Civic Intelligence

The Palm Valley School

990 • Fiscal year 2016 • EIN 95-2133079

Jul 01, 2015 to Jun 30, 2016 • Filed on Jan 16, 2017

Organization ProfileWWW.PVS.ORG

View Organization Page

35525 Da Vall DrRancho Mirage, CA 92270

(760) 328-0861

Siviq Scores

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

Liabilities / Assets

65th percentile

0.41x

Higher debt load relative to assets than 65% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Liabilities / Revenue

82nd percentile

1.20x

Higher debt load relative to revenue than 82% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Net Margin

12th percentile

-18%

Higher net margin than 12% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Top Officer Pay

63rd percentile

$213,808

Higher top officer pay than 63% of similar nonprofits.

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

2016 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2016

Asset Growth

12th percentile

-7.2%

Faster asset growth than 12% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Revenue Growth

26th percentile

-6.7%

Faster revenue growth than 26% of similar nonprofits.

2016 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets65th percentile

Assets

Down

$17,438,523

Down $1,362,175 (-7.2%) from 2015

Net Assets

Down

$10,313,268

Down $1,137,193 (-9.9%) from 2015

Liabilities

Down

$7,125,255

Down $224,982 (-3.1%) from 2015

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin12th percentile

Revenue

Down

$5,925,068

Down $424,924 (-6.7%) from 2015

Expenses

Down

$7,009,659

Down $253,232 (-3.5%) from 2015

Net Income

Down

-$1,084,591

Down $171,692 (-19%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth12th percentile

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

$30M$20M$10M$0Assets 2012: $20,528,533Liabilities 2012: $8,999,795Net Assets 2012: $11,528,7382012Assets 2013: $19,257,807Liabilities 2013: $8,098,302Net Assets 2013: $11,159,5052013Assets 2014: $20,139,961Liabilities 2014: $7,727,381Net Assets 2014: $12,412,5802014Assets 2015: $18,800,698Liabilities 2015: $7,350,237Net Assets 2015: $11,450,4612015Assets 2016: $17,438,523Liabilities 2016: $7,125,255Net Assets 2016: $10,313,2682016Assets 2017: $17,028,418Liabilities 2017: $7,630,285Net Assets 2017: $9,398,1332017Assets 2018: $16,108,696Liabilities 2018: $7,668,059Net Assets 2018: $8,440,6372018Assets 2019: $15,219,645Liabilities 2019: $8,136,320Net Assets 2019: $7,083,3252019Assets 2020: $14,050,076Liabilities 2020: $7,319,225Net Assets 2020: $6,730,8512020Assets 2021: $15,811,228Liabilities 2021: $7,999,529Net Assets 2021: $7,811,6992021Assets 2022: $14,833,118Liabilities 2022: $8,254,619Net Assets 2022: $6,578,4992022Assets 2023: $13,624,821Liabilities 2023: $7,884,361Net Assets 2023: $5,740,4602023Assets 2024: $12,681,291Liabilities 2024: $7,626,522Net Assets 2024: $5,054,7692024

