Civic Intelligence

Virginia Biotechnology Association

990 • Fiscal year 2016 • EIN 54-1644709

Jul 01, 2015 to Jun 30, 2016 • Filed on Nov 15, 2016

Organization Profilewww.vabio.org

View Organization Page

800 E Leigh StreetRichmond, VA 23219

(804) 643-6360

Siviq Scores

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

Liabilities / Assets

51st percentile

0.09x

Higher debt load relative to assets than 51% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

53rd percentile

0.09x

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

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Net Margin

12th percentile

-10%

Higher net margin than 12% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

86th percentile

$144,375

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 25.8% of source-year revenue.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2016

Asset Growth

16th percentile

-9.5%

Faster asset growth than 16% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

20th percentile

-8.2%

Faster revenue growth than 20% of similar nonprofits.

2016 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets51st percentile

Assets

Down

$544,428

Down $57,368 (-9.5%) from 2015

Net Assets

Down

$495,434

Down $57,827 (-10%) from 2015

Liabilities

Up

$48,994

Up $459 (+0.9%) from 2015

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin12th percentile

Revenue

Down

$559,117

Down $50,047 (-8.2%) from 2015

Expenses

Up

$616,944

Up $41,622 (+7.2%) from 2015

Net Income

Down

-$57,827

Down $91,669 (-271%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

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

$800K$600K$400K$200K$0Assets 2012: $532,745Liabilities 2012: $9,666Net Assets 2012: $523,0792012Assets 2013: $490,179Liabilities 2013: $40,815Net Assets 2013: $449,3642013Assets 2014: $565,429Liabilities 2014: $46,010Net Assets 2014: $519,4192014Assets 2015: $601,796Liabilities 2015: $48,535Net Assets 2015: $553,2612015Assets 2016: $544,428Liabilities 2016: $48,994Net Assets 2016: $495,4342016Assets 2017: $575,509Liabilities 2017: $43,177Net Assets 2017: $532,3322017Assets 2018: $580,919Liabilities 2018: $47,588Net Assets 2018: $533,3312018Assets 2019: $662,434Liabilities 2019: $64,916Net Assets 2019: $597,5182019Assets 2020: $637,958Liabilities 2020: $56,536Net Assets 2020: $581,4222020Assets 2021: $791,688Liabilities 2021: $154,376Net Assets 2021: $637,3122021Assets 2022: $591,880Liabilities 2022: $174,585Net Assets 2022: $417,2952022Assets 2023: $509,496Liabilities 2023: $80,020Net Assets 2023: $429,4762023Assets 2024: $463,381Liabilities 2024: $224,397Net Assets 2024: $238,9842024

Highlighted filing

2016

Assets$544,428
Liabilities$48,994
Net Assets$495,434
Open 2016 Filing

Operations Trend

Revenue Growth20th percentile

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

$1.5M$1.0M$500K$0-$500KExpenses 2012: $476,4882012Expenses 2013: $602,0742013Revenue 2014: $482,828Expenses 2014: $412,773Net Income 2014: $70,0552014Revenue 2015: $609,164Expenses 2015: $575,322Net Income 2015: $33,8422015Revenue 2016: $559,117Expenses 2016: $616,944Net Income 2016: -$57,8272016Revenue 2017: $651,877Expenses 2017: $614,979Net Income 2017: $36,8982017Revenue 2018: $668,347Expenses 2018: $667,348Net Income 2018: $9992018Revenue 2019: $877,989Expenses 2019: $813,802Net Income 2019: $64,1872019Revenue 2020: $709,257Expenses 2020: $725,352Net Income 2020: -$16,0952020Revenue 2021: $690,493Expenses 2021: $634,603Net Income 2021: $55,8902021Revenue 2022: $728,390Expenses 2022: $948,407Net Income 2022: -$220,0172022Revenue 2023: $1,198,368Expenses 2023: $1,186,187Net Income 2023: $12,1812023Revenue 2024: $1,359,495Expenses 2024: $1,440,202Net Income 2024: -$80,7072024

Highlighted filing

2016

Revenue$559,117
Expenses$616,944
Net Income-$57,827
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Nov 15, 2016
Return Version
2015v2.1
Gross Receipts
$559,117
Mission and Program Overview

Mission

To promote the biotechnology and biomedical industry in virginia and to expand the knowledge and expertise of virginia's businesses concerning biotech/biomed, to enhance public awareness and understanding of the science and the industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$553,261$495,434▼ $57,827
Investments Other Securities$272,892$268,987▼ $3,905
Savings and Temporary Cash Investments$223,233$200,923▼ $22,310
Cash and Non-Interest-Bearing Accounts$105,671$74,518▼ $31,153
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$601,796$544,428▼ $57,368
Liabilities
Other Liabilities$48,535$48,994▲ $459
Total Liabilities$48,535$48,994▲ $459
Net Assets / Fund Balance
Total Net Assets Fund Balance$553,261$495,434▼ $57,827
Total Liabilities and Net Assets / Fund Balance$601,796$544,428▼ $57,368

