Civic Intelligence

Grace Evangelical College & Seminary

990 • Fiscal year 2014 • EIN 01-0543513

Jul 01, 2013 to Jun 30, 2014 • Filed on Oct 21, 2014

502 Odlin RoadBangor, ME 04401

(207) 947-6576

Siviq Scores

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

Liabilities / Assets

31st percentile

0.00x

Higher debt load relative to assets than 31% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Liabilities / Revenue

42nd percentile

0.02x

Higher debt load relative to revenue than 42% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Net Margin

20th percentile

-11%

Higher net margin than 20% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2014 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2014

Asset Growth

58th percentile

5.3%

Faster asset growth than 58% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Revenue Growth

2nd percentile

-68%

Faster revenue growth than 2% of similar nonprofits.

2014 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2013 to 2014

Assets

Up

$818,237

Up $41,015 (+5.3%) from 2013

Net Assets

Up

$814,678

Up $39,666 (+5.1%) from 2013

Liabilities

Up

$3,559

Up $1,349 (+61%) from 2013

Revenue

Down

$152,476

Down $321,639 (-68%) from 2013

Expenses

Up

$168,606

Up $23,671 (+16%) from 2013

Net Income

Down

-$16,130

Down $345,310 (-105%) from 2013

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0Assets 2012: $405,056Liabilities 2012: $1,9242012Assets 2013: $777,222Liabilities 2013: $2,210Net Assets 2013: $775,0122013Assets 2014: $818,237Liabilities 2014: $3,559Net Assets 2014: $814,6782014Assets 2015: $784,293Liabilities 2015: $3,260Net Assets 2015: $781,0332015Assets 2016: $867,681Liabilities 2016: $4,883Net Assets 2016: $862,7982016Assets 2017: $844,116Liabilities 2017: $5,330Net Assets 2017: $838,7862017Assets 2018: $738,949Liabilities 2018: $2,885Net Assets 2018: $736,0642018Assets 2019: $770,512Liabilities 2019: $3,300Net Assets 2019: $767,2122019Assets 2020: $648,284Liabilities 2020: $28,688Net Assets 2020: $619,5962020Assets 2021: $615,986Liabilities 2021: $28,212Net Assets 2021: $587,7742021Assets 2022: $521,827Liabilities 2022: $3,025Net Assets 2022: $518,8022022Assets 2023: $734,771Liabilities 2023: $2,294Net Assets 2023: $732,4772023Assets 2024: $638,610Liabilities 2024: $13,531Net Assets 2024: $625,0792024

Highlighted filing

2014

Assets$818,237
Liabilities$3,559
Net Assets$814,678

Operations Trend

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

$600K$400K$200K$0-$200KRevenue 2012: $150,045Expenses 2012: $158,566Net Income 2012: -$8,5212012Revenue 2013: $474,115Expenses 2013: $144,935Net Income 2013: $329,1802013Revenue 2014: $152,476Expenses 2014: $168,606Net Income 2014: -$16,1302014Revenue 2015: $118,763Expenses 2015: $143,117Net Income 2015: -$24,3542015Revenue 2016: $169,564Expenses 2016: $181,554Net Income 2016: -$11,9902016Revenue 2017: $187,265Expenses 2017: $228,119Net Income 2017: -$40,8542017Revenue 2018: $133,220Expenses 2018: $194,911Net Income 2018: -$61,6912018Revenue 2019: $150,116Expenses 2019: $188,662Net Income 2019: -$38,5462019Revenue 2020: $113,620Expenses 2020: $190,068Net Income 2020: -$76,4482020Revenue 2021: $183,226Expenses 2021: $206,070Net Income 2021: -$22,8442021Revenue 2022: $255,917Expenses 2022: $228,808Net Income 2022: $27,1092022Revenue 2023: $399,859Expenses 2023: $215,291Net Income 2023: $184,5682023Revenue 2024: $137,335Expenses 2024: $304,232Net Income 2024: -$166,8972024

Highlighted filing

2014

Revenue$152,476
Expenses$168,606
Net Income-$16,130
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Oct 21, 2014
Return Version
2013v3.0
Gross Receipts
$152,597
Mission and Program Overview

