Civic Intelligence

Conservatory of Vocal And

EIN 94-2948014 • 501(c)3 • Oakland, CA

Profile

The objectives of the corporation are to provide information and educational instruction to students, teachers, and others in the community, and to provide access to music and techology education.

12500 Campus Drive Bldg D244Oakland, CA 94619

www.covaconservatory.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

69th percentile

0.23x

Higher debt load relative to assets than 69% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

57th percentile

0.12x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Net Margin

41st percentile

0.8%

Higher net margin than 41% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

9th percentile

-20%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Revenue Growth

54th percentile

9.5%

Faster revenue growth than 54% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2020 to 2021

Assets

Down

$601,676

Down $146,417 (-20%) from 2020

Liabilities

Down

$136,049

Down $155,218 (-53%) from 2020

Net Assets

Up

$465,627

Up $8,801 (+1.9%) from 2020

Revenue

Up

$1,148,475

Up $99,496 (+9.5%) from 2020

Expenses

Down

$1,139,674

Down $169,931 (-13%) from 2020

Net Income

Up

$8,801

Up $269,427 (+103%) from 2020

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $851,808Liabilities 2011: $293,280Net Assets 2011: $558,5282011Assets 2012: $1,136,876Liabilities 2012: $265,590Net Assets 2012: $871,2862012Assets 2013: $1,228,863Liabilities 2013: $297,697Net Assets 2013: $931,1662013Assets 2014: $1,164,029Liabilities 2014: $301,098Net Assets 2014: $862,9312014Assets 2015: $1,263,694Liabilities 2015: $212,562Net Assets 2015: $1,051,1322015Assets 2016: $1,759,100Liabilities 2016: $234,974Net Assets 2016: $1,524,1262016Assets 2017: $1,696,446Liabilities 2017: $504,474Net Assets 2017: $1,191,9722017Assets 2018: $1,161,999Liabilities 2018: $327,417Net Assets 2018: $834,5822018Assets 2019: $969,453Liabilities 2019: $252,001Net Assets 2019: $717,4522019Assets 2020: $748,093Liabilities 2020: $291,267Net Assets 2020: $456,8262020Assets 2021: $601,676Liabilities 2021: $136,049Net Assets 2021: $465,6272021

Highlighted filing

2021

Assets$601,676
Liabilities$136,049
Net Assets$465,627

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2011: $1,851,193Expenses 2011: $1,444,673Net Income 2011: $406,5202011Expenses 2012: $1,699,6622012Expenses 2013: $1,779,1872013Revenue 2014: $1,686,074Expenses 2014: $1,754,309Net Income 2014: -$68,2352014Revenue 2015: $2,129,297Expenses 2015: $1,941,096Net Income 2015: $188,2012015Revenue 2016: $3,065,993Expenses 2016: $2,592,999Net Income 2016: $472,9942016Revenue 2017: $2,746,372Expenses 2017: $3,078,526Net Income 2017: -$332,1542017Revenue 2018: $1,043,618Expenses 2018: $1,401,008Net Income 2018: -$357,3902018Revenue 2019: $1,081,924Expenses 2019: $1,199,054Net Income 2019: -$117,1302019Revenue 2020: $1,048,979Expenses 2020: $1,309,605Net Income 2020: -$260,6262020Revenue 2021: $1,148,475Expenses 2021: $1,139,674Net Income 2021: $8,8012021

Highlighted filing

2021

Revenue$1,148,475
Expenses$1,139,674
Net Income$8,801

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Apr 25, 2022
Return Version
2020v4.2
Gross Receipts
$1,148,475
Mission and Program Overview

