Civic Intelligence

Beechwood Educational Foundation Inc.

990 • Fiscal year 2020 • EIN 35-1521887

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 15, 2021

95 Wellington RoadIndianapolis, IN 46260

(317) 383-4000

Siviq Scores

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

Liabilities / Assets

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

15th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

76th percentile

23%

Higher net margin than 76% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

37th percentile

$0

Higher top officer pay than 37% of similar nonprofits.

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

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

65th percentile

14%

Faster asset growth than 65% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

30th percentile

-12%

Faster revenue growth than 30% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$1,173,173

Up $140,686 (+14%) from 2019

Net Assets

Up

$1,173,173

Up $140,686 (+14%) from 2019

Liabilities

Flat

$0

Flat from 2019

Revenue

Down

$135,701

Down $18,794 (-12%) from 2019

Expenses

Down

$104,902

Down $475,194 (-82%) from 2019

Net Income

Up

$30,799

Up $456,400 (+107%) from 2019

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $875,656Liabilities 2010: $0Net Assets 2010: $875,6562010Assets 2011: $804,639Liabilities 2011: $0Net Assets 2011: $804,6392011Assets 2012: $722,905Liabilities 2012: $0Net Assets 2012: $722,9052012Assets 2013: $897,371Liabilities 2013: $0Net Assets 2013: $897,3712013Assets 2014: $1,301,892Liabilities 2014: $0Net Assets 2014: $1,301,8922014Assets 2015: $3,931,742Liabilities 2015: $0Net Assets 2015: $3,931,7422015Assets 2016: $1,091,008Liabilities 2016: $0Net Assets 2016: $1,091,0082016Assets 2017: $1,109,381Liabilities 2017: $0Net Assets 2017: $1,109,3812017Assets 2018: $1,373,552Liabilities 2018: $0Net Assets 2018: $1,373,5522018Assets 2019: $1,032,487Liabilities 2019: $0Net Assets 2019: $1,032,4872019Assets 2020: $1,173,173Liabilities 2020: $0Net Assets 2020: $1,173,1732020Assets 2021: $1,337,134Liabilities 2021: $0Net Assets 2021: $1,337,1342021Assets 2022: $1,272,528Liabilities 2022: $0Net Assets 2022: $1,272,5282022Assets 2023: $1,307,845Liabilities 2023: $0Net Assets 2023: $1,307,8452023Assets 2024: $1,455,672Liabilities 2024: $0Net Assets 2024: $1,455,6722024

Highlighted filing

2020

Assets$1,173,173
Liabilities$0
Net Assets$1,173,173

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0M-$4.0MExpenses 2010: $16,6662010Expenses 2011: $48,1872011Expenses 2012: $53,2722012Revenue 2013: $270,655Expenses 2013: $35,919Net Income 2013: $234,7362013Revenue 2014: $574,246Expenses 2014: $50,875Net Income 2014: $523,3712014Revenue 2015: $2,743,787Expenses 2015: $21,412Net Income 2015: $2,722,3752015Revenue 2016: $1,457,049Expenses 2016: $4,219,632Net Income 2016: -$2,762,5832016Revenue 2017: $459,561Expenses 2017: $468,771Net Income 2017: -$9,2102017Revenue 2018: $246,648Expenses 2018: $29,489Net Income 2018: $217,1592018Revenue 2019: $154,495Expenses 2019: $580,096Net Income 2019: -$425,6012019Revenue 2020: $135,701Expenses 2020: $104,902Net Income 2020: $30,7992020Revenue 2021: $142,980Expenses 2021: $15,329Net Income 2021: $127,6512021Revenue 2022: $206,590Expenses 2022: $24,625Net Income 2022: $181,9652022Revenue 2023: $94,569Expenses 2023: $288,907Net Income 2023: -$194,3382023Revenue 2024: $90,617Expenses 2024: $119,399Net Income 2024: -$28,7822024

Highlighted filing

2020

Revenue$135,701
Expenses$104,902
Net Income$30,799
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 15, 2021
Return Version
2020v4.1
Gross Receipts
$135,701
Mission and Program Overview

Mission

The beechwood educational foundation was formed to encourage, assist, promote, foster, and support education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$832,035$937,073▲ $105,038
Savings and Temporary Cash Investments$200,452$236,100▲ $35,648
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Land, Buildings, and Equipment, Net$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$1,032,487$1,173,173▲ $140,686
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,032,487$1,173,173▲ $140,686
Net Assets With Donor Restrictions$0$0→ $0
Total Net Assets Fund Balance$1,032,487$1,173,173▲ $140,686
Total Liabilities and Net Assets / Fund Balance$1,032,487$1,173,173▲ $140,686
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$127,052
Program Service Revenue
$0
Investment Income
$32,417
Other Revenue
$-23,768
All Other Contributions
$127,052
Change in Net Assets
$30,799
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$100,000
Other Expenses$4,902
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$100,000--$100,000
Fees for Services Accounting-$3,640-$3,640
Information Technology-$1,100-$1,100
Advertising-$127-$127
Other Expenses-$35-$35
Total Functional Expenses$100,000$4,902$0$104,902
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Zeta Chapter of Phi Gamma Delta IncBloomington, IN501(c)(7)Qualified Educational Expenses$100,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
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
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
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, Section A, Line 11B

Process to review form 990: the form 990 is prepared by an independent accounting firm and is reviewed by the board before the return is filed.

