Civic Intelligence

Credit Unions Chartered in the State of Colorado

990 • Fiscal year 2019 • EIN 84-0528869

Jan 01, 2019 to Dec 31, 2019 • Filed on Apr 27, 2020

Organization ProfileN/A

View Organization Page

910 Main StAlamosa, CO 81101

(719) 589-6535

Siviq Scores

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

Liabilities / Assets

60th percentile

0.86x

Higher debt load relative to assets than 60% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

16th percentile

12.39x

Higher debt load relative to revenue than 16% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Net Margin

81st percentile

19%

Higher net margin than 81% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

76th percentile

$68,975

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 19.1% of source-year revenue.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Source year 2019

Asset Growth

99th percentile

14%

Faster asset growth than 99% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

83rd percentile

11%

Faster revenue growth than 83% of similar nonprofits.

2019 filings • 501(c)14 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets60th percentile

Assets

Up

$5,216,510

Up $628,482 (+14%) from 2018

Net Assets

Up

$741,725

Up $68,238 (+10%) from 2018

Liabilities

Up

$4,474,785

Up $560,244 (+14%) from 2018

Revenue And Expenses
Liabilities / Revenue16th percentileNet Margin81st percentile

Revenue

Up

$361,186

Up $36,959 (+11%) from 2018

Expenses

Up

$292,947

Up $6,445 (+2.2%) from 2018

Net Income

Up

$68,239

Up $30,514 (+81%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $5,959,325Liabilities 2010: $5,440,305Net Assets 2010: $519,0202010Assets 2011: $5,809,359Liabilities 2011: $5,452,895Net Assets 2011: $356,4642011Assets 2012: $5,720,868Liabilities 2012: $5,340,694Net Assets 2012: $380,1742012Assets 2013: $5,011,171Liabilities 2013: $4,634,965Net Assets 2013: $376,2062013Assets 2014: $4,682,358Liabilities 2014: $4,234,149Net Assets 2014: $448,2092014Assets 2015: $4,759,394Liabilities 2015: $4,265,328Net Assets 2015: $494,0662015Assets 2016: $5,059,037Liabilities 2016: $4,506,213Net Assets 2016: $552,8242016Assets 2017: $5,187,019Liabilities 2017: $4,551,257Net Assets 2017: $635,7622017Assets 2018: $4,588,028Liabilities 2018: $3,914,541Net Assets 2018: $673,4872018Assets 2019: $5,216,510Liabilities 2019: $4,474,785Net Assets 2019: $741,7252019Assets 2020: $6,012,111Liabilities 2020: $5,180,527Net Assets 2020: $831,5842020Assets 2021: $6,279,764Liabilities 2021: $5,316,921Net Assets 2021: $962,8432021Assets 2022: $5,862,063Liabilities 2022: $4,765,112Net Assets 2022: $1,096,9512022Assets 2023: $5,771,218Liabilities 2023: $4,549,336Net Assets 2023: $1,221,8822023Assets 2024: $5,941,034Liabilities 2024: $4,648,792Net Assets 2024: $1,292,2422024

Highlighted filing

2019

Assets$5,216,510
Liabilities$4,474,785
Net Assets$741,725
Open 2019 Filing

Operations Trend

Revenue Growth83rd percentile

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

$600K$400K$200K$0-$200KExpenses 2010: $425,3402010Revenue 2011: $346,489Expenses 2011: $509,045Net Income 2011: -$162,5562011Expenses 2012: $307,3492012Revenue 2013: $269,727Expenses 2013: $273,697Net Income 2013: -$3,9702013Revenue 2014: $293,410Expenses 2014: $221,407Net Income 2014: $72,0032014Revenue 2015: $293,555Expenses 2015: $247,697Net Income 2015: $45,8582015Revenue 2016: $309,069Expenses 2016: $250,290Net Income 2016: $58,7792016Revenue 2017: $327,161Expenses 2017: $244,245Net Income 2017: $82,9162017Revenue 2018: $324,227Expenses 2018: $286,502Net Income 2018: $37,7252018Revenue 2019: $361,186Expenses 2019: $292,947Net Income 2019: $68,2392019Revenue 2020: $369,756Expenses 2020: $279,898Net Income 2020: $89,8582020Revenue 2021: $417,890Expenses 2021: $286,630Net Income 2021: $131,2602021Revenue 2022: $410,696Expenses 2022: $276,588Net Income 2022: $134,1082022Revenue 2023: $405,479Expenses 2023: $280,548Net Income 2023: $124,9312023Revenue 2024: $454,265Expenses 2024: $323,197Net Income 2024: $131,0682024

Highlighted filing

2019

Revenue$361,186
Expenses$292,947
Net Income$68,239
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Apr 27, 2020
Return Version
2019v5.1
Gross Receipts
$361,186
Mission and Program Overview

Mission

State Chartered Credit Union provides savings checking and loans to members.

