Civic Intelligence

Utah Athletic Foundation

990 • Fiscal year 2017 • EIN 84-1367913

May 01, 2016 to Apr 30, 2017 • Filed on Mar 14, 2018

PO Box 980337Park City, UT 84098

(435) 658-4200

Siviq Scores

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

Liabilities / Assets

10th percentile

0.02x

Higher debt load relative to assets than 10% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Liabilities / Revenue

15th percentile

0.11x

Higher debt load relative to revenue than 15% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Net Margin

6th percentile

-30%

Higher net margin than 6% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Top Officer Pay

16th percentile

$231,011

Higher top officer pay than 16% of similar nonprofits.

Top officer pay equals 1.6% of source-year revenue.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2017

Asset Growth

31st percentile

1.9%

Faster asset growth than 31% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Revenue Growth

85th percentile

31%

Faster revenue growth than 85% of similar nonprofits.

2017 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2016 to 2017

Assets

Up

$106,119,379

Up $2,016,026 (+1.9%) from 2016

Net Assets

Up

$104,486,483

Up $1,964,085 (+1.9%) from 2016

Liabilities

Up

$1,632,896

Up $51,941 (+3.3%) from 2016

Revenue

Up

$14,525,205

Up $3,444,967 (+31%) from 2016

Expenses

Up

$18,889,935

Up $3,317,682 (+21%) from 2016

Net Income

Up

-$4,364,730

Up $127,285 (+2.8%) from 2016

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2011: $116,459,753Liabilities 2011: $764,119Net Assets 2011: $115,695,6342011Assets 2012: $108,846,821Liabilities 2012: $1,102,116Net Assets 2012: $107,744,7052012Assets 2013: $108,723,272Liabilities 2013: $1,276,151Net Assets 2013: $107,447,1212013Assets 2014: $108,425,713Liabilities 2014: $1,259,159Net Assets 2014: $107,166,5542014Assets 2015: $110,538,718Liabilities 2015: $2,565,508Net Assets 2015: $107,973,2102015Assets 2016: $104,103,353Liabilities 2016: $1,580,955Net Assets 2016: $102,522,3982016Assets 2017: $106,119,379Liabilities 2017: $1,632,896Net Assets 2017: $104,486,4832017Assets 2018: $110,771,685Liabilities 2018: $3,215,737Net Assets 2018: $107,555,9482018Assets 2019: $128,081,712Liabilities 2019: $20,282,509Net Assets 2019: $107,799,2032019Assets 2020: $123,494,954Liabilities 2020: $21,774,280Net Assets 2020: $101,720,6742020Assets 2021: $131,027,718Liabilities 2021: $22,679,916Net Assets 2021: $108,347,8022021Assets 2022: $132,812,744Liabilities 2022: $20,975,850Net Assets 2022: $111,836,8942022Assets 2023: $153,243,563Liabilities 2023: $25,577,323Net Assets 2023: $127,666,2402023Assets 2024: $154,133,501Liabilities 2024: $9,274,332Net Assets 2024: $144,859,1692024Assets 2025: $152,780,438Liabilities 2025: $9,607,076Net Assets 2025: $143,173,3622025

Highlighted filing

2017

Assets$106,119,379
Liabilities$1,632,896
Net Assets$104,486,483

Operations Trend

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

$60M$40M$20M$0-$20MExpenses 2011: $13,144,8842011Expenses 2012: $13,792,8892012Expenses 2013: $13,922,1022013Revenue 2014: $8,687,872Expenses 2014: $15,373,732Net Income 2014: -$6,685,8602014Revenue 2015: $11,590,313Expenses 2015: $14,603,345Net Income 2015: -$3,013,0322015Revenue 2016: $11,080,238Expenses 2016: $15,572,253Net Income 2016: -$4,492,0152016Revenue 2017: $14,525,205Expenses 2017: $18,889,935Net Income 2017: -$4,364,7302017Revenue 2018: $20,735,132Expenses 2018: $22,706,457Net Income 2018: -$1,971,3252018Revenue 2019: $21,249,551Expenses 2019: $24,692,907Net Income 2019: -$3,443,3562019Revenue 2020: $17,876,270Expenses 2020: $25,578,806Net Income 2020: -$7,702,5362020Revenue 2021: $18,025,833Expenses 2021: $24,297,252Net Income 2021: -$6,271,4192021Revenue 2022: $41,739,764Expenses 2022: $30,589,383Net Income 2022: $11,150,3812022Revenue 2023: $52,468,703Expenses 2023: $33,167,193Net Income 2023: $19,301,5102023Revenue 2024: $54,191,388Expenses 2024: $37,318,671Net Income 2024: $16,872,7172024Revenue 2025: $34,448,824Expenses 2025: $38,207,924Net Income 2025: -$3,759,1002025

