Civic Intelligence

King County Library System Foundation

990 • Fiscal year 2018 • EIN 91-1505230

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 13, 2019

960 Newport Way NWIssaquah, WA 98027

(425) 369-3450

Siviq Scores

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

Liabilities / Assets

27th percentile

0.03x

Higher debt load relative to assets than 27% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

17th percentile

0.03x

Higher debt load relative to revenue than 17% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Net Margin

89th percentile

46%

Higher net margin than 89% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

20th percentile

$0

Higher top officer pay than 20% of similar nonprofits.

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

2018 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2018

Asset Growth

95th percentile

79%

Faster asset growth than 95% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Revenue Growth

99th percentile

523%

Faster revenue growth than 99% of similar nonprofits.

2018 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2017 to 2018

Assets

Up

$6,913,249

Up $3,055,829 (+79%) from 2017

Net Assets

Up

$6,694,379

Up $3,319,251 (+98%) from 2017

Liabilities

Down

$218,870

Down $263,422 (-55%) from 2017

Revenue

Up

$8,026,591

Up $6,737,901 (+523%) from 2017

Expenses

Up

$4,354,267

Up $2,920,138 (+204%) from 2017

Net Income

Up

$3,672,324

Up $3,817,763 (+2625%) from 2017

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2010: $2,825,563Liabilities 2010: $64,469Net Assets 2010: $2,761,0942010Assets 2011: $2,871,146Liabilities 2011: $69,319Net Assets 2011: $2,801,8272011Assets 2012: $3,361,693Liabilities 2012: $79,958Net Assets 2012: $3,281,7352012Assets 2013: $3,794,731Liabilities 2013: $244,815Net Assets 2013: $3,549,9162013Assets 2014: $3,543,666Liabilities 2014: $108,739Net Assets 2014: $3,434,9272014Assets 2015: $3,383,888Liabilities 2015: $73,087Net Assets 2015: $3,310,8012015Assets 2016: $3,389,952Liabilities 2016: $151,364Net Assets 2016: $3,238,5882016Assets 2017: $3,857,420Liabilities 2017: $482,292Net Assets 2017: $3,375,1282017Assets 2018: $6,913,249Liabilities 2018: $218,870Net Assets 2018: $6,694,3792018Assets 2019: $7,094,386Liabilities 2019: $394,740Net Assets 2019: $6,699,6462019Assets 2020: $8,882,186Liabilities 2020: $257,919Net Assets 2020: $8,624,2672020Assets 2021: $10,486,562Liabilities 2021: $198,853Net Assets 2021: $10,287,7092021Assets 2022: $9,794,730Liabilities 2022: $95,755Net Assets 2022: $9,698,9752022Assets 2023: $11,358,530Liabilities 2023: $115,302Net Assets 2023: $11,243,2282023Assets 2024: $12,020,103Liabilities 2024: $145,349Net Assets 2024: $11,874,7542024

Highlighted filing

2018

Assets$6,913,249
Liabilities$218,870
Net Assets$6,694,379

Operations Trend

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

$10M$5.0M$0-$5.0MExpenses 2010: $605,5412010Expenses 2011: $730,6682011Expenses 2012: $669,8452012Revenue 2013: $1,087,713Expenses 2013: $908,490Net Income 2013: $179,2232013Revenue 2014: $1,011,193Expenses 2014: $1,038,392Net Income 2014: -$27,1992014Revenue 2015: $1,317,066Expenses 2015: $1,374,503Net Income 2015: -$57,4372015Revenue 2016: $1,383,937Expenses 2016: $1,557,181Net Income 2016: -$173,2442016Revenue 2017: $1,288,690Expenses 2017: $1,434,129Net Income 2017: -$145,4392017Revenue 2018: $8,026,591Expenses 2018: $4,354,267Net Income 2018: $3,672,3242018Revenue 2019: $1,711,918Expenses 2019: $2,053,784Net Income 2019: -$341,8662019Revenue 2020: $1,758,374Expenses 2020: $913,554Net Income 2020: $844,8202020Revenue 2021: $2,076,061Expenses 2021: $1,225,336Net Income 2021: $850,7252021Revenue 2022: $2,604,351Expenses 2022: $1,800,909Net Income 2022: $803,4422022Revenue 2023: $2,877,541Expenses 2023: $2,027,680Net Income 2023: $849,8612023Revenue 2024: $2,161,587Expenses 2024: $1,748,267Net Income 2024: $413,3202024

Highlighted filing

2018

Revenue$8,026,591
Expenses$4,354,267
Net Income$3,672,324
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 13, 2019
Return Version
2018v3.1
Gross Receipts
$8,282,846
Mission and Program Overview

Mission

The mission of the king county library system (kcls or the library) is to inspire the people of king county to succeed through ideas, interaction and information. The king county library system foundation (kcls foundation) promotes literacy, learning, and libraries by providing support beyond public funding for initiatives and resources that enable the king county library system to better serve the needs of our community.

