Civic Intelligence

Alba Executive Development & Applied Research in Business Administration

990 • Fiscal year 2020 • EIN 98-1108496

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 10, 2021

10 Xenias StreetAthens, Attica 11528Gr

(210) 896-4531

Siviq Scores

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

Liabilities / Assets

66th percentile

0.24x

Higher debt load relative to assets than 66% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

76th percentile

0.46x

Higher debt load relative to revenue than 76% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

22nd percentile

-11%

Higher net margin than 22% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

47th percentile

$51,881

Higher top officer pay than 47% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

23rd percentile

-2.3%

Faster asset growth than 23% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

84th percentile

40%

Faster revenue growth than 84% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Down

$4,534,108

Down $104,562 (-2.3%) from 2019

Net Assets

Down

$3,428,362

Down $111,220 (-3.1%) from 2019

Liabilities

Up

$1,105,746

Up $6,658 (+0.6%) from 2019

Revenue

Up

$2,420,323

Up $694,691 (+40%) from 2019

Expenses

Up

$2,685,068

Up $826,457 (+44%) from 2019

Net Income

Down

-$264,745

Down $131,766 (-99%) from 2019

Historical Trend

Balance Sheet Trend

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2014: $6,362,765Liabilities 2014: $2,321,645Net Assets 2014: $4,041,1202014Assets 2015: $6,053,301Liabilities 2015: $1,964,078Net Assets 2015: $4,089,2232015Assets 2016: $6,311,885Liabilities 2016: $2,330,151Net Assets 2016: $3,981,7342016Assets 2017: $5,793,849Liabilities 2017: $1,396,252Net Assets 2017: $4,397,5972017Assets 2018: $5,107,447Liabilities 2018: $1,239,999Net Assets 2018: $3,867,4482018Assets 2019: $4,638,670Liabilities 2019: $1,099,088Net Assets 2019: $3,539,5822019Assets 2020: $4,534,108Liabilities 2020: $1,105,746Net Assets 2020: $3,428,3622020Assets 2021: $4,146,756Liabilities 2021: $500,755Net Assets 2021: $3,646,0012021Assets 2022: $4,010,207Liabilities 2022: $411,123Net Assets 2022: $3,599,0842022Assets 2023: $4,606,358Liabilities 2023: $527,004Net Assets 2023: $4,079,3542023Assets 2024: $4,272,683Liabilities 2024: $474,884Net Assets 2024: $3,797,7992024Assets 2025: $4,493,215Liabilities 2025: $584,345Net Assets 2025: $3,908,8702025

Highlighted filing

2020

Assets$4,534,108
Liabilities$1,105,746
Net Assets$3,428,362

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2014: $7,424,949Expenses 2014: $7,353,995Net Income 2014: $70,9542014Revenue 2015: $7,477,144Expenses 2015: $7,429,041Net Income 2015: $48,1032015Revenue 2016: $6,851,751Expenses 2016: $6,959,240Net Income 2016: -$107,4892016Revenue 2017: $4,965,426Expenses 2017: $4,549,563Net Income 2017: $415,8632017Revenue 2018: $1,781,993Expenses 2018: $1,923,547Net Income 2018: -$141,5542018Revenue 2019: $1,725,632Expenses 2019: $1,858,611Net Income 2019: -$132,9792019Revenue 2020: $2,420,323Expenses 2020: $2,685,068Net Income 2020: -$264,7452020Revenue 2021: $2,167,600Expenses 2021: $2,196,956Net Income 2021: -$29,3562021Revenue 2022: $1,294,244Expenses 2022: $1,252,453Net Income 2022: $41,7912022Revenue 2023: $2,070,439Expenses 2023: $2,043,822Net Income 2023: $26,6172023Revenue 2024: $2,320,515Expenses 2024: $2,269,595Net Income 2024: $50,9202024Revenue 2025: $2,137,971Expenses 2025: $2,033,811Net Income 2025: $104,1602025

Highlighted filing

2020

Revenue$2,420,323
Expenses$2,685,068
Net Income-$264,745
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 10, 2021
Return Version
2020v4.1
Gross Receipts
$2,420,323
Mission and Program Overview

Mission

Our mission is to educate visionary leaders of tomorrow who will act as agents of change and help shape the future business world by pushing forward the frontiers of knowledge related to the management of business organizations, while making that knowledge relevant to practitioners. Generating and disseminating knowledge represent our twin objectives. - see more at:

