Civic Intelligence

Wallis Annenberg Center for the Performing Arts

990 • Fiscal year 2023 • EIN 95-4467830

Sep 01, 2022 to Aug 31, 2023 • Filed on Jul 13, 2024

9390 North Santa Monica BlvdBeverly Hills, CA 90210

(310) 246-3800

Siviq Scores

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

Liabilities / Assets

48th percentile

0.24x

Higher debt load relative to assets than 48% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Liabilities / Revenue

84th percentile

2.16x

Higher debt load relative to revenue than 84% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Net Margin

22nd percentile

-7.2%

Higher net margin than 22% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Top Officer Pay

39th percentile

$292,086

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 3.0% of source-year revenue.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2023

Asset Growth

16th percentile

-3.1%

Faster asset growth than 16% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Revenue Growth

14th percentile

-24%

Faster revenue growth than 14% of similar nonprofits.

2023 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2022 to 2023

Assets

Flat

$86,265,501

Flat from 2023

Net Assets

Flat

$65,541,510

Flat from 2023

Liabilities

Flat

$20,723,991

Flat from 2023

Revenue

Flat

$9,581,007

Flat from 2023

Expenses

Flat

$10,269,974

Flat from 2023

Net Income

Flat

-$688,967

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$100M$50M$0Assets 2011: $41,257,475Liabilities 2011: $1,195,801Net Assets 2011: $40,061,6742011Assets 2012: $49,082,514Liabilities 2012: $2,915,644Net Assets 2012: $46,166,8702012Assets 2013: $70,325,807Liabilities 2013: $22,195,845Net Assets 2013: $48,129,9622013Assets 2014: $94,341,452Liabilities 2014: $16,794,031Net Assets 2014: $77,547,4212014Assets 2015: $91,031,362Liabilities 2015: $14,437,427Net Assets 2015: $76,593,9352015Assets 2016: $85,581,977Liabilities 2016: $12,176,709Net Assets 2016: $73,405,2682016Assets 2017: $81,190,076Liabilities 2017: $13,397,719Net Assets 2017: $67,792,3572017Assets 2018: $78,376,407Liabilities 2018: $14,582,278Net Assets 2018: $63,794,1292018Assets 2019: $79,027,799Liabilities 2019: $16,515,433Net Assets 2019: $62,512,3662019Assets 2020: $79,446,944Liabilities 2020: $18,278,996Net Assets 2020: $61,167,9482020Assets 2021: $86,738,826Liabilities 2021: $23,250,759Net Assets 2021: $63,488,0672021Assets 2022: $89,032,236Liabilities 2022: $22,801,597Net Assets 2022: $66,230,6392022Assets 2023: $86,265,501Liabilities 2023: $20,723,991Net Assets 2023: $65,541,5102023Assets 2023: $86,265,501Liabilities 2023: $20,723,991Net Assets 2023: $65,541,5102023

Highlighted filing

2023

Assets$86,265,501
Liabilities$20,723,991
Net Assets$65,541,510

Operations Trend

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

$60M$40M$20M$0-$20MRevenue 2011: $2,664,146Expenses 2011: $1,208,750Net Income 2011: $1,455,3962011Revenue 2012: $8,210,529Expenses 2012: $2,089,360Net Income 2012: $6,121,1692012Revenue 2013: $4,233,118Expenses 2013: $2,382,856Net Income 2013: $1,850,2622013Revenue 2014: $40,070,392Expenses 2014: $11,030,142Net Income 2014: $29,040,2502014Revenue 2015: $11,608,162Expenses 2015: $12,366,304Net Income 2015: -$758,1422015Revenue 2016: $9,452,117Expenses 2016: $12,652,494Net Income 2016: -$3,200,3772016Revenue 2017: $7,641,024Expenses 2017: $13,625,146Net Income 2017: -$5,984,1222017Revenue 2018: $8,885,970Expenses 2018: $13,134,002Net Income 2018: -$4,248,0322018Revenue 2019: $10,413,630Expenses 2019: $11,695,393Net Income 2019: -$1,281,7632019Revenue 2020: $9,540,743Expenses 2020: $10,885,161Net Income 2020: -$1,344,4182020Revenue 2021: $10,256,946Expenses 2021: $7,936,827Net Income 2021: $2,320,1192021Revenue 2022: $12,657,698Expenses 2022: $9,915,126Net Income 2022: $2,742,5722022Revenue 2023: $9,581,007Expenses 2023: $10,269,974Net Income 2023: -$688,9672023Revenue 2023: $9,581,007Expenses 2023: $10,269,974Net Income 2023: -$688,9672023