To provide support for king county library system.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$114,658$3,561,471▲ $3,446,813
Investments in Publicly Traded Securities$2,801,550$2,534,139▼ $267,411
Cash and Non-Interest-Bearing Accounts$200,977$203,867▲ $2,890
Savings and Temporary Cash Investments$255,764$201,086▼ $54,678
Accounts Receivable$31,688$28,407▼ $3,281
Prepaid Expenses and Deferred Charges$12,500$20,499▲ $7,999
Total Assets$3,857,420$6,913,249▲ $3,055,829
Other Assets Total$440,283$363,780▼ $76,503
Liabilities
Accounts Payable and Accrued Expenses$482,292$218,870▼ $263,422
Total Liabilities$482,292$218,870▼ $263,422
Net Assets / Fund Balance
Unrestricted Net Assets$1,991,462$5,368,137▲ $3,376,675
Permanently Rstr Net Assets$1,211,403$1,218,900▲ $7,497
Temporarily Rstr Net Assets$172,263$107,342▼ $64,921
Total Net Assets Fund Balance$3,375,128$6,694,379▲ $3,319,251
Total Liabilities and Net Assets / Fund Balance$3,857,420$6,913,249▲ $3,055,829

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$363,780--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$942,022$84,000▼ $66,114$38,351$921,557
2017$772,652$84,000▲ $118,993$33,623$942,022
2016$677,769$84,000▲ $40,217$29,334$772,652
2015$631,900$84,000▼ $14,207$23,924$677,769
2014$539,776$84,000▲ $28,315$20,191$631,900
Compensation and Service Providers

Board Members and Trustees

NameTitle
Teresa ByersPresident
Bill KeoughVice President
Berta SeltzerBoard Member
Debbie KuehnerBoard Member
Ducksoon HwangBoard Member
Julie AverillBoard Member
Kris KaminishiBoard Member
Kristi HamiltonBoard Member
Mai NoonanBoard Member
Mark HulakBoard Member
Michelle MathieuBoard Member
Mike StranikBoard Member
Nicole PatridgeBoard Member
Pennie Clark IannicielloBoard Member
Peter FinchBoard Member
Raymond ChanBoard Member
Rick TaylorBoard Member
Sandra CollierBoard Member
Elizabeth CastleberryExecutive Director
Megan YoshimuraSecretary
Robert SchroederTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$7,496,003
Program Service Revenue
$0
Investment Income
$166,263
Other Revenue
$364,325
All Other Contributions
$7,370,280
Change in Net Assets
$3,672,324

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
Other Non Cash Contri Table50,000$2,149,500Fair Market Value (FMV)
Other Non Cash Contri Table60,000$900,000Fair Market Value (FMV)
Securities Publicly Traded8$19,789Fair Market Value (FMV)
Other Non Cash Contri Table40$7,770Fair Market Value (FMV)
Other Non Cash Contri Table22$4,500Fair Market Value (FMV)
Other Non Cash Contri Table1$620Fair Market Value (FMV)
Total Noncash Contributions110,071$3,082,179-

Audited Revenue Reconciliation

Revenue per Audited Statements
$8,026,591
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$433,321
Total Revenue per Audited Statements
$8,459,912
Total Revenue per Form 990
$8,026,591
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,293,295
Grants and Similar Amounts Paid$1,060,972
Total Fundraising Expense$149,700
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses$3,054,000-$8,390$3,062,390
Grants to Domestic Orgs$1,060,972--$1,060,972
Fees for Services Other$42,482$10,685$93,982$147,149
Office Expenses-$13,380$33,653$47,033
Fees for Service Investment Mgmnt Fees-$23,048$13,675$36,723
Total Functional Expenses$4,157,454$47,113$149,700$4,354,267

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,140,661
Expenses per Audited Statements$4,354,267
Total Expenses per Form 990$4,354,267
Expenses Not Reported on Form 990$786,394
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
King County Library SystemIssaquah, WA115Support Library Programs$1,060,972
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$427,872
Fundraising Direct Expenses$191,513
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Dinner and Book Sale$513,395$387,672$34,156$353,516
Author Salons$40,200$40,200$4,681$35,519
Total Events$553,595$427,872$191,513$236,359
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
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
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 A, Line 2

Robert schroeder, treasurer, is the father of teresa byers, president.

