Civic Intelligence

Phyllis Wheatley Homes Inc.

990 • Fiscal year 2016 • EIN 62-0952455

Jan 01, 2016 to Dec 31, 2016 • Filed on Mar 15, 2017

Organization ProfileN/A
521 Vanderhorst DriveNashville, TN 37207

(615) 259-4332

Siviq Scores

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

Liabilities / Assets

67th percentile

0.16x

Higher debt load relative to assets than 67% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Liabilities / Revenue

59th percentile

0.07x

Higher debt load relative to revenue than 59% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Net Margin

31st percentile

-3.7%

Higher net margin than 31% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Top Officer Pay

49th percentile

$0

Higher top officer pay than 49% of similar nonprofits.

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

2016 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2016

Asset Growth

15th percentile

-11%

Faster asset growth than 15% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Revenue Growth

36th percentile

-3.2%

Faster revenue growth than 36% of similar nonprofits.

2016 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$267,656

Down $34,226 (-11%) from 2015

Net Assets

Up

$225,441

Up $847 (+0.4%) from 2015

Liabilities

Down

$42,215

Down $35,073 (-45%) from 2015

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin31st percentile

Revenue

Down

$582,349

Down $19,031 (-3.2%) from 2015

Expenses

Down

$604,084

Down $1,330 (-0.2%) from 2015

Net Income

Down

-$21,735

Down $17,701 (-439%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth15th percentile

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

$600K$400K$200K$0Assets 2010: $330,420Liabilities 2010: $99,633Net Assets 2010: $230,7872010Assets 2011: $355,994Liabilities 2011: $102,554Net Assets 2011: $253,4402011Assets 2012: $339,657Liabilities 2012: $70,793Net Assets 2012: $268,8642012Assets 2013: $349,556Liabilities 2013: $104,583Net Assets 2013: $244,9732013Assets 2014: $301,718Liabilities 2014: $73,090Net Assets 2014: $228,6282014Assets 2015: $301,882Liabilities 2015: $77,288Net Assets 2015: $224,5942015Assets 2016: $267,656Liabilities 2016: $42,215Net Assets 2016: $225,4412016Assets 2017: $235,118Liabilities 2017: $25,209Net Assets 2017: $209,9092017Assets 2018: $229,553Liabilities 2018: $30,212Net Assets 2018: $199,3412018Assets 2019: $208,048Liabilities 2019: $43,409Net Assets 2019: $164,6392019Assets 2020: $225,618Liabilities 2020: $65,364Net Assets 2020: $160,2542020Assets 2021: $226,198Liabilities 2021: $78,059Net Assets 2021: $148,1392021Assets 2022: $422,612Liabilities 2022: $96,420Net Assets 2022: $326,1922022Assets 2023: $255,874Liabilities 2023: $129,052Net Assets 2023: $126,8222023Assets 2024: $289,699Liabilities 2024: $102,709Net Assets 2024: $186,9902024

Highlighted filing

2016

Assets$267,656
Liabilities$42,215
Net Assets$225,441
Open 2016 Filing

Operations Trend

Revenue Growth36th percentile

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

$1.0M$500K$0-$500KExpenses 2010: $496,1422010Revenue 2011: $527,932Expenses 2011: $505,279Net Income 2011: $22,6532011Expenses 2012: $529,7872012Revenue 2013: $508,656Expenses 2013: $532,547Net Income 2013: -$23,8912013Revenue 2014: $602,292Expenses 2014: $645,570Net Income 2014: -$43,2782014Revenue 2015: $601,380Expenses 2015: $605,414Net Income 2015: -$4,0342015Revenue 2016: $582,349Expenses 2016: $604,084Net Income 2016: -$21,7352016Revenue 2017: $581,624Expenses 2017: $573,357Net Income 2017: $8,2672017Revenue 2018: $598,329Expenses 2018: $609,804Net Income 2018: -$11,4752018Revenue 2019: $612,765Expenses 2019: $647,467Net Income 2019: -$34,7022019Revenue 2020: $615,901Expenses 2020: $620,286Net Income 2020: -$4,3852020Revenue 2021: $611,359Expenses 2021: $623,474Net Income 2021: -$12,1152021Revenue 2022: $819,713Expenses 2022: $641,660Net Income 2022: $178,0532022Revenue 2023: $641,848Expenses 2023: $726,169Net Income 2023: -$84,3212023Revenue 2024: $709,831Expenses 2024: $649,663Net Income 2024: $60,1682024

Highlighted filing

2016

Revenue$582,349
Expenses$604,084
Net Income-$21,735
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Mar 15, 2017
Return Version
2016v3.0
Gross Receipts
$582,349
Mission and Program Overview

Mission

Phyllis Wheatley Homes, Inc. ("Project"), is an 81 unit Apartment complex that provides affordable independent living in an energy efficient, quiet, safe and clean environment.

