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Parklane Apartments Inc

Learn about this cause: Is it Legit? Do I like the mission? What is the CEO's salary?

EIN: 710775762 ✦ Fort smith, AR ✦ Designated as a 501(c)(3)

Overview

What is Parklane Apartments Inc?

Parklane Apartments Inc is a nonprofit organization dedicated to providing affordable housing solutions. They specialize in operating low-income housing units, catering to the needs of elderly, handicapped, and low-income families. With the aid of rent subsidies and financing from the HUD, they manage and maintain 54 such units effectively, ensuring that all related expenses are covered. Their mission aligns with the provision of accessible and affordable housing, contributing positively to the community.


Is Parklane Apartments Inc legitimate?

Parklane Apartments Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Parklane Apartments Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Here are some key statistics you may want to consider:

Executive Compensation: $51,323
Professional Fundraising Fees: $0
Other Salaries and Wages: $81,245

For more financial information, click here


What is the mission statement of Parklane Apartments Inc?
Who is the CEO of Parklane Apartments Inc?
What is the revenue of Parklane Apartments Inc?
Who are the executives of Parklane Apartments Inc and what are their salaries?
Where can I find the form 990 for Parklane Apartments Inc?

Mission Statement of Parklane Apartments Inc

Parklane Apartments Inc, as a nonprofit organization, is dedicated to providing low-income housing options. This mission is fulfilled through the operation of 54 units specifically designed for elderly, handicapped, and low-income families. To ensure the affordability and maintenance of these units, Parklane Apartments has secured rent subsidies and financing from the Department of Housing and Urban Development (HUD). This financial support covers all related expenses, allowing Parklane Apartments to continue its mission of offering safe and affordable housing solutions to those in need.

Impact

This information is meant to be a general summary of Parklane Apartments Inc. Please take the time to review official sources before making any decisions based upon the content provided here.




Wednesday, July 24, 2024

Parklane Apartments Inc provides essential housing services for elderly, handicapped, and low-income families in Fort Smith, AR. By owning and operating 54 units dedicated to these vulnerable populations, the organization ensures that these individuals have a safe and affordable place to call home. With the support of rent subsidies and financing from HUD, Parklane Apartments is able to cover all related expenses, making it possible for those in need to access stable housing options. Through their work, Parklane Apartments Inc positively impacts the lives of many individuals by addressing the crucial need for affordable housing in the community.





Financials

This financial information is from Propublica.

Revenue
Expenses
Efficiency

Other financial information:

This information is from the most recently submitted tax form from this organization, which was in 2022.

  • Investment Income: $20
  • Program Service Revenue: $577,447
  • Gross Receipts: $577,467

    • Assets and Liabilities:
  • Total Assets: $1,288,372
  • Total Liabilities: $831,703
  • Net Assets: $456,669
  • Programs

    Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.

    HOUSING ASSISTANCE PAYMENTS F

    Revenue

    $393,016

    RENT REVENUE

    Revenue

    $207,120

    LAUNDRY AND VENDING REVENUE

    Revenue

    $3,694

    FORFEITED SECURITY DEPOSITS

    Revenue

    $3,530

    RENTAL CONCESSIONS

    Revenue

    $-1,430

    Organization Details

    Founding Year

    1972

    Principal Officer

    Farrell Sexton

    Main Address

    PO BOX 1526, FORT SMITH, AR, 72902

    NTEE Category

    Code: L210 - Housing

    If you are a representative of Parklane Apartments Inc and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.