Civic Intelligence

Main Street Launch

990 • Fiscal year 2019 • EIN 94-2548556

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 10, 2020

2101 Webster StreetOakland, CA 94612

(510) 763-4297

Siviq Scores

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

Liabilities / Assets

81st percentile

0.66x

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

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Liabilities / Revenue

88th percentile

2.13x

Higher debt load relative to revenue than 88% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Net Margin

68th percentile

10%

Higher net margin than 68% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Top Officer Pay

78th percentile

$300,646

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 4.0% of source-year revenue.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2019

Asset Growth

83rd percentile

19%

Faster asset growth than 83% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Revenue Growth

64th percentile

8.8%

Faster revenue growth than 64% of similar nonprofits.

2019 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2018 to 2019

Assets

Up

$23,893,477

Up $3,830,328 (+19%) from 2018

Net Assets

Up

$8,037,340

Up $772,631 (+11%) from 2018

Liabilities

Up

$15,856,137

Up $3,057,697 (+24%) from 2018

Revenue

Up

$7,447,994

Up $605,210 (+8.8%) from 2018

Expenses

Up

$6,675,363

Up $1,094,810 (+20%) from 2018

Net Income

Down

$772,631

Down $489,600 (-39%) from 2018

Historical Trend

Balance Sheet Trend

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

$40M$30M$20M$10M$0Assets 2011: $7,020,947Liabilities 2011: $4,377,472Net Assets 2011: $2,643,4752011Assets 2012: $9,258,038Liabilities 2012: $5,639,637Net Assets 2012: $3,618,4012012Assets 2013: $9,933,967Liabilities 2013: $6,051,877Net Assets 2013: $3,882,0902013Assets 2014: $11,453,853Liabilities 2014: $6,817,804Net Assets 2014: $4,636,0492014Assets 2015: $11,429,747Liabilities 2015: $6,718,758Net Assets 2015: $4,710,9892015Assets 2016: $14,054,666Liabilities 2016: $8,855,192Net Assets 2016: $5,199,4742016Assets 2017: $15,666,510Liabilities 2017: $9,664,032Net Assets 2017: $6,002,4782017Assets 2018: $20,063,149Liabilities 2018: $12,798,440Net Assets 2018: $7,264,7092018Assets 2019: $23,893,477Liabilities 2019: $15,856,137Net Assets 2019: $8,037,3402019Assets 2020: $31,951,091Liabilities 2020: $23,087,569Net Assets 2020: $8,863,5222020Assets 2021: $33,776,792Liabilities 2021: $20,451,682Net Assets 2021: $13,325,1102021Assets 2022: $30,976,803Liabilities 2022: $17,697,430Net Assets 2022: $13,279,3732022Assets 2023: $28,397,163Liabilities 2023: $14,854,504Net Assets 2023: $13,542,6592023Assets 2024: $24,362,000Liabilities 2024: $13,917,056Net Assets 2024: $10,444,9442024Assets 2025: $26,128,268Liabilities 2025: $14,751,012Net Assets 2025: $11,377,2562025

Highlighted filing

2019

Assets$23,893,477
Liabilities$15,856,137
Net Assets$8,037,340

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2011: $1,941,894Expenses 2011: $1,920,439Net Income 2011: $21,4552011Expenses 2012: $1,937,9072012Expenses 2013: $2,163,9202013Revenue 2014: $3,788,617Expenses 2014: $3,034,658Net Income 2014: $753,9592014Revenue 2015: $3,251,645Expenses 2015: $3,176,705Net Income 2015: $74,9402015Revenue 2016: $5,255,488Expenses 2016: $4,767,003Net Income 2016: $488,4852016Revenue 2017: $5,760,288Expenses 2017: $4,957,284Net Income 2017: $803,0042017Revenue 2018: $6,842,784Expenses 2018: $5,580,553Net Income 2018: $1,262,2312018Revenue 2019: $7,447,994Expenses 2019: $6,675,363Net Income 2019: $772,6312019Revenue 2020: $8,266,331Expenses 2020: $7,440,148Net Income 2020: $826,1832020Revenue 2021: $12,838,427Expenses 2021: $8,376,838Net Income 2021: $4,461,5892021Revenue 2022: $10,030,416Expenses 2022: $10,076,153Net Income 2022: -$45,7372022Revenue 2023: $7,518,901Expenses 2023: $7,255,615Net Income 2023: $263,2862023Revenue 2024: $5,291,164Expenses 2024: $8,388,879Net Income 2024: -$3,097,7152024Revenue 2025: $6,730,392Expenses 2025: $5,798,080Net Income 2025: $932,3122025