State Chartered Credit Union Provide savings, checking and loans to credit union members

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$3,304,642$3,925,910▲ $621,268
Savings and Temporary Cash Investments$974,253$1,012,582▲ $38,329
Rtn Earn Endowment Incm Other Fnds$542,642$610,880▲ $68,238
Land, Buildings, and Equipment, Net$152,637$140,896▼ $11,741
Pd in Cap Srpls Land Bldg Eqp Fund$130,845$130,845→ $0
Receivables From Officers Etc$109,429$84,003▼ $25,426
Cash and Non-Interest-Bearing Accounts$27,051$28,133▲ $1,082
Prepaid Expenses and Deferred Charges$7,012$6,677▼ $335
Total Assets$4,588,028$5,216,510▲ $628,482
Other Assets Total$13,004$18,309▲ $5,305
Liabilities
Other Liabilities$3,901,709$4,461,851▲ $560,142
Accounts Payable and Accrued Expenses$12,832$12,934▲ $102
Total Liabilities$3,914,541$4,474,785▲ $560,244
Net Assets / Fund Balance
Total Net Assets Fund Balance$673,487$741,725▲ $68,238
Total Liabilities and Net Assets / Fund Balance$4,588,028$5,216,510▲ $628,482

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$79,198$55,926-
Land$45,000--
Equipment$9,389$152,376-
Leasehold Improvements$7,309$29,375-
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Laura SchellTreasurerFT$68,975$68,975

Board Members and Trustees

NameTitle
Joseph KolupkeChair
Jon MontanoVice Chair
Trish VelasquezDirector
Gary GoodwinSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$361,186
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$68,239
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$161,789
Salaries, Compensation, and Employee Benefits$131,158
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$68,975$0$0$68,975
Other Salaries and Wages$50,772$0$0$50,772
Information Technology$27,008$0$0$27,008
All Other Expenses$21,109$0$0$21,109
Office Expenses$17,070$0$0$17,070
Depreciation Depletion$15,700$0$0$15,700
Other Expenses$14,879$0$0$14,879
Conferences and Meetings$10,819$0$0$10,819
Payroll Taxes$9,161$0$0$9,161
Occupancy$8,170$0$0$8,170
Insurance$6,549$0$0$6,549
Fees for Services Accounting$6,300$0$0$6,300
Advertising$5,187$0$0$5,187
Fees for Services Management$1,528$0$0$1,528
Pension Plan Contributions$1,440$0$0$1,440
Other Employee Benefits$810$0$0$810
Fees for Services Legal$600$0$0$600
Total Functional Expenses$292,947$0$0$292,947
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
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$109,429$84,003▼ $25,426
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Member Deposits$4,461,851
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Valley Educators Credit Union
EIN
84-0528869
Phone
7195896535
Address
910 Main St, Alamosa, CO 81101

Signing Officer

Name
Laura Schell
Title
Manager
Phone
7195896535
Signed
2020-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Laura Schell
Formed
1959
Legal Domicile
Co
Voting Board Members
5
Independent Board Members
0
Employees
5
Volunteers
8

Preparer

Firm
Mindy O Connor CPA LLC
Address
245 E HWY 50 STE 6, SALIDA, CO 81201
Preparer
Melinda R O'Connor
Phone
7195393150
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

“Credit union has members only”

Pt VI, Line 7A

“Members elect the board of Directors”

Pt VI, Line 7B

“The board of Directors determine policy”

Pt VI, Line 11B

“Prior to filing, the board of directors has the opportunity to review the return”

Pt VI, Line 15A

“Salary is determined by comparable in local market”

