Civic Intelligence

The Classical Academy of Sarasota Inc.

990 • Fiscal year 2018 • EIN 46-3754462

Jul 01, 2017 to Jun 30, 2018 • Filed on Dec 17, 2018

8751 Fruitville RdSarasota, FL 34240

(941) 925-2153

Siviq Scores

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

Liabilities / Assets

84th percentile

0.60x

Higher debt load relative to assets than 84% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Liabilities / Revenue

73rd percentile

0.34x

Higher debt load relative to revenue than 73% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

51st percentile

3.2%

Higher net margin than 51% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

93rd percentile

64%

Faster asset growth than 93% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

38th percentile

-0.4%

Faster revenue growth than 38% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Assets

Up

$990,024

Up $386,524 (+64%) from 2017

Net Assets

Down

$398,737

Down $9,750 (-2.4%) from 2017

Liabilities

Up

$591,287

Up $396,274 (+203%) from 2017

Revenue

Down

$1,762,410

Down $6,849 (-0.4%) from 2017

Expenses

Up

$1,705,148

Up $202,010 (+13%) from 2017

Net Income

Down

$57,262

Down $208,859 (-78%) from 2017

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $9,399Liabilities 2013: $02013Assets 2014: $226,733Liabilities 2014: $0Net Assets 2014: $226,7332014Assets 2015: $393,173Liabilities 2015: $0Net Assets 2015: $393,1732015Assets 2016: $1,756,998Liabilities 2016: $1,582,123Net Assets 2016: $174,8752016Assets 2017: $603,500Liabilities 2017: $195,013Net Assets 2017: $408,4872017Assets 2018: $990,024Liabilities 2018: $591,287Net Assets 2018: $398,7372018Assets 2019: $1,039,702Liabilities 2019: $552,678Net Assets 2019: $487,0242019Assets 2020: $1,349,258Liabilities 2020: $694,827Net Assets 2020: $654,4312020Assets 2021: $2,883,515Liabilities 2021: $1,419,058Net Assets 2021: $1,464,4572021Assets 2022: $11,080,067Liabilities 2022: $6,412,419Net Assets 2022: $4,667,6482022Assets 2023: $10,086,123Liabilities 2023: $5,721,367Net Assets 2023: $4,364,7562023Assets 2024: $10,077,100Liabilities 2024: $4,558,422Net Assets 2024: $5,518,6782024

Highlighted filing

2018

Assets$990,024
Liabilities$591,287
Net Assets$398,737

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2013: $13,891Expenses 2013: $4,492Net Income 2013: $9,3992013Revenue 2014: $641,588Expenses 2014: $418,834Net Income 2014: $222,7542014Revenue 2015: $619,213Expenses 2015: $452,774Net Income 2015: $166,4392015Revenue 2016: $1,526,676Expenses 2016: $1,499,614Net Income 2016: $27,0622016Revenue 2017: $1,769,259Expenses 2017: $1,503,138Net Income 2017: $266,1212017Revenue 2018: $1,762,410Expenses 2018: $1,705,148Net Income 2018: $57,2622018Revenue 2019: $2,017,973Expenses 2019: $1,929,686Net Income 2019: $88,2872019Revenue 2020: $2,534,992Expenses 2020: $2,367,585Net Income 2020: $167,4072020Revenue 2021: $3,836,672Expenses 2021: $3,051,703Net Income 2021: $784,9692021Revenue 2022: $8,204,460Expenses 2022: $5,001,269Net Income 2022: $3,203,1912022Revenue 2023: $7,670,052Expenses 2023: $7,972,944Net Income 2023: -$302,8922023Revenue 2024: $10,652,724Expenses 2024: $9,498,802Net Income 2024: $1,153,9222024

Highlighted filing

2018

Revenue$1,762,410
Expenses$1,705,148
Net Income$57,262
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Dec 17, 2018
Return Version
2017v2.3
Gross Receipts
$1,763,138
Mission and Program Overview

Mission

Developing the academic potential of each student through a rigorous content-rich, classical liberal arts education, while building in them a virtuous character.

