Civic Intelligence

Dordt University Incorporated

990 • Fiscal year 2020 • EIN 42-0772559

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

700 7th Street NESioux Center, IA 51250

(712) 722-6010

Siviq Scores

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

Liabilities / Assets

30th percentile

0.13x

Higher debt load relative to assets than 30% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Liabilities / Revenue

33rd percentile

0.30x

Higher debt load relative to revenue than 33% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Net Margin

68th percentile

10%

Higher net margin than 68% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Top Officer Pay

27th percentile

$303,338

Higher top officer pay than 27% of similar nonprofits.

Top officer pay equals 0.4% of source-year revenue.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2020

Asset Growth

43rd percentile

3.3%

Faster asset growth than 43% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Revenue Growth

58th percentile

4.7%

Faster revenue growth than 58% of similar nonprofits.

2020 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2019 to 2020

Assets

Up

$163,339,579

Up $5,193,972 (+3.3%) from 2019

Net Assets

Up

$142,055,126

Up $5,318,880 (+3.9%) from 2019

Liabilities

Down

$21,284,453

Down $124,908 (-0.6%) from 2019

Revenue

Up

$70,959,716

Up $3,182,114 (+4.7%) from 2019

Expenses

Up

$63,552,159

Up $2,294,351 (+3.7%) from 2019

Net Income

Up

$7,407,557

Up $887,763 (+14%) from 2019

Historical Trend

Balance Sheet Trend

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

$300M$200M$100M$0Assets 2010: $103,112,937Liabilities 2010: $27,716,960Net Assets 2010: $75,395,9772010Assets 2011: $110,042,953Liabilities 2011: $26,837,948Net Assets 2011: $83,205,0052011Assets 2012: $111,873,080Liabilities 2012: $25,762,992Net Assets 2012: $86,110,0882012Assets 2013: $117,530,015Liabilities 2013: $25,625,376Net Assets 2013: $91,904,6392013Assets 2014: $129,776,291Liabilities 2014: $26,758,745Net Assets 2014: $103,017,5462014Assets 2015: $130,166,003Liabilities 2015: $22,931,671Net Assets 2015: $107,234,3322015Assets 2016: $135,507,217Liabilities 2016: $22,255,593Net Assets 2016: $113,251,6242016Assets 2017: $144,504,345Liabilities 2017: $21,750,307Net Assets 2017: $122,754,0382017Assets 2018: $149,632,965Liabilities 2018: $19,738,280Net Assets 2018: $129,894,6852018Assets 2019: $158,145,607Liabilities 2019: $21,409,361Net Assets 2019: $136,736,2462019Assets 2020: $163,339,579Liabilities 2020: $21,284,453Net Assets 2020: $142,055,1262020Assets 2021: $189,965,325Liabilities 2021: $15,720,847Net Assets 2021: $174,244,4782021Assets 2022: $194,330,797Liabilities 2022: $16,154,765Net Assets 2022: $178,176,0322022Assets 2023: $207,735,760Liabilities 2023: $16,270,344Net Assets 2023: $191,465,4162023Assets 2024: $231,512,773Liabilities 2024: $22,377,171Net Assets 2024: $209,135,6022024