Highlighted filing

2017

Revenue$14,525,205
Expenses$18,889,935
Net Income-$4,364,730
Jump To
Filing Snapshot
Filing Period
May 1, 2016 to Apr 30, 2017
Signed
Mar 14, 2018
Return Version
2016v3.0
Gross Receipts
$15,819,303
Mission and Program Overview

Mission

Foster development of winter sports in utah and manage and maintain the utah olympic park, utah olympic oval and soldier hollow nordic center.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$59,014,026$60,006,204▲ $992,178
Land, Buildings, and Equipment, Net$41,110,000$40,235,430▼ $874,570
Cash and Non-Interest-Bearing Accounts$373,224$2,869,800▲ $2,496,576
Prepaid Expenses and Deferred Charges$1,461,580$1,333,710▼ $127,870
Savings and Temporary Cash Investments$780,496$502,406▼ $278,090
Accounts Receivable$231,367$372,614▲ $141,247
Pledges and Grants Receivable$564,535$255,455▼ $309,080
Inventories for Sale or Use$148,325$123,960▼ $24,365
Total Assets$104,103,353$106,119,379▲ $2,016,026
Other Assets Total$419,800$419,800→ $0
Liabilities
Accounts Payable and Accrued Expenses$1,262,493$1,235,513▼ $26,980
Deferred Revenue$318,462$397,383▲ $78,921
Total Liabilities$1,580,955$1,632,896▲ $51,941
Net Assets / Fund Balance
Unrestricted Net Assets$102,522,398$102,266,494▼ $255,904
Temporarily Rstr Net Assets$0$2,219,989▲ $2,219,989
Total Net Assets Fund Balance$102,522,398$104,486,483▲ $1,964,085
Total Liabilities and Net Assets / Fund Balance$104,103,353$106,119,379▲ $2,016,026

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$28,845,098$41,555,110$70,400,208
Equipment$5,132,443$7,393,951$12,526,394
Other Land Buildings$2,435,817$3,509,112$5,944,929
Land$2,977,566-$2,977,566
Leasehold Improvements$844,506$1,216,620$2,061,126
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Colin HiltonPresident & CEOFT$215,595$15,416$231,011
Marc NormanVice PresidentFT$127,339$11,664$139,003
Karla KnoxVice PresidentFT$89,619$13,412$103,031
Lisa RasmussenVice PresidentFT$47,559$3,560$51,119

Board Members and Trustees

NameTitle
Luke BodensteinerBoard Chair
Becky KearnsBoard Member
Bob WheatonBoard Member
Brett HopkinsBoard Member
Catherine Raney NormanBoard Member
Courtland NelsonBoard Member
Dave WinderBoard Member
Eric HutchingsBoard Member
Grant ThomasBoard Member
John LarsonBoard Member
Natalie GochnourBoard Member
Spencer F EcclesBoard Member
Vicki VarelaBoard Member
Mike CooperAdvisor
Revenue and Support

Revenue Composition

Contributions and Grants
$2,575,494
Program Service Revenue
$10,426,820
Investment Income
$1,484,381
Other Revenue
$38,510
All Other Contributions
$2,490,444
Change in Net Assets
$-4,364,730

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$492,024Fair Market Value (FMV)
Total Noncash Contributions1$492,024-

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,408,006
Revenue Not Reported on Financial Statements
$117,199
Revenue Not Reported on Form 990
$4,319,382
Other Revenue Adjustments
$-769
Total Revenue per Audited Statements
$18,727,388
Total Revenue per Form 990
$14,525,205
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,603,426
Salaries, Compensation, and Employee Benefits$8,286,509
Total Fundraising Expense$102,915
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,785,600$879,245$97,500$7,762,345
Depreciation Depletion$3,856,828$19,438-$3,876,266
Occupancy$1,863,187--$1,863,187
All Other Expenses$615,304$58,940$5,415$679,659
Insurance$648,052--$648,052
Current Officers, Directors, Trustees, and Key Employees$524,164--$524,164
Other Expenses$342,294--$342,294
Advertising$340,084--$340,084
Fees for Services Legal$4,903$153,041-$157,944
Information Technology$10,364$143,254-$153,618
Travel$27,567$48,125-$75,692
Office Expenses$43,459$4,425-$47,884
Total Functional Expenses$17,480,552$1,306,468$102,915$18,889,935

