2026-09-11T11:26:56-05:00 2024-08-31 813303027 Gasaway & Company CPAs 415 N McKinley St Ste 795 Little Rock AR 72205 990 2023-09-01 710508225 Gorman Towers Inc GORM 4797827268 PO Box 1526 Fort Smith AR 72902 Dr William Hutchinson Board President 4797827268 2026-07-29 1 1 Jaye Gasaway P01223882 5016508291 2026-07-29 2023 Dr William Hutchinson 701 S 21st Street Fort Smith AR 72901 2132750 0 X N/A X 1980 AR Non-profit housing for the elderly & handicapped. 3 3 0 0 0 0 0 0 2076827 2112130 482 711 0 19909 2077309 2132750 0 0 0 0 495067 389655 0 0 0 1357765 1428222 1852832 1817877 224477 314873 3597272 3739309 3944746 3771910 -347474 -32601 Non-profit housing for the elderly & handicapped. 0 0 1666924 2132750 Non-profit housing for the elderly & handicapped. 1666924 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 0 0 0 X Rental Management Inc 4797827268 PO Box 1526 Fort Smith AR 72902 X Audra Bailey Board Member 0.00 X 0 0 0 Jeff Fenwick Board Member 0.00 X 0 0 0 Dr William Hutchinson Board Presid 0.00 X X 0 0 0 0 0 0 0 0 0 0 0 Tenant assistance paym 624200 1410184 1410184 Rent 624200 701946 701946 2112130 711 711 Laundry and vending re 624200 13118 13118 Forfeited security dep 624200 6041 6041 Miscellaneous 624200 750 750 19909 2132750 2132750 0 0 332119 332119 57536 57536 119063 119063 6575 6575 31890 31890 3847 3847 79649 79649 2814 2814 124899 124899 141982 141982 224503 224503 Operating and maintenan 352302 352302 Utilities 278313 278313 Sewer 40783 40783 Administrative 21602 21602 1817877 1666924 150953 0 75678 113510 9547 9566 4624 3921 37776 38011 11519537 8934075 2712840 2585462 165741 153817 591066 835022 3597272 3739309 81556 119892 7706 19098 3806499 3581842 48985 51078 3944746 3771910 X -388286 -73413 40812 40812 -347474 -32601 3597272 3739309 314873 0 X 0 1 X 1 1 1 X 1413362 1462253 1456522 1408483 1410184 7150804 1413362 1462253 1456522 1408483 1410184 7150804 7150804 112 82 50 482 711 1437 7152241 0.99980 X 0 1 X 239972 239972 9753428 7508345 2245083 1526137 1425730 100407 2585462 Reserve for replacements 688894 Escrow 81330 Security deposits savings - Ozark 64798 835022 Security deposits liability 51078 51078 2132750 0 2132750 0 2132750 1817877 0 1817877 0 1817877 Part IV, Line 2b: Tenant security deposits are required for each tenant. The amount will be applied to any balance due by the tenant when they have moved out, or will be refunded if no balance is due. Form 990, Part VI, Section B, line 11b The Executive Director is charged with the timely and accurate preparation and filing of the annual Form 990. An unrelated, independent CPA firm prepares a draft of the Form 990. The management company's chief financial officer and controller review the 990. The Executive Director reviews and signs the final Form 990 and then has it filed. A copy of the Form 990 that was filed is provided to the board of directors at the board meeting subsequent to the filing of the Form 990. Form 990, Part VI, Section B, line 12c At the annual meeting of the board members, all are asked to review and sign a new policy statement and advise the board if any conflicts exist. Form 990, Part VI, Section C, line 19 Governing documents are available to the public upon request. The organization respectfully requests relief from any late-filing penalties. As a first-year client, the organization underwent a substantial review and reconstruction of its accounting records during the preparation process. Upon engagement, significant discrepancies, incomplete records, and accounting issues were identified that required additional time to reconcile and verify in order to ensure the Form 990 was complete, accurate, and filed in compliance with applicable reporting requirements.The organization exercised ordinary business care and prudence by engaging qualified tax professionals and cooperating fully in the gathering and reconstruction of the information necessary to prepare the return. Due to the condition of the organization's books and records and the additional time required to resolve these matters, the return could not be completed by the original due date.The organization has a history of compliance and respectfully requests penalty relief under the IRS First-Time Abatement administrative waiver provisions, to the extent applicable. Alternatively, the organization requests relief based upon reasonable cause, as the delay resulted from the time required to obtain, reconcile, and verify necessary information to ensure accurate reporting rather than from willful neglect.