Highlighted filing

2020

Assets$163,339,579
Liabilities$21,284,453
Net Assets$142,055,126

Operations Trend

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

$100M$50M$0Expenses 2010: $39,225,1802010Expenses 2011: $41,693,6922011Expenses 2012: $45,429,5062012Expenses 2013: $45,330,1872013Revenue 2014: $55,952,441Expenses 2014: $48,754,250Net Income 2014: $7,198,1912014Revenue 2015: $56,497,070Expenses 2015: $51,583,122Net Income 2015: $4,913,9482015Revenue 2016: $61,426,270Expenses 2016: $53,997,293Net Income 2016: $7,428,9772016Revenue 2017: $64,014,281Expenses 2017: $57,149,414Net Income 2017: $6,864,8672017Revenue 2018: $66,007,447Expenses 2018: $57,687,067Net Income 2018: $8,320,3802018Revenue 2019: $67,777,602Expenses 2019: $61,257,808Net Income 2019: $6,519,7942019Revenue 2020: $70,959,716Expenses 2020: $63,552,159Net Income 2020: $7,407,5572020Revenue 2021: $85,519,781Expenses 2021: $66,298,441Net Income 2021: $19,221,3402021Revenue 2022: $91,262,261Expenses 2022: $72,952,974Net Income 2022: $18,309,2872022Revenue 2023: $90,221,171Expenses 2023: $83,142,045Net Income 2023: $7,079,1262023Revenue 2024: $95,383,464Expenses 2024: $84,544,563Net Income 2024: $10,838,9012024

Highlighted filing

2020

Revenue$70,959,716
Expenses$63,552,159
Net Income$7,407,557
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.1
Gross Receipts
$72,072,026
Mission and Program Overview

Mission

As an institution of higher education committed to the reformed christian perspective, dordt university equips students, alumni, and the broader community to work effectively toward christ-centered renewal in all aspects of contemporary life.

Dordt university was founded in 1955 and provides christ-centered education for students, alumni, and the broader community.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$89,720,777$89,439,863▼ $280,914
Investments in Publicly Traded Securities$52,826,343$49,976,920▼ $2,849,423
Investments Program Related$7,702,572$7,516,935▼ $185,637
Pledges and Grants Receivable$6,303,670$7,103,091▲ $799,421
Savings and Temporary Cash Investments$129,515$7,050,048▲ $6,920,533
Inventories for Sale or Use$405,903$405,019▼ $884
Accounts Receivable$546,155$389,093▼ $157,062
Prepaid Expenses and Deferred Charges$176,248$49,197▼ $127,051
Cash and Non-Interest-Bearing Accounts$6,804$7,958▲ $1,154
Other Notes and Loans Receivable, Net$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$158,145,607$163,339,579▲ $5,193,972
Other Assets Total$327,620$1,401,455▲ $1,073,835
Liabilities
Tax Exempt Bond Liabilities$9,725,000$8,375,000▼ $1,350,000
Other Liabilities$4,308,177$5,097,718▲ $789,541
Unsecured Notes Loans Payable$0$4,000,000▲ $4,000,000
Accounts Payable and Accrued Expenses$4,322,400$3,017,724▼ $1,304,676
Deferred Revenue$543,125$651,036▲ $107,911
Mortgage Notes Payable Secured by Investment Property$2,510,660$142,975▼ $2,367,685
Grants Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$21,409,362$21,284,453▼ $124,909
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$94,835,108$99,785,719▲ $4,950,611
Net Assets With Donor Restrictions$41,901,137$42,269,407▲ $368,270
Total Net Assets Fund Balance$136,736,245$142,055,126▲ $5,318,881
Total Liabilities and Net Assets / Fund Balance$158,145,607$163,339,579▲ $5,193,972

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$69,418,169$48,541,012$117,959,181
Equipment$10,812,337-$10,812,337
Leasehold Improvements$4,404,413-$4,404,413
Other Land Buildings$3,177,153-$3,177,153
Land$1,627,791-$1,627,791

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$48,061,109$1,331,464▲ $1,009,753$209,754$49,612,232
2018$44,133,818$2,602,876▲ $2,544,737$262,704$48,061,109
2017$40,990,426$1,242,200▲ $3,428,385$1,098,122$44,133,818
2016$35,397,974$1,925,348▲ $5,116,622$840,055$40,990,426
2015$35,671,466$679,844▲ $233,720$643,502$35,397,974
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Erik HoekstraPresidentFT$250,826$52,512$303,338
John BaasDirector of AdvancementFT$134,376$43,105$177,481
Eric ForsethProvostFT$137,416$31,104$168,520
Nathan TintleProfessor of StatisticsFT$122,278$38,451$160,729
Howard WilsonVice President - OperationsFT$124,503$31,669$156,172
Stephanie BaccamTreasurer/exec Director Fin & RiskFT$99,178$31,239$130,417
Douglas DeboerProfessor of EngineeringFT$113,519$3,952$117,471

