Civic Intelligence

Circulate Initiative Inc.

990 • Fiscal year 2019 • EIN 83-4505154

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 15, 2020

Organization ProfileWWW.THECIRCULATEINITIATIVE.ORG
CO Patterson Belknap 1133 6th AveNew York, NY 10036

(646) 783-1943

Siviq Scores

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

Liabilities / Assets

19th percentile

0.01x

Higher debt load relative to assets than 19% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

12th percentile

0.01x

Higher debt load relative to revenue than 12% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Net Margin

96th percentile

75%

Higher net margin than 96% of similar nonprofits.

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

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

2019 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2019

Asset Growth

Score unavailable

No value available

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

Source year 2019

Revenue Growth

Score unavailable

No value available

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

Source year 2019

Balance Sheet
Liabilities / Assets19th percentile

Assets

$4,984,810

No earlier filing loaded for comparison.

Net Assets

$4,923,510

No earlier filing loaded for comparison.

Liabilities

$61,300

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue12th percentileNet Margin96th percentile

Revenue

$6,540,474

No earlier filing loaded for comparison.

Expenses

$1,616,964

No earlier filing loaded for comparison.

Net Income

$4,923,510

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0Assets 2019: $4,984,810Liabilities 2019: $61,300Net Assets 2019: $4,923,5102019Assets 2020: $3,395,567Liabilities 2020: $1,031,386Net Assets 2020: $2,364,1812020Assets 2021: $3,225,449Liabilities 2021: $926,227Net Assets 2021: $2,299,2222021Assets 2022: $2,645,356Liabilities 2022: $201,186Net Assets 2022: $2,444,1702022Assets 2023: $2,268,604Liabilities 2023: $464,788Net Assets 2023: $1,803,8162023Assets 2024: $3,322,495Liabilities 2024: $2,055,079Net Assets 2024: $1,267,4162024

Highlighted filing

2019

Assets$4,984,810
Liabilities$61,300
Net Assets$4,923,510
Open 2019 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2019: $6,540,474Expenses 2019: $1,616,964Net Income 2019: $4,923,5102019Revenue 2020: $3,202,863Expenses 2020: $4,000,724Net Income 2020: -$797,8612020Revenue 2021: $3,893,164Expenses 2021: $3,958,123Net Income 2021: -$64,9592021Revenue 2022: $4,096,428Expenses 2022: $3,951,480Net Income 2022: $144,9482022Revenue 2023: $1,364,382Expenses 2023: $2,004,736Net Income 2023: -$640,3542023Revenue 2024: $1,974,077Expenses 2024: $2,510,477Net Income 2024: -$536,4002024

Highlighted filing

2019

Revenue$6,540,474
Expenses$1,616,964
Net Income$4,923,510
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.1
Gross Receipts
$6,540,474
Mission and Program Overview

Mission

The organization's purpose is to target the reduction of ocean plastics and related environmental pollution and combatting environmental deterioration by conducting activity in south and south east asia through three of its core strategies: incubation and technical assistance; impact measurement and knowledge management; and amplification and awareness building in furtherance of the social and environmental impacts of reducing the amount of plastic entering the environment and creating economic value for marginalized local communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$4,096,224-
Cash and Non-Interest-Bearing Accounts-$885,719-
Land, Buildings, and Equipment, Net$0$1,867▲ $1,867
Prepaid Expenses and Deferred Charges-$1,000-
Total Assets$0$4,984,810▲ $4,984,810
Liabilities
Accounts Payable and Accrued Expenses-$61,300-
Total Liabilities$0$61,300▲ $61,300
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$4,923,510-
Total Net Assets Fund Balance$0$4,923,510▲ $4,923,510
Total Liabilities and Net Assets / Fund Balance$0$4,984,810▲ $4,984,810

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,867-$1,867
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Michael SadowskiBoard Member
Todd KhozeinBoard Member
Susan L RuffoExecutive Director
Robert KaplanTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Secondmuse LLCConsulting ServicesPO BOX 582, Bernalillo, NM 87004$824,633
Mcdonough Innovation LLCConsulting Services700 EAST JEFFERSON ST, Charlottesville, VA 22902$248,000
Circulate Capital LLCConsulting Services1133 6TH AVENUE, New York, NY 10036$174,290
Revenue and Support

Revenue Composition

Contributions and Grants
$6,540,474
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$6,540,474
Change in Net Assets
$4,923,510

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 Traded1$50,473Fair Market Value (FMV)
Total Noncash Contributions1$50,473-

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,540,474
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$6,540,474
Total Revenue per Form 990
$6,540,474
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,616,964
Total Fundraising Expense$2,273
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$1,229,345$12,177$1,771$1,243,293
Fees for Services Legal$2,117$99,933-$102,050
Fees for Services Accounting-$29,922-$29,922
Travel$1,052$12,123-$13,175
Insurance$5,632$501$125$6,258
Conferences and Meetings-$529-$529
Other Expenses$500$63$11$63
Total Functional Expenses$1,305,543$309,148$2,273$1,616,964

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,616,964
Total Expenses per Audited Statements$1,616,964
Total Expenses per Form 990$1,616,964
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
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Todd KhozeinBoard Member and Principal of Second Muse- a Vendor With Large ContractConsulting Agreement With Second MuseNo$824,633
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 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
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

“The organization gives a copy of the 990 to the governing board for discussion and approval before filing the 990.”

