Civic Intelligence

Sustainable Seattle

990 • Fiscal year 2023 • EIN 31-1580932

Jan 01, 2023 to Dec 31, 2023 • Filed on Sep 14, 2024

7511 Greenwood Ave N 121Seattle, WA 98103

(206) 622-3522

Siviq Scores

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

Liabilities / Assets

55th percentile

0.09x

Higher debt load relative to assets than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

56th percentile

0.12x

Higher debt load relative to revenue than 56% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

56th percentile

6.8%

Higher net margin than 56% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

50th percentile

$61,000

Higher top officer pay than 50% of similar nonprofits.

Top officer pay equals 3.2% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

99th percentile

448%

Faster asset growth than 99% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

81st percentile

44%

Faster revenue growth than 81% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Up

$2,474,329

Up $2,022,476 (+448%) from 2022

Net Assets

Up

$2,239,997

Up $1,858,883 (+488%) from 2022

Liabilities

Up

$234,332

Up $163,593 (+231%) from 2022

Revenue

Up

$1,898,365

Up $575,595 (+44%) from 2022

Expenses

Up

$1,768,907

Up $484,026 (+38%) from 2022

Net Income

Up

$129,458

Up $91,569 (+242%) from 2022

Historical Trend

Balance Sheet Trend

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

$3.0M$2.0M$1.0M$0Assets 2011: $64,986Liabilities 2011: $5,051Net Assets 2011: $59,9352011Assets 2012: $98,767Liabilities 2012: $3,599Net Assets 2012: $95,1682012Assets 2016: $78,554Liabilities 2016: $1,447Net Assets 2016: $77,1072016Assets 2017: $423,267Liabilities 2017: $4,239Net Assets 2017: $419,0282017Assets 2018: $351,363Liabilities 2018: $6,391Net Assets 2018: $344,9722018Assets 2019: $252,519Liabilities 2019: $2,584Net Assets 2019: $249,9352019Assets 2020: $202,463Liabilities 2020: $50Net Assets 2020: $202,4132020Assets 2021: $461,204Liabilities 2021: $571Net Assets 2021: $460,6332021Assets 2022: $451,853Liabilities 2022: $70,739Net Assets 2022: $381,1142022Assets 2023: $2,474,329Liabilities 2023: $234,332Net Assets 2023: $2,239,9972023Assets 2024: $1,951,016Liabilities 2024: $201,578Net Assets 2024: $1,749,4382024

Highlighted filing

2023

Assets$2,474,329
Liabilities$234,332
Net Assets$2,239,997

Operations Trend

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

$2.0M$1.0M$0-$1.0MRevenue 2011: $174,770Expenses 2011: $149,452Net Income 2011: $25,3182011Expenses 2012: $227,1022012Revenue 2016: $212,517Expenses 2016: $184,979Net Income 2016: $27,5382016Revenue 2017: $672,894Expenses 2017: $330,973Net Income 2017: $341,9212017Revenue 2018: $303,201Expenses 2018: $377,257Net Income 2018: -$74,0562018Revenue 2019: $276,959Expenses 2019: $371,996Net Income 2019: -$95,0372019Revenue 2020: $413,945Expenses 2020: $462,907Net Income 2020: -$48,9622020Revenue 2021: $1,777,014Expenses 2021: $1,518,845Net Income 2021: $258,1692021Revenue 2022: $1,322,770Expenses 2022: $1,284,881Net Income 2022: $37,8892022Revenue 2023: $1,898,365Expenses 2023: $1,768,907Net Income 2023: $129,4582023Revenue 2024: $1,445,730Expenses 2024: $1,935,634Net Income 2024: -$489,9042024

Highlighted filing

2023

Revenue$1,898,365
Expenses$1,768,907
Net Income$129,458
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Sep 14, 2024
Return Version
2023v5.0
Gross Receipts
$1,898,365
Mission and Program Overview

Mission

To promote sustainable development in the seattle area

Sustainable seattle works to build a thriving future through initiatives that deliver environmental, economic and community benefits, promote equity, and build resilience.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$1,991,377-
Cash and Non-Interest-Bearing Accounts$450,808$385,676▼ $65,132
Prepaid Expenses and Deferred Charges$1,045$97,276▲ $96,231
Total Assets$451,853$2,474,329▲ $2,022,476
Liabilities
Deferred Revenue$69,760$144,812▲ $75,052
Accounts Payable and Accrued Expenses$979$89,520▲ $88,541
Total Liabilities$70,739$234,332▲ $163,593
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$381,114$2,239,997▲ $1,858,883
Total Net Assets Fund Balance$381,114$2,239,997▲ $1,858,883
Total Liabilities and Net Assets / Fund Balance$451,853$2,474,329▲ $2,022,476
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Natalie GarciaCo-directorFT$61,000$61,000
Emily PiroCo-directorFT$38,117$38,117

