Civic Intelligence

Prep Public Schools

990 • Fiscal year 2018 • EIN 81-3512812

Jul 01, 2017 to Jun 30, 2018 • Filed on Feb 27, 2019

1802 Bailey AvenueChattanooga, TN 37404

(423) 664-5722

Siviq Scores

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

Liabilities / Assets

41st percentile

0.04x

Higher debt load relative to assets than 41% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

34th percentile

0.04x

Higher debt load relative to revenue than 34% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

97th percentile

85%

Higher net margin than 97% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

39th percentile

$26,087

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 1.2% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Assets

$1,868,016

No earlier filing loaded for comparison.

Net Assets

$1,785,369

No earlier filing loaded for comparison.

Liabilities

$82,647

No earlier filing loaded for comparison.

Revenue

$2,101,732

No earlier filing loaded for comparison.

Expenses

$316,363

No earlier filing loaded for comparison.

Net Income

$1,785,369

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2018: $1,868,016Liabilities 2018: $82,647Net Assets 2018: $1,785,3692018Assets 2019: $2,110,272Liabilities 2019: $75,094Net Assets 2019: $2,035,1782019Assets 2020: $2,594,107Liabilities 2020: $347,311Net Assets 2020: $2,246,7962020Assets 2021: $2,356,561Liabilities 2021: $151,815Net Assets 2021: $2,204,7462021Assets 2022: $3,883,592Liabilities 2022: $648,276Net Assets 2022: $3,235,3162022Assets 2023: $3,014,774Liabilities 2023: $359,333Net Assets 2023: $2,655,4412023Assets 2024: $4,624,111Liabilities 2024: $608,652Net Assets 2024: $4,015,4592024

Highlighted filing

2018

Assets$1,868,016
Liabilities$82,647
Net Assets$1,785,369

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2018: $2,101,732Expenses 2018: $316,363Net Income 2018: $1,785,3692018Revenue 2019: $2,267,205Expenses 2019: $2,017,396Net Income 2019: $249,8092019Revenue 2020: $3,025,093Expenses 2020: $2,816,588Net Income 2020: $208,5052020Revenue 2021: $3,704,866Expenses 2021: $3,676,918Net Income 2021: $27,9482021Revenue 2022: $6,245,127Expenses 2022: $5,214,556Net Income 2022: $1,030,5712022Revenue 2023: $6,672,136Expenses 2023: $7,315,586Net Income 2023: -$643,4502023Revenue 2024: $10,992,814Expenses 2024: $9,386,954Net Income 2024: $1,605,8602024

Highlighted filing

2018

Revenue$2,101,732
Expenses$316,363
Net Income$1,785,369
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Feb 27, 2019
Return Version
2017v2.3
Gross Receipts
$2,101,732
Mission and Program Overview

Mission

Chattanooga prep is an all-boys public charter school with a mission to engage young men in a rigorous yet supportive learning environment that nurtures resilience, promotes academic excellence, inspires leadership, and prepares critical thinkers. Chattanooga prep welcomed its first class of 66 sixth graders in august 2018 and will grow to serve 350 young men in grades 6-12 over the next seven years.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cap Stk Tr Prin Current Funds$0$1,598,265▲ $1,598,265
Pledges and Grants Receivable-$1,366,779-
Cash and Non-Interest-Bearing Accounts-$167,622-
Accounts Receivable-$148,662-
Land, Buildings, and Equipment, Net$0$125,277▲ $125,277
Pd in Cap Srpls Land Bldg Eqp Fund$0$125,277▲ $125,277
Rtn Earn Endowment Incm Other Fnds$0$61,827▲ $61,827
Prepaid Expenses and Deferred Charges-$5,852-
Total Assets$0$1,868,016▲ $1,868,016
Other Assets Total$0$53,824▲ $53,824
Liabilities
Accounts Payable and Accrued Expenses-$82,647-
Total Liabilities$0$82,647▲ $82,647
Net Assets / Fund Balance
Total Net Assets Fund Balance$0$1,785,369▲ $1,785,369
Total Liabilities and Net Assets / Fund Balance$0$1,868,016▲ $1,868,016

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$121,811-$121,811
Equipment$3,466$779$4,245
Compensation and Service Providers

Employees

NameTitleFull / Part TimeOtherTotal
Elaine SwaffordExecutive DirectorFT$26,087$26,087

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$2,084,862
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$16,870
All Other Contributions
$1,954,628
Change in Net Assets
$1,785,369

