Civic Intelligence

Closed End Fund Association Inc

990 • Fiscal year 2018 • EIN 04-3403082

Jul 01, 2017 to Jun 30, 2018 • Filed on Nov 13, 2018

Organization ProfileWWW.CEFA.COM
2345 Grand Boulevard Suite 1750Kansas City, MO 64108

(816) 413-8900

Siviq Scores

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

Liabilities / Assets

99th percentile

4.18x

Higher debt load relative to assets than 99% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Liabilities / Revenue

89th percentile

0.27x

Higher debt load relative to revenue than 89% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Net Margin

5th percentile

-51%

Higher net margin than 5% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Top Officer Pay

70th percentile

$0

Higher top officer pay than 70% of similar nonprofits.

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

2018 filings • 501(c)6 • <$500k nonprofits • Source year 2018

Asset Growth

2nd percentile

-79%

Faster asset growth than 2% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

7th percentile

-39%

Faster revenue growth than 7% of similar nonprofits.

2018 filings • 501(c)6 • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets99th percentile

Assets

Down

$22,285

Down $83,055 (-79%) from 2017

Net Assets

Up

-$70,789

Up $27,529 (+28%) from 2017

Liabilities

Down

$93,074

Down $110,584 (-54%) from 2017

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin5th percentile

Revenue

Down

$339,770

Down $213,712 (-39%) from 2017

Expenses

Down

$514,241

Down $86,933 (-14%) from 2017

Net Income

Down

-$174,471

Down $126,779 (-266%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

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

$300K$200K$100K$0-$100K-$200KAssets 2011: $70,037Net Assets 2011: $70,0372011Assets 2012: $94,692Liabilities 2012: $0Net Assets 2012: $94,6922012Assets 2013: $86,272Liabilities 2013: $0Net Assets 2013: $86,2722013Assets 2014: $108,972Liabilities 2014: $0Net Assets 2014: $108,9722014Assets 2015: $3,036Liabilities 2015: $469Net Assets 2015: $2,5672015Assets 2016: $122,786Liabilities 2016: $173,412Net Assets 2016: -$50,6262016Assets 2017: $105,340Liabilities 2017: $203,658Net Assets 2017: -$98,3182017Assets 2018: $22,285Liabilities 2018: $93,074Net Assets 2018: -$70,7892018Assets 2019: $104,098Liabilities 2019: $132,610Net Assets 2019: -$28,5122019Assets 2020: $92,264Liabilities 2020: $57,495Net Assets 2020: $34,7692020Assets 2021: $54,181Liabilities 2021: $57,786Net Assets 2021: -$3,6052021Assets 2022: $31,242Liabilities 2022: $73,320Net Assets 2022: -$42,0782022Assets 2023: $13,814Liabilities 2023: $73,671Net Assets 2023: -$59,8572023Assets 2024: $72,293Liabilities 2024: $159,790Net Assets 2024: -$87,4972024Assets 2025: $24,203Liabilities 2025: $134,747Net Assets 2025: -$110,5442025

Highlighted filing

2018

Assets$22,285
Liabilities$93,074
Net Assets-$70,789
Open 2018 Filing

Operations Trend

Revenue Growth7th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $187,728Expenses 2011: $211,969Net Income 2011: -$24,2412011Expenses 2012: $212,9942012Revenue 2013: $287,481Expenses 2013: $295,901Net Income 2013: -$8,4202013Revenue 2014: $398,651Expenses 2014: $375,951Net Income 2014: $22,7002014Revenue 2015: $336,168Expenses 2015: $442,573Net Income 2015: -$106,4052015Revenue 2016: $430,765Expenses 2016: $412,491Net Income 2016: $18,2742016Revenue 2017: $553,482Expenses 2017: $601,174Net Income 2017: -$47,6922017Revenue 2018: $339,770Expenses 2018: $514,241Net Income 2018: -$174,4712018Revenue 2019: $351,071Expenses 2019: $308,795Net Income 2019: $42,2762019Revenue 2020: $286,219Expenses 2020: $281,348Net Income 2020: $4,8712020Revenue 2021: $219,701Expenses 2021: $258,075Net Income 2021: -$38,3742021Revenue 2022: $205,769Expenses 2022: $244,242Net Income 2022: -$38,4732022Revenue 2023: $240,964Expenses 2023: $256,527Net Income 2023: -$15,5632023Revenue 2024: $252,980Expenses 2024: $280,355Net Income 2024: -$27,3752024Revenue 2025: $218,261Expenses 2025: $241,309Net Income 2025: -$23,0482025

Highlighted filing

2018

Revenue$339,770
Expenses$514,241
Net Income-$174,471
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Nov 13, 2018
Return Version
2017v2.3
Gross Receipts
$339,770
Mission and Program Overview

Mission

Cefa is committed to educating the investing public about the many benefits of closed end products and to provide a resource for information about its members and their offerings

Closed end fund association is committed to educating the investing public about the many benefits of closed end fund products and to provide a resource for information about its members and their offerings

