Civic Intelligence

Coastside State Parks Association

990 • Fiscal year 2015 • EIN 94-3130418

Jan 01, 2015 to Dec 31, 2015 • Filed on Aug 12, 2016

1 New Years Creek RoadPescadero, CA 94060

(408) 224-0268

Siviq Scores

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

Liabilities / Assets

72nd percentile

0.05x

Higher debt load relative to assets than 72% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Liabilities / Revenue

78th percentile

0.06x

Higher debt load relative to revenue than 78% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Net Margin

84th percentile

30%

Higher net margin than 84% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Top Officer Pay

75th percentile

$0

Higher top officer pay than 75% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2015 filings • 501(c)3 • <$500k nonprofits • Source year 2015

Asset Growth

78th percentile

31%

Faster asset growth than 78% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Revenue Growth

39th percentile

-5.8%

Faster revenue growth than 39% of similar nonprofits.

2015 filings • 501(c)3 • <$500k nonprofits • Annualized from 2014 to 2015

Assets

Up

$268,146

Up $64,085 (+31%) from 2014

Net Assets

Up

$254,126

Up $68,487 (+37%) from 2014

Liabilities

Down

$14,020

Down $4,402 (-24%) from 2014

Revenue

Down

$228,288

Down $14,176 (-5.8%) from 2014

Expenses

Down

$159,801

Down $34,941 (-18%) from 2014

Net Income

Up

$68,487

Up $20,765 (+44%) from 2014

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $73,584Liabilities 2011: $3,9212011Assets 2012: $125,718Liabilities 2012: $773Net Assets 2012: $124,9452012Assets 2013: $160,174Liabilities 2013: $22,257Net Assets 2013: $137,9172013Assets 2014: $204,061Liabilities 2014: $18,422Net Assets 2014: $185,6392014Assets 2015: $268,146Liabilities 2015: $14,020Net Assets 2015: $254,1262015Assets 2016: $373,994Liabilities 2016: $11,189Net Assets 2016: $362,8052016Assets 2017: $476,758Liabilities 2017: $9,364Net Assets 2017: $467,3942017Assets 2018: $510,494Liabilities 2018: $38,460Net Assets 2018: $472,0342018Assets 2019: $1,485,596Liabilities 2019: $10,884Net Assets 2019: $1,474,7122019Assets 2020: $1,468,898Liabilities 2020: $2,735Net Assets 2020: $1,466,1632020Assets 2021: $1,855,953Liabilities 2021: $53,692Net Assets 2021: $1,802,2612021Assets 2022: $1,885,019Liabilities 2022: $52,180Net Assets 2022: $1,832,8392022Assets 2023: $1,841,322Liabilities 2023: $55,098Net Assets 2023: $1,786,2242023Assets 2024: $1,617,619Liabilities 2024: $47,872Net Assets 2024: $1,569,7472024

Highlighted filing

2015

Assets$268,146
Liabilities$14,020
Net Assets$254,126

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $85,877Expenses 2011: $70,039Net Income 2011: $15,8382011Revenue 2012: $154,038Expenses 2012: $98,756Net Income 2012: $55,2822012Revenue 2013: $199,336Expenses 2013: $186,364Net Income 2013: $12,9722013Revenue 2014: $242,464Expenses 2014: $194,742Net Income 2014: $47,7222014Revenue 2015: $228,288Expenses 2015: $159,801Net Income 2015: $68,4872015Revenue 2016: $226,978Expenses 2016: $118,299Net Income 2016: $108,6792016Revenue 2017: $261,557Expenses 2017: $156,968Net Income 2017: $104,5892017Revenue 2018: $333,948Expenses 2018: $329,906Net Income 2018: $4,0422018Revenue 2019: $1,258,008Expenses 2019: $256,052Net Income 2019: $1,001,9562019Revenue 2020: $202,905Expenses 2020: $202,321Net Income 2020: $5842020Revenue 2021: $474,684Expenses 2021: $103,747Net Income 2021: $370,9372021Revenue 2022: $307,605Expenses 2022: $277,027Net Income 2022: $30,5782022Revenue 2023: $416,253Expenses 2023: $462,905Net Income 2023: -$46,6522023Revenue 2024: $551,363Expenses 2024: $762,841Net Income 2024: -$211,4782024

Highlighted filing

2015

Revenue$228,288
Expenses$159,801
Net Income$68,487
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Aug 12, 2016
Return Version
2015v2.1
Gross Receipts
$363,306
Mission and Program Overview

Mission

Our mission is to inspire public appreciation and stewardship of the natural resources and cultural heritage of the san mateo coast by supporting vital educational and interpretive programs and projects at fifteen california state parks.

