Civic Intelligence

Downtown Boulder Partnership

990 • Fiscal year 2018 • EIN 74-2358821

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 14, 2019

1942 Broadway No 301Boulder, CO 80302

(303) 449-3774

Siviq Scores

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

Liabilities / Assets

81st percentile

0.39x

Higher debt load relative to assets than 81% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

62nd percentile

0.13x

Higher debt load relative to revenue than 62% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Net Margin

30th percentile

-1.5%

Higher net margin than 30% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

92nd percentile

$173,796

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 17.5% of source-year revenue.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Source year 2018

Asset Growth

45th percentile

1.6%

Faster asset growth than 45% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

63rd percentile

7.2%

Faster revenue growth than 63% of similar nonprofits.

2018 filings • 501(c)6 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Up

$322,311

Up $5,034 (+1.6%) from 2017

Net Assets

Down

$196,795

Down $14,488 (-6.9%) from 2017

Liabilities

Up

$125,516

Up $19,522 (+18%) from 2017

Revenue

Up

$990,391

Up $66,727 (+7.2%) from 2017

Expenses

Up

$1,004,879

Up $53,917 (+5.7%) from 2017

Net Income

Up

-$14,488

Up $12,810 (+47%) from 2017

Historical Trend

Balance Sheet Trend

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

$600K$400K$200K$0Assets 2011: $237,466Liabilities 2011: $34,815Net Assets 2011: $202,6512011Assets 2012: $256,760Liabilities 2012: $45,448Net Assets 2012: $211,3122012Assets 2013: $194,774Liabilities 2013: $23,030Net Assets 2013: $171,7442013Assets 2014: $250,041Liabilities 2014: $20,216Net Assets 2014: $229,8252014Assets 2015: $254,417Liabilities 2015: $38,430Net Assets 2015: $215,9872015Assets 2016: $295,035Liabilities 2016: $56,454Net Assets 2016: $238,5812016Assets 2017: $317,277Liabilities 2017: $105,994Net Assets 2017: $211,2832017Assets 2018: $322,311Liabilities 2018: $125,516Net Assets 2018: $196,7952018Assets 2019: $282,262Liabilities 2019: $69,873Net Assets 2019: $212,3892019Assets 2020: $322,846Liabilities 2020: $87,349Net Assets 2020: $235,4972020Assets 2021: $405,524Liabilities 2021: $86,156Net Assets 2021: $319,3682021Assets 2022: $375,409Liabilities 2022: $97,987Net Assets 2022: $277,4222022Assets 2023: $364,903Liabilities 2023: $90,267Net Assets 2023: $274,6362023Assets 2024: $257,944Liabilities 2024: $71,894Net Assets 2024: $186,0502024

Highlighted filing

2018

Assets$322,311
Liabilities$125,516
Net Assets$196,795

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $323,383Expenses 2011: $284,801Net Income 2011: $38,5822011Revenue 2012: $332,009Expenses 2012: $323,348Net Income 2012: $8,6612012Revenue 2013: $344,650Expenses 2013: $384,218Net Income 2013: -$39,5682013Revenue 2014: $472,681Expenses 2014: $414,603Net Income 2014: $58,0782014Revenue 2015: $479,158Expenses 2015: $492,997Net Income 2015: -$13,8392015Revenue 2016: $570,765Expenses 2016: $548,170Net Income 2016: $22,5952016Revenue 2017: $923,664Expenses 2017: $950,962Net Income 2017: -$27,2982017Revenue 2018: $990,391Expenses 2018: $1,004,879Net Income 2018: -$14,4882018Revenue 2019: $931,016Expenses 2019: $915,422Net Income 2019: $15,5942019Revenue 2020: $957,889Expenses 2020: $934,781Net Income 2020: $23,1082020Revenue 2021: $1,069,203Expenses 2021: $985,332Net Income 2021: $83,8712021Revenue 2022: $278,577Expenses 2022: $320,523Net Income 2022: -$41,9462022Revenue 2023: $133,318Expenses 2023: $211,104Net Income 2023: -$77,7862023Revenue 2024: $166,572Expenses 2024: $158,199Net Income 2024: $8,3732024

Highlighted filing

2018

Revenue$990,391
Expenses$1,004,879
Net Income-$14,488
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 14, 2019
Return Version
2018v3.1
Gross Receipts
$990,391
Mission and Program Overview

Mission

The downtown boulder partnership (dbp), formerly downtown boulder, inc., is a 501(c)(6) nonprofit organization dedicated to the preservation and enhancement of downtown as the heart of the greater boulder community. As the umbrella organization for the downtown boulder business improvement district (bid) and the downtown boulder community initiatives (dbci), the partnership works tirelessly to make our downtown a national model of success.

