Civic Intelligence

Willow Tree Preschool

990 • Fiscal year 2019 • EIN 82-2980265

Aug 01, 2018 to Jul 31, 2019 • Filed on Dec 12, 2019

Organization Profilebinkleypreschool.org
1712 Willow DriveChapel Hill, NC 27514

(919) 968-1427

Siviq Scores

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

Liabilities / Assets

79th percentile

0.11x

Higher debt load relative to assets than 79% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

82nd percentile

0.10x

Higher debt load relative to revenue than 82% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

59th percentile

7.6%

Higher net margin than 59% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2019

Asset Growth

57th percentile

6.0%

Faster asset growth than 57% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

42nd percentile

-3.6%

Faster revenue growth than 42% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets79th percentile

Assets

Up

$231,438

Up $13,132 (+6.0%) from 2018

Net Assets

Up

$204,977

Up $19,928 (+11%) from 2018

Liabilities

Down

$26,461

Down $6,796 (-20%) from 2018

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin59th percentile

Revenue

Down

$261,549

Down $9,736 (-3.6%) from 2018

Expenses

Up

$241,621

Up $11,606 (+5.0%) from 2018

Net Income

Down

$19,928

Down $21,342 (-52%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth57th percentile

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

$300K$200K$100K$0Assets 2018: $218,306Liabilities 2018: $33,257Net Assets 2018: $185,0492018Assets 2019: $231,438Liabilities 2019: $26,461Net Assets 2019: $204,9772019Assets 2020: $250,123Liabilities 2020: $43,087Net Assets 2020: $207,0362020Assets 2021: $188,808Liabilities 2021: $41,813Net Assets 2021: $146,9952021Assets 2022: $222,452Liabilities 2022: $26,793Net Assets 2022: $195,6592022Assets 2023: $9,093Liabilities 2023: $0Net Assets 2023: $9,0932023Assets 2024: $245,404Liabilities 2024: $39,689Net Assets 2024: $205,7152024

Highlighted filing

2019

Assets$231,438
Liabilities$26,461
Net Assets$204,977
Open 2019 Filing

Operations Trend

Revenue Growth42nd percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2018: $271,285Expenses 2018: $230,015Net Income 2018: $41,2702018Revenue 2019: $261,549Expenses 2019: $241,621Net Income 2019: $19,9282019Revenue 2020: $209,180Expenses 2020: $231,778Net Income 2020: -$22,5982020Revenue 2021: $89,201Expenses 2021: $147,185Net Income 2021: -$57,9842021Revenue 2022: $300,925Expenses 2022: $229,032Net Income 2022: $71,8932022Revenue 2023: $234,024Expenses 2023: $225,382Net Income 2023: $8,6422023Revenue 2024: $192,000Expenses 2024: $226,384Net Income 2024: -$34,3842024

Highlighted filing

2019

Revenue$261,549
Expenses$241,621
Net Income$19,928
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Aug 1, 2018 to Jul 31, 2019
Signed
Dec 12, 2019
Return Version
2018v3.1
Gross Receipts
$263,661
Mission and Program Overview

Mission

Binkley Preschool believes that all children regardless of ethnic,cultural or socio-economic isues have deserve a childhood education.

Binkley Preschool believes that all children regardless of ethnic, cultural or socio-economic backgrounds, deserve a high quality preschool experience. At Binkley Preschool, we believe that children should be allowed to be children. We foster a loving, nurturing, play based environment that is challenging and stimulating, but not frustrating. Our goal is to give children a solid foundation upon which to build their education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$185,049$204,977▲ $19,928
Savings and Temporary Cash Investments$182,429$182,739▲ $310
Cash and Non-Interest-Bearing Accounts$33,360$46,895▲ $13,535
Land, Buildings, and Equipment, Net$1,479$1,178▼ $301
Accounts Receivable$1,038--
Prepaid Expenses and Deferred Charges-$626-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$218,306$231,438▲ $13,132
Liabilities
Deferred Revenue$33,257$26,461▼ $6,796
Total Liabilities$33,257$26,461▼ $6,796
Net Assets / Fund Balance
Total Net Assets Fund Balance$185,049$204,977▲ $19,928
Total Liabilities and Net Assets / Fund Balance$218,306$231,438▲ $13,132

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,178$326$1,504
Compensation and Service Providers
Top Officer PayScore unavailable