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$97,811$13,682▼ $84,129
Cash and Non-Interest-Bearing Accounts$7,529$8,273▲ $744
Accounts Receivable-$330-
Total Assets$105,340$22,285▼ $83,055
Liabilities
Deferred Revenue$202,000--
Accounts Payable and Accrued Expenses$1,658$93,074▲ $91,416
Total Liabilities$203,658$93,074▼ $110,584
Net Assets / Fund Balance
Unrestricted Net Assets$-98,318$-70,789▲ $27,529
Total Net Assets Fund Balance$-98,318$-70,789▲ $27,529
Total Liabilities and Net Assets / Fund Balance$105,340$22,285▼ $83,055
Compensation and Service Providers
Top Officer Pay70th percentile

Board Members and Trustees

NameTitle
David ChristensenBoard Member
David LeggetteBoard Member
Dennis EmanuelBoard Member
Hepson UzcanBoard Member
Jeff KeeleBoard Member
Jonathan IsaacBoard Member
Larry AntonatosBoard Member
Laura WoodwardBoard Member
Lelia LongBoard Member
Lynn WaltherBoard Member
Michael CiminiBoard Member
Pam KeartneyBoard Member
Robert BushBoard Member
Ted ValentiBoard Member
Anne KritzmireBoard Presid
Jonathan MorganBoard Treasu
Brian SmithExecutive Di
Chris LarsenMember at La
Rennie McconnochieMember at La

Highest Paid Contractors

ContractorServicesLocationCompensation
Smith Group INCManagement Co2345 GRAND BOULEVARD SUITE 1750, Kansas City, MO 64108$180,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$339,750
Investment Income
$20
Other Revenue
$0
Change in Net Assets
$-174,471
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$514,241
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management---$180,000
Fees for Services Other---$173,550
Conferences and Meetings---$77,177
Information Technology---$30,814
Fees for Services Accounting---$14,985
Occupancy---$12,000
Advertising---$1,732
Office Expenses---$680
Other Expenses---$400
All Other Expenses---$341
Total Functional Expenses$0$0$0$514,241
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
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
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The organization contracts with smith group, inc. To perform management duties and day to day operations of the organization. No employee of smith group, inc. Holds voting rights with respect to the organization.”

Form 990, Page 6, Part VI, Line 11B

“The organization's completed form 990 is reviewed by the organization's management. The board of governors is given an opportunity to view the form 990 also. After the return has been reviewed by all interested parties, and all questions answered satisfactorily, the return is filed.”

Form 990, Page 6, Part VI, Line 19

“No documents available to the public”

Filing and Contact Details

Filer

Filer Name
Closed End Fund Association Inc
EIN
04-3403082
Phone
8164138900
Address
2345 GRAND BOULEVARD SUITE 1750, KANSAS CITY, MO 64108

Signing Officer

Name
Brian Smith
Title
Executive Director
Phone
8164138900
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hepson Uzcan
Formed
1998
Legal Domicile
Mo
Voting Board Members
18
Independent Board Members
18
Employees
0

Preparer

Firm
Mcruer & Associates LLC
Address
1251 NW BRIARCLIFF PKWY STE 100, KANSAS CITY, MO 64116-1776
Preparer
Scott Mcruer
Phone
8167417882
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Marketing program management 173,550 0 0”

Raw XML Appendix381 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.

