Civic Intelligence

Canyon Falls Master Community Association Inc

990 • Fiscal year 2019 • EIN 47-1297374

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 09, 2020

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

95th percentile

1.08x

Higher debt load relative to assets than 95% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Liabilities / Revenue

85th percentile

1.94x

Higher debt load relative to revenue than 85% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Net Margin

15th percentile

-11%

Higher net margin than 15% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2019 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2019

Asset Growth

39th percentile

0.8%

Faster asset growth than 39% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Revenue Growth

86th percentile

33%

Faster revenue growth than 86% of similar nonprofits.

2019 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets95th percentile

Assets

Up

$5,404,857

Up $42,861 (+0.8%) from 2018

Net Assets

Down

-$449,397

Down $453,022 (-12497%) from 2018

Liabilities

Up

$5,854,254

Up $495,883 (+9.3%) from 2018

Revenue And Expenses
Liabilities / Revenue85th percentileNet Margin15th percentile

Revenue

Up

$3,015,477

Up $745,321 (+33%) from 2018

Expenses

Up

$3,357,987

Up $800,737 (+31%) from 2018

Net Income

Down

-$342,510

Down $55,416 (-19%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth39th percentile

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

2019

Assets$5,404,857
Liabilities$5,854,254
Net Assets-$449,397
Open 2019 Filing

Operations Trend

Revenue Growth86th percentile

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

2019

Revenue$3,015,477
Expenses$3,357,987
Net Income-$342,510
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 9, 2020
Return Version
2019v5.0
Gross Receipts
$3,037,677
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$4,989,718$4,857,390▼ $132,328
Savings and Temporary Cash Investments-$218,679-
Accounts Receivable$34,341$188,850▲ $154,509
Cash and Non-Interest-Bearing Accounts$324,260$116,448▼ $207,812
Prepaid Expenses and Deferred Charges$8,337$18,150▲ $9,813
Rtn Earn Endowment Incm Other Fnds$3,625$-449,397▼ $453,022
Total Assets$5,361,996$5,404,857▲ $42,861
Other Assets Total$5,340$5,340→ $0
Liabilities
Unsecured Notes Loans Payable$5,003,694$5,028,279▲ $24,585
Deferred Revenue$261,760$471,852▲ $210,092
Accounts Payable and Accrued Expenses$92,917$354,123▲ $261,206
Total Liabilities$5,358,371$5,854,254▲ $495,883
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,625$-449,397▼ $453,022
Total Liabilities and Net Assets / Fund Balance$5,361,996$5,404,857▲ $42,861

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,857,390$169,191$5,026,581
Compensation and Service Providers
Top Officer Pay40th 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$1,371,073
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$2,999,575
Investment Income
$473
Other Revenue
$15,429
Change in Net Assets
$-342,510
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$3,357,987
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
Interest$272,826--$272,826
Fees for Services Management$227,598$38,548-$266,146
All Other Expenses$219,641--$219,641
Depreciation Depletion$132,328--$132,328
Other Expenses$87,127--$87,127
Office Expenses$30,829--$30,829
Insurance$15,898--$15,898
Fees for Services Accounting-$2,300-$2,300
Fees for Services Legal-$399-$399
Total Functional Expenses$3,316,740$41,247$0$3,357,987
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
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

“Homeowners within the association are mandatory members of the association.”

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

“During the declarant control period, the board is appointed by the declarant. After the expiration of that period, board members will be elected by the membership.”

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

“Certain decisions, such as changes to the governing documents, must be approved by the membership.”

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
2020-11-09
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 Appendix338 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/ExplanationTxt1HOMEOWNERS WITHIN THE ASSOCIATION ARE MANDATORY MEMBERS OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2DURING THE DECLARANT CONTROL PERIOD, THE BOARD IS APPOINTED BY THE DECLARANT. AFTER THE EXPIRATION OF THAT PERIOD, BOARD MEMBERS WILL BE ELECTED BY THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CERTAIN DECISIONS, SUCH AS CHANGES TO THE GOVERNING DOCUMENTS, MUST BE APPROVED BY THE MEMBERSHIP.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
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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

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,404,857
Liabilities
$5,854,254
Net assets
-$449,397
Revenue
$3,015,477
Expenses
$3,357,987
Net income
-$342,510
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
2019Detailed filing. Detailed filing data is available for this year.$5.40$5.85$0.45$3.02$3.36$0.34
2018Facts available. Structured filing facts are available, but richer extracted sections are limited.$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. 2019 filings • 501(c)4 • $5M-$10M nonprofits