Mission

The objectives of the corporation are to provide information and educational instruction to students, teachers, and others in the community, and to provide access to music and techology education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$401,040$303,269▼ $97,771
Accounts Receivable$144,167$250,130▲ $105,963
Cash and Non-Interest-Bearing Accounts$170,858$31,592▼ $139,266
Prepaid Expenses and Deferred Charges$22,028$16,685▼ $5,343
Total Assets$748,093$601,676▼ $146,417
Other Assets Total$10,000$0▼ $10,000
Liabilities
Unsecured Notes Loans Payable$247,400--
Accounts Payable and Accrued Expenses$43,867$136,049▲ $92,182
Total Liabilities$291,267$136,049▼ $155,218
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$454,129$465,627▲ $11,498
Net Assets With Donor Restrictions$2,697$0▼ $2,697
Total Net Assets Fund Balance$456,826$465,627▲ $8,801
Total Liabilities and Net Assets / Fund Balance$748,093$601,676▼ $146,417
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Dr Valerie AbadPrincipalFT$47,082$30,896$77,978

Board Members and Trustees

NameTitle
Walter MccoyPresident
Sheila PompeyBoard Member
Shelly JamesBoard Member
William HynesBoard Member
Sheikh FaizSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$1,103,733
Program Service Revenue
$0
Investment Income
$2,270
Other Revenue
$42,472
Change in Net Assets
$8,801

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,148,475
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$1,148,475
Total Revenue per Form 990
$1,148,475
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$832,070
Other Expenses$307,604
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$459,797$171,257-$631,054
Fees for Services Other$68,380$23,777-$92,157
Current Officers, Directors, Trustees, and Key Employees$87,348--$87,348
Fees for Services Accounting-$77,000-$77,000
Occupancy$71,032--$71,032
Pension Plan Contributions$46,059--$46,059
Other Employee Benefits$18,708$19,687-$38,395
Payroll Taxes$16,859$12,355-$29,214
Insurance-$21,076-$21,076
Information Technology$7,333--$7,333
Other Expenses$4,785--$4,785
Advertising-$4,750-$4,750
Fees for Services Legal-$1,356-$1,356
Interest-$362-$362
Total Functional Expenses$808,054$331,620$0$1,139,674

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,139,674
Total Expenses per Audited Statements$1,139,674
Total Expenses per Form 990$1,139,674
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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
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
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 8B

No committees have the authority to act on behalf of the governing body.

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

The executive director reviews and signs the tax return.

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

Conflict of interest statements are completed annually. Statements are reviewed by the executive director for conflicts. An interested person may make a presentation at the governing board meeting, after the presentation they shall leave the meeting during a discussion and vote on the transaction arrangement. After exercising due diligence the governing board shall determine whether the organization can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably possible under circumtstances not producing a conflict of interest, the governing board shall determine by a majority vote of the disinterested directors whether the transaction or arrangement is in the organization's best interest, for its benefit, and whether it is fair and reasonable.

Form 990, Part VI, Section B, Line 15A

A salary schedule is approved by the board for all employees except the director whose compensation is determined by equivalent positions in the bay area. The teacher salary schedule is based on experience and alignment with local districts. The board and director are in charge of the process.

Form 990, Part VI, Section C, Line 19

The documents are readily available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Conservatory of Vocal and
EIN
94-2948014
Phone
5102857511
Address
12500 CAMPUS DRIVE BLDG D244, OAKLAND, CA 94619

Signing Officer

Name
Dr Valerie Abad
Title
Superintendent
Phone
5102857511
Signed
2022-04-25
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dr Valerie Abad
Formed
1984
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
16
Volunteers
5

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Wade Mcmullen
Phone
6268577300
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

Cova is a non-profit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. Accordingly, no provision has been made for income taxes. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required.cova files informational returns in the u.s. Federal jurisdiction, and the state of california.