Employees

NameTitleFull / Part TimeBaseTotal
Kim BuckleyPreschool DirectorPT$32,077$32,077

Board Members and Trustees

NameTitle
Lindsey BennettChair
Katie StewartVice-Chair
Karen LongChurch Liaison
Courtney WrightFundraising
Lauren MullisParent Coordinator
Jenn ShermanRegistrar
XiaoMeng ZhouScholarship
Hannah BissmeyerSecretary
Holly BarnesTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,127
Program Service Revenue
$251,181
Investment Income
$310
Other Revenue
$3,931
All Other Contributions
$6,127
Change in Net Assets
$19,928
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$202,461
Other Expenses$29,579
Grants and Similar Amounts Paid$9,581
Total Fundraising Expense$699
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$153,996--$153,996
Current Officers, Directors, Trustees, and Key Employees$12,970$18,806$649$32,425
Payroll Taxes$14,551$1,439$50$16,040
Grants to Domestic Individuals$9,581--$9,581
Occupancy$3,191$298-$3,489
Insurance-$3,344-$3,344
Fees for Services Legal-$3,233-$3,233
Fees for Services Accounting-$2,440-$2,440
Fees for Services Other$2,352--$2,352
Other Expenses$1,684--$1,684
Office Expenses$497$119-$616
All Other Expenses$419$15-$434
Information Technology-$306-$306
Depreciation Depletion-$301-$301
Total Functional Expenses$210,621$30,301$699$241,621
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$6,043
Fundraising Direct Expenses$2,112
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
Annual disclosure for covered persons
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
Yes
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, Section A, line 4

“The Organization added a section to its by-laws as follows: "Avoiding Conflict of Interest: Members of the same household are restricted from serving on the Binkley Parent Board concurrently in the same academic year."”

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

“Willow Tree Preschool (dba Binkley Preschool) will hire an independent accountant to prepare the organization's 990. Upon completion, the 990 will be reviewed by the Bookkeeper, Executive Director and Board Chair. The Board Chair will sign off on approval of the final 990 submission to the IRS.”

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

“On an annual basis (at the first board meeting of the school-year) the entire board discusses and signs a conflict of interest policy that is embedded within our Confidentiality Statement. Board members are to excuse themselves from meetings/discussions if there is any COI whether it affects the board member or others that they may have a relationship with. The Chair evaluates all discussions that are brought to the Board Meetings, and if at any point she sees there is a COI and the person remains in the room, she will ask them to excuse themselves for the remainder of the discussion.”

Form 990, Part VI, Section C, line 19

“The Preschool makes its governing documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Willow Tree Preschool
EIN
82-2980265
Phone
9199681427
Address
1712 Willow Drive, Chapel Hill, NC 27514
Doing Business As
Binkley Preschool

Signing Officer

Name
Lindsey Bennett
Title
Board Chair
Phone
9199681427
Signed
2019-12-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lindsey Bennett
Formed
2017
Legal Domicile
Nc
Voting Board Members
9
Independent Board Members
9
Employees
11
Volunteers
18

