.3$38.1$36.9$1.21
2020Detailed filing. Detailed filing data is available for this year.$100$28.3$71.7$38.4$38.4$0.03
2019Detailed filing. Detailed filing data is available for this year.$108$34.6$73.1$39.6$38.3$1.28
2018Detailed filing. Detailed filing data is available for this year.$109$36.1$72.6$38.6$37.1$1.56
2017Detailed filing. Detailed filing data is available for this year.$106$35.4$70.9$36.9$35.8$1.14
2016Detailed filing. Detailed filing data is available for this year.$99.8$34.2$65.5$33.9$34.1$0.20
2015Detailed filing. Detailed filing data is available for this year.$101$33.5$68.0$31.8$32.4$0.55
2014Detailed filing. Detailed filing data is available for this year.$100$31.0$69.0$33.4$31.2$2.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$99.8$36.2$63.6$30.5
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$92.5$32.3$60.2$28.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$95.2$32.2$63.0$27.5
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.6$31.9$56.7$26.2
Peer Organizations

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