Civic Intelligence

Gray Stone Educational Foundation Inc.

990 • Fiscal year 2014 • EIN 56-2211005

Jul 01, 2013 to Jun 30, 2014 • Filed on Nov 20, 2014

Organization ProfileWWW.GRAYSTONEDAY.ORG
PO Box 96028109

(704) 463-0567

Siviq Scores

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

Liabilities / Assets

79th percentile

0.67x

Higher debt load relative to assets than 79% of similar nonprofits.

2014 filings • NTEE B • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

95th percentile

2.25x

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

2014 filings • NTEE B • $5M-$10M nonprofits • Source year 2014

Net Margin

17th percentile

-6.7%

Higher net margin than 17% of similar nonprofits.

2014 filings • NTEE B • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

27th percentile

$74,739

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 2.5% of source-year revenue.

2014 filings • NTEE B • $5M-$10M nonprofits • Source year 2014

Asset Growth

23rd percentile

-3.2%

Faster asset growth than 23% of similar nonprofits.

2014 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

54th percentile

6.6%

Faster revenue growth than 54% of similar nonprofits.

2014 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$9,974,588

Down $326,697 (-3.2%) from 2013

Net Assets

Down

$3,246,303

Down $200,120 (-5.8%) from 2013

Liabilities

Down

$6,728,285

Down $126,577 (-1.8%) from 2013

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin17th percentile

Revenue

Up

$2,985,574

Up $183,965 (+6.6%) from 2013

Expenses

Up

$3,185,694

Up $115,839 (+3.8%) from 2013

Net Income

Up

-$200,120

Up $68,126 (+25%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$30M$20M$10M$0Assets 2011: $9,300,027Liabilities 2011: $5,517,971Net Assets 2011: $3,782,0562011Assets 2012: $9,248,173Liabilities 2012: $5,444,504Net Assets 2012: $3,803,6692012Assets 2013: $10,301,285Liabilities 2013: $6,854,862Net Assets 2013: $3,446,4232013Assets 2014: $9,974,588Liabilities 2014: $6,728,285Net Assets 2014: $3,246,3032014Assets 2015: $9,722,640Liabilities 2015: $7,204,479Net Assets 2015: $2,518,1612015Assets 2016: $9,937,979Liabilities 2016: $6,980,396Net Assets 2016: $2,957,5832016Assets 2017: $11,497,370Liabilities 2017: $8,152,530Net Assets 2017: $3,344,8402017Assets 2018: $15,409,384Liabilities 2018: $15,128,002Net Assets 2018: $281,3822018Assets 2019: $19,465,817Liabilities 2019: $18,836,559Net Assets 2019: $629,2582019Assets 2020: $20,453,371Liabilities 2020: $20,230,428Net Assets 2020: $222,9432020Assets 2021: $19,949,952Liabilities 2021: $18,737,992Net Assets 2021: $1,211,9602021Assets 2022: $16,754,071Liabilities 2022: $14,552,588Net Assets 2022: $2,201,4832022Assets 2023: $15,116,741Liabilities 2023: $11,946,963Net Assets 2023: $3,169,7782023Assets 2024: $14,788,403Liabilities 2024: $11,453,581Net Assets 2024: $3,334,8222024

Highlighted filing

2014

Assets$9,974,588
Liabilities$6,728,285
Net Assets$3,246,303
Open 2014 Filing

Operations Trend

Revenue Growth54th percentile

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

$10M$5.0M$0-$5.0MRevenue 2011: $2,479,817Expenses 2011: $2,195,981Net Income 2011: $283,8362011Revenue 2012: $2,548,855Expenses 2012: $2,527,242Net Income 2012: $21,6132012Revenue 2013: $2,801,609Expenses 2013: $3,069,855Net Income 2013: -$268,2462013Revenue 2014: $2,985,574Expenses 2014: $3,185,694Net Income 2014: -$200,1202014Revenue 2015: $2,930,572Expenses 2015: $3,178,738Net Income 2015: -$248,1662015Revenue 2016: $3,670,088Expenses 2016: $3,230,666Net Income 2016: $439,4222016Revenue 2017: $4,011,383Expenses 2017: $3,624,126Net Income 2017: $387,2572017Revenue 2018: $6,357,854Expenses 2018: $5,332,999Net Income 2018: $1,024,8552018Revenue 2019: $6,886,748Expenses 2019: $6,538,872Net Income 2019: $347,8762019Revenue 2020: $6,765,212Expenses 2020: $7,171,527Net Income 2020: -$406,3152020Revenue 2021: $7,624,974Expenses 2021: $6,635,957Net Income 2021: $989,0172021Revenue 2022: $7,493,327Expenses 2022: $6,503,804Net Income 2022: $989,5232022Revenue 2023: $7,487,489Expenses 2023: $6,519,194Net Income 2023: $968,2952023Revenue 2024: $7,542,851Expenses 2024: $7,377,807Net Income 2024: $165,0442024

