Civic Intelligence

Asian Inc.

990 • Fiscal year 2020 • EIN 94-1753170

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

Organization ProfileWWW.ASIANINC.ORG
1167 MISSION ST 4TH FloorSan Francisco, CA 94103

(415) 928-5910

Siviq Scores

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

Liabilities / Assets

77th percentile

0.59x

Higher debt load relative to assets than 77% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Liabilities / Revenue

84th percentile

1.41x

Higher debt load relative to revenue than 84% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Net Margin

74th percentile

18%

Higher net margin than 74% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Top Officer Pay

44th percentile

$156,800

Higher top officer pay than 44% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2020

Asset Growth

73rd percentile

19%

Faster asset growth than 73% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Revenue Growth

78th percentile

21%

Faster revenue growth than 78% of similar nonprofits.

2020 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets77th percentile

Assets

Up

$10,510,576

Up $1,691,619 (+19%) from 2019

Net Assets

Up

$4,349,591

Up $773,938 (+22%) from 2019

Liabilities

Up

$6,160,985

Up $917,681 (+18%) from 2019

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin74th percentile

Revenue

Up

$4,378,715

Up $750,218 (+21%) from 2019

Expenses

Up

$3,604,777

Up $231,256 (+6.9%) from 2019

Net Income

Up

$773,938

Up $518,962 (+204%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth73rd percentile

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

$15M$10M$5.0M$0Assets 2010: $5,945,066Liabilities 2010: $3,810,164Net Assets 2010: $2,134,9022010Assets 2011: $9,554,677Liabilities 2011: $6,087,435Net Assets 2011: $3,467,2422011Assets 2012: $8,849,622Liabilities 2012: $5,768,441Net Assets 2012: $3,081,1812012Assets 2013: $8,472,641Liabilities 2013: $6,020,240Net Assets 2013: $2,452,4012013Assets 2014: $9,145,415Liabilities 2014: $6,812,784Net Assets 2014: $2,332,6312014Assets 2015: $7,305,375Liabilities 2015: $4,416,487Net Assets 2015: $2,888,8882015Assets 2016: $9,036,099Liabilities 2016: $5,744,661Net Assets 2016: $3,291,4382016Assets 2017: $8,638,078Liabilities 2017: $5,518,235Net Assets 2017: $3,119,8432017Assets 2018: $8,637,930Liabilities 2018: $5,317,253Net Assets 2018: $3,320,6772018Assets 2019: $8,818,957Liabilities 2019: $5,243,304Net Assets 2019: $3,575,6532019Assets 2020: $10,510,576Liabilities 2020: $6,160,985Net Assets 2020: $4,349,5912020Assets 2021: $12,344,249Liabilities 2021: $6,616,310Net Assets 2021: $5,727,9392021Assets 2022: $13,642,103Liabilities 2022: $7,573,221Net Assets 2022: $6,068,8822022Assets 2023: $13,830,227Liabilities 2023: $7,483,361Net Assets 2023: $6,346,8662023Assets 2024: $14,814,259Liabilities 2024: $7,260,354Net Assets 2024: $7,553,9052024

Highlighted filing

2020

Assets$10,510,576
Liabilities$6,160,985
Net Assets$4,349,591
Open 2020 Filing

Operations Trend

Revenue Growth78th percentile

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2010: $2,441,588Expenses 2010: $2,263,947Net Income 2010: $177,6412010Revenue 2011: $3,670,752Expenses 2011: $3,170,660Net Income 2011: $500,0922011Revenue 2012: $3,393,828Expenses 2012: $3,544,391Net Income 2012: -$150,5632012Revenue 2013: $2,835,712Expenses 2013: $3,167,308Net Income 2013: -$331,5962013Revenue 2014: $3,197,781Expenses 2014: $3,317,662Net Income 2014: -$119,8812014Revenue 2015: $3,381,551Expenses 2015: $3,229,827Net Income 2015: $151,7242015Revenue 2016: $3,532,087Expenses 2016: $3,129,537Net Income 2016: $402,5502016Revenue 2017: $3,253,236Expenses 2017: $3,166,332Net Income 2017: $86,9042017Revenue 2018: $3,334,886Expenses 2018: $3,087,839Net Income 2018: $247,0472018Revenue 2019: $3,628,497Expenses 2019: $3,373,521Net Income 2019: $254,9762019Revenue 2020: $4,378,715Expenses 2020: $3,604,777Net Income 2020: $773,9382020Revenue 2021: $4,897,792Expenses 2021: $3,519,444Net Income 2021: $1,378,3482021Revenue 2022: $4,447,185Expenses 2022: $4,072,368Net Income 2022: $374,8172022Revenue 2023: $4,287,646Expenses 2023: $4,009,662Net Income 2023: $277,9842023Revenue 2024: $5,561,637Expenses 2024: $4,381,533Net Income 2024: $1,180,1042024