Our mission is to educate visionary leaders of tomorrow who will act as agents of change and help shape the future business world by pushing forward the frontiers of knowledge relevant to practitioners. Generating and disseminating knowledge represent our twin objectives.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,720,790$3,738,657▲ $17,867
Accounts Receivable$446,712$454,271▲ $7,559
Investments Other Securities$176,372$179,590▲ $3,218
Intangible Assets$160,500$99,446▼ $61,054
Other Notes and Loans Receivable, Net$114,670$43,101▼ $71,569
Savings and Temporary Cash Investments$10,826$10,644▼ $182
Prepaid Expenses and Deferred Charges$8,481$8,359▼ $122
Cash and Non-Interest-Bearing Accounts$319$40▼ $279
Total Assets$4,638,670$4,534,108▼ $104,562
Liabilities
Other Liabilities$446,053$496,964▲ $50,911
Accounts Payable and Accrued Expenses$265,673$354,998▲ $89,325
Unsecured Notes Loans Payable$387,362$253,784▼ $133,578
Total Liabilities$1,099,088$1,105,746▲ $6,658
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,539,582$3,428,362▼ $111,220
Total Net Assets Fund Balance$3,539,582$3,428,362▼ $111,220
Total Liabilities and Net Assets / Fund Balance$4,638,670$4,534,108▼ $104,562

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$52,331$1,446,089-
Land$3,621,644--
Leasehold Improvements$64,682$900,186-
Other Securities$179,590--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Stelios ArgyrosChairman-$51,881$51,881
Magdalene GeorgiouAccountantFT$48,678$48,678
Konstantinos AxarloglouMEMBER BofD - DEAN-$43,944$43,944

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$261,315
Program Service Revenue
$1,979,043
Investment Income
$179,774
Other Revenue
$191
Change in Net Assets
$-264,745
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,692,964
Salaries, Compensation, and Employee Benefits$992,104
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$888,141--$888,141
Other Salaries and Wages$797,415--$797,415
Payroll Taxes$182,371--$182,371
Occupancy$121,596--$121,596
Depreciation Depletion$113,994--$113,994
Travel$113,504--$113,504
All Other Expenses$70,132--$70,132
Office Expenses$47,209--$47,209
Advertising$39,381--$39,381
Other Expenses$38,042--$38,042
Interest$24,855--$24,855
Fees for Services Legal$12,741--$12,741
Other Employee Benefits$12,318--$12,318
Insurance$2,477--$2,477
Total Functional Expenses$2,685,068$0$0$2,685,068
International Activity

International Summary

Offices
1

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe including Iceland and GreenlandGrant makingGraduate Program1--
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Provision for Debt$380,189
Provision for Severance Pay$116,775
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

No review was conducted or will be conducted

Governing documents etc available to public Part VI line 19

Documentation is available upon request

Filing and Contact Details

Filer

Filer Name
Alba Executive Development & Applied Research Busi
EIN
98-1108496
Address
GR

Signing Officer

Name
Magdalene Georgiou
Title
Accountant
Phone
2108964531
Signed
2021-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Magdalene Georgiou
Formed
2014
Voting Board Members
12
Independent Board Members
12
Employees
0

Preparer

Firm
Vardalos & Associates Inc
Address
6831 WEST HIGHLAND DRIVE, Palos Heights, IL 60463
Preparer
Eleni Vardalos
Phone
2247896673
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Foreign exchange differences from euro, the currency used, to usd. Adjustment for fixed assets