Highlighted filing

2014

Revenue$2,985,574
Expenses$3,185,694
Net Income-$200,120
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Nov 20, 2014
Return Version
2013v3.0
Gross Receipts
$2,985,574
Mission and Program Overview

Mission

Provide facilities, teachers, and materials to students enrolled at a public charter school

To operate a charter school in north carolina

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$9,091,619$8,785,376▼ $306,243
Pd in Cap Srpls Land Bldg Eqp Fund$2,254,368$2,071,584▼ $182,784
Cash and Non-Interest-Bearing Accounts$1,179,237$1,178,227▼ $1,010
Rtn Earn Endowment Incm Other Fnds$994,196$976,205▼ $17,991
Cap Stk Tr Prin Current Funds$197,859$198,514▲ $655
Accounts Receivable$30,429$7,950▼ $22,479
Prepaid Expenses and Deferred Charges-$3,035-
Pledges and Grants Receivable$0--
Total Assets$10,301,285$9,974,588▼ $326,697
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,837,251$6,713,792▼ $123,459
Accounts Payable and Accrued Expenses$17,611$14,493▼ $3,118
Total Liabilities$6,854,862$6,728,285▼ $126,577
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,446,423$3,246,303▼ $200,120
Total Liabilities and Net Assets / Fund Balance$10,301,285$9,974,588▼ $326,697

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$8,033,738$947,641-
Land$586,830--
Equipment$164,808$292,254-
Compensation and Service Providers
Top Officer Pay27th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Helen NanceChief Administrative OfficFT$74,739$74,739

Board Members and Trustees

NameTitle
H Earl Singletary JrChairman of the Board
Dawn LucasBoard Member
Jim HillierBoard Member
Pat BramlettBoard Member
Ron GarrowBoard Member
Stan BowersBoard Member
Stephen ChambersBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$2,985,138
Program Service Revenue
$0
Investment Income
$436
Other Revenue
$0
All Other Contributions
$289,388
Change in Net Assets
$-200,120

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,985,574
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,985,574
Total Revenue per Form 990
$2,985,574
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,948,821
Other Expenses$1,236,873
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,175,590$232,113-$1,407,703
Depreciation Depletion$326,077$36,231-$362,308
Interest-$334,600-$334,600
Pension Plan Contributions$148,232$35,880-$184,112
Other Employee Benefits$145,136$27,582-$172,718
Payroll Taxes$87,301$22,248-$109,549
Current Officers, Directors, Trustees, and Key Employees-$74,739-$74,739
Travel$34,178$70-$34,248
Fees for Services Accounting-$28,429-$28,429
Occupancy$27,880--$27,880
Insurance-$25,648-$25,648
Fees for Services Other-$11,600-$11,600
Other Expenses$7,498$212-$7,710
Conferences and Meetings$3,731$898-$4,629
Total Functional Expenses$2,172,142$1,013,552$0$3,185,694

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,185,694
Total Expenses per Audited Statements$3,185,694
Total Expenses per Form 990$3,185,694
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
Lobbying 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
Audit committee
No
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 B, Line 11

“A draft copy of the 990 return was sent to the board of directors for review before it was filed.”

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

“Each member of the board of directors signs a conflict of interest policy each year.”

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

“The board of directors reviewed comparable salary data to determine chief administrator's salary.”

Form 990, Part VI, Section C, Line 19

“The organization's governing documents, conflict of interest policy and financial statements are available for public inspection at the oranization's office upon request. Organization staff are available to provide supervision and answer any questions the inquiring party may have.”

Filing and Contact Details

Filer

EIN
56-2211005
Phone
7044630567

Signing Officer

Name
Helen Nance
Title
Chief Administrator
Phone
7048504201
Signed
2014-11-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Helen Nance
Formed
2003
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
76
Volunteers
15