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IRS990/OperateHospitalInd0false
IRS990/Organization501cInd0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherExpensesGrp/Desc0OTHER OPERATING EXPENSES
IRS990/OtherExpensesGrp/Desc1MEALS & ENTERTAINMENT
IRS990/OtherExpensesGrp/Desc2OFFICE SUPPLIES
IRS990/OtherExpensesGrp/Desc3TELEPHONE-MEETINGS
IRS990/OtherExpensesGrp/TotalAmt012577
IRS990/OtherExpensesGrp/TotalAmt19330
IRS990/OtherExpensesGrp/TotalAmt2655
IRS990/OtherExpensesGrp/TotalAmt3400
IRS990/PartialLiquidationInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0HEPSON UZCAN
IRS990/PriorPeriodAdjustmentsAmt0202000
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc1MEMBERSHIP EVENTS
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0205750
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1134000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0205750
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1134000
IRS990/ProgSrvcAccomActy2Grp/Desc0THROUGH CONFERENCES AND SEMINARS INDIVIDUALS IN THE CLOSED-END FUND INDUUSTRY ARE PROVIDED A FORUM TO COMMUNICATE, ENHANCE BUSINESS RELATIONSHIPS AND INCREASE KNOWLEDGE OF RELEVANT INDUSTRY ISSUES
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt033000
IRS990/PYInvestmentIncomeAmt024
IRS990/PYOtherExpensesAmt0601174
IRS990/PYProgramServiceRevenueAmt0520458
IRS990/PYRevenuesLessExpensesAmt0-47692
IRS990/PYTotalExpensesAmt0601174
IRS990/PYTotalRevenueAmt0553482
IRS990/ReconcilationRevenueExpnssAmt0-174471
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt097811
IRS990/SavingsAndTempCashInvstGrp/EOYAmt013682
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/AgreeCarryoverPriorYearInd0false
IRS990ScheduleC/OnlyInHouseLobbyingInd0true
IRS990ScheduleC/SubstantiallyAllDuesNondedInd0false
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0SMITH GROUP INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0MANAGEMENT CO
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0MGMT CO SERVICES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0BRIAN SMITH SERVES AS THE DIRECTOR (A NON VOTING POSITION) OF THE ORGANIZATION. BRIAN SMITH HOLDS AN OWNERSHIP INTEREST IN SMITH GROUP, INC., WHICH PROVIDES MANANGEMENT SERVICES TO THE ORGANIZATION AS AN INDEPENDENT CONTRACTOR. AMOUNTS PAID TO SMITH GROUP, INC. ARE DISCLOSED IN PART VII, SECTION B. THE COMPENSATION FOR BRIAN SMOITH IS PAID BY SMITH GROUP, INC.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION CONTRACTS WITH SMITH GROUP, INC. TO PERFORM MANAGEMENT DUTIES AND DAY TO DAY OPERATIONS OF THE ORGANIZATION. NO EMPLOYEE OF SMITH GROUP, INC. HOLDS VOTING RIGHTS WITH RESPECT TO THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S COMPLETED FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT. THE BOARD OF GOVERNORS IS GIVEN AN OPPORTUNITY TO VIEW THE FORM 990 ALSO. AFTER THE RETURN HAS BEEN REVIEWED BY ALL INTERESTED PARTIES, AND ALL QUESTIONS ANSWERED SATISFACTORILY, THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2NO DOCUMENTS AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MARKETING PROGRAM MANAGEMENT 173,550 0 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0105340
IRS990/TotalAssetsEOYAmt022285
IRS990/TotalAssetsGrp/BOYAmt0105340
IRS990/TotalAssetsGrp/EOYAmt022285
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0514241
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0203658
IRS990/TotalLiabilitiesEOYAmt093074
IRS990/TotalLiabilitiesGrp/BOYAmt0203658
IRS990/TotalLiabilitiesGrp/EOYAmt093074
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-98318
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-70789
IRS990/TotalProgramServiceRevenueAmt0339750
IRS990/TotalRevenueGrp/ExclusionAmt020
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0339750
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0339770
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0105340
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt022285
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-98318
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-70789
IRS990/VotingMembersGoverningBodyCnt018
IRS990/VotingMembersIndependentCnt018
IRS990/WebsiteAddressTxt0WWW.CEFA.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0BRIAN SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08164138900
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-11-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CLOSED END FUND ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0CLOS
ReturnHeader/Filer/EIN0043403082
ReturnHeader/Filer/PhoneNum08164138900
ReturnHeader/Filer/USAddress/AddressLine1Txt02345 GRAND BOULEVARD SUITE 1750
ReturnHeader/Filer/USAddress/CityNm0KANSAS CITY
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MO
ReturnHeader/Filer/USAddress/ZIPCd064108
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId098812637FE93B8B014A0214F1B466AF2310081BA
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId098812637FE93B8B014A0214F1B466AF2310081BA
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0209.99.101.4
ReturnHeader/FilingSecurityInformation/IPDt02018-11-15
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm010:39:07
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263185459
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MCRUER & ASSOCIATES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01251 NW BRIARCLIFF PKWY STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0KANSAS CITY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0641161776
ReturnHeader/PreparerPersonGrp/PhoneNum08167417882
ReturnHeader/PreparerPersonGrp/PreparationDt02018-11-15
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SCOTT MCRUER
ReturnHeader/ReturnTs02018-11-15T10:39:07-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$22,285
Liabilities
$93,074
Net assets
-$70,789
Revenue
$339,770
Expenses
$514,241
Net income
-$174,471
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.24$1.35$1.11$2.18$2.41$0.23
2024Detailed filing. Detailed filing data is available for this year.$0.72$1.60$0.87$2.53$2.80$0.27
2023Detailed filing. Detailed filing data is available for this year.$0.14$0.74$0.60$2.41$2.57$0.16
2022Detailed filing. Detailed filing data is available for this year.$0.31$0.73$0.42$2.06$2.44$0.38
2021Detailed filing. Detailed filing data is available for this year.$0.54$0.58$0.04$2.20$2.58$0.38
2020Detailed filing. Detailed filing data is available for this year.$0.92$0.57$0.35$2.86$2.81$0.05
2019Detailed filing. Detailed filing data is available for this year.$1.04$1.33$0.29$3.51$3.09$0.42
2018Detailed filing. Detailed filing data is available for this year.$0.22$0.93$0.71$3.40$5.14$1.74
2017Detailed filing. Detailed filing data is available for this year.$1.05$2.04$0.98$5.53$6.01$0.48
2016Detailed filing. Detailed filing data is available for this year.$1.23$1.73$0.51$4.31$4.12$0.18
2015Detailed filing. Detailed filing data is available for this year.$0.03$0.00$0.03$3.36$4.43$1.06
2014Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$3.99$3.76$0.23
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.86$0.00$0.86$2.87$2.96$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.95$0.00$0.95$2.13
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.70$1.88$2.12$0.24