Civic Intelligence

Alpha Arms Apts

990 • Fiscal year 2017 • EIN 56-1082871

Jul 01, 2016 to Jun 30, 2017 • Filed on Nov 09, 2017

300 East John Street Suite 138Matthews, NC 28105

(704) 228-5415

Siviq Scores

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

Liabilities / Assets

98th percentile

1.22x

Higher debt load relative to assets than 98% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2017

Liabilities / Revenue

94th percentile

8.19x

Higher debt load relative to revenue than 94% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2017

Net Margin

14th percentile

-12%

Higher net margin than 14% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2017

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2017 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2017

Asset Growth

21st percentile

-3.1%

Faster asset growth than 21% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Revenue Growth

38th percentile

0.5%

Faster revenue growth than 38% of similar nonprofits.

2017 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2016 to 2017

Assets

Down

$5,486,415

Down $172,912 (-3.1%) from 2016

Net Assets

Down

-$1,181,729

Down $99,492 (-9.2%) from 2016

Liabilities

Down

$6,668,144

Down $73,420 (-1.1%) from 2016

Revenue

Up

$814,602

Up $3,910 (+0.5%) from 2016

Expenses

Up

$914,094

Up $6,659 (+0.7%) from 2016

Net Income

Down

-$99,492

Down $2,749 (-2.8%) from 2016

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0-$5.0MAssets 2011: $2,242,144Liabilities 2011: $2,686,362Net Assets 2011: -$444,2182011Assets 2012: $6,498,931Liabilities 2012: $6,985,275Net Assets 2012: -$486,3442012Assets 2013: $6,194,721Liabilities 2013: $6,881,332Net Assets 2013: -$686,6112013Assets 2014: $5,998,434Liabilities 2014: $6,862,778Net Assets 2014: -$864,3442014Assets 2015: $5,821,208Liabilities 2015: $6,806,702Net Assets 2015: -$985,4942015Assets 2016: $5,659,327Liabilities 2016: $6,741,564Net Assets 2016: -$1,082,2372016Assets 2017: $5,486,415Liabilities 2017: $6,668,144Net Assets 2017: -$1,181,7292017Assets 2018: $5,312,205Liabilities 2018: $6,607,219Net Assets 2018: -$1,295,0142018Assets 2019: $5,123,813Liabilities 2019: $6,544,891Net Assets 2019: -$1,421,0782019Assets 2020: $4,982,172Liabilities 2020: $6,489,760Net Assets 2020: -$1,507,5882020Assets 2021: $4,866,337Liabilities 2021: $6,394,970Net Assets 2021: -$1,528,6332021Assets 2022: $4,695,512Liabilities 2022: $6,292,490Net Assets 2022: -$1,596,9782022Assets 2023: $4,531,036Liabilities 2023: $6,203,900Net Assets 2023: -$1,672,8642023Assets 2024: $4,408,784Liabilities 2024: $6,145,735Net Assets 2024: -$1,736,9512024Assets 2025: $4,104,412Liabilities 2025: $5,801,786Net Assets 2025: -$1,697,3742025

Highlighted filing

2017

Assets$5,486,415
Liabilities$6,668,144
Net Assets-$1,181,729

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2011: $551,134Expenses 2011: $468,190Net Income 2011: $82,9442011Revenue 2012: $559,543Expenses 2012: $601,669Net Income 2012: -$42,1262012Revenue 2013: $754,347Expenses 2013: $954,614Net Income 2013: -$200,2672013Revenue 2014: $832,986Expenses 2014: $933,900Net Income 2014: -$100,9142014Revenue 2015: $792,798Expenses 2015: $913,948Net Income 2015: -$121,1502015Revenue 2016: $810,692Expenses 2016: $907,435Net Income 2016: -$96,7432016Revenue 2017: $814,602Expenses 2017: $914,094Net Income 2017: -$99,4922017Revenue 2018: $819,797Expenses 2018: $933,082Net Income 2018: -$113,2852018Revenue 2019: $830,954Expenses 2019: $957,018Net Income 2019: -$126,0642019Revenue 2020: $845,241Expenses 2020: $931,751Net Income 2020: -$86,5102020Revenue 2021: $871,065Expenses 2021: $892,110Net Income 2021: -$21,0452021Revenue 2022: $833,615Expenses 2022: $901,960Net Income 2022: -$68,3452022Revenue 2023: $863,412Expenses 2023: $939,298Net Income 2023: -$75,8862023Revenue 2024: $839,431Expenses 2024: $903,518Net Income 2024: -$64,0872024Revenue 2025: $1,219,067Expenses 2025: $1,179,490Net Income 2025: $39,5772025

Highlighted filing

2017

Revenue$814,602
Expenses$914,094
Net Income-$99,492
Jump To
Filing Snapshot
Filing Period
Jul 1, 2016 to Jun 30, 2017
Signed
Nov 9, 2017
Return Version
2016v3.0
Gross Receipts
$814,602
Mission and Program Overview

