Civic Intelligence

Viewpoint Educational Foundation

990 • Fiscal year 2018 • EIN 95-2242261

Jul 01, 2017 to Jun 30, 2018 • Filed on Apr 19, 2019

23620 Mulholland HwyCalabasas, CA 91302

(818) 591-6500

Siviq Scores

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

Liabilities / Assets

73rd percentile

0.60x

Higher debt load relative to assets than 73% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Liabilities / Revenue

79th percentile

1.45x

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

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Net Margin

23rd percentile

-1.8%

Higher net margin than 23% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Source year 2018

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2018

Asset Growth

69th percentile

7.1%

Faster asset growth than 69% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Revenue Growth

25th percentile

-1.6%

Faster revenue growth than 25% of similar nonprofits.

2018 filings • 501(c)3 • $100M-$250M nonprofits • Annualized from 2017 to 2018

Assets

Up

$125,835,562

Up $8,302,597 (+7.1%) from 2017

Net Assets

Up

$50,130,160

Up $28,204 (+0.1%) from 2017

Liabilities

Up

$75,705,402

Up $8,274,393 (+12%) from 2017

Revenue

Down

$52,238,571

Down $832,490 (-1.6%) from 2017

Expenses

Up

$53,179,750

Up $1,416,304 (+2.7%) from 2017

Net Income

Down

-$941,179

Down $2,248,794 (-172%) from 2017

Historical Trend

Balance Sheet Trend

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

$200M$150M$100M$50M$0Assets 2010: $79,434,110Liabilities 2010: $48,447,184Net Assets 2010: $30,986,9262010Assets 2011: $91,393,610Liabilities 2011: $53,251,709Net Assets 2011: $38,141,9012011Assets 2012: $87,977,915Liabilities 2012: $51,424,965Net Assets 2012: $36,552,9502012Assets 2013: $90,847,949Liabilities 2013: $52,171,740Net Assets 2013: $38,676,2092013Assets 2014: $103,322,754Liabilities 2014: $60,855,379Net Assets 2014: $42,467,3752014Assets 2015: $113,047,153Liabilities 2015: $68,574,234Net Assets 2015: $44,472,9192015Assets 2016: $115,825,737Liabilities 2016: $68,160,701Net Assets 2016: $47,665,0362016Assets 2017: $117,532,965Liabilities 2017: $67,431,009Net Assets 2017: $50,101,9562017Assets 2018: $125,835,562Liabilities 2018: $75,705,402Net Assets 2018: $50,130,1602018Assets 2019: $127,223,042Liabilities 2019: $75,508,671Net Assets 2019: $51,714,3712019Assets 2020: $121,963,891Liabilities 2020: $69,047,403Net Assets 2020: $52,916,4882020Assets 2021: $147,164,644Liabilities 2021: $92,220,188Net Assets 2021: $54,944,4562021Assets 2022: $149,987,124Liabilities 2022: $93,642,804Net Assets 2022: $56,344,3202022Assets 2023: $157,080,972Liabilities 2023: $99,370,078Net Assets 2023: $57,710,8942023Assets 2024: $168,607,954Liabilities 2024: $102,586,234Net Assets 2024: $66,021,7202024

Highlighted filing

2018

Assets$125,835,562
Liabilities$75,705,402
Net Assets$50,130,160

Operations Trend

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

$80M$60M$40M$20M$0-$20MExpenses 2010: $34,960,9372010Expenses 2011: $36,421,5132011Expenses 2012: $42,405,0852012Expenses 2013: $41,989,1432013Revenue 2014: $45,631,497Expenses 2014: $43,441,629Net Income 2014: $2,189,8682014Revenue 2015: $48,476,727Expenses 2015: $46,886,725Net Income 2015: $1,590,0022015Revenue 2016: $52,468,814Expenses 2016: $49,545,637Net Income 2016: $2,923,1772016Revenue 2017: $53,071,061Expenses 2017: $51,763,446Net Income 2017: $1,307,6152017Revenue 2018: $52,238,571Expenses 2018: $53,179,750Net Income 2018: -$941,1792018Revenue 2019: $53,551,378Expenses 2019: $53,178,249Net Income 2019: $373,1292019Revenue 2020: $55,390,193Expenses 2020: $55,389,350Net Income 2020: $8432020Revenue 2021: $51,317,532Expenses 2021: $53,996,361Net Income 2021: -$2,678,8292021Revenue 2022: $62,182,085Expenses 2022: $57,091,670Net Income 2022: $5,090,4152022Revenue 2023: $61,690,381Expenses 2023: $62,272,871Net Income 2023: -$582,4902023Revenue 2024: $72,842,231Expenses 2024: $67,755,540Net Income 2024: $5,086,6912024

