Liabilities / Assets
86th percentile
Higher debt load relative to assets than 86% of similar nonprofits.
EIN 71-0775762 • 501(c)3 • Fort Smith, AR
Profile
Operates low income housing
Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.
Liabilities / Assets
86th percentile
Higher debt load relative to assets than 86% of similar nonprofits.
Liabilities / Revenue
90th percentile
Higher debt load relative to revenue than 90% of similar nonprofits.
Net Margin
55th percentile
Higher net margin than 55% of similar nonprofits.
Top Officer Pay
40th percentile
Higher top officer pay than 40% of similar nonprofits.
Top officer pay equals 0.0% of source-year revenue.
Asset Growth
44th percentile
Faster asset growth than 44% of similar nonprofits.
Revenue Growth
45th percentile
Faster revenue growth than 45% of similar nonprofits.
Assets
Up$1,306,792
Up $18,420 (+1.4%) from 2022
Liabilities
Down$808,371
Down $23,332 (-2.8%) from 2022
Net Assets
Up$498,421
Up $41,752 (+9.1%) from 2022
Revenue
Up$603,974
Up $26,507 (+4.6%) from 2022
Expenses
Up$562,222
Up $39,214 (+7.5%) from 2022
Net Income
Down$41,752
Down $12,707 (-23%) from 2022
Most recent year
2023 • Form 990Detailed filing. Detailed filing data is available for this year.
Operates low income housing
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Land, Buildings, and Equipment, Net | $1,030,188 | $994,864 | ▼ $35,324 |
| Savings and Temporary Cash Investments | $127,882 | $129,638 | ▲ $1,756 |
| Prepaid Expenses and Deferred Charges | $42,019 | $71,156 | ▲ $29,137 |
| Cash and Non-Interest-Bearing Accounts | $31,305 | $50,316 | ▲ $19,011 |
| Intangible Assets | $35,934 | $33,942 | ▼ $1,992 |
| Accounts Receivable | $21,044 | $26,876 | ▲ $5,832 |
| Total Assets | $1,288,372 | $1,306,792 | ▲ $18,420 |
| Liabilities | |||
| Mortgage Notes Payable Secured by Investment Property | $785,249 | $752,116 | ▼ $33,133 |
| Accounts Payable and Accrued Expenses | $30,484 | $42,116 | ▲ $11,632 |
| Other Liabilities | $9,989 | $10,264 | ▲ $275 |
| Deferred Revenue | $5,981 | $3,875 | ▼ $2,106 |
| Total Liabilities | $831,703 | $808,371 | ▼ $23,332 |
| Net Assets / Fund Balance | |||
| Net Assets Without Donor Restrictions | $456,669 | $498,421 | ▲ $41,752 |
| Total Net Assets Fund Balance | $456,669 | $498,421 | ▲ $41,752 |
| Total Liabilities and Net Assets / Fund Balance | $1,288,372 | $1,306,792 | ▲ $18,420 |
| Asset | Book Value | Depreciation | Basis |
|---|---|---|---|
| Buildings | $868,039 | $1,033,962 | $1,902,001 |
| Other Land Buildings | $97,014 | $81,185 | $178,199 |
| Equipment | $8,061 | $147,582 | $155,643 |
| Land | $21,750 | - | $21,750 |
| Name | Title |
|---|---|
| Farrell Sexton | President |
| Michelle Sexton | Secretary |
| Powell Sanders | Vice Preside |
| Line Item | Amount |
|---|---|
| Other Expenses | $429,114 |
| Salaries, Compensation, and Employee Benefits | $133,108 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Total Fundraising Expense | $0 |
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Depreciation Depletion | $80,909 | - | - | $80,909 |
| Occupancy | $77,551 | - | - | $77,551 |
| Other Salaries and Wages | $69,267 | - | - | $69,267 |
| Insurance | $65,669 | - | - | $65,669 |
| Current Officers, Directors, Trustees, and Key Employees | - | $53,805 | - | $53,805 |
| Interest | $23,712 | - | - | $23,712 |
| Office Expenses | $14,847 | - | - | $14,847 |
| Payroll Taxes | $10,036 | - | - | $10,036 |
| Fees for Services Accounting | - | $8,000 | - | $8,000 |
| Other Expenses | $6,602 | $7,237 | - | $6,602 |
| Conferences and Meetings | - | $1,156 | - | $1,156 |
| Fees for Services Legal | $1,148 | - | - | $1,148 |
| Total Functional Expenses | $492,024 | $70,198 | $0 | $562,222 |
| Line Item | Amount |
|---|---|
| Expenses per Audited Statements | $562,222 |
| Total Expenses per Audited Statements | $562,222 |
| Total Expenses per Form 990 | $562,222 |
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Board of Directors- Parklane | Identity of Int | - | No | - |
| Liability | Amount |
|---|---|
| Tenant Security Deposits Payable | $10,264 |
“All members of the board have a family relationship. Farrell sexton is the president of the board of directors of the organization and the president of the company that provides managment services to the organization.”