Mission

To provide safe, sanitary, affordable housing for very low income persons and families.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$5,035,665$4,851,709▼ $183,956
Savings and Temporary Cash Investments$269,278$313,690▲ $44,412
Intangible Assets$269,067$261,593▼ $7,474
Cash and Non-Interest-Bearing Accounts$29,641$23,056▼ $6,585
Prepaid Expenses and Deferred Charges$41,868$18,727▼ $23,141
Accounts Receivable$13,808$17,640▲ $3,832
Total Assets$5,659,327$5,486,415▼ $172,912
Liabilities
Mortgage Notes Payable Secured by Investment Property$6,532,899$6,460,412▼ $72,487
Accounts Payable and Accrued Expenses$135,259$142,972▲ $7,713
Unsecured Notes Loans Payable$43,527$43,527→ $0
Other Liabilities$19,102$15,971▼ $3,131
Deferred Revenue$10,777$5,262▼ $5,515
Total Liabilities$6,741,564$6,668,144▼ $73,420
Net Assets / Fund Balance
Unrestricted Net Assets$-1,082,237$-1,181,729▼ $99,492
Total Net Assets Fund Balance$-1,082,237$-1,181,729▼ $99,492
Total Liabilities and Net Assets / Fund Balance$5,659,327$5,486,415▼ $172,912

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,662,462$2,234,987$6,897,449
Leasehold Improvements$114,235$545,940$660,175
Equipment$33,721$99,892$133,613
Land$41,291-$41,291
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jimmie FordChairman
Hughes JonesDirector
Larry JohnsonDirector
Nicky WilliamsDirector
Rashad HinnantDirector
Thomas BondDirector
Samuel LloydSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$616,256
Program Service Revenue
$198,224
Investment Income
$122
Other Revenue
$0
Change in Net Assets
$-99,492

Audited Revenue Reconciliation

Revenue per Audited Statements
$814,602
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$814,602
Total Revenue per Form 990
$814,602
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$914,094
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$275,949--$275,949
Depreciation Depletion$191,430--$191,430
All Other Expenses$67,897$9,710-$77,607
Fees for Services Management$57,564--$57,564
Insurance$54,057--$54,057
Occupancy$38,641--$38,641
Office Expenses$27,650--$27,650
Other Expenses$22,066--$22,066
Fees for Services Accounting-$7,000-$7,000
Fees for Services Legal$5,090--$5,090
Total Functional Expenses$897,384$16,710$0$914,094

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$914,094
Total Expenses per Audited Statements$914,094
Total Expenses per Form 990$914,094
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$15,971
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The organization has delegated control over management duties to multifamily select, inc. The affordable housing apartment complex is regulated by the u.s. Department of housing and urban development as to rent charges and operating methods. The management company was chosen due to its experience in management under these guidelines.

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

The board of directors reviews form 990 prior to approving the return for filing.

Form 990, Part VI, Section C, Line 19

The information is available upon written request.

Filing and Contact Details

Filer

Filer Name
Alpha Arms Inc
EIN
56-1082871
Phone
7042285415
Address
300 EAST JOHN STREET SUITE 138, MATTHEWS, NC 28105

Signing Officer

Name
Jimmie Ford
Title
Chairman
Phone
9197351222
Signed
2017-11-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jimmie Ford
Formed
1973
Legal Domicile
Nc
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
7

Preparer

Firm
Bernard Robinson & Company Llp
Address
PO BOX 19608, GREENSBORO, NC 27419-9608
Preparer
Casey H Patterson
Phone
3362944494
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

It is the corporation's policy to evaluate all tax positions to identify any that may be considered uncertain. All identified material tax positions are assessed and measured by a "more-likely-than-not" threshold to determine if the tax position is uncertain and what, if any, the effect of the uncertain tax position may have on the financial statements. No material uncertain tax positions were identified for 2017.

