Civic Intelligence

Eugene M Cole Foundation-Trust

990 • Fiscal year 2023 • EIN 56-6002294

Dec 01, 2022 to Nov 30, 2023 • Filed on Apr 04, 2024

Organization ProfileN/A
13816 Professional Ctr Dr 100Huntersville, NC 28078

(888) 450-1956

Siviq Scores

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

Liabilities / Assets

31st percentile

0.00x

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

2023 filings • NTEE X • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

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

2023 filings • NTEE X • $1M-$5M nonprofits • Source year 2023

Net Margin

32nd percentile

-0.1%

Higher net margin than 32% of similar nonprofits.

2023 filings • NTEE X • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

60th percentile

$0

Higher top officer pay than 60% of similar nonprofits.

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

2023 filings • NTEE X • $1M-$5M nonprofits • Source year 2023

Asset Growth

36th percentile

-0.0%

Faster asset growth than 36% of similar nonprofits.

2023 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

21st percentile

-22%

Faster revenue growth than 21% of similar nonprofits.

2023 filings • NTEE X • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets31st percentile

Assets

Down

$3,434,595

Down $127 (-0.0%) from 2022

Net Assets

Down

$3,434,595

Down $127 (-0.0%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin32nd percentile

Revenue

Down

$220,472

Down $60,904 (-22%) from 2022

Expenses

Down

$220,599

Down $20,556 (-8.5%) from 2022

Net Income

Down

-$127

Down $40,348 (-100%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $3,543,104Liabilities 2011: $0Net Assets 2011: $3,543,1042011Assets 2012: $3,481,514Liabilities 2012: $0Net Assets 2012: $3,481,5142012Assets 2013: $3,418,168Liabilities 2013: $0Net Assets 2013: $3,418,1682013Assets 2014: $3,381,814Liabilities 2014: $0Net Assets 2014: $3,381,8142014Assets 2015: $3,336,764Liabilities 2015: $0Net Assets 2015: $3,336,7642015Assets 2016: $3,294,877Liabilities 2016: $0Net Assets 2016: $3,294,8772016Assets 2017: $3,291,020Liabilities 2017: $0Net Assets 2017: $3,291,0202017Assets 2018: $3,339,501Liabilities 2018: $0Net Assets 2018: $3,339,5012018Assets 2019: $3,343,410Liabilities 2019: $0Net Assets 2019: $3,343,4102019Assets 2020: $3,356,528Liabilities 2020: $0Net Assets 2020: $3,356,5282020Assets 2021: $3,394,501Liabilities 2021: $0Net Assets 2021: $3,394,5012021Assets 2022: $3,434,722Liabilities 2022: $0Net Assets 2022: $3,434,7222022Assets 2023: $3,434,595Liabilities 2023: $0Net Assets 2023: $3,434,5952023Assets 2024: $3,477,933Liabilities 2024: $0Net Assets 2024: $3,477,9332024

Highlighted filing

2023

Assets$3,434,595
Liabilities$0
Net Assets$3,434,595
Open 2023 Filing

Operations Trend

Revenue Growth21st percentile

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

$300K$200K$100K$0-$100KRevenue 2011: $73,592Expenses 2011: $153,228Net Income 2011: -$79,6362011Revenue 2012: $98,880Expenses 2012: $160,470Net Income 2012: -$61,5902012Revenue 2013: $104,804Expenses 2013: $168,150Net Income 2013: -$63,3462013Revenue 2014: $144,574Expenses 2014: $180,928Net Income 2014: -$36,3542014Revenue 2015: $149,823Expenses 2015: $194,873Net Income 2015: -$45,0502015Revenue 2016: $159,754Expenses 2016: $201,641Net Income 2016: -$41,8872016Revenue 2017: $172,375Expenses 2017: $176,232Net Income 2017: -$3,8572017Revenue 2018: $221,369Expenses 2018: $172,888Net Income 2018: $48,4812018Revenue 2019: $211,293Expenses 2019: $207,384Net Income 2019: $3,9092019Revenue 2020: $214,931Expenses 2020: $201,813Net Income 2020: $13,1182020Revenue 2021: $247,616Expenses 2021: $209,643Net Income 2021: $37,9732021Revenue 2022: $281,376Expenses 2022: $241,155Net Income 2022: $40,2212022Revenue 2023: $220,472Expenses 2023: $220,599Net Income 2023: -$1272023Revenue 2024: $264,073Expenses 2024: $220,735Net Income 2024: $43,3382024

Highlighted filing

2023

Revenue$220,472
Expenses$220,599
Net Income-$127
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Dec 1, 2022 to Nov 30, 2023
Signed
Apr 4, 2024
Return Version
2022v5.0
Gross Receipts
$343,063
Mission and Program Overview

