Civic Intelligence

Canyon Falls Master Community Association Inc

990 • Fiscal year 2018 • EIN 47-1297374

Jan 01, 2018 to Dec 31, 2018 • Filed on Nov 11, 2019

Organization ProfileWWW.CANYONFALLSTX.COM
8360 E Via DE Ventura Suite L-100Scottsdale, AZ 85258

(480) 921-7500

Siviq Scores

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

Liabilities / Assets

93rd percentile

1.00x

Higher debt load relative to assets than 93% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Liabilities / Revenue

84th percentile

2.36x

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

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Net Margin

17th percentile

-13%

Higher net margin than 17% of similar nonprofits.

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Top Officer Pay

43rd percentile

$0

Higher top officer pay than 43% of similar nonprofits.

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

2018 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2018

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2018

Balance Sheet
Liabilities / Assets93rd percentile

Assets

$5,361,996

No earlier filing loaded for comparison.

Net Assets

$3,625

No earlier filing loaded for comparison.

Liabilities

$5,358,371

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin17th percentile

Revenue

$2,270,156

No earlier filing loaded for comparison.

Expenses

$2,557,250

No earlier filing loaded for comparison.

Net Income

-$287,094

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2018: $5,361,996Liabilities 2018: $5,358,371Net Assets 2018: $3,6252018Assets 2019: $5,404,857Liabilities 2019: $5,854,254Net Assets 2019: -$449,3972019Assets 2020: $5,576,117Liabilities 2020: $6,248,408Net Assets 2020: -$672,2912020Assets 2021: $5,159,893Liabilities 2021: $6,182,074Net Assets 2021: -$1,022,1812021Assets 2022: $5,722,158Liabilities 2022: $6,383,211Net Assets 2022: -$661,0532022Assets 2023: $5,795,442Liabilities 2023: $6,449,627Net Assets 2023: -$654,1852023Assets 2024: $6,210,023Liabilities 2024: $6,968,848Net Assets 2024: -$758,8252024

Highlighted filing

2018

Assets$5,361,996
Liabilities$5,358,371
Net Assets$3,625
Open 2018 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2018: $2,270,156Expenses 2018: $2,557,250Net Income 2018: -$287,0942018Revenue 2019: $3,015,477Expenses 2019: $3,357,987Net Income 2019: -$342,5102019Revenue 2020: $3,842,861Expenses 2020: $4,065,755Net Income 2020: -$222,8942020Revenue 2021: $4,744,849Expenses 2021: $5,024,176Net Income 2021: -$279,3272021Revenue 2022: $5,670,235Expenses 2022: $5,309,107Net Income 2022: $361,1282022Revenue 2023: $5,993,964Expenses 2023: $5,987,096Net Income 2023: $6,8682023Revenue 2024: $6,560,904Expenses 2024: $6,325,158Net Income 2024: $235,7462024

Highlighted filing

2018

Revenue$2,270,156
Expenses$2,557,250
Net Income-$287,094
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Nov 11, 2019
Return Version
2018v3.1
Gross Receipts
$2,292,356
Mission and Program Overview

Mission

The association is responsible for the operation, maintenance, security, upkeep, improvement and administration of the common areas within the development, such as grounds, swimming pool and fitness area.

To maintain and administer the common facilities and to collect and disburse the assessments and charges of the association.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$48,464$4,989,718▲ $4,941,254
Cash and Non-Interest-Bearing Accounts$510,736$324,260▼ $186,476
Accounts Receivable$30,683$34,341▲ $3,658
Prepaid Expenses and Deferred Charges$11,177$8,337▼ $2,840
Total Assets$605,860$5,361,996▲ $4,756,136
Other Assets Total$4,800$5,340▲ $540
Liabilities
Unsecured Notes Loans Payable$41,757$5,003,694▲ $4,961,937
Deferred Revenue$136,227$261,760▲ $125,533
Accounts Payable and Accrued Expenses$137,157$92,917▼ $44,240
Total Liabilities$315,141$5,358,371▲ $5,043,230
Net Assets / Fund Balance
Unrestricted Net Assets$290,719$3,625▼ $287,094
Total Net Assets Fund Balance$290,719$3,625▼ $287,094
Total Liabilities and Net Assets / Fund Balance$605,860$5,361,996▲ $4,756,136