Developing the academic potential and character of students through a classical liberal arts education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$167,732$505,782▲ $338,050
Cash and Non-Interest-Bearing Accounts$263,346$224,790▼ $38,556
Savings and Temporary Cash Investments$152,304$176,160▲ $23,856
Pledges and Grants Receivable-$35,405-
Prepaid Expenses and Deferred Charges$2,604$15,100▲ $12,496
Accounts Receivable$8,515$7,946▼ $569
Intangible Assets-$2,902-
Other Notes and Loans Receivable, Net$1,499$1,499→ $0
Total Assets$603,500$990,024▲ $386,524
Other Assets Total$7,500$20,440▲ $12,940
Liabilities
Deferred Revenue$160,952$284,542▲ $123,590
Mortgage Notes Payable Secured by Investment Property-$282,540-
Accounts Payable and Accrued Expenses$34,061$24,205▼ $9,856
Total Liabilities$195,013$591,287▲ $396,274
Net Assets / Fund Balance
Unrestricted Net Assets$408,487$398,737▼ $9,750
Total Net Assets Fund Balance$408,487$398,737▼ $9,750
Total Liabilities and Net Assets / Fund Balance$603,500$990,024▲ $386,524
Compensation and Service Providers

Board Members and Trustees

NameTitle
David SugarPresident
Harry LambroussisDirector
Kim MontgomerySecretary
Joseph PengeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$51,835
Program Service Revenue
$1,670,372
Investment Income
$1,056
Other Revenue
$39,147
All Other Contributions
$51,835
Change in Net Assets
$57,262

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,762,410
Total Revenue per Audited Statements
$1,762,410
Total Revenue per Form 990
$1,762,410
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,320,828
Other Expenses$384,320
Total Fundraising Expense$21,367
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,193,487$25,737$15,514$1,234,738
Occupancy$166,482$18,498-$184,980
Current Officers, Directors, Trustees, and Key Employees$40,000$40,000-$80,000
Fees for Services Accounting$31,178$18,187$2,598$51,963
Depreciation Depletion$16,039$1,782-$17,821
Insurance$13,730$1,292$1,131$16,153
Office Expenses$8,619$892$397$9,908
Advertising$6,991$723$322$8,036
Other Employee Benefits$5,714$304$72$6,090
All Other Expenses$4,680$392$955$6,027
Interest$3,715$413-$4,128
Other Expenses$2,948$305$135$3,388
Fees for Services Other$1,799$1,049$149$2,997
Fees for Services Legal$936$546$79$1,561
Travel$323$34$15$372
Total Functional Expenses$1,573,627$110,154$21,367$1,705,148

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,705,148
Total Expenses per Audited Statements$1,705,148
Total Expenses per Form 990$1,705,148
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$39,700
Fundraising Direct Expenses$728
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Spring Gala$39,700$39,700$728$38,972
Total Events$39,700$39,700$728$38,972
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
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

The board of directors are given the opportunity to review the return and obtain needed information from the preparer prior to filing. Any necessary changes are made before being approved by the board of directors.

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

Direcotrs and officers are required to disclose any conflicts of interest arising during the year. Directors regularly review the policy and make inquiries to ensure compliance.

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

The board of directors reviews and determines the salaries for the principal using comparability data and retains contemporaneous substantiation of the deliberation and decision making process.

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

The board of directors reviews and determines salaries for other officers or key employees using comparability data and retains contemporaneous substantiation of the deliberation and decision making process.

Form 990, Page 6, Part VI, Line 19

The organization makes all forms and governing documents available on request.

Filing and Contact Details

Filer

Filer Name
The Classical Academy of
EIN
46-3754462
Phone
9419252153
Address
8751 FRUITVILLE RD, SARASOTA, FL 34240

Signing Officer

Name
Joseph Penge
Title
Treasurer
Phone
9419252153
Signed
2018-12-17

Organization Details

Principal Officer
David Sugar
Formed
2013
Legal Domicile
Fl
Voting Board Members
4
Independent Board Members
4
Employees
36
Volunteers
80