Raw XML AppendixShowing 400 of 425 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/PYTotalRevenueAmt0324227
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt0109429
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt084003
IRS990/ReconcilationRevenueExpnssAmt068239
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0542642
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0610880
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0974253
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01012582
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt079198
IRS990ScheduleD/BuildingsGrp/DepreciationAmt055926
IRS990ScheduleD/BuildingsGrp/InvestmentCostOrOtherBasisAmt0135124
IRS990ScheduleD/EquipmentGrp/BookValueAmt09389
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0152376
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0161765
IRS990ScheduleD/LandGrp/BookValueAmt045000
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt045000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt07309
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt029375
IRS990ScheduleD/LeaseholdImprovementsGrp/InvestmentCostOrOtherBasisAmt036684
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04461851
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Member Deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0140896
IRS990ScheduleD/TotalLiabilityAmt04461851
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt015148
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt126429
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt237436
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt34990
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd3true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd1false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd2false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd3false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd1X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd2X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanFromOrganizationInd3X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0Vehicle
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt1Vehicle
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt2Vehicle
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt3Signature
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt015579
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt126739
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt247025
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt37300
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0Gary Goodwin
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm1Susan Hamilton
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm2Susan Hamilton
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm3Susan Hamilton
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0Board Member
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt1Supervisory Chr
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt2Supervisory Chr
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt3Supervisory Chr
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd1true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd2true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd3true
IRS990ScheduleL/TotalBalanceDueAmt084003
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Credit union has members only
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Members elect the board of Directors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board of Directors determine policy
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Prior to filing, the board of directors has the opportunity to review the return
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Salary is determined by comparable in local market
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 15a
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt04588028
IRS990/TotalAssetsEOYAmt05216510
IRS990/TotalAssetsGrp/BOYAmt04588028
IRS990/TotalAssetsGrp/EOYAmt05216510
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0292947
IRS990/TotalFunctionalExpensesGrp/TotalAmt0292947
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt03914541
IRS990/TotalLiabilitiesEOYAmt04474785
IRS990/TotalLiabilitiesGrp/BOYAmt03914541
IRS990/TotalLiabilitiesGrp/EOYAmt04474785
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0673487
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0741725
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceRevenueAmt0361186
IRS990/TotalReportableCompFromOrgAmt068975
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0361186
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0361186
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt08
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04588028
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05216510
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0910 Main St
IRS990/USAddress/CityNm0Alamosa
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd081101
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Laura Schell
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Manager
ReturnHeader/BusinessOfficerGrp/PhoneNum07195896535
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Valley Educators Credit Union
ReturnHeader/Filer/BusinessNameControlTxt0VALL
ReturnHeader/Filer/EIN0840528869

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$5,216,510
Liabilities
$4,474,785
Net assets
$741,725
Revenue
$361,186
Expenses
$292,947
Net income
$68,239
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$5.94$4.65$1.29$0.45$0.32$0.13
2023Detailed filing. Detailed filing data is available for this year.$5.77$4.55$1.22$0.41$0.28$0.12
2022Detailed filing. Detailed filing data is available for this year.$5.86$4.77$1.10$0.41$0.28$0.13
2021Detailed filing. Detailed filing data is available for this year.$6.28$5.32$0.96$0.42$0.29$0.13
2020Detailed filing. Detailed filing data is available for this year.$6.01$5.18$0.83$0.37$0.28$0.09
2019Detailed filing. Detailed filing data is available for this year.$5.22$4.47$0.74$0.36$0.29$0.07
2018Detailed filing. Detailed filing data is available for this year.$4.59$3.91$0.67$0.32$0.29$0.04
2017Detailed filing. Detailed filing data is available for this year.$5.19$4.55$0.64$0.33$0.24$0.08
2016Detailed filing. Detailed filing data is available for this year.$5.06$4.51$0.55$0.31$0.25$0.06
2015Detailed filing. Detailed filing data is available for this year.$4.76$4.27$0.49$0.29$0.25$0.05
2014Detailed filing. Detailed filing data is available for this year.$4.68$4.23$0.45$0.29$0.22$0.07
2013Detailed filing. Detailed filing data is available for this year.$5.01$4.63$0.38$0.27$0.27$0.00
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.72$5.34$0.38$0.31
2011Summary only. Only limited summary data is available for this year.$5.81$5.45$0.36$0.35$0.51$0.16
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.96$5.44$0.52$0.43