Our mission is to inspire public appreciation and stewardship of the natural resources and cultural heritage of the san mateo coast by supporting vital education and interpretation programs and projects at fifteen california state parks.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$128,520$180,129▲ $51,609
Inventories for Sale or Use$70,197$88,017▲ $17,820
Prepaid Expenses and Deferred Charges$5,312--
Accounts Receivable$32--
Total Assets$204,061$268,146▲ $64,085
Liabilities
Accounts Payable and Accrued Expenses$18,422$14,020▼ $4,402
Total Liabilities$18,422$14,020▼ $4,402
Net Assets / Fund Balance
Unrestricted Net Assets$77,067$157,084▲ $80,017
Temporarily Rstr Net Assets$108,572$97,042▼ $11,530
Total Net Assets Fund Balance$185,639$254,126▲ $68,487
Total Liabilities and Net Assets / Fund Balance$204,061$268,146▲ $64,085
Compensation and Service Providers

Board Members and Trustees

NameTitle
Richard MohrPresident
Anne KangMember
Fred BockmanMember
Janet OultonMember
Pamela KochMember
Richard LohmanMember
Suzanne BlackMember (may-
Charles ClarkMember (nov-
John FoxSecretary (j
Gwendolyn BarnhardtSecretary (m
Michael BraudeTreasurer
Shirley BentsonTreasurer (2
Revenue and Support

Revenue Composition

Contributions and Grants
$118,191
Program Service Revenue
$0
Investment Income
$144
Other Revenue
$109,953
All Other Contributions
$43,212
Change in Net Assets
$68,487
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$87,438
Salaries, Compensation, and Employee Benefits$39,942
Other Expenses$32,421
Total Fundraising Expense$4,375
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$87,438--$87,438
Other Salaries and Wages$31,881$3,542-$35,423
Office Expenses-$19,225-$19,225
Insurance$2,505$909$727$4,141
Payroll Taxes$2,963$329-$3,292
Other Employee Benefits$1,104$123-$1,227
All Other Expenses$245$792-$1,037
Other Expenses$1,392$1,797$822$822
Advertising--$632$632
Total Functional Expenses$128,608$26,818$4,375$159,801
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
California State ParksSacramento, CAGovSee Part Iv$87,438
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$1,585
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Park Ac$50,565-$1,000-
Total Events$50,565-$1,585$-1,585
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
No
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, Page 6, Part VI, Line 11B

Prior to being filed, a completed draft of the organization's annual federal and state information return is provided via email to all current directors to be reviewed for accuracy and completeness. Any questions that arise during this review process are resolved prior to the filing of the form.

Form 990, Page 6, Part VI, Line 12C

Conflict of interest statements are completed annually by each director (i.e., member of the board of directors) and posted in the document archive of the organization that is accessible for review by all directors. A potential personal conflict is to be disclosed by a director or may be raised by a fellow director. The procedure for compliance is stated in the conflict of interest policy. No conflicts of interest were identified in the proceedings of the board or in the conduct of the organization's business in 2015.

Form 990, Page 6, Part VI, Line 19

The organization's governing documents and annual information returns are available to the public upon request. In addition, form 990 is available to the public on the organization's website.

Filing and Contact Details

Filer

Filer Name
Coastside State Parks Association
EIN
94-3130418
Phone
4082240268
Address
1 NEW YEARS CREEK ROAD, PESCADERO, CA 94060

Signing Officer

Name
Shirley Bentson
Title
Treasurer (2016)
Phone
4082240268
Signed
2016-08-12

Organization Details

Principal Officer
Shirley Bentson
Formed
1990
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
11
Employees
2
Volunteers
11

Preparer

Firm
Parsons Accounting and Tax Services
Address
721 PURISSIMA ST STE C, HALF MOON BAY, CA 94019-1934
Preparer
John Parsons
Phone
6507260640
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Our mission is to inspire public appreciation and stewardship of the natural resources and cultural heritage of the san mateo coast by supporting vital education and interpretation programs and projects at fifteen california state parks.