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

Form 990 is reviewed first by members of the finance and audit committee, either electronically or by meeting in person. Once approved by members of the finance and audit committee, form 990 is sent electronically to all members of the board. After approval of the finance and audit committee, form 990 is then prepared for submission and submitted to the internal revenue service.

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

Each december all board members are required to fill out our conflict of interest form, sign, date and return. If conflict is identified, it is disclosed.

Form 990, Part VI, Section B, Line 15

King county library system (kcls) provides the staff for the king county library system foundation. Kcls has both a job description and review process for each of the above positions. This process includes the use of independent persons, comparable data and contemporaneous substantiation of the deliberation and decision.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy, and audited financial statements are available upon request.

Filing and Contact Details

Filer

Filer Name
King County Library System Foundation
EIN
91-1505230
Phone
4253693450
Address
960 NEWPORT WAY NW, ISSAQUAH, WA 98027

Signing Officer

Name
Elizabeth Castleberry
Title
Executive Director
Phone
4253693450
Signed
2019-09-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Elizabeth Castleberry
Formed
1990
Legal Domicile
Wa
Voting Board Members
18
Independent Board Members
18
Employees
0
Volunteers
75

Preparer

Firm
Jacobson Jarvis & Co Pllc
Address
200 FIRST AVE WEST SUITE 200, SEATTLE, WA 98119-4219
Preparer
Howard Donkin CPA
Phone
2066288990
Supplemental Narrative

Additional Explanations

PART XII, LINE 2C:

There has been no change in how the audit committee reviews the audited financial statements.

Financial Statement Notes

PART V, LINE 4:

To fund early literacy and children's programs.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 191,513.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Special event expenses 191,513.

