Civic Intelligence

Arc Finance Ltd

990 • Fiscal year 2014 • EIN 26-2522724

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 13, 2015

70 Overlook RoadHastings On Hudson, NY 10706

(914) 478-3851

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.14x

Higher debt load relative to assets than 53% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

24th percentile

0.02x

Higher debt load relative to revenue than 24% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

24th percentile

-7.1%

Higher net margin than 24% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

87th percentile

$174,900

Higher top officer pay than 87% of similar nonprofits.

Top officer pay equals 11.8% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

3rd percentile

-34%

Faster asset growth than 3% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

33rd percentile

-2.1%

Faster revenue growth than 33% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Assets

Down

$192,194

Down $99,092 (-34%) from 2013

Net Assets

Down

$166,088

Down $104,618 (-39%) from 2013

Liabilities

Up

$26,106

Up $5,526 (+27%) from 2013

Revenue

Down

$1,478,182

Down $32,056 (-2.1%) from 2013

Expenses

Up

$1,582,800

Up $63,812 (+4.2%) from 2013

Net Income

Down

-$104,618

Down $95,868 (-1096%) from 2013

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2012: $349,809Liabilities 2012: $70,352Net Assets 2012: $279,4572012Assets 2013: $291,286Liabilities 2013: $20,580Net Assets 2013: $270,7062013Assets 2014: $192,194Liabilities 2014: $26,106Net Assets 2014: $166,0882014Assets 2015: $342,168Liabilities 2015: $100,930Net Assets 2015: $241,2382015Assets 2016: $499,902Liabilities 2016: $225,037Net Assets 2016: $274,8652016Assets 2017: $366,636Liabilities 2017: $217,650Net Assets 2017: $148,9862017Assets 2018: $150,118Liabilities 2018: $13,856Net Assets 2018: $136,2622018

Highlighted filing

2014

Assets$192,194
Liabilities$26,106
Net Assets$166,088

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2012: $1,174,3302012Revenue 2013: $1,510,238Expenses 2013: $1,518,988Net Income 2013: -$8,7502013Revenue 2014: $1,478,182Expenses 2014: $1,582,800Net Income 2014: -$104,6182014Revenue 2015: $1,866,405Expenses 2015: $1,808,499Net Income 2015: $57,9062015Revenue 2016: $1,533,784Expenses 2016: $1,554,274Net Income 2016: -$20,4902016Revenue 2017: $1,398,240Expenses 2017: $1,524,119Net Income 2017: -$125,8792017Revenue 2018: $91,636Expenses 2018: $104,360Net Income 2018: -$12,7242018

Highlighted filing

2014

Revenue$1,478,182
Expenses$1,582,800
Net Income-$104,618
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 13, 2015
Return Version
2014v5.0
Gross Receipts
$1,478,182
Mission and Program Overview

Mission

To promote and expand access to financing modern energy, clean water and other basic needs to build the income and assets of poor people around the world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$136,046$80,246▼ $55,800
Accounts Receivable$115,240$71,948▼ $43,292
Investments Other Securities$40,000$40,000→ $0
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$291,286$192,194▼ $99,092
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$20,580$26,106▲ $5,526
Total Liabilities$20,580$26,106▲ $5,526
Net Assets / Fund Balance
Temporarily Rstr Net Assets$172,190$99,652▼ $72,538
Unrestricted Net Assets$98,516$66,436▼ $32,080
Total Net Assets Fund Balance$270,706$166,088▼ $104,618
Total Liabilities and Net Assets / Fund Balance$291,286$192,194▼ $99,092

Asset Categories

AssetBook ValueDepreciationBasis
Closely Held Equity Interests$40,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Nicola ArmacostManaging DirectorFT$174,900$174,900

Board Members and Trustees

NameTitle
Nancy BarryChair
Ron KastnerTrustee
Bhakti MirchandaniTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,333,171
Program Service Revenue
$145,011
Investment Income
$0
Other Revenue
$0
All Other Contributions
$146,476
Change in Net Assets
$-104,618
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$932,325
Grants and Similar Amounts Paid$336,476
Salaries, Compensation, and Employee Benefits$313,999
Total Fundraising Expense$25,895
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$488,935$116,122$6,112$611,169
Foreign Grants$336,476--$336,476
Current Officers, Directors, Trustees, and Key Employees$157,410$8,745$8,745$174,900
Travel$153,101--$153,101
Other Salaries and Wages$107,830$5,991$5,990$119,811
Conferences and Meetings$64,153--$64,153
Advertising$37,493--$37,493
Fees for Services Accounting-$32,741-$32,741
Payroll Taxes$17,359$965$964$19,288
Occupancy$9,936$2,385$927$13,248
Information Technology$9,113-$3,037$12,150
Insurance-$2,441-$2,441
Office Expenses$1,380$259$86$1,725
Fees for Services Legal-$1,699-$1,699
Other Expenses$552$103$34$689
Total Functional Expenses$1,383,738$173,167$25,895$1,582,800
International Activity

