Civic Intelligence

Hendrix College

990 • Fiscal year 2025 • EIN 71-0236897

Jun 01, 2024 to May 31, 2025

1600 Washington AvenueConway, AR 72032

(501) 450-1333

Siviq Scores

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

Liabilities / Assets

63rd percentile

0.29x

Higher debt load relative to assets than 63% of similar nonprofits.

2025 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2025

Liabilities / Revenue

77th percentile

1.04x

Higher debt load relative to revenue than 77% of similar nonprofits.

2025 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2025

Net Margin

62nd percentile

12%

Higher net margin than 62% of similar nonprofits.

2025 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2025

Top Officer Pay

22nd percentile

$377,603

Higher top officer pay than 22% of similar nonprofits.

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

2025 filings • 501(c)3 • $250M-$1B nonprofits • Source year 2025

Asset Growth

24th percentile

1.7%

Faster asset growth than 24% of similar nonprofits.

2025 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2024 to 2025

Revenue Growth

23rd percentile

-1.5%

Faster revenue growth than 23% of similar nonprofits.

2025 filings • 501(c)3 • $250M-$1B nonprofits • Annualized from 2024 to 2025

Assets

Up

$313,900,422

Up $5,353,583 (+1.7%) from 2024

Net Assets

Up

$222,410,385

Up $11,234,055 (+5.3%) from 2024

Liabilities

Down

$91,490,037

Down $5,880,472 (-6.0%) from 2024

Revenue

Down

$87,950,277

Down $1,297,970 (-1.5%) from 2024

Expenses

Down

$77,239,942

Down $6,329,124 (-7.6%) from 2024

Net Income

Up

$10,710,335

Up $5,031,154 (+89%) from 2024

Historical Trend

Balance Sheet Trend

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

$400M$300M$200M$100M$0Assets 2010: $265,881,809Liabilities 2010: $93,713,989Net Assets 2010: $172,167,8202010Assets 2011: $279,119,876Liabilities 2011: $89,353,960Net Assets 2011: $189,765,9162011Assets 2012: $260,759,645Liabilities 2012: $88,106,278Net Assets 2012: $172,653,3672012Assets 2013: $282,731,448Liabilities 2013: $99,341,970Net Assets 2013: $183,389,4782013Assets 2014: $289,318,735Liabilities 2014: $101,621,282Net Assets 2014: $187,697,4532014Assets 2015: $308,593,311Liabilities 2015: $106,810,320Net Assets 2015: $201,782,9912015Assets 2016: $293,571,394Liabilities 2016: $103,749,278Net Assets 2016: $189,822,1162016Assets 2017: $303,310,391Liabilities 2017: $106,486,166Net Assets 2017: $196,824,2252017Assets 2018: $321,611,581Liabilities 2018: $112,282,122Net Assets 2018: $209,329,4592018Assets 2019: $305,337,825Liabilities 2019: $115,130,330Net Assets 2019: $190,207,4952019Assets 2020: $295,762,226Liabilities 2020: $119,636,275Net Assets 2020: $176,125,9512020Assets 2021: $336,428,695Liabilities 2021: $116,194,665Net Assets 2021: $220,234,0302021Assets 2022: $318,329,586Liabilities 2022: $106,184,162Net Assets 2022: $212,145,4242022Assets 2023: $300,216,797Liabilities 2023: $100,238,591Net Assets 2023: $199,978,2062023Assets 2024: $308,546,839Liabilities 2024: $97,370,509Net Assets 2024: $211,176,3302024Assets 2025: $313,900,422Liabilities 2025: $91,490,037Net Assets 2025: $222,410,3852025