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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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IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL PUBLICIZES ITS POLICY IN ITS REGISTRATION MATERIALS AND DOCUMENTS USED TO SOLICIT STUDENTS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1SCHOOL DOES NOT OFFER FINANCIAL ASSISTANCE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2PUBLIC CHARTER SCHOOL PRINCIPALLY FUNDED BY CALIFORNIA AND FEDERAL MONIES RECEIVED THROUGH THE CALIFORNIA DEPARTMENT OF EDUCATION.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/CompensationSurveyInd0X
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/Form990OfOtherOrganizationsInd0X
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE CEO'S COMPENSATION IS DETERMINED BY EQUIVALENT POSITIONS IN THE BAY AREA. THE SALARY SCHEDULE IS BASED ON EXPERIENCE AND ALIGNMENT WITH LOCAL DISTRICTS. THE BOARD OVERSEES AND APPROVES OF THIS PROCESS.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 3
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleJ/WrittenEmploymentContractInd0X
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0NO COMMITTEES HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE EXECUTIVE DIRECTOR REVIEWS AND SIGNS THE TAX RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2CONFLICT OF INTEREST STATEMENTS ARE COMPLETED ANNUALLY. STATEMENTS ARE REVIEWED BY THE EXECUTIVE DIRECTOR FOR CONFLICTS. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT THE GOVERNING BOARD MEETING, AFTER THE PRESENTATION THEY SHALL LEAVE THE MEETING DURING A DISCUSSION AND VOTE ON THE TRANSACTION ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE THE GOVERNING BOARD SHALL DETERMINE WHETHER THE ORGANIZATION CAN OBTAIN WITH REASONABLE EFFORTS A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER CIRCUMTSTANCES NOT PRODUCING A CONFLICT OF INTEREST, THE GOVERNING BOARD SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE ORGANIZATION'S BEST INTEREST, FOR ITS BENEFIT, AND WHETHER IT IS FAIR AND REASONABLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A SALARY SCHEDULE IS APPROVED BY THE BOARD FOR ALL EMPLOYEES EXCEPT THE DIRECTOR WHOSE COMPENSATION IS DETERMINED BY EQUIVALENT POSITIONS IN THE BAY AREA. THE TEACHER SALARY SCHEDULE IS BASED ON EXPERIENCE AND ALIGNMENT WITH LOCAL DISTRICTS. THE BOARD AND DIRECTOR ARE IN CHARGE OF THE PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE DOCUMENTS ARE READILY AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
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 B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0748093
IRS990/TotalAssetsEOYAmt0601676
IRS990/TotalAssetsGrp/BOYAmt0748093
IRS990/TotalAssetsGrp/EOYAmt0601676
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt01103733
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0331620
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0808054
IRS990/TotalFunctionalExpensesGrp/TotalAmt01139674
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0291267
IRS990/TotalLiabilitiesEOYAmt0136049
IRS990/TotalLiabilitiesGrp/BOYAmt0291267
IRS990/TotalLiabilitiesGrp/EOYAmt0136049
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0456826
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0465627
IRS990/TotalOtherCompensationAmt030896
IRS990/TotalProgramServiceExpensesAmt0808054
IRS990/TotalReportableCompFromOrgAmt047082
IRS990/TotalRevenueGrp/ExclusionAmt02270
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt042472
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01148475
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0748093
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0601676
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0247400
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt012500 CAMPUS DRIVE BLDG D244
IRS990/USAddress/CityNm0OAKLAND
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd094619
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.COVACONSERVATORY.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DR VALERIE ABAD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SUPERINTENDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum05102857511
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CONSERVATORY OF VOCAL AND
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0INSTRUMENTAL ARTS HIGH
ReturnHeader/Filer/BusinessNameControlTxt0CONS
ReturnHeader/Filer/EIN0942948014
ReturnHeader/Filer/PhoneNum05102857511
ReturnHeader/Filer/USAddress/AddressLine1Txt012500 CAMPUS DRIVE BLDG D244
ReturnHeader/Filer/USAddress/CityNm0OAKLAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094619
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02210 EAST ROUTE 66
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091740
ReturnHeader/PreparerPersonGrp/PhoneNum06268577300
ReturnHeader/PreparerPersonGrp/PreparationDt02022-04-25
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WADE MCMULLEN
ReturnHeader/ReturnTs02022-05-04T13:10:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DR
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0VALERIE ABAD
ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30
ReturnHeader/TaxYr02020

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