Board Members and Trustees

NameTitle
Deb BroekBoard Member/chair
Kim DooyemaBoard Member/vice Chair
Amy Vander HaagBoard Member
Beth Te GrotenhuisBoard Member
Brian DijkemaBoard Member
Carlos BahenaBoard Member
Chery De BoerBoard Member
Dan GibsonBoard Member
Daryl BouwkampBoard Member
Gerald ReinsmaBoard Member
Jeremy Van EssenBoard Member
Jerry Van VlietBoard Member
John LederBoard Member
Jonathan BleekerBoard Member
Keith KorthuisBoard Member
Kelly TienBoard Member
Rev Allen BrummelBoard Member
Rev David SmitBoard Member
Rev Glenn GerdesBoard Member
Rev John LeeBoard Member
Rev John VermeerBoard Member
Rev Matthew HaanBoard Member
Rev Michael Ten HakenBoard Member
Rev Russell HermanBoard Member
Richard MouwBoard Member
Salome NengeanBoard Member
Brent DisselkoenBoard Member/secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Creative Dining ServicesDining Services1 ROYAL PARK DR STE 3, Zeeland, MI 49464$2,531,462
Hoogendoorn ConstructionConstruction47895 US HWY 18, Canton, SD 57013$1,494,550
Hastings And Chivetta ArchitectsArchitect622 EMERSON RD, St Louis, MO 63141$567,085
Westfall GroupFundraising75 14TH ST NE SUITE 3050, Atlanta, GA 30309$182,633
Bouma Company INCConstruction1503 8TH ST SE, Orange City, IA 51041$147,735
Revenue and Support

Revenue Composition

Contributions and Grants
$15,655,855
Program Service Revenue
$51,814,424
Investment Income
$3,276,627
Other Revenue
$212,810
All Other Contributions
$12,742,827
Change in Net Assets
$7,407,557

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded14$1,306,052Fair Market Value
Total Noncash Contributions14$1,306,052-

Audited Revenue Reconciliation

Revenue per Audited Statements
$50,244,509
Revenue Not Reported on Financial Statements
$20,715,207
Revenue Not Reported on Form 990
$-2,038,038
Other Revenue Adjustments
$20,715,207
Total Revenue per Audited Statements
$48,206,471
Total Revenue per Form 990
$70,959,716
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$24,225,158
Grants and Similar Amounts Paid$20,715,207
Other Expenses$18,429,161
Total Fundraising Expense$3,066,374
Professional Fundraising Fees$182,633

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$20,458,391--$20,458,391
Other Salaries and Wages$14,473,363$1,997,454$1,289,004$17,759,821
Fees for Services Other$4,468,242$148,646$402,633$5,019,521
Other Employee Benefits$3,077,113$412,409$126,751$3,616,273
Depreciation Depletion$2,948,525$112,583-$3,061,108
Occupancy$2,135,404$190,813$7,229$2,333,446
Travel$968,111$35,721$385,152$1,388,984
Pension Plan Contributions$973,108$165,062$69,097$1,207,267
Payroll Taxes$946,901$177,320$66,099$1,190,320
Office Expenses$497,144$17,158$63,870$578,172
Insurance$460,455$82,527-$542,982
Current Officers, Directors, Trustees, and Key Employees-$293,420$158,057$451,477
Advertising$230,451$127,704$22,751$380,906
All Other Expenses$265,580$51,582$11,829$328,991
Interest$218,596$63,005-$281,601
Foreign Grants$256,816--$256,816
Other Expenses$88,992$113,390$15,131$0
Conferences and Meetings$178,896$19,725$5,046$203,667
Fees for Services Professional Fundraising--$182,633$182,633
Fees for Services Legal$38,712$49,109-$87,821
Fees for Services Accounting-$70,701-$70,701
Royalties$2,894--$2,894
Total Functional Expenses$55,767,941$4,717,844$3,066,374$63,552,159

