Civic Intelligence

D C S Different Drummers

990 • Fiscal year 2017 • EIN 52-1224497

Aug 01, 2016 to Jul 31, 2017 • Filed on Jan 30, 2018

PO Box 57099Washington, DC 20037

(202) 403-3669

Siviq Scores

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

Liabilities / Assets

67th percentile

0.03x

Higher debt load relative to assets than 67% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

66th percentile

0.02x

Higher debt load relative to revenue than 66% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

94th percentile

58%

Higher net margin than 94% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2017

Asset Growth

70th percentile

18%

Faster asset growth than 70% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

95th percentile

146%

Faster revenue growth than 95% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$85,982

Up $13,022 (+18%) from 2016

Net Assets

Up

$83,539

Up $17,755 (+27%) from 2016

Liabilities

Down

$2,443

Down $4,733 (-66%) from 2016

Revenue

Up

$154,803

Up $91,858 (+146%) from 2016

Expenses

Up

$64,508

Up $2,843 (+4.6%) from 2016

Net Income

Up

$90,295

Up $89,015 (+6954%) from 2016

Historical Trend

Balance Sheet Trend

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

$400K$300K$200K$100K$0Assets 2011: $27,072Liabilities 2011: $2,252Net Assets 2011: $24,8202011Assets 2012: $66,452Liabilities 2012: $5,569Net Assets 2012: $60,8832012Assets 2013: $61,519Liabilities 2013: $4,424Net Assets 2013: $57,0952013Assets 2014: $69,948Liabilities 2014: $3,172Net Assets 2014: $66,7762014Assets 2015: $64,110Liabilities 2015: $2,676Net Assets 2015: $61,4342015Assets 2016: $72,960Liabilities 2016: $7,176Net Assets 2016: $65,7842016Assets 2017: $85,982Liabilities 2017: $2,443Net Assets 2017: $83,5392017Assets 2018: $42,122Liabilities 2018: $3,327Net Assets 2018: $38,7952018Assets 2019: $132,544Liabilities 2019: $716Net Assets 2019: $131,8282019Assets 2020: $144,532Liabilities 2020: $1,694Net Assets 2020: $142,8382020Assets 2021: $139,963Liabilities 2021: $1,365Net Assets 2021: $138,5982021Assets 2022: $156,293Liabilities 2022: $1,369Net Assets 2022: $154,9242022Assets 2023: $183,259Liabilities 2023: $1,218Net Assets 2023: $182,0412023Assets 2025: $399,222Liabilities 2025: $7,525Net Assets 2025: $391,6972025

Highlighted filing

2017

Assets$85,982
Liabilities$2,443
Net Assets$83,539

Operations Trend

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

$200K$100K$0-$100KRevenue 2011: $74,122Expenses 2011: $71,249Net Income 2011: $2,8732011Revenue 2012: $113,324Expenses 2012: $77,261Net Income 2012: $36,0632012Revenue 2013: $67,216Expenses 2013: $68,848Net Income 2013: -$1,6322013Revenue 2014: $70,246Expenses 2014: $61,817Net Income 2014: $8,4292014Revenue 2015: $59,386Expenses 2015: $62,256Net Income 2015: -$2,8702015Revenue 2016: $62,945Expenses 2016: $61,665Net Income 2016: $1,2802016Revenue 2017: $154,803Expenses 2017: $64,508Net Income 2017: $90,2952017Revenue 2018: $60,489Expenses 2018: $62,247Net Income 2018: -$1,7582018Revenue 2019: $92,507Expenses 2019: $75,974Net Income 2019: $16,5332019Revenue 2020: $84,264Expenses 2020: $73,574Net Income 2020: $10,6902020Revenue 2021: $61,146Expenses 2021: $65,386Net Income 2021: -$4,2402021Revenue 2022: $100,118Expenses 2022: $83,792Net Income 2022: $16,3262022Revenue 2023: $195,881Expenses 2023: $167,161Net Income 2023: $28,7202023Revenue 2025: $181,941Expenses 2025: $173,184Net Income 2025: $8,7572025