Highlighted filing

2016

Assets$17,438,523
Liabilities$7,125,255
Net Assets$10,313,268
Open 2016 Filing

Operations Trend

Revenue Growth26th percentile

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

$10M$5.0M$0-$5.0MRevenue 2012: $6,206,788Expenses 2012: $6,772,210Net Income 2012: -$565,4222012Expenses 2013: $7,082,7332013Revenue 2014: $7,987,873Expenses 2014: $6,782,116Net Income 2014: $1,205,7572014Revenue 2015: $6,349,992Expenses 2015: $7,262,891Net Income 2015: -$912,8992015Revenue 2016: $5,925,068Expenses 2016: $7,009,659Net Income 2016: -$1,084,5912016Revenue 2017: $5,645,834Expenses 2017: $6,609,376Net Income 2017: -$963,5422017Revenue 2018: $6,406,217Expenses 2018: $7,355,538Net Income 2018: -$949,3212018Revenue 2019: $6,289,320Expenses 2019: $7,636,934Net Income 2019: -$1,347,6142019Revenue 2020: $7,468,000Expenses 2020: $7,820,474Net Income 2020: -$352,4742020Revenue 2021: $7,567,169Expenses 2021: $6,486,321Net Income 2021: $1,080,8482021Revenue 2022: $6,168,174Expenses 2022: $6,979,195Net Income 2022: -$811,0212022Revenue 2023: $7,026,513Expenses 2023: $7,864,552Net Income 2023: -$838,0392023Revenue 2024: $7,733,249Expenses 2024: $8,430,537Net Income 2024: -$697,2882024

Highlighted filing

2016

Revenue$5,925,068
Expenses$7,009,659
Net Income-$1,084,591
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Jan 16, 2017
Return Version
2015v3.0
Gross Receipts
$6,248,138
Mission and Program Overview

Mission

Palm valley school is an exceptional learning community that educates, nurtures, and challenges each student to achieve excellence and contribute to our global society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$17,023,660$16,197,174▼ $826,486
Investments in Publicly Traded Securities$580,243$568,816▼ $11,427
Cash and Non-Interest-Bearing Accounts$964,078$546,070▼ $418,008
Prepaid Expenses and Deferred Charges$66,488$57,509▼ $8,979
Accounts Receivable$114,869$41,274▼ $73,595
Pledges and Grants Receivable$50,000$25,000▼ $25,000
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$18,800,698$17,438,523▼ $1,362,175
Other Assets Total$1,360$2,680▲ $1,320
Liabilities
Mortgage Notes Payable Secured by Investment Property$5,700,489$5,594,217▼ $106,272
Deferred Revenue$1,118,482$1,079,893▼ $38,589
Accounts Payable and Accrued Expenses$531,266$451,145▼ $80,121
Total Liabilities$7,350,237$7,125,255▼ $224,982
Net Assets / Fund Balance
Unrestricted Net Assets$11,326,908$10,191,015▼ $1,135,893
Permanently Rstr Net Assets$80,272$80,272→ $0
Temporarily Rstr Net Assets$43,281$41,981▼ $1,300
Total Net Assets Fund Balance$11,450,461$10,313,268▼ $1,137,193
Total Liabilities and Net Assets / Fund Balance$18,800,698$17,438,523▼ $1,362,175

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$12,166,135$6,635,474$18,801,609
Leasehold Improvements$2,091,070$1,824,726$3,915,796
Land$1,281,463-$1,281,463
Equipment$487,123$644,525$1,131,648
Other Land Buildings$171,383$207,857$379,240

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$583,835-▼ $19,319-$546,842
2014$633,296-▼ $19,309-$583,835
2013$611,691-▲ $51,530-$633,296
2012$581,797-▲ $51,294-$611,691
2011$619,601$1,950▼ $16,054-$581,797
Compensation and Service Providers
Top Officer Pay63rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Robert GravesHead of SchoolFT$213,808$213,808
Susan RiceInterim Head of SchoolFT$65,344$65,344

Board Members and Trustees

NameTitle
Gail KocenChairperson
David Mulevice Chair
Alise MauritzsonTrustee
Jason HuskeyTrustee
John ShayTrustee
Judith Davis-morrisonTrustee
Laura NeilTrustee
Paul StoneTrustee
Timothy JochenTrustee
Thomas G ClarkeSecretary
Jennifer JenkinsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$459,907
Program Service Revenue
$5,271,576
Investment Income
$74,157
Other Revenue
$119,428
All Other Contributions
$459,907
Change in Net Assets
$-1,084,591

