2024-11-13T14:20:04-06:00 2023-12-31 721396621 CARR RIGGS & INGRAM LLC 4004 SUMMIT BLVD NE SUITE 800 ATLANTA GA 30319 990 2023-01-01 580684740 GEORGIA INDEPENDENT COLLEGE ASSOCIATION INC GEOR 4042335433 50 HURT PLAZA 655 ATLANTA GA 30303 JENNA COLVIN PRESIDENT 4042335433 2024-11-12 1 1 TIFFANY T ORR CPA P01559485 7703948000 2024-11-12 2023 2024-10-15 13:58:12Z JENNA COLVIN 50 HURT PLAZA 655 ATLANTA GA 30303 4029928 0 X WWW.GEORGIACOLLEGES.ORG X 1956 GA TO RAISE AWARENESS OF GEORGIA'S PRIVATE, LIBERAL ARTS COLLEGES AND UNIVERSITIES; TO INFLUENCE PUBLIC POLICY IN SUPPORT OF HIGHER EDUCATION IN GEORGIA; TO SECURE FUNDS AND OTHER GIFTS FOR THE BENEFIT OF THE MEMBER INSTITUTIONS AND THEIR STUDENTS; TO PROMOTE THE MEMBER INSTITUTIONS AS DISTINCT ALTERNATIVES IN HIGHER EDUCATION. 33 33 5 33 0 0 1030660 1069455 205685 211930 1284713 768257 0 0 2521058 2049642 637692 732026 0 0 618877 636604 0 0 20713 514718 489866 1771287 1858496 749771 191146 17834466 18845633 69989 65673 17764477 18779960 X GEORGIA INDEPENDENT COLLEGE ASSOCIATION, INC ("GICA") SUPPORTS PRIVATE HIGHER EDUCATION IN GEORGIA IN THE AREAS OF PUBLIC POLICY, INCREASED PUBLIC AWARENESS, FUND RAISING FOR STUDENT FINANCIAL AID, AND COLLABORATIVE PROJECTS, IN PARTNERSHIP WITH INSTITUTIONS, BUSINESS AND COMMUNITY LEADERS. 1 0 1457345 732026 20940 GRANTS AND ALLOCATIONS: IN ACCORDANCE WITH THE EXECUTIVE COMMITTEE APPROVED DISTRIBUTION OF FUNDS POLICY OF GICA, ALL UNDESIGNATED FUNDS ARE DISTRIBUTED 60 PERCENT EQUALLY TO THE MEMBER COLLEGES AND 40 PERCENT TO SUCH COLLEGES IN PROPORTION TO TOTAL REGULAR, FULL-TIME UNDERGRADUATE ENROLLMENT IN THE COLLEGES OF ARTS AND SCIENCES. DESIGNATED FUNDS ARE DISTRIBUTED TO THE COLLEGES SPECIFIED BY THE DONOR. 114918 190990 COMPLIANCE COLLABORATIVE PROGRAM: THE COMPLIANCE COLLABORATIVE PROGRAM ("CCP") IS A COLLABORATION OF 14 GICA MEMBER INSTITUTIONS TO ASSIST PARTICIPANTS BY PROVIDING TRAINING AND GUIDANCE REGARDING VARIOUS COMPLIANCE-RELATED ISSUES UNDER THE GUIDANCE OF THE COMPLIANCE PROGRAM DIRECTOR. THE IMMEDIATE AREAS OF FOCUS INCLUDE THE AMERICANS WITH DISABILITIES ACT, TITLE IX, THE CLERY ACT, AND THE VIOLENCE AGAINST WOMEN ACT. HOWEVER, THE EXACT TOPICS WILL SHIFT IN ANY GIVEN YEAR WITH THE NEEDS OF THE PARTICIPATING INSTITUTIONS. 6543 IN 2023, GICA LAUNCHED A MULTIPLE EMPLOYER RETIREMENT PLAN, CALLED A MEP. BY SPONSORING THE MEP, WE MAKE A SHARED ERISA PLAN AVAILABLE TO MEMBER COLLEGES WHERE THEY CAN MOVE THEIR INDIVIDUAL 503(B) OR 401(K) PLANS INTO THE SHARED PLAN. THE MEP OFFERS PARTICIPANTS REDUCED COSTS, SHARED GOVERNANCE, AND COMPREHENSIVE ERISA COMPLIANCE. 