Civic Intelligence

Itasca Community College Foundation

990 • Fiscal year 2017 • EIN 41-0991901

Jul 01, 2016 to Jun 30, 2017 • Filed on Feb 20, 2018

Organization ProfileWWW.ICCFOUNDATION.ORG
PO Box 539Grand Rapids, MN 55744

(218) 322-2450

Siviq Scores

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

Liabilities / Assets

16th percentile

0.00x

Higher debt load relative to assets than 16% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Liabilities / Revenue

17th percentile

0.00x

Higher debt load relative to revenue than 17% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Net Margin

96th percentile

72%

Higher net margin than 96% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Top Officer Pay

51st percentile

$64,718

Higher top officer pay than 51% of similar nonprofits.

Top officer pay equals 5.7% of source-year revenue.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Asset Growth

72nd percentile

12%

Faster asset growth than 72% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Revenue Growth

100th percentile

3908%

Faster revenue growth than 100% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets16th percentile

Assets

Up

$4,932,130

Up $546,394 (+12%) from 2016

Net Assets

Up

$4,928,871

Up $544,737 (+12%) from 2016

Liabilities

Up

$3,259

Up $1,657 (+103%) from 2016

Revenue And Expenses
Liabilities / Revenue17th percentileNet Margin96th percentile

Revenue

Up

$1,140,084

Up $1,111,641 (+3908%) from 2016

Expenses

Down

$324,671

Down $22,203 (-6.4%) from 2016

Net Income

Up

$815,413

Up $1,133,844 (+356%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth72nd percentile

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

$6.0M$4.0M$2.0M$0Assets 2011: $4,034,554Liabilities 2011: $1,085Net Assets 2011: $4,033,4692011Assets 2012: $3,827,790Liabilities 2012: $10,537Net Assets 2012: $3,817,2532012Assets 2013: $4,191,653Liabilities 2013: $1,335Net Assets 2013: $4,190,3182013Assets 2014: $4,754,597Liabilities 2014: $1,473Net Assets 2014: $4,753,1242014Assets 2015: $4,702,565Liabilities 2015: $0Net Assets 2015: $4,702,5652015Assets 2016: $4,385,736Liabilities 2016: $1,602Net Assets 2016: $4,384,1342016Assets 2017: $4,932,130Liabilities 2017: $3,259Net Assets 2017: $4,928,8712017Assets 2018: $5,519,362Liabilities 2018: $2,988Net Assets 2018: $5,516,3742018Assets 2019: $5,971,590Liabilities 2019: $6,394Net Assets 2019: $5,965,1962019Assets 2020: $5,592,088Liabilities 2020: $2,061Net Assets 2020: $5,590,0272020Assets 2021: $5,564,379Liabilities 2021: $1,425Net Assets 2021: $5,562,9542021Assets 2022: $4,845,985Liabilities 2022: $3,353Net Assets 2022: $4,842,6322022Assets 2023: $5,277,046Liabilities 2023: $30,023Net Assets 2023: $5,247,0232023Assets 2024: $5,852,843Liabilities 2024: $15,856Net Assets 2024: $5,836,9872024

Highlighted filing

2017

Assets$4,932,130
Liabilities$3,259
Net Assets$4,928,871
Open 2017 Filing

Operations Trend

Revenue Growth100th percentile

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

$4.0M$2.0M$0-$2.0MExpenses 2011: $248,1372011Expenses 2012: $299,7682012Revenue 2013: $277,718Expenses 2013: $332,414Net Income 2013: -$54,6962013Revenue 2014: $362,227Expenses 2014: $388,090Net Income 2014: -$25,8632014Revenue 2015: $462,982Expenses 2015: $483,896Net Income 2015: -$20,9142015Revenue 2016: $28,443Expenses 2016: $346,874Net Income 2016: -$318,4312016Revenue 2017: $1,140,084Expenses 2017: $324,671Net Income 2017: $815,4132017Revenue 2018: $946,515Expenses 2018: $359,012Net Income 2018: $587,5032018Revenue 2019: $848,822Expenses 2019: $400,000Net Income 2019: $448,8222019Revenue 2020: $3,235,707Expenses 2020: $3,566,078Net Income 2020: -$330,3712020Revenue 2021: $931,890Expenses 2021: $2,099,045Net Income 2021: -$1,167,1552021Revenue 2022: -$301,295Expenses 2022: $419,027Net Income 2022: -$720,3222022Revenue 2023: $488,996Expenses 2023: $454,710Net Income 2023: $34,2862023Revenue 2024: $696,604Expenses 2024: $410,978Net Income 2024: $285,6262024

Highlighted filing

2017

Revenue$1,140,084
Expenses$324,671
Net Income$815,413
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Feb 20, 2018
Return Version
2016v3.1
Gross Receipts
$1,140,084
Mission and Program Overview

Mission

The ICC Foundation supports and benefits students and the college by encouraging and facilitating financial contributions from alumni and friends of the college.

