Civic Intelligence

Vail Valley Partnership

990 • Fiscal year 2023 • EIN 84-0535997

Jan 01, 2023 to Dec 31, 2023 • Filed on Jun 24, 2024

97 Main Street Ste E201Edwards, CO 81632

(970) 476-1000

Siviq Scores

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

Liabilities / Assets

95th percentile

0.79x

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

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

70th percentile

0.35x

Higher debt load relative to revenue than 70% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Net Margin

18th percentile

-7.3%

Higher net margin than 18% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

71st percentile

$203,348

Higher top officer pay than 71% of similar nonprofits.

Top officer pay equals 16.1% of source-year revenue.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2023

Asset Growth

9th percentile

-16%

Faster asset growth than 9% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

53rd percentile

9.1%

Faster revenue growth than 53% of similar nonprofits.

2023 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$563,412

Down $105,757 (-16%) from 2022

Net Assets

Down

$120,005

Down $94,654 (-44%) from 2022

Liabilities

Down

$443,407

Down $11,103 (-2.4%) from 2022

Revenue

Up

$1,262,872

Up $105,034 (+9.1%) from 2022

Expenses

Up

$1,354,578

Up $2,317 (+0.2%) from 2022

Net Income

Up

-$91,706

Up $102,717 (+53%) from 2022

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2010: $245,009Liabilities 2010: $243,445Net Assets 2010: $1,5642010Assets 2011: $245,009Liabilities 2011: $243,445Net Assets 2011: $1,5642011Assets 2012: $178,795Liabilities 2012: $299,748Net Assets 2012: -$120,9532012Assets 2013: $280,916Liabilities 2013: $368,129Net Assets 2013: -$87,2132013Assets 2014: $175,634Liabilities 2014: $161,168Net Assets 2014: $14,4662014Assets 2015: $203,368Liabilities 2015: $268,756Net Assets 2015: -$65,3882015Assets 2016: $189,670Liabilities 2016: $175,652Net Assets 2016: $14,0182016Assets 2017: $321,242Liabilities 2017: $311,221Net Assets 2017: $10,0212017Assets 2018: $286,504Liabilities 2018: $173,523Net Assets 2018: $112,9812018Assets 2019: $356,887Liabilities 2019: $242,932Net Assets 2019: $113,9552019Assets 2020: $386,722Liabilities 2020: $180,579Net Assets 2020: $206,1432020Assets 2021: $692,771Liabilities 2021: $283,689Net Assets 2021: $409,0822021Assets 2022: $669,169Liabilities 2022: $454,510Net Assets 2022: $214,6592022Assets 2023: $563,412Liabilities 2023: $443,407Net Assets 2023: $120,0052023Assets 2024: $692,542Liabilities 2024: $508,185Net Assets 2024: $184,3572024

Highlighted filing

2023

Assets$563,412
Liabilities$443,407
Net Assets$120,005

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2010: $1,159,924Expenses 2010: $1,088,913Net Income 2010: $71,0112010Revenue 2011: $1,159,924Expenses 2011: $1,088,913Net Income 2011: $71,0112011Expenses 2012: $1,374,8932012Revenue 2013: $1,528,422Expenses 2013: $1,494,682Net Income 2013: $33,7402013Revenue 2014: $1,687,475Expenses 2014: $1,585,796Net Income 2014: $101,6792014Revenue 2015: $1,440,355Expenses 2015: $1,520,209Net Income 2015: -$79,8542015Revenue 2016: $1,490,790Expenses 2016: $1,411,384Net Income 2016: $79,4062016Revenue 2017: $1,387,756Expenses 2017: $1,391,753Net Income 2017: -$3,9972017Revenue 2018: $1,427,252Expenses 2018: $1,324,292Net Income 2018: $102,9602018Revenue 2019: $1,346,712Expenses 2019: $1,345,738Net Income 2019: $9742019Revenue 2020: $1,336,640Expenses 2020: $1,244,452Net Income 2020: $92,1882020Revenue 2021: $1,384,609Expenses 2021: $1,181,670Net Income 2021: $202,9392021Revenue 2022: $1,157,838Expenses 2022: $1,352,261Net Income 2022: -$194,4232022Revenue 2023: $1,262,872Expenses 2023: $1,354,578Net Income 2023: -$91,7062023Revenue 2024: $1,638,387Expenses 2024: $1,574,035Net Income 2024: $64,3522024

Highlighted filing

2023

Revenue$1,262,872
Expenses$1,354,578
Net Income-$91,706
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jun 24, 2024
Return Version
2023v5.0
Gross Receipts
$1,262,872
Mission and Program Overview

Mission

Leading collaboration for community success.