1578806 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 11 0 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 33 33 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 GA X JENNA COLVIN 4042335433 50 HURT PLAZA 655 ATLANTA GA 30303 KEITH H SHURBUTT TREASURER 1.00 X X 0 0 0 LINDA BUCHANAN TRUSTEE 1.00 X 0 0 0 JOHN COLEMAN AT LARGE 1.00 X 0 0 0 DEAN COLLINS TRUSTEE 1.00 X 0 0 0 ANNE SKELDER TRUSTEE 1.00 X 0 0 0 JIMMY FLEMING TRUSTEE 1.00 X 0 0 0 CHARLIE HARMAN TRUSTEE 1.00 X 0 0 0 NANCY JUNEAU AT LARGE 1.00 X 0 0 0 DREW VAN HORN CHAIR 1.00 X X 0 0 0 WILLIAM D UNDERWOOD TRUSTEE 1.00 X 0 0 0 LEOCADIA I ZAK VICE CHAIR 1.00 X X 0 0 0 STEPHEN R BRIGGS AT LARGE 1.00 X 0 0 0 STEVE ECHOLS TRUSTEE 1.00 X 0 0 0 GEORGE FRENCH AT LARGE 1.00 X 0 0 0 J DEREK HALVORSON TRUSTEE 1.00 X 0 0 0 RONALD G WHITE TRUSTEE 1.00 X 0 0 0 GREGORY FENVES TRUSTEE 1.00 X 0 0 0 HOWARD MOSBY TRUSTEE 1.00 X 0 0 0 ANTONIO MOLINA AT LARGE 1.00 X 0 0 0 SUSANNA BAXTER TRUSTEE 1.00 X 0 0 0 ROB SCOTT TRUSTEE 1.00 X 0 0 0 DAVID THOMAS TRUSTEE 1.00 X 0 0 0 NICHOLAS LADANY AT LARGE 1.00 X 0 0 0 JAMES F MELLICHAMP TRUSTEE 1.00 X 0 0 0 MARK ROBERTS AT LARGE 1.00 X 0 0 0 DONALD DOWLESS TRUSTEE 1.00 X 0 0 0 ANDY SHEPPARD AT LARGE 1.00 X 0 0 0 ROBERT MYERS TRUSTEE 1.00 X 0 0 0 EMIR CANER TRUSTEE 1.00 X 0 0 0 KEVIN TANNER AT LARGE 1.00 X 0 0 0 BHARATH PARTHASARATHY TRUSTEE 1.00 X 0 0 0 HELENE GAYLE TRUSTEE 1.00 X 0 0 0 MEAGHAN BLIGHT TRUSTEE 1.00 X 0 0 0 JENNA COLVIN PRESIDENT 40.00 X 225488 0 47859 LISA MACKE VICE PRESIDENT 40.00 X 101207 0 48238 326695 0 96097 2 0 1 0 0 901180 168275 1069455 COMPLIANCE COLLABORATIVE ASSESSEM 611710 190990 190990 MEETING FEES 611710 20940 20940 211930 843293 843293 1905250 1980286 -75036 -75036 -75036 2049642 211930 0 768257 732026 732026 326695 261357 55537 9801 127049 101792 22927 2330 45093 36089 7798 1206 105437 84385 18233 2819 32330 25875 5591 864 10080 10080 71126 71126 63176 63176 73059 28932 44127 9918 5705 4039 174 25922 17051 8307 564 24006 16228 7058 720 26224 23595 2539 90 64372 63632 740 1197 810 351 36 6136 2445 3595 96 SPECIAL PROJECTS 93269 93269 MISCELLANEOUS 14636 8183 4453 2000 DUES AND SUBSCRIPTIONS 5187 4748 426 13 PUBLIC AND LEGISLATIVE 1558 1558 1858496 1578806 258977 20713 628604 449497 57400 4600 25659 43948 15771 28296 3821 2947 2071 874 16299902 17489647 805059 828771 17834466 18845633 16531 37295 5000 5909 48458 22469 69989 65673 X 2930502 3144408 14833975 15635552 17764477 18779960 17834466 18845633 191146 824337 0 X X 0 1 X 1 0 X X 24 AGNES SCOTT COLLEGE 580566116 2 1 60974 0 TRUETT MCCONNELL UNIVERSITY 580531392 2 1 3597 0 TOCCOA FALLS COLLEGE 580685908 2 1 4337 0 THOMAS UNIVERSITY 580644897 2 1 3588 0 SPELMAN COLLEGE 580566243 2 1 5618 0 SHORTER UNIVERSITY 582624570 2 1 66768 0 REINHARDT UNIVERSITY 580603153 2 1 4239 0 POINT UNIVERSITY 586044761 2 1 4253 0 PIEDMONT UNIVERSITY 580043198 2 1 67239 0 OGLETHORPE UNIVERSITY 585068698 2 1 71705 0 MOREHOUSE COLLEGE 580566205 2 1 4522 0 MERCER UNIVERSITY 580566167 2 1 130994 0 LIFE UNIVERSITY 581216007 2 0 4101 0 LAGRANGE COLLEGE 580566199 2 1 57042 0 EMORY UNIVERSITY 580566256 2 0 11649 0 EMMANUEL COLLEGE 580633977 2 1 6021 0 COVENANT COLLEGE 430719506 2 1 8027 0 CLARK ATLANTA UNIVERSITY 581825259 2 1 6242 0 BREWTON-PARKER COLLEGE 580619030 2 1 3858 0 BRENAU UNIVERSITY 580566143 2 1 