Civic Intelligence

Equaspace

990 • Fiscal year 2022 • EIN 84-2176692

Jan 01, 2022 to Dec 31, 2022 • Filed on Sep 20, 2023

Organization ProfileEQUASPACE.ORG
PO Box 4458St Paul, MN 55104

(612) 804-3986

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.08x

Higher debt load relative to assets than 53% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

34th percentile

0.03x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

82nd percentile

33%

Higher net margin than 82% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

82nd percentile

$141,539

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 11.1% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

100th percentile

2837%

Faster asset growth than 100% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

100th percentile

3219%

Faster revenue growth than 100% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets53rd percentile

Assets

Flat

$456,428

Flat from 2022

Net Assets

Flat

$420,251

Flat from 2022

Liabilities

Flat

$36,177

Flat from 2022

Revenue And Expenses
Liabilities / Revenue34th percentileNet Margin82nd percentile

Revenue

Flat

$1,277,672

Flat from 2022

Expenses

Flat

$852,363

Flat from 2022

Net Income

Flat

$425,309

Flat from 2022

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2019: $6,569Liabilities 2019: $2,4652019Assets 2020: $661Liabilities 2020: $8,1002020Assets 2021: $15,542Liabilities 2021: $20,600Net Assets 2021: -$5,0582021Assets 2022: $456,428Liabilities 2022: $36,177Net Assets 2022: $420,2512022Assets 2022: $456,428Liabilities 2022: $36,177Net Assets 2022: $420,2512022Assets 2023: $449,605Liabilities 2023: $46,418Net Assets 2023: $403,1872023Assets 2024: $2,584,944Liabilities 2024: $2,479,394Net Assets 2024: $105,5502024

Highlighted filing

2022

Assets$456,428
Liabilities$36,177
Net Assets$420,251
Open 2022 Filing

Operations Trend

Revenue Growth100th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2019: $20,010Expenses 2019: $15,906Net Income 2019: $4,1042019Revenue 2020: $70,001Expenses 2020: $73,444Net Income 2020: -$3,4432020Revenue 2021: $38,500Expenses 2021: $36,119Net Income 2021: $2,3812021Revenue 2022: $1,277,672Expenses 2022: $852,363Net Income 2022: $425,3092022Revenue 2022: $1,277,672Expenses 2022: $852,363Net Income 2022: $425,3092022Revenue 2023: $214,120Expenses 2023: $231,184Net Income 2023: -$17,0642023Revenue 2024: $1,356,531Expenses 2024: $1,654,168Net Income 2024: -$297,6372024

Highlighted filing

2022

Revenue$1,277,672
Expenses$852,363
Net Income$425,309
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Sep 20, 2023
Return Version
2022v5.0
Gross Receipts
$1,277,672
Mission and Program Overview

Mission

Equaspace is a nonprofit center start-up. The mission is to provide a platform of high functioning work spaces, shared resources and a platform for collaborative opportunities for 501(c)3's. We work to allow our nonprofit tenants to expand capacity and achieve more mission like many other non profit centers in the united states.as a start-up, our expenses to date are related to market and real estate research, gathering of community input and design planning. We will need to add fundraising, lobbying, staff and other expenses to move into the next phase.

To provide a platform of high functioning work spaces, shared resources and a platform for collaborative opportunities for 501(c)3's.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$15,542$430,774▲ $415,232
Accounts Receivable-$21,501-
Prepaid Expenses and Deferred Charges-$4,153-
Total Assets$15,542$456,428▲ $440,886
Liabilities
Accounts Payable and Accrued Expenses$20,600$36,177▲ $15,577
Total Liabilities$20,600$36,177▲ $15,577
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$400,000-
Net Assets Without Donor Restrictions$-5,058$20,251▲ $25,309
Total Net Assets Fund Balance$-5,058$420,251▲ $425,309
Total Liabilities and Net Assets / Fund Balance$15,542$456,428▲ $440,886
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Sarah ClyneExecutive DirectorFT$141,539$141,539

Board Members and Trustees

NameTitle
Susan KellyFounder and Board Chair
Ron LattinVice Chair
Imee CambroneroDirector
Mike LoganDirector
Linda IrelandSecretary and Treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,277,540
Program Service Revenue
$0
Investment Income
$132
Other Revenue
$0
All Other Contributions
$1,277,540
Change in Net Assets
$425,309

