Civic Intelligence

The Primavera Fund

990 • Fiscal year 2024 • EIN 85-3960380

Sep 01, 2023 to Aug 31, 2024 • Filed on Jan 17, 2025

PO Box 29384Philadelphia, PA 19125

(267) 908-1710

Siviq Scores

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

Liabilities / Assets

81st percentile

0.15x

Higher debt load relative to assets than 81% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

72nd percentile

0.02x

Higher debt load relative to revenue than 72% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

43rd percentile

0.1%

Higher net margin than 43% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

95th percentile

$68,239

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 15.0% of source-year revenue.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

58th percentile

6.0%

Faster asset growth than 58% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

35th percentile

-8.8%

Faster revenue growth than 35% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Up

$69,635

Up $3,964 (+6.0%) from 2023

Net Assets

Up

$59,237

Up $264 (+0.4%) from 2023

Liabilities

Up

$10,398

Up $3,700 (+55%) from 2023

Revenue

Down

$453,711

Down $43,662 (-8.8%) from 2023

Expenses

Up

$453,447

Up $5,133 (+1.1%) from 2023

Net Income

Down

$264

Down $48,795 (-99%) from 2023

Historical Trend

Balance Sheet Trend

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

$80K$60K$40K$20K$0Assets 2022: $18,017Liabilities 2022: $8,103Net Assets 2022: $9,9142022Assets 2023: $65,671Liabilities 2023: $6,698Net Assets 2023: $58,9732023Assets 2024: $69,635Liabilities 2024: $10,398Net Assets 2024: $59,2372024Assets 2025: $58,952Liabilities 2025: $11,030Net Assets 2025: $47,9222025

Highlighted filing

2024

Assets$69,635
Liabilities$10,398
Net Assets$59,237

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2022: $429,916Expenses 2022: $420,002Net Income 2022: $9,9142022Revenue 2023: $497,373Expenses 2023: $448,314Net Income 2023: $49,0592023Revenue 2024: $453,711Expenses 2024: $453,447Net Income 2024: $2642024Revenue 2025: $515,155Expenses 2025: $526,470Net Income 2025: -$11,3152025

Highlighted filing

2024

Revenue$453,711
Expenses$453,447
Net Income$264
Jump To
Filing Snapshot
Filing Period
Sep 1, 2023 to Aug 31, 2024
Signed
Jan 17, 2025
Return Version
2023v6.0
Gross Receipts
$453,711
Mission and Program Overview

Mission

The primavera fund (the "fund") provides funding and mentoring to young musicians in elementary through high school, in the greater philadelphia area who lack the financial wherewithal to engage in high quality music education. The fund supports all aspects of music education, including private lesson, youth orchestra, chamber music, music theory, and summer music camps.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$50,488$40,555▼ $9,933
Cash and Non-Interest-Bearing Accounts$2,973$22,444▲ $19,471
Pledges and Grants Receivable$10,244--
Accounts Receivable-$4,728-
Prepaid Expenses and Deferred Charges$1,966$1,908▼ $58
Total Assets$65,671$69,635▲ $3,964
Liabilities
Accounts Payable and Accrued Expenses$6,698$10,398▲ $3,700
Total Liabilities$6,698$10,398▲ $3,700
Net Assets / Fund Balance
Net Assets With Donor Restrictions$50,000$40,000▼ $10,000
Net Assets Without Donor Restrictions$8,973$19,237▲ $10,264
Total Net Assets Fund Balance$58,973$59,237▲ $264
Total Liabilities and Net Assets / Fund Balance$65,671$69,635▲ $3,964
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rachel SegalPresident anFT$62,370$5,869$68,239

Board Members and Trustees

NameTitle
Dorothy MannBoard Chair
Catherine BeesonBoard Member
Janis CampbellBoard Member
Richard UmbrechtBoard Member
Sophia WisniewskaBoard Member
Lyndsie WilsonSecretary
Chris ArcherTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$453,644
Program Service Revenue
$0
Investment Income
$67
Other Revenue
$0
All Other Contributions
$435,973
Change in Net Assets
$264
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$230,367
Salaries, Compensation, and Employee Benefits$223,080
Total Fundraising Expense$24,260
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$107,852$8,742$11,509$128,103
Fees for Services Other$83,413-$451$83,864
Current Officers, Directors, Trustees, and Key Employees$55,212$6,918$6,918$69,048
Travel$31,036-$329$31,365
Payroll Taxes$12,565$1,229$1,536$15,330
Other Employee Benefits$8,807$731$1,061$10,599
Fees for Services Accounting-$5,274-$5,274
Office Expenses$2,456$87$611$3,154
Advertising$1,776-$896$2,672
Conferences and Meetings$1,872-$491$2,363
Other Expenses$695$185$458$1,338
Insurance-$885-$885
Total Functional Expenses$405,136$24,051$24,260$453,447
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
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
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, Page 6, Part VI, Line 11B

The executive director, development director and board treasurer review the form 990 prior to filing. Any questions related to the form 990 are resolved prior to submitting the form to the irs. A copy of the form 990 is forwarded to the board prior to filing.

