Civic Intelligence

Hawaii Insurance Bureau Inc

990 • Fiscal year 2019 • EIN 99-0140916

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 26, 2020

715 South King Street No St 320Honolulu, HI 96813

(808) 531-2771

Siviq Scores

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

Liabilities / Assets

9th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

10th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Net Margin

23rd percentile

-2.6%

Higher net margin than 23% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

24th percentile

$0

Higher top officer pay than 24% of similar nonprofits.

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

2019 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2019

Asset Growth

25th percentile

-1.8%

Faster asset growth than 25% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

43rd percentile

1.7%

Faster revenue growth than 43% of similar nonprofits.

2019 filings • 501(c)6 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Down

$1,679,117

Down $30,488 (-1.8%) from 2018

Net Assets

Down

$1,679,117

Down $30,488 (-1.8%) from 2018

Liabilities

Flat

$0

Flat from 2018

Revenue

Up

$3,561,638

Up $59,568 (+1.7%) from 2018

Expenses

Up

$3,655,921

Up $41,432 (+1.1%) from 2018

Net Income

Up

-$94,283

Up $18,136 (+16%) from 2018

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,224,990Liabilities 2010: $0Net Assets 2010: $1,224,9902010Assets 2011: $1,329,517Liabilities 2011: $0Net Assets 2011: $1,329,5172011Assets 2012: $1,355,968Liabilities 2012: $0Net Assets 2012: $1,355,9682012Assets 2013: $1,369,017Liabilities 2013: $0Net Assets 2013: $1,369,0172013Assets 2014: $1,489,006Liabilities 2014: $0Net Assets 2014: $1,489,0062014Assets 2015: $1,588,929Liabilities 2015: $0Net Assets 2015: $1,588,9292015Assets 2016: $1,770,853Liabilities 2016: $0Net Assets 2016: $1,770,8532016Assets 2017: $1,847,220Liabilities 2017: $0Net Assets 2017: $1,847,2202017Assets 2018: $1,709,605Liabilities 2018: $0Net Assets 2018: $1,709,6052018Assets 2019: $1,679,117Liabilities 2019: $0Net Assets 2019: $1,679,1172019Assets 2020: $1,878,456Liabilities 2020: $0Net Assets 2020: $1,878,4562020Assets 2021: $1,784,825Liabilities 2021: $0Net Assets 2021: $1,784,8252021Assets 2022: $1,667,783Liabilities 2022: $0Net Assets 2022: $1,667,7832022Assets 2023: $1,861,534Liabilities 2023: $0Net Assets 2023: $1,861,5342023Assets 2024: $1,982,353Liabilities 2024: $0Net Assets 2024: $1,982,3532024

Highlighted filing

2019

Assets$1,679,117
Liabilities$0
Net Assets$1,679,117

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,832,6872010Expenses 2011: $2,742,9712011Expenses 2012: $2,828,0982012Revenue 2013: $2,996,545Expenses 2013: $2,919,979Net Income 2013: $76,5662013Revenue 2014: $3,170,744Expenses 2014: $3,072,111Net Income 2014: $98,6332014Revenue 2015: $3,312,037Expenses 2015: $3,189,109Net Income 2015: $122,9282015Revenue 2016: $3,514,489Expenses 2016: $3,320,122Net Income 2016: $194,3672016Revenue 2017: $3,444,244Expenses 2017: $3,370,502Net Income 2017: $73,7422017Revenue 2018: $3,502,070Expenses 2018: $3,614,489Net Income 2018: -$112,4192018Revenue 2019: $3,561,638Expenses 2019: $3,655,921Net Income 2019: -$94,2832019Revenue 2020: $3,839,417Expenses 2020: $3,713,039Net Income 2020: $126,3782020Revenue 2021: $3,889,667Expenses 2021: $3,902,655Net Income 2021: -$12,9882021Revenue 2022: $3,964,251Expenses 2022: $3,876,367Net Income 2022: $87,8842022Revenue 2023: $4,190,761Expenses 2023: $4,029,804Net Income 2023: $160,9572023Revenue 2024: $4,508,500Expenses 2024: $4,361,610Net Income 2024: $146,8902024

Highlighted filing

2019

Revenue$3,561,638
Expenses$3,655,921
Net Income-$94,283
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 26, 2020
Return Version
2019v5.1
Gross Receipts
$3,956,601
Mission and Program Overview

Mission

To provide quality insurance related products and services through state-of-the-art technologies in the most effective manner.