Preparer

Firm
Stancil PC
Address
4909 Windy Hill Drive, Raleigh, NC 27609
Preparer
Susan Stillings
Phone
9198721260
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IRS990/ActivityOrMissionDesc0Binkley Preschool believes that all children regardless of ethnic, cultural or socio-economic backgrounds, deserve a high quality preschool experience. At Binkley Preschool, we believe that children should be allowed to be children. We foster a loving, nurturing, play based environment that is challenging and stimulating, but not frustrating. Our goal is to give children a solid foundation upon which to build their education.
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IRS990/Desc0Binkley Preschool is a half-day preschool, serving children ages 2, 3, and 4. The preschool is a play-based education that strives to foster a loving, nurturing, environment that is challenging, stimulating, and age appropriate. Our goal is to give our preschoolers a solid foundation upon which to build their education. In addition to our classroom curriculum, Binkley offers an introduction to music, physical education, drama, and Spanish. Also, each day features a dedicated block of unstructured, outdoor play. The 2-year-old program is a 10:2 student/teacher ratio and is offered either Monday/Wednesday/Friday or Tuesday/Thursday 9:00am-12:00pm The 3-year-old program is a 14:2 student/teacher ratio and is offered either Monday/Wednesday/Friday or Tuesday/Thursday 9:00am-12:00pm with an optional additional hour for lunch and play. The 4-year-old program is a 16:2 student/teacher ratio and is offered Monday-Friday 9:00am-12:00pm with an optional additional hour for lunch and play. We currently have 80 students enrolled with 6 classroom teachers, 3 extracurricular teachers, and 1 director.
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IRS990/MissionDesc0Binkley Preschool believes that all children regardless of ethnic, cultural or socio-economic backgrounds, deserve a high quality preschool experience. At Binkley Preschool, we believe that children should be allowed to be children. We foster a loving, nurturing, play based environment that is challenging and stimulating, but not frustrating. Our goal is to give children a solid foundation upon which to build their education.
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt210390
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt36530
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt43670
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt010310
IRS990/PYInvestmentIncomeAmt0201
IRS990/PYOtherExpensesAmt023976
IRS990/PYOtherRevenueAmt01399
IRS990/PYProgramServiceRevenueAmt0269685
IRS990/PYRevenuesLessExpensesAmt041270
IRS990/PYSalariesCompEmpBnftPaidAmt0195729
IRS990/PYTotalExpensesAmt0230015
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0271285
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt019928
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt0251181
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0185049
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0204977
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0182429
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0182739
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/EquipmentGrp/BookValueAmt01178
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0326
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt01504
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01178
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd00
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd00
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0The School's admission policy is detailed on the website.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule E, Part I, Line 3
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt09581
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt09
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0The scholarship program is a year-round program. Families who need financial help can apply for it at any time around the year. Families who apply for the scholarship need to submit the scholarship application form to the Scholarship Chair. Families applying will then need to provide the most recent two years' tax return forms. After the financial data is collected, the Scholarship Chair will calculate 6% of the family's monthly income. If the amount is more than the tuition, the family does not qualify. If it is less than the tuition, we will compare it to the amount they can pay per month (this data is in the scholarship application form) and pick the amount the family should pay every month. The shortfall will be the scholarship award. Generally, for 2's and 3's classes, if the family applies for scholarship and qualifies, the kids should be in T/Th classes, no matter their first choice.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Organization added a section to its by-laws as follows: "Avoiding Conflict of Interest: Members of the same household are restricted from serving on the Binkley Parent Board concurrently in the same academic year."
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Willow Tree Preschool (dba Binkley Preschool) will hire an independent accountant to prepare the organization's 990. Upon completion, the 990 will be reviewed by the Bookkeeper, Executive Director and Board Chair. The Board Chair will sign off on approval of the final 990 submission to the IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2On an annual basis (at the first board meeting of the school-year) the entire board discusses and signs a conflict of interest policy that is embedded within our Confidentiality Statement. Board members are to excuse themselves from meetings/discussions if there is any COI whether it affects the board member or others that they may have a relationship with. The Chair evaluates all discussions that are brought to the Board Meetings, and if at any point she sees there is a COI and the person remains in the room, she will ask them to excuse themselves for the remainder of the discussion.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The Preschool makes its governing documents available upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0Olin T Binkley Baptist Church
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0560791549
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0170(b)(1)(A)(i)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Church
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01712 Willow Dr
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Chapel Hill
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027514
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd01
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd01
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt0217
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt12000
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0Olin T Binkley Baptist Church
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1Olin T Binkley Baptist Church
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0P
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1K
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0218306
IRS990/TotalAssetsEOYAmt0231438
IRS990/TotalAssetsGrp/BOYAmt0218306
IRS990/TotalAssetsGrp/EOYAmt0231438
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt06127
IRS990/TotalEmployeeCnt011
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0699
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt030301
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0210621
IRS990/TotalFunctionalExpensesGrp/TotalAmt0241621
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt033257
IRS990/TotalLiabilitiesEOYAmt026461
IRS990/TotalLiabilitiesGrp/BOYAmt033257
IRS990/TotalLiabilitiesGrp/EOYAmt026461
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0185049

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$231,438
Liabilities
$26,461
Net assets
$204,977
Revenue
$261,549
Expenses
$241,621
Net income
$19,928
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.45$0.40$2.06$1.92$2.26$0.34
2023Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$2.34$2.25$0.09
2022Detailed filing. Detailed filing data is available for this year.$2.22$0.27$1.96$3.01$2.29$0.72
2021Detailed filing. Detailed filing data is available for this year.$1.89$0.42$1.47$0.89$1.47$0.58
2020Detailed filing. Detailed filing data is available for this year.$2.50$0.43$2.07$2.09$2.32$0.23
2019Detailed filing. Detailed filing data is available for this year.$2.31$0.26$2.05$2.62$2.42$0.20
2018Detailed filing. Detailed filing data is available for this year.$2.18$0.33$1.85$2.71$2.30$0.41