Form 990, Page 2, Part III, Line 4A

Colonies of northern elephant seals) and pigeon point light station (home to one of the tallest lighthouses in america and its first-order fresnel lens). Park volunteers require both initial and on-going training. California state park programs supported by coastside state parks association in 2015: ao nuevo state reserve - extension of the equal access boardwalk at bight beach and construction of a new viewing bench. - purchase & installation of permanent telescopes, mounting to accomodate both standing adults and young children and people in wheelchairs. - material to stabilize the slanted viewing deck at franklin point, correcting footings. Half moon bay state beach - new pre-fab shed in campground to house firewood, funded by firewood sales. - purchased tools, a tool shed and gardening supplies in support of native plant nursery. - purchased of lumber & hardware for work tables and raised beds for native plant nursery. Pescadero marsh nature preserve - purchased materials to replace bench and display platform. - replaced stairway from parking lot to pedestrian walkway beside hwy 1. - repaired stairway at north end of highway bridge over pescadero creek. Pigeon point light station state historic park - removal of deteriorated & non-ada compliant fence and boardwalk along road to the fog signal building that passes between the lighthouse and the hostel. All parks: - docent training and enhancement education. - interpretation supplies, displays, and video equipment and close captioning on tapes.

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IRS990/Desc0INTERPRETIVE PROGRAMS - EXPENSES ASSOCIATED WITH INTERPRETIVE EFFORTS SUCH AS JR. RANGER AND JR. LIFEGUARD PROGRAMS, CAMPFIRE TALKS, INTERPRETIVE SIGNS AND PHOTOS, AND RESEARCH ON PARK HISTORY. EDUCATION - PROVIDE PARK VISITORS WITH OPPORTUNITY FOR CONTINUED LEARNING ON VARIOUS ASPECTS OF THE STATE PARKS WE SUPPORT THROUGH EDUCATIONAL MATERIALS AVAILABLE IN FOUR PARK STORES. DOCENT PROGRAM - FOUR OF THE STATE PARKS WE SUPPORT RELY ON TRAINED VOLUNTEERS TO PROVIDE INTERPRETATION FOR PARK VISITORS. THESE PARKS INCLUDE AO NUEVO STATE PARK (HOME TO ONE OF THE LARGEST MAINLAND BREEDING COLONIES OF NORTHERN ELEPHANT SEALS) AND PIGEON POINT LIGHT STATION (HOME TO ONE OF THE TALLEST LIGHTHOUSES IN AMERICA AND ITS FIRST-ORDER FRESNEL LENS). PARK VOLUNTEERS REQUIRE BOTH INITIAL AND ON-GOING TRAINING. CALIFORNIA STATE PARK PROGRAMS SUPPORTED BY COASTSIDE STATE PARKS ASSOCIATION IN 2015: AO NUEVO STATE RESERVE - EXTENSION OF THE EQUAL ACCESS BOARDWALK AT BIGHT BEACH AND CONSTRUCTION OF A NEW VIEWING BENCH. - PURCHASE & INSTALLATION OF PERMANENT TELESCOPES, MOUNTING TO ACCOMODATE BOTH STANDING ADULTS AND YOUNG CHILDREN AND PEOPLE IN WHEELCHAIRS. - MATERIAL TO STABILIZE THE SLANTED VIEWING DECK AT FRANKLIN POINT, CORRECTING FOOTINGS. HALF MOON BAY STATE BEACH - NEW PRE-FAB SHED IN CAMPGROUND TO HOUSE FIREWOOD, FUNDED BY FIREWOOD SALES. - PURCHASED TOOLS, A TOOL SHED AND GARDENING SUPPLIES IN SUPPORT OF NATIVE PLANT NURSERY. - PURCHASED OF LUMBER & HARDWARE FOR WORK TABLES AND RAISED BEDS FOR NATIVE PLANT