Highlighted filing

2025

Assets$313,900,422
Liabilities$91,490,037
Net Assets$222,410,385

Operations Trend

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

$150M$100M$50M$0-$50MExpenses 2010: $65,351,1092010Revenue 2011: $73,739,924Expenses 2011: $73,341,186Net Income 2011: $398,7382011Expenses 2012: $74,558,5312012Revenue 2013: $71,708,703Expenses 2013: $81,115,732Net Income 2013: -$9,407,0292013Revenue 2014: $80,789,073Expenses 2014: $85,840,904Net Income 2014: -$5,051,8312014Revenue 2015: $105,177,448Expenses 2015: $90,794,330Net Income 2015: $14,383,1182015Revenue 2016: $81,085,346Expenses 2016: $85,021,055Net Income 2016: -$3,935,7092016Revenue 2017: $81,828,622Expenses 2017: $90,365,077Net Income 2017: -$8,536,4552017Revenue 2018: $100,615,476Expenses 2018: $88,973,364Net Income 2018: $11,642,1122018Revenue 2019: $94,138,967Expenses 2019: $90,979,112Net Income 2019: $3,159,8552019Revenue 2020: $79,351,340Expenses 2020: $84,297,121Net Income 2020: -$4,945,7812020Revenue 2021: $88,969,197Expenses 2021: $87,517,067Net Income 2021: $1,452,1302021Revenue 2022: $98,419,951Expenses 2022: $87,649,795Net Income 2022: $10,770,1562022Revenue 2023: $97,458,898Expenses 2023: $84,270,905Net Income 2023: $13,187,9932023Revenue 2024: $89,248,247Expenses 2024: $83,569,066Net Income 2024: $5,679,1812024Revenue 2025: $87,950,277Expenses 2025: $77,239,942Net Income 2025: $10,710,3352025

Highlighted filing

2025

Revenue$87,950,277
Expenses$77,239,942
Net Income$10,710,335
Jump To
Filing Snapshot
Filing Period
Jun 1, 2024 to May 31, 2025
Signed
Apr 13, 2026
Return Version
2024v5.0
Gross Receipts
$288,940,923
Mission and Program Overview

Mission

Hendrix College cultivates empathy, creativity, self-understanding, rigorous inquiry, informed deliberation, and active learning across the liberal arts, toward the development of the whole person. Through engagement that links the classroom with the world, and a commitment to diversity, inclusion, justice, and sustainable living, the Hendrix community inspires students to lead lives of accomplishment, integrity, service, and joy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$167,950,006$173,733,613▲ $5,783,607
Land, Buildings, and Equipment, Net$123,036,702$119,386,628▼ $3,650,074
Pledges and Grants Receivable$2,618,339$13,278,939▲ $10,660,600
Savings and Temporary Cash Investments$10,230,183$2,638,709▼ $7,591,474
Accounts Receivable$775,604$599,647▼ $175,957
Other Notes and Loans Receivable, Net$57,996$50,581▼ $7,415
Cash and Non-Interest-Bearing Accounts$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$308,546,839$313,900,422▲ $5,353,583
Other Assets Total$3,878,009$4,212,305▲ $334,296
Liabilities
Tax Exempt Bond Liabilities$51,627,676$49,491,440▼ $2,136,236
Mortgage Notes Payable Secured by Investment Property$21,336,231$20,090,049▼ $1,246,182
Other Liabilities$15,554,337$12,519,322▼ $3,035,015
Accounts Payable and Accrued Expenses$8,852,265$9,389,226▲ $536,961
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Total Liabilities$97,370,509$91,490,037▼ $5,880,472
Net Assets / Fund Balance
Net Assets With Donor Restrictions$150,024,872$162,164,750▲ $12,139,878
Net Assets Without Donor Restrictions$61,151,458$60,245,635▼ $905,823
Total Net Assets Fund Balance$211,176,330$222,410,385▲ $11,234,055
Total Liabilities and Net Assets / Fund Balance$308,546,839$313,900,422▲ $5,353,583

