Civic Intelligence

Indiana Farm Bureau Inc

EIN 35-0409100 • 501(c)5 • Indianapolis, IN

Profile

Indiana farm bureau, our mission is to protect and enhance the future of agriculture and our communities.

PO Box 1290Indianapolis, IN 46206-1290

www.infarmbureau.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

80th percentile

0.21x

Higher debt load relative to assets than 80% of similar nonprofits.

501(c)5 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

79th percentile

0.41x

Higher debt load relative to revenue than 79% of similar nonprofits.

501(c)5 • $25M-$50M nonprofits • Source year 2024

Net Margin

41st percentile

9.5%

Higher net margin than 41% of similar nonprofits.

501(c)5 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

82nd percentile

$408,393

Higher top officer pay than 82% of similar nonprofits.

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

501(c)5 • $25M-$50M nonprofits • Source year 2024

Asset Growth

41st percentile

5.7%

Faster asset growth than 41% of similar nonprofits.

501(c)5 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

71st percentile

12%

Faster revenue growth than 71% of similar nonprofits.

501(c)5 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$25,877,309

Up $1,386,276 (+5.7%) from 2023

Liabilities

Up

$5,531,302

Up $152,302 (+2.8%) from 2023

Net Assets

Up

$20,346,007

Up $1,233,974 (+6.5%) from 2023

Revenue

Up

$13,437,290

Up $1,457,200 (+12%) from 2023

Expenses

Up

$12,154,899

Up $55,956 (+0.5%) from 2023

Net Income

Up

$1,282,391

Up $1,401,244 (+1179%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$30M$20M$10M$0Assets 2010: $18,814,970Liabilities 2010: $5,399,816Net Assets 2010: $13,415,1542010Assets 2011: $19,706,518Liabilities 2011: $5,865,763Net Assets 2011: $13,840,7552011Assets 2012: $19,955,274Liabilities 2012: $5,781,976Net Assets 2012: $14,173,2982012Assets 2013: $20,124,648Liabilities 2013: $5,949,291Net Assets 2013: $14,175,3572013Assets 2014: $19,281,479Liabilities 2014: $5,181,958Net Assets 2014: $14,099,5212014Assets 2015: $19,121,487Liabilities 2015: $4,922,643Net Assets 2015: $14,198,8442015Assets 2016: $19,522,489Liabilities 2016: $5,149,717Net Assets 2016: $14,372,7722016Assets 2017: $19,848,903Liabilities 2017: $4,538,848Net Assets 2017: $15,310,0552017Assets 2018: $20,912,558Liabilities 2018: $4,526,600Net Assets 2018: $16,385,9582018Assets 2019: $21,769,886Liabilities 2019: $4,980,794Net Assets 2019: $16,789,0922019Assets 2020: $22,690,251Liabilities 2020: $4,762,246Net Assets 2020: $17,928,0052020Assets 2021: $23,470,420Liabilities 2021: $4,739,156Net Assets 2021: $18,731,2642021Assets 2022: $23,959,518Liabilities 2022: $4,941,165Net Assets 2022: $19,018,3532022Assets 2023: $24,491,033Liabilities 2023: $5,379,000Net Assets 2023: $19,112,0332023Assets 2024: $25,877,309Liabilities 2024: $5,531,302Net Assets 2024: $20,346,0072024

Highlighted filing

2024

Assets$25,877,309
Liabilities$5,531,302
Net Assets$20,346,007

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $8,829,1252010Expenses 2011: $9,256,0512011Expenses 2012: $9,310,4072012Revenue 2013: $9,376,069Expenses 2013: $9,384,699Net Income 2013: -$8,6302013Revenue 2014: $9,637,441Expenses 2014: $9,712,842Net Income 2014: -$75,4012014Revenue 2015: $10,534,434Expenses 2015: $10,427,145Net Income 2015: $107,2892015Revenue 2016: $10,626,065Expenses 2016: $10,454,205Net Income 2016: $171,8602016Revenue 2017: $10,871,798Expenses 2017: $9,936,243Net Income 2017: $935,5552017Revenue 2018: $11,125,109Expenses 2018: $10,031,004Net Income 2018: $1,094,1052018Revenue 2019: $10,990,857Expenses 2019: $10,610,530Net Income 2019: $380,3272019Revenue 2020: $11,074,675Expenses 2020: $9,930,215Net Income 2020: $1,144,4602020Revenue 2021: $11,059,956Expenses 2021: $10,185,159Net Income 2021: $874,7972021Revenue 2022: $11,731,618Expenses 2022: $11,111,640Net Income 2022: $619,9782022Revenue 2023: $11,980,090Expenses 2023: $12,098,943Net Income 2023: -$118,8532023Revenue 2024: $13,437,290Expenses 2024: $12,154,899Net Income 2024: $1,282,3912024