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

“The organization gives the board a conflict of interest disclosure form to fill out and return annually. Transactions that involve interested parties are reviewed and approval by the independent, disinterested board members without the participation of the interested party.”

Form 990, Part VI, Section B, Line 15

“The organization does a review of comparable salaries and prepares a standard contract of employment.”

Form 990, Part VI, Section C, Line 19

“The organization does not make its governing documents, conflict of interest policy, and financial statements available to the public.”

Filing and Contact Details

Filer

Filer Name
Circulate Initiative Inc
EIN
83-4505154
Phone
6467831943
Address
CO PATTERSON BELKNAP 1133 6TH AVE, NEW YORK, NY 10036

Signing Officer

Name
Robert Kaplan
Title
Director
Phone
6467831943
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Kaplan
Formed
2018
Legal Domicile
De
Voting Board Members
3
Independent Board Members
1
Employees
0
Volunteers
0

Preparer

Firm
Prager Metis Cpas LLC
Address
100 SUNNYSIDE BLVD SUITE 200, WOODBURY, NY 11797
Preparer
Thomas Gallo
Phone
5169218900
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consulting: program service expenses 1,229,345. Management and general expenses 12,177. Fundraising expenses 1,771. Total expenses 1,243,293.”

Financial Statement Notes

PART X, LINE 2:

“Gaap requires management to evaluate tax positions taken and recognize a tax liability (or asset) if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by taxing authorities. Management has analyzed the tax positions taken and has concluded that as of december 31, 2019, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods pending or in progress.”

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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
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IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
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IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt06540474
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE ORGANIZATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2019, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS PENDING OR IN PROGRESS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt01616964
IRS990ScheduleD/TotalRevenuePerForm990Amt06540474
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01616964
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/IndependentConsultantInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0TODD KHOZEIN
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD MEMBER AND PRINCIPAL OF SECOND MUSE- A VENDOR WITH LARGE CONTRACT
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IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/ContributionCnt01
IRS990ScheduleM/SecuritiesPubliclyTradedGrp/MethodOfDeterminingRevenuesTxt0FMV
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IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION GIVES A COPY OF THE 990 TO THE GOVERNING BOARD FOR DISCUSSION AND APPROVAL BEFORE FILING THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION GIVES THE BOARD A CONFLICT OF INTEREST DISCLOSURE FORM TO FILL OUT AND RETURN ANNUALLY. TRANSACTIONS THAT INVOLVE INTERESTED PARTIES ARE REVIEWED AND APPROVAL BY THE INDEPENDENT, DISINTERESTED BOARD MEMBERS WITHOUT THE PARTICIPATION OF THE INTERESTED PARTY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION DOES A REVIEW OF COMPARABLE SALARIES AND PREPARES A STANDARD CONTRACT OF EMPLOYMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CONSULTING: PROGRAM SERVICE EXPENSES 1,229,345. MANAGEMENT AND GENERAL EXPENSES 12,177. FUNDRAISING EXPENSES 1,771. TOTAL EXPENSES 1,243,293.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0DE
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalEmployeeCnt00
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0309148
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01305543
IRS990/TotalFunctionalExpensesGrp/TotalAmt01616964
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
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IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt061300
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IRS990/TotalOtherCompensationAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
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IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04984810
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt012123
IRS990/TravelGrp/ProgramServicesAmt01052
IRS990/TravelGrp/TotalAmt013175
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01133 6TH AVENUE
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010036
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt01
IRS990/WebsiteAddressTxt0WWW.THECIRCULATEINITIATIVE.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ROBERT KAPLAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06467831943
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CIRCULATE INITIATIVE INC
ReturnHeader/Filer/BusinessNameControlTxt0CIRC
ReturnHeader/Filer/EIN0834505154
ReturnHeader/Filer/PhoneNum06467831943
ReturnHeader/Filer/USAddress/AddressLine1Txt0CO PATTERSON BELKNAP 1133 6TH AVE
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
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ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0A2A950397A538CF3CBA6B8A96BB853FF254A1E42
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ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt024.46.242.129
ReturnHeader/FilingSecurityInformation/IPDt02020-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm014:06:23
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0061667465
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PRAGER METIS CPAS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0100 SUNNYSIDE BLVD SUITE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WOODBURY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd011797
ReturnHeader/PreparerPersonGrp/PhoneNum05169218900
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS GALLO
ReturnHeader/ReturnTs02020-11-16T18:22:24-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,984,810
Liabilities
$61,300
Net assets
$4,923,510
Revenue
$6,540,474
Expenses
$1,616,964
Net income
$4,923,510
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.32$2.06$1.27$1.97$2.51$0.54
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.27$0.46$1.80$1.36$2.00$0.64
2022Detailed filing. Detailed filing data is available for this year.$2.65$0.20$2.44$4.10$3.95$0.14
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.23$0.93$2.30$3.89$3.96$0.06
2020Detailed filing. Detailed filing data is available for this year.$3.40$1.03$2.36$3.20$4.00$0.80
2019Detailed filing. Detailed filing data is available for this year.$4.98$0.06$4.92$6.54$1.62$4.92