To provide quality insurance related products and services through state-of-the-art technologies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,317,764$1,435,080▲ $117,316
Savings and Temporary Cash Investments$169,247$150,433▼ $18,814
Cash and Non-Interest-Bearing Accounts$222,593$93,603▼ $128,990
Land, Buildings, and Equipment, Net$1$1→ $0
Total Assets$1,709,605$1,679,117▼ $30,488
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,709,605$1,679,117▼ $30,488
Total Net Assets Fund Balance$1,709,605$1,679,117▼ $30,488
Total Liabilities and Net Assets / Fund Balance$1,709,605$1,679,117▼ $30,488

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$1-$1
Other Securities$35,928--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Maria CarvalhoChair/president
Shannyn KottVice Chair/secretary/treas
Lane NishiokaDirector
Michael MitsukaDirector
Stephanie TokuhamaDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Direct Business Connections INCAdministrative Services715 S KING ST STE 320, Honolulu, HI 96813$1,210,602
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,525,972
Investment Income
$34,686
Other Revenue
$980
Change in Net Assets
$-94,283

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,561,638
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$63,795
Total Revenue per Audited Statements
$3,625,433
Total Revenue per Form 990
$3,561,638
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,610,789
Salaries, Compensation, and Employee Benefits$45,132
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Pension Plan Contributions---$45,132
Fees for Services Other---$24,251
Insurance---$5,524
Fees for Service Investment Mgmnt Fees---$3,141
Other Expenses---$1,127
Travel---$273
Total Functional Expenses$0$0$0$3,655,921

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,655,921
Total Expenses per Audited Statements$3,655,921
Total Expenses per Form 990$3,655,921
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
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
No
Other officer compensation reviewed
No
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 6

The organization has members. Members are insurers who transact a majority of the lines of insurance for which such member is affiliated with the organization. Additionally, the organization has subscribers. They are insurers who are affiliated for less than the majority of lines of insurance. Members have one vote but subscribers do not have a voting right.

Form 990, Part VI, Section A, Line 7A

Board of directors are elected through the annual meeting for members.

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

The organization's chairman/president and vice chair/secretary/treasurer review the form 990 prior to its filing and make the tax return available to the organization's governing body for review.

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

The conflict of interest policy covers interested persons such as directors, officers, or committee members. They have a duty to disclose any actual or possible conflicts. These parties sign a statement periodically to acknowledge receipt, understanding, and compliance with the policy.

Form 990, Part VI, Section C, Line 19

Copy provided upon request.

Form 990, Part VI, Section B, Line 15

The organization does not compensate its officers/directors and does not have any key employees.

Filing and Contact Details

Filer

Filer Name
Hawaii Insurance Bureau Inc
EIN
99-0140916
Phone
8085312771
Address
715 SOUTH KING STREET NO ST 320, HONOLULU, HI 96813
Doing Business As
Na

Signing Officer

Name
Maria Carvalho
Title
Chair/president
Phone
8085312771
Signed
2020-08-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Maria Carvalho
Formed
1983
Legal Domicile
Hi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
N&k Cpas Inc
Address
999 BISHOP ST STE 2200, HONOLULU, HI 96813-9991
Preparer
Chad K Funasaki
Phone
8085242255
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 1

The organization uses the modified cash basis of accounting.

Financial Statement Notes

PART X, LINE 2:

The hawaii insurance bureau, inc. (bureau) is recognized by the internal revenue service as an exempt organization under section 501(c)(6) of the internal revenue code. The bureau is not subject to income taxes in the u.s. Federal jurisdiction and the state. Tax regulations within each jurisdiction are subject to interpretation of the related tax laws and regulations and require significant judgment to apply.