Highlighted filing

2019

Revenue$7,447,994
Expenses$6,675,363
Net Income$772,631
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 10, 2020
Return Version
2018v3.1
Gross Receipts
$7,447,994
Mission and Program Overview

Mission

Our mission is to create economic opportunity by empowering entrepreneurs.Through innovative partnerships we provide business owners with capital, education, and relationships that allow them to flourish. Our collaborative approach helps our clients create jobs and stimulates economic development in low-to-moderate income communities.

To grow strong communities by providing financing and technical assistance to small businesses that provide employment service and community benefits

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$9,973,191$11,281,157▲ $1,307,966
Savings and Temporary Cash Investments$4,681,942$6,465,415▲ $1,783,473
Cash and Non-Interest-Bearing Accounts$3,148,224$3,015,583▼ $132,641
Pledges and Grants Receivable$481,793$1,298,717▲ $816,924
Land, Buildings, and Equipment, Net$200,493$430,381▲ $229,888
Accounts Receivable$145,755$235,585▲ $89,830
Prepaid Expenses and Deferred Charges$44,968$47,521▲ $2,553
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$20,063,149$23,893,477▲ $3,830,328
Other Assets Total$1,386,783$1,119,118▼ $267,665
Liabilities
Unsecured Notes Loans Payable$9,847,504$12,545,140▲ $2,697,636
Other Liabilities$551,986$1,575,256▲ $1,023,270
Mortgage Notes Payable Secured by Investment Property$1,411,055$906,695▼ $504,360
Accounts Payable and Accrued Expenses$987,895$829,046▼ $158,849
Total Liabilities$12,798,440$15,856,137▲ $3,057,697
Net Assets / Fund Balance
Permanently Rstr Net Assets$3,513,156$4,165,604▲ $652,448
Unrestricted Net Assets$3,513,739$3,871,736▲ $357,997
Temporarily Rstr Net Assets$237,814--
Total Net Assets Fund Balance$7,264,709$8,037,340▲ $772,631
Total Liabilities and Net Assets / Fund Balance$20,063,149$23,893,477▲ $3,830,328

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$425,078-$425,078
Equipment$293,331-$293,331
Buildings$68,366-$68,366
Leasehold Improvements$-356,394$363,131$6,737
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jacob SingerPresident & CEOFT$268,394$32,252$300,646
Jen LeybovichEVP Strat & DevFT$209,308$34,019$243,327
Scott LewisEvp/ CFOFT$143,274$21,966$165,240
Joyce WindrossEVP OperationsFT$141,940$19,663$161,603
Darius MahajerSVP Marketing MgrFT$134,957$16,050$151,007
Wendell Jones IIChairperson-$2,700-$2,700
Arthur WashingtonDirector-$2,700-$2,700
Jim WongDirector-$2,500-$2,500
Mark LindquistSecretary-$2,300-$2,300
Gladys GreenViceChairperson-$2,300-$2,300
Tiffany ShortDirector-$2,300-$2,300
LaSandra HuntDirector-$1,700-$1,700
Eric NelsonDirector-$1,500-$1,500

Board Members and Trustees

NameTitle
Matt ChingDirector
Stephanie JonesTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Techsperiencetechnology766 Walker Avenue, Oakland, CA 94610$102,852
Revenue and Support

Revenue Composition

Contributions and Grants
$5,014,892
Program Service Revenue
$493,898
Investment Income
$1,713,978
Other Revenue
$225,226
All Other Contributions
$8,822
Change in Net Assets
$772,631
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,462,022
Salaries, Compensation, and Employee Benefits$3,213,341
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,413,553$211,215-$1,624,768
Current Officers, Directors, Trustees, and Key Employees$1,004,928$23,396-$1,028,324
All Other Expenses$687,943$32,711-$720,654
Interest$478,304--$478,304
Occupancy$342,080$42,394-$384,474
Other Employee Benefits$268,085$45,654-$313,739
Payroll Taxes$108,464$138,046-$246,510
Other Expenses$205,364$24,449-$205,364
Advertising$155,570--$155,570
Fees for Services Accounting$118,752$5,359-$124,111
Travel$74,648$3,372-$78,020
Insurance$65,487$10,029-$75,516
Depreciation Depletion$61,942$9,623-$71,565
Fees for Services Legal$24,323$1,097-$25,420
Total Functional Expenses$6,128,018$547,345$0$6,675,363
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$700,000
Other Liabilities$510,253
Unearned Revenue$365,000
Rounding$3
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 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, Line 11B: Form 990 Review Process