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$114,070,357$74,507,679$188,578,036
Equipment$3,456,782$20,974,702$24,431,484
Other Land Buildings$1,063,156$9,710,860$10,774,016
Land$796,333-$796,333
Leasehold Improvements$0$0$0
Other Securities$173,733,613--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$173,916,073$2,030,992▲ $8,397,143$0$171,619,208
2023$163,009,053$5,892,184▲ $22,314,836$0$173,916,073
2022$178,858,974$732,444▲ $2,517,635$0$163,009,053
2021$193,112,235$724,493▼ $4,252,754$0$178,858,974
2020$146,656,044$10,947,577▲ $52,344,999$0$193,112,235
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen PetersenPresidentFT$377,603$36,549$414,152
Kesha BaouaVP for Diversity and InclusionFT$200,000-$200,000
Terri BonebrightProfessorFT$175,420$22,701$198,121
Meredith BrunenVP for AdvancementFT$155,182$20,881$176,063
Bernadette HinkleVP for Finance and CFOFT$128,983-$128,983
Sam NicholsVP for Technology ServicesFT$127,734-$127,734
Vicki LynnVP of Human ResourcesFT$127,380-$127,380
Amy WeaverDirector of AthleticsFT$127,207-$127,207
David SutherlandProvost & Dean of the CollegeFT$122,342-$122,342
Teresa GarrettProvost and Dean of the CollegeFT$108,737-$108,737

Highest Paid Contractors

ContractorServicesLocationCompensation
Conway CorporationElectrical Services1307 Prairie Street, Conway, AR 72034$1,929,113
US FoodserviceFood Supplier9399 W Higgins Road, Rosemont, IL 60018$967,309
USABLE Mutual InsuranceHealth and Dental Premiums320 W Capitol Avenue, Little Rock, AR 72201$907,949
First Horizon BankFinancial Services165 Madison Avenue, Memphis, TN 38103$543,297
Frist American EquipmentEquipment Leasing211 High Point Drive, Victor, NY 14564$435,964
Revenue and Support

Revenue Composition

Contributions and Grants
$17,500,059
Program Service Revenue
$58,003,119
Investment Income
$9,755,913
Other Revenue
$2,691,186
All Other Contributions
$16,614,703
Change in Net Assets
$10,710,335

Audited Revenue Reconciliation

Revenue per Audited Statements
$58,326,610
Revenue Not Reported on Financial Statements
$29,623,667
Revenue Not Reported on Form 990
$3,735,946
Other Revenue Adjustments
$29,233,970
Total Revenue per Audited Statements
$62,062,556
Total Revenue per Form 990
$87,950,277
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$30,614,471
Salaries, Compensation, and Employee Benefits$24,379,013
Other Expenses$22,246,458
Total Fundraising Expense$1,020,932
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$30,614,471--$30,614,471
Other Salaries and Wages$12,764,448$5,519,713$630,586$18,914,747
All Other Expenses$2,099,482$4,502,827$162,697$6,765,006
Depreciation Depletion$4,805,518$481,222$47,547$5,334,287
Interest-$3,054,977-$3,054,977
Occupancy$1,913,560$262,137-$2,175,697
Other Employee Benefits$1,140,970$842,684$56,858$2,040,512
Payroll Taxes$932,091$435,009$54,479$1,421,579
Travel$1,215,359$63,393$14,703$1,293,455
Office Expenses$839,415$425,042$10,797$1,275,254
Current Officers, Directors, Trustees, and Key Employees-$1,230,224-$1,230,224
Insurance-$794,091-$794,091
Information Technology-$776,606-$776,606
Pension Plan Contributions$514,948$231,200$25,803$771,951
Fees for Service Investment Mgmnt Fees-$389,697-$389,697
Conferences and Meetings$104,080$16,642$17,195$137,917
Advertising$7,215$108,986$267$116,468
Fees for Services Accounting-$102,982-$102,982
Fees for Services Legal-$30,021-$30,021
Total Functional Expenses$56,951,557$19,267,453$1,020,932$77,239,942

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$77,239,942
Total Expenses per Audited Statements$49,117,014
Expenses per Audited Statements$47,616,275
Expenses Not Reported on Financial Statements$29,623,667
Other Expense Adjustments$29,233,970
Expenses Not Reported on Form 990$1,500,739
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$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
Accrued postretirement benefits$10,523,922
Annuities Payable$1,995,400

Bond Issues

BondIssuerIssuedIssue PricePurpose
AArkansas Development Finance Authority2012-08-07$45,030,066Refinance Existing Debt and Capital Improvements
BArkansas Development Finance Authority2016-09-01$23,160,825Refinance Existing Debt

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$45,270,000$0$34,518,374$477,110
B$22,330,000$0$6,153,638$232,169

Bond Financing Compliance

Form 8038-T filed
Yes
Gross proceeds invested
No
Gross proceeds invested in GIC
No
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
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, Part VI, Section B, Line 11B

The 990 will be reviewed by the College President, the Chief Financial Officer, the Chair of the Board, and the Chair of the Finance Committee. Once it has been approved and filed, the return will be provided to the Board of Trustees.