To secure and facilitate voluntary support from the independent sector to fund student assistance and special programs in response to unique educational needs and opportunities in the area.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$4,204,830$4,702,692▲ $497,862
Investments Other Securities$116,714$117,203▲ $489
Cash and Non-Interest-Bearing Accounts$33,383$59,694▲ $26,311
Savings and Temporary Cash Investments$10,039$31,346▲ $21,307
Accounts Receivable$899$708▼ $191
Total Assets$4,385,736$4,932,130▲ $546,394
Other Assets Total$19,871$20,487▲ $616
Liabilities
Accounts Payable and Accrued Expenses$1,602$3,259▲ $1,657
Total Liabilities$1,602$3,259▲ $1,657
Net Assets / Fund Balance
Permanently Rstr Net Assets$2,865,435$2,891,700▲ $26,265
Temporarily Rstr Net Assets$921,688$1,243,088▲ $321,400
Unrestricted Net Assets$597,011$794,083▲ $197,072
Total Net Assets Fund Balance$4,384,134$4,928,871▲ $544,737
Total Liabilities and Net Assets / Fund Balance$4,385,736$4,932,130▲ $546,394
Compensation and Service Providers
Top Officer Pay51st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Susan LynchFoundation DFT$62,833$1,885$64,718

Board Members and Trustees

NameTitle
Cindy FeyderChair
Ron OleheiserVice-chair
Debbie BrunsDirector
Diane DavisDirector
Donna AndersonDirector
Jackie GallopDirector
Janice KangasDirector
Loren SolbergDirector
Mary IvesDirector
Peter BirkeyDirector
Tom McbrideDirector
Pat MedureSecretary
Kirk AdamsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$541,352
Program Service Revenue
$0
Investment Income
$598,732
Other Revenue
$0
All Other Contributions
$270,676
Change in Net Assets
$815,413

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,140,084
Revenue Not Reported on Form 990
$12,335
Total Revenue per Audited Statements
$1,152,419
Total Revenue per Form 990
$1,140,084
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$147,537
Other Expenses$105,251
Salaries, Compensation, and Employee Benefits$71,883
Total Fundraising Expense$166
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$147,537--$147,537
Current Officers, Directors, Trustees, and Key Employees-$64,718-$64,718
Fees for Services Accounting-$17,902-$17,902
Advertising-$10,725-$10,725
Payroll Taxes-$7,165-$7,165
Travel-$2,544-$2,544
Other Expenses$41,426$2,072-$2,072
Office Expenses-$566$166$732
Total Functional Expenses$188,963$135,542$166$324,671

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$337,006
Expenses per Audited Statements$324,671
Total Expenses per Form 990$324,671
Expenses Not Reported on Form 990$12,335
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
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, Page 6, Part VI, Line 11B

“Return provided to the board of directors for review and comment prior to filing”

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

“The executive/development directors compensation is reviewed and determined by the board of directors on an annual basis”

Form 990, Page 6, Part VI, Line 19

“AVAILABLE UPON REQUEST”

Filing and Contact Details

Filer

Filer Name
Itasca Community College Foundation
EIN
41-0991901
Phone
2183222450
Address
PO BOX 539, GRAND RAPIDS, MN 55744
Doing Business As
Itasca Community College Foundation

Signing Officer

Name
Susan Lynch
Title
Foundation Director
Phone
2183222450
Signed
2018-02-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Susan Lynch
Formed
1988
Legal Domicile
Mn
Voting Board Members
13
Independent Board Members
13
Employees
1

Preparer

Firm
Sholom R Blake CPA
Address
16 NE 3RD ST, GRAND RAPIDS, MN 55744-2726
Preparer
Sholom R Blake CPA
Phone
2183262879
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

“To secure and facilitate voluntary support from the independent sector to fund student assistance and special programs in response to unique educational needs and opportunities in the area.”