Our programs are focused on service to businesses & members, destination sales & marketing, and economic vitality & advocacy

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$308,687$264,753▼ $43,934
Land, Buildings, and Equipment, Net$259,666$232,794▼ $26,872
Accounts Receivable$67,817$33,212▼ $34,605
Prepaid Expenses and Deferred Charges$27,872$27,526▼ $346
Total Assets$669,169$563,412▼ $105,757
Other Assets Total$5,127$5,127→ $0
Liabilities
Deferred Revenue$162,982$198,224▲ $35,242
Other Liabilities$201,370$188,100▼ $13,270
Accounts Payable and Accrued Expenses$90,158$57,083▼ $33,075
Total Liabilities$454,510$443,407▼ $11,103
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$214,659$120,005▼ $94,654
Total Net Assets Fund Balance$214,659$120,005▼ $94,654
Total Liabilities and Net Assets / Fund Balance$669,169$563,412▼ $105,757

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$44,549$246,624$291,173
Other Land Buildings$188,245$40,529$228,774
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Chris RomerCEOFT$185,969$17,379$203,348

Board Members and Trustees

NameTitle
Mark HerronChair
Bratzo HorruitinerBoard Member
Colter BarnettBoard Member
Gary WoodworthBoard Member
John DawseyBoard Member
Madelyn MosesBoard Member
Marc BrennanBoard Member
Margaret MartinezBoard Member
Melina ValseciaBoard Member
Pedro CamposBoard Member
Sarah FrankeBoard Member
Will CookBoard Member
Jeff KennedyExecutive Co
Mike BrownExecutive Co
Tiffany IngoldsbyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$771,617
Program Service Revenue
$491,015
Investment Income
$240
Other Revenue
$0
All Other Contributions
$4,598
Change in Net Assets
$-91,706
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,029,817
Other Expenses$324,761
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$483,331$175,248-$658,579
Current Officers, Directors, Trustees, and Key Employees$139,477$46,492-$185,969
Other Employee Benefits$87,015$31,550-$118,565
Occupancy$445$78,291-$78,736
Payroll Taxes$50,268$16,436-$66,704
Information Technology$4,224$62,302-$66,526
Travel$18,735$8,386-$27,121
Office Expenses$2,572$19,059-$21,631
Depreciation Depletion$2,536$13,365-$15,901
Fees for Services Accounting$8,610$6,390-$15,000
Other Expenses$278$13,406-$13,406
Advertising-$10,339-$10,339
All Other Expenses$7,035$2,886-$9,921
Insurance-$6,938-$6,938
Fees for Services Other$2,229$771-$3,000
Conferences and Meetings$2,367--$2,367
Total Functional Expenses$831,687$522,891$0$1,354,578
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
Right of Use Asset$188,100
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

The organization has members that are comprised of local businesses and hotels.

Form 990, Page 6, Part VI, Line 7A

The board of governors are nominated by and voted on by current board of governors.

Form 990, Page 6, Part VI, Line 11B

The audited financial statements and a copy of form 990 are provided to the governing board and are reviewed prior to the submission of form 990.

Form 990, Page 6, Part VI, Line 15A

The executive committee has reviewed the compensation levels of comparable organizations as well as taken into consideration the cost of living locally as the basis for setting compensation.

Form 990, Page 6, Part VI, Line 19

The organization provides its governing documents to the public through direct request.