Form 990, Page 6, Part VI, Line 12C

Annually, the conflict of interest policy is reviewed with all board members, officers, and key employees. Any conflicts of interest are disclosed, and compliance with the policy is adhered to.

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

The executive director's compensation level is reviewed and approved annually by the board of directors. Comparable data from other similar organizations is considered, along with other factors in establishing the compensation level.

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

The key employees' compensation level is reviewed and approved annually by the board of directors. Comparable data from other similar organizations is considered, along with other factors in establishing the compensation level.

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
The Primavera Fund
EIN
85-3960380
Phone
2679081710
Address
PO BOX 29384, PHILADELPHIA, PA 19125

Signing Officer

Name
Rachel Segal
Title
President and CEO
Phone
2679081710
Signed
2025-01-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rachel Segal
Formed
2020
Legal Domicile
Pa
Voting Board Members
7
Independent Board Members
7
Employees
3
Volunteers
9

Preparer

Firm
Kendall Prebola and Jones LLC
Address
PO BOX 259, BEDFORD, PA 15522-0259
Preparer
Robert F Prebola CPA
Phone
8146231880
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The primavera fund (the "fund") provides funding and mentoring to young musicians in elementary through high school, in the greater philadelphia area who lack the financial wherewithal to engage in high quality music education. The fund supports all aspects of music education, including private lesson, youth orchestra, chamber music, music theory, and summer music camps.

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

Each primavera artist is expected to participate in several aspects of early musical education. All students take weekly private lessons from a qualified instructor, sometimes that is an independent teacher (contractor) and sometimes that will be with a teacher at a music school to which we pay tuition. Students also participate in large and small music ensemble activities and there are many local youth orchestra, chamber music and chamber orchestra opportunities which we subsidize for our students. To supplement their musical education some students also advance in composition and theory, sometimes with a private instructor and sometimes at a school. Students also participate in music education programs during the summer months, usually a camp or festival. Costs for these are usually tuition and fees, as well as travel related expenses. In addition to underwriting the above student experiences, the primavera fund also offers group and individual support in the areas of instrumental advancement, career readiness, as well as college preparedness and selection processes. Students also take advantage of seminars and clinics by invited practitioners, some of which are geared toward alumni, who no longer receive financial support from the primavera fund, but who can still use our staff as a consulting resource. On an individual level, students play juries three times per season, and their progress is also tracked through reports from their private teachers. They consult with the primavera directors on their progress, direction and ambitions, and during their junior and senior years receive guidance on the college applications and audition process. We also cover fees and travel expenses for the college visit process. Students also work with the primavera fund staff to seek out competitions or conferences that may further their musical education. Supplies, sheet music and equipment are approved and purchased by the primavera fund staff.

Form 990, Part IX, Line 11G

Instructors and performers 55,732 0 432 other professional fees 27,681 0 19 total 83,413 0 451

Financial Statement Notes

Schedule D, Page 3, Part X

Accounting principles generally accepted in the united states of america provide consistent guidance for the accounting for uncertainty in income taxes recognized in the organization's financial statements and prescribe a threshold of "more likely than not" for recognition of tax positions taken or expected to be taken in a tax return. The primavera fund performed an evaluation of uncertain tax positions for the year ended august 31, 2024, and determined that there were no matters that would require recognition in the financial statements or that may have any effect on its tax-exempt status. As of august 31, 2024, the statute of limitations for tax years 2021 through 2023 remains open with the u.s. Federal jurisdiction or the various states and local jurisdictions in which the organization files tax returns. It is the organization's policy to recognize interest and/or penalties related to uncertain tax positions, if any, in income tax expense. As of august 31, 2024, the organization had no accruals for interest and/or penalties.