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,925,068
Revenue Not Reported on Form 990
$50,061
Total Revenue per Audited Statements
$5,975,129
Total Revenue per Form 990
$5,925,068
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,079,299
Other Expenses$2,930,360
Total Fundraising Expense$40,793
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,409,456$771,025$32,127$3,212,608
Depreciation Depletion$639,037$213,012-$852,049
All Other Expenses$452,012$18,937-$470,949
Payroll Taxes$228,404$73,090$3,045$304,539
Other Employee Benefits$212,250$67,920$2,830$283,000
Current Officers, Directors, Trustees, and Key Employees$209,364$66,997$2,791$279,152
Interest$177,210$59,070-$236,280
Fees for Services Other$189,865$29,020-$218,885
Other Expenses$134,621$44,874-$179,495
Insurance$94,949$10,550-$105,499
Advertising-$100,599-$100,599
Fees for Services Accounting-$14,300-$14,300
Total Functional Expenses$5,253,320$1,715,546$40,793$7,009,659

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,112,322
Expenses per Audited Statements$7,009,659
Total Expenses per Form 990$7,009,659
Expenses Not Reported on Form 990$102,663
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$213,947
Fundraising Direct Expenses$102,663
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Gala$187,797$187,797$39,427$148,370
Golf Event$26,150$26,150$11,189$14,961
Total Events$213,947$213,947$102,663$111,284
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-
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
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

“Annual board meeting discussion.”

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

“Annual board meeting discussion.”

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

“The compensation committee reviews the headmaster's contract with comparative data from other independent schools as reported by the california association of independent schools, as well as national and local data from similar institutions.”

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

“Documents are available by request to the headmaster or the business manager through the school's administrative office.”

Filing and Contact Details

Filer

Filer Name
The Palm Valley School
EIN
95-2133079
Phone
7603280861
Address
35525 Da Vall Dr, Rancho Mirage, CA 92270

Signing Officer

Name
Gail Kocen
Title
Chair
Signed
2017-01-16
Discuss with paid preparer
Yes

Organization Details

Formed
2000
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
12
Employees
122
Volunteers
150

Preparer

Firm
Maryanov Madsen Gordon Campbell
Address
PO Box 1826, PALM SPRINGS, CA 92263-1826
Preparer
Steven T Erickson CPA
Phone
7603206642
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2: Change of Oversight or Selection Process

“The organization's independent audit committee reviews the audit and will meet with the auditor prior to the audit report being finalized.”

Financial Statement Notes

Part X : FIN48 Footnote

“The School is a not-for-profit organization exempt from taxes under Section 501(c)(3) of the Internal Revenue Code. The School has not engaged in any activities subject to income tax on unrelated business income; therefore, no provision has been made for income taxes.The School's policy is to record income tax related interest and penalties in operating expenses. For the years ended June 30, 2016 and 2015, there was no interest or penalties expense recorded and no accrued interest and penalties. Accounting principles generally accepted in the United States of America require management to evaluate tax positions taken by the School and recognize a tax liability (or asset) if the School has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has analyzed the tax positions taken by the School, and has concluded that as of June 30, 2015 and 2014 there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the financial statements. The School is subject to routine audits by taxing jurisdictions; however there are currently no audits for any tax periods in progress. Management believes it is no longer subject to income tax examinations by the IRS prior to 2012 or the FTB prior to 2011.”

Part XI, Line 2D: Other revenue amounts included in F/S but not included on form 990

“Special event direct expenses $102663”

Part XII, Line 2D: Other expenses and losses per audited F/S

“Special event direct expenses $102663”