Mission

NONE

Provide aid to superannuated united methodist ministers of western north carolina. Funds are disbursed monthly for their support to help meet the cost of group health insurance provided through the western north carolina conference of the united methodist church.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$3,434,721$3,434,593▼ $128
Cap Stk Tr Prin Current Funds$3,339,501$3,339,501→ $0
Rtn Earn Endowment Incm Other Fnds$95,221$95,094▼ $127
Cash and Non-Interest-Bearing Accounts$1$2▲ $1
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Total Assets$3,434,722$3,434,595▼ $127
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,434,722$3,434,595▼ $127
Total Liabilities and Net Assets / Fund Balance$3,434,722$3,434,595▼ $127

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$3,434,593--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$3,434,721-▲ $220,471-$3,434,593
2021$3,394,500-▲ $281,376-$3,434,721
2020$3,356,527-▲ $247,616-$3,394,500
2019$3,343,409$56▲ $214,875-$3,356,527
2018$3,339,501$57▲ $211,235-$3,343,409
Compensation and Service Providers
Top Officer Pay60th percentile

Board Members and Trustees

NameTitle
R Tony OrsbonTrustee
Rebecca DouglasTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$220,472
Other Revenue
$0
Change in Net Assets
$-127
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$193,683
Other Expenses$26,916
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$193,683--$193,683
Fees for Service Investment Mgmnt Fees-$26,916-$26,916
Total Functional Expenses$193,683$26,916$0$220,599
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Western Nc Conference United Methodist ChurchHuntersville, NC501(c)(3)-churchHealth Benefits$193,683
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

“The cole foundation provides a completed copy of this return to r. Anthony orsbon, trustee, for his review before signing and filing.”

Form 990, Part VI, Section C, Line 19

“The cole foundation makes its records, including governing documents and tax returns, available to the public through the united methodist foundation of western north carolina, inc. Located at 13816 professional center dr., ste 100, huntersville, nc 28078.”

Filing and Contact Details

Filer

Filer Name
Cole Foundation Trust
EIN
56-6002294
Phone
8884501956
Address
13816 PROFESSIONAL CTR DR 100, HUNTERSVILLE, NC 28078

Signing Officer

Name
R Anthony Orsbon
Title
Trustee
Phone
8884501956
Signed
2024-04-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
R Anthony Orsbon
Formed
1994
Legal Domicile
Nc
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
0

Preparer

Firm
United Methodist Fdn of Western Nc Inc
Address
13816 PROFESSIONAL CTR DR STE 100, HUNTERSVILLE, NC 28078
Preparer
Bradley S Crossley CPA
Phone
7048173990
Supplemental Narrative

Financial Statement Notes

PART V, LINE 4:

“These endowment funds are used to supplement the health benefits provided to retired united methodist ministers of the western north carolina conference of the united methodist church.”