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IRS990/PYOtherRevenueAmt020592
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0246058
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0177840
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01212455
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearAmt012335
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus1YearAmt011975
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IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus3YearsAmt011325
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus4YearsAmt011092
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt058052
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0113390
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0116977
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt086547
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt096425
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt078085
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0491424
IRS990ScheduleA/PublicSupportCY170Pct00.72110
IRS990ScheduleA/PublicSupportPY170Pct00.71350
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0257383
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0188932
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01270507
IRS990ScheduleA/TotalSupportAmt01761931
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IRS990ScheduleD/DonatedServicesAndUseFcltsAmt012335
IRS990ScheduleD/DonatedServicesUseFcltsAmt012335
IRS990ScheduleD/ExpensesNotReportedAmt012335
IRS990ScheduleD/ExpensesSubtotalAmt0324671
IRS990ScheduleD/RevenueNotReportedAmt012335
IRS990ScheduleD/RevenueSubtotalAmt01140084
IRS990ScheduleD/TotalExpensesPerForm990Amt0324671
IRS990ScheduleD/TotalRevenuePerForm990Amt01140084
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01152419
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0337006
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IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0147537
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0SCHOLARSHIP
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt0143
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE ITASCA COMMUNITY COLLEGE FOUNDATION PROVIDES GRANTS AND SCHOLARSHIPS TO INDIVIDUAL STUDENTS ATTENDING THE COLLEGE IN ORDER TO MAKE COLLEGE MORE AFFORDABLE. SCHOLARSHIPS ARE AWARDED BASED ON FACTORS DETERMINED BY THE INDIVIDUAL SCHOLARSHIP FUND AND MAY INCLUDE ITEMS SUCH AS FIELD OF STUDY, GEOGRAPHIC AREA, NEED AND ACADEMIC ACHIEVEMENT. THE NUMBER OF SCHOLARSHIPS AWARDED ON AN ANNUAL BASIS VARIES BASED ON THE FUNDS AVAILABLE AND THE NUMBER OF APPLICANTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 4, PART IV
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TO SECURE AND FACILITATE VOLUNTARY SUPPORT FROM THE INDEPENDENT SECTOR TO FUND STUDENT ASSISTANCE AND SPECIAL PROGRAMS IN RESPONSE TO UNIQUE EDUCATIONAL NEEDS AND OPPORTUNITIES IN THE AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1RETURN PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT PRIOR TO FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE EXECUTIVE/DEVELOPMENT DIRECTORS COMPENSATION IS REVIEWED AND DETERMINED BY THE BOARD OF DIRECTORS ON AN ANNUAL BASIS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0MN
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
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IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt01243088
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsEOYAmt04932130
IRS990/TotalAssetsGrp/BOYAmt04385736
IRS990/TotalAssetsGrp/EOYAmt04932130
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0541352
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0166
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0135542
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0188963
IRS990/TotalFunctionalExpensesGrp/TotalAmt0324671
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01602
IRS990/TotalLiabilitiesEOYAmt03259
IRS990/TotalLiabilitiesGrp/BOYAmt01602
IRS990/TotalLiabilitiesGrp/EOYAmt03259
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt04384134
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt04928871
IRS990/TotalOtherCompensationAmt01885
IRS990/TotalProgramServiceExpensesAmt0188963
IRS990/TotalReportableCompFromOrgAmt062833
IRS990/TotalRevenueGrp/ExclusionAmt0598732
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01140084
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04385736
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04932130
IRS990/TravelGrp/ManagementAndGeneralAmt02544
IRS990/TravelGrp/TotalAmt02544
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0597011
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0794083
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0WWW.ICCFOUNDATION.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0SUSAN LYNCH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FOUNDATION DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum02183222450
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-02-20
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ITASCA COMMUNITY COLLEGE FOUNDATION
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0539
ReturnHeader/Filer/BusinessNameControlTxt0ITAS
ReturnHeader/Filer/EIN0410991901
ReturnHeader/Filer/PhoneNum02183222450
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 539
ReturnHeader/Filer/USAddress/CityNm0GRAND RAPIDS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MN
ReturnHeader/Filer/USAddress/ZIPCd055744
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07F8DA1CA24E96FDB236727D7A786CEDCD9823B05
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0A5F0722B2E1EE60B7359FC3108F559BC9498E2AF
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0264434097
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0SHOLOM R BLAKE CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt016 NE 3RD ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GRAND RAPIDS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0557442726
ReturnHeader/PreparerPersonGrp/PhoneNum02183262879
ReturnHeader/PreparerPersonGrp/PreparationDt02018-02-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SHOLOM R BLAKE CPA
ReturnHeader/ReturnTs02018-02-22T15:47:48-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01

Document Assets

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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,932,130
Liabilities
$3,259
Net assets
$4,928,871
Revenue
$1,140,084
Expenses
$324,671
Net income
$815,413
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.85$0.02$5.84$0.70$0.41$0.29
2023Detailed filing. Detailed filing data is available for this year.$5.28$0.03$5.25$0.49$0.45$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.85$0.00$4.84$0.30$0.42$0.72
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.56$0.00$5.56$0.93$2.10$1.17
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.59$0.00$5.59$3.24$3.57$0.33
2019Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$5.97$0.01$5.97$0.85$0.40$0.45
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.52$0.00$5.52$0.95$0.36$0.59
2017Detailed filing. Detailed filing data is available for this year.$4.93$0.00$4.93$1.14$0.32$0.82
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.39$0.00$4.38$0.03$0.35$0.32
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.70$0.00$4.70$0.46$0.48$0.02
2014Detailed filing. Detailed filing data is available for this year.$4.75$0.00$4.75$0.36$0.39$0.03
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.19$0.00$4.19$0.28$0.33$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.83$0.01$3.82$0.30
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.03$0.00$4.03$0.25