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$63,552,159
Total Expenses per Audited Statements$42,887,590
Expenses per Audited Statements$42,836,952
Expenses Not Reported on Financial Statements$20,715,207
Other Expense Adjustments$20,715,207
Expenses Not Reported on Form 990$50,638
International Activity

International Summary

Spending
$256,816

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
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (including Iceland and Greenland)Program ServicesStudy abroad program--$162,079
Sub-saharan AfricaProgram ServicesStudy abroad program--$67,513
East Asia and the PacificProgram ServicesStudy abroad program--$20,799
Middle East and North AfricaProgram ServicesStudy abroad program--$6,425
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$182,633
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Student and Other deposits$2,832,973
US Govt Grants Refundable$1,864,749
Annuities Payable$471,853
Bond Discount$-71,857

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACity of Sioux Center2009-05-01$7,250,000Classroom building renovation
BSioux County2013-09-05$7,000,000REFINANCE KUYPER HALL
CCity of Sioux Center2013-09-05$4,100,000REFINANCE KUYPER HALL

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$7,250,000$4,250,000$6,500,000$0
B$7,000,000$6,895,000$0$105,000
C$4,100,000$4,038,450$3,475,000$61,550

Bond Financing Compliance

Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
Yes
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
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 1

The executive committee is comprised of seven to ten voting members from the board of trustees and the president including the officers of the board, the chairs of board standing committees and four additional board members selected by the board of trustees. The executive committee has the duty to make recommendations to the board of trustees and other acts that are in the best interest of the university, including making decisions which cannot be prudently withheld until the next meeting of the board of trustees and oversight of the executive compensation process. Certain actions are reserved to the full board of trustees as outlined in the bylaws.

Form 990, Part VI, Section A, Line 1B and Schedule L, Part III

Children of board members attending Dordt receive scholarships awarded based on the same qualifications as all other students applying for scholarships at Dordt. They do not receive preferential aid.

Form 990, Part VI, Section A, Line 6

The college's members consist of the society made up of confessing members of the christian reformed church.

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

Twelve members of the board of trustees are elected by the regional classis from among their members including the following: lake superior, minnkota, north central iowa, heartland, central plains, iakota, california, south/greater los angeles, central california, columbia/pacific, northwest/northern cascades, arizona/red mesa, rocky mountain/yellowstone, wisconsin, eastern canada, and western canada.

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

An independent accounting firm prepares and reviews the 990. The 990 is then reviewed by the organization's officers and accounting personnel. Any questions and concerns the organization's officers and accounting personnel have are addressed and any corrections or clarifications that need to be made are made. The 990 is then provided to the finance committee of the board for their review prior to filing the 990. Any questions and concerns the finance committee have are addressed and any concerns or clarifications that need to be made are made. The final form 990 with all required schedules is then provided to all voting members of the board prior to filing the 990.

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

The university's conflict of interest policy covers the board of trustees. Each board trustee is required to annually complete and sign a conflict of interest disclosure statement. Any conflicts of interest must be disclosed and the executive committee will take appropriate action in dealing with any conflicts so disclosed. If a conflict of interest is determined to exist, the board trustee will withdraw from any discussion and abstain from voting on any matters where his/her personal interest may be involved. Any conflict of interest report is documented in the meeting minutes.

Form 990, Part VI, Section B, Line 15A

Compensation for the president is determined using comparability data and is approved by the board of trustees on an annual basis. Compensation levels should be comparable to similar positions within educational institutions with similar characteristics as dordt university. The decision is documented by the board chair and sent to human resources. This process was most recently undertaken in 2018.