Highlighted filing

2018

Revenue$52,238,571
Expenses$53,179,750
Net Income-$941,179
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Apr 19, 2019
Return Version
2017v2.3
Gross Receipts
$52,719,880
Mission and Program Overview

Mission

Viewpoint school is a welcoming, vibrant, and collaborative community that offers a challenging and enriched college preparatory education in a nurturing environment for students in kindergarten through twelfth grade. The school embraces students and families from diverse cultures of the world and teaches the history and wisdom of these traditions.viewpoint inspires a love of learning and develops those qualities which provide strength and direction for a lifetime. The school promotes among its students respect, integrity, responsibility, and optimism. The school celebrates its love of country by commemorating our nation's holidays and honoring its finest traditions. Viewpoint affirms in its assemblies and programs the ethical principles inherent in all religions. Viewpoint's students learn the importance of service to others and to the greater community with the expectation that this introduction becomes a lifelong commitment.

The school provides educational services for students in kindergarten through 12th grade.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$71,799,832$68,704,324▼ $3,095,508
Savings and Temporary Cash Investments$27,498,820$37,642,509▲ $10,143,689
Investments in Publicly Traded Securities$15,816,412$17,275,238▲ $1,458,826
Pledges and Grants Receivable$867,851$572,245▼ $295,606
Prepaid Expenses and Deferred Charges$374,699$305,243▼ $69,456
Accounts Receivable$35,665$114,133▲ $78,468
Inventories for Sale or Use$34,696$37,663▲ $2,967
Total Assets$117,532,965$125,835,562▲ $8,302,597
Other Assets Total$1,104,990$1,184,207▲ $79,217
Liabilities
Tax Exempt Bond Liabilities$39,549,265$38,402,751▼ $1,146,514
Deferred Revenue$20,347,580$29,815,250▲ $9,467,670
Accounts Payable and Accrued Expenses$2,963,852$2,763,434▼ $200,418
Mortgage Notes Payable Secured by Investment Property$2,772,070$2,689,905▼ $82,165
Other Liabilities$1,798,242$2,034,062▲ $235,820
Total Liabilities$67,431,009$75,705,402▲ $8,274,393
Net Assets / Fund Balance
Unrestricted Net Assets$42,677,508$42,557,902▼ $119,606
Permanently Rstr Net Assets$3,821,262$3,995,086▲ $173,824
Temporarily Rstr Net Assets$3,603,186$3,577,172▼ $26,014
Total Net Assets Fund Balance$50,101,956$50,130,160▲ $28,204
Total Liabilities and Net Assets / Fund Balance$117,532,965$125,835,562▲ $8,302,597

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$57,331,544$25,731,680$83,063,224
Land$9,540,492-$9,540,492
Equipment$1,772,593$7,694,468$9,467,061
Other Land Buildings$59,695$1,062,951$1,122,646

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$15,794,085$818,098▲ $1,364,970$556,067$17,421,086
2016$14,303,220$500,305▲ $1,515,168$524,608$15,794,085
2015$13,553,297$550,605▲ $566,829$367,511$14,303,220
2014$13,195,301$21,009▲ $660,267$323,280$13,553,297
2013$11,017,555$375,806▲ $1,816,933$14,993$13,195,301
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark MckeeHead of SchoolFT$400,521$39,544$440,065
Robert BryanAssoc Head of SchoolFT$270,620$38,263$308,883
Lissa SholtyCFOFT$259,630$38,340$297,970
Amy MaentzDirector of Strategic PartFT$244,055$30,042$274,097
Laurel Baker TewChief Enrollment OfficerFT$216,435$35,945$252,380
Alan HowieHead of Upper SchoolFT$219,691$16,761$236,452
Joyce GoodmanChief Hr OfficerFT$173,333$33,171$206,504
Patrick MoyalDirector of AthleticsFT$181,568$14,848$196,416
David McadooChief Operations OfficerFT$177,631$16,030$193,661