Mission

To educate, equip and provide servant leaders for the body of christ to fulfill the great commission.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$428,668$481,062▲ $52,394
Land, Buildings, and Equipment, Net$333,990$331,316▼ $2,674
Cash and Non-Interest-Bearing Accounts$9,822$4,324▼ $5,498
Accounts Receivable$4,621$1,535▼ $3,086
Inventories for Sale or Use$121$0▼ $121
Total Assets$777,222$818,237▲ $41,015
Liabilities
Accounts Payable and Accrued Expenses$1,055$2,146▲ $1,091
Other Liabilities$1,155$1,413▲ $258
Total Liabilities$2,210$3,559▲ $1,349
Net Assets / Fund Balance
Unrestricted Net Assets$456,945$496,663▲ $39,718
Permanently Rstr Net Assets$318,015$318,015→ $0
Temporarily Rstr Net Assets$52$0▼ $52
Total Net Assets Fund Balance$775,012$814,678▲ $39,666
Total Liabilities and Net Assets / Fund Balance$777,222$818,237▲ $41,015

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$168,173$27,779$195,952
Land$151,915-$151,915
Other Land Buildings$6,015$27,659$33,674
Equipment$5,213$9,507$14,720

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$428,668$0▲ $79,264$26,500$481,062
2012$51,481$323,330▲ $56,837$2,500$428,668
2011$58,580$10,000▼ $1,720$15,000$51,481
2010$94,928-▲ $4,361$40,000$58,580
2009$85,640-▲ $10,315-$94,928
Compensation and Service Providers

Board Members and Trustees

NameTitle
Glenn WilsonTrustee/chairman
Rev Dr W Lyman PhillipsPresident
Willard RileyTrustee/vice-chairman
Paul ZebiakTrustee
Rev Dr Jerry MickTrustee
Ron ChaffeeTrustee
Warren SmithTrustee
Dean SchroehlerClerk/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$58,363
Program Service Revenue
$70,380
Investment Income
$23,471
Other Revenue
$262
All Other Contributions
$58,363
Change in Net Assets
$-16,130
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$99,276
Other Expenses$69,330
Total Fundraising Expense$2,504
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$70,836$19,080$2,305$92,221
Occupancy$16,992$3,065$23$20,080
Depreciation Depletion$7,525$716-$8,241
Payroll Taxes$5,419$1,460$176$7,055
Advertising$4,795--$4,795
Office Expenses$2,577$1,062-$3,639
Travel$3,630--$3,630
Fees for Services Accounting-$2,200-$2,200
Other Expenses$1,054--$1,054
Conferences and Meetings$931--$931
All Other Expenses$-33--$-33
Total Functional Expenses$138,519$27,583$2,504$168,606
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
Payroll Taxes Payable$1,413
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
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, Part VI, Section B, Line 11

The executive director reviews the return with a board member prior to filing the return.

Form 990, Part VI, Section C, Line 19

The organization will make available at the organization's office any requested public documents.

Filing and Contact Details

Filer

EIN
01-0543513
Phone
2079476576

Signing Officer

Name
Rev Dr W Lyman Phillips
Title
President
Phone
2079476576
Signed
2014-10-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rev Dr W Lyman Phillip
Formed
2002
Legal Domicile
Me
Voting Board Members
7
Independent Board Members
7
Employees
7
Volunteers
1

Preparer

Preparer
Vicki J Vincent
Phone
2079455695
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

No change from prior year

Financial Statement Notes

PART V, LINE 4:

To further the mission of grace evangelical college & seminary, which is to educate, equip and provide servant leaders for the body of christ to fulfill the great commission.

PART X, LINE 2:

Grace evangelical college & seminary is exempt from federal and state income taxes under section 501(c)(3) of the internal revenue code. The organization has adopted the provisions of authoritative guidance regarding accounting for uncertainty in income taxes. The authoritative guidance provides that a tax benefit or liability from an uncertain tax position should be recognized when it is more likely than not that a position will not be sustained upon examination. As of june 30, 2014, management has concluded that the organization had no uncertain tax positions. The organization's federal information returns for years beginning in 2012, 2011 and 2010 are subject to examination by the irs or the state of maine, generally for three years after they were filed.