Preparer

Firm
Pellegrino & Mcfarland Pa
Address
1800 2ND ST STE 720, SARASOTA, FL 34236-5966
Preparer
Thomas V Pellegrino Jr
Phone
9413651172
Raw XML Appendix395 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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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01705148
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE CLASSICAL ACADEMY RUNS ADS IN LOCAL PRINT MEDIA OUTLINING IT'S NON-DISCRIMINATORY POLICIES.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES STUDENT ASSISTANCE FROM THE FLORIDA PROGRAMS "STEP UP FOR STUDENTS- AND THE JOHN MCKAY SCHLARSHIPS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, LINE 6
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0728
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0SPRING GALA
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt039700
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt039700
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt039700
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt039700
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt038972
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt0728
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt0728
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS ARE GIVEN THE OPPORTUNITY TO REVIEW THE RETURN AND OBTAIN NEEDED INFORMATION FROM THE PREPARER PRIOR TO FILING. ANY NECESSARY CHANGES ARE MADE BEFORE BEING APPROVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECOTRS AND OFFICERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ARISING DURING THE YEAR. DIRECTORS REGULARLY REVIEW THE POLICY AND MAKE INQUIRIES TO ENSURE COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF DIRECTORS REVIEWS AND DETERMINES THE SALARIES FOR THE PRINCIPAL USING COMPARABILITY DATA AND RETAINS CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION MAKING PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS REVIEWS AND DETERMINES SALARIES FOR OTHER OFFICERS OR KEY EMPLOYEES USING COMPARABILITY DATA AND RETAINS CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION MAKING PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ALL FORMS AND GOVERNING DOCUMENTS AVAILABLE ON REQUEST.
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
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0603500
IRS990/TotalAssetsEOYAmt0990024
IRS990/TotalAssetsGrp/BOYAmt0603500
IRS990/TotalAssetsGrp/EOYAmt0990024
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt051835
IRS990/TotalEmployeeCnt036
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt021367
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0110154
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01573627
IRS990/TotalFunctionalExpensesGrp/TotalAmt01705148
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0195013
IRS990/TotalLiabilitiesEOYAmt0591287
IRS990/TotalLiabilitiesGrp/BOYAmt0195013
IRS990/TotalLiabilitiesGrp/EOYAmt0591287
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0408487
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0398737
IRS990/TotalProgramServiceExpensesAmt01573627
IRS990/TotalProgramServiceRevenueAmt01670372
IRS990/TotalRevenueGrp/ExclusionAmt01056
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01670547
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01762410
IRS990/TotalVolunteersCnt080
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0603500
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0990024
IRS990/TravelGrp/FundraisingAmt015
IRS990/TravelGrp/ManagementAndGeneralAmt034
IRS990/TravelGrp/ProgramServicesAmt0323
IRS990/TravelGrp/TotalAmt0372
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0408487
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0398737
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08751 FRUITVILLE RD
IRS990/USAddress/CityNm0SARASOTA
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd034240
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.TCASARASOTA.COM
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/PersonNm0JOSEPH PENGE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09419252153
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-12-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE CLASSICAL ACADEMY OF
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0SARASOTA INC
ReturnHeader/Filer/BusinessNameControlTxt0CLAS
ReturnHeader/Filer/EIN0463754462
ReturnHeader/Filer/PhoneNum09419252153
ReturnHeader/Filer/USAddress/AddressLine1Txt08751 FRUITVILLE RD
ReturnHeader/Filer/USAddress/CityNm0SARASOTA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd034240
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId059F3E791A73E2B9452DF82396DEBD5A040B9811E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId059F3E791A73E2B9452DF82396DEBD5A040B9811E
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt071.101.221.50
ReturnHeader/FilingSecurityInformation/IPDt02019-04-23
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm014:09:05
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0650344872
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PELLEGRINO & MCFARLAND PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01800 2ND ST STE 720
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SARASOTA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0342365966
ReturnHeader/PreparerPersonGrp/PhoneNum09413651172
ReturnHeader/PreparerPersonGrp/PreparationDt02018-12-18
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0THOMAS V PELLEGRINO JR
ReturnHeader/ReturnTs02019-04-23T14:09:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

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.$10.1$4.56$5.52$10.7$9.50$1.15
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.1$5.72$4.36$7.67$7.97$0.30
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.1$6.41$4.67$8.20$5.00$3.20
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.88$1.42$1.46$3.84$3.05$0.78
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.69$0.65$2.53$2.37$0.17
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.04$0.55$0.49$2.02$1.93$0.09
2018Detailed filing. Detailed filing data is available for this year.$0.99$0.59$0.40$1.76$1.71$0.06
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.60$0.20$0.41$1.77$1.50$0.27
2016Detailed filing. Detailed filing data is available for this year.$1.76$1.58$0.17$1.53$1.50$0.03
2015Summary only. Only limited summary data is available for this year.$0.39$0.00$0.39$0.62$0.45$0.17
2014Summary only. Only limited summary data is available for this year.$0.23$0.00$0.23$0.64$0.42$0.22
2013Summary only. Only limited summary data is available for this year.$0.01$0.00$0.01$0.00$0.01