Board Members and Trustees

NameTitle
Jonathon WolfsonChair
Hale BehzadiVice Chair
Andrew GengosTrustee
Anne LeonettiTrustee
Brian GlicklichTrustee
Brian WynnTrustee
Charles SchetterTrustee
David ZebrackTrustee
Dick RobertsonTrustee
Dirk GatesTrustee
Jay DimaggioTrustee
Jeremy HelfandTrustee
Jill SchechterTrustee
Peggy JonesTrustee
Robert LopataTrustee
Robert WebsterTrustee
Sarah SpanoTrustee
Seth CasdenTrustee
Shelly Sumpter GillyardTrustee
Susan LotwinTrustee
David KirschnerTrustee (starting 9/17)
Frank WatanabeTrustee (starting 9/17)
John NelsonTrustee (starting 9/17)
Kafi BlumenfieldTrustee (starting 9/17)
Tim FishTrustee (starting 9/17)
Michael MurphySecretary

Highest Paid Contractors

ContractorServicesLocationCompensation
Sage Dining Services INCFood Service1402 YORK ROAD SUITE 100, Lutherville, MD 21093$1,161,703
Tumbleweed TransportationBus ServicePO BOX 49291, Los Angeles, CA 90049$525,962
Glaser WeilLegal Services10250 CONSTELLATION BLVD 19TH FLO, Los Angeles, CA 90067$409,292
Pcm-gIt SolutionsFILE 55327, Los Angeles, CA 90074$258,682
Grounds Maintenance ServLandscaping ServicesPO BOX 879, Newbury Park, CA 91319$147,660
Revenue and Support

Revenue Composition

Contributions and Grants
$2,924,250
Program Service Revenue
$48,363,438
Investment Income
$606,539
Other Revenue
$344,344
All Other Contributions
$2,831,250
Change in Net Assets
$-941,179

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded6$106,356Fair Market Value (FMV)
Other Non Cash Contri Table1$402Fair Market Value (FMV)
Total Noncash Contributions7$106,758-

Audited Revenue Reconciliation

Revenue per Audited Statements
$47,862,287
Revenue Not Reported on Financial Statements
$4,376,284
Revenue Not Reported on Form 990
$969,383
Other Revenue Adjustments
$4,376,284
Total Revenue per Audited Statements
$48,831,670
Total Revenue per Form 990
$52,238,571
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$32,825,334
Other Expenses$15,978,132
Grants and Similar Amounts Paid$4,376,284
Total Fundraising Expense$1,430,366
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$21,973,438$2,632,289$701,094$25,306,821
Grants to Domestic Individuals$4,376,284--$4,376,284
Depreciation Depletion$3,643,740$364,374$40,486$4,048,600
Other Employee Benefits$2,728,234$558,168$29,610$3,316,012
Occupancy$2,520,016$252,002$28,000$2,800,018
Payroll Taxes$1,260,954$524,809$47,856$1,833,619
Interest$1,461,818$146,182$16,242$1,624,242
Current Officers, Directors, Trustees, and Key Employees$716,241$601,113$95,909$1,413,263
Pension Plan Contributions$750,424$171,526$33,669$955,619
Information Technology$613,197$309,493$32,069$954,759
Other Expenses$826,332$571,673$300,109$826,332
Insurance$416,816$41,682$4,631$463,129
Office Expenses$365,708$80,511$14,221$460,440
All Other Expenses$221,440$161,406$3,811$386,657
Fees for Services Legal-$349,156-$349,156
Fees for Services Other-$184,845$73,428$258,273
Conferences and Meetings$49,257$60,528$9,231$119,016
Fees for Services Accounting-$55,690-$55,690
Advertising$8,875$28,535-$37,410
Total Functional Expenses$44,655,402$7,093,982$1,430,366$53,179,750

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$53,179,750
Expenses per Audited Statements$48,803,466
Total Expenses per Audited Statements$48,803,466
Expenses Not Reported on Financial Statements$4,376,284
Other Expense Adjustments$4,376,284
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$625,653
Fundraising Direct Expenses$281,309
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Benefit Dance$643,106$550,106$60,091$490,015
Parent Association Events$45,099$45,099$60,472$-15,373
Total Events$718,653$625,653$281,309$344,344
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation Liability$2,034,062