Highlighted filing

2024

Revenue$13,437,290
Expenses$12,154,899
Net Income$1,282,391

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$25.9$5.53$20.3$13.4$12.2$1.28
2023Detailed filing. Detailed filing data is available for this year.$24.5$5.38$19.1$12.0$12.1$0.12
2022Detailed filing. Detailed filing data is available for this year.$24.0$4.94$19.0$11.7$11.1$0.62
2021Detailed filing. Detailed filing data is available for this year.$23.5$4.74$18.7$11.1$10.2$0.87
2020Detailed filing. Detailed filing data is available for this year.$22.7$4.76$17.9$11.1$9.93$1.14
2019Detailed filing. Detailed filing data is available for this year.$21.8$4.98$16.8$11.0$10.6$0.38
2018Detailed filing. Detailed filing data is available for this year.$20.9$4.53$16.4$11.1$10.0$1.09
2017Detailed filing. Detailed filing data is available for this year.$19.8$4.54$15.3$10.9$9.94$0.94
2016Detailed filing. Detailed filing data is available for this year.$19.5$5.15$14.4$10.6$10.5$0.17
2015Detailed filing. Detailed filing data is available for this year.$19.1$4.92$14.2$10.5$10.4$0.11
2014Detailed filing. Detailed filing data is available for this year.$19.3$5.18$14.1$9.64$9.71$0.08
2013Detailed filing. Detailed filing data is available for this year.$20.1$5.95$14.2$9.38$9.38$0.01
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.0$5.78$14.2$9.31
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$19.7$5.87$13.8$9.26
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$18.8$5.40$13.4$8.83
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Aug 18, 2025
Return Version
2024v5.2
Gross Receipts
$19,448,025
Mission and Program Overview

Mission

Indiana farm bureau promotes agriculture through public education, member engagement, and by advocating for agricultural and rural needs.

Indiana farm bureau, our mission is to protect and enhance the future of agriculture and our communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$10,945,208$12,287,681▲ $1,342,473
Cash and Non-Interest-Bearing Accounts$5,441,151$6,474,707▲ $1,033,556
Savings and Temporary Cash Investments$3,540,261$2,740,000▼ $800,261
Investments Other Securities$2,504,000$2,504,000→ $0
Land, Buildings, and Equipment, Net$1,467,176$1,203,382▼ $263,794
Prepaid Expenses and Deferred Charges$148,765$178,750▲ $29,985
Other Notes and Loans Receivable, Net$200,000$175,000▼ $25,000
Accounts Receivable$93,360$99,194▲ $5,834
Inventories for Sale or Use$27,563$20,832▼ $6,731
Total Assets$24,491,033$25,877,309▲ $1,386,276
Other Assets Total$123,549$193,763▲ $70,214
Liabilities
Deferred Revenue$2,805,423$3,107,782▲ $302,359
Accounts Payable and Accrued Expenses$2,556,600$2,410,453▼ $146,147
Other Liabilities$16,977$13,067▼ $3,910
Total Liabilities$5,379,000$5,531,302▲ $152,302
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$19,099,558$20,344,668▲ $1,245,110
Net Assets With Donor Restrictions$12,475$1,339▼ $11,136
Total Net Assets Fund Balance$19,112,033$20,346,007▲ $1,233,974
Total Liabilities and Net Assets / Fund Balance$24,491,033$25,877,309▲ $1,386,276