Form 990 Reviewed by Governing Body

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The conflict of interest policy is regularly and consistently monitored and enforced.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

Approved by the Board

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Approved by the Board

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Audit report made available to Dun & Bradstreet

Filing and Contact Details

Filer

Filer Name
Main Street Launch
EIN
94-2548556
Phone
5107634297
Address
2101 Webster Street, OAKLAND, CA 94612

Signing Officer

Name
Jacob Singer
Title
President & CEO
Signed
2020-03-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jacob Singer
Formed
1979
Voting Board Members
10
Independent Board Members
10
Employees
20

Preparer

Firm
Williams Adley and Co-ca Llp
Address
7677 Oakport St Suite 1000, OAKLAND, CA 94621
Preparer
Robert H Griffin
Phone
5108938114
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E: Other Expenses

Bank Charges: Column (A) - Total = $35886; Column (B) - Program Services = $35886; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Board Meeting: Column (A) - Total = $28035; Column (B) - Program Services = $28035; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Community Outreach: Column (A) - Total = $10599; Column (B) - Program Services = $10599; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Conference and Training: Column (A) - Total = $103594; Column (B) - Program Services = $103594; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Due & Publication: Column (A) - Total = $9365; Column (B) - Program Services = $8967; Column (C) - Management & General = $398; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Equipment expense: Column (A) - Total = $59630; Column (B) - Program Services = $52016; Column (C) - Management & General = $7614; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Event Training: Column (A) - Total = $7014; Column (B) - Program Services = $7014; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Internship Program: Column (A) - Total = $120417; Column (B) - Program Services = $120417; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Miscellaneous: Column (A) - Total = $77902; Column (B) - Program Services = $73412; Column (C) - Management & General = $4490; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Postage and Shipping: Column (A) - Total = $46886; Column (B) - Program Services = $41286; Column (C) - Management & General = $5600; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Printing and Publications: Column (A) - Total = $38106; Column (B) - Program Services = $35103; Column (C) - Management & General = $3003; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Relocation Expense: Column (A) - Total = $1070; Column (B) - Program Services = $1070; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Repair and Maintenance: Column (A) - Total = $245; Column (B) - Program Services = $245; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Sale of Loan Expense: Column (A) - Total = $20908; Column (B) - Program Services = $20908; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Telephone: Column (A) - Total = $39323; Column (B) - Program Services = $35828; Column (C) - Management & General = $3495; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Temporary Services: Column (A) - Total = $113563; Column (B) - Program Services = $113563; Column (C) - Management & General = $0; Column (D) - Fundraising = $0

Form 990, Part IX, Line 24E: Other Expenses

Utilities: Column (A) - Total = $8111; Column (B) - Program Services = $0; Column (C) - Management & General = $8111; Column (D) - Fundraising = $0