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$18,983,294
Total Expenses per Form 990$18,889,935
Expenses per Audited Statements$18,845,696
Expenses Not Reported on Form 990$137,598
Expenses Not Reported on Financial Statements$44,239
Other Expense Adjustments$44,239
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$83,518
Fundraising Direct Expenses$45,008
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$103,568$83,518$45,008$38,510
Total Events$103,568$83,518$45,008$38,510
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
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 A, Line 2

Marc norman (officer) is married to catherine raney norman (director).

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

Form 990 is provided to the organization's audit committee and the board for detailed review and discussion prior to filing.

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

The conflict of interest policy form is reviewed and signed annually.

Form 990, Part VI, Section B, Line 15

Ceo compensation - merit-based increases to ceo compensation and bonus compensation are determined by a uaf board compensation committee that meets annually at the end of the uaf fiscal year and before the july board meeting. The uaf compensation committee utilizes nationwide comparison benchmark data for setting the base salary level. They also complete a review of performance goals for additional performance-based bonus compensation. The chair of the uaf board compensation committee then provides a written confirmation of the annual determination to the vp of finance and human resources manager for documentation and auditing purposes. Officers and key employees compensation - the compensation structure for the uaf is based on job descriptions that are set by the employee and supervisor with final approval by the ceo and human resources. Each job is then classified into a pay range, with each range having a minimum and maximum pay level. Ranges are developed by a blend of national independent survey data, economic business conditions, and compensation philosophy. Final determination of a pay grade may also take into account pay for similar jobs in closely-related organizations and internal economic conditions. All full-time and part-time employees are elegible for annual merit increases based upon performance. The merit increases are determined based on the recommendations of management, nationally independent salary survey data, economic business conditions, and compensation philosophy. All full-time exempt employees are eligible for annual bonus compensation based upon performance and organizational goal attainment (as determned by the ceo) and by individual goal attainment.

Form 990, Part VI, Section C, Line 19

These informational documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Utah Athletic Foundation
EIN
84-1367913
Phone
4356584200
Address
PO BOX 980337, PARK CITY, UT 84098
Doing Business As
Utah Olympic Legacy Foundation

Signing Officer

Name
Colin Hilton
Title
President & CEO
Phone
4356584200
Signed
2018-03-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Colin Hilton
Formed
1997
Legal Domicile
Ut
Voting Board Members
11
Independent Board Members
10
Employees
671
Volunteers
100

Preparer

Firm
Tanner LLC
Address
36 S STATE STREET SUITE 600, SALT LAKE CITY, UT 84111
Preparer
Jodie Hewitson
Phone
8015327444
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Increase in temporarily restricted net assets 2,219,989.

Financial Statement Notes

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by uaf and recognize a tax liability if uaf has taken an uncertain position that more likely than not would not be sustained upon examination by the applicable taxing authorities. Management has analyzed the tax positions taken by uaf and has concluded that, as of april 30, 2017 and 2016, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Gain on sale of fixed assets 44,239. Direct fundraising expenses -45,008.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Direct fundraising expenses 45,008.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Gain on sale of fixed assets 44,239.