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,277,672
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,277,672
Total Revenue per Form 990
$1,277,672
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$692,410
Salaries, Compensation, and Employee Benefits$159,953
Total Fundraising Expense$40,111
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$483,508--$483,508
Current Officers, Directors, Trustees, and Key Employees$113,231$28,308-$141,539
Advertising$40,111-$40,111$80,222
Occupancy$51,190--$51,190
Fees for Services Legal$41,382--$41,382
Office Expenses$14,126$472-$14,598
Payroll Taxes$9,053$2,263-$11,316
Fees for Services Accounting-$9,595-$9,595
Insurance$9,490--$9,490
Other Salaries and Wages$4,923$1,230-$6,153
Fees for Services Other$2,425--$2,425
Other Employee Benefits$756$189-$945
Total Functional Expenses$770,195$42,057$40,111$852,363

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$852,363
Total Expenses per Audited Statements$852,363
Total Expenses per Form 990$852,363
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
Yes
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no committees with the authority to act on behalf of the organization.”

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

“The board reviews the form 990 at a board meeting and a vote is taken to approve the 990.”

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

“The board chair sends out the conflict of interest policy annually to board and staff and signed copies are kept on file.”

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

“The board reviews accomplishments of the executive director and the board has reviewed market rates and discusses compensation annually.”

Form 990, Part VI, Section C, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Equaspace
EIN
84-2176692
Phone
6128043986
Address
PO BOX 4458, ST PAUL, MN 55104

Signing Officer

Name
Sarah Clyne
Title
Executive Director
Phone
6128043986
Signed
2023-09-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Clyne
Formed
2019
Legal Domicile
Mn
Voting Board Members
5
Independent Board Members
5
Employees
1
Volunteers
5

Preparer

Firm
Cliftonlarsonallen Llp
Address
220 S 6TH STREET SUITE 300, MINNEAPOLIS, MN 55402
Preparer
Heidi Grinde
Phone
6123764500
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The organization has a tax-exempt status under section 501(c)(3) of the internal revenue code and has adopted accounting for uncertainty in income taxes, asc 740-10. The organization's policy is to evaluate uncertain tax positions, at least annually, for the potential for income tax exposure from unrelated business income or from loss of nonprofit status. The organization continues to operate consistent with its original exemption application and each year takes the necessary actions to maintain its exempt status. It has been classified as an organization that is not a private foundation under the internal revenue code and charitable contributions by donors are tax deductible. In compliance with its exempt status, the organization annually files a return of organization exempt from income tax (form 990).”

