Civic Intelligence

Pbs Foundation

990 • Fiscal year 2025 • EIN 20-1476451

Jul 01, 2024 to Jun 30, 2025 • Filed on Dec 19, 2025

1225 S Clark StreetArlington, VA 22202

(703) 739-5051

Siviq Scores

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

Liabilities / Assets

60th percentile

0.29x

Higher debt load relative to assets than 60% of similar nonprofits.

2025 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2025

Liabilities / Revenue

54th percentile

0.38x

Higher debt load relative to revenue than 54% of similar nonprofits.

2025 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2025

Net Margin

80th percentile

28%

Higher net margin than 80% of similar nonprofits.

2025 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2025

Top Officer Pay

99th percentile

$1,602,897

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2025 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2025

Asset Growth

96th percentile

44%

Faster asset growth than 96% of similar nonprofits.

2025 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Revenue Growth

97th percentile

159%

Faster revenue growth than 97% of similar nonprofits.

2025 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2024 to 2025

Assets

Up

$71,260,640

Up $28,042,065 (+65%) from 2023

Net Assets

Up

$50,876,512

Up $22,326,969 (+78%) from 2023

Liabilities

Up

$20,384,128

Up $5,715,096 (+39%) from 2023

Revenue

Up

$53,653,774

Up $35,938,059 (+203%) from 2023

Expenses

Up

$38,828,422

Up $22,886,081 (+144%) from 2023

Net Income

Up

$14,825,352

Up $13,051,978 (+736%) from 2023

Historical Trend

Balance Sheet Trend

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

$80M$60M$40M$20M$0Assets 2010: $3,051,474Liabilities 2010: $1,295,489Net Assets 2010: $1,755,9852010Assets 2011: $2,011,553Liabilities 2011: $455,542Net Assets 2011: $1,556,0112011Assets 2012: $1,300,360Liabilities 2012: $233,813Net Assets 2012: $1,066,5472012Assets 2013: $512,171Liabilities 2013: $222,163Net Assets 2013: $290,0082013Assets 2014: $2,292,429Liabilities 2014: $462,995Net Assets 2014: $1,829,4342014Assets 2015: $7,035,806Liabilities 2015: $203,874Net Assets 2015: $6,831,9322015Assets 2016: $8,235,303Liabilities 2016: $298,047Net Assets 2016: $7,937,2562016Assets 2017: $10,096,537Liabilities 2017: $271,316Net Assets 2017: $9,825,2212017Assets 2018: $14,579,554Liabilities 2018: $1,092,066Net Assets 2018: $13,487,4882018Assets 2019: $18,391,802Liabilities 2019: $3,808,836Net Assets 2019: $14,582,9662019Assets 2020: $17,654,803Liabilities 2020: $2,010,924Net Assets 2020: $15,643,8792020Assets 2021: $38,512,629Liabilities 2021: $14,340,913Net Assets 2021: $24,171,7162021Assets 2022: $37,997,942Liabilities 2022: $13,174,197Net Assets 2022: $24,823,7452022Assets 2023: $43,218,575Liabilities 2023: $14,669,032Net Assets 2023: $28,549,5432023Assets 2025: $71,260,640Liabilities 2025: $20,384,128Net Assets 2025: $50,876,5122025

Highlighted filing

2025

Assets$71,260,640
Liabilities$20,384,128
Net Assets$50,876,512

Operations Trend

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

$60M$40M$20M$0Expenses 2010: $2,517,9962010Expenses 2011: $2,119,8502011Expenses 2012: $2,776,4302012Expenses 2013: $3,031,2692013Revenue 2014: $5,306,049Expenses 2014: $3,762,430Net Income 2014: $1,543,6192014Revenue 2015: $10,309,417Expenses 2015: $5,292,841Net Income 2015: $5,016,5762015Revenue 2016: $5,865,468Expenses 2016: $4,672,991Net Income 2016: $1,192,4772016Revenue 2017: $4,381,879Expenses 2017: $3,178,306Net Income 2017: $1,203,5732017Revenue 2018: $9,281,769Expenses 2018: $4,901,736Net Income 2018: $4,380,0332018Revenue 2019: $10,180,067Expenses 2019: $9,334,792Net Income 2019: $845,2752019Revenue 2020: $10,741,798Expenses 2020: $9,690,669Net Income 2020: $1,051,1292020Revenue 2021: $27,139,690Expenses 2021: $22,272,039Net Income 2021: $4,867,6512021Revenue 2022: $17,786,379Expenses 2022: $11,408,894Net Income 2022: $6,377,4852022Revenue 2023: $17,715,715Expenses 2023: $15,942,341Net Income 2023: $1,773,3742023Revenue 2025: $53,653,774Expenses 2025: $38,828,422Net Income 2025: $14,825,3522025

Highlighted filing

2025

Revenue$53,653,774
Expenses$38,828,422
Net Income$14,825,352
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Dec 19, 2025
Return Version
2024v5.1
Gross Receipts
$65,053,912
Mission and Program Overview

Mission

The foundation enlists philanthropic support of public broadcasting through establishing special initiatives funds and an endowment fund to ensure pbs's continued excellence, and to promote and enhance outstanding public broadcasting programs and services. Working collaboratively and cooperatively with member stations, the foundation endeavors to secure the extraordinary funding necessary to maintain and enhance pbs's commitment to serving the american public.