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$788,227$1,800,530$2,588,757
Leasehold Improvements$415,155$83,030$498,185
Other Securities$100,000--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark SiglerSecretary / TreasurerFT$259,112$121,213$380,325
Megan RitterExecutive Director of AdmiFT$175,070$55,424$230,494
Mark ThornburgExecutive Director, LegalFT$149,452$79,537$228,989
Katrina HallSenior Director Policy StrFT$165,882$55,442$221,324
Randall TauerExecutive Director, PublicFT$146,987$48,960$195,947
Randall KronPresidentFT$119,433$76,205$195,638
Elaine RueffAssistant TreasurerFT$112,214$54,370$166,584
Laura RuhlmanExecutive Director, MarketFT$131,557$11,681$143,238
Robin HeldmanAssistant SecretaryFT$87,111$39,786$126,897
Kendell CulpDirector, Vice PresidentPT$77,935$7,726$85,661
Kevin OusleyDirectorPT$13,200$20,447$33,647
Terry HayhurstDirectorPT$13,575$12,000$25,575
Kevin UnderwoodDirector (term Ended 12/14)PT$13,850$11,500$25,350
Bruce GuernseyDirectorPT$13,200$12,000$25,200
Bruce HerrDirectorPT$13,200$12,000$25,200
Jon SparksDirectorPT$13,200$12,000$25,200
Kermit ParisDirectorPT$13,200$12,000$25,200
Mark SeibDirectorPT$13,200$12,000$25,200
Robert GesweinDirectorPT$13,200$12,000$25,200
Harold ParkerDirector (term Ended 12/14)PT$13,550$11,500$25,050
Corina BrantDirector (term Begins 12/14)PT$550$500$1,050
Matthew HaydenDirector (term Begins 12/14)PT$550$500$1,050

Board Members and Trustees

NameTitle
Janis HighleyDirector, 2nd Vice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$5,796,393
Program Service Revenue
$535,748
Investment Income
$2,624,474
Other Revenue
$4,480,675
All Other Contributions
$580,000
Change in Net Assets
$1,282,391

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,429,350
Revenue Not Reported on Financial Statements
$7,940
Revenue Not Reported on Form 990
$-64,079
Total Revenue per Audited Statements
$13,365,271
Total Revenue per Form 990
$13,437,290
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,797,800
Other Expenses$5,071,857
Grants and Similar Amounts Paid$285,242
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$4,271,457
Current Officers, Directors, Trustees, and Key Employees---$1,109,020
All Other Expenses---$728,194
Conferences and Meetings---$648,222
Travel---$606,186
Other Employee Benefits---$586,894
Pension Plan Contributions---$458,720
Depreciation Depletion---$445,027
Payroll Taxes---$371,709
Occupancy---$307,778
Grants to Domestic Orgs---$285,242
Fees for Services Other---$239,298
Information Technology---$236,131
Other Expenses---$212,113
Advertising---$180,213
Office Expenses---$144,535
Fees for Services Accounting---$32,090
Fees for Services Legal---$19,415
Insurance---$16,568
Fees for Service Investment Mgmnt Fees---$7,940
Total Functional Expenses$0$0$0$12,154,899

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$12,154,899
Expenses per Audited Statements$12,146,959
Total Expenses per Audited Statements$12,131,297
Expenses Not Reported on Financial Statements$7,940
Expenses Not Reported on Form 990$-15,662
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Indiana Agricultural Law FoundationIndianapolis, IN501(c)(3)Support$55,000
Farm Bureau FoundationIndianapolis, IN501(c)(3)Support$18,800
Indiana Cooperative Development CenterIndianapolis, IN501(c)(3)Support$12,353
Purdue UniversityWest Lafayette, INGovtSupport$11,018
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
Yes
In-house lobbying only
No
Subject to proxy tax
Yes

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$5,769
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Agency Deposits$13,067
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The organization is made up of members.

Form 990, Part VI, Section A, Line 7A

Each member of the ifb board of directors is elected by delegates from the counties they represent in their district. The state is divided into 10 districts and a director is elected from each district. Each county elects their delegates at their annual meeting. The number of delegates they have is based on the number of voting members in their county. The 3 officers on the state board are elected at the state annual meeting by the delegates from all of the counties.

