Civic Intelligence

Parklane Apartments Inc.

990 • Fiscal year 2015 • EIN 71-0775762

Jan 01, 2015 to Dec 31, 2015 • Filed on Apr 15, 2016

Organization ProfileN/A
PO Box 1526Fort Smith, AR 72902

(479) 782-7268

Siviq Scores

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

Liabilities / Assets

84th percentile

0.65x

Higher debt load relative to assets than 84% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

90th percentile

1.99x

Higher debt load relative to revenue than 90% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Net Margin

29th percentile

-4.2%

Higher net margin than 29% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

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

2015 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2015

Asset Growth

30th percentile

-3.2%

Faster asset growth than 30% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

37th percentile

-1.0%

Faster revenue growth than 37% of similar nonprofits.

2015 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets84th percentile

Assets

Down

$1,591,086

Down $52,935 (-3.2%) from 2014

Net Assets

Down

$551,595

Down $22,089 (-3.9%) from 2014

Liabilities

Down

$1,039,491

Down $30,846 (-2.9%) from 2014

Revenue And Expenses
Liabilities / Revenue90th percentileNet Margin29th percentile

Revenue

Down

$521,610

Down $5,521 (-1.0%) from 2014

Expenses

Down

$543,699

Down $12,167 (-2.2%) from 2014

Net Income

Up

-$22,089

Up $6,646 (+23%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth30th percentile

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

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,753,237Liabilities 2011: $1,152,346Net Assets 2011: $600,8912011Assets 2012: $1,681,966Liabilities 2012: $1,081,373Net Assets 2012: $600,5932012Assets 2013: $1,698,890Liabilities 2013: $1,096,471Net Assets 2013: $602,4192013Assets 2014: $1,644,021Liabilities 2014: $1,070,337Net Assets 2014: $573,6842014Assets 2015: $1,591,086Liabilities 2015: $1,039,491Net Assets 2015: $551,5952015Assets 2016: $1,580,629Liabilities 2016: $1,001,581Net Assets 2016: $579,0482016Assets 2017: $1,548,970Liabilities 2017: $988,092Net Assets 2017: $560,8782017Assets 2018: $1,481,256Liabilities 2018: $953,455Net Assets 2018: $527,8012018Assets 2019: $1,355,383Liabilities 2019: $921,362Net Assets 2019: $434,0212019Assets 2020: $1,314,916Liabilities 2020: $901,865Net Assets 2020: $413,0512020Assets 2021: $1,219,440Liabilities 2021: $856,878Net Assets 2021: $362,5622021Assets 2022: $1,288,372Liabilities 2022: $831,703Net Assets 2022: $456,6692022Assets 2023: $1,306,792Liabilities 2023: $808,371Net Assets 2023: $498,4212023

Highlighted filing

2015

Assets$1,591,086
Liabilities$1,039,491
Net Assets$551,595
Open 2015 Filing

Operations Trend

Revenue Growth37th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2011: $492,479Expenses 2011: $630,736Net Income 2011: -$138,2572011Revenue 2012: $514,176Expenses 2012: $514,474Net Income 2012: -$2982012Revenue 2013: $520,807Expenses 2013: $518,981Net Income 2013: $1,8262013Revenue 2014: $527,131Expenses 2014: $555,866Net Income 2014: -$28,7352014Revenue 2015: $521,610Expenses 2015: $543,699Net Income 2015: -$22,0892015Revenue 2016: $528,514Expenses 2016: $501,061Net Income 2016: $27,4532016Revenue 2017: $529,806Expenses 2017: $547,976Net Income 2017: -$18,1702017Revenue 2018: $530,982Expenses 2018: $564,059Net Income 2018: -$33,0772018Revenue 2019: $523,787Expenses 2019: $617,567Net Income 2019: -$93,7802019Revenue 2020: $517,966Expenses 2020: $538,936Net Income 2020: -$20,9702020Revenue 2021: $575,646Expenses 2021: $626,135Net Income 2021: -$50,4892021Revenue 2022: $577,467Expenses 2022: $523,008Net Income 2022: $54,4592022Revenue 2023: $603,974Expenses 2023: $562,222Net Income 2023: $41,7522023