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IRS990/Desc0PROGRAM ACCOMPLISHMENTIn the last ten years, Main Street Launch has made loans totaling $72.6 million to 884 businesses, creating and sustaining over 5,900 jobs. These loans supported 48% women-owned businesses, 66% businesses owned by low-to moderate income (LMI entrepreneurs, 48% minority-owned businesses, 54% businesses in LMI neighborhoods, and 46% new businesses. Main Street Launch focuses its services in three program areas: Oakland businesses, San Francisco businesses, and veteran-owned businesses throughout California. During FY19, Main Street Launch provided technical assistance to 1,337 entrepreneurs and loaned $11.3 million to 44 Oakland businesses, 43 San Francisco businesses, and 24 veteran-owned businesses, creating and sustaining 624 jobs. Main Street Launch's technical assistance and lending activity has resulted in job creation and income for residents in LMI communities, increasedwealth for under-served entrepreneurs, and increased economic activity in LMI communities. This leads to improved community vitality as a result of decreasing retail leakage, blight, and the number of empty storefronts, and increasing tax revenue for city services and residents access to goods and services.
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1134019
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IRS990/Form990PartVIISectionAGrp/PersonNm2GLADYS GREEN
IRS990/Form990PartVIISectionAGrp/PersonNm3Stephanie Jones
IRS990/Form990PartVIISectionAGrp/PersonNm4Tiffany Short
IRS990/Form990PartVIISectionAGrp/PersonNm5Jim Wong
IRS990/Form990PartVIISectionAGrp/PersonNm6Eric Nelson
IRS990/Form990PartVIISectionAGrp/PersonNm7Arthur Washington
IRS990/Form990PartVIISectionAGrp/PersonNm8LaSandra Hunt
IRS990/Form990PartVIISectionAGrp/PersonNm9Matt Ching
IRS990/Form990PartVIISectionAGrp/PersonNm10Jacob Singer
IRS990/Form990PartVIISectionAGrp/PersonNm11Jen Leybovich
IRS990/Form990PartVIISectionAGrp/PersonNm12Scott Lewis
IRS990/Form990PartVIISectionAGrp/PersonNm13Joyce Windross
IRS990/Form990PartVIISectionAGrp/PersonNm14Darius Mahajer
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IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt11EVP Strat & Dev
IRS990/Form990PartVIISectionAGrp/TitleTxt12EVP/ CFO
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IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
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IRS990/OtherExpensesGrp/Desc0Bad Debt
IRS990/OtherExpensesGrp/Desc1Allowance for Bad loans
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IRS990/OtherExpensesGrp/Desc3Consultant
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IRS990/OtherExpensesGrp/ProgramServicesAmt0639203
IRS990/OtherExpensesGrp/ProgramServicesAmt1292383
IRS990/OtherExpensesGrp/ProgramServicesAmt2186989
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IRS990/OtherExpensesGrp/TotalAmt1292383
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IRS990/OtherExpensesGrp/TotalAmt3205364
IRS990/OtherLiabilitiesGrp/BOYAmt0551986
IRS990/OtherLiabilitiesGrp/EOYAmt01575256
IRS990/OtherRevenueMiscGrp/Desc0OTHER INCOME
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0225226
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0211215
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01413553
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IRS990/PayrollTaxesGrp/ProgramServicesAmt0108464
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt047521
IRS990/PrincipalOfficerNm0Jacob Singer
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt12540
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2146993
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt37018
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt12540
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2146993
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt37018
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IRS990/PYProgramServiceRevenueAmt01383262
IRS990/PYRevenuesLessExpensesAmt01262231
IRS990/PYSalariesCompEmpBnftPaidAmt03191296
IRS990/PYTotalExpensesAmt05580553
IRS990/PYTotalRevenueAmt06842784
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IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0772631
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt04681942
IRS990/SavingsAndTempCashInvstGrp/EOYAmt06465415
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt05014892
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt04567427
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt03333357
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt03315574

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$26.1$14.8$11.4$6.73$5.80$0.93
2024Detailed filing. Detailed filing data is available for this year.$24.4$13.9$10.4$5.29$8.39$3.10
2023Detailed filing. Detailed filing data is available for this year.$28.4$14.9$13.5$7.52$7.26$0.26
2022Detailed filing. Detailed filing data is available for this year.$31.0$17.7$13.3$10.0$10.1$0.05
2021Detailed filing. Detailed filing data is available for this year.$33.8$20.5$13.3$12.8$8.38$4.46
2020Detailed filing. Detailed filing data is available for this year.$32.0$23.1$8.86$8.27$7.44$0.83
2019Detailed filing. Detailed filing data is available for this year.$23.9$15.9$8.04$7.45$6.68$0.77
2018Detailed filing. Detailed filing data is available for this year.$20.1$12.8$7.26$6.84$5.58$1.26
2017Detailed filing. Detailed filing data is available for this year.$15.7$9.66$6.00$5.76$4.96$0.80
2016Summary only. Only limited summary data is available for this year.$14.1$8.86$5.20$5.26$4.77$0.49
2015Detailed filing. Detailed filing data is available for this year.$11.4$6.72$4.71$3.25$3.18$0.07
2014Detailed filing. Detailed filing data is available for this year.$11.5$6.82$4.64$3.79$3.03$0.75
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.93$6.05$3.88$2.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.26$5.64$3.62$1.94
2011Summary only. Only limited summary data is available for this year.$7.02$4.38$2.64$1.94$1.92$0.02