Filing and Contact Details

Filer

Filer Name
Vail Valley Partnership
EIN
84-0535997
Phone
9704761000
Address
97 MAIN STREET STE E201, EDWARDS, CO 81632

Signing Officer

Name
Chris Romer
Title
CEO
Phone
9704774016
Signed
2024-06-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Herron
Formed
1964
Legal Domicile
Co
Voting Board Members
15
Independent Board Members
15
Employees
10
Volunteers
15

Preparer

Firm
Bivins & Bunyak Cpas Pllc
Address
5400 WARD RD STE 101, ARVADA, CO 80002-4951
Preparer
J Elbert Bivins Iv CPA
Phone
3035780285
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Our mission is focused around five primary goals: building communities to which residents, visitors and investors are attracted; promoting the communities; striving to ensure future prosperity via a pro-business climate; representing the unified voice of the employer community; and reducing transactional friction through well-functioning networks.

Form 990, Page 2, Part III, Line 4A

Vail valley partnership is dedicated to ensuring local business success and fostering regional economic vitality by offering local business tools & resources, promoting the eagle river valley to destination guests, and initiating economic development efforts. The partnership's efforts in the community include three distinct yet connected roles: economic growth & advocacy- we work to ensure the vail valley's economic health stays strong for years to come. We work to help existing vail valley businesses thrive and recruit new businesses that have the potential to support our local economy. Our primary focus areas include business retention & workforce and talent pipeline development. Regional chamber of commerce- we work to provide the valley's businesses with networking, educational, and collaborative programming opportunities with the goal of strengthening our local community. Our primary focus areas include educational programming, advocacy, networking & connections, and other small business support efforts. Tourism development- we work to promote the entire vail valley as a year-round destination to potential in-state, out-of-state and international visitors through visitvailvalley.com. Our primary focus areas are to attract groups and meetings from all over the country to the vail valley and to inform leisure guests on attractions throughout the eagle river valley. Leading economic resiliency: it is increasingly apparent that regional economic prosperity is linked to an area's ability to prevent, withstand, and quickly recover from major disruptions (i.e., 'shocks') to its economic base. Vail valley partnership serves as a responsive participant in economic recovery efforts by serving as an information hub by collecting data and convening the appropriate players to facilitate recovery post-disruption. We help our government & special districts as a conduit to the business community, and our business community as a voice to government officials.

