Civic Intelligence

Canyon Falls Master Community Association Inc

990 • Fiscal year 2021 • EIN 47-1297374

Jan 01, 2021 to Dec 31, 2021 • Filed on Apr 27, 2022

Organization ProfileN/A
12700 Hillcrest Road Suite 234Dallas, TX 75230

(972) 458-2200

Siviq Scores

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

Liabilities / Assets

98th percentile

1.20x

Higher debt load relative to assets than 98% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

84th percentile

1.30x

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

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Net Margin

16th percentile

-5.9%

Higher net margin than 16% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

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.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2021

Asset Growth

9th percentile

-7.5%

Faster asset growth than 9% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Revenue Growth

71st percentile

23%

Faster revenue growth than 71% of similar nonprofits.

2021 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$5,159,893

Down $416,224 (-7.5%) from 2020

Net Assets

Down

-$1,022,181

Down $349,890 (-52%) from 2020

Liabilities

Down

$6,182,074

Down $66,334 (-1.1%) from 2020

Revenue And Expenses
Liabilities / Revenue84th percentileNet Margin16th percentile

Revenue

Up

$4,744,849

Up $901,988 (+23%) from 2020

Expenses

Up

$5,024,176

Up $958,421 (+24%) from 2020

Net Income

Down

-$279,327

Down $56,433 (-25%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth9th 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

2021

Assets$5,159,893
Liabilities$6,182,074
Net Assets-$1,022,181
Open 2021 Filing

Operations Trend

Revenue Growth71st 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

2021

Revenue$4,744,849
Expenses$5,024,176
Net Income-$279,327
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Apr 27, 2022
Return Version
2021v4.1
Gross Receipts
$4,744,849
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$4,725,062$4,592,734▼ $132,328
Savings and Temporary Cash Investments$301,121$227,780▼ $73,341
Accounts Receivable$230,718$216,639▼ $14,079
Cash and Non-Interest-Bearing Accounts$300,193$83,887▼ $216,306
Prepaid Expenses and Deferred Charges$13,683$38,853▲ $25,170
Rtn Earn Endowment Incm Other Fnds$-672,291$-1,022,181▼ $349,890
Total Assets$5,576,117$5,159,893▼ $416,224
Other Assets Total$5,340--
Liabilities
Unsecured Notes Loans Payable$5,051,885$5,119,482▲ $67,597
Deferred Revenue$1,098,012$732,489▼ $365,523
Accounts Payable and Accrued Expenses$98,511$330,103▲ $231,592
Total Liabilities$6,248,408$6,182,074▼ $66,334
Net Assets / Fund Balance
Total Net Assets Fund Balance$-672,291$-1,022,181▼ $349,890
Total Liabilities and Net Assets / Fund Balance$5,576,117$5,159,893▼ $416,224

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,592,734$433,848$5,026,582
Land$0--
Compensation and Service Providers
Top Officer Pay43rd percentile

Board Members and Trustees

NameTitle
Cindy KeefePresident
Julenne RushingSecretary
Bob JohnsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,723,145
Program Service Revenue
$0
Investment Income
$713
Other Revenue
$20,991
Change in Net Assets
$-279,327
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,024,176
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
Other Expenses$2,628,531$0$0$2,628,531
Fees for Services Management$257,804$0$0$257,804
Depreciation Depletion$132,328$0$0$132,328
Insurance$33,214$0$0$33,214
Office Expenses$22,052$0$0$22,052
Fees for Services Legal$14,670$0$0$14,670
Fees for Services Accounting$2,750$0$0$2,750
Total Functional Expenses$5,024,176$0$0$5,024,176
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
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
Filing and Contact Details

Filer

Filer Name
Canyon Falls Master Community Association Inc
EIN
47-1297374
Phone
9724582200
Address
12700 HILLCREST ROAD SUITE 234, DALLAS, TX 75230

Signing Officer

Name
Julenne Rushing
Title
Secretary
Phone
9724582200
Signed
2022-04-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Nkos Osekre
Formed
2014
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
3

Preparer

Firm
Timothy Devolt and Company Pc
Address
PO BOX 803367, DALLAS, TX 75380
Preparer
E Samuel Timothy CPA
Phone
9729804315
Supplemental Narrative

Additional Explanations

Pt VI, Line 3

“The day to day operations are delegated to guardian management.”

Pt VI, Line 6

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

Pt VI, Line 7A

“The board is appointed by the declarant. After the expiration of that period, board memebrs will be elected by the membership.”

Pt VI, Line 7B

“Decision subject to approval of members certain decisions, such as changes to the governing documents, must be approved by the membership.”

Pt VI, Line 11B

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

Pt VI, Line 19

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

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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 GUARDIAN MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1HOMEOWNERS WITHIN THE ASSOCIATION ARE MANADATORY MEMBERS OF THE ASSOCIATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD IS APPOINTED BY THE DECLARANT. AFTER THE EXPIRATION OF THAT PERIOD, BOARD MEMEBRS WILL BE ELECTED BY THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DECISION SUBJECT TO APPROVAL OF MEMBERS CERTAIN DECISIONS, SUCH AS CHANGES TO THE GOVERNING DOCUMENTS, MUST BE APPROVED BY THE MEMBERSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ORGANIZATION'S PROCESS TO REVIEW FORM 990. A COPY OF FORM 990 IS PROVIDED TO THE MANAGEMETN 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/FormAndLineReferenceDesc0Pt VI, Line 3
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IRS990/UnrelatedBusIncmOverLimitInd0false
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IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt05119482
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IRS990/USAddress/ZIPCd075230
IRS990/VotingMembersGoverningBodyCnt03
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0JULENNE RUSHING
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum09724582200
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-04-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CANYON FALLS MASTER COMMUNITY ASSOCIATION INC
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ReturnHeader/Filer/EIN0471297374
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075380
ReturnHeader/PreparerPersonGrp/PhoneNum09729804315
ReturnHeader/PreparerPersonGrp/PreparationDt02022-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0E Samuel Timothy CPA
ReturnHeader/ReturnTs02022-05-09T08:11:15-07:00
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ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JULENNE
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ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,159,893
Liabilities
$6,182,074
Net assets
-$1,022,181
Revenue
$4,744,849
Expenses
$5,024,176
Net income
-$279,327
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
2021Detailed filing. Detailed filing data is available for this year.$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
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. 2021 filings • 501(c)4 • $5M-$10M nonprofits