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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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0IN 2019, PUBLIC CHARITY STATUS 170(B)(1)(A)(VI) WAS GRANTED TO EQUASPACE. THE ORGANIZATION HAS A LONG START-UP PHASE AS IT REQUIRES SIGNIFICANT MARKET AND REAL ESTATE RESEARCH. ON-GOING START-UP EXPENSES WILL CONTINUE THROUGH DESIGN, STRATEGY AND FUNDRAISING. EQUASPACE SEEKS TO GAIN SITE CONTROL OVER OFFICE/WORK SPACES IN ORDER TO FULFILL ITS MISSION OF PROVIDING HIGH FUNCTIONING WORK SPACES AND OTHER RELATED PROGRAMMING AND RESOURCES TO 501(C)3'S. IN FULL OPERATION, EQUASPACE WILL MEET THE 170(B)(1)(A)(VI) REQUIREMENTS OF 33 1/3% PUBLIC SUPPORT MINIMUM. IN THE INTERIM, THE ORGANIZATION MAY BE FUNDED BY LARGE GRANTS FROM A FEW FOUNDATIONS AND/OR THE GOVERNMENT.
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IRS990ScheduleC/MailingsMembersInd00
IRS990ScheduleC/Managers4912TaxAmt00
IRS990ScheduleC/MediaAdvertisementsInd00
IRS990ScheduleC/NotDescribedSection501c3Ind00
IRS990ScheduleC/OtherActivitiesAmt025000
IRS990ScheduleC/OtherActivitiesInd01
IRS990ScheduleC/PaidStaffOrManagementInd00
IRS990ScheduleC/PublicationsOrBroadcastInd00
IRS990ScheduleC/RalliesDemonstrationsInd00
IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION ENLISTED LOBBYING SERVICES TO SEEK STATE FUNDING TO ACQUIRE A BUILDING TO DEVELOP A NONPROFIT CENTER THAT WOULD PROVIDE CO-LOCATION SPACE, SHARED SERVICES AND AMENITIES, AND LEARNING OPPORTUNITIES FOR NON-PROFIT ORGANIZATIONS.
IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc0PART II-B, LINE 1:
IRS990ScheduleC/Tax4912Amt00
IRS990ScheduleC/TotalLobbyingExpendituresAmt025000
IRS990ScheduleC/VolunteersInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0852363
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01277672
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS A TAX-EXEMPT STATUS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS ADOPTED ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, ASC 740-10. THE ORGANIZATION'S POLICY IS TO EVALUATE UNCERTAIN TAX POSITIONS, AT LEAST ANNUALLY, FOR THE POTENTIAL FOR INCOME TAX EXPOSURE FROM UNRELATED BUSINESS INCOME OR FROM LOSS OF NONPROFIT STATUS. THE ORGANIZATION CONTINUES TO OPERATE CONSISTENT WITH ITS ORIGINAL EXEMPTION APPLICATION AND EACH YEAR TAKES THE NECESSARY ACTIONS TO MAINTAIN ITS EXEMPT STATUS. IT HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION UNDER THE INTERNAL REVENUE CODE AND CHARITABLE CONTRIBUTIONS BY DONORS ARE TAX DEDUCTIBLE. IN COMPLIANCE WITH ITS EXEMPT STATUS, THE ORGANIZATION ANNUALLY FILES A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990).
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt00
IRS990ScheduleD/TotalExpensesPerForm990Amt0852363
IRS990ScheduleD/TotalRevenuePerForm990Amt01277672
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01277672
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0852363
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD REVIEWS THE FORM 990 AT A BOARD MEETING AND A VOTE IS TAKEN TO APPROVE THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD CHAIR SENDS OUT THE CONFLICT OF INTEREST POLICY ANNUALLY TO BOARD AND STAFF AND SIGNED COPIES ARE KEPT ON FILE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD REVIEWS ACCOMPLISHMENTS OF THE EXECUTIVE DIRECTOR AND THE BOARD HAS REVIEWED MARKET RATES AND DISCUSSES COMPENSATION ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt015542
IRS990/TotalAssetsEOYAmt0456428
IRS990/TotalAssetsGrp/BOYAmt015542
IRS990/TotalAssetsGrp/EOYAmt0456428
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01277540
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt040111
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt042057
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0770195
IRS990/TotalFunctionalExpensesGrp/TotalAmt0852363
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt020600
IRS990/TotalLiabilitiesEOYAmt036177
IRS990/TotalLiabilitiesGrp/BOYAmt020600
IRS990/TotalLiabilitiesGrp/EOYAmt036177
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-5058
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0420251
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0770195
IRS990/TotalReportableCompFromOrgAmt0141539
IRS990/TotalRevenueGrp/ExclusionAmt0132
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01277672
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt015542
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0456428
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 4458
IRS990/USAddress/CityNm0ST PAUL
IRS990/USAddress/StateAbbreviationCd0MN
IRS990/USAddress/ZIPCd055104
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0EQUASPACE.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SARAH CLYNE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum06128043986
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-09-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0EQUASPACE
ReturnHeader/Filer/BusinessNameControlTxt0EQUA
ReturnHeader/Filer/EIN0842176692
ReturnHeader/Filer/PhoneNum06128043986
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 4458
ReturnHeader/Filer/USAddress/CityNm0ST PAUL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055104
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0220 S 6TH STREET SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MINNEAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd055402
ReturnHeader/PreparerPersonGrp/PhoneNum06123764500
ReturnHeader/PreparerPersonGrp/PreparationDt02023-08-30
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0HEIDI GRINDE
ReturnHeader/ReturnTs02023-09-22T14:40:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0SARAH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0CLYNE
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$456,428
Liabilities
$36,177
Net assets
$420,251
Revenue
$1,277,672
Expenses
$852,363
Net income
$425,309
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.58$2.48$0.11$1.36$1.65$0.30
2023Summary only. Only limited summary data is available for this year.$0.45$0.05$0.40$0.21$0.23$0.02
2022Detailed filing. Detailed filing data is available for this year.$0.46$0.04$0.42$1.28$0.85$0.43
2022Summary only. Only limited summary data is available for this year.$0.46$0.04$0.42$1.28$0.85$0.43
2021Detailed filing. Detailed filing data is available for this year.$0.02$0.02$0.01$0.04$0.04$0.00
2020Summary only. Only limited summary data is available for this year.$0.00$0.01$0.07$0.07$0.00
2019Summary only. Only limited summary data is available for this year.$0.01$0.00$0.02$0.02$0.00