Preparer

Preparer
Samuel M Leder CPA
Phone
7047868189
Raw XML Appendix388 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/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0976205
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt08033738
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0947641
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt08981379
IRS990ScheduleD/EquipmentGrp/BookValueAmt0164808
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0292254
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0457062
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt03185694
IRS990ScheduleD/LandGrp/BookValueAmt0586830
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt0586830
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02985574
IRS990ScheduleD/TotalBookValueLandBuildingsAmt08785376
IRS990ScheduleD/TotalExpensesPerForm990Amt03185694
IRS990ScheduleD/TotalRevenuePerForm990Amt02985574
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02985574
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03185694
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE POLICY IS INCLUDED IN THE ORGANIZATION'S STATEMENT OF PURPOSE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION RECEIVES FEDERAL AND STATE ASSISTANCE THROUGH THE STATE BOARD OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A DRAFT COPY OF THE 990 RETURN WAS SENT TO THE BOARD OF DIRECTORS FOR REVIEW BEFORE IT WAS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH MEMBER OF THE BOARD OF DIRECTORS SIGNS A CONFLICT OF INTEREST POLICY EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWED COMPARABLE SALARY DATA TO DETERMINE CHIEF ADMINISTRATOR'S SALARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION AT THE ORANIZATION'S OFFICE UPON REQUEST. ORGANIZATION STAFF ARE AVAILABLE TO PROVIDE SUPERVISION AND ANSWER ANY QUESTIONS THE INQUIRING PARTY MAY HAVE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt010301285
IRS990/TotalAssetsEOYAmt09974588
IRS990/TotalAssetsGrp/BOYAmt010301285
IRS990/TotalAssetsGrp/EOYAmt09974588
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02985138
IRS990/TotalEmployeeCnt076
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01013552
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02172142
IRS990/TotalFunctionalExpensesGrp/TotalAmt03185694
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06854862
IRS990/TotalLiabilitiesEOYAmt06728285
IRS990/TotalLiabilitiesGrp/BOYAmt06854862
IRS990/TotalLiabilitiesGrp/EOYAmt06728285
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt03446423
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt03246303
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt02172142
IRS990/TotalReportableCompFromOrgAmt074739
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0436
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02985574
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt015
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt010301285
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt09974588
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt070
IRS990/TravelGrp/ProgramServicesAmt034178
IRS990/TravelGrp/TotalAmt034248
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine10PO BOX 960
IRS990/USAddress/City0MISENHEIMER
IRS990/USAddress/State0NC
IRS990/USAddress/ZIPCode028109
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0WWW.GRAYSTONEDAY.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02015-11-30 17:44:51Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0HELEN NANCE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHIEF ADMINISTRATOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07048504201
ReturnHeader/BusinessOfficerGrp/SignatureDt02014-11-20
ReturnHeader/Filer/BusinessName/BusinessNameLine10GRAY STONE EDUCATIONAL FOUNDATION INC
ReturnHeader/Filer/BusinessName/BusinessNameLine20DBA GRAY STONE DAY SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0GRAY
ReturnHeader/Filer/EIN0562211005
ReturnHeader/Filer/PhoneNum07044630567
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 960
ReturnHeader/Filer/USAddress/City0MISENHEIMER
ReturnHeader/Filer/USAddress/State0NC
ReturnHeader/Filer/USAddress/ZIPCode028109
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561220683
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine10POTTER & COMPANY PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine10434 COPPERFIELD BLVD NE STE A
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/City0CONCORD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/State0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCode028025
ReturnHeader/PreparerPersonGrp/PhoneNum07047868189
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SAMUEL M LEDER CPA
ReturnHeader/ReturnTs02014-11-21T08:51:59-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02013-07-01
ReturnHeader/TaxPeriodEndDt02014-06-30
ReturnHeader/TaxYr02013

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$9,974,588
Liabilities
$6,728,285
Net assets
$3,246,303
Revenue
$2,985,574
Expenses
$3,185,694
Net income
-$200,120
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.8$11.5$3.33$7.54$7.38$0.17
2023Detailed filing. Detailed filing data is available for this year.$15.1$11.9$3.17$7.49$6.52$0.97
2022Detailed filing. Detailed filing data is available for this year.$16.8$14.6$2.20$7.49$6.50$0.99
2021Detailed filing. Detailed filing data is available for this year.$19.9$18.7$1.21$7.62$6.64$0.99
2020Detailed filing. Detailed filing data is available for this year.$20.5$20.2$0.22$6.77$7.17$0.41
2019Detailed filing. Detailed filing data is available for this year.$19.5$18.8$0.63$6.89$6.54$0.35
2018Detailed filing. Detailed filing data is available for this year.$15.4$15.1$0.28$6.36$5.33$1.02
2017Detailed filing. Detailed filing data is available for this year.$11.5$8.15$3.34$4.01$3.62$0.39
2016Detailed filing. Detailed filing data is available for this year.$9.94$6.98$2.96$3.67$3.23$0.44
2015Detailed filing. Detailed filing data is available for this year.$9.72$7.20$2.52$2.93$3.18$0.25
2014Detailed filing. Detailed filing data is available for this year.$9.97$6.73$3.25$2.99$3.19$0.20
2013Summary only. Only limited summary data is available for this year.$10.3$6.85$3.45$2.80$3.07$0.27
2012Summary only. Only limited summary data is available for this year.$9.25$5.44$3.80$2.55$2.53$0.02
2011Summary only. Only limited summary data is available for this year.$9.30$5.52$3.78$2.48$2.20$0.28