Highlighted filing

2023

Revenue$9,581,007
Expenses$10,269,974
Net Income-$688,967
Jump To
Filing Snapshot
Filing Period
Sep 1, 2022 to Aug 31, 2023
Signed
Jul 13, 2024
Return Version
2022v5.0
Gross Receipts
$10,530,435
Mission and Program Overview

Mission

SEE SCHEDULE O

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$65,937,853$63,605,657▼ $2,332,196
Savings and Temporary Cash Investments$67,197$6,121,971▲ $6,054,774
Pledges and Grants Receivable$2,189,251$2,935,628▲ $746,377
Cash and Non-Interest-Bearing Accounts$7,916,430$617,717▼ $7,298,713
Accounts Receivable$166,603$395,258▲ $228,655
Land, Buildings, and Equipment, Net$276,884$208,159▼ $68,725
Prepaid Expenses and Deferred Charges$477,729$88,838▼ $388,891
Inventories for Sale or Use$7,500$0▼ $7,500
Total Assets$89,032,236$86,265,501▼ $2,766,735
Other Assets Total$11,992,789$12,292,273▲ $299,484
Liabilities
Other Liabilities$15,898,369$15,852,679▼ $45,690
Accounts Payable and Accrued Expenses$2,910,758$2,787,498▼ $123,260
Mortgage Notes Payable Secured by Investment Property$1,848,717$1,792,229▼ $56,488
Deferred Revenue$2,143,753$291,585▼ $1,852,168
Total Liabilities$22,801,597$20,723,991▼ $2,077,606
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$55,106,235$52,439,886▼ $2,666,349
Net Assets With Donor Restrictions$11,124,404$13,101,624▲ $1,977,220
Total Net Assets Fund Balance$66,230,639$65,541,510▼ $689,129
Total Liabilities and Net Assets / Fund Balance$89,032,236$86,265,501▼ $2,766,735

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$116,296$2,080,670$2,196,966
Other Land Buildings$48,759$74,641$123,400
Buildings$43,104$55,919$99,023
Investment Program Related Org$63,605,657--
Other Assets Org$436,217--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$9,461,569$882,093▲ $447,849$347,229$10,444,282
2021$4,767,411$5,526,416▼ $626,803$205,455$9,461,569
2020$3,991,463-▲ $873,398$97,450$4,767,411
2019$3,974,723-▲ $203,887$187,147$3,991,463
2018$4,096,343-▲ $65,241$186,861$3,974,723
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Rachel FineExecutive Director & CEO (outgoing)FT$250,027$42,059$292,086
Coy MiddlebrookActing Artistic DirectorFT$122,400$40,425$162,825
Thomas YamamotoCFO/director of Finance anFT$136,237$20,422$156,659
Christine WeilDirector of DevelopmentFT$116,832$19,819$136,651
Michelle WeiselGeneral ManagerFT$109,961$13,165$123,126