Phyllis Wheatley Homes, Inc. ("Project"), an apartment project consists of 81 units. The Project offers affordable independent living in an energy efficient, quiet, safe and clean environment.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$36,733$52,841▲ $16,108
Accounts Receivable$41,086$15,069▼ $26,017
Prepaid Expenses and Deferred Charges$14,431$14,431→ $0
Cash and Non-Interest-Bearing Accounts$42,230$10,220▼ $32,010
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$301,882$267,656▼ $34,226
Other Assets Total$167,402$175,095▲ $7,693
Liabilities
Other Liabilities$31,461$31,686▲ $225
Accounts Payable and Accrued Expenses$45,827$10,529▼ $35,298
Total Liabilities$77,288$42,215▼ $35,073
Net Assets / Fund Balance
Unrestricted Net Assets$224,594$225,441▲ $847
Total Net Assets Fund Balance$224,594$225,441▲ $847
Total Liabilities and Net Assets / Fund Balance$301,882$267,656▼ $34,226

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,841$806,208$811,049
Other Land Buildings-$258,427$258,427
Land$48,000-$48,000
Other Assets Org$18,017--
Compensation and Service Providers
Top Officer Pay49th percentile

Board Members and Trustees

NameTitle
Theodore LewisChairman
Cheryl SeayDirector
Clara CopelandDirector
Gloria M LewisDirector
Rev Edwin SandersDirector
Loretta HowellSecretary
Susie McclureTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$525,367
Investment Income
$0
Other Revenue
$56,982
Change in Net Assets
$-21,735
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$457,643
Salaries, Compensation, and Employee Benefits$146,441
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$40,701$84,636-$125,337
Fees for Services Management-$36,825-$36,825
Other Expenses$35,537--$35,537
Insurance$27,354--$27,354
All Other Expenses$14,527--$14,527
Office Expenses-$13,980-$13,980
Payroll Taxes$3,691$7,675-$11,366
Fees for Services Accounting-$10,464-$10,464
Other Employee Benefits$3,162$6,576-$9,738
Fees for Services Other-$7,856-$7,856
Depreciation Depletion$6,475--$6,475
Conferences and Meetings-$1,171-$1,171
Fees for Services Legal-$640-$640
Advertising-$178-$178
Total Functional Expenses$434,083$170,001$0$604,084
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits$20,056
Accrued Expenses$11,630
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
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
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, Line 3: Description of Delegated Duties to Management Company

“Otey's Real Estate Agency, Inc. manages the Project under contract. Otey's Real Estate , Inc. is compensated for services at the rate of 8% of gross collections, as defined, plus an additional sum for accounting services.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“A copy of the 990 is given to the chairman of the board of trustees for review before it is submitted. A copy of the 990 is kept on file in the management agent office and is available upon request.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“The governing documents and policies pertaining to financial statements are disclosed in the footnotes of the financial statements.”

Filing and Contact Details

Filer

Filer Name
Phyllis Wheatley Homes Inc
EIN
62-0952455
Phone
6152594332
Address
521 Vanderhorst Drive, Nashville, TN 37207

Signing Officer

Name
Theodore Lewis
Title
Chairman
Signed
2017-03-15
Discuss with paid preparer
Yes

Organization Details

Formed
1963
Legal Domicile
Tn
Voting Board Members
6
Independent Board Members
6
Employees
4