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IRS990/Form990PartVIISectionAGrp/TitleTxt0Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt1Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt2Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt3Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt4Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt5CHAIRPERSON
IRS990/Form990PartVIISectionAGrp/TitleTxt6Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt7vice Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt8Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt9Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt10Trustee
IRS990/Form990PartVIISectionAGrp/TitleTxt11HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt12INTERIM HEAD OF SCHOOL
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IRS990/InterestGrp/TotalAmt0236280
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IRS990/InvestmentsPubTradedSecGrp/EOYAmt0568816
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IRS990/LoanOutstandingInd0false
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0Palm Valley School is an exceptional learning community that educates, nurtures, and challenges each student to achieve excellence and contribute to our global society.
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IRS990/NetIncmFromFundraisingEvtGrp/ExclusionAmt0111284
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt0111284
IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt00
IRS990/NetRentalIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt02225
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt02225
IRS990/NetUnrlzdGainsLossesInvstAmt0-52602
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/TotalAmt00
IRS990/OfficerMailingAddressInd0false
IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt01360
IRS990/OtherAssetsTotalGrp/EOYAmt02680
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt02830
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt067920
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt0212250
IRS990/OtherEmployeeBenefitsGrp/TotalAmt0283000
IRS990/OtherExpensesGrp/Desc0UTILITIES
IRS990/OtherExpensesGrp/Desc1REPAIRS AND MAINTENANCE
IRS990/OtherExpensesGrp/Desc2OTHER OVERHEAD
IRS990/OtherExpensesGrp/Desc3SUPPLIE, POSTAGE, & PRINTING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt070811
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt159189
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2116152
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt344874
IRS990/OtherExpensesGrp/ProgramServicesAmt0212434
IRS990/OtherExpensesGrp/ProgramServicesAmt1177566
IRS990/OtherExpensesGrp/ProgramServicesAmt2116152
IRS990/OtherExpensesGrp/ProgramServicesAmt3134621
IRS990/OtherExpensesGrp/TotalAmt0283245
IRS990/OtherExpensesGrp/TotalAmt1236755
IRS990/OtherExpensesGrp/TotalAmt2232304
IRS990/OtherExpensesGrp/TotalAmt3179495
IRS990/OtherRevenueMiscGrp/BusinessCd0611710
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueTotalAmt05919
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt032127
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0771025
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt02409456
IRS990/OtherSalariesAndWagesGrp/TotalAmt03212608
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt03045
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt073090
IRS990/PayrollTaxesGrp/ProgramServicesAmt0228404
IRS990/PayrollTaxesGrp/TotalAmt0304539
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt080272
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt080272
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt050000
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IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt066488
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt057509
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0AUXILARY SERVICES
IRS990/ProgramServiceRevenueGrp/Desc1TUITION & FEES
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt15078427
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15078427
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IRS990/PYOtherExpensesAmt02840981
IRS990/PYOtherRevenueAmt0142723
IRS990/PYProgramServiceRevenueAmt05407044
IRS990/PYRevenuesLessExpensesAmt0-912899
IRS990/PYSalariesCompEmpBnftPaidAmt04421910
IRS990/PYTotalExpensesAmt07262891
IRS990/PYTotalRevenueAmt06349992
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IRS990/QuidProQuoContriDisclInd0true
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-1084591
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Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$17,438,523
Liabilities
$7,125,255
Net assets
$10,313,268
Revenue
$5,925,068
Expenses
$7,009,659
Net income
-$1,084,591
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$12.7$7.63$5.05$7.73$8.43$0.70
2023Summary only. Only limited summary data is available for this year.$13.6$7.88$5.74$7.03$7.86$0.84
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.8$8.25$6.58$6.17$6.98$0.81
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$15.8$8.00$7.81$7.57$6.49$1.08
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.1$7.32$6.73$7.47$7.82$0.35
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.2$8.14$7.08$6.29$7.64$1.35
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$16.1$7.67$8.44$6.41$7.36$0.95
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$17.0$7.63$9.40$5.65$6.61$0.96
2016Detailed filing. Detailed filing data is available for this year.$17.4$7.13$10.3$5.93$7.01$1.08
2015Detailed filing. Detailed filing data is available for this year.$18.8$7.35$11.5$6.35$7.26$0.91
2014Summary only. Only limited summary data is available for this year.$20.1$7.73$12.4$7.99$6.78$1.21
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.3$8.10$11.2$7.08
2012Summary only. Only limited summary data is available for this year.$20.5$9.00$11.5$6.21$6.77$0.57