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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/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
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IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13ADVISOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14PRESIDENT & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt15VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt17VICE PRESIDENT
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0FOSTER DEVELOPMENT OF WINTER SPORTS IN UTAH AND MANAGE AND MAINTAIN THE UTAH OLYMPIC PARK, UTAH OLYMPIC OVAL AND SOLDIER HOLLOW NORDIC CENTER.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
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IRS990/NoncashContributionsAmt0492024
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/ProgramServicesAmt01863187
IRS990/OccupancyGrp/TotalAmt01863187
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IRS990/OfficeExpensesGrp/ProgramServicesAmt043459
IRS990/OfficeExpensesGrp/TotalAmt047884
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt0419800
IRS990/OtherAssetsTotalGrp/EOYAmt0419800
IRS990/OtherChangesInNetAssetsAmt02219989
IRS990/OtherExpensesGrp/Desc0SPORT EVENT COSTS
IRS990/OtherExpensesGrp/Desc1MAINTENANCE & REPAIR CO
IRS990/OtherExpensesGrp/Desc2OTHER PROGRAM COSTS
IRS990/OtherExpensesGrp/Desc3COST OF INVENTORY
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IRS990/OtherExpensesGrp/ProgramServicesAmt1731344
IRS990/OtherExpensesGrp/ProgramServicesAmt2430115
IRS990/OtherExpensesGrp/ProgramServicesAmt3342294
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IRS990/OtherExpensesGrp/TotalAmt1731344
IRS990/OtherExpensesGrp/TotalAmt2430115
IRS990/OtherExpensesGrp/TotalAmt3342294
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt097500
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0879245
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IRS990/OtherSalariesAndWagesGrp/TotalAmt07762345
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0564535
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IRS990/PrincipalOfficerNm0COLIN HILTON
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IRS990/ProgramServiceRevenueGrp/BusinessCd1713940
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IRS990/ProgramServiceRevenueGrp/Desc0PUBLIC PROGRAMS & ACTIVITIES
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IRS990/ProgramServiceRevenueGrp/Desc2FACILITY OPERATIONS & TRAINING
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12029389
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12029389
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt21227344
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0662798
IRS990/ProgSrvcAccomActy2Grp/Desc0YOUTH SPORT PROGRAMS AND SPORT EVENTS: THE UTAH OLYMPIC PARK, THE UTAH OLYMPIC OVAL AND SOLDIER HOLLOW NORDIC CENTER OFFER HIGH QUALITY WINTER SPORT DEVELOPMENT PROGRAMS FOR YOUTH THAT EMBRACE LONG TERM ATHLETE DEVELOPMENT PRINCIPLES AND THAT GET PEOPLE OF ALL AGES AND ABILITIES ACTIVE IN SPORT. THESE PROGRAMS SHOWCASE OUR LOCALLY TRAINED ATHLETES AND INVOLVE OUR LOCAL COMMUNITIES.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt05647218
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt02029389
IRS990/ProgSrvcAccomActy3Grp/Desc0PUBLIC PROGRAM AND ACTIVITIES: THE UTAH OLYMPIC PARK, THE UTAH OLYMPIC OVAL AND SOLDIER HOLLOW NORDIC CENTER HAVE EXPERIENCED INCREASED PUBLIC USE OF PROGRAMS, SUCH AS PUBLIC SKATE SESSIONS, BOBSLED AND SKELETON RIDES, PUBLIC NORDIC SKIING LESSONS AND PUBLIC TOURS. THESE SIGNIFICANT INCREASES IN GROUP EVENTS REFLECT A GROWING AWARENESS AND INTEREST IN OUR VENUE OFFERINGS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt04683353
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt07170087
IRS990/ProgSrvcAccomActyOtherGrp/Desc0SPORT AND PHYSICAL FITNESS EDUCATION
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IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt00
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IRS990/PYOtherRevenueAmt00
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IRS990/PYTotalExpensesAmt015572253
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IRS990/PYTotalRevenueAmt011080238
IRS990/QuidProQuoContributionsInd01
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0216432
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0383311
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt0561301
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IRS990ScheduleA/PublicSupportPY170Pct00.71450
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0216432
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0383311
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$153$9.61$143$34.4$38.2$3.76
2024Detailed filing. Detailed filing data is available for this year.$154$9.27$145$54.2$37.3$16.9
2023Detailed filing. Detailed filing data is available for this year.$153$25.6$128$52.5$33.2$19.3
2022Detailed filing. Detailed filing data is available for this year.$133$21.0$112$41.7$30.6$11.2
2021Detailed filing. Detailed filing data is available for this year.$131$22.7$108$18.0$24.3$6.27
2020Detailed filing. Detailed filing data is available for this year.$123$21.8$102$17.9$25.6$7.70
2019Detailed filing. Detailed filing data is available for this year.$128$20.3$108$21.2$24.7$3.44
2018Detailed filing. Detailed filing data is available for this year.$111$3.22$108$20.7$22.7$1.97
2017Detailed filing. Detailed filing data is available for this year.$106$1.63$104$14.5$18.9$4.36
2016Detailed filing. Detailed filing data is available for this year.$104$1.58$103$11.1$15.6$4.49
2015Detailed filing. Detailed filing data is available for this year.$111$2.57$108$11.6$14.6$3.01
2014Detailed filing. Detailed filing data is available for this year.$108$1.26$107$8.69$15.4$6.69
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$1.28$107$13.9
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$109$1.10$108$13.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$116$0.76$116$13.1