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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BoardDesignatedBalanceEOYPct00.33890
IRS990ScheduleD/BuildingsGrp/BookValueAmt0168173
IRS990ScheduleD/BuildingsGrp/DepreciationAmt027779
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0195952
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt0370
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt0428668
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0481062
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt079264
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt026500
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt0480
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt051481
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt0323330
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0428668
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt056837
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt02500
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt0379
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt058580
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt010000
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt051481
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0-1720
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt015000
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt0709
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt094928
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt058580
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt04361
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt040000
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt01027
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt085640
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt094928
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt010315
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt05213
IRS990ScheduleD/EquipmentGrp/DepreciationAmt09507
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt014720
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0151915
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0151915
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt06015
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt027659
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt033674
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01413
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PAYROLL TAXES PAYABLE
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.66110
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0TO FURTHER THE MISSION OF GRACE EVANGELICAL COLLEGE & SEMINARY, WHICH IS TO EDUCATE, EQUIP AND PROVIDE SERVANT LEADERS FOR THE BODY OF CHRIST TO FULFILL THE GREAT COMMISSION.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GRACE EVANGELICAL COLLEGE & SEMINARY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE ORGANIZATION HAS ADOPTED THE PROVISIONS OF AUTHORITATIVE GUIDANCE REGARDING ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. THE AUTHORITATIVE GUIDANCE PROVIDES THAT A TAX BENEFIT OR LIABILITY FROM AN UNCERTAIN TAX POSITION SHOULD BE RECOGNIZED WHEN IT IS MORE LIKELY THAN NOT THAT A POSITION WILL NOT BE SUSTAINED UPON EXAMINATION. AS OF JUNE 30, 2014, MANAGEMENT HAS CONCLUDED THAT THE ORGANIZATION HAD NO UNCERTAIN TAX POSITIONS. THE ORGANIZATION'S FEDERAL INFORMATION RETURNS FOR YEARS BEGINNING IN 2012, 2011 AND 2010 ARE SUBJECT TO EXAMINATION BY THE IRS OR THE STATE OF MAINE, GENERALLY FOR THREE YEARS AFTER THEY WERE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART V, LINE 4:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1PART X, LINE 2:
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.00000
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0331316
IRS990ScheduleD/TotalLiabilityAmt01413
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE EXECUTIVE DIRECTOR REVIEWS THE RETURN WITH A BOARD MEMBER PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION WILL MAKE AVAILABLE AT THE ORGANIZATION'S OFFICE ANY REQUESTED PUBLIC DOCUMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO CHANGE FROM PRIOR YEAR
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt052
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd01
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0777222
IRS990/TotalAssetsEOYAmt0818237
IRS990/TotalAssetsGrp/BOYAmt0777222
IRS990/TotalAssetsGrp/EOYAmt0818237
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt058363
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02504
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt027583
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0138519
IRS990/TotalFunctionalExpensesGrp/TotalAmt0168606
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt02210
IRS990/TotalLiabilitiesEOYAmt03559
IRS990/TotalLiabilitiesGrp/BOYAmt02210
IRS990/TotalLiabilitiesGrp/EOYAmt03559
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0775012
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0814678
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0138519
IRS990/TotalProgramServiceRevenueAmt070380
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt023471
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt070642
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0152476
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0777222
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0818237
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt03630
IRS990/TravelGrp/TotalAmt03630
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X

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.$6.39$0.14$6.25$1.37$3.04$1.67
2023Detailed filing. Detailed filing data is available for this year.$7.35$0.02$7.32$4.00$2.15$1.85
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.22$0.03$5.19$2.56$2.29$0.27
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.16$0.28$5.88$1.83$2.06$0.23
2020Detailed filing. Detailed filing data is available for this year.$6.48$0.29$6.20$1.14$1.90$0.76
2019Detailed filing. Detailed filing data is available for this year.$7.71$0.03$7.67$1.50$1.89$0.39
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.39$0.03$7.36$1.33$1.95$0.62
2017Detailed filing. Detailed filing data is available for this year.$8.44$0.05$8.39$1.87$2.28$0.41
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.68$0.05$8.63$1.70$1.82$0.12
2015Detailed filing. Detailed filing data is available for this year.$7.84$0.03$7.81$1.19$1.43$0.24
2014Detailed filing. Detailed filing data is available for this year.$8.18$0.04$8.15$1.52$1.69$0.16
2013Summary only. Only limited summary data is available for this year.$7.77$0.02$7.75$4.74$1.45$3.29
2012Summary only. Only limited summary data is available for this year.$4.05$0.02$1.50$1.59$0.09
Peer Organizations

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