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

The Board of Trustees provides a list of related interests that could rise to a conflict of interest. The Business Office will review these along with the accounts payable records to determine if any transactions occurred that need to be disclosed.

Form 990, Part VI, Section B, Line 15

For other top executives and officers, the President consults benchmarking information and consults with the Chief Human Resources Officer.

Form 990, Part VI, Section C, Line 19

All statements are available upon request.

Filing and Contact Details

Filer

Filer Name
Hendrix College
EIN
71-0236897
Phone
5014501333
Address
1600 Washington Avenue, Conway, AR 72032

Signing Officer

Name
Hillary Looney
Title
AVP Business & Finance
Phone
5014501333
Signed
2026-04-13

Organization Details

Principal Officer
Dr Karen Petersen
Formed
1876
Legal Domicile
Ar
Voting Board Members
33
Independent Board Members
32
Employees
1,073
Volunteers
32
Supplemental Narrative

Financial Statement Notes

Schedule D, Part III, Line 1

Collections, which were acquired through contributions since the College's inception consists of works of art, historical treasures, and similar assets. Collections are not capitalized in as much as the items are preserved and cared for continuously.

Schedule D, Part III, Line 4

From time to time, the College will receive pieces of artwork. Part of the College's mission is to develop the whole person. A respect for the arts is one way to develop and cultivate the completeness of our students, staff, and general public.

Schedule D, Part V, Line 4

The College's Endowment provides for the long-term viability of the College. The Endowment is key in inter-generational equity. We should be providing our students of today while balancing the need to support future generations. The Endowment allows the College to reduce the burden on families by providing annual support for the College's programs.

Schedule D, Part X, Line 2

The College has subsidiary corporations that are included in the consolidated financial statements. One of these subsidiary corporations is exempt from federal income taxes under 501(c)(3) and three are subject to taxation. The College and its subsidiary corporations that are exempt from federal income tax are required to pay federal income tax on unrelated business income. The College and its subsidiary corporations did not have any material income tax liabilities, and there were no financial reporting requirements for uncertain tax positions for the years ended May 31, 2025 and 2024.