“The day to day operations have been delegated to rental management, inc, who have been approved by the us department of housing & urban development as the entity's management agent.”
“The return is prepared by a 3rd party cpa firm and provided to the management agent and board of directors for review and approval prior to filing.”
“Parklane submits all documents and policies to the u.s. Department of housing and urban development and these documents are a matter of public record. Documents are made available upon request and in compliance with 501(c)(3) guidelines”
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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| IRS990/CYTotalExpensesAmt | 0 | 562222 |
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| IRS990/DeferredRevenueGrp/EOYAmt | 0 | 3875 |
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| IRS990/DepreciationDepletionGrp/ProgramServicesAmt | 0 | 80909 |
| IRS990/DepreciationDepletionGrp/TotalAmt | 0 | 80909 |
| IRS990/Desc | 0 | OWNS AND OPERATES 54 LOW INCOME HOUSING UNITS FOR ELDERLY, HANDICAPPED, AND LOW INCOME FAMILIES. RECEIVED RENT SUBSIDIES AND FINANCING FROM HUD. ALL EXPENSES RELATED. |
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| IRS990/ExpenseAmt | 0 | 492024 |
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| IRS990/FederalGrantAuditPerformedInd | 0 | true |
| IRS990/FederalGrantAuditRequiredInd | 0 | true |
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| IRS990/FeesForServicesAccountingGrp/TotalAmt | 0 | 8000 |
| IRS990/FeesForServicesLegalGrp/ProgramServicesAmt | 0 | 1148 |
| IRS990/FeesForServicesLegalGrp/TotalAmt | 0 | 1148 |
| IRS990/ForeignActivitiesInd | 0 | false |
| IRS990/ForeignFinancialAccountInd | 0 | false |
| IRS990/ForeignOfficeInd | 0 | false |
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| IRS990/Form990PartVIISectionAGrp/OfficerInd | 2 | X |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 0 | 0 |
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| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 0 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt | 2 | 0 |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 0 | VICE PRESIDE |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 1 | PRESIDENT |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | SECRETARY |
| IRS990/Form990ProvidedToGvrnBodyInd | 0 | false |
| IRS990/FormationYr | 0 | 1972 |
| IRS990/FormerOfcrEmployeesListedInd | 0 | false |
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| IRS990/FSAuditedInd | 0 | true |
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| IRS990/GamingActivitiesInd | 0 | false |
| IRS990/GoverningBodyVotingMembersCnt | 0 | 3 |
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| IRS990/GrantsToOrganizationsInd | 0 | false |
| IRS990/GrantToRelatedPersonInd | 0 | false |
| IRS990/GrossReceiptsAmt | 0 | 603974 |
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| IRS990/IncludeFIN48FootnoteInd | 0 | false |
| IRS990/IndependentAuditFinclStmtInd | 0 | true |
| IRS990/IndependentVotingMemberCnt | 0 | 0 |
| IRS990/IndoorTanningServicesInd | 0 | false |
| IRS990/InfoInScheduleOPartVIInd | 0 | X |
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| IRS990/InsuranceGrp/TotalAmt | 0 | 65669 |
| IRS990/IntangibleAssetsGrp/BOYAmt | 0 | 35934 |
| IRS990/IntangibleAssetsGrp/EOYAmt | 0 | 33942 |
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| IRS990/InterestGrp/TotalAmt | 0 | 23712 |
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| IRS990/OtherExpensesGrp/Desc | 3 | REAL ESTATE TAXES |
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| IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 523737 |
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| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt | 0 | 180 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt | 0 | 20 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt | 0 | 18 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 30 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt | 0 | 50 |
| IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt | 0 | 298 |
| IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt | 0 | 2798790 |