Highlighted filing

2015

Revenue$521,610
Expenses$543,699
Net Income-$22,089
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Apr 15, 2016
Return Version
2015v2.1
Gross Receipts
$521,610
Mission and Program Overview

Mission

Operates low income housing

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,319,172$1,263,267▼ $55,905
Savings and Temporary Cash Investments$237,014$225,490▼ $11,524
Intangible Assets$47,125$45,301▼ $1,824
Cash and Non-Interest-Bearing Accounts$5,398$27,176▲ $21,778
Prepaid Expenses and Deferred Charges$27,304$25,987▼ $1,317
Accounts Receivable$8,008$3,865▼ $4,143
Total Assets$1,644,021$1,591,086▼ $52,935
Liabilities
Mortgage Notes Payable Secured by Investment Property$986,301$965,133▼ $21,168
Accounts Payable and Accrued Expenses$72,752$58,739▼ $14,013
Other Liabilities$9,362$10,557▲ $1,195
Deferred Revenue$1,922$5,062▲ $3,140
Total Liabilities$1,070,337$1,039,491▼ $30,846
Net Assets / Fund Balance
Unrestricted Net Assets$573,684$551,595▼ $22,089
Total Net Assets Fund Balance$573,684$551,595▼ $22,089
Total Liabilities and Net Assets / Fund Balance$1,644,021$1,591,086▼ $52,935

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,141,087$628,836$1,769,923
Equipment$100,430$71,880$172,310
Land$21,750-$21,750
Compensation and Service Providers
Top Officer Pay35th percentile

Board Members and Trustees

NameTitle
Farrell SextonPresident
Michelle SextonSecretary
Powell SandersVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$521,517
Investment Income
$93
Other Revenue
$0
Change in Net Assets
$-22,089

Audited Revenue Reconciliation

Revenue per Audited Statements
$521,610
Total Revenue per Audited Statements
$521,610
Total Revenue per Form 990
$521,610
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$382,662
Salaries, Compensation, and Employee Benefits$161,037
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$101,534--$101,534
Occupancy$67,634--$67,634
Depreciation Depletion$66,228--$66,228
Current Officers, Directors, Trustees, and Key Employees-$47,751-$47,751
Interest$41,629--$41,629
Insurance$41,495--$41,495
Office Expenses$12,794--$12,794
Payroll Taxes$11,752--$11,752
Other Expenses$11,453--$11,453
Fees for Services Accounting$7,354--$7,354
Fees for Services Legal$1,064--$1,064
Advertising$960--$960
Conferences and Meetings$584--$584
Total Functional Expenses$495,948$47,751$0$543,699

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$543,699
Total Expenses per Audited Statements$543,699
Total Expenses per Form 990$543,699
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Farrell SextonMgmt AgentFarrell SextonNo-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant Security Deposits Payable$10,475
Accrued Tenant Interest Payable$82
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
No
Business relationship with family members
Yes
Business relationship with organization members
Yes
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, Page 6, Part VI, Line 2

“Rental management, inc. Mgmt agent”

Form 990, Page 6, Part VI, Line 3

“All members of the board have a family relationship. Farrell sexton is the president of the board of directors of the organization. He is also the president of rental management, inc., the company that provides management services for the organization.”

Form 990, Page 6, Part VI, Line 11B

“The organization's governing body reviewed form 990 before filing.”

Form 990, Page 6, Part VI, Line 19

“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.”

Filing and Contact Details

Filer

Filer Name
Parklane Apartments Inc
EIN
71-0775762
Phone
4797827268
Address
PO BOX 1526, FORT SMITH, AR 72902

Signing Officer

Name
Farrell Sexton
Title
President
Phone
4797827268
Signed
2016-04-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Farrell Sexton
Formed
1972
Legal Domicile
Ar
Voting Board Members
3
Independent Board Members
0
Employees
2