Preparer

Firm
Hoskins & Company PC
Address
1900 Church Street Suite 200, Nashville, TN 37203
Preparer
Harvey E Hoskins CPA
Phone
6153217333
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IRS990/PayrollTaxesGrp/ProgramServicesAmt03691
IRS990/PayrollTaxesGrp/TotalAmt011366
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014431
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014431
IRS990/PriorPeriodAdjustmentsAmt022582
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/Desc0Laundry
IRS990/ProgramServiceRevenueGrp/Desc1Program Service Revenue
IRS990/ProgramServiceRevenueGrp/Desc2Social Coordinator Grant
IRS990/ProgramServiceRevenueGrp/Desc3Tenant Charges
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0860
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt1502470
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt222037
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0860
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1502470
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt222037
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0474605
IRS990/PYProgramServiceRevenueAmt0601380
IRS990/PYRevenuesLessExpensesAmt0-4034
IRS990/PYSalariesCompEmpBnftPaidAmt0130809
IRS990/PYTotalExpensesAmt0605414
IRS990/PYTotalRevenueAmt0601380
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-21735
IRS990/RegularMonitoringEnfrcInd0false
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt00
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0508656
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0528254
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01036910
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt01036910
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0508656
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0528254
IRS990ScheduleA/Total509Grp/TotalAmt01036910
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0508656
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0528254
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01036910
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt04841
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0806208
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0811049
IRS990ScheduleD/LandGrp/BookValueAmt048000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt048000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt070422
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt174555
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt212101
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt318017
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Mortgage Escrow Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Other Reserves
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Replacement Reserves
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Residual Receipts
IRS990ScheduleD/OtherAssetsOrgGrp/Desc4Security Deposit
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0258427
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0258427
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt011630
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120056
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED EXPENSES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant Security Deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt052841
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0175095
IRS990ScheduleD/TotalLiabilityAmt031686
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Otey's Real Estate Agency, Inc. manages the Project under contract. Otey's Real Estate , Inc. is compensated for services at the rate of 8% of gross collections, as defined, plus an additional sum for accounting services.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A copy of the 990 is given to the chairman of the board of trustees for review before it is submitted. A copy of the 990 is kept on file in the management agent office and is available upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The governing documents and policies pertaining to financial statements are disclosed in the footnotes of the financial statements.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0301882
IRS990/TotalAssetsEOYAmt0267656
IRS990/TotalAssetsGrp/BOYAmt0301882
IRS990/TotalAssetsGrp/EOYAmt0267656
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt00
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0170001
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0434083
IRS990/TotalFunctionalExpensesGrp/TotalAmt0604084
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt077288
IRS990/TotalLiabilitiesEOYAmt042215
IRS990/TotalLiabilitiesGrp/BOYAmt077288
IRS990/TotalLiabilitiesGrp/EOYAmt042215
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0224594
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0225441
IRS990/TotalProgramServiceExpensesAmt0434083
IRS990/TotalProgramServiceRevenueAmt0525367
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0582349
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0582349
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0301882
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0267656
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0224594
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0225441
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt06

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$267,656
Liabilities
$42,215
Net assets
$225,441
Revenue
$582,349
Expenses
$604,084
Net income
-$21,735
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.90$1.03$1.87$7.10$6.50$0.60
2023Detailed filing. Detailed filing data is available for this year.$2.56$1.29$1.27$6.42$7.26$0.84
2022Detailed filing. Detailed filing data is available for this year.$4.23$0.96$3.26$8.20$6.42$1.78
2021Detailed filing. Detailed filing data is available for this year.$2.26$0.78$1.48$6.11$6.23$0.12
2020Detailed filing. Detailed filing data is available for this year.$2.26$0.65$1.60$6.16$6.20$0.04
2019Detailed filing. Detailed filing data is available for this year.$2.08$0.43$1.65$6.13$6.47$0.35
2018Detailed filing. Detailed filing data is available for this year.$2.30$0.30$1.99$5.98$6.10$0.11
2017Detailed filing. Detailed filing data is available for this year.$2.35$0.25$2.10$5.82$5.73$0.08
2016Detailed filing. Detailed filing data is available for this year.$2.68$0.42$2.25$5.82$6.04$0.22
2015Detailed filing. Detailed filing data is available for this year.$3.02$0.77$2.25$6.01$6.05$0.04
2014Detailed filing. Detailed filing data is available for this year.$3.02$0.73$2.29$6.02$6.46$0.43
2013Detailed filing. Detailed filing data is available for this year.$3.50$1.05$2.45$5.09$5.33$0.24
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.40$0.71$2.69$5.30
2011Summary only. Only limited summary data is available for this year.$3.56$1.03$2.53$5.28$5.05$0.23
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.30$1.00$2.31$4.96