Promote business in downtown boulder colorado.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$299,342$322,311▲ $22,969
Rtn Earn Endowment Incm Other Fnds$211,283$196,795▼ $14,488
Land, Buildings, and Equipment, Net$17,935$0▼ $17,935
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$317,277$322,311▲ $5,034
Liabilities
Deferred Revenue$54,051$69,827▲ $15,776
Accounts Payable and Accrued Expenses$51,943$55,689▲ $3,746
Total Liabilities$105,994$125,516▲ $19,522
Net Assets / Fund Balance
Total Net Assets Fund Balance$211,283$196,795▼ $14,488
Total Liabilities and Net Assets / Fund Balance$317,277$322,311▲ $5,034
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sean MaherChief Executive OfficerPT$140,000$33,796$173,796

Board Members and Trustees

NameTitle
Bing ChouChairman
Richard FoyPast Chair
Alan RogersVice Chairman
Boni SandovalDirector
Bonnie DahlDirector
Dan HaywardDirector
Dennis PaulDirector
Donnavan GreeneDirector
Ed BryneDirector
FERN O'BRIENDirector
John ShopbachDirector
Katie OlsonDirector
Matt SissonDirector
Nolan RosallDirector
Peter HeinzDirector
Peter WatersDirector
Will FrischkornDirector
Zoe PolkDirector
Cindy WardSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$985,718
Investment Income
$4,673
Other Revenue
$0
Change in Net Assets
$-14,488
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$772,703
Other Expenses$214,241
Grants and Similar Amounts Paid$17,935
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$446,037
Current Officers, Directors, Trustees, and Key Employees---$173,796
Occupancy---$90,053
Other Employee Benefits---$73,046
Payroll Taxes---$71,914
Grants to Domestic Orgs---$17,935
Information Technology---$15,816
Fees for Services Other---$13,578
All Other Expenses---$12,032
Fees for Services Accounting---$8,891
Pension Plan Contributions---$7,910
Office Expenses---$7,574
Travel---$5,053
Other Expenses---$4,405
Conferences and Meetings---$3,884
Insurance---$1,594
Total Functional Expenses$0$0$0$1,004,879
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Downtown Boulder Foundation IncBoulder, CO501(c)3General Purpose-
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
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 form 990 is reviewed by the entity accountant and the chairman of the board.

Form 990, Part VI, Section C, Line 19

The foundation makes its governing documents,and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Downtown Boulder Partnership
EIN
74-2358821
Phone
3034493774
Address
1942 BROADWAY NO 301, BOULDER, CO 80302

Signing Officer

Name
Chip
Title
Chief Executive Officer
Phone
3034493774
Signed
2019-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Chip
Formed
1986
Legal Domicile
Co
Voting Board Members
19
Independent Board Members
19
Employees
25
Volunteers
19