NURSERY. PESCADERO MARSH NATURE PRESERVE - PURCHASED MATERIALS TO REPLACE BENCH AND DISPLAY PLATFORM. - REPLACED STAIRWAY FROM PARKING LOT TO PEDESTRIAN WALKWAY BESIDE HWY 1. - REPAIRED STAIRWAY AT NORTH END OF HIGHWAY BRIDGE OVER PESCADERO CREEK. PIGEON POINT LIGHT STATION STATE HISTORIC PARK - REMOVAL OF DETERIORATED & NON-ADA COMPLIANT FENCE AND BOARDWALK ALONG ROAD TO THE FOG SIGNAL BUILDING THAT PASSES BETWEEN THE LIGHTHOUSE AND THE HOSTEL. ALL PARKS: - DOCENT TRAINING AND ENHANCEMENT EDUCATION. - INTERPRETATION SUPPLIES, DISPLAYS, AND VIDEO EQUIPMENT AND CLOSE CAPTIONING ON TAPES.
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IRS990/MissionDesc0OUR MISSION IS TO INSPIRE PUBLIC APPRECIATION AND STEWARDSHIP OF THE NATURAL RESOURCES AND CULTURAL HERITAGE OF THE SAN MATEO COAST BY SUPPORTING VITAL EDUCATION AND INTERPRETATION PROGRAMS AND PROJECTS AT FIFTEEN CALIFORNIA STATE PARKS.
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0SEE PART IV
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0CALIFORNIA STATE PARKS
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IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt01416 9TH STREET
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0COASTSIDE STATE PARKS ASSOCIATION PROVIDES FUNDING TO SUPPORT THE EDUCATION AND INTERPRETIVE EFFORTS OF 15 CALIFORNIA STATE PARKS. MOST OFTEN, THIS TAKES THE FORM OF REIMBURSING STATE PARKS STAFF FOR PROGRAM RELATED EXPENDITURES OR PAYING DIRECTLY FOR PROGRAM RELATED ITEMS. RECEIPTS AND INVOICES FOR THESE EXPENSES ALONG WITH APPROPRIATE APPROVAL MUST BE RECEIVED BEFORE FUNDS ARE DISBURSED.
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt1THE PURPOSE OF THE ASSISTANCE IS TO PROVIDE GENERAL SUPPORT FOR EDUCATION AND INTERPRETIVE EFFORTS IN 15 CALIFORNIA STATE PARKS THAT OTHERWISE WOULD BE UNFUNDED OR WOULD COME AT THE EXPENSE OF OTHER STATE PARK EFFORTS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE I, PAGE 4, PART IV
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OUR MISSION IS TO INSPIRE PUBLIC APPRECIATION AND STEWARDSHIP OF THE NATURAL RESOURCES AND CULTURAL HERITAGE OF THE SAN MATEO COAST BY SUPPORTING VITAL EDUCATION AND INTERPRETATION PROGRAMS AND PROJECTS AT FIFTEEN CALIFORNIA STATE PARKS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1COLONIES OF NORTHERN ELEPHANT SEALS) AND PIGEON POINT LIGHT STATION (HOME TO ONE OF THE TALLEST LIGHTHOUSES IN AMERICA AND ITS FIRST-ORDER FRESNEL LENS). PARK VOLUNTEERS REQUIRE BOTH INITIAL AND ON-GOING TRAINING. CALIFORNIA STATE PARK PROGRAMS SUPPORTED BY COASTSIDE STATE PARKS ASSOCIATION IN 2015: AO NUEVO STATE RESERVE - EXTENSION OF THE EQUAL ACCESS BOARDWALK AT BIGHT BEACH AND CONSTRUCTION OF A NEW VIEWING BENCH. - PURCHASE & INSTALLATION OF PERMANENT TELESCOPES, MOUNTING TO ACCOMODATE BOTH STANDING ADULTS AND YOUNG CHILDREN AND PEOPLE IN WHEELCHAIRS. - MATERIAL TO STABILIZE THE SLANTED VIEWING DECK AT FRANKLIN POINT, CORRECTING FOOTINGS. HALF MOON BAY STATE BEACH - NEW PRE-FAB SHED IN CAMPGROUND TO HOUSE FIREWOOD, FUNDED BY FIREWOOD SALES. - PURCHASED TOOLS, A TOOL SHED AND GARDENING SUPPLIES IN SUPPORT OF NATIVE PLANT NURSERY. - PURCHASED