Highlighted filing

2017

Revenue$154,803
Expenses$64,508
Net Income$90,295
Jump To
Filing Snapshot
Filing Period
Aug 1, 2016 to Jul 31, 2017
Signed
Jan 30, 2018
Return Version
2016v3.0
Gross Receipts
$154,803
Mission and Program Overview

Mission

Provide a welcoming & supportive social environment for members to work together & present quality musical programming that entertains, educates, inspires, & challenges the audience & members alike.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$72,960$85,982▲ $13,022
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$72,960$85,982▲ $13,022
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$7,176$2,443▼ $4,733
Total Liabilities$7,176$2,443▼ $4,733
Net Assets / Fund Balance
Unrestricted Net Assets$65,784$83,539▲ $17,755
Total Net Assets Fund Balance$65,784$83,539▲ $17,755
Total Liabilities and Net Assets / Fund Balance$72,960$85,982▲ $13,022
Compensation and Service Providers

Board Members and Trustees

NameTitle
Bruce Herr JrPresident
Larry WilesVice President
Adam SulewskiDirector
David HarperDirector
Jim PalmerDirector
Justin HentgesDirector
William DenisonDirector
K Sarah OstrachSecretary
Keith GlaeskeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$132,481
Program Service Revenue
$15,586
Investment Income
$0
Other Revenue
$6,736
All Other Contributions
$113,384
Change in Net Assets
$90,295
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$64,508
Total Fundraising Expense$1,105
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$8,081$2,171-$10,252
Other Expenses$6,965$4,533-$6,965
Occupancy$5,238--$5,238
Advertising$862$1,723$862$3,447
Insurance$1,699$484$243$2,426
Office Expenses$1,098--$1,098
Total Functional Expenses$54,492$8,911$1,105$64,508
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
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, Line 11B: Form 990 Review Process

A copy of the form 990 is given to all board members. After all questions are answered, the form 990 is filed.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

No documents available to the public.

Filing and Contact Details

Filer

Filer Name
Dcs Different Drummers
EIN
52-1224497
Phone
2024033669
Address
PO BOX 57099, WASHINGTON, DC 20037

Signing Officer

Name
Keith Glaeske
Title
Treasurer
Signed
2018-01-30
Discuss with paid preparer
Yes

Organization Details

Formed
1980
Legal Domicile
Dc
Voting Board Members
9
Independent Board Members
9
Employees
0
Volunteers
35

Preparer

Firm
John J Wall CPA
Address
7915 Lake Manassas Drive Ste 303, Gainesville, VA 20155
Preparer
John J Wall
Phone
5712482860
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E: Other Expenses

BAND DEVELOPMENT: Column (A) - Total = $5653; Column (B) - Program Services = $5653; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

MISCELLANEOUS: Column (A) - Total = $2428; Column (B) - Program Services = $2428; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Printing and Publications: Column (A) - Total = $163; Column (B) - Program Services = $0; Column (C) - Management & General = $163; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

PROFESSIONAL FEES: Column (A) - Total = $1650; Column (B) - Program Services = $0; Column (C) - Management & General = $1650; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

PROFESSIONAL MEMBERSHIPS: Column (A) - Total = $358; Column (B) - Program Services = $0; Column (C) - Management & General = $358; Column (D) - Fundraising = $0