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IRS990/Desc0EACH PRIMAVERA ARTIST IS EXPECTED TO PARTICIPATE IN SEVERAL ASPECTS OF EARLY MUSICAL EDUCATION. ALL STUDENTS TAKE WEEKLY PRIVATE LESSONS FROM A QUALIFIED INSTRUCTOR, SOMETIMES THAT IS AN INDEPENDENT TEACHER (CONTRACTOR) AND SOMETIMES THAT WILL BE WITH A TEACHER AT A MUSIC SCHOOL TO WHICH WE PAY TUITION. STUDENTS ALSO PARTICIPATE IN LARGE AND SMALL MUSIC ENSEMBLE ACTIVITIES AND THERE ARE MANY LOCAL YOUTH ORCHESTRA, CHAMBER MUSIC AND CHAMBER ORCHESTRA OPPORTUNITIES WHICH WE SUBSIDIZE FOR OUR STUDENTS. TO SUPPLEMENT THEIR MUSICAL EDUCATION SOME STUDENTS ALSO ADVANCE IN COMPOSITION AND THEORY, SOMETIMES WITH A PRIVATE INSTRUCTOR AND SOMETIMES AT A SCHOOL. STUDENTS ALSO PARTICIPATE IN MUSIC EDUCATION PROGRAMS DURING THE SUMMER MONTHS, USUALLY A CAMP OR FESTIVAL. COSTS FOR THESE ARE USUALLY TUITION AND FEES, AS WELL AS TRAVEL RELATED EXPENSES. IN ADDITION TO UNDERWRITING THE ABOVE STUDENT EXPERIENCES, THE PRIMAVERA FUND ALSO OFFERS GROUP AND INDIVIDUAL SUPPORT IN THE AREAS OF INSTRUMENTAL ADVANCEMENT, CAREER READINESS, AS WELL AS COLLEGE PREPAREDNESS AND SELECTION PROCESSES. STUDENTS ALSO TAKE ADVANTAGE OF SEMINARS AND CLINICS BY INVITED PRACTITIONERS, SOME OF WHICH ARE GEARED TOWARD ALUMNI, WHO NO LONGER RECEIVE FINANCIAL SUPPORT FROM THE PRIMAVERA FUND, BUT WHO CAN STILL USE OUR STAFF AS A CONSULTING RESOURCE. ON AN INDIVIDUAL LEVEL, STUDENTS PLAY JURIES THREE TIMES PER SEASON, AND THEIR PROGRESS IS ALSO TRACKED THROUGH REPORTS FROM THEIR PRIVATE TEACHERS. THEY CONSULT WITH THE PRIMAVERA DIRECTORS ON THEIR PROGRESS, DIRECTION AND AMBITIONS, AND DURING THEIR JUNIOR AND SENIOR YEARS RECEIVE GUIDANCE ON THE COLLEGE APPLICATIONS AND AUDITION PROCESS. WE ALSO COVER FEES AND TRAVEL EXPENSES FOR THE COLLEGE VISIT PROCESS. STUDENTS ALSO WORK WITH THE PRIMAVERA FUND STAFF TO SEEK OUT COMPETITIONS OR CONFERENCES THAT MAY FURTHER THEIR MUSICAL EDUCATION. SUPPLIES, SHEET MUSIC AND EQUIPMENT ARE APPROVED AND PURCHASED BY THE PRIMAVERA FUND STAFF.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN THE ORGANIZATION'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE PRIMAVERA FUND PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED AUGUST 31, 2024, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. AS OF AUGUST 31, 2024, THE STATUTE OF LIMITATIONS FOR TAX YEARS 2021 THROUGH 2023 REMAINS OPEN WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE ORGANIZATION FILES TAX RETURNS. IT IS THE ORGANIZATION'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSE. AS OF AUGUST 31, 2024, THE ORGANIZATION HAD NO ACCRUALS FOR INTEREST AND/OR PENALTIES.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PRIMAVERA FUND (THE "FUND") PROVIDES FUNDING AND MENTORING TO YOUNG MUSICIANS IN ELEMENTARY THROUGH HIGH SCHOOL, IN THE GREATER PHILADELPHIA AREA WHO LACK THE FINANCIAL WHEREWITHAL TO ENGAGE IN HIGH QUALITY MUSIC EDUCATION. THE FUND SUPPORTS ALL ASPECTS OF MUSIC EDUCATION, INCLUDING PRIVATE LESSON, YOUTH ORCHESTRA, CHAMBER MUSIC, MUSIC THEORY, AND SUMMER MUSIC CAMPS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1EACH PRIMAVERA ARTIST IS EXPECTED TO PARTICIPATE IN SEVERAL ASPECTS OF EARLY MUSICAL EDUCATION. ALL STUDENTS TAKE WEEKLY PRIVATE LESSONS FROM A QUALIFIED INSTRUCTOR, SOMETIMES THAT IS AN INDEPENDENT TEACHER (CONTRACTOR) AND SOMETIMES THAT WILL BE WITH A TEACHER AT A MUSIC SCHOOL TO WHICH WE PAY TUITION. STUDENTS ALSO PARTICIPATE IN LARGE AND SMALL MUSIC