Form 990, Page 2, Part III, Line 4D

SEE SCHEDULE O

Form 990, Part XI, Line 9

Adjustment for mhc -2,948

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IRS990/Desc0VAIL VALLEY PARTNERSHIP IS DEDICATED TO ENSURING LOCAL BUSINESS SUCCESS AND FOSTERING REGIONAL ECONOMIC VITALITY BY OFFERING LOCAL BUSINESS TOOLS & RESOURCES, PROMOTING THE EAGLE RIVER VALLEY TO DESTINATION GUESTS, AND INITIATING ECONOMIC DEVELOPMENT EFFORTS. THE PARTNERSHIP'S EFFORTS IN THE COMMUNITY INCLUDE THREE DISTINCT YET CONNECTED ROLES: ECONOMIC GROWTH & ADVOCACY- WE WORK TO ENSURE THE VAIL VALLEY'S ECONOMIC HEALTH STAYS STRONG FOR YEARS TO COME. WE WORK TO HELP EXISTING VAIL VALLEY BUSINESSES THRIVE AND RECRUIT NEW BUSINESSES THAT HAVE THE POTENTIAL TO SUPPORT OUR LOCAL ECONOMY. OUR PRIMARY FOCUS AREAS INCLUDE BUSINESS RETENTION & WORKFORCE AND TALENT PIPELINE DEVELOPMENT. REGIONAL CHAMBER OF COMMERCE- WE WORK TO PROVIDE THE VALLEY'S BUSINESSES WITH NETWORKING, EDUCATIONAL, AND COLLABORATIVE PROGRAMMING OPPORTUNITIES WITH THE GOAL OF STRENGTHENING OUR LOCAL COMMUNITY. OUR PRIMARY FOCUS AREAS INCLUDE EDUCATIONAL PROGRAMMING, ADVOCACY, NETWORKING & CONNECTIONS, AND OTHER SMALL BUSINESS SUPPORT EFFORTS. TOURISM DEVELOPMENT- WE WORK TO PROMOTE THE ENTIRE VAIL VALLEY AS A YEAR-ROUND DESTINATION TO POTENTIAL IN-STATE, OUT-OF-STATE AND INTERNATIONAL VISITORS THROUGH VISITVAILVALLEY.COM. OUR PRIMARY FOCUS AREAS ARE TO ATTRACT GROUPS AND MEETINGS FROM ALL OVER THE COUNTRY TO THE VAIL VALLEY AND TO INFORM LEISURE GUESTS ON ATTRACTIONS THROUGHOUT THE EAGLE RIVER VALLEY. LEADING ECONOMIC RESILIENCY: IT IS INCREASINGLY APPARENT THAT REGIONAL ECONOMIC PROSPERITY IS LINKED TO AN AREA'S ABILITY TO PREVENT, WITHSTAND, AND QUICKLY RECOVER FROM MAJOR DISRUPTIONS (I.E., 'SHOCKS') TO ITS ECONOMIC BASE. VAIL VALLEY PARTNERSHIP SERVES AS A RESPONSIVE PARTICIPANT IN ECONOMIC RECOVERY EFFORTS BY SERVING AS AN INFORMATION HUB BY COLLECTING DATA AND CONVENING THE APPROPRIATE PLAYERS TO FACILITATE RECOVERY POST-DISRUPTION. WE HELP OUR GOVERNMENT & SPECIAL DISTRICTS AS A CONDUIT TO THE BUSINESS COMMUNITY, AND OUR BUSINESS COMMUNITY AS A VOICE TO GOVERNMENT OFFICIALS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OUR MISSION IS FOCUSED AROUND FIVE PRIMARY GOALS: BUILDING COMMUNITIES TO WHICH RESIDENTS, VISITORS AND INVESTORS ARE ATTRACTED; PROMOTING THE COMMUNITIES; STRIVING TO ENSURE FUTURE PROSPERITY VIA A PRO-BUSINESS CLIMATE; REPRESENTING THE UNIFIED VOICE OF THE EMPLOYER COMMUNITY; AND REDUCING TRANSACTIONAL FRICTION THROUGH WELL-FUNCTIONING NETWORKS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1VAIL VALLEY PARTNERSHIP IS DEDICATED TO ENSURING LOCAL BUSINESS SUCCESS AND FOSTERING REGIONAL ECONOMIC VITALITY BY OFFERING LOCAL BUSINESS TOOLS & RESOURCES, PROMOTING THE EAGLE RIVER VALLEY TO DESTINATION GUESTS, AND INITIATING ECONOMIC DEVELOPMENT EFFORTS. THE PARTNERSHIP'S EFFORTS IN THE COMMUNITY INCLUDE THREE DISTINCT YET CONNECTED ROLES: ECONOMIC GROWTH & ADVOCACY- WE WORK TO ENSURE THE VAIL VALLEY'S ECONOMIC HEALTH STAYS STRONG FOR YEARS TO COME. WE WORK TO HELP EXISTING VAIL VALLEY BUSINESSES THRIVE AND RECRUIT NEW BUSINESSES THAT HAVE THE POTENTIAL TO SUPPORT OUR LOCAL ECONOMY. OUR PRIMARY FOCUS AREAS INCLUDE BUSINESS RETENTION & WORKFORCE AND TALENT PIPELINE DEVELOPMENT. REGIONAL CHAMBER OF COMMERCE- WE WORK TO PROVIDE THE VALLEY'S BUSINESSES WITH NETWORKING, EDUCATIONAL, AND COLLABORATIVE PROGRAMMING OPPORTUNITIES WITH THE GOAL OF STRENGTHENING OUR LOCAL COMMUNITY. OUR PRIMARY FOCUS AREAS INCLUDE EDUCATIONAL