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IRS990/Desc0LAUNCHED IN 2016 AS A PILOT, IDEA X ALLOWS PATRONS OF ALL AGES TO PLAY, LEARN, AND IMAGINE VIA STEAM (SCIENCE, TECHNOLOGY, ENGINEERING, ART AND MATH) PROGRAMS BOTH IN AND OUTSIDE THE LIBRARY. WITH THE NUMBER OF STEAM-EDUCATED STUDENTS AND PROFESSIONALS FALLING FAR SHORT OF DEMAND FOR SKILLED EMPLOYEES IN THESE SUBJECTS BOTH IN OUR REGION AND NATIONWIDE, IT IS CRITICAL THAT KING COUNTY RESIDENTS HAVE ACCESS TO THESE TECHNOLOGIES. TO PROVIDE ACCESS, THE KCLS FOUNDATION IS SUPPORTING THE CONTINUATION OF MOBILE IDEA X UNITS, AS WELL AS TWO PERMANENT, DEDICATED IDEA X MAKERSPACE LABS IN THE BELLEVUE LIBRARY (OPENED SPRING 2018) AND THE FEDERAL WAY LIBRARY RESPECTIVELY (TO OPEN LATE 2019/EARLY 2020).
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
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/TitleTxt13BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt14BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt15BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt16BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt17BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt18BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt19BOARD MEMBER
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IRS990/MembersOrStockholdersInd00
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IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0KING COUNTY LIBRARY SYSTEM FOUNDATION PROVIDES FUNDING FOR INITIATIVES THAT ADDRESS COMMUNITY NEEDS, SUPPORTS THE LIBRARY SYSTEM IN REALIZING ITS MISSION, AND ENCOURAGES OUR PUBLIC LIBRARY SYSTEM TO REMAIN VIBRANT, RELEVANT AND CENTRAL IN THE LIVES OF RESIDENTS.
IRS990/MoreThan5000KToIndividualsInd00
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IRS990/OperateHospitalInd00
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IRS990/OtherAssetsTotalGrp/EOYAmt0363780
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0PROGRAM MATERIALS AND E
IRS990/OtherExpensesGrp/FundraisingAmt08390
IRS990/OtherExpensesGrp/ProgramServicesAmt03054000
IRS990/OtherExpensesGrp/TotalAmt03062390
IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/Desc0VENDING MACHINE SALES
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IRS990/PrincipalOfficerNm0ELIZABETH CASTLEBERRY
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IRS990/ProgSrvcAccomActy2Grp/Desc0CHILDREN'S PROGRAMMING AND KCLS SUMMER READING INCENTIVIZES CHILDREN, TEENS, AND ADULTS TO TAKE TIME TO READ IN THE SUMMER MONTHS. 2018 WAS SUMMER READING'S SECOND YEAR AS A COMPREHENSIVE, ALL-AGES PROGRAM. THIS PERENNIAL FAVORITE ENCOMPASSES NOT ONLY READING PROGRAMS FOR KIDS, TEENS, AND ADULTS BUT ALSO A WIDE VARIETY OF SUMMER PROGRAMMING FOR ALL AGES. THIS INCLUDES HEALTHY MEALS AND SNACKS FOR STUDENTS WHO LOSE ACCESS TO FREE AND REDUCED-PRICE MEALS WHEN SCHOOLS ARE CLOSED, BUS TRIPS TO THE LIBRARY FOR STUDENTS LIVING IN UNDERSERVED AREAS, SUMMER READING PARTIES, MOBILE OUTREACH PROGRAMMING, SUMMER READING PRIZES FOR ALL AGES, AND BOOK GIVEAWAYS FOR CHILDREN. ADDITIONAL SUPPORT IN THIS CATEGORY WENT TO RAISING A READER, WHICH IS A NATIONAL PROGRAM THAT FOCUSES ON EARLY LITERACY AND PARENT-CHILD BONDING, AND THE GLOBAL READING CHALLENGE, WHICH ENGAGES RELUCTANT ELEMENTARY SCHOOL-AGED READERS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0ADDITIONAL GRANTS WERE MADE TO SUPPORT SPANISH LITERACY PROGRAMS SUCH AS TRES REYES (THREEWISEMEN), DIA, FIESTAS!, PLAZA COMUNITARIAS, AND FAMILY BOOK CLUB. IN THE FALL, KCLS CELEBRATED HISPANIC HERITAGE MONTH AND FEATURED AN ALL-AGES LITERACY CONTEST. PLAZAS COMUNITARIAS, THE MEXICAN CONSULATE-ACCREDITED BASIC EDUCATION PROGRAM FOR SPANISH-SPEAKING ADULT LEARNERS, ENTERED ITS THIRD FULL YEAR AT BELLEVUE LIBRARY.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt09424
IRS990/ProgSrvcAccomActy3Grp/GrantAmt09000
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IRS990/QuidProQuoContributionsInd01
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
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IRS990/RegularMonitoringEnfrcInd01
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0476294
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0536334
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0536334
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IRS990/ScheduleBRequiredInd01
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IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt084000
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0921557
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-66114
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IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0772652
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.0$0.15$11.9$2.16$1.75$0.41
2023Detailed filing. Detailed filing data is available for this year.$11.4$0.12$11.2$2.88$2.03$0.85
2022Detailed filing. Detailed filing data is available for this year.$9.79$0.10$9.70$2.60$1.80$0.80
2021Detailed filing. Detailed filing data is available for this year.$10.5$0.20$10.3$2.08$1.23$0.85
2020Detailed filing. Detailed filing data is available for this year.$8.88$0.26$8.62$1.76$0.91$0.84
2019Detailed filing. Detailed filing data is available for this year.$7.09$0.39$6.70$1.71$2.05$0.34
2018Detailed filing. Detailed filing data is available for this year.$6.91$0.22$6.69$8.03$4.35$3.67
2017Detailed filing. Detailed filing data is available for this year.$3.86$0.48$3.38$1.29$1.43$0.15
2016Detailed filing. Detailed filing data is available for this year.$3.39$0.15$3.24$1.38$1.56$0.17
2015Detailed filing. Detailed filing data is available for this year.$3.38$0.07$3.31$1.32$1.37$0.06
2014Detailed filing. Detailed filing data is available for this year.$3.54$0.11$3.43$1.01$1.04$0.03
2013Detailed filing. Detailed filing data is available for this year.$3.79$0.24$3.55$1.09$0.91$0.18
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.36$0.08$3.28$0.67
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.87$0.07$2.80$0.73
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.83$0.06$2.76$0.61