ENSEMBLE ACTIVITIES AND THERE ARE MANY LOCAL YOUTH ORCHESTRA, CHAMBER MUSIC AND CHAMBER ORCHESTRA OPPORTUNITIES WHICH WE SUBSIDIZE FOR OUR STUDENTS. TO SUPPLEMENT THEIR MUSICAL EDUCATION SOME STUDENTS ALSO ADVANCE IN COMPOSITION AND THEORY, SOMETIMES WITH A PRIVATE INSTRUCTOR AND SOMETIMES AT A SCHOOL. STUDENTS ALSO PARTICIPATE IN MUSIC EDUCATION PROGRAMS DURING THE SUMMER MONTHS, USUALLY A CAMP OR FESTIVAL. COSTS FOR THESE ARE USUALLY TUITION AND FEES, AS WELL AS TRAVEL RELATED EXPENSES. IN ADDITION TO UNDERWRITING THE ABOVE STUDENT EXPERIENCES, THE PRIMAVERA FUND ALSO OFFERS GROUP AND INDIVIDUAL SUPPORT IN THE AREAS OF INSTRUMENTAL ADVANCEMENT, CAREER READINESS, AS WELL AS COLLEGE PREPAREDNESS AND SELECTION PROCESSES. STUDENTS ALSO TAKE ADVANTAGE OF SEMINARS AND CLINICS BY INVITED PRACTITIONERS, SOME OF WHICH ARE GEARED TOWARD ALUMNI, WHO NO LONGER RECEIVE FINANCIAL SUPPORT FROM THE PRIMAVERA FUND, BUT WHO CAN STILL USE OUR STAFF AS A CONSULTING RESOURCE. ON AN INDIVIDUAL LEVEL, STUDENTS PLAY JURIES THREE TIMES PER SEASON, AND THEIR PROGRESS IS ALSO TRACKED THROUGH REPORTS FROM THEIR PRIVATE TEACHERS. THEY CONSULT WITH THE PRIMAVERA DIRECTORS ON THEIR PROGRESS, DIRECTION AND AMBITIONS, AND DURING THEIR JUNIOR AND SENIOR YEARS RECEIVE GUIDANCE ON THE COLLEGE APPLICATIONS AND AUDITION PROCESS. WE ALSO COVER FEES AND TRAVEL EXPENSES FOR THE COLLEGE VISIT PROCESS. STUDENTS ALSO WORK WITH THE PRIMAVERA FUND STAFF TO SEEK OUT COMPETITIONS OR CONFERENCES THAT MAY FURTHER THEIR MUSICAL EDUCATION. SUPPLIES, SHEET MUSIC AND EQUIPMENT ARE APPROVED AND PURCHASED BY THE PRIMAVERA FUND STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE DIRECTOR, DEVELOPMENT DIRECTOR AND BOARD TREASURER REVIEW THE FORM 990 PRIOR TO FILING. ANY QUESTIONS RELATED TO THE FORM 990 ARE RESOLVED PRIOR TO SUBMITTING THE FORM TO THE IRS. A COPY OF THE FORM 990 IS FORWARDED TO THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ANNUALLY, THE CONFLICT OF INTEREST POLICY IS REVIEWED WITH ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES. ANY CONFLICTS OF INTEREST ARE DISCLOSED, AND COMPLIANCE WITH THE POLICY IS ADHERED TO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE EXECUTIVE DIRECTOR'S COMPENSATION LEVEL IS REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. COMPARABLE DATA FROM OTHER SIMILAR ORGANIZATIONS IS CONSIDERED, ALONG WITH OTHER FACTORS IN ESTABLISHING THE COMPENSATION LEVEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE KEY EMPLOYEES' COMPENSATION LEVEL IS REVIEWED AND APPROVED ANNUALLY BY THE BOARD OF DIRECTORS. COMPARABLE DATA FROM OTHER SIMILAR ORGANIZATIONS IS CONSIDERED, ALONG WITH OTHER FACTORS IN ESTABLISHING THE COMPENSATION LEVEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7INSTRUCTORS AND PERFORMERS 55,732 0 432 OTHER PROFESSIONAL FEES 27,681 0 19 TOTAL 83,413 0 451
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT AND CEO
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ReturnHeader/BusinessOfficerGrp/SignatureDt02025-01-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE PRIMAVERA FUND
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ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ROBERT F PREBOLA CPA
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ReturnHeader/ReturnTs02025-01-17T09:50:19-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-09-01
ReturnHeader/TaxPeriodEndDt02024-08-31
ReturnHeader/TaxYr02023

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