PROGRAMMING, ADVOCACY, NETWORKING & CONNECTIONS, AND OTHER SMALL BUSINESS SUPPORT EFFORTS. TOURISM DEVELOPMENT- WE WORK TO PROMOTE THE ENTIRE VAIL VALLEY AS A YEAR-ROUND DESTINATION TO POTENTIAL IN-STATE, OUT-OF-STATE AND INTERNATIONAL VISITORS THROUGH VISITVAILVALLEY.COM. OUR PRIMARY FOCUS AREAS ARE TO ATTRACT GROUPS AND MEETINGS FROM ALL OVER THE COUNTRY TO THE VAIL VALLEY AND TO INFORM LEISURE GUESTS ON ATTRACTIONS THROUGHOUT THE EAGLE RIVER VALLEY. LEADING ECONOMIC RESILIENCY: IT IS INCREASINGLY APPARENT THAT REGIONAL ECONOMIC PROSPERITY IS LINKED TO AN AREA'S ABILITY TO PREVENT, WITHSTAND, AND QUICKLY RECOVER FROM MAJOR DISRUPTIONS (I.E., 'SHOCKS') TO ITS ECONOMIC BASE. VAIL VALLEY PARTNERSHIP SERVES AS A RESPONSIVE PARTICIPANT IN ECONOMIC RECOVERY EFFORTS BY SERVING AS AN INFORMATION HUB BY COLLECTING DATA AND CONVENING THE APPROPRIATE PLAYERS TO FACILITATE RECOVERY POST-DISRUPTION. WE HELP OUR GOVERNMENT & SPECIAL DISTRICTS AS A CONDUIT TO THE BUSINESS COMMUNITY, AND OUR BUSINESS COMMUNITY AS A VOICE TO GOVERNMENT OFFICIALS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SEE SCHEDULE O
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION HAS MEMBERS THAT ARE COMPRISED OF LOCAL BUSINESSES AND HOTELS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD OF GOVERNORS ARE NOMINATED BY AND VOTED ON BY CURRENT BOARD OF GOVERNORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE AUDITED FINANCIAL STATEMENTS AND A COPY OF FORM 990 ARE PROVIDED TO THE GOVERNING BOARD AND ARE REVIEWED PRIOR TO THE SUBMISSION OF FORM 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE EXECUTIVE COMMITTEE HAS REVIEWED THE COMPENSATION LEVELS OF COMPARABLE ORGANIZATIONS AS WELL AS TAKEN INTO CONSIDERATION THE COST OF LIVING LOCALLY AS THE BASIS FOR SETTING COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE ORGANIZATION PROVIDES ITS GOVERNING DOCUMENTS TO THE PUBLIC THROUGH DIRECT REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ADJUSTMENT FOR MHC -2,948
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
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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.$0.69$0.51$0.18$1.64$1.57$0.06
2023Detailed filing. Detailed filing data is available for this year.$0.56$0.44$0.12$1.26$1.35$0.09
2022Detailed filing. Detailed filing data is available for this year.$0.67$0.45$0.21$1.16$1.35$0.19
2021Detailed filing. Detailed filing data is available for this year.$0.69$0.28$0.41$1.38$1.18$0.20
2020Detailed filing. Detailed filing data is available for this year.$0.39$0.18$0.21$1.34$1.24$0.09
2019Detailed filing. Detailed filing data is available for this year.$0.36$0.24$0.11$1.35$1.35$0.00
2018Detailed filing. Detailed filing data is available for this year.$0.29$0.17$0.11$1.43$1.32$0.10
2017Detailed filing. Detailed filing data is available for this year.$0.32$0.31$0.01$1.39$1.39$0.00
2016Detailed filing. Detailed filing data is available for this year.$0.19$0.18$0.01$1.49$1.41$0.08
2015Detailed filing. Detailed filing data is available for this year.$0.20$0.27$0.07$1.44$1.52$0.08
2014Detailed filing. Detailed filing data is available for this year.$0.18$0.16$0.01$1.69$1.59$0.10
2013Detailed filing. Detailed filing data is available for this year.$0.28$0.37$0.09$1.53$1.49$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.18$0.30$0.12$1.37
2011Summary only. Only limited summary data is available for this year.$0.25$0.24$0.00$1.16$1.09$0.07
2010Summary only. Only limited summary data is available for this year.$0.25$0.24$0.00$1.16$1.09$0.07