Form 990, Part VI, Section A, Line 7B

The voting members that are elected as delegates vote on the policy positions of the organization annually at a statewide policy meeting. The governing body, which is the board of directors, then has the responsibility to work with ifb management on implementation of the policies and monitor progress.

Form 990, Part VI, Section B, Line 11B

The form 990 is reviewed by management for accuracy. The return is provided to the board of directors after the return is filed.

Form 990, Part VI, Section B, Line 12C

Annually the officers and directors of the corporation are required to sign a statement stating any conflicts of interest they may have. If any conflicts are identified, the director or officer is to recuse himself from voting on any related matter that may occur.

Form 990, Part VI, Section B, Line 15

A compensation committee, consisting of 4 members of the governing body (that are not employees or officers), annually review the salaries of the organization's officers. The review includes comparable data from outside sources.

Form 990, Part VI, Section C, Line 19

Ifb does not make governing documents, conflict of interest policy and financials statements available to the public.

Filing and Contact Details

Filer

Filer Name
Indiana Farm Bureau Inc
EIN
35-0409100
Phone
7655646484
Address
PO BOX 1290, INDIANAPOLIS, IN 46206-1290

Signing Officer

Name
Mark Sigler
Title
Treasurer
Phone
3176927807
Signed
2025-08-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Sigler
Formed
1919
Legal Domicile
In
Voting Board Members
13
Independent Board Members
11
Employees
68
Volunteers
1,146

Preparer

Firm
Blue & Co LLC
Address
12800 N MERIDIAN ST STE 400, CARMEL, IN 46032
Preparer
Angela N Crawford CPA
Phone
3178488920
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A

Member communications my indiana home is a 36-page magazine published quarterly and mailed to the organization's total membership of more than 260,000. Editorial content strives to inform members about the food they eat, the farmers who grow it and indiana's unique rural lifestyle. A digital edition is also available to those members who ask to receive it this way. Its circulation averaged around 1,500 in 2024. The hoosier farmer is a six-page tabloid mailed to nearly 65,000 members 12 times in 2024. This publication is targeted toward members involved in production agriculture or who make their living in agribusiness. A digital edition is mailed out to those members (around 450) have asked to receive it this way. In 2024 we also produced and distributed specialized newsletters to specific groups of infb leaders and voting members. The public policy dispatch, published weekly during the state legislative session and every other week during the rest of the year, is sent via e-mail to over 30,000 people and gives readers a concise summary of legislative activity of interest to farm bureau members and indiana farmers. Another newsletter sent to a specialized audience was fresh picks, which was written for members who produce specialty crops. In 2024, it was emailed to approximately 300 people. The fb feed is an electronic newsletter sent monthly (except for december) to a selection of voting members of indiana farm bureau. Its circulation varies depending on the membership renewal cycle as well has who has indicated that they would like to receive it, but it averages around 11,600. It is intended to supplement our monthly print publication, the hoosier farmer. In addition to timely news items and links to important events and information, each edition features different sections aimed at specific audiences e.g., young farmers and ag professionals, district education & outreach coordinators, membership chairs and policy chairs.

Form 990, Part III, Line 4B

Agriculture promotion and education in 2024, indiana farm bureau education staff developed an educator guide to support the seventh infb book of the year, my family's corn farm by katie olthoff. Additional book of the year materials were available for farm bureau members within our county marketing department; these included a book of the year toolkit, trivia wheel inserts, ten-steps to follow for a book donation projects, along with templates for farm bureau members to use while promoting the book. Indiana agricultural literacy week continued in 2024. A weekly guide was created to help our county volunteers to identify the purpose and goals of highlighting an agricultural literacy week within their county programming. The guide also provided a weekly plan to help volunteers identify activities and resources available. Two summer workshops were organized by the indiana farm bureau education staff. These workshops targeted agriculture in the classroom volunteers and k-12 teachers. The workshops highlighted the 2024 book of the year. These three workshops were held at two different locations around the state: biotown ag in reynolds, in and the vincennes university jasper campus in jasper, in. Our total attendance of 70. We also offered a virtual ag in the classroom workshop in july. Agriculture in the classroom welcomed over 500 ag teachers and facs educators back to school in august with a classroom resource gift of an indiana ag commodities state map poster, indiana ag mag and a pen. Indiana farm bureau continued its educational impact through junior achievement job spark event. The event was held in the fall creek pavilion at the indiana state fair grounds impacting 13,000 students. Indiana farm bureau provided an agricultural careers exploration activity. In conclusion, the indiana farm bureau agriculture in the classroom reached over 58,000 students with the help of 115 indiana farm bureau volunteers throughout 2025. We were able to engage with 189 teachers through face-to-face professional development which will generate a student impact of 9,500 students.