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,989,718$36,863$5,026,581
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

NameTitle
Jason WightPresident
Steve MaglisceauTreasurer
Tracy SimmonsVice Preside

Highest Paid Contractors

ContractorServicesLocationCompensation
Woodlake OutdoorLandscaping3941 LEGACY DRIVE, SUITE 204-225B, Plano, TX 75023$1,176,890
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,252,590
Investment Income
$245
Other Revenue
$17,321
Change in Net Assets
$-287,094
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,557,250
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$231,221--$231,221
Fees for Services Management$183,427$32,508-$215,935
Other Expenses$114,429--$114,429
Interest$47,688--$47,688
Depreciation Depletion$28,786--$28,786
Office Expenses$18,257--$18,257
Insurance$11,765--$11,765
Fees for Services Accounting-$8,440-$8,440
Fees for Services Legal-$585-$585
Total Functional Expenses$2,515,717$41,533$0$2,557,250
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
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
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The day to day operations are delegated to capital consultants management corporation.”

Form 990, Page 6, Part VI, Line 6

“The association has members. The association membership consists of homeowner members and builder members.”

Form 990, Page 6, Part VI, Line 7A

“The association is governed by a volunteer board of directors. The directors are voted into office by the members during the annual meeting.”

Form 990, Page 6, Part VI, Line 7B

“The board of directors makes all decisions that do not require a majority of the homeowner votes.”

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

“A copy of form 990 is provided to the managment company and the organization's board members for their review prior to being filed with the irs.”

Form 990, Page 6, Part VI, Line 19

“The governing documents of the organization are made available to the public upon request and are recorded in county public records.”

Filing and Contact Details

Filer

Filer Name
Canyon Falls Master Community Assoc
EIN
47-1297374
Phone
4809217500
Address
8360 E VIA DE VENTURA SUITE L-100, SCOTTSDALE, AZ 85258

Signing Officer

Name
Jason Wight
Title
President
Phone
4806247051
Signed
2019-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jason Wight
Formed
2014
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Armstrong Vaughan & Associates Pc
Address
941 WEST BYRD BLVD STE 101, UNIVERSAL CITY, TX 78148
Preparer
Phil Vaughan
Phone
2106586229
Raw XML Appendix330 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE DAY TO DAY OPERATIONS ARE DELEGATED TO CAPITAL CONSULTANTS MANAGEMENT CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ASSOCIATION HAS MEMBERS. THE ASSOCIATION MEMBERSHIP CONSISTS OF HOMEOWNER MEMBERS AND BUILDER MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ASSOCIATION IS GOVERNED BY A VOLUNTEER BOARD OF DIRECTORS. THE DIRECTORS ARE VOTED INTO OFFICE BY THE MEMBERS DURING THE ANNUAL MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS MAKES ALL DECISIONS THAT DO NOT REQUIRE A MAJORITY OF THE HOMEOWNER VOTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4A COPY OF FORM 990 IS PROVIDED TO THE MANAGMENT COMPANY AND THE ORGANIZATION'S BOARD MEMBERS FOR THEIR REVIEW PRIOR TO BEING FILED WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE GOVERNING DOCUMENTS OF THE ORGANIZATION ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST AND ARE RECORDED IN COUNTY PUBLIC RECORDS.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,361,996
Liabilities
$5,358,371
Net assets
$3,625
Revenue
$2,270,156
Expenses
$2,557,250
Net income
-$287,094
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.21$6.97$0.76$6.56$6.33$0.24
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.80$6.45$0.65$5.99$5.99$0.01
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.72$6.38$0.66$5.67$5.31$0.36
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.16$6.18$1.02$4.74$5.02$0.28
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.58$6.25$0.67$3.84$4.07$0.22
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.40$5.85$0.45$3.02$3.36$0.34
2018Detailed filing. Detailed filing data is available for this year.$5.36$5.36$0.00$2.27$2.56$0.29
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2018 filings • 501(c)4 • $5M-$10M nonprofits