64740 0 BERRY COLLEGE 580566133 2 1 79871 0 ANDREW COLLEGE 580568687 2 1 3503 0 WESLEYAN COLLEGE 580593438 2 1 54904 0 YOUNG HARRIS COLLEGE 580593414 2 1 4234 0 24 732026 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 984485 0 984485 0 1351 0 63176 0 226053 0 693905 0 17151342 0 581122 0 0 0 17732464 0 0 0 0 17732464 0 265987 0 17466477 0 611327 0 0 0 611327 0 693905 589819 611327 611327 0 611327 732026 687777 183074 0 0 0 1602877 611327 611327 100.000000000000 611327 0 1628166 1635418 1393106 1492269 1483835 7632794 0 611327 1016839 6004628 1602877 0 1602877 0 0 7607505 1635418 1393106 1492269 1483835 1602877 PART IV SECTION A LINE 1 THE ARTICLES OF INCORPORATION INDICATE THAT MEMBERSHIP OF THE ASSOCIATION MAY BE EXTENDED TO INDEPENDENT COLLEGES AND UNIVERSITIES THAT MEET THE FOLLOWING CRITERIA: - MEMBERS MUST BE TWO- OR FOUR-YEAR LIBERAL ARTS COLLEGES, GRANTING ASSOCIATE AND/OR BACCALAUREATE DEGREES, AND OFFERING MAJORS IN AT LEAST TEN TRADITIONAL FIELDS OF THE ARTS AND SCIENCES. - MEMBERS MUST BE GRADUATE-ONLY AND ACCREDITED BY THE SOUTHERN ASSOCIATION OF COLLEGES AND SCHOOLS. - MEMBER INSTITUTIONS MUST BE INDEPENDENT, NON PROFIT COLLEGES AND UNIVERSITIES HEADQUARTERED IN GEORGIA, AND MUST NOT RECEIVE SUBSTANTIAL OPERATING FUNDS FROM PUBLIC SOURCES. PART I, LINE 12G, COLUMN IV: THROUGHOUT THE YEAR, THE ORGANIZATION MAY MAKE GRANTS TO NON-MEMBER INSTITUTIONS. PART IV SECTION D LINE 3 THE MAJORITY OF THE BOARD OF TRUSTEES OF GEORGIA INDEPENDENT COLLEGE ASSOCIATION, INC. IS COMPRISED OF THE PRESIDENT OF EACH MEMBER INSTITUTION. AS THE MAJORITY OF THE BOARD IS MADE UP OF OFFICERS OF THE MEMBER ORGANIZATIONS, THE SUPPORTED ORGANIZATIONS MAINTAIN A SIGNIFICANT VOICE IN THE SUPPORTING ORGANIZATION. PART V, SECTION D, LINE 6 THROUGHOUT THE YEAR, THE ORGANIZATION MAY MAKE GRANTS TO NON-MEMBER INSTITUTIONS. PART V SECTION D LINE 8 PRESIDENTS OF THE INDIVIDUAL MEMBER ORGANIZATIONS COMPRISE THE MAJORITY OF THE BOARD OF TRUSTEES WHICH MEETS BI-ANNUALLY. ADDITIONALLY, THE PRESIDENTS ALSO COMPRISE A MAJORITY OF VARIOUS COMMITTEES THAT MEET MORE OFTEN. THE BOARD AND VARIOUS COMMITTEES WORK TO ENSURE THE SUPPORTING ORGANIZATION'S CONTINUED GROWTH. IN TURN, THE SUPPORTING ORGANIZATION DISTRIBUTES AMOUNTS TO SUPPORTED MEMBER ORGANIZATIONS IN ORDER TO SUPPORT VARIOUS SCHOLARSHIPS AND PROGRAMS OF THE MEMBER INSTITUTIONS. THESE SCHOLARSHIPS AND PROGRAMS ARE VITAL IN ATTRACTING THE BEST STUDENTS POSSIBLE AND CONTINUING THE GROWTH OF THE MEMBER INSTITUTIONS. PART IV SECTION A LINE 6 THROUGHOUT THE YEAR, THE ORGANIZATION MAY MAKE GRANTS TO NON-MEMBER INSTITUTIONS. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 37308 86541 123849 1671473 1795322 239766 59942 0 0 233384 234588 235406 239766 943144 1414716 90851 116288 119916 123849 450904 58346 58647 58852 59942 235787 353681 39433 34463 35883 37308 147087 16299902 338200 1541336 626615 63176 17489647 18002782 -1056351 583353 63176 16299902 16030963 95665 2490544 551214 63176 18002782 15444227 35000 1140480 525568 63176 16030963 12512241 250000 3264187 519025 63176 15444227 0.15480 0.13990 0.70530 0 0 3821 2947 874 874 OPERATING LEASE LIABILITIES 22469 22469 X 2867538 824337 56735 881072 1986466 63176 63176 2049642 1852055 56735 56735 1795320 63176 63176 1858496 PART X, LINE 2: UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, GEORGIA INDEPENDENT COLLEGE ASSOCIATION, INC. IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022, GICA DOES NOT HAVE ANY UNRELATED BUSINESS INCOME. GICA UTILIZES THE ACCOUNTING REQUIREMENTS ASSOCIATED WITH UNCERTAINTY IN INCOME TAXES USING THE PROVISIONS OF FASB ASC 740, INCOME TAXES. USING THAT GUIDANCE, TAX POSITIONS INITIALLY NEED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS WHEN IT IS MORE-LIKELY-THAN-NOT THE POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE TAX AUTHORITIES. IT ALSO PROVIDES GUIDANCE FOR DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF DECEMBER 31, 2023 AND 2022, GICA HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART V LINE 4 GICA'S ENDOWMENT CONSISTS OF 16 DONOR-RESTRICTED FUNDS ESTABLISHED FOR THE BENEFIT OF THE MEMBER INSTITUTIONS OF GICA IN ACCORDANCE WITH STIPULATIONS OF THE VARIOUS DONORS. IN ADDITION, GICA HAS ONE BOARD DESIGNATED ENDOWMENT. GICA'S POLICY REQUIRES THAT 4.25% OF THE ENDOWMENT'S ROLLING 12 QUARTER AVERAGE MARKET VALUE WILL BE DETERMINED AND DISTRIBUTED SEMI-ANNUALLY TO SUPPORT THE APPROPRIATE MEMBER INSTITUTIONS AND TO PAY THE FEES AND EXPENSES ASSOCIATED WITH THE FUND. 1 AGNES SCOTT COLLEGE 141 E COLLEGE AVENUE DECATUR GA 30030 580566116 501(C)(3) 60974 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA BERRY COLLEGE 2277 MARTHA BERRY HWY NW MOUNT BERRY GA 301490039 580566133 501(C)(3) 79871 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA BRENAU UNIVERSITY 500 WASHINGTON STREET SE GAINSEVILLE GA 30501 580566143 501(C)(3) 64740 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA CLARK ATLANTA UNIVERSITY 223 JAMES P BRAWLEY DRIVE SW ATLANTA GA 303144389 581825259 501(C)(3) 6242 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA COVENANT COLLEGE 14049 SCENIC HIGHWAY LOOKOUT MOUNTAIN GA 30750 430719506 501(C)(3) 8027 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA EMMANUEL COLLEGE 181 SPRINGS STREET FRANKLIN SPRINGS GA 30639 580633977 501(C)(3) 6021 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA EMORY UNIVERSITY 201 DOWMAN DRIVE ATLANTA GA 30322 580566256 501(C)(3) 11649 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA LAGRANGE COLLEGE 601 BROAD STREET LAGRANGE GA 30240 580566199 501(C)(3) 57042 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA MERCER UNIVERSITY 1501 MERCER UNIVERSITY DRIVE MACON GA 31207 580566167 501(C)(3) 130994 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA OGLETHORPE UNIVERSITY 4484 PEACHTREE ROAD NE ATLANTA GA 30319 585068698 501(C)(3) 71705 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA PIEDMONT UNIVERSITY 165 CENTRAL AVENUE DEMOREST GA 30535 580043198 501(C)(3) 67239 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA SHORTER UNIVERSITY 315 SHORTER AVENUE ROME GA 30165 582624570 501(C)(3) 66768 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA SPELMAN COLLEGE 350 SPELMAN LANE SW ATLANTA GA 303144399 580566243 501(C)(3) 5618 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA WESLEYAN COLLEGE 4760 FORSYTH ROAD MACON GA 31210 580593438 501(C)(3) 54904 0 TO PROVIDE SUPPORT FOR PRIVATE COLLEGES AND UNIVERSITIES IN GEORGIA 13 0 PART I, LINE 2: IN ACCORDANCE WITH THE ASSOCIATION'S DISTRIBUTION OF FUNDS POLICY, 60% OF ALL UNDESIGNATED CONTRIBUTIONS, AS DEFINED, ARE DISTRIBUTED EQUALLY TO MEMBER INSTITUTIONS PARTICIPATING IN AND PAYING DUES RELATED TO THE ASSOCIATION'S FUNDRAISING ACTIVITIES. THE REMAINING 40% IS ALLOCATED TO THESE SAME INSTITUTIONS IN PROPORTION TO THE TOTAL REGULAR FULL-TIME UNDERGRADUATE ENROLLMENT IN THE INSTITUTIONS OF ARTS AND SCIENCES. DESIGNATED FUNDS ARE DISTRIBUTED TO MEMBER INSTITUTIONS AND OTHER INSTITUTIONS AS SPECIFIED BY THE DONORS. 1 X X 0 0 0 0 0 0 0 0 0 JENNA COLVIN PRESIDENT 221528 0 0 0 3960 0 22880 0 24979 0 273347 0 0 0 FORM 990, PART III, LINE 2 IN 2023, GICA LAUNCHED A MULTIPLE EMPLOYER RETIREMENT PLAN. PLEASE SEE DETAILED DESCRIPTION IN PART III, LINE 4C. FORM 990, PART VI, SECTION A, LINE 6 MEMBERS ARE ASSESSED DUES IN ACCORDANCE WITH THE ASSOCIATION'S MEMBER DUES POLICY WHICH STATES ALL MEMBERS ARE ASSESSED DUS TO SUPPORT THE ANNUAL OPERATING BUDGET. THE ASSOCIATION HAD 24 MEMBER COLLEGES AND UNIVERSITIES AT DECEMBER 31, 2023. FORM 990, PART VI, SECTION A, LINE 7A THE EXECUTIVE COMMITTEE ELECTS BOTH MEMBER INSTITUTIONS AND CORPORATE CIVIC BOARD MEMBERS TO THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B PRIOR TO FILING FORM 990, GICA'S MANAGEMENT IS PROVIDED AN ELECTRONIC COPY OF THE FORM 990. FIRST, THE FINANCE COMMITTEE REVIEWS THE FORM 990 AND SUBSEQUENTLY FORWARDS IT TO THE EXECUTIVE COMMITTEE FOR THEIR REVIEW. FINALLY, THE FORM 990 IS REVIEWED BY THE FULL BOARD. QUESTIONS AND COMMENTS ARE RESOLVED TO THE SATISFACTION OF MANAGEMENT AND THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C ALL STAFF AND BOARD MEMBERS SIGN THE CONFLICT OF INTEREST STATEMENT ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 GICA'S COMPENSATION FOR ALL PERSONNEL IS REVIEWED AND APPROVED BY ITS EXECUTIVE COMMITTEE. THIS PROCEDURE IS COMPLETED IN THE ANNUAL BUDGETING PROCESS. THE BUDGET IS DISCUSSED AND APPROVED AT THE BOARD MEETINGS AND DOCUMENTED IN THE MINUTES. THE ORGANIZATION PARTICIPATES IN AN EXTENSIVE NATIONAL COMPENSATION SURVEY OF SIMILAR ORGANIZATIONS AND RECEIVES THE DATA ANNUALLY TO BE ABLE TO USE IT FOR COMPARATIVE PURPOSES. THE SURVEY IS REVIEWED AND UTILIZED FOR THE PURPOSE OF SETTING THE CURRENT PRESIDENT'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 THE GICA'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.