To enlist philanthropic support of public broadcasting through establishing special initiatives funds to ensure pbs's continued excellence, and to promote and enhance outstanding public broadcasting programs and services. As the supporting arm of pbs, the foundation solicits funds in support of the various programmatic efforts of pbs. A significant portion of this revenue is recorded on the pbs' consolidated financial statements. The foundation raised $9.2 million and $36.1 million, respectively, for the years ended june 30, 2025 and 2024. These funds include contributions recognized in accordance with asc 958-605, not-for-profit entities- revenue recognition, and exchange transactions that are recognized in accordance with fasb asc topic 606, revenue from contracts with customers. Of these raised funds, $6.4 million and $31.6 million were recorded as revenue on pbs' consolidated financial statements, respectively, for the years ended june 30, 2025 and 2024.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$25,155,883$34,317,761▲ $9,161,878
Savings and Temporary Cash Investments$9,640,757$22,202,076▲ $12,561,319
Pledges and Grants Receivable$10,304,283$7,346,943▼ $2,957,340
Cash and Non-Interest-Bearing Accounts$1,193,907$1,286,997▲ $93,090
Land, Buildings, and Equipment, Net$200,068$118,612▼ $81,456
Prepaid Expenses and Deferred Charges$10,499$8,113▼ $2,386
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities$0--
Investments Program Related$0--
Loans From Officers Directors-$0-
Total Assets$49,505,397$71,260,640▲ $21,755,243
Other Assets Total$3,000,000$5,980,138▲ $2,980,138
Liabilities
Grants Payable$11,006,046$15,232,926▲ $4,226,880
Other Liabilities$3,134,161$4,290,127▲ $1,155,966
Accounts Payable and Accrued Expenses$834,197$621,674▼ $212,523
Escrow Account Liability$366,555$239,401▼ $127,154
Total Liabilities$15,340,959$20,384,128▲ $5,043,169
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$26,531,846$42,579,579▲ $16,047,733
Net Assets With Donor Restrictions$7,632,592$8,296,933▲ $664,341
Total Net Assets Fund Balance$34,164,438$50,876,512▲ $16,712,074
Total Liabilities and Net Assets / Fund Balance$49,505,397$71,260,640▲ $21,755,243

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$118,612$125,753$244,365
Other Assets Org$1,635,017--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$25,930,942$4,807,004▲ $3,126,445-$33,598,912
2023$21,143,117$2,756,723▲ $2,284,170-$25,930,942
2022$17,645,281$1,530,325▲ $1,967,511-$21,143,117
2021$20,601,901$694,372▼ $3,418,254-$17,645,281
2020$13,806,063$2,658,464▲ $4,346,326-$20,601,901
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brian J ReddingtonExecutive DirectorFT$346,880$112,785$459,665
Tiajuana GrahamVP, Individual GivingFT$197,659$79,911$277,570
Idalia RamosVP & Deputy Director (thru 06/2024)FT$152,603$124,129$276,732
Carrie C ScottSR.DIR, PRINCIPAL GIFTS (Thru 06/2024)FT$104,337$146,949$251,286
Maureen GriecoSr.dir, Principal GiftsFT$212,656$38,535$251,191
Laura J BrownSr.dir, Principal GiftsFT$189,008$58,464$247,472

Board Members and Trustees

NameTitle
Afsaneh BeschlossDirector, Chair
Mary Gf BittermanDirector, Chair Emerita
Paula A KergerPresident & Director
Fred BerensDirector, Vice Chair
Susan JacobsonDirector, Vice Chair
Allan LandonDirector
Camilla SmithDirector
David R WeaverDirector
Donald a BaerDirector
Laurie S SilversDirector
Lisa ShumateDirector
Maxine ClarkDirector
Roger SantDirector
Ryan NolanDirector
Steve RattnerDirector
Martha DarlingDirector (as of 06/2024)
Peggy HamburgDirector (as of 12/2024)
Sheila JohnsonDirector (thru 03/2025)
Larry IrvingDIRECTOR, ex-officio
Sandra Cordova MicekDIRECTOR, ex-officio (AS OF 06/25)
Katherine LauderdaleChief Legal and Governance Officer
Jonathan BarzilayChief Operating Officer
Jill PatroneCorporate Secretary
Thomas E TardivoTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Heller Consulting IncConsulting10580 N McCarran Blvd Suite 115, Reno, NV 89503$208,251
Birdsall Voss & AssociatesConsulting250 West Coventry Court Suite 300, Milwaukee, WI 53217$136,308
Revenue and Support