Board Members and Trustees

NameTitle
Austin HongPresident
Eloise Lee HarrisBoard Member
Heather HutchisonBoard Member
Jameson MorrellBoard Member
Jamilah WilliamsBoard Member
Kristine MaramotBoard Member
Melanie MaloneBoard Member
Patricia Allen-dickBoard Member
Sully MorenoBoard Member
Venice WongBoard Member
MEILANI LANIER-KAMAHA'OInterim Ed
Peter Bloch GarciaTreasurer
Jasleena GrewalVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$1,637,508
Program Service Revenue
$260,857
Investment Income
$0
Other Revenue
$0
All Other Contributions
$439,678
Change in Net Assets
$129,458
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,612,154
Salaries, Compensation, and Employee Benefits$156,753
Total Fundraising Expense$70,299
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Management$1,041,949-$463$1,042,412
Current Officers, Directors, Trustees, and Key Employees$59,470$19,823$19,823$99,116
Other Expenses$73,639-$107$73,639
All Other Expenses$60,776$3,076$2,103$65,955
Other Salaries and Wages$21,885$1,765$11,653$35,303
Fees for Services Other$3,761-$20,131$23,892
Travel$19,985--$19,985
Fees for Services Legal$8,618-$10,501$19,119
Fees for Services Accounting$13,858$1,063$636$15,557
Payroll Taxes$8,350$2,458$2,623$13,431
Other Employee Benefits$6,471$1,140$1,292$8,903
Information Technology$3,137--$3,137
Occupancy$560$1,106$560$2,226
Insurance$472$598$396$1,466
Office Expenses$11$11$11$33
Total Functional Expenses$1,667,568$31,040$70,299$1,768,907
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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, Page 6, Part VI, Line 11B

All members of the board of directors are provided the draft of the 990 for review and questions. Afterwards, the board votes to approve the document for submission.

Form 990, Page 6, Part VI, Line 12C

At the annual meeting of it's board of directors, all members are asked to disclose any possible conflicts of interest and documents are retained.

Form 990, Page 6, Part VI, Line 15A

Comparison with similar sized nonprofit organizations in the region using data from an archbright report.

Form 990, Page 6, Part VI, Line 15B

Comparison with similar sized nonprofit organizations in the region using data from an archbright report.

Form 990, Page 6, Part VI, Line 19

UPON REQUEST.

Filing and Contact Details

Filer

Filer Name
Sustainable Seattle
EIN
31-1580932
Phone
2066223522
Address
7511 GREENWOOD AVE N 121, SEATTLE, WA 98103

Signing Officer

Name
MEILANI LANIER-KAMAHA'O
Title
Interim Ed
Phone
2066223522
Signed
2024-09-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Natalie Garcia
Formed
1998
Legal Domicile
Wa
Voting Board Members
14
Independent Board Members
14
Employees
5
Volunteers
1

Preparer

Firm
LOVERIDGE HUNT & CO CPA'S
Address
14725 SE 36TH ST STE 401, BELLEVUE, WA 98006-1682
Preparer
Yuejia Peng
Phone
4254532088
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Change from cash to accrual basis 1,730,044 prior period adj -619 total 1,729,425