Bond Issues

BondIssuerIssuedIssue PricePurpose
ACalifornia Statewide Communities Development2012-03-21$39,740,000CAPITAL IMPROVEMENTS

Bond Proceeds

BondTotal ProceedsSpentRetiredIssuance Costs
A$39,740,000$33,165,719$952,012$230,000

Bond Financing Compliance

No rebate due
No
Rebate not yet due
No
Form 8038-T filed
No
Gross proceeds invested
No
Gross proceeds invested in GIC
No
Exception to rebate
Yes
Corrective action procedures
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 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, Section B, Line 11B

The draft form 990 was circulated and reviewed in a trustee meeting and posted on the trustee secure web page prior to filing.

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

Situations of actual or potential conflict of interest are to be avoided by all employees and when they arise they must be reported to the head of school. If a conflict is found to exist, the school may take appropriate corrective action.

Form 990, Part VI, Section B, Line 15

The trustee executive committee reviews the executive compensation. For the head of school compensation, the committee engaged outside consultants for "safe harbor and benchmarking analyses. For the associate headmaster and the chief financial officer, the salaries were benchmarked against cais and nais survey data prior to extension of the offers.

Form 990, Part VI, Section C, Line 19

The governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Viewpoint Educational Foundation
EIN
95-2242261
Phone
8185916500
Address
23620 MULHOLLAND HWY, CALABASAS, CA 91302

Signing Officer

Name
Lissa Sholty
Title
CFO
Phone
8185916500
Signed
2019-04-19
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Lissa Sholty
Formed
1961
Legal Domicile
CA
Voting Board Members
26
Independent Board Members
26
Employees
499
Volunteers
180

Preparer

Firm
Armanino Llp
Address
12657 ALCOSTA BLVD STE 500, SAN RAMON, CA 94583-4600
Preparer
Katy Brown
Phone
9257902600
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 1

Viewpoint school is a welcoming, vibrant, and collaborative community that offers a challenging and enriched college preparatory education in a nurturing environment for students in kindergarten through twelfth grade. The school embraces students and families from diverse cultures of the world and teaches the history and wisdom of these traditions. Viewpoint inspires a love of learning and develops those qualities which provide strength and direction for a lifetime. The school promotes among its students respect, integrity, responsibility, and optimism. The school celebrates its love of country by commemorating our nation's holidays and honoring its finest traditions. Viewpoint affirms in its assemblies and programs the ethical principles inherent in all religions. Viewpoint's students learn the importance of service to others and to the greater community with the expectation that this introduction becomes a lifelong commitment. Viewpoint recognizes the uniqueness of each child and is committed to the preservation and development of that individuality.

FORM 990, PART XII, LINE 2C:

The process has not changed from prior year.

Financial Statement Notes

PART V, LINE 4:

The appropriation of endowment funds will be used for general educational program services.

PART X, LINE 2:

The school is a qualified organization exempt from federal income and california franchise taxes under the provisions of sections 501(c)(3) of the internal revenue code and 23701(d) of the california revenue and taxation code, respectively. The school has evaluated its current tax positions and has concluded that as of june 30, 2018 and 2017, the school does not have any significant uncertain tax positions for which a reserve would be necessary.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 4,376,284.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

FINANCIAL AID 4,376,284.