Preparer

Firm
JIMMY D HALL & ASSOCIATES CPA'S
Address
3307 OLD GREENWOOD RD STE C, FORT SMITH, AR 72903-5459
Preparer
Jimmy D Hall CPA
Phone
4797833100
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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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IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0521610
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0543699
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0FARRELL SEXTON
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0MGMT AGENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0FARRELL SEXTON
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0FARRELL SEXTON 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/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0RENTAL MANAGEMENT, INC. MGMT AGENT
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL MEMBERS OF THE BOARD HAVE A FAMILY RELATIONSHIP. FARRELL SEXTON IS THE PRESIDENT OF THE BOARD OF DIRECTORS OF THE ORGANIZATION. HE IS ALSO THE PRESIDENT OF RENTAL MANAGEMENT, INC., THE COMPANY THAT PROVIDES MANAGEMENT SERVICES FOR THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S GOVERNING BODY REVIEWED FORM 990 BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PARKLANE SUBMITS ALL DOCUMENTS AND POLICIES TO THE U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT AND THESE DOCUMENTS ARE A MATTER OF PUBLIC RECORD.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01644021
IRS990/TotalAssetsEOYAmt01591086
IRS990/TotalAssetsGrp/BOYAmt01644021
IRS990/TotalAssetsGrp/EOYAmt01591086
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt047751
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0495948
IRS990/TotalFunctionalExpensesGrp/TotalAmt0543699
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01070337
IRS990/TotalLiabilitiesEOYAmt01039491
IRS990/TotalLiabilitiesGrp/BOYAmt01070337
IRS990/TotalLiabilitiesGrp/EOYAmt01039491
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0573684
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0551595
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt0-9134
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0-9134
IRS990/TotalProgramServiceExpensesAmt0495948
IRS990/TotalProgramServiceRevenueAmt0521517
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0521610
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0521610
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01644021
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01591086
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0573684
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0551595
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 1526
IRS990/USAddress/CityNm0FORT SMITH
IRS990/USAddress/StateAbbreviationCd0AR
IRS990/USAddress/ZIPCd072902
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FARRELL SEXTON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum04797827268
ReturnHeader/BusinessOfficerGrp/SignatureDt02016-04-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PARKLANE APARTMENTS INC
ReturnHeader/Filer/BusinessNameControlTxt0PARK
ReturnHeader/Filer/EIN0710775762
ReturnHeader/Filer/PhoneNum04797827268
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 1526
ReturnHeader/Filer/USAddress/CityNm0FORT SMITH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0AR
ReturnHeader/Filer/USAddress/ZIPCd072902
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0710667874
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0JIMMY D HALL & ASSOCIATES CPA'S
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt03307 OLD GREENWOOD RD STE C
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0FORT SMITH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0AR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0729035459
ReturnHeader/PreparerPersonGrp/PhoneNum04797833100
ReturnHeader/PreparerPersonGrp/PreparationDt02016-04-20
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JIMMY D HALL CPA
ReturnHeader/ReturnTs02016-10-06T17:16:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02015-01-01
ReturnHeader/TaxPeriodEndDt02015-12-31
ReturnHeader/TaxYr02015

Document Assets

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Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,591,086
Liabilities
$1,039,491
Net assets
$551,595
Revenue
$521,610
Expenses
$543,699
Net income
-$22,089
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Detailed filing. Detailed filing data is available for this year.$1.31$0.81$0.50$0.60$0.56$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.29$0.83$0.46$0.58$0.52$0.05
2021Detailed filing. Detailed filing data is available for this year.$1.22$0.86$0.36$0.58$0.63$0.05
2020Detailed filing. Detailed filing data is available for this year.$1.31$0.90$0.41$0.52$0.54$0.02
2019Detailed filing. Detailed filing data is available for this year.$1.36$0.92$0.43$0.52$0.62$0.09
2018Detailed filing. Detailed filing data is available for this year.$1.48$0.95$0.53$0.53$0.56$0.03
2017Detailed filing. Detailed filing data is available for this year.$1.55$0.99$0.56$0.53$0.55$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.58$1.00$0.58$0.53$0.50$0.03
2015Detailed filing. Detailed filing data is available for this year.$1.59$1.04$0.55$0.52$0.54$0.02
2014Detailed filing. Detailed filing data is available for this year.$1.64$1.07$0.57$0.53$0.56$0.03
2013Summary only. Only limited summary data is available for this year.$1.70$1.10$0.60$0.52$0.52$0.00
2012Summary only. Only limited summary data is available for this year.$1.68$1.08$0.60$0.51$0.51$0.00
2011Summary only. Only limited summary data is available for this year.$1.75$1.15$0.60$0.49$0.63$0.14