OF LUMBER & HARDWARE FOR WORK TABLES AND RAISED BEDS FOR NATIVE PLANT NURSERY. PESCADERO MARSH NATURE PRESERVE - PURCHASED MATERIALS TO REPLACE BENCH AND DISPLAY PLATFORM. - REPLACED STAIRWAY FROM PARKING LOT TO PEDESTRIAN WALKWAY BESIDE HWY 1. - REPAIRED STAIRWAY AT NORTH END OF HIGHWAY BRIDGE OVER PESCADERO CREEK. PIGEON POINT LIGHT STATION STATE HISTORIC PARK - REMOVAL OF DETERIORATED & NON-ADA COMPLIANT FENCE AND BOARDWALK ALONG ROAD TO THE FOG SIGNAL BUILDING THAT PASSES BETWEEN THE LIGHTHOUSE AND THE HOSTEL. ALL PARKS: - DOCENT TRAINING AND ENHANCEMENT EDUCATION. - INTERPRETATION SUPPLIES, DISPLAYS, AND VIDEO EQUIPMENT AND CLOSE CAPTIONING ON TAPES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRIOR TO BEING FILED, A COMPLETED DRAFT OF THE ORGANIZATION'S ANNUAL FEDERAL AND STATE INFORMATION RETURN IS PROVIDED VIA EMAIL TO ALL CURRENT DIRECTORS TO BE REVIEWED FOR ACCURACY AND COMPLETENESS. ANY QUESTIONS THAT ARISE DURING THIS REVIEW PROCESS ARE RESOLVED PRIOR TO THE FILING OF THE FORM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICT OF INTEREST STATEMENTS ARE COMPLETED ANNUALLY BY EACH DIRECTOR (I.E., MEMBER OF THE BOARD OF DIRECTORS) AND POSTED IN THE DOCUMENT ARCHIVE OF THE ORGANIZATION THAT IS ACCESSIBLE FOR REVIEW BY ALL DIRECTORS. A POTENTIAL PERSONAL CONFLICT IS TO BE DISCLOSED BY A DIRECTOR OR MAY BE RAISED BY A FELLOW DIRECTOR. THE PROCEDURE FOR COMPLIANCE IS STATED IN THE CONFLICT OF INTEREST POLICY. NO CONFLICTS OF INTEREST WERE IDENTIFIED IN THE PROCEEDINGS OF THE BOARD OR IN THE CONDUCT OF THE ORGANIZATION'S BUSINESS IN 2015.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION'S GOVERNING DOCUMENTS AND ANNUAL INFORMATION RETURNS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, FORM 990 IS AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.62$0.05$1.57$0.55$0.76$0.21
2023Detailed filing. Detailed filing data is available for this year.$1.84$0.06$1.79$0.42$0.46$0.05
2022Detailed filing. Detailed filing data is available for this year.$1.89$0.05$1.83$0.31$0.28$0.03
2021Detailed filing. Detailed filing data is available for this year.$1.86$0.05$1.80$0.47$0.10$0.37
2020Detailed filing. Detailed filing data is available for this year.$1.47$0.00$1.47$0.20$0.20$0.00
2019Detailed filing. Detailed filing data is available for this year.$1.49$0.01$1.47$1.26$0.26$1.00
2018Detailed filing. Detailed filing data is available for this year.$0.51$0.04$0.47$0.33$0.33$0.00
2017Detailed filing. Detailed filing data is available for this year.$0.48$0.01$0.47$0.26$0.16$0.10
2016Detailed filing. Detailed filing data is available for this year.$0.37$0.01$0.36$0.23$0.12$0.11
2015Detailed filing. Detailed filing data is available for this year.$0.27$0.01$0.25$0.23$0.16$0.07
2014Summary only. Only limited summary data is available for this year.$0.20$0.02$0.19$0.24$0.19$0.05
2013Summary only. Only limited summary data is available for this year.$0.16$0.02$0.14$0.20$0.19$0.01
2012Summary only. Only limited summary data is available for this year.$0.13$0.00$0.12$0.15$0.10$0.06
2011Summary only. Only limited summary data is available for this year.$0.07$0.00$0.09$0.07$0.02