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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/PriorPeriodAdjustmentsAmt0-72540
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0PERFORMANCES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt015586
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt015586
IRS990/ProgSrvcAccomActy2Grp/Desc0SWING BAND THAT PROVIDES MUSICAL TALENTFOR LGBT COMMUNITY AND GENERAL WASHINGTON, DC AREA COMMUNITY EVENTS, THAT EDUCATE AND PROVIDE PERFORMING OPPORTUNITIES FOR PARTICIPANTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt02020
IRS990/ProgSrvcAccomActy3Grp/Desc0SYMPHONIC BAND THAT PROVIDES MUSICAL TALENT FOR GAY COMMUNITY AND GENERAL WASHINGTON, DC AREA COMMUNITY EVENTS, THAT EDUCATE AND PROVIDE PERFORMING OPPORTUNITIES FOR PARTICIPANTS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0709
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt041570
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt061665
IRS990/PYOtherRevenueAmt05020
IRS990/PYProgramServiceRevenueAmt016355
IRS990/PYRevenuesLessExpensesAmt01280
IRS990/PYTotalExpensesAmt061665
IRS990/PYTotalRevenueAmt062945
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt090295
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0132481
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt041570
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt042651
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt055086
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt046757
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0318545
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt015586
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt016355
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt016144
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt015160
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt019828
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt083073
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearAmt06736
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus1YearAmt05020
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0591
IRS990ScheduleA/OtherIncome509Grp/TotalAmt012347
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.97020
IRS990ScheduleA/PublicSupportPY509Pct00.98480
IRS990ScheduleA/PublicSupportTotal509Amt0401618
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0148067
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt057925
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt058795
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt070246
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt066585
IRS990ScheduleA/Total509Grp/TotalAmt0401618
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0154803
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt062945
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt059386
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt070246
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt066585
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0413965
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS GIVEN TO ALL BOARD MEMBERS. AFTER ALL QUESTIONS ARE ANSWERED, THE FORM 990 IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BAND DEVELOPMENT: Column (A) - Total = $5653; Column (B) - Program Services = $5653; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MISCELLANEOUS: Column (A) - Total = $2428; Column (B) - Program Services = $2428; Column (C) - Management & General = $0; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Printing and Publications: Column (A) - Total = $163; Column (B) - Program Services = $0; Column (C) - Management & General = $163; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5PROFESSIONAL FEES: Column (A) - Total = $1650; Column (B) - Program Services = $0; Column (C) - Management & General = $1650; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PROFESSIONAL MEMBERSHIPS: Column (A) - Total = $358; Column (B) - Program Services = $0; Column (C) - Management & General = $358; Column (D) - Fundraising = $0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part IX, Line 24e: Other Expenses
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 24e: Other Expenses
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 24e: Other Expenses
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 24e: Other Expenses
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e: Other Expenses
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt072960
IRS990/TotalAssetsEOYAmt085982
IRS990/TotalAssetsGrp/BOYAmt072960
IRS990/TotalAssetsGrp/EOYAmt085982
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0132481
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt01105
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt08911
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt054492
IRS990/TotalFunctionalExpensesGrp/TotalAmt064508
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt07176
IRS990/TotalLiabilitiesEOYAmt02443
IRS990/TotalLiabilitiesGrp/BOYAmt07176
IRS990/TotalLiabilitiesGrp/EOYAmt02443
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt065784
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt083539
IRS990/TotalProgramServiceExpensesAmt054492
IRS990/TotalProgramServiceRevenueAmt015586
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt022322
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0154803
IRS990/TotalVolunteersCnt035
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt072960
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt085982
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt065784
IRS990/UnrestrictedNetAssetsGrp/EOYAmt083539
IRS990/VotingMembersGoverningBodyCnt09

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.99$0.08$3.92$1.82$1.73$0.09
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.83$0.01$1.82$1.96$1.67$0.29
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.56$0.01$1.55$1.00$0.84$0.16
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.40$0.01$1.39$0.61$0.65$0.04
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.45$0.02$1.43$0.84$0.74$0.11
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.33$0.01$1.32$0.93$0.76$0.17
2018Summary only. Only limited summary data is available for this year.$0.42$0.03$0.39$0.60$0.62$0.02
2017Detailed filing. Detailed filing data is available for this year.$0.86$0.02$0.84$1.55$0.65$0.90
2016Summary only. Only limited summary data is available for this year.$0.73$0.07$0.66$0.63$0.62$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.64$0.03$0.61$0.59$0.62$0.03
2014Summary only. Only limited summary data is available for this year.$0.70$0.03$0.67$0.70$0.62$0.08
2013Summary only. Only limited summary data is available for this year.$0.62$0.04$0.57$0.67$0.69$0.02
2012Summary only. Only limited summary data is available for this year.$0.66$0.06$0.61$1.13$0.77$0.36
2011Summary only. Only limited summary data is available for this year.$0.27$0.02$0.25$0.74$0.71$0.03