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

Process for monitoring compliance with conflict of interest policy: the board reviews the conflict of interest policy annually with all members of the board of directors. All trustees, officers, agents and employees are required to complete a disclosure statement. The disclosure statements are reviewed by the chairman of the board. Any person that has a conflict of interest is to abstain from participating in the discussion and voting on the matter.

Form 990, Part VI, Section C, Line 19

Documents available to the public: governing documents and the conflict of interest policy are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Beechwood Educational Foundation Inc
EIN
35-1521887
In Care Of
% THEODORE D DICKMAN
Phone
3173834000
Address
95 Wellington Road, INDIANAPOLIS, IN 46260

Signing Officer

Name
Theodore D Dickman
Title
President
Phone
3173834000
Signed
2021-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Theodore D Dickman
Formed
1981
Legal Domicile
In
Voting Board Members
4
Independent Board Members
4
Employees
0

Preparer

Firm
Bkd Llp
Address
201 N Illinois Street, Indianapolis, IN 46204
Preparer
Nicole B Fishback
Phone
3173834000
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IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0200452
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0236100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0127052
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0115454
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0204032
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0419188
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt01362599
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02228325
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt015312
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt019910
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt023688
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt034800
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt024741
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0118451
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.48228
IRS990ScheduleA/PublicSupportPY170Pct00.39911
IRS990ScheduleA/PublicSupportTotal170Amt01131805
IRS990ScheduleA/SubstantialContributorsTotAmt01096520
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0127052
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0115454
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0204032
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0419188
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt01362599
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02228325
IRS990ScheduleA/TotalSupportAmt02346776
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
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
IRS990ScheduleI/GrantRecordsMaintainedInd0true
IRS990ScheduleI/RecipientTable/CashGrantAmt0100000
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(c)(7)
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0QUALIFIED EDUCATIONAL EXPENSES
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0ZETA CHAPTER OF PHI GAMMA DELTA INC
IRS990ScheduleI/RecipientTable/RecipientEIN0356046095
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0475 N College Ave
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BLOOMINGTON
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IN
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd047404
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE UNITED STATES: THE FOUNDATION USES PHI GAMMA DELTA EDUCATIONAL FOUNDATION TO DISTRIBUTE ITS GRANTS. GRANTS MADE TO INDIVIDUALS ARE PAID TO THE INDIVIDUAL AFTER THEY HAVE PROVEN THEY ARE ENROLLED IN AN EDUCATIONAL INSTITUTION AND MEET CERTAIN CRITERIA.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PART I, LINE 2
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0PROCESS TO REVIEW FORM 990: THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND IS REVIEWED BY THE BOARD BEFORE THE RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY: THE BOARD REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY WITH ALL MEMBERS OF THE BOARD OF DIRECTORS. ALL TRUSTEES, OFFICERS, AGENTS AND EMPLOYEES ARE REQUIRED TO COMPLETE A DISCLOSURE STATEMENT. THE DISCLOSURE STATEMENTS ARE REVIEWED BY THE CHAIRMAN OF THE BOARD. ANY PERSON THAT HAS A CONFLICT OF INTEREST IS TO ABSTAIN FROM PARTICIPATING IN THE DISCUSSION AND VOTING ON THE MATTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DOCUMENTS AVAILABLE TO THE PUBLIC: GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
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IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt00
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01032487
IRS990/TotalAssetsEOYAmt01173173
IRS990/TotalAssetsGrp/BOYAmt01032487
IRS990/TotalAssetsGrp/EOYAmt01173173
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0127052
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt04902
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0100000
IRS990/TotalFunctionalExpensesGrp/TotalAmt0104902
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01032487
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01173173
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0100000
IRS990/TotalProgramServiceRevenueAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt08649
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0135701
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01032487
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01173173
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt095 Wellington Road
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046260
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0THEODORE D DICKMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum03173834000
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Beechwood Educational Foundation Inc
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O Ted Dickman
ReturnHeader/Filer/BusinessNameControlTxt0BEEC
ReturnHeader/Filer/EIN0351521887
ReturnHeader/Filer/InCareOfNm0% THEODORE D DICKMAN
ReturnHeader/Filer/PhoneNum03173834000
ReturnHeader/Filer/USAddress/AddressLine1Txt095 Wellington Road

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.46$0.00$1.46$0.09$0.12$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.31$0.00$1.31$0.09$0.29$0.19
2022Detailed filing. Detailed filing data is available for this year.$1.27$0.00$1.27$0.21$0.02$0.18
2021Detailed filing. Detailed filing data is available for this year.$1.34$0.00$1.34$0.14$0.02$0.13
2020Detailed filing. Detailed filing data is available for this year.$1.17$0.00$1.17$0.14$0.10$0.03
2019Detailed filing. Detailed filing data is available for this year.$1.03$0.00$1.03$0.15$0.58$0.43
2018Detailed filing. Detailed filing data is available for this year.$1.37$0.00$1.37$0.25$0.03$0.22
2017Detailed filing. Detailed filing data is available for this year.$1.11$0.00$1.11$0.46$0.47$0.01
2016Detailed filing. Detailed filing data is available for this year.$1.09$0.00$1.09$1.46$4.22$2.76
2015Detailed filing. Detailed filing data is available for this year.$3.93$0.00$3.93$2.74$0.02$2.72
2014Detailed filing. Detailed filing data is available for this year.$1.30$0.00$1.30$0.57$0.05$0.52
2013Detailed filing. Detailed filing data is available for this year.$0.90$0.00$0.90$0.27$0.04$0.23
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.00$0.72$0.05
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.00$0.80$0.05
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.88$0.00$0.88$0.02