Highlighted filing

2020

Revenue$4,378,715
Expenses$3,604,777
Net Income$773,938
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.0
Gross Receipts
$4,682,010
Mission and Program Overview

Mission

The core mission of ASIAN, Inc. is the empowerment of the Asian American Community to achieve social equality by reducing dependency to create and expand access to opportunities in the areas of business development, housing and education.

The core mission of ASIAN, Inc. is the empowerment of the Asian American Community to achieve social equality by reducing dependency to create and expand access to opportunities in the areas of business development, housing and education. The most significant activities include technical assistance and research for strengthening the infrastructures of Asian American Communities in Northern California and to assist in their physical, economic, and social development.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,541,718$3,533,977▼ $7,741
Cash and Non-Interest-Bearing Accounts$1,539,834$3,049,209▲ $1,509,375
Accounts Receivable$1,774,378$2,060,653▲ $286,275
Other Notes and Loans Receivable, Net$1,217,269$1,129,213▼ $88,056
Savings and Temporary Cash Investments-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$8,818,957$10,510,576▲ $1,691,619
Other Assets Total$745,758$737,524▼ $8,234
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,171,067$4,154,736▼ $16,331
Other Liabilities$611,070$1,211,935▲ $600,865
Accounts Payable and Accrued Expenses$460,108$793,254▲ $333,146
Escrow Account Liability$1,059$1,060▲ $1
Total Liabilities$5,243,304$6,160,985▲ $917,681
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,154,777$3,928,715▲ $773,938
Net Assets With Donor Restrictions$420,876$420,876→ $0
Total Net Assets Fund Balance$3,575,653$4,349,591▲ $773,938
Total Liabilities and Net Assets / Fund Balance$8,818,957$10,510,576▲ $1,691,619

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,543,198$714,844$3,258,042
Land$983,492-$983,492
Equipment$7,287$82,931$90,218
Other Land Buildings-$12,217$12,217
Other Assets Org$60,751--
Compensation and Service Providers
Top Officer Pay44th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Lamar HeystekPresidentFT$140,000$16,800$156,800
David MendozaSr. Proje DirectorFT$146,109-$146,109
Nobby ChengHousing DirectorFT$120,179-$120,179
Herbert QuanDirector OF OPFT$85,000$9,419$94,419

Board Members and Trustees

NameTitle
Frank FungChairman
Robert LoVice-chair
Andrew ChauBoard Member
Aubri BryanBoard Member
Jonathan LeongBoard Member
Roger RoyseBoard Member
Christina CiuSecretary
Betty LemTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$438,509
Program Service Revenue
$3,487,942
Investment Income
$35,070
Other Revenue
$417,194
All Other Contributions
$393,048
Change in Net Assets
$773,938

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,378,715
Total Revenue per Audited Statements
$4,378,715
Total Revenue per Form 990
$4,378,715
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,209,693
Other Expenses$1,395,084
Total Fundraising Expense$109,073
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,341,576$210,648$41,097$1,593,321
Fees for Services Other$738,342$11,728$285$750,355
Occupancy$281,215$96,861$155$378,231
Current Officers, Directors, Trustees, and Key Employees$172,633$78,586-$251,219
Payroll Taxes$126,375$23,418$4,072$153,865
Other Employee Benefits$128,124$19,169$6,299$153,592
Pension Plan Contributions$49,954$7,101$641$57,696
Fees for Services Accounting-$33,825-$33,825
Office Expenses$6,415$16,927$1,596$24,938
Insurance$11,156$12,819$162$24,137
Interest$2,222$17,225-$19,447
Travel$11,664$2,392$397$14,453
All Other Expenses$3,155$4,557$34$7,746
Depreciation Depletion$5,595$2,143-$7,738
Other Expenses$1,678$2,335$2,055$6,068
Total Functional Expenses$2,945,822$549,882$109,073$3,604,777