Schedule D, Part XI, Line 2D

Adjustment for Hendrix Murphy Foundation revenue

Schedule D, Part XI, Line 4B

Adjustment for student financial aid

Schedule D, Part XII, Line 2D

Adjustment for Hendrix Murphy Foundation expenses

Schedule D, Part XII, Line 4B

Adjustment for student financial aid

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IRS990/Form990PartVIISectionAGrp/KeyEmployeeInd0X
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt380
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt390
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt400
IRS990/Form990PartVIISectionAGrp/PersonNm0Karen Petersen
IRS990/Form990PartVIISectionAGrp/PersonNm1Kesha Baoua
IRS990/Form990PartVIISectionAGrp/PersonNm2Terri Bonebright
IRS990/Form990PartVIISectionAGrp/PersonNm3Meredith Brunen
IRS990/Form990PartVIISectionAGrp/PersonNm4Bernadette Hinkle
IRS990/Form990PartVIISectionAGrp/PersonNm5Sam Nichols
IRS990/Form990PartVIISectionAGrp/PersonNm6Vicki Lynn
IRS990/Form990PartVIISectionAGrp/PersonNm7Amy Weaver
IRS990/Form990PartVIISectionAGrp/PersonNm8David Sutherland
IRS990/Form990PartVIISectionAGrp/PersonNm9Teresa Garrett
IRS990/Form990PartVIISectionAGrp/PersonNm10Elizabeth S Small
IRS990/Form990PartVIISectionAGrp/PersonNm11Reverend Roy P Smith
IRS990/Form990PartVIISectionAGrp/PersonNm12Darrin L Williams
IRS990/Form990PartVIISectionAGrp/PersonNm13Dr Hayden Franks
IRS990/Form990PartVIISectionAGrp/PersonNm14Joe R Goyne III
IRS990/Form990PartVIISectionAGrp/PersonNm15Dr Joe G Hollyfield
IRS990/Form990PartVIISectionAGrp/PersonNm16Bishop Laura Merrill
IRS990/Form990PartVIISectionAGrp/PersonNm17Terry Joe Ticey
IRS990/Form990PartVIISectionAGrp/PersonNm18William H Wilcox
IRS990/Form990PartVIISectionAGrp/PersonNm19Susan Deboard
IRS990/Form990PartVIISectionAGrp/PersonNm20Luke B Duffield
IRS990/Form990PartVIISectionAGrp/PersonNm21Reverend Mark Norman
IRS990/Form990PartVIISectionAGrp/PersonNm22Reverend Sara Pair
IRS990/Form990PartVIISectionAGrp/PersonNm23Derrick Smith
IRS990/Form990PartVIISectionAGrp/PersonNm24Jo Ann Biggs
IRS990/Form990PartVIISectionAGrp/PersonNm25Dr Charles Chappell
IRS990/Form990PartVIISectionAGrp/PersonNm26Kim Evans
IRS990/Form990PartVIISectionAGrp/PersonNm27Kenneth A Gunderman
IRS990/Form990PartVIISectionAGrp/PersonNm28Jan N Hundley
IRS990/Form990PartVIISectionAGrp/PersonNm29Dr John C Byrd
IRS990/Form990PartVIISectionAGrp/PersonNm30Latoya M Goree Smith
IRS990/Form990PartVIISectionAGrp/PersonNm31R Eric Jackson
IRS990/Form990PartVIISectionAGrp/PersonNm32Dr Marquita S Norman
IRS990/Form990PartVIISectionAGrp/PersonNm33Heather Gardner
IRS990/Form990PartVIISectionAGrp/PersonNm34Dr John C Robbins
IRS990/Form990PartVIISectionAGrp/PersonNm35Michael D Malone
IRS990/Form990PartVIISectionAGrp/PersonNm36Carolyn L Miller
IRS990/Form990PartVIISectionAGrp/PersonNm37Henry E Neely
IRS990/Form990PartVIISectionAGrp/PersonNm38Walter Owen Pryor
IRS990/Form990PartVIISectionAGrp/PersonNm39Martin W Shell
IRS990/Form990PartVIISectionAGrp/PersonNm40Teresa Osam
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt250
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt270
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt290
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt300
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt310
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt320
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt330
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt350
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt360
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt370
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt390
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt400
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$314$91.5$222$88.0$77.2$10.7
2024Detailed filing. Detailed filing data is available for this year.$309$97.4$211$89.2$83.6$5.68
2023Detailed filing. Detailed filing data is available for this year.$300$100$200$97.5$84.3$13.2
2022Detailed filing. Detailed filing data is available for this year.$318$106$212$98.4$87.6$10.8
2021Detailed filing. Detailed filing data is available for this year.$336$116$220$89.0$87.5$1.45
2020Detailed filing. Detailed filing data is available for this year.$296$120$176$79.4$84.3$4.95
2019Detailed filing. Detailed filing data is available for this year.$305$115$190$94.1$91.0$3.16
2018Detailed filing. Detailed filing data is available for this year.$322$112$209$101$89.0$11.6
2017Detailed filing. Detailed filing data is available for this year.$303$106$197$81.8$90.4$8.54
2016Detailed filing. Detailed filing data is available for this year.$294$104$190$81.1$85.0$3.94
2015Detailed filing. Detailed filing data is available for this year.$309$107$202$105$90.8$14.4
2014Detailed filing. Detailed filing data is available for this year.$289$102$188$80.8$85.8$5.05
2013Summary only. Only limited summary data is available for this year.$283$99.3$183$71.7$81.1$9.41
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$261$88.1$173$74.6
2011Summary only. Only limited summary data is available for this year.$279$89.4$190$73.7$73.3$0.40
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$266$93.7$172$65.4