Raw XML Appendix341 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/ActivityOrMissionDesc0TO PROVIDE QUALITY INSURANCE RELATED PRODUCTS AND SERVICES THROUGH STATE-OF-THE-ART TECHNOLOGIES.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
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IRS990/Form990PartVIISectionAGrp/PersonNm1SHANNYN KOTT
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IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE HAWAII INSURANCE BUREAU, INC. (BUREAU) IS RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE. THE BUREAU IS NOT SUBJECT TO INCOME TAXES IN THE U.S. FEDERAL JURISDICTION AND THE STATE. TAX REGULATIONS WITHIN EACH JURISDICTION ARE SUBJECT TO INTERPRETATION OF THE RELATED TAX LAWS AND REGULATIONS AND REQUIRE SIGNIFICANT JUDGMENT TO APPLY.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleD/TotalExpensesPerForm990Amt03655921
IRS990ScheduleD/TotalRevenuePerForm990Amt03561638
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03625433
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03655921
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS MEMBERS. MEMBERS ARE INSURERS WHO TRANSACT A MAJORITY OF THE LINES OF INSURANCE FOR WHICH SUCH MEMBER IS AFFILIATED WITH THE ORGANIZATION. ADDITIONALLY, THE ORGANIZATION HAS SUBSCRIBERS. THEY ARE INSURERS WHO ARE AFFILIATED FOR LESS THAN THE MAJORITY OF LINES OF INSURANCE. MEMBERS HAVE ONE VOTE BUT SUBSCRIBERS DO NOT HAVE A VOTING RIGHT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BOARD OF DIRECTORS ARE ELECTED THROUGH THE ANNUAL MEETING FOR MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S CHAIRMAN/PRESIDENT AND VICE CHAIR/SECRETARY/TREASURER REVIEW THE FORM 990 PRIOR TO ITS FILING AND MAKE THE TAX RETURN AVAILABLE TO THE ORGANIZATION'S GOVERNING BODY FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CONFLICT OF INTEREST POLICY COVERS INTERESTED PERSONS SUCH AS DIRECTORS, OFFICERS, OR COMMITTEE MEMBERS. THEY HAVE A DUTY TO DISCLOSE ANY ACTUAL OR POSSIBLE CONFLICTS. THESE PARTIES SIGN A STATEMENT PERIODICALLY TO ACKNOWLEDGE RECEIPT, UNDERSTANDING, AND COMPLIANCE WITH THE POLICY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COPY PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION DOES NOT COMPENSATE ITS OFFICERS/DIRECTORS AND DOES NOT HAVE ANY KEY EMPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION USES THE MODIFIED CASH BASIS OF ACCOUNTING.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XII, LINE 1
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01709605
IRS990/TotalAssetsEOYAmt01679117
IRS990/TotalAssetsGrp/BOYAmt01709605
IRS990/TotalAssetsGrp/EOYAmt01679117
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt03655921
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01709605
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01679117
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt03525972
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt034686
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt03526952
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt03561638
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01709605
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01679117
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt0273
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0715 SOUTH KING STREET NO ST 320
IRS990/USAddress/CityNm0HONOLULU
IRS990/USAddress/StateAbbreviationCd0HI
IRS990/USAddress/ZIPCd096813
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.HIBINC.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02021-04-22 16:20:28Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0MARIA CARVALHO
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIR/PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum08085312771
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0HAWAII INSURANCE BUREAU INC
ReturnHeader/Filer/BusinessNameControlTxt0HAWA
ReturnHeader/Filer/EIN0990140916
ReturnHeader/Filer/PhoneNum08085312771
ReturnHeader/Filer/USAddress/AddressLine1Txt0715 SOUTH KING STREET NO ST 320
ReturnHeader/Filer/USAddress/CityNm0HONOLULU
ReturnHeader/Filer/USAddress/StateAbbreviationCd0HI
ReturnHeader/Filer/USAddress/ZIPCd096813
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0BD5BC40295621535809C491008426322EBD984EF
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.234.135.196
ReturnHeader/FilingSecurityInformation/IPDt02020-08-26
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0HS
ReturnHeader/FilingSecurityInformation/IPTm021:53:50
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0990169131
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0N&K CPAS INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0999 BISHOP ST STE 2200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HONOLULU
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0HI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0968139991
ReturnHeader/PreparerPersonGrp/PhoneNum08085242255
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CHAD K FUNASAKI
ReturnHeader/ReturnTs02020-11-04T14:07:47-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.98$0.00$1.98$4.51$4.36$0.15
2023Detailed filing. Detailed filing data is available for this year.$1.86$0.00$1.86$4.19$4.03$0.16
2022Detailed filing. Detailed filing data is available for this year.$1.67$0.00$1.67$3.96$3.88$0.09
2021Detailed filing. Detailed filing data is available for this year.$1.78$0.00$1.78$3.89$3.90$0.01
2020Detailed filing. Detailed filing data is available for this year.$1.88$0.00$1.88$3.84$3.71$0.13
2019Detailed filing. Detailed filing data is available for this year.$1.68$0.00$1.68$3.56$3.66$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.71$0.00$1.71$3.50$3.61$0.11
2017Detailed filing. Detailed filing data is available for this year.$1.85$0.00$1.85$3.44$3.37$0.07
2016Detailed filing. Detailed filing data is available for this year.$1.77$0.00$1.77$3.51$3.32$0.19
2015Detailed filing. Detailed filing data is available for this year.$1.59$0.00$1.59$3.31$3.19$0.12
2014Detailed filing. Detailed filing data is available for this year.$1.49$0.00$1.49$3.17$3.07$0.10
2013Detailed filing. Detailed filing data is available for this year.$1.37$0.00$1.37$3.00$2.92$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.00$1.36$2.83
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.33$0.00$1.33$2.74
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.22$0.00$1.22$2.83