International Summary

Spending
$336,476

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
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
South AsiaGrants to RecipientsEnergy Solutions00$261,476
Sub-sahara AfricaGrants to RecipientsEnergy Solutions00$50,000
Central America and CaribbeanGrants to RecipientsEnergy Solutions00$25,000
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

The managing director and board members review the form 990 prior to filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

In connection with any actual or possible conflict of interest, an interested person must disclose the existence and nature of his or her financial interest to the board of directors. After disclosure, the interested person shall leave the board meeting while the transaction is discussed and voted upon. Each interested person shall annually sign a statement that affirms that such person has received a copy of the conflict of interest policy., has read and inderstands the policy, has agreed to comply with the policy, and understands that the organization is a charitable organization and that in order to maintain its federal tax exemption it must engage primarily in activities that accomplish one or more of its tax-exempt purposes.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Compensation process for top official compensation for the managing director is determined by independent board members based on reviews of comparable compensation data. The managing director determines the salaries of staff and consultants.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

The organization's governing documents are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Arc Finance Ltd
EIN
26-2522724
Phone
9144783851
Address
70 OVERLOOK ROAD, HASTINGS ON HUDSON, NY 10706

Signing Officer

Name
Nicola Armacost
Title
Managing Director
Signed
2015-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nicola Armacost
Formed
2008
Legal Domicile
Ny
Voting Board Members
4
Independent Board Members
3
Employees
2

Preparer

Firm
Cullari Carrico LLC
Address
55 Lane Road Ste 300, Fairfield, NJ 07004
Preparer
John Carrico Jr
Phone
9734063955
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0938224
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0368061
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0427034
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt04564498
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0145011
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt012230
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0238057
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0296967
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0220816
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt0913081
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct01.00000
IRS990ScheduleA/PublicSupportTotal509Amt05477579
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt01478182
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt01510238
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt01176281
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0665028
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0647850
IRS990ScheduleA/Total509Grp/TotalAmt05477579
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt01478182
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt01510238
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt01176281
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0665028
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0647850
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt05477579
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/BookValueAmt040000
IRS990ScheduleD/CloselyHeldEquityInterestsGrp/MethodValuationCd0F
IRS990ScheduleD/TotalBookValueSecuritiesAmt040000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt20
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt10
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt20
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt025000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt1261476
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt250000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0CENTRAL AMERICA AND CARIBBEAN
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1SOUTH ASIA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2SUB-SAHARA AFRICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0ENERGY SOLUTIONS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1ENERGY SOLUTIONS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt2ENERGY SOLUTIONS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0GRANTS TO RECIPIENTS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1GRANTS TO RECIPIENTS
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2GRANTS TO RECIPIENTS
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0336476
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0EFT
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0SUPPORT NEEDY
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false
IRS990ScheduleF/SubtotalSpentAmt0336476
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION RECEIVES MONTHLY, QUARTERLY, AND ANNUAL REPORTS FROM GRANTEES AND THE TEAM OF CONSULTANTS CONDUCTS VISITS TO THE INSTITUTIONS AND TO ITS CLIENTS TO MAKE SURE THE PROJECT IS PROGRESSING AS PLANNED.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1ACCRUAL METHOD WAS USED TO ACCOUNT FOR THE EXPENDITURES IN PART I, LINE 3, COLUMN (F).
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2 - Grantmakers Explanation For Monitoring Use of Funds Outside US
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1Part I, Line 3f - Method of Accounting
IRS990ScheduleF/Total501c3OrgCnt03
IRS990ScheduleF/TotalOtherOrgCnt04
IRS990ScheduleF/TotalSpentAmt0336476
IRS990ScheduleF/TransferToForeignCorpInd0true
IRS990ScheduleJ/AnyNonFixedPaymentsInd0false
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990ScheduleJ/RebuttablePresumptionProcInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0174900
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0NICOLA ARMACOST
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0MANAGING DIR
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0174900
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE MANAGING DIRECTOR'S SALARY AMOUNT INCLUDES REIMBURSEMENTS FOR MEDICAL BENEFITS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0Part III, Additional Information
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MANAGING DIRECTOR AND BOARD MEMBERS REVIEW THE FORM 990 PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE AND NATURE OF HIS OR HER FINANCIAL INTEREST TO THE BOARD OF DIRECTORS. AFTER DISCLOSURE, THE INTERESTED PERSON SHALL LEAVE THE BOARD MEETING WHILE THE TRANSACTION IS DISCUSSED AND VOTED UPON. EACH INTERESTED PERSON SHALL ANNUALLY SIGN A STATEMENT THAT AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY., HAS READ AND INDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THAT THE ORGANIZATION IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPENSATION PROCESS FOR TOP OFFICIAL COMPENSATION FOR THE MANAGING DIRECTOR IS DETERMINED BY INDEPENDENT BOARD MEMBERS BASED ON REVIEWS OF COMPARABLE COMPENSATION DATA. THE MANAGING DIRECTOR DETERMINES THE SALARIES OF STAFF AND CONSULTANTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15a: Compensation Review & Approval Process - CEO, Top Management
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NY
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt0172190
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt099652
IRS990/TempOrPermanentEndowmentsInd0false

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