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,101,732
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$61,782
Total Revenue per Audited Statements
$2,163,514
Total Revenue per Form 990
$2,101,732
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$248,047
Other Expenses$68,316
Total Fundraising Expense$34,834
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$98,804$80,776$24,792$204,372
Fees for Services Other$6,790$14,354$3,287$24,431
Payroll Taxes$12,166$5,828$1,897$19,891
Other Employee Benefits$5,258$12,557-$17,815
Insurance$1,875$7,113-$8,988
Travel$6,501$235-$6,736
Pension Plan Contributions$5,969--$5,969
Advertising$259$1,050-$1,309
Office Expenses$614$226$280$1,120
Depreciation Depletion-$779-$779
Other Expenses$771$6,262$782$771
Occupancy$350--$350
Total Functional Expenses$152,349$129,180$34,834$316,363

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$512,754
Total Expenses per Form 990$316,363
Expenses per Audited Statements$307,620
Expenses Not Reported on Form 990$205,134
Expenses Not Reported on Financial Statements$8,743
Other Expense Adjustments$8,743
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$16,870
Fundraising Direct Expenses$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Golf Tournament$16,870$16,870-$16,870
Total Events$16,870$16,870-$16,870
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Board members ted alling and kelly alling are married board members shewanee howard-baptiste and moise baptiste are married

Form 990, Part VI, Section B, Line 11B

This return will be reviewed by the board before filed

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

Each director must promptly and fully report to the board chair any situation that may create a conflict of interest. Chattanooga prep sends a copy of the policy statement and the conflict of interest disclosure statement annually to be signed by each director.

Form 990, Part VI, Section C, Line 19

No documents are made available to the public

Filing and Contact Details

Filer

Filer Name
Chattanooga Prep Inc
EIN
81-3512812
Phone
4236645722
Address
1802 BAILEY AVENUE, CHATTANOOGA, TN 37404

Signing Officer

Name
Ted Alling
Title
Chair
Phone
4236645722
Signed
2019-02-27

Organization Details

Principal Officer
Ted Alling
Formed
2017
Legal Domicile
Tn
Voting Board Members
19
Independent Board Members
19
Employees
9
Volunteers
89

Preparer

Firm
Johnson Hickey & Murchison Pc
Address
2215 OLAN MILLS DRIVE, CHATTANOOGA, TN 37421
Preparer
Stephen L Keown
Phone
4237560052
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

The school is a nonprofit organization that is exempt from federal income taxes under the internal revenue code and classified by the internal revenue service as other than a private foundation and is similarly exempt from state income taxes. The school follows the requirements of professional literature regarding uncertain tax positions taken for tax return purposes when it is more likely than not the position will be sustained. The school does not believe there are any material uncertain tax positions and accordingly, it will not recognize any liability for unrecognized tax benefits. For the period ended june 30, 2018,there were no interest or penalties recorded and included in the these financial statements. The returns for the years ended june 30,2017 and beyond remain subject to examination.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Capital outlay 126,056. Increase in pension liability 17,296.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Depreciation 779. Compensated absences 7,964.