Form 990, Part VI, Section C, Line 19

Dordt makes its governing documents, conflict of interest policy, and financial statements available to the public upon request at the business office.

Filing and Contact Details

Filer

Filer Name
Dordt University
EIN
42-0772559
In Care Of
% STEPHANIE BACCAM
Phone
7127226010
Address
700 7TH STREET NE, SIOUX CENTER, IA 51250

Signing Officer

Name
Stephanie Baccam
Title
VP of Finance & Risk
Phone
7127226010
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Stephanie Baccam
Formed
1955
Legal Domicile
Ia
Voting Board Members
24
Independent Board Members
19
Employees
1,480
Volunteers
170

Preparer

Firm
Bkd Llp
Address
1201 Walnut Suite 1700, Kansas City, MO 64106-2246
Preparer
Michael J Engle
Phone
8162216300
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4A

Dordt currently serves over 1,500 students from 20+ countries. Its academic offerings include various undergraduate programs as well as online studies, graduate programs, and professional-technical associate degrees. Within six months of graduation 99% of students are employed or in grad school. Dordt's other areas that support these programs include academic support, student services, auxiliary services (student housing), and research. According to us news and world report rankings, dordt is the third best regional university in the midwest. Dordt also tied for the second most innovative in the midwest as well as the second best undergraduate teaching university. The wall street journal has also ranked dordt no. 1 in the nation for student engagement four years in a row.

Form 990, Part XI, Line 9

Change in value of split interest agreements (52,348) loan cancellations and write offs (50,638) --------- (102,986)

Financial Statement Notes

Schedule D, Part V, Line 4

The college's endowment is used to provide scholarships for students and money for general operations of the university.

Schedule D, Part X, Line 2

Management has evaluated their income tax positions under the guidance included in ASC 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.

Schedule D, Part XI, Line 2D

Change in value of split interest agreements $ (52,348)

Schedule D, Part XI, Line 4B

Scholarships $ 20,715,207

Schedule D, Part XII, Line 2D

Loan cancellations and write offs $ 50,638

Schedule D, Part XII, Line 4B

Scholarships $ 20,715,207

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IRS990/Form990PartVIISectionAGrp/PersonNm26JERRY VAN VLIET
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR OF ADVANCEMENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2PROVOST
IRS990/Form990PartVIISectionAGrp/TitleTxt3PROFESSOR OF STATISTICS
IRS990/Form990PartVIISectionAGrp/TitleTxt4VICE PRESIDENT - OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER/EXEC DIR FIN & RISK
IRS990/Form990PartVIISectionAGrp/TitleTxt6PROFESSOR OF ENGINEERING
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER/CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER/SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt9BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt10BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$232$22.4$209$95.4$84.5$10.8
2023Detailed filing. Detailed filing data is available for this year.$208$16.3$191$90.2$83.1$7.08
2022Detailed filing. Detailed filing data is available for this year.$194$16.2$178$91.3$73.0$18.3
2021Detailed filing. Detailed filing data is available for this year.$190$15.7$174$85.5$66.3$19.2
2020Detailed filing. Detailed filing data is available for this year.$163$21.3$142$71.0$63.6$7.41
2019Summary only. Only limited summary data is available for this year.$158$21.4$137$67.8$61.3$6.52
2018Detailed filing. Detailed filing data is available for this year.$150$19.7$130$66.0$57.7$8.32
2017Detailed filing. Detailed filing data is available for this year.$145$21.8$123$64.0$57.1$6.86
2016Detailed filing. Detailed filing data is available for this year.$136$22.3$113$61.4$54.0$7.43
2015Detailed filing. Detailed filing data is available for this year.$130$22.9$107$56.5$51.6$4.91
2014Detailed filing. Detailed filing data is available for this year.$130$26.8$103$56.0$48.8$7.20
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$118$25.6$91.9$45.3
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$112$25.8$86.1$45.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$110$26.8$83.2$41.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$103$27.7$75.4$39.2