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,604,777
Total Expenses per Audited Statements$3,604,777
Total Expenses per Form 990$3,604,777
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$7,297
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$45,461-$7,297-
Total Events$45,461-$7,297$-7,297
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Sba Ppp Loan$589,900
Due to Related Parties$488,224
Line of Credit$133,811
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 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, Part VI, Line 11B: Form 990 Review Process

“The outside, independent cpa prepares the form 990, the board members review the form 990 before filing it.”

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The conflict of interest policy is monitored and reviewed by the board annually and signed in order to show compliance.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

“The compensation of the top management official (the president) is determined by a compensation and benefits survey report for nonprofits as well as a review and approval by the board of directors.the other officers or key employees' compensations are determined, reviewed and approved by the president.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Asian Inc
EIN
94-1753170
Phone
4159285910
Address
1167 MISSION ST 4TH Floor, SAN FRANCISCO, CA 94103

Signing Officer

Name
Lamar Heystek
Title
President
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lamar Heystek
Formed
1971
Legal Domicile
CA
Voting Board Members
8
Independent Board Members
8
Employees
43
Volunteers
6

Preparer

Firm
Chek Tan and Company Llp
Address
309 4TH AVE STE 300, SAN FRANCISCO, CA 94118
Preparer
Yunyu Huang
Phone
4156738573
Supplemental Narrative

Financial Statement Notes

Part IV, Line 2B: Explanation of escrow account liability

“ASIAN, Inc. holds certain accounts in trust for others in the course of its affordable housing program operations. The balances consist of tenant deposits and operating accounts for affiliates for which ASIAN, Inc. serves as property manager.”