Preparer

Firm
Eide Bailly Llp
Address
1801 13TH ST STE 210, BOULDER, CO 80302-5387
Preparer
Rodell J Rudolph
Phone
3034431911
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IRS990/MissionDesc0THE DOWNTOWN BOULDER PARTNERSHIP (DBP), FORMERLY DOWNTOWN BOULDER, INC., IS A 501C6 NONPROFIT ORGANIZATION DEDICATED TO THE PRESERVATION AND ENHANCEMENT OF DOWNTOWN AS THE HEART OF THE GREATER BOULDER COMMUNITY. AS THE UMBRELLA ORGANIZATION FOR THE DOWNTOWN BOULDER BUSINESS IMPROVEMENT DISTRICT (BID) AND THE DOWNTOWN BOULDER FOUNDATION (DBF), THE PARTNERSHIP WORKS TIRELESSLY TO MAKE OUR DOWNTOWN A NATIONAL MODEL OF SUCCESS.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt0211283
IRS990/NetAssetsOrFundBalancesEOYAmt0196795
IRS990/NetUnrelatedBusTxblIncmAmt015065
IRS990/NondeductibleContributionsInd00
IRS990/OccupancyGrp/TotalAmt090053
IRS990/OfficeExpensesGrp/TotalAmt07574
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501cInd0X
IRS990/OrgDoesNotFollowSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/TotalAmt073046
IRS990/OtherExpensesGrp/Desc0GUIDEBOOK
IRS990/OtherExpensesGrp/Desc1GIFT CARD/PROMOTION
IRS990/OtherExpensesGrp/Desc2AWARD LUNCHEON
IRS990/OtherExpensesGrp/Desc3AMBASSADORS
IRS990/OtherExpensesGrp/TotalAmt022861
IRS990/OtherExpensesGrp/TotalAmt115141
IRS990/OtherExpensesGrp/TotalAmt213359
IRS990/OtherExpensesGrp/TotalAmt34405
IRS990/OtherSalariesAndWagesGrp/TotalAmt0446037
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/TotalAmt071914
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt00
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt07910
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0CHIP
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611430
IRS990/ProgramServiceRevenueGrp/BusinessCd1611430
IRS990/ProgramServiceRevenueGrp/BusinessCd2611430
IRS990/ProgramServiceRevenueGrp/Desc0MANAGEMENT SERVICES
IRS990/ProgramServiceRevenueGrp/Desc1MEMBERSHIP DUES
IRS990/ProgramServiceRevenueGrp/Desc2MEMBERSHIP SUPPORT
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0841193
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt194575
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt224145
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0841193
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt194575
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt224145
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE SUPPORT SERVICES TO THE DOWNTOWN BOULDER FOUNDATION AND THE DOWNTOWN BOULDER BUSINESS IMPROVEMENT DISTRICT, THESE INCLUDE FINANCE, INFORMATION TECHNOLOGY,HUMAN RESOURCES, FACILITIES MANAGEMENT, AND EVENT SUPPORT.
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01071
IRS990/PYOtherExpensesAmt0216833
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt0922593
IRS990/PYRevenuesLessExpensesAmt0-27298
IRS990/PYSalariesCompEmpBnftPaidAmt0734129
IRS990/PYTotalExpensesAmt0950962
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0923664
IRS990/ReconcilationRevenueExpnssAmt0-14488
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0211283
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0196795
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0299342
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0322311
IRS990/ScheduleBRequiredInd00
IRS990ScheduleC/AgreeCarryoverPriorYearInd00
IRS990ScheduleC/OnlyInHouseLobbyingInd01
IRS990ScheduleC/SubstantiallyAllDuesNondedInd01
IRS990ScheduleI/GrantRecordsMaintainedInd00
IRS990ScheduleI/RecipientTable/IRCSectionDesc0501(C)3
IRS990ScheduleI/RecipientTable/NonCashAssistanceAmt017935
IRS990ScheduleI/RecipientTable/NonCashAssistanceDesc0EQUIPMENT
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0GENERAL PURPOSE
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0DOWNTOWN BOULDER FOUNDATION INC
IRS990ScheduleI/RecipientTable/RecipientEIN0364848287
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01942 BROADWAY
IRS990ScheduleI/RecipientTable/USAddress/CityNm0BOULDER
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0CO
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd080302
IRS990ScheduleI/RecipientTable/ValuationMethodUsedDesc0BOOK VALUE
IRS990ScheduleI/Total501c3OrgCnt01
IRS990ScheduleI/TotalOtherOrgCnt00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0140000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount020000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt02800
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt010996
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0SEAN MAHER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CHIEF EXECUTIVE OFFICER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0173796
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS REVIEWED BY THE ENTITY ACCOUNTANT AND THE CHAIRMAN OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION MAKES ITS GOVERNING DOCUMENTS,AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
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/SubjectToProxyTaxInd01
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0317277
IRS990/TotalAssetsEOYAmt0322311
IRS990/TotalAssetsGrp/BOYAmt0317277
IRS990/TotalAssetsGrp/EOYAmt0322311
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt025
IRS990/TotalFunctionalExpensesGrp/TotalAmt01004879
IRS990/TotalGrossUBIAmt025805
IRS990/TotalLiabilitiesBOYAmt0105994
IRS990/TotalLiabilitiesEOYAmt0125516
IRS990/TotalLiabilitiesGrp/BOYAmt0105994
IRS990/TotalLiabilitiesGrp/EOYAmt0125516
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0211283
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0196795
IRS990/TotalOtherCompensationAmt013796
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt025805
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt025805
IRS990/TotalProgramServiceRevenueAmt0985718
IRS990/TotalReportableCompFromOrgAmt0160000
IRS990/TotalRevenueGrp/ExclusionAmt04673
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0959913
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0990391
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt025805
IRS990/TotalVolunteersCnt019
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0317277
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0322311
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/TotalAmt05053
IRS990/TypeOfOrganizationCorpInd0X

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.26$0.07$0.19$0.17$0.16$0.01
2023Detailed filing. Detailed filing data is available for this year.$0.36$0.09$0.27$0.13$0.21$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.38$0.10$0.28$0.28$0.32$0.04
2021Detailed filing. Detailed filing data is available for this year.$0.41$0.09$0.32$1.07$0.99$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.32$0.09$0.24$0.96$0.93$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.28$0.07$0.21$0.93$0.92$0.02
2018Detailed filing. Detailed filing data is available for this year.$0.32$0.13$0.20$0.99$1.00$0.01
2017Detailed filing. Detailed filing data is available for this year.$0.32$0.11$0.21$0.92$0.95$0.03
2016Summary only. Only limited summary data is available for this year.$0.30$0.06$0.24$0.57$0.55$0.02
2015Summary only. Only limited summary data is available for this year.$0.25$0.04$0.22$0.48$0.49$0.01
2014Summary only. Only limited summary data is available for this year.$0.25$0.02$0.23$0.47$0.41$0.06
2013Summary only. Only limited summary data is available for this year.$0.19$0.02$0.17$0.34$0.38$0.04
2012Summary only. Only limited summary data is available for this year.$0.26$0.05$0.21$0.33$0.32$0.01
2011Summary only. Only limited summary data is available for this year.$0.24$0.03$0.20$0.32$0.28$0.04