| IRS990ScheduleA/PublicOrganization170Ind | 0 | X |
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| IRS990ScheduleA/PublicSupportPY170Pct | 0 | 0.99990 |
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| IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind | 0 | X |
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| IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt | 0 | 517966 |
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| IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt | 0 | 2798790 |
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| IRS990/ScheduleBRequiredInd | 0 | false |
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| IRS990ScheduleD/EquipmentGrp/BookValueAmt | 0 | 8061 |
| IRS990ScheduleD/EquipmentGrp/DepreciationAmt | 0 | 147582 |
| IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt | 0 | 155643 |
| IRS990ScheduleD/ExpensesSubtotalAmt | 0 | 562222 |
| IRS990ScheduleD/LandGrp/BookValueAmt | 0 | 21750 |
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| IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt | 0 | 81185 |
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| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt | 0 | 10264 |
| IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc | 0 | TENANT SECURITY DEPOSITS PAYABLE |
| IRS990ScheduleD/RevenueSubtotalAmt | 0 | 603974 |
| IRS990ScheduleD/TotalBookValueLandBuildingsAmt | 0 | 994864 |
| IRS990ScheduleD/TotalExpensesPerForm990Amt | 0 | 562222 |
| IRS990ScheduleD/TotalLiabilityAmt | 0 | 10264 |
| IRS990ScheduleD/TotalRevenuePerForm990Amt | 0 | 603974 |
| IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt | 0 | 603974 |
| IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt | 0 | 562222 |
| IRS990/ScheduleJRequiredInd | 0 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt | 0 | PRES OF RENTAL MANAGEMENT |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine2Txt | 0 | PRES OF BOARD- PARKLANE |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm | 0 | BOARD OF DIRECTORS- PARKLANE |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 0 | IDENTITY OF INT |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 1 | FAMILY RELATION |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 0 | false |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd | 1 | false |
| IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt | 0 | FARRELL SEXTON IS AN IDENTITY OF INTEREST AGENT. HE IS THE PRESIDENT OF THE BOARD OF DIRECTORS OF PARKLANE APARTMENTS. HE IS ALSO THE MANAGING AGENT OF RENTAL MANAGEMENT, INC.- THE COMPANY THAT PROVIDES MANAGEMENT SERVICES TO PARKLANE APARTMENTS. ALL MEMBERS OF THE BOARD HAVE A FAMILY RELATIONSHIP. |
| IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | SCHEDULE L, PART V |
| IRS990/ScheduleORequiredInd | 0 | true |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | ALL MEMBERS OF THE BOARD HAVE A FAMILY RELATIONSHIP. FARRELL SEXTON IS THE PRESIDENT OF THE BOARD OF DIRECTORS OF THE ORGANIZATION AND THE PRESIDENT OF THE COMPANY THAT PROVIDES MANAGMENT SERVICES TO THE ORGANIZATION. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | THE DAY TO DAY OPERATIONS HAVE BEEN DELEGATED TO RENTAL MANAGEMENT, INC, WHO HAVE BEEN APPROVED BY THE US DEPARTMENT OF HOUSING & URBAN DEVELOPMENT AS THE ENTITY'S MANAGEMENT AGENT. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | THE RETURN IS PREPARED BY A 3RD PARTY CPA FIRM AND PROVIDED TO THE MANAGEMENT AGENT AND BOARD OF DIRECTORS FOR REVIEW AND APPROVAL PRIOR TO FILING. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | PARKLANE SUBMITS ALL DOCUMENTS AND POLICIES TO THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AND THESE DOCUMENTS ARE A MATTER OF PUBLIC RECORD. DOCUMENTS ARE MADE AVAILABLE UPON REQUEST AND IN COMPLIANCE WITH 501(C)(3) GUIDELINES |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | FORM 990, PART VI |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | FORM 990, PAGE 6, PART VI, LINE 3 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | FORM 990, PAGE 6, PART VI, LINE 11B |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | FORM 990, PAGE 6, PART VI, LINE 19 |