List of other fees for services expenses Part IX line 11G

Professors 540,892techical 347,249

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IRS990/NetAssetsOrFundBalancesBOYAmt03539582
IRS990/NetAssetsOrFundBalancesEOYAmt03428362
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt03539582
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt03428362
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ProgramServicesAmt0121596
IRS990/OccupancyGrp/TotalAmt0121596
IRS990/OfficeExpensesGrp/ProgramServicesAmt047209
IRS990/OfficeExpensesGrp/TotalAmt047209
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt0153525
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt012318
IRS990/OtherEmployeeBenefitsGrp/TotalAmt012318
IRS990/OtherExpensesGrp/Desc0DUES & SUBSCRIPTIONS
IRS990/OtherExpensesGrp/Desc1DONATIONS
IRS990/OtherExpensesGrp/Desc2SEMINARS
IRS990/OtherExpensesGrp/Desc3ENTERTAINMENT
IRS990/OtherExpensesGrp/ProgramServicesAmt091065
IRS990/OtherExpensesGrp/ProgramServicesAmt199775
IRS990/OtherExpensesGrp/ProgramServicesAmt230052
IRS990/OtherExpensesGrp/ProgramServicesAmt338042
IRS990/OtherExpensesGrp/TotalAmt091065
IRS990/OtherExpensesGrp/TotalAmt199775
IRS990/OtherExpensesGrp/TotalAmt230052
IRS990/OtherExpensesGrp/TotalAmt338042
IRS990/OtherLiabilitiesGrp/BOYAmt0446053
IRS990/OtherLiabilitiesGrp/EOYAmt0496964
IRS990/OtherRevenueMiscGrp/BusinessCd0611430
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt0191
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0191
IRS990/OtherRevenueTotalAmt0191
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0797415
IRS990/OtherSalariesAndWagesGrp/TotalAmt0797415
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt0114670
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt043101
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt0182371
IRS990/PayrollTaxesGrp/TotalAmt0182371
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt08481
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt08359
IRS990/PrincipalOfficerNm0MAGDALENE GEORGIOU
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611430
IRS990/ProgramServiceRevenueGrp/Desc0GRADUATE PROGRAM
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt01979043
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt01979043
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0245973
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt06918
IRS990/PYOtherExpensesAmt01342916
IRS990/PYOtherRevenueAmt01615
IRS990/PYProgramServiceRevenueAmt01471126
IRS990/PYRevenuesLessExpensesAmt0-132979
IRS990/PYSalariesCompEmpBnftPaidAmt0515695
IRS990/PYTotalExpensesAmt01858611
IRS990/PYTotalRevenueAmt01725632
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt0-264745
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt02420323
IRS990/SavingsAndTempCashInvstGrp/BOYAmt010826
IRS990/SavingsAndTempCashInvstGrp/EOYAmt010644
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/LandGrp/BookValueAmt03621644
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt03621644
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt064682
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0900186
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt0964868
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt052331
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01446089
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt01498420
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0116775
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1380189
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PROVISION FOR SEVERANCE PAY
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1PROVISION FOR DEBT
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0179590
IRS990ScheduleD/OtherSecuritiesGrp/Desc0MARKETABLE SECURITIES
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03738657
IRS990ScheduleD/TotalBookValueSecuritiesAmt0179590
IRS990ScheduleD/TotalLiabilityAmt0496964
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0false
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0false
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0false
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt01
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Europe including Iceland and Greenland
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0GRADUATE PROGRAM
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Grant making
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalOfficesCnt01
IRS990ScheduleF/TotalOfficeCnt01
IRS990ScheduleF/TransferToForeignCorpInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO REVIEW WAS CONDUCTED OR WILL BE CONDUCTED
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DOCUMENTATION IS AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FOREIGN EXCHANGE DIFFERENCES FROM EURO, THE CURRENCY USED, TO USD. ADJUSTMENT FOR FIXED ASSETS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PROFESSORS 540,892TECHICAL 347,249
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3List of other fees for services expenses Part IX line 11g
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04638670
IRS990/TotalAssetsEOYAmt04534108
IRS990/TotalAssetsGrp/BOYAmt04638670
IRS990/TotalAssetsGrp/EOYAmt04534108
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0261315
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02685068
IRS990/TotalFunctionalExpensesGrp/TotalAmt02685068
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01099088
IRS990/TotalLiabilitiesEOYAmt01105746
IRS990/TotalLiabilitiesGrp/BOYAmt01099088

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.49$0.58$3.91$2.14$2.03$0.10
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.27$0.47$3.80$2.32$2.27$0.05
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.61$0.53$4.08$2.07$2.04$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.01$0.41$3.60$1.29$1.25$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.15$0.50$3.65$2.17$2.20$0.03
2020Detailed filing. Detailed filing data is available for this year.$4.53$1.11$3.43$2.42$2.69$0.26
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.64$1.10$3.54$1.73$1.86$0.13
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.11$1.24$3.87$1.78$1.92$0.14
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.79$1.40$4.40$4.97$4.55$0.42
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.31$2.33$3.98$6.85$6.96$0.11
2015Detailed filing. Detailed filing data is available for this year.$6.05$1.96$4.09$7.48$7.43$0.05
2014Detailed filing. Detailed filing data is available for this year.$6.36$2.32$4.04$7.42$7.35$0.07