Revenue Composition

Contributions and Grants
$51,444,720
Program Service Revenue
$0
Investment Income
$2,209,054
Other Revenue
$0
All Other Contributions
$45,315,253
Change in Net Assets
$14,825,352

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
Yes

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded38$11,075,776Market value
Total Noncash Contributions38$11,075,776-

Audited Revenue Reconciliation

Revenue per Audited Statements
$53,527,632
Revenue Not Reported on Financial Statements
$126,142
Revenue Not Reported on Form 990
$2,791,455
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$56,319,087
Total Revenue per Form 990
$53,653,774
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$34,407,244
Salaries, Compensation, and Employee Benefits$3,394,469
Total Fundraising Expense$2,871,000
Other Expenses$971,210
Professional Fundraising Fees$55,499

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$34,407,244--$34,407,244
Other Salaries and Wages-$493,408$1,900,380$2,393,788
Current Officers, Directors, Trustees, and Key Employees-$219,152$219,152$438,304
Other Employee Benefits-$46,281$171,182$217,463
Payroll Taxes-$41,956$156,974$198,930
Occupancy-$38,193$117,050$155,243
Pension Plan Contributions-$35,539$110,445$145,984
Fees for Service Investment Mgmnt Fees-$126,142-$126,142
Fees for Services Other$0$99,340$0$99,340
Travel-$18,527$74,108$92,635
Depreciation Depletion-$81,455-$81,455
Information Technology-$55,766-$55,766
Fees for Services Professional Fundraising--$55,499$55,499
Office Expenses-$54,763-$54,763
Fees for Services Legal-$43,790-$43,790
Advertising--$43,242$43,242
Fees for Services Accounting-$36,142-$36,142
Conferences and Meetings-$8,065$22,968$31,033
Other Expenses-$969-$969
Interest-$85-$85
All Other Expenses$265,868$-265,868$0$0
Total Functional Expenses$34,673,112$1,284,310$2,871,000$38,828,422

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$39,607,013
Total Expenses per Form 990$38,828,422
Expenses per Audited Statements$38,702,280
Expenses Not Reported on Form 990$904,733
Expenses Not Reported on Financial Statements$126,142
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Public Broadcasting ServiceArlington, VA501(c)(3)PUBLIC BROADCASTING SERVICE: RESTRICTED GRANTS (34,407,244) TO SUPPORT PUBLIC BROADCASTING SERVICE PROGRAMMING.$34,407,244
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$55,499
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
Loans from Officers, Directors, Trustees, and Key Employees-$0-
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal Income Taxes$4,290,127
Refundable Advance-
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 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
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 1A Delegate broad authority to A committee

The pbs foundation board has 20 members, 19 of whom are voting and one of whom is non-voting.

Form 990, Part VI, Line 6 Classes of members or stockholders

Pbs is pbs foundation's sole member (article 2.1 of the pbs foundation bylaws).

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

Per article 3.2 of the pbs foundation bylaws, the chair of the pbs board of directors, the president of pbs, and either a pbs board member or a senior executive of pbs as designated by the pbs board chair and the pbs president, shall serve as ex officio, voting members of the board ("ex-officio directors"). Up to seventeen (17) additional directors may be elected by the member to serve on the board at any given time ("elected directors").

Form 990, Part VI, Line 7B Decisions requiring approval by members or stockholders

Per article 3.3 of the bylaws, pbs's nominating and corporate governance committee must approve all appointments of pbs foundation board members.

Form 990, Part VI, Line 11B Review of form 990 by governing body

The process for reviewing the pbs foundation form 990 prior to filing includes a thorough review by the executive director and certain officers of pbs foundation, including the president, treasurer, and chief legal and governance officer. These officers of the foundation are also members of the senior management team at pbs. In addition, copies of the form are provided to the full board for review prior to filing.

Form 990, Part VI, Line 12C Conflict of interest policy

In accordance with pbs's conflict of interest policy, pbs foundation's executive staff, officers and board members are required to complete a conflict of interest form at the beginning of each fiscal year and are required to update the form as necessary throughout the year. These forms are distributed, collected, reviewed, and retained by pbs foundation's corporate secretary.

Form 990, Part VI, Line 15A Process to establish compensation of top management official

The foundation's parent organization, pbs, executes on an annual basis a process by which it determines the compensation for the foundation's executive director. The foundation's executive director is compensated by the foundation. The president of the foundation and all other officers are compensated solely by the related organization, pbs.

