Civic Intelligence

Canyon Falls Master Community Association Inc

990 • Fiscal year 2020 • EIN 47-1297374

Jan 01, 2020 to Dec 31, 2020 • Filed on Jul 14, 2021

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

97th percentile

1.12x

Higher debt load relative to assets than 97% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

83rd percentile

1.63x

Higher debt load relative to revenue than 83% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2020

Net Margin

19th percentile

-5.8%

Higher net margin than 19% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

41st percentile

$0

Higher top officer pay than 41% of similar nonprofits.

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

2020 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2020

Asset Growth

48th percentile

3.2%

Faster asset growth than 48% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

78th percentile

27%

Faster revenue growth than 78% of similar nonprofits.

2020 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$5,576,117

Up $171,260 (+3.2%) from 2019

Net Assets

Down

-$672,291

Down $222,894 (-50%) from 2019

Liabilities

Up

$6,248,408

Up $394,154 (+6.7%) from 2019

Revenue And Expenses
Liabilities / Revenue83rd percentileNet Margin19th percentile

Revenue

Up

$3,842,861

Up $827,384 (+27%) from 2019

Expenses

Up

$4,065,755

Up $707,768 (+21%) from 2019

Net Income

Up

-$222,894

Up $119,616 (+35%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth48th 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

2020

Assets$5,576,117
Liabilities$6,248,408
Net Assets-$672,291
Open 2020 Filing

Operations Trend

Revenue Growth78th 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

2020

Revenue$3,842,861
Expenses$4,065,755
Net Income-$222,894
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jul 14, 2021
Return Version
2020v4.0
Gross Receipts
$3,865,061
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$4,857,390$4,725,062▼ $132,328
Savings and Temporary Cash Investments$218,679$301,121▲ $82,442
Cash and Non-Interest-Bearing Accounts$116,448$300,193▲ $183,745
Accounts Receivable$188,850$230,718▲ $41,868
Prepaid Expenses and Deferred Charges$18,150$13,683▼ $4,467
Rtn Earn Endowment Incm Other Fnds$-449,397$-672,291▼ $222,894
Total Assets$5,404,857$5,576,117▲ $171,260
Other Assets Total$5,340$5,340→ $0
Liabilities
Unsecured Notes Loans Payable$5,028,279$5,051,885▲ $23,606
Deferred Revenue$471,852$1,098,012▲ $626,160
Accounts Payable and Accrued Expenses$354,123$98,511▼ $255,612
Total Liabilities$5,854,254$6,248,408▲ $394,154
Net Assets / Fund Balance
Total Net Assets Fund Balance$-449,397$-672,291▼ $222,894
Total Liabilities and Net Assets / Fund Balance$5,404,857$5,576,117▲ $171,260

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,725,062$301,519$5,026,581
Compensation and Service Providers
Top Officer Pay41st percentile

Board Members and Trustees

NameTitle
Jason WightPresident
Cindy KeefeMember
Julenne RushingMember

Highest Paid Contractors

ContractorServicesLocationCompensation
Woodlake OutdoorLandscaping3941 LEGACY DRIVE, SUITE 204-225B, Plano, TX 75023$1,664,544
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,839,445
Investment Income
$2,858
Other Revenue
$558
Change in Net Assets
$-222,894
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$4,065,755
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$390,553--$390,553
Interest$273,846--$273,846
Fees for Services Management$222,925$49,103-$272,028
Depreciation Depletion$132,328--$132,328
Other Expenses$97,765--$97,765
Insurance$22,703--$22,703
Office Expenses$22,139--$22,139
Fees for Services Legal-$3,979-$3,979
Total Functional Expenses$4,012,673$53,082$0$4,065,755
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
2021-07-14
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 Appendix325 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.
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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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ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,576,117
Liabilities
$6,248,408
Net assets
-$672,291
Revenue
$3,842,861
Expenses
$4,065,755
Net income
-$222,894
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
2020Detailed filing. Detailed filing data is available for this year.$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
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. 2020 filings • 501(c)4 • $5M-$10M nonprofits