Civic Intelligence

Phyllis Wheatley Homes Inc.

990 • Fiscal year 2018 • EIN 62-0952455

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 15, 2019

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

0.13x

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

56th percentile

0.05x

Higher debt load relative to revenue than 56% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

34th percentile

-1.9%

Higher net margin than 34% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

36th percentile

-2.4%

Faster asset growth than 36% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

48th percentile

2.9%

Faster revenue growth than 48% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets67th percentile

Assets

Down

$229,553

Down $5,565 (-2.4%) from 2017

Net Assets

Down

$199,341

Down $10,568 (-5.0%) from 2017

Liabilities

Up

$30,212

Up $5,003 (+20%) from 2017

Revenue And Expenses
Liabilities / Revenue56th percentileNet Margin34th percentile

Revenue

Up

$598,329

Up $16,705 (+2.9%) from 2017

Expenses

Up

$609,804

Up $36,447 (+6.4%) from 2017

Net Income

Down

-$11,475

Down $19,742 (-239%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth36th 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

2018

Assets$229,553
Liabilities$30,212
Net Assets$199,341
Open 2018 Filing

Operations Trend

Revenue Growth48th 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

2018

Revenue$598,329
Expenses$609,804
Net Income-$11,475
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 15, 2019
Return Version
2018v3.1
Gross Receipts
$598,329
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$48,000$48,000→ $0
Accounts Receivable$17,023$17,098▲ $75
Prepaid Expenses and Deferred Charges$14,431$14,431→ $0
Cash and Non-Interest-Bearing Accounts$4,101$3,992▼ $109
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$235,118$229,553▼ $5,565
Other Assets Total$151,563$146,032▼ $5,531
Liabilities
Other Liabilities$20,912$27,264▲ $6,352
Accounts Payable and Accrued Expenses$3,390$2,948▼ $442
Total Liabilities$24,302$30,212▲ $5,910
Net Assets / Fund Balance
Unrestricted Net Assets$210,816$199,341▼ $11,475
Total Net Assets Fund Balance$210,816$199,341▼ $11,475
Total Liabilities and Net Assets / Fund Balance$235,118$229,553▼ $5,565

Asset Categories

AssetBook ValueDepreciationBasis
Buildings-$811,049$811,049
Other Land Buildings-$258,427$258,427
Land$48,000-$48,000
Other Assets Org$19,285--
Compensation and Service Providers
Top Officer Pay50th 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
$55,287
Program Service Revenue
$542,942
Investment Income
$100
Other Revenue
$0
Change in Net Assets
$-11,475
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$488,282
Salaries, Compensation, and Employee Benefits$121,522
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$133,946$89,298-$223,244
Other Salaries and Wages$59,726$39,818-$99,544
Fees for Services Other$47,401$31,601-$79,002
Office Expenses$28,499$18,999-$47,498
Other Expenses$27,810$18,540-$46,350
Insurance$24,974$16,650-$41,624
Fees for Services Management$20,453$13,636-$34,089
Fees for Services Accounting$8,208$5,472-$13,680
Other Employee Benefits$6,594$4,396-$10,990
Payroll Taxes$6,593$4,395-$10,988
Advertising$694$463-$1,157
Fees for Services Legal$620$413-$1,033
Conferences and Meetings$363$242-$605
Total Functional Expenses$365,881$243,923$0$609,804
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$18,963
Accrued Expenses$7,050
Bank Overdraft$1,251
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
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
2019-11-15
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/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014431
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt014431
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0532000
IRS990/ProgramServiceRevenueGrp/Desc0Laundry
IRS990/ProgramServiceRevenueGrp/Desc1Other Revenue
IRS990/ProgramServiceRevenueGrp/Desc2Program Service Revenue
IRS990/ProgramServiceRevenueGrp/Desc3Stores and Commercial
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0588
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt15744
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2536273
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt3337
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt0588
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt15744
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt2536273
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt3337
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt054094
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt099
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0393726
IRS990/PYProgramServiceRevenueAmt0527431
IRS990/PYRevenuesLessExpensesAmt08267
IRS990/PYSalariesCompEmpBnftPaidAmt0179631
IRS990/PYTotalExpensesAmt0573357
IRS990/PYTotalRevenueAmt0581624
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-11475
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/CurrentTaxYearAmt055287
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt054094
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt0109381
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt00
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt00
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeCYPct00.00000
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.00000
IRS990ScheduleA/PublicSupportTotal509Amt0109381
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt055287
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt054094
IRS990ScheduleA/Total509Grp/TotalAmt0109381
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt055287
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt054094
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0109381
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0811049
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0811049
IRS990ScheduleD/LandGrp/BookValueAmt048000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt048000
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt03525
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt1113695
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt29527
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt319285
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0Mortgage Escrow Deposits
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1Replacement Reserves
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2Residual Receipts
IRS990ScheduleD/OtherAssetsOrgGrp/Desc3Security Deposit
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0258427
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0258427
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt07050
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt11251
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt218963
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED EXPENSES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Bank Overdraft
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Tenant Security Deposits
IRS990ScheduleD/TotalBookValueLandBuildingsAmt048000
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0146032
IRS990ScheduleD/TotalLiabilityAmt027264
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/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0235118
IRS990/TotalAssetsEOYAmt0229553
IRS990/TotalAssetsGrp/BOYAmt0235118
IRS990/TotalAssetsGrp/EOYAmt0229553
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt055287
IRS990/TotalEmployeeCnt04
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0243923
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0365881
IRS990/TotalFunctionalExpensesGrp/TotalAmt0609804
IRS990/TotalGrossUBIAmt0543042
IRS990/TotalLiabilitiesBOYAmt024302
IRS990/TotalLiabilitiesEOYAmt030212
IRS990/TotalLiabilitiesGrp/BOYAmt024302
IRS990/TotalLiabilitiesGrp/EOYAmt030212
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0210816
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0199341
IRS990/TotalProgramServiceExpensesAmt0365881
IRS990/TotalProgramServiceRevenueAmt0542942
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0598329
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0543042
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0235118
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0229553
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0210816
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0199341

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$229,553
Liabilities
$30,212
Net assets
$199,341
Revenue
$598,329
Expenses
$609,804
Net income
-$11,475
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