Board Members and Trustees

NameTitle
Michael NemeroffChair
David C BohnettChair, Executive Committee
Daphna NazarianCo-chair, Development Committee
Arnold RosensteinExecutive Vice Chair & Ass
Ronald RosenVice Chair Operations, Sec
Susan StraussVice Chair Planning & Assi
Vicki ReynoldsVice Chair, Development
Agnes LewBoard Member
Ahsan AijazBoard Member
Arline PeppBoard Member
Arnon AdarBoard Member
Bruce GoldsmithBoard Member
Carol GoldsmithBoard Member
Chad HummelBoard Member
Cinny KennardBoard Member
Debbie AllenBoard Member
Donald P KivowitzBoard Member
Grant WithersBoard Member
Gregory Annenberg WeingartenBoard Member
Gretchen PaceBoard Member
Halle HammondBoard Member
John BendheimBoard Member
Laura GordonBoard Member
Linda MayBoard Member
Mark LouchheimBoard Member
Meralee GoldmanBoard Member
Nigel LythgoeBoard Member
Pamela BeckBoard Member
Richard S ZimanBoard Member
Ron SimmsBoard Member
Sandra Barros LowyBoard Member
Stephanie VahnBoard Member
Thomas J BlumenthalBoard Member
Wallis AnnenbergBoard Member
Jacqueline AvantBoard Member (outgoing)
Robert Van LeerExecutive Director & CEO
Edward RadaInterim Chief Financial Officer
Jonathan VictorTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Savant Productions INCTheatrical Producer3526 OCEAN VIEW BLVD, Glendale, CA 91208$189,369
Bbb Touring LLCTheatrical Producer1650 BROADWAY 1002, New York, NY 10019$161,868
Rooster Productions LLCTheatrical Producer1001 CANAL BLVD STE B, Richmond, CA 94804$145,318
Eighty-eight Llchershey FelderMusical PerformerPO BOX 20116, Towson, MD 21284$110,607
Revenue and Support

Revenue Composition

Contributions and Grants
$8,915,888
Program Service Revenue
$1,583,794
Investment Income
$450,923
Other Revenue
$-1,369,598
All Other Contributions
$5,497,825
Change in Net Assets
$-688,967

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
Works of Art1$35,000Appraisal
Total Noncash Contributions1$35,000-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,255,236
Salaries, Compensation, and Employee Benefits$5,010,863
Total Fundraising Expense$877,475
Grants and Similar Amounts Paid$3,875
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,662,619$772,875$424,176$3,859,670
Office Expenses$900,729$15,499$63,895$980,123
Fees for Services Other$666,084$194,864-$860,948
Insurance$268,111$218,047$54,242$540,400
Occupancy$350,551$110,156$39,477$500,184
Current Officers, Directors, Trustees, and Key Employees$301,507$87,518$48,033$437,058
Payroll Taxes$253,317$73,530$40,355$367,202
Other Employee Benefits$242,947$70,520$33,466$346,933
Travel$233,176$33,748-$266,924
Information Technology$112,916$105,179$14,495$232,590
All Other Expenses$60,599$44,592$14,678$119,869
Interest$77,545$22,156$11,078$110,779
Other Expenses$41,809$21,533$13,581$76,923
Depreciation Depletion$47,112$18,175$3,436$68,723
Fees for Services Legal$52,189$8,007$7,522$67,718
Fees for Services Accounting$44,742$6,865$6,449$58,056
Grants to Domestic Individuals$3,875--$3,875
Royalties$3,131--$3,131
Total Functional Expenses$7,369,731$2,022,768$877,475$10,269,974
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$949,428
Fundraising Gross Income$56,000
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$2,830,591$56,000$842,941$-786,941
Total Events$2,830,591$56,000$949,428$-893,428
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$15,852,679
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Wallis annenberg and gregory annenberg weingarten (board members of the organization) have a family relationship.

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

The form 990 is prepared by an independent cpa and reviewed by the audit committee. Upon final approval, a copy is made available to the full board of directors before filing with the irs.

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

The wallis' conflict of interest policy is distributed to all board members at the first board meeting of the fiscal year. They return a signed acknowledgment stating they have received and understand the policy. During the year, if a conflict arises, the issue is brought to the attention of either the chairman or president. The issue is vetted by the executive committee, and a member of the committee is appointed to investigate alternatives to the proposed transaction or arrangement. After due diligence has been exercised, the committee will decide, through a majority vote, if the relationship will be entered into by the wallis.

Form 990, Part VI, Section B, Line 15

The board reviews and approves new compensation offerings (including salary and benefits) and any changes to compensation for the organization's executive director and artistic director. In so doing, the board has done the following to ensure the compensation is reasonable: (1) review has been completed by an independent group, which includes board members (who receive no compensation from the organization); (2) the review uses relevant comparability data; and (3) compensation decisions are documented in official board meeting minutes.