Raw XML Appendix380 raw XML fields

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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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/BuildingsGrp/BookValueAmt04662462
IRS990ScheduleD/BuildingsGrp/DepreciationAmt02234987
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt06897449
IRS990ScheduleD/EquipmentGrp/BookValueAmt033721
IRS990ScheduleD/EquipmentGrp/DepreciationAmt099892
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0133613
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0914094
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt041291
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt041291
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0114235
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0545940
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0660175
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt015971
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0TENANT SECURITY DEPOSITS
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0814602
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IT IS THE CORPORATION'S POLICY TO EVALUATE ALL TAX POSITIONS TO IDENTIFY ANY THAT MAY BE CONSIDERED UNCERTAIN. ALL IDENTIFIED MATERIAL TAX POSITIONS ARE ASSESSED AND MEASURED BY A "MORE-LIKELY-THAN-NOT" THRESHOLD TO DETERMINE IF THE TAX POSITION IS UNCERTAIN AND WHAT, IF ANY, THE EFFECT OF THE UNCERTAIN TAX POSITION MAY HAVE ON THE FINANCIAL STATEMENTS. NO MATERIAL UNCERTAIN TAX POSITIONS WERE IDENTIFIED FOR 2017.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt04851709
IRS990ScheduleD/TotalExpensesPerForm990Amt0914094
IRS990ScheduleD/TotalLiabilityAmt015971
IRS990ScheduleD/TotalRevenuePerForm990Amt0814602
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0814602
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0914094
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS DELEGATED CONTROL OVER MANAGEMENT DUTIES TO MULTIFAMILY SELECT, INC. THE AFFORDABLE HOUSING APARTMENT COMPLEX IS REGULATED BY THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AS TO RENT CHARGES AND OPERATING METHODS. THE MANAGEMENT COMPANY WAS CHOSEN DUE TO ITS EXPERIENCE IN MANAGEMENT UNDER THESE GUIDELINES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD OF DIRECTORS REVIEWS FORM 990 PRIOR TO APPROVING THE RETURN FOR FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE INFORMATION IS AVAILABLE UPON WRITTEN REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt05659327
IRS990/TotalAssetsEOYAmt05486415
IRS990/TotalAssetsGrp/BOYAmt05659327
IRS990/TotalAssetsGrp/EOYAmt05486415
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0616256
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt016710
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0897384
IRS990/TotalFunctionalExpensesGrp/TotalAmt0914094
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06741564
IRS990/TotalLiabilitiesEOYAmt06668144
IRS990/TotalLiabilitiesGrp/BOYAmt06741564
IRS990/TotalLiabilitiesGrp/EOYAmt06668144
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-1082237
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1181729
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0897384
IRS990/TotalProgramServiceRevenueAmt0198224
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0122
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0198224
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0814602
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05659327
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05486415
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0-1082237
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0-1181729
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt043527
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt043527
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0300 EAST JOHN STREET SUITE 138
IRS990/USAddress/CityNm0MATTHEWS
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd028105
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt07
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02018-03-14 21:41:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JIMMIE FORD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum09197351222
ReturnHeader/BusinessOfficerGrp/SignatureDt02017-11-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ALPHA ARMS INC
ReturnHeader/Filer/BusinessNameControlTxt0ALPH
ReturnHeader/Filer/EIN0561082871
ReturnHeader/Filer/PhoneNum07042285415
ReturnHeader/Filer/USAddress/AddressLine1Txt0300 EAST JOHN STREET SUITE 138
ReturnHeader/Filer/USAddress/CityNm0MATTHEWS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd028105
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId05324F9E65B22D6C584D48CD72C906D72DEAA35C2
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId064DF6735DBFB82684957141259C0C6A62C07A4A5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt012.198.32.162
ReturnHeader/FilingSecurityInformation/IPDt02017-11-09
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ES
ReturnHeader/FilingSecurityInformation/IPTm015:59:47
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0560571159
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BERNARD ROBINSON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 19608
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GREENSBORO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0274199608
ReturnHeader/PreparerPersonGrp/PhoneNum03362944494
ReturnHeader/PreparerPersonGrp/PreparationDt02017-11-08
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CASEY H PATTERSON
ReturnHeader/ReturnTs02017-11-10T07:13:52-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02016-07-01
ReturnHeader/TaxPeriodEndDt02017-06-30
ReturnHeader/TaxYr02016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$4.10$5.80$1.70$1.22$1.18$0.04
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.41$6.15$1.74$0.84$0.90$0.06
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.53$6.20$1.67$0.86$0.94$0.08
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.70$6.29$1.60$0.83$0.90$0.07
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.87$6.39$1.53$0.87$0.89$0.02
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.98$6.49$1.51$0.85$0.93$0.09
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.12$6.54$1.42$0.83$0.96$0.13
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.31$6.61$1.30$0.82$0.93$0.11
2017Detailed filing. Detailed filing data is available for this year.$5.49$6.67$1.18$0.81$0.91$0.10
2016Detailed filing. Detailed filing data is available for this year.$5.66$6.74$1.08$0.81$0.91$0.10
2015Detailed filing. Detailed filing data is available for this year.$5.82$6.81$0.99$0.79$0.91$0.12
2014Detailed filing. Detailed filing data is available for this year.$6.00$6.86$0.86$0.83$0.93$0.10
2013Summary only. Only limited summary data is available for this year.$6.19$6.88$0.69$0.75$0.95$0.20
2012Summary only. Only limited summary data is available for this year.$6.50$6.99$0.49$0.56$0.60$0.04
2011Summary only. Only limited summary data is available for this year.$2.24$2.69$0.44$0.55$0.47$0.08