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IRS990/Desc0THE FOUNDATION OPERATES VIEWPOINT SCHOOL, AN INDEPENDENT, COEDUCATIONAL, COLLEGE PREPARATORY DAY SCHOOL WITH STUDENTS IN KINDERGARTEN THROUGH GRADE TWELVE, FOUNDED IN 1961. SITUATED ON A 40-ACRE CAMPUS NESTLED IN THE FOOTHILLS IN CALABASAS, CALIFORNIA, VIEWPOINT IS HOME TO 1,215 STUDENTS, MAKING IT THE FIFTH LARGEST INDEPENDENT SCHOOL IN THE CALIFORNIA ASSOCIATION OF INDEPENDENT SCHOOLS. VIEWPOINT OFFERS 28 ADVANCED PLACEMENT (AP) AND 16 HONORS COURSES, FIELDS MORE THAN 130 ATHLETIC TEAMS FOR BOYS AND GIRLS IN GRADES FIVE THROUGH TWELVE, AND OFFERS A RICH SELECTION OF CORE COURSES, WITH ELECTIVES THAT INCLUDE THEATER, DANCE, COMPUTER ANIMATION, FILMMAKING, OCEANOGRAPHY, ROBOTICS, ADVANCED LANGUAGE STUDIES, AND INTERNATIONAL RELATIONS.VIEWPOINT'S CAREFULLY MAPPED JOURNEY FROM KINDERGARTEN THROUGH GRADE TWELVE EMBRACES MULTI-SENSORY AND HANDS-ON LEARNING, ENCOURAGING COLLABORATION, CREATIVITY, CRITICAL THINKING, COMMUNICATION, AND PROBLEM SOLVING - SKILLS THAT ARE CRITICAL TO SUCCESS IN THE 21ST CENTURY. VIEWPOINT'S EXPERT, IMAGINATIVE, AND CARING EDUCATORS KNOW AND PASSIONATELY BELIEVE IN EACH STUDENT, HELPING EVERY STUDENT TO DISCOVER HIS OR HER DISTINCT VOICE. VIEWPOINT'S BALANCED YET CHALLENGING ACADEMIC PROGRAM PROVIDES OPPORTUNITIES FOR ITS STUDENTS TO GO BEYOND THE CLASSROOM AND THE STANDARD CURRICULUM AND TO STRETCH THEMSELVES IN PURSUIT OF THE ARTS, THE HUMANITIES, MATH, ENGINEERING, SCIENCE, AND ATHLETICS. VIEWPOINT'S STUDENTS ENGAGE WITH THE WORLD AROUND THEM THROUGH SERVICE-LEARNING AND COMMUNITY SERVICE PROGRAMS AND GRADUATE AS LIFELONG LEARNERS AND PRODUCTIVE, ACTIVE CITIZENS WHO SERVE THEIR COMMUNITIES. VIEWPOINT'S GRADUATES ATTEND THE TOP UNIVERSITIES AND ARE WELL-PREPARED TO SUCCEED IN COLLEGE AND IN LIFE.
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE CHAIR
IRS990/Form990PartVIISectionAGrp/TitleTxt2SECRETARY
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IRS990/Form990PartVIISectionAGrp/TitleTxt24TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt25TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt26HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt27ASSOC HEAD OF SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt28CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt29CHIEF ENROLLMENT OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt30DIR OF STRATEGIC PART
IRS990/Form990PartVIISectionAGrp/TitleTxt31CHIEF HR OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt32HEAD OF UPPER SCHOOL
IRS990/Form990PartVIISectionAGrp/TitleTxt33DIRECTOR OF ATHLETICS
IRS990/Form990PartVIISectionAGrp/TitleTxt34CHIEF OPERATIONS OFFICER
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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.$169$103$66.0$72.8$67.8$5.09
2023Detailed filing. Detailed filing data is available for this year.$157$99.4$57.7$61.7$62.3$0.58
2022Detailed filing. Detailed filing data is available for this year.$150$93.6$56.3$62.2$57.1$5.09
2021Detailed filing. Detailed filing data is available for this year.$147$92.2$54.9$51.3$54.0$2.68
2020Detailed filing. Detailed filing data is available for this year.$122$69.0$52.9$55.4$55.4$0.00
2019Detailed filing. Detailed filing data is available for this year.$127$75.5$51.7$53.6$53.2$0.37
2018Detailed filing. Detailed filing data is available for this year.$126$75.7$50.1$52.2$53.2$0.94
2017Detailed filing. Detailed filing data is available for this year.$118$67.4$50.1$53.1$51.8$1.31
2016Detailed filing. Detailed filing data is available for this year.$116$68.2$47.7$52.5$49.5$2.92
2015Detailed filing. Detailed filing data is available for this year.$113$68.6$44.5$48.5$46.9$1.59
2014Detailed filing. Detailed filing data is available for this year.$103$60.9$42.5$45.6$43.4$2.19
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$90.8$52.2$38.7$42.0
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$88.0$51.4$36.6$42.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$91.4$53.3$38.1$36.4
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$79.4$48.4$31.0$35.0