Form 990, Part VI, Section C, Line 19

Documents are made available upon request. Form 990 is also made available on guidestar.org. Financial statements and governing documents are available to executive staff, board members, and upon request from the general public. The organization will provide access to these documents as required by law.

Filing and Contact Details

Filer

Filer Name
Wallis Annenberg Center
EIN
95-4467830
Phone
3102463800
Address
9390 NORTH SANTA MONICA BLVD, BEVERLY HILLS, CA 90210

Signing Officer

Name
Robert Van Leer
Title
Executive Director & CEO
Phone
3102463800
Signed
2024-07-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Van Leer
Formed
1994
Legal Domicile
CA
Voting Board Members
35
Independent Board Members
35
Employees
349
Volunteers
38

Preparer

Firm
Cohnreznick Llp
Address
621 CAPITOL MALL SUITE 2150, SACRAMENTO, CA 95814
Preparer
Lori Rothe Yokobosky CPA
Phone
9164429100
Supplemental Narrative

Additional Explanations

FORM 990, PART I & PART III, LINE 1 - ORGANIZATION MISSION:

The mission of the wallis annenberg center for the performing arts ("the wallis") is to create, present and celebrate unique performing arts events and education programs that reflect the rich cultural diversity of our community. Under the leadership of executive director & ceo rachel fine, the wallis brings audiences world-class theater, dance, music, and cinema, and a speaker series featuring many of the world's most talented and sought-after artists. Also offered are arts education and outreach programs that make the performing arts accessible to individuals of all ages and backgrounds. We seek to cultivate a home in the heart of beverly hills where all members of the southern california community can participate in the arts. Since opening its doors in 2013, the wallis has established itself as a major force within the southern california arts landscape. The wallis is a 70,000 square-foot campus that adjoins the historic 1933 beverly hills post office with the state-of-the-art, 500-seat bram goldsmith theater.

FORM 990, PART III, LINE 4A: CORE PROGRAMS

Core programs: our annual mainstage subscription season, which serves 60,000+ audience members from throughout southern california each year, features: theater: we produce plays and musicals, and present productions from theater companies in los angeles, elsewhere in the united states, and abroad. We also develop new works. Music: we present classical and modern chamber music, jazz, piano, and family concerts by master artists from around the world, as well as outstanding, emerging talent. Dance: our dance series features a prestigious roster of established and emerging dance companies, with an emphasis on los angeles-based companies, in addition to acclaimed national and international ensembles. Cinema: we launched film as part of our programming in 2018-19, in partnership with film independent and the los angeles film festival. Arts education: dedicated to fostering inclusion, arts participation and education within the los angeles community; "grow @ the wallis" is now among the most robust arts education programs in southern california, serving more than 10,000 students, teachers, adults, families and seniors each year through programs specifically designed to celebrate the diversity of our city. (1) our school partners program serves 5,000+ prekindergarten through twelfth grade students in underserved communities each year through weekday matinee performances, workshops for teachers, in-school sessions with wallis teaching artists, special events like our annual "careers in the arts day, and opportunities for students and parents to attend shows together. (2) we support the development of young artists ages 13-25 through our young artists program and the wallis studio ensemble, which help young adult theater artists transition into professional careers. (3) we collaborate with local organization the miracle project to offer ongoing theater programs and performance opportunities for young people with autism. (4) we use the arts to foster community and creativity through courses such as "dance sundays" (free, outdoor dance classes open to all community members, taught by wallis board member debbie allen and faculty from her debbie allen dance academy), and "dancing through parkinson's", for parkinson's disease patients and their caregivers, in partnership with invertigo dance theatre. (5) our community partners program distributes more than 1,700 free tickets each year to la-based community service organizations and convenes leaders of these organizations at the wallis to create community and exchange ideas. Advocacy: as a center for the convergence of arts, culture, and civic life, the wallis is an active advocate for the role of the arts in our broader community. We invite the public to convene at the wallis to attend expert panels on topics ranging from women in the arts, to the role of the arts in social activism, to the state of different art forms in los angeles. Our "grow @ the wallis" education and community create opportunities for undeserved and at-risk groups to participate in the arts: ongoing programs serve public k-12 students; adults living with parkinson's disease; constituents of local social service agencies; and youth and adults with autism. We have also created several long-term theater programs that serve veterans reentering civilian life, and previously incarcerated young adults; we work with organizations with expertise serving these demographics to run these special programs.