Form 990, Part VI, Line 19 Required documents available to the public

Financial statements and policies governing the pbs foundation are made available upon request in writing.

Filing and Contact Details

Filer

Filer Name
Pbs Foundation
EIN
20-1476451
Phone
7037395051
Address
1225 S Clark Street, Arlington, VA 22202

Signing Officer

Name
Paula Kerger
Title
CEO
Signed
2025-12-19
Discuss with paid preparer
No

Organization Details

Formed
2004
Legal Domicile
Dc
Voting Board Members
15
Independent Board Members
14
Employees
21
Volunteers
19

Preparer

Firm
Bdo USA
Address
8401 GREENSBORO DR STE 800, MCLEAN, VA 22102-3599
Preparer
Todd Teresco
Phone
7038930600
Supplemental Narrative

Financial Statement Notes

Schedule D, Part IV, Line 2B Explanation of escrow agreement

The amount on form 990, part x, line 21 represents the value of charitable gift annuity liabilities. Pbsf has charitable gift annuity arrangements between donors and the organization in which the donors receive a regular payment for life based on the value of assets transferred to the organization. After the donor's death, the assets are retained by the organization. The residuum of the gift shall be used by pbsf as specified by the donors.

Schedule D, Part V, Line 4 Intended uses of endowment funds

The pbs endowment fund consists of individual funds established for a variety of purposes. As required by u.s. Gaap, net assets associated with endowment funds are classified and reported based on the existence or absence of donor-imposed stipulations. The foundation reports those funds in accordance with fasb asc 958, endowments of not-for-profit organizations: net asset classifications of funds subject to an enacted version of the uniform prudent management of institutional funds act (upmifa), and enhanced disclosures for all endowment funds. At june 30, 2025 and 2024, the foundation has endowment funds totaling $33,598,912 and $25,930,942, respectively. Of this balance, funds totaling $5,742,267 were restricted in perpetuity for both years june 30, 2025 and 2024. In addition to the net assets with donor restrictions, the foundation has board designated endowment funds. Donor-restricted endowment funds: the iris and joseph pollock fund: to provide for the broadcast and dissemination of classical music programming. News, journalism, and public affairs fund of the pbs endowment fund: to support news, journalism, and public affairs programming, particularly in the areas of investigative journalism found in programs like pbs newshour and frontline, broadcast by pbs. Board designated fund: pbs endowment fund: to provide a continued source of income for operations, special projects, capital improvements or for emergency needs.

Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote

Under asc 740-10, income taxes, an organization must recognize the tax benefit associated with tax positions taken for tax return purposes when it is more-likely-than-not that the position will be sustained. The foundation does not believe there are any unrecognized tax benefits that should be recorded. For the years ended june 30, 2025 and 2024, there were no interest or penalties recorded or included in the statements of activities. The foundation is still open to examination by taxing authorities from fiscal year 2022 forward.

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IRS990/Form990PartVIISectionAGrp/PersonNm22Jonathan Barzilay
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT & DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR, CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR, VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR, ex-officio
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR (AS OF 06/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR, CHAIR EMERITA
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR (AS OF 12/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR, ex-officio (AS OF 06/25)
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR (THRU 03/2025)
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR, VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt20EXECUTIVE DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21CORPORATE SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt22CHIEF OPERATING OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt23CHIEF LEGAL AND GOVERNANCE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt24TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt25SR.DIR, PRINCIPAL GIFTS (Thru 06/2024)
IRS990/Form990PartVIISectionAGrp/TitleTxt26VP & DEPUTY DIRECTOR (THRU 06/2024)
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IRS990/Form990PartVIISectionAGrp/TitleTxt28SR.DIR, PRINCIPAL GIFTS
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$71.3$20.4$50.9$53.7$38.8$14.8
2023Summary only. Only limited summary data is available for this year.$43.2$14.7$28.5$17.7$15.9$1.77
2022Summary only. Only limited summary data is available for this year.$38.0$13.2$24.8$17.8$11.4$6.38
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$38.5$14.3$24.2$27.1$22.3$4.87
2020Summary only. Only limited summary data is available for this year.$17.7$2.01$15.6$10.7$9.69$1.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$18.4$3.81$14.6$10.2$9.33$0.85
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$14.6$1.09$13.5$9.28$4.90$4.38
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$0.27$9.83$4.38$3.18$1.20
2016Detailed filing. Detailed filing data is available for this year.$8.24$0.30$7.94$5.87$4.67$1.19
2015Detailed filing. Detailed filing data is available for this year.$7.04$0.20$6.83$10.3$5.29$5.02
2014Detailed filing. Detailed filing data is available for this year.$2.29$0.46$1.83$5.31$3.76$1.54
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.51$0.22$0.29$3.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.30$0.23$1.07$2.78
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.01$0.46$1.56$2.12
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.05$1.30$1.76$2.52