2026-09-11T11:26:45-05:00 2024-12-31 813303027 Gasaway & Company CPAs 415 N McKinley St Ste 795 Little Rock AR 72205 990 2024-01-01 710775762 Parklane Apartments Inc PARK 4797827268 PO Box 1526 Fort Smith AR 72902 Farrell Sexton President 4797827268 2026-07-30 1 1 Jaye Gasaway P01223882 5016508291 2026-07-30 2024 Farrell Sexton PO Box 1526 Fort Smith AR 72902 593401 0 X N/A X 1972 AR Operates low income housing 3 0 0 0 124 0 0 0 603794 593277 180 124 0 0 603974 593401 0 0 0 0 133108 120295 0 0 0 429114 493268 562222 613563 41752 -20162 1306792 1290526 808371 812273 498421 478253 Operates low income housing 0 0 547250 593277 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. 547250 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 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 0 0 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 X X Rental Management Inc 4797827268 PO Box 1526 Fort Smith AR 72902 X Powell Sanders Vice President 0.00 0.00 X X 0 0 0 Farrell Sexton President 0.00 0.00 X X 0 0 0 Michelle Sexton Secretary 0.00 0.00 X X 0 0 0 0 0 0 0 0 0 0 0 Housing assistance pay 531110 446819 446819 Rent revenue 531110 143578 143578 Forfeited security dep 531110 2075 2075 Laundry and vending re 531110 805 805 593277 124 124 593401 593277 124 0 111746 111746 8549 8549 53313 53313 240 240 13000 13000 28694 28694 75416 75416 22664 22664 81204 81204 98350 98350 Operating and maintenan 113668 113668 Real estate taxes 6719 6719 613563 547250 66313 0 50316 70905 129638 188792 26876 0 71156 83236 2257600 1341957 994864 915643 33942 31950 1306792 1290526 42116 115891 3875 2760 752116 682696 10264 10926 808371 812273 X 498421 478253 498421 478253 1306792 1290526 -20162 -6 0 X 0 1 X 1 1 1 X 517966 575646 577467 603794 593277 2868150 517966 575646 577467 603794 593277 2868150 2868150 30 18 20 180 124 372 2868522 0.99990 X 0 1 X 21750 21750 1940682 1112278 828404 159668 153297 6371 135500 76382 59118 915643 Tenant security deposits payable 10926 10926 593401 0 593401 0 593401 613563 0 613563 0 613563 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. Pres of Rental Management & Parklane Identity of interest 0 Board of directors - Parklane Family relation 0 Schedule L, Part V 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. Form 990, Part VI, Section A, line 3 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. Form 990, Part VI, Section B, line 11b The return is prepared by a third party CPA firm and provided to the management agent and board of directors for review and approval prior to filing. Form 990, Part VI, Section C, line 19 Organizational documents are made available upon request and in compliance with 501(c)(3) guidelines. 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.