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$268,987--
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Jeff GallaherChief Executive OfficerFT$144,375$144,375

Board Members and Trustees

NameTitle
Jeff ConroyChairman
Jim PowersChairman, Virginia Bioscie
Michael GrishamImmediate Past Chairman
Crystal IcenhourVice Chairman
Alex EulerDirector
Brian PollokDirector
Carl Sahidirector
Carrie RothDIRECtor
Christian PlazaDirector
Christopher Penetdirector
Cynthia Rancourtdirector
Elaine Horn-ranneydirector
Jason WalshDirector
John Niederhuberdirector
Mike InnesDirector
Raul DiazDirector
Reg Seetodirector
Spencer WilliamsonDirector
Thomas Sanderdirector
Thomas Vossdirector
Warren MartinDIREctor
William B StilleyDirector
ALAN ConnorsECRETARY
Andrew J KrouseTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$512,528
Investment Income
$16,136
Other Revenue
$30,453
Change in Net Assets
$-57,827
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$320,586
Other Expenses$296,358
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$277,893
Fees for Services Legal---$37,102
All Other Expenses---$23,439
Other Employee Benefits---$23,064
Payroll Taxes---$19,629
Fees for Services Other---$13,663
Travel---$11,533
Other Expenses---$8,300
Occupancy---$7,654
Fees for Services Accounting---$3,600
Insurance---$1,169
Office Expenses---$471
Total Functional Expenses$0$0$0$616,944
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
In-house lobbying only
No
Subject to proxy tax
Yes
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
bonus payable$45,934
payroll liabilities$3,060
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 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, Section A, line 6

“The organization has members, both voting and nonvoting.”

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

“The governing body is elected by voting members of the organization.”

Form 990, Part VI, Section B, line 11

“A copy of the Form 990 is provided to the board of directors for review prior to filing with the IRS. The Form 990 is also reviewed by the finance manager, the treasurer and the CEO and approved by the CEO.”

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

“The written policy is provided to all board members who complete and sign an acknowledgment each year.”

Form 990, Part VI, Section B, line 15A

“The national association conducts salary surveys of all state biotechnology associations CEO's compensation. This survey was shared with the executive committee which reviews the information and approves the CEO's compensation. The final budget, which includes the CEO's compensation is approved by the entire board.”

Form 990, Part VI, Section C, line 18

“Another's website is Guidestar.”

Form 990, Part VI, Section C, line 19

“The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Virginia Biotechnology Association
EIN
54-1644709
Phone
8046436360
Address
800 E Leigh Street, Richmond, VA 23219

Signing Officer

Name
Jeffrey Gallagher
Title
CEO
Phone
8046436360
Signed
2016-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jeffrey Gallagher
Formed
1992
Legal Domicile
Va
Voting Board Members
24
Independent Board Members
24
Employees
4
Volunteers
1