Form 990, Part III, Line 4C

Member education and leadership development in 2024, infb shared information with our members to support their needs in energy, rural viability, water rights and taxation. We supported our members in building relationships with elected officials in an in-person format as well as through virtual events. We continued leadership development programming for our leadership and members and also continued our educational programming by offering sessions on agricultural drainage, understanding contracts and leases, farm succession and estate planning, in addition to diversification, sustainability and marketing to name a few. Infb continued a program to assist farmers with addressing damages to livestock from black vultures through issuing deprivation permits. We also delivered professional development and outreach opportunities that allowed our members to engage in their communities. Volunteers delivered agriculture lessons in-person and virtually to k-12 students, built relationships with local stakeholders and elected officials, provided marketing support for county led programs and initiatives and awarded scholarships to college students. We also highlighted the outstanding work of our young farmers and ag professionals through a competitive awards program. Indiana farm bureau members, including young farmers & ag professionals were able to participate in advocacy efforts at the indiana statehouse. These members had the opportunity to learn about the importance of advocacy on the local, state and federal levels as well as receive leadership development training to enhance their communication skills when communicating with legislators and other key figures within their community. Members participated in leadership training seminars, educational workshops and other special programing. Also continuing in 2024 was training for volunteers and educators involved in infb's ag in the classroom program. Two conferences for farm bureau members and associated groups and individuals were held in 2024. The indiana farm bureau state convention held in 2024 offered educational sessions including ai, technology and the future of farming, tech talks, foreign investment and technology threats, managing strategic risk, planning for the electric grid of the future, growing a business, and farm emergency preparedness. The young farmers & ag professionals conference included sessions such as transitioning the family farm, partnering with your veterinarian, innovation in agriculture, today's ag outlook, niche marketing, financing, advocating vs arguing and four power hour sessions.

Form 990, Part IV, Line 12

Indiana farm bureau, inc. Received audited financial statements prepared on the accounting basis used for federal income tax purposes, which is a comprehensive basis of accounting other than accounting principles generally accepted in the united states of america.

FORM 990, PART XII, LINE 2C:

The organization has an audit committee that assumes responsibility for the oversight of the audit and the selection of an independant accountant. This process has not changed from prior years.

Financial Statement Notes

PART X, LINE 2:

The organization is a tax-exempt agricultural organization that is exempt from income taxes under section 501(c)(5) of the united states internal revenue code and similar state law. The exemption is on all income except unrelated business income. An unrelated trade or business of an exempt organization is any trade or business which is not substantially related to the exercise or performance of its exempt purpose. The fee income from certain affiliates, as well as certain other income, is considered unrelated business income. Management is required to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the organization, and has concluded that as of december 31, 2024 and 2023, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The organization has filed its federal and state income tax returns for periods through december 31, 2023. These income tax returns are generally open to examination by the relevant taxing authorities for a period of three years from the later of the date the return was filed or its due date (including approved extensions). For 2024 and 2023, the organization's income tax expense was $120,666 and $112,812; respectively.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 27,454. Gain on disposal of assets other than inventory -43,116.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold 27,454. Gain on disposal of assets other than inventory -43,116.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR, VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR, 2ND VICE PRESIDE
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt17ASSISTANT TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt18EXECUTIVE DIRECTOR, MARKET
IRS990/Form990PartVIISectionAGrp/TitleTxt19SENIOR DIRECTOR POLICY STR
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IRS990/Form990PartVIISectionAGrp/TitleTxt21EXECUTIVE DIRECTOR OF ADMI
IRS990/Form990PartVIISectionAGrp/TitleTxt22EXECUTIVE DIRECTOR, PUBLIC
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