Raw XML AppendixShowing 400 of 437 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/OfficeExpensesGrp/TotalAmt033
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherChangesInNetAssetsAmt01729425
IRS990/OtherEmployeeBenefitsGrp/FundraisingAmt01292
IRS990/OtherEmployeeBenefitsGrp/ManagementAndGeneralAmt01140
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt06471
IRS990/OtherEmployeeBenefitsGrp/TotalAmt08903
IRS990/OtherExpensesGrp/Desc0PROGRAM SUPPLIES
IRS990/OtherExpensesGrp/Desc1INTERVIEW
IRS990/OtherExpensesGrp/Desc2BAD DEBT
IRS990/OtherExpensesGrp/Desc3FISCAL SPONSOR PAYMENT
IRS990/OtherExpensesGrp/FundraisingAmt0107
IRS990/OtherExpensesGrp/ProgramServicesAmt0171534
IRS990/OtherExpensesGrp/ProgramServicesAmt188749
IRS990/OtherExpensesGrp/ProgramServicesAmt284343
IRS990/OtherExpensesGrp/ProgramServicesAmt373639
IRS990/OtherExpensesGrp/TotalAmt0171641
IRS990/OtherExpensesGrp/TotalAmt188749
IRS990/OtherExpensesGrp/TotalAmt284343
IRS990/OtherExpensesGrp/TotalAmt373639
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt011653
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt01765
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt021885
IRS990/OtherSalariesAndWagesGrp/TotalAmt035303
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/FundraisingAmt02623
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt02458
IRS990/PayrollTaxesGrp/ProgramServicesAmt08350
IRS990/PayrollTaxesGrp/TotalAmt013431
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt01045
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt097276
IRS990/PrincipalOfficerNm0NATALIE GARCIA
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PROGRAM SERVICE REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0260857
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0260857
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01101400
IRS990/PYExcessBenefitTransInd0false
IRS990/PYOtherExpensesAmt01065195
IRS990/PYProgramServiceRevenueAmt0221370
IRS990/PYRevenuesLessExpensesAmt037889
IRS990/PYSalariesCompEmpBnftPaidAmt0192240
IRS990/PYTotalExpensesAmt01284881
IRS990/PYTotalProfFndrsngExpnsAmt027446
IRS990/PYTotalRevenueAmt01322770
IRS990/ReconcilationRevenueExpnssAmt0129458
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0260857
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PROGRAM REVENUE 1,011,083
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt01637508
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0392527
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0863321
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0277244
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0203669
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03374269
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0260857
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt0260857
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt0221370
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt0357502
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt0118483
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt052871
IRS990ScheduleA/OtherIncome170Grp/TotalAmt01011083
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.76940
IRS990ScheduleA/PublicSupportPY170Pct00.72670
IRS990ScheduleA/PublicSupportTotal170Amt03374269
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt01637508
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0392527
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0863321
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0277244
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0203669
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03374269
IRS990ScheduleA/TotalSupportAmt04385352
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
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ALL MEMBERS OF THE BOARD OF DIRECTORS ARE PROVIDED THE DRAFT OF THE 990 FOR REVIEW AND QUESTIONS. AFTERWARDS, THE BOARD VOTES TO APPROVE THE DOCUMENT FOR SUBMISSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1AT THE ANNUAL MEETING OF IT'S BOARD OF DIRECTORS, ALL MEMBERS ARE ASKED TO DISCLOSE ANY POSSIBLE CONFLICTS OF INTEREST AND DOCUMENTS ARE RETAINED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COMPARISON WITH SIMILAR SIZED NONPROFIT ORGANIZATIONS IN THE REGION USING DATA FROM AN ARCHBRIGHT REPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COMPARISON WITH SIMILAR SIZED NONPROFIT ORGANIZATIONS IN THE REGION USING DATA FROM AN ARCHBRIGHT REPORT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CHANGE FROM CASH TO ACCRUAL BASIS 1,730,044 PRIOR PERIOD ADJ -619 TOTAL 1,729,425
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0WA
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0451853
IRS990/TotalAssetsEOYAmt02474329
IRS990/TotalAssetsGrp/BOYAmt0451853
IRS990/TotalAssetsGrp/EOYAmt02474329
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt01637508
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt070299
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt031040
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01667568
IRS990/TotalFunctionalExpensesGrp/TotalAmt01768907
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt070739
IRS990/TotalLiabilitiesEOYAmt0234332
IRS990/TotalLiabilitiesGrp/BOYAmt070739
IRS990/TotalLiabilitiesGrp/EOYAmt0234332
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0381114
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02239997
IRS990/TotalProgramServiceExpensesAmt01667568
IRS990/TotalProgramServiceRevenueAmt0260857
IRS990/TotalReportableCompFromOrgAmt099117
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0260857
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01898365
IRS990/TotalVolunteersCnt01
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0451853
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02474329
IRS990/TravelGrp/ProgramServicesAmt019985
IRS990/TravelGrp/TotalAmt019985
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt07511 GREENWOOD AVE N SUITE 121

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.95$0.20$1.75$1.45$1.94$0.49
2023Detailed filing. Detailed filing data is available for this year.$2.47$0.23$2.24$1.90$1.77$0.13
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.45$0.07$0.38$1.32$1.28$0.04
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.46$0.00$0.46$1.78$1.52$0.26
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.20$0.00$0.20$0.41$0.46$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.25$0.00$0.25$0.28$0.37$0.10
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.35$0.01$0.34$0.30$0.38$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.42$0.00$0.42$0.67$0.33$0.34
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.08$0.00$0.08$0.21$0.18$0.03
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.10$0.00$0.10$0.23
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.06$0.01$0.06$0.17$0.15$0.03