Preparer

Firm
Piascik
Address
4470 Cox Road Suite 250, Glen Allen, VA 23060
Preparer
Ryan Losi CPA
Phone
8045271815
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IRS990/Form990PartVIISectionAGrp/PersonNm1Jeff Conroy
IRS990/Form990PartVIISectionAGrp/PersonNm2Carl Sahi
IRS990/Form990PartVIISectionAGrp/PersonNm3Thomas Sander
IRS990/Form990PartVIISectionAGrp/PersonNm4Cynthia Rancourt
IRS990/Form990PartVIISectionAGrp/PersonNm5Mike Innes
IRS990/Form990PartVIISectionAGrp/PersonNm6Andrew J Krouse
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IRS990/Form990PartVIISectionAGrp/PersonNm8Raul Diaz
IRS990/Form990PartVIISectionAGrp/PersonNm9Spencer Williamson
IRS990/Form990PartVIISectionAGrp/PersonNm10William B Stilley
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IRS990/Form990PartVIISectionAGrp/PersonNm12Alex Euler
IRS990/Form990PartVIISectionAGrp/PersonNm13Christian Plaza
IRS990/Form990PartVIISectionAGrp/PersonNm14Jim Powers
IRS990/Form990PartVIISectionAGrp/PersonNm15Jason Walsh
IRS990/Form990PartVIISectionAGrp/PersonNm16Crystal Icenhour
IRS990/Form990PartVIISectionAGrp/PersonNm17Brian Pollok
IRS990/Form990PartVIISectionAGrp/PersonNm18CARRIE ROTH
IRS990/Form990PartVIISectionAGrp/PersonNm19Warren Martin
IRS990/Form990PartVIISectionAGrp/PersonNm20John Niederhuber
IRS990/Form990PartVIISectionAGrp/PersonNm21Christopher Penet
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IRS990/Form990PartVIISectionAGrp/PersonNm23Thomas Voss
IRS990/Form990PartVIISectionAGrp/PersonNm24Jeff Gallaher
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Immediate Past Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt1Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt2director
IRS990/Form990PartVIISectionAGrp/TitleTxt3director
IRS990/Form990PartVIISectionAGrp/TitleTxt4director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt7sECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Chairman, Virginia Bioscie
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECtor
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIREctor
IRS990/Form990PartVIISectionAGrp/TitleTxt20director
IRS990/Form990PartVIISectionAGrp/TitleTxt21director
IRS990/Form990PartVIISectionAGrp/TitleTxt22director
IRS990/Form990PartVIISectionAGrp/TitleTxt23director
IRS990/Form990PartVIISectionAGrp/TitleTxt24Chief Executive Officer
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IRS990/FormationYr01992
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IRS990/FSAuditedInd00
IRS990/FundraisingActivitiesInd00
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IRS990/GrantsToIndividualsInd00
IRS990/GrantsToOrganizationsInd00
IRS990/GrantToRelatedPersonInd00
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IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt045801
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt045801
IRS990/MissionDesc0TO PROMOTE THE BIOTECHNOLOGY AND BIOMEDICAL INDUSTRY IN VIRGINIA AND TO EXPAND THE KNOWLEDGE AND EXPERTISE OF VIRGINIA'S BUSINESSES CONCERNING BIOTECH/BIOMED, TO ENHANCE PUBLIC AWARENESS AND UNDERSTANDING OF THE SCIENCE AND THE INDUSTRY.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NetAssetsOrFundBalancesEOYAmt0495434
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NondeductibleContributionsInd00
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IRS990/OfficeExpensesGrp/TotalAmt0471
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
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IRS990/OtherExpensesGrp/Desc0network events and supp
IRS990/OtherExpensesGrp/Desc1supplies
IRS990/OtherExpensesGrp/Desc2in-kind expenses
IRS990/OtherExpensesGrp/Desc3software
IRS990/OtherExpensesGrp/TotalAmt0112015
IRS990/OtherExpensesGrp/TotalAmt167412
IRS990/OtherExpensesGrp/TotalAmt210000
IRS990/OtherExpensesGrp/TotalAmt38300
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IRS990/OtherRevenueTotalAmt030453
IRS990/OtherSalariesAndWagesGrp/TotalAmt0277893
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IRS990/PayrollTaxesGrp/TotalAmt019629
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Jeffrey Gallagher
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/Desc0Membership dues
IRS990/ProgramServiceRevenueGrp/Desc1Networking events
IRS990/ProgramServiceRevenueGrp/Desc2Sponsorships
IRS990/ProgramServiceRevenueGrp/Desc3Biopurchasing
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0226900
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1123325
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1123325
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt295000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt367303
IRS990/ProgSrvcAccomActy2Grp/Desc0In January 2016, Virginia Bio hosted a hospitality meeting suite and networking reception for life science industry leaders and academics from Virginia, and investors in San Francisco, VA.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt060953
IRS990/ProgSrvcAccomActy3Grp/Desc0In September 2015 Virginia Bio helped produced the Governor's Conference on Agricultural and industrial Bio (AgBio). This event gathered companies, researchers and members of the agricultural community working in this rapidly growing sector.
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IRS990/PYTotalExpensesAmt0575322
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IRS990/PYTotalRevenueAmt0609164
IRS990/ReconcilationRevenueExpnssAmt0-57827
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IRS990ScheduleD/TotalBookValueSecuritiesAmt0268987
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IRS990ScheduleJ/SeverancePaymentInd00
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization has members, both voting and nonvoting.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The governing body is elected by voting members of the organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A copy of the Form 990 is provided to the board of directors for review prior to filing with the IRS. The Form 990 is also reviewed by the finance manager, the treasurer and the CEO and approved by the CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The written policy is provided to all board members who complete and sign an acknowledgment each year.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The national association conducts salary surveys of all state biotechnology associations CEO's compensation. This survey was shared with the executive committee which reviews the information and approves the CEO's compensation. The final budget, which includes the CEO's compensation is approved by the entire board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Another's website is Guidestar.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section B, line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Section C, line 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$544,428
Liabilities
$48,994
Net assets
$495,434
Revenue
$559,117
Expenses
$616,944
Net income
-$57,827
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.46$0.22$0.24$1.36$1.44$0.08
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.51$0.08$0.43$1.20$1.19$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.59$0.17$0.42$0.73$0.95$0.22
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.15$0.64$0.69$0.63$0.06
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.64$0.06$0.58$0.71$0.73$0.02
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.66$0.06$0.60$0.88$0.81$0.06
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.58$0.05$0.53$0.67$0.67$0.00
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.58$0.04$0.53$0.65$0.61$0.04
2016Detailed filing. Detailed filing data is available for this year.$0.54$0.05$0.50$0.56$0.62$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.60$0.05$0.55$0.61$0.58$0.03
2014Detailed filing. Detailed filing data is available for this year.$0.57$0.05$0.52$0.48$0.41$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.49$0.04$0.45$0.60
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.01$0.52$0.48