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| IRS990/SignificantChangeInd | 0 | false |
| IRS990/SignificantNewProgramSrvcInd | 0 | false |
| IRS990/SubjectToExcsTaxNetInvstIncInd | 0 | false |
| IRS990/SubjectToProxyTaxInd | 0 | false |
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| IRS990/TaxablePartyNotificationInd | 0 | false |
| IRS990/TaxExemptBondsInd | 0 | false |
| IRS990/TerminateOperationsInd | 0 | false |
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| IRS990/TotalAssetsEOYAmt | 0 | 1306792 |
| IRS990/TotalAssetsGrp/BOYAmt | 0 | 1288372 |
| IRS990/TotalAssetsGrp/EOYAmt | 0 | 1306792 |
| IRS990/TotalCompGreaterThan150KInd | 0 | false |
| IRS990/TotalEmployeeCnt | 0 | 2 |
| IRS990/TotalFunctionalExpensesGrp/FundraisingAmt | 0 | 0 |
| IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt | 0 | 70198 |
| IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt | 0 | 492024 |
| IRS990/TotalFunctionalExpensesGrp/TotalAmt | 0 | 562222 |
| IRS990/TotalGrossUBIAmt | 0 | 0 |
| IRS990/TotalLiabilitiesBOYAmt | 0 | 831703 |
| IRS990/TotalLiabilitiesEOYAmt | 0 | 808371 |
| IRS990/TotalLiabilitiesGrp/BOYAmt | 0 | 831703 |
| IRS990/TotalLiabilitiesGrp/EOYAmt | 0 | 808371 |
| IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt | 0 | 456669 |
| IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt | 0 | 498421 |
| IRS990/TotalProgramServiceExpensesAmt | 0 | 492024 |
| IRS990/TotalProgramServiceRevenueAmt | 0 | 603794 |
| IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt | 0 | 603974 |
| IRS990/TotalRevenueGrp/TotalRevenueColumnAmt | 0 | 603974 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt | 0 | 1288372 |
| IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt | 0 | 1306792 |
| IRS990/TrnsfrExmptNonChrtblRltdOrgInd | 0 | false |
| IRS990/TypeOfOrganizationCorpInd | 0 | X |
| IRS990/UnrelatedBusIncmOverLimitInd | 0 | false |
| IRS990/UponRequestInd | 0 | X |
| IRS990/USAddress/AddressLine1Txt | 0 | PO BOX 1526 |
| IRS990/USAddress/CityNm | 0 | FORT SMITH |
| IRS990/USAddress/StateAbbreviationCd | 0 | AR |
| IRS990/USAddress/ZIPCd | 0 | 72902 |
| IRS990/VotingMembersGoverningBodyCnt | 0 | 3 |
| IRS990/VotingMembersIndependentCnt | 0 | 0 |
| IRS990/WebsiteAddressTxt | 0 | N/A |
| IRS990/WhistleblowerPolicyInd | 0 | false |
| ReturnHeader/BuildTS | 0 | 2023-04-26 12:10:37Z |
| ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd | 0 | true |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | FARRELL SEXTON |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | PRESIDENT |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 4797827268 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2024-04-28 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | PARKLANE APARTMENTS INC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | PARK |
| ReturnHeader/Filer/EIN | 0 | 710775762 |
| ReturnHeader/Filer/PhoneNum | 0 | 4797827268 |
| ReturnHeader/Filer/USAddress/AddressLine1Txt | 0 | PO BOX 1526 |
| ReturnHeader/Filer/USAddress/CityNm | 0 | FORT SMITH |
| ReturnHeader/Filer/USAddress/StateAbbreviationCd | 0 | AR |
| ReturnHeader/Filer/USAddress/ZIPCd | 0 | 72902 |
| ReturnHeader/IRSResponsiblePrtyInfoCurrInd | 0 | true |
| ReturnHeader/PreparerFirmGrp/PreparerFirmEIN | 0 | 710667874 |
| ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt | 0 | JIMMY D HALL & ASSOCIATES CPA'S |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt | 0 | 3307 OLD GREENWOOD RD STE C |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm | 0 | FORT SMITH |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd | 0 | AR |
| ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd | 0 | 729035459 |
| ReturnHeader/PreparerPersonGrp/PhoneNum | 0 | 4797833100 |
| ReturnHeader/PreparerPersonGrp/PreparationDt | 0 | 2024-04-28 |
| ReturnHeader/PreparerPersonGrp/PreparerPersonNm | 0 | JIMMY D HALL CPA |
| ReturnHeader/ReturnTs | 0 | 2024-05-02T08:52:57-04:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm | 0 | FARRELL |
| ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm | 0 | SEXTON |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2023-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2023-12-31 |
| ReturnHeader/TaxYr | 0 | 2023 |
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