Part X : FIN48 Footnote

“ASIAN, Inc. and its nonprofit Affiliates NHRC II, NHRC III, NHCR IV, Minna Inc., Van Ness Inc., Natoma Inc., and O'Farrell Inc. are exempt from taxation under Internal Revenue Code Section 501(c)(3) and California Revenue and Taxation Code Section 23701d. The limited partnerships: Natoma LP, Van Ness LP, Minna LP, Turk LP, Lassen LP, and Post LP, are pass-through entities not subject to income taxation except for the annual California limited partnership fee of $800. All taxable income,deductions, and tax credits are passed to, and are reportable by the partners individually. In 2020, the partnerships paid $4,800 in California limited partnership fees.Generally accepted accounting principles provides accounting and disclosure guidance about positions taken by an organization in its tax returns that might be uncertain. Management has considered its tax positions and believes that all of the positions taken by ASIAN, Inc. in its federal and state tax returns are more likely than not to be sustained upon examination. ASIAN, Inc.'s respective returns are subject to examination by federal and state taxing authorities, generally for three and four years, respectively, after they are filed.”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0President
IRS990/Form990PartVIISectionAGrp/TitleTxt1SR. PROJE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2HOUSING DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director OF OP
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt5VICE-CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
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IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0The core mission of ASIAN, Inc. is the empowerment of the Asian American Community to achieve social equality by reducing dependency to create and expand access to opportunities in the areas of business development, housing and education. The most significant activities include technical assistance and research for strengthening the infrastructures of Asian American Communities in Northern California and to assist in their physical, economic, and social development.
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
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IRS990/OfficeExpensesGrp/FundraisingAmt01596
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IRS990/OfficeExpensesGrp/ProgramServicesAmt06415
IRS990/OfficeExpensesGrp/TotalAmt024938
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IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt06299
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt019169
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0128124
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0153592
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IRS990/OtherExpensesGrp/Desc3Postage and Shipping
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IRS990/OtherExpensesGrp/FundraisingAmt12055
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04417
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt15731
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt22335
IRS990/OtherExpensesGrp/ProgramServicesAmt055141
IRS990/OtherExpensesGrp/ProgramServicesAmt18453
IRS990/OtherExpensesGrp/ProgramServicesAmt22124
IRS990/OtherExpensesGrp/ProgramServicesAmt31678
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IRS990/OtherExpensesGrp/TotalAmt112870
IRS990/OtherExpensesGrp/TotalAmt27855
IRS990/OtherExpensesGrp/TotalAmt36068
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IRS990/OtherRevenueTotalAmt028743
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt041097
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0210648
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01341576
IRS990/OtherSalariesAndWagesGrp/TotalAmt01593321
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IRS990/OthNotesLoansReceivableNetGrp/BOYAmt01217269
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt01129213
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
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IRS990/PayrollTaxesGrp/FundraisingAmt04072
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt023418
IRS990/PayrollTaxesGrp/ProgramServicesAmt0126375
IRS990/PayrollTaxesGrp/TotalAmt0153865
IRS990/PensionPlanContributionsGrp/FundraisingAmt0641
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt07101
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt049954
IRS990/PensionPlanContributionsGrp/TotalAmt057696
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliciesReferenceChaptersInd0true
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PrincipalOfficerNm0Lamar Heystek
IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/BusinessCd1900099
IRS990/ProgramServiceRevenueGrp/BusinessCd2531310
IRS990/ProgramServiceRevenueGrp/Desc0ASSET MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/Desc1CONTRACT INCOME
IRS990/ProgramServiceRevenueGrp/Desc2PROGRAM INCOME
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12906147
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2395054
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0186741
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12906147
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2395054
IRS990/ProgSrvcAccomActy2Grp/Desc0ECONOMIC DEVELOPMENT PROVIDES MANAGEMENT AND TECHNICAL ASSISTANCE PRIMARILY TO A VARIETY OF SMALL AND LARGER ASIAN AMERICAN AND OTHER MINORITY BUSINESSES AND IS FUNDED BY FEDERAL MBDA, DEPARTMENT OF COMMERCE.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt01324047
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt01486237
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0175507
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt023180
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01015167
IRS990/PYOtherRevenueAmt0552042
IRS990/PYProgramServiceRevenueAmt02877768
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IRS990/PYSalariesCompEmpBnftPaidAmt02358354
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IRS990/PYTotalRevenueAmt03628497
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0129400
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0238783
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01281312
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt02624501
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt02587825
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt02106750

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,510,576
Liabilities
$6,160,985
Net assets
$4,349,591
Revenue
$4,378,715
Expenses
$3,604,777
Net income
$773,938
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$14.8$7.26$7.55$5.56$4.38$1.18
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.8$7.48$6.35$4.29$4.01$0.28
2022Detailed filing. Detailed filing data is available for this year.$13.6$7.57$6.07$4.45$4.07$0.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.3$6.62$5.73$4.90$3.52$1.38
2020Detailed filing. Detailed filing data is available for this year.$10.5$6.16$4.35$4.38$3.60$0.77
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.82$5.24$3.58$3.63$3.37$0.25
2018Detailed filing. Detailed filing data is available for this year.$8.64$5.32$3.32$3.33$3.09$0.25
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.64$5.52$3.12$3.25$3.17$0.09
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.04$5.74$3.29$3.53$3.13$0.40
2015Detailed filing. Detailed filing data is available for this year.$7.31$4.42$2.89$3.38$3.23$0.15
2014Detailed filing. Detailed filing data is available for this year.$9.15$6.81$2.33$3.20$3.32$0.12
2013Summary only. Only limited summary data is available for this year.$8.47$6.02$2.45$2.84$3.17$0.33
2012Summary only. Only limited summary data is available for this year.$8.85$5.77$3.08$3.39$3.54$0.15
2011Summary only. Only limited summary data is available for this year.$9.55$6.09$3.47$3.67$3.17$0.50
2010Summary only. Only limited summary data is available for this year.$5.95$3.81$2.13$2.44$2.26$0.18