Raw XML AppendixShowing 400 of 411 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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IRS990/ActivityOrMissionDesc0PROVIDE AID TO SUPERANNUATED UNITED METHODIST MINISTERS OF WESTERN NORTH CAROLINA. FUNDS ARE DISBURSED MONTHLY FOR THEIR SUPPORT TO HELP MEET THE COST OF GROUP HEALTH INSURANCE PROVIDED THROUGH THE WESTERN NORTH CAROLINA CONFERENCE OF THE UNITED METHODIST CHURCH.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE COLE FOUNDATION REVIEWS THE ANNUAL REPORTING OF THE GRANT RECIPIENT, THE WESTERN NORTH CAROLINA CONFERENCE OF THE UNITED METHODIST CHURCH THROUGH THE JOURNAL PREPARED BY THE CONFERENCE NOTING THE AMOUNT OF THE GRANT RECEIVED AND HOW IT WAS APPLIED. THIS REPORT IS AVAILABLE TO ALL MEMBERS OF THE WESTERN NORTH CAROLINA ANNUAL METHODIST CONFERENCE.
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IRS990ScheduleA/MinimumAssetAmountGrp/CashDeemedCharitableGrp/PriorYearAmt084271
IRS990ScheduleA/MinimumAssetAmountGrp/DiscountClaimedAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/FMVOtherNonExemptUseAssetGrp/CurrentYearAmt00
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IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/CurrentYearAmt05383353
IRS990ScheduleA/MinimumAssetAmountGrp/NetVlNonExemptUseAssetsGrp/PriorYearAmt05533792
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/CurrentYearAmt0188417
IRS990ScheduleA/MinimumAssetAmountGrp/PctOfNetVlNonExemptUseAstGrp/PriorYearAmt0193683
IRS990ScheduleA/MinimumAssetAmountGrp/RecoveriesPYDistriMinAssetGrp/CurrentYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/RecoveriesPYDistriMinAssetGrp/PriorYearAmt00
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/CurrentYearAmt05465333
IRS990ScheduleA/MinimumAssetAmountGrp/TotalFMVOfNonExemptUseAssetGrp/PriorYearAmt05618063
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/CurrentYearAmt0188417
IRS990ScheduleA/MinimumAssetAmountGrp/TotalMinimumAssetGrp/PriorYearAmt0193683
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
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IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd01
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0193683
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0WESTERN NC CONFERENCE UMC
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3NonFuncInd0X
IRS990ScheduleA/SupportSumAmt0193683
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt026916
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt03434721
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt03434593
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt0193683
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt0220471
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt028719
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt03394500
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt03434721
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt0212436
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0281376
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt032256
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt03356527
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt03394500
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt0177387
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0247616
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt027486
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt03343409
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt056
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt03356527
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt0174327
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0214875
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt027488
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt03339501
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt057
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt03343409
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt0179896
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0211235
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt03434593
IRS990ScheduleD/OtherSecuritiesGrp/Desc0UNITED METHODIST FOUNDATION OF WESTERN NC - DIVERSIFIED FUND
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THESE ENDOWMENT FUNDS ARE USED TO SUPPLEMENT THE HEALTH BENEFITS PROVIDED TO RETIRED UNITED METHODIST MINISTERS OF THE WESTERN NORTH CAROLINA CONFERENCE OF THE UNITED METHODIST CHURCH.
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IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt0193683
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)(3)-CHURCH
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt00
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0HEALTH BENEFITS
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IRS990ScheduleI/RecipientTable/RecipientEIN0566001441
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt0PO BOX 2757
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IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0NC
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd028070
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE COLE FOUNDATION REVIEWS THE ANNUAL REPORTING OF THE GRANT RECIPIENT, THE WESTERN NORTH CAROLINA CONFERENCE OF THE UNITED METHODIST CHURCH THROUGH THE JOURNAL PREPARED BY THE CONFERENCE NOTING THE AMOUNT OF THE GRANT RECEIVED AND HOW IT WAS APPLIED. THIS REPORT IS AVAILABLE TO ALL MEMBERS OF THE WESTERN NORTH CAROLINA ANNUAL METHODIST CONFERENCE.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE COLE FOUNDATION PROVIDES A COMPLETED COPY OF THIS RETURN TO R. ANTHONY ORSBON, TRUSTEE, FOR HIS REVIEW BEFORE SIGNING AND FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE COLE FOUNDATION MAKES ITS RECORDS, INCLUDING GOVERNING DOCUMENTS AND TAX RETURNS, AVAILABLE TO THE PUBLIC THROUGH THE UNITED METHODIST FOUNDATION OF WESTERN NORTH CAROLINA, INC. LOCATED AT 13816 PROFESSIONAL CENTER DR., STE 100, HUNTERSVILLE, NC 28078.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt03434722
IRS990/TotalAssetsGrp/EOYAmt03434595
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt026916
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0193683
IRS990/TotalFunctionalExpensesGrp/TotalAmt0220599
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IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
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IRS990/TotalRevenueGrp/ExclusionAmt00
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
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IRS990/UnrelatedBusIncmOverLimitInd00
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ReturnHeader/BusinessOfficerGrp/SignatureDt02024-04-04
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ReturnHeader/Filer/PhoneNum08884501956
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ReturnHeader/Filer/USAddress/CityNm0HUNTERSVILLE
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ReturnHeader/Filer/USAddress/ZIPCd028078
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0UNITED METHODIST FDN OF WESTERN NC INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt013816 PROFESSIONAL CTR DR STE 100
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0HUNTERSVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,434,595
Liabilities
$0
Net assets
$3,434,595
Revenue
$220,472
Expenses
$220,599
Net income
-$127
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.48$0.00$3.48$0.26$0.22$0.04
2023Detailed filing. Detailed filing data is available for this year.$3.43$0.00$3.43$0.22$0.22$0.00
2022Detailed filing. Detailed filing data is available for this year.$3.43$0.00$3.43$0.28$0.24$0.04
2021Detailed filing. Detailed filing data is available for this year.$3.39$0.00$3.39$0.25$0.21$0.04
2020Detailed filing. Detailed filing data is available for this year.$3.36$0.00$3.36$0.21$0.20$0.01
2019Summary only. Only limited summary data is available for this year.$3.34$0.00$3.34$0.21$0.21$0.00
2018Summary only. Only limited summary data is available for this year.$3.34$0.00$3.34$0.22$0.17$0.05
2017Summary only. Only limited summary data is available for this year.$3.29$0.00$3.29$0.17$0.18$0.00
2016Summary only. Only limited summary data is available for this year.$3.29$0.00$3.29$0.16$0.20$0.04
2015Summary only. Only limited summary data is available for this year.$3.34$0.00$3.34$0.15$0.19$0.05
2014Summary only. Only limited summary data is available for this year.$3.38$0.00$3.38$0.14$0.18$0.04
2013Summary only. Only limited summary data is available for this year.$3.42$0.00$3.42$0.10$0.17$0.06
2012Summary only. Only limited summary data is available for this year.$3.48$0.00$3.48$0.10$0.16$0.06
2011Summary only. Only limited summary data is available for this year.$3.54$0.00$3.54$0.07$0.15$0.08