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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/GrantToRelatedPersonInd00
IRS990/GrossReceiptsAmt02101732
IRS990/GroupReturnForAffiliatesInd00
IRS990/IncludeFIN48FootnoteInd01
IRS990/IndependentAuditFinclStmtInd00
IRS990/IndependentVotingMemberCnt019
IRS990/IndivRcvdGreaterThan100KCnt00
IRS990/IndoorTanningServicesInd00
IRS990/InfoInScheduleOPartIIIInd0X
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt07113
IRS990/InsuranceGrp/ProgramServicesAmt01875
IRS990/InsuranceGrp/TotalAmt08988
IRS990/InvestmentInJointVentureInd00
IRS990/IRPDocumentCnt03
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt0779
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt0125277
IRS990/LandBldgEquipCostOrOtherBssAmt0126056
IRS990/LegalDomicileStateCd0TN
IRS990/LoanOutstandingInd00
IRS990/LobbyingActivitiesInd00
IRS990/LocalChaptersInd00
IRS990/MaterialDiversionOrMisuseInd00
IRS990/MembersOrStockholdersInd00
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0CHATTANOOGA PREP IS AN ALL-BOYS PUBLIC CHARTER SCHOOL WITH A MISSION TO ENGAGE YOUNG MEN IN A RIGOROUS YET SUPPORTIVE LEARNING ENVIRONMENT THAT NURTURES RESILIENCE, PROMOTES ACADEMIC EXCELLENCE, INSPIRES LEADERSHIP, AND PREPARES CRITICAL THINKERS. CHATTANOOGA PREP WELCOMED ITS FIRST CLASS OF 66 SIXTH GRADERS IN AUGUST 2018 AND WILL GROW TO SERVE 350 YOUNG MEN IN GRADES 6-12 OVER THE NEXT SEVEN YEARS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt00
IRS990/NetAssetsOrFundBalancesEOYAmt01785369
IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt016870
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt016870
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt0350
IRS990/OccupancyGrp/TotalAmt0350
IRS990/OfficeExpensesGrp/FundraisingAmt0280
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0226
IRS990/OfficeExpensesGrp/ProgramServicesAmt0614
IRS990/OfficeExpensesGrp/TotalAmt01120
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt053824
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt012557
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt05258
IRS990/OtherEmployeeBenefitsGrp/TotalAmt017815
IRS990/OtherExpensesGrp/Desc0SUPPLIES
IRS990/OtherExpensesGrp/Desc1DUES AND LICENSES
IRS990/OtherExpensesGrp/Desc2STAFF DEVELOPMENT
IRS990/OtherExpensesGrp/FundraisingAmt03796
IRS990/OtherExpensesGrp/FundraisingAmt1782
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt06262
IRS990/OtherExpensesGrp/ProgramServicesAmt012992
IRS990/OtherExpensesGrp/ProgramServicesAmt1771
IRS990/OtherExpensesGrp/TotalAmt023050
IRS990/OtherExpensesGrp/TotalAmt1782
IRS990/OtherExpensesGrp/TotalAmt2771
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt024792
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt080776
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt098804
IRS990/OtherSalariesAndWagesGrp/TotalAmt0204372
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/FundraisingAmt01897
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05828
IRS990/PayrollTaxesGrp/ProgramServicesAmt012166
IRS990/PayrollTaxesGrp/TotalAmt019891
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt0125277
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt05969
IRS990/PensionPlanContributionsGrp/TotalAmt05969
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt01366779
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt05852
IRS990/PrincipalOfficerNm0TED ALLING
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt00
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt00
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt00
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt01785369
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt061827
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt061782
IRS990ScheduleD/DonatedServicesUseFcltsAmt061782
IRS990ScheduleD/EquipmentGrp/BookValueAmt03466
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0779
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt04245
IRS990ScheduleD/ExpensesNotReportedAmt0205134
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt08743
IRS990ScheduleD/ExpensesSubtotalAmt0307620
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/OtherExpensesIncludedAmt0143352
IRS990ScheduleD/OtherExpensesNotIncludedAmt08743
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0121811
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0121811
IRS990ScheduleD/RevenueNotReportedAmt061782
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02101732
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS A NONPROFIT ORGANIZATION THAT IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION AND IS SIMILARLY EXEMPT FROM STATE INCOME TAXES. THE SCHOOL FOLLOWS THE REQUIREMENTS OF PROFESSIONAL LITERATURE REGARDING UNCERTAIN TAX POSITIONS TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE SUSTAINED. THE SCHOOL DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND ACCORDINGLY, IT WILL NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. FOR THE PERIOD ENDED JUNE 30, 2018,THERE WERE NO INTEREST OR PENALTIES RECORDED AND INCLUDED IN THE THESE FINANCIAL STATEMENTS. THE RETURNS FOR THE YEARS ENDED JUNE 30,2017 AND BEYOND REMAIN SUBJECT TO EXAMINATION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1CAPITAL OUTLAY 126,056. INCREASE IN PENSION LIABILITY 17,296.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2DEPRECIATION 779. COMPENSATED ABSENCES 7,964.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART XII, LINE 2D - OTHER ADJUSTMENTS:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2PART XII, LINE 4B - OTHER ADJUSTMENTS:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0125277
IRS990ScheduleD/TotalExpensesPerForm990Amt0316363
IRS990ScheduleD/TotalRevenuePerForm990Amt02101732
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02163514
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0512754
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/ExplanationTxt0PUBLICIZED ON WEBSITE AND APPLICATIONS
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION RECEIVED ASSISTANCE FROM U.S. DEPARTMENT OF EDUCATION PASSED THROUGH THE HAMILTON COUNTY DEPARTMENT OF EDUCATION PUBLIC CHARTER SCHOOL PROGRAM
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GOLF TOURNAMENT
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt016870
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt016870
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt016870
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt016870
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt016870
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01

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