Financial Statement Notes

PART X, LINE 2:

The wallis is a not-for-profit organization exempt from income taxes under section 501(c)(3) of the internal revenue code (the "irc") and section 23101(d) of the revenue taxation code of california and is a publicly supported organization as described in section 509(a) of the irc. The wallis has no provision for income tax included in the accompanying consolidated financial statements. The wallis has no unrecognized tax benefits at august 31, 2023. The wallis's federal and state income tax returns prior to fiscal years 2020 and 2019, respectively, are closed. Management continually evaluates expiring statutes of limitations, audits, proposed settlements, changes in tax law and new authoritative rulings. When applicable, the organization will recognize interest and penalties associated with tax matters as part of the income tax provision and include accrued interest and penalties with the related tax liability in the consolidated statement of activities.

SCHEDULE D, PART III, LINE 4:

Emmanuel fillion's "exaltation" was specifically commissioned and genuinely handcrafted to celebrate the opening of wallis annenberg center for the performing arts. The distinctive work of art uniquely represents the expressive spirit of the performing arts by paying homage to the world renowned dancer and choreographer, martha graham. The scuplture is on permanent display outdoors in our serene sculpture garden.

SCHEDULE D, PART V, LINE 4:

The wallis is the recipient of proceeds from assets held in trust within permanent endowments of two california philanthropic foundations. The wallis has no say in the return objectives, risk parameters, or investment strategies of these endowments held in trust. Earnings from these endowment funds are committed to the operation and maintenance of the wallis, giving the wallis access to future proceeds of 5-10% of the net assets of the endowment annually, so long as the endowment balances maintained in permanently restricted net assets are not reduced below the combined initial balance of $3,500,000.

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IRS990/Form990PartVIISectionAGrp/PersonNm29RONALD ROSEN
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IRS990/Form990PartVIISectionAGrp/PersonNm34VICKI REYNOLDS
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IRS990/Form990PartVIISectionAGrp/PersonNm39THOMAS YAMAMOTO
IRS990/Form990PartVIISectionAGrp/PersonNm40CHRISTINE WEIL
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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3EXECUTIVE VICE CHAIR & ASS
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt9CO-CHAIR, DEVELOPMENT COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt10CHAIR, EXECUTIVE COMMITTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt12BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt13BOARD MEMBER

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$86.3$20.7$65.5$9.58$10.3$0.69
2023Summary only. Only limited summary data is available for this year.$86.3$20.7$65.5$9.58$10.3$0.69
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.0$22.8$66.2$12.7$9.92$2.74
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$86.7$23.3$63.5$10.3$7.94$2.32
2020Summary only. Only limited summary data is available for this year.$79.4$18.3$61.2$9.54$10.9$1.34
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$79.0$16.5$62.5$10.4$11.7$1.28
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$78.4$14.6$63.8$8.89$13.1$4.25
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$81.2$13.4$67.8$7.64$13.6$5.98
2016Detailed filing. Detailed filing data is available for this year.$85.6$12.2$73.4$9.45$12.7$3.20
2015Summary only. Only limited summary data is available for this year.$91.0$14.4$76.6$11.6$12.4$0.76
2014Detailed filing. Detailed filing data is available for this year.$94.3$16.8$77.5$40.1$11.0$29.0
2013Summary only. Only limited summary data is available for this year.$70.3$22.2$48.1$4.23$2.38$1.85
2012Summary only. Only limited summary data is available for this year.$49.1$2.92$46.2$8.21$2.09$6.12
2011Summary only. Only limited summary data is available for this year.$41.3$1.20$40.1$2.66$1.21$1.46