Civic Intelligence

Canyon Falls Master Community Association Inc

990 • Fiscal year 2023 • EIN 47-1297374

Jan 01, 2023 to Dec 31, 2023 • Filed on May 02, 2024

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

97th percentile

1.11x

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

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Liabilities / Revenue

82nd percentile

1.08x

Higher debt load relative to revenue than 82% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Net Margin

31st percentile

0.1%

Higher net margin than 31% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Top Officer Pay

42nd percentile

$0

Higher top officer pay than 42% of similar nonprofits.

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

2023 filings • 501(c)4 • $5M-$10M nonprofits • Source year 2023

Asset Growth

33rd percentile

1.3%

Faster asset growth than 33% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Revenue Growth

48th percentile

5.7%

Faster revenue growth than 48% of similar nonprofits.

2023 filings • 501(c)4 • $5M-$10M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets97th percentile

Assets

Up

$5,795,442

Up $73,284 (+1.3%) from 2022

Net Assets

Up

-$654,185

Up $6,868 (+1.0%) from 2022

Liabilities

Up

$6,449,627

Up $66,416 (+1.0%) from 2022

Revenue And Expenses
Liabilities / Revenue82nd percentileNet Margin31st percentile

Revenue

Up

$5,993,964

Up $323,729 (+5.7%) from 2022

Expenses

Up

$5,987,096

Up $677,989 (+13%) from 2022

Net Income

Down

$6,868

Down $354,260 (-98%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth33rd 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

2023

Assets$5,795,442
Liabilities$6,449,627
Net Assets-$654,185
Open 2023 Filing

Operations Trend

Revenue Growth48th 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

2023

Revenue$5,993,964
Expenses$5,987,096
Net Income$6,868
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 2, 2024
Return Version
2023v5.0
Gross Receipts
$5,993,964
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$4,460,405$4,328,078▼ $132,327
Cash and Non-Interest-Bearing Accounts$686,123$597,721▼ $88,402
Savings and Temporary Cash Investments$306,596$515,283▲ $208,687
Accounts Receivable$236,040$320,483▲ $84,443
Prepaid Expenses and Deferred Charges$32,994$33,877▲ $883
Rtn Earn Endowment Incm Other Fnds$-661,053$-654,185▲ $6,868
Total Assets$5,722,158$5,795,442▲ $73,284
Liabilities
Unsecured Notes Loans Payable$5,149,981$5,143,090▼ $6,891
Deferred Revenue$1,171,123$1,209,775▲ $38,652
Accounts Payable and Accrued Expenses$62,107$96,762▲ $34,655
Total Liabilities$6,383,211$6,449,627▲ $66,416
Net Assets / Fund Balance
Total Net Assets Fund Balance$-661,053$-654,185▲ $6,868
Total Liabilities and Net Assets / Fund Balance$5,722,158$5,795,442▲ $73,284

Asset Categories

AssetBook ValueDepreciationBasis
Land$0--
Equipment$4,328,078$698,504-
Compensation and Service Providers
Top Officer Pay42nd percentile

Board Members and Trustees

NameTitle
Curt MillwardPresident
Julenne RushingSecretary
John LeonardTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,474,246
Program Service Revenue
$0
Investment Income
$4,261
Other Revenue
$515,457
Change in Net Assets
$6,868
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$5,987,096
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$3,143,587$0$0$3,143,587
Fees for Services Management$303,957$0$0$303,957
Depreciation Depletion$132,328$0$0$132,328
Information Technology$72,755$0$0$72,755
Office Expenses$31,923$0$0$31,923
Other Expenses$28,654$0$0$28,654
Fees for Services Legal$14,340$0$0$14,340
Fees for Services Other$4,116$0$0$4,116
Fees for Services Accounting$500$0$0$500
Total Functional Expenses$5,987,096$0$0$5,987,096
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
Curt Millward
Title
President
Phone
9724582200
Signed
2024-05-02
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
James L Crabtree EA
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.”

Form 990, Part IX, Line 24E

“Coffee bar supplies 3518. 3518. 0. 0.”

Form 990, Part IX, Line 24E

“Collction fee 19635. 19635. 0. 0.”

Form 990, Part IX, Line 24E

“Bank charges/nsf 1085. 1085. 0. 0.”

Form 990, Part IX, Line 24E

“Infrastructure & maintenance 145530. 145530. 0. 0.”

Form 990, Part IX, Line 24E

“Insurance & taxes 48503. 48503. 0. 0.”

Form 990, Part IX, Line 24E

“Irrigation/lakes 160244. 160244. 0. 0.”

Form 990, Part IX, Line 24E

“Landscape maintenance 2179604. 2179604. 0. 0.”

Form 990, Part IX, Line 24E

“Reserve contribution 235600. 235600. 0. 0.”

Form 990, Part IX, Line 24E

“Prior year expense 6500. 6500. 0. 0.”

Form 990, Part IX, Line 24E

“Pool/amenity 246650. 246650. 0. 0.”

Form 990, Part IX, Line 24E

“Other capital expense 86718. 86718. 0. 0.”

Form 990, Part IX, Line 24E

“Bad debt expense 10000. 10000. 0. 0.”

Raw XML Appendix370 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 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/ExplanationTxt6COFFEE BAR SUPPLIES 3518. 3518. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7COLLCTION FEE 19635. 19635. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8BANK CHARGES/NSF 1085. 1085. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9INFRASTRUCTURE & MAINTENANCE 145530. 145530. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10INSURANCE & TAXES 48503. 48503. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11IRRIGATION/LAKES 160244. 160244. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12LANDSCAPE MAINTENANCE 2179604. 2179604. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13RESERVE CONTRIBUTION 235600. 235600. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14PRIOR YEAR EXPENSE 6500. 6500. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15POOL/AMENITY 246650. 246650. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt16OTHER CAPITAL EXPENSE 86718. 86718. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt17BAD DEBT EXPENSE 10000. 10000. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc16Form 990, Part IX, Line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc17Form 990, Part IX, Line 24e
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt05722158
IRS990/TotalAssetsEOYAmt05795442
IRS990/TotalAssetsGrp/BOYAmt05722158
IRS990/TotalAssetsGrp/EOYAmt05795442
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05474246
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt05987096
IRS990/TotalFunctionalExpensesGrp/TotalAmt05987096
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06383211
IRS990/TotalLiabilitiesEOYAmt06449627
IRS990/TotalLiabilitiesGrp/BOYAmt06383211
IRS990/TotalLiabilitiesGrp/EOYAmt06449627
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-661053
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-654185
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt05987096
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0519718
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05993964
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt03
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt05722158
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt05795442
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt05149981
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt05143090
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt012700 Hillcrest Road Suite 234
IRS990/USAddress/CityNm0Dallas
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075230
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Curt Millward
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum09724582200
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Canyon Falls Master Community Association Inc
ReturnHeader/Filer/BusinessNameControlTxt0CANY
ReturnHeader/Filer/EIN0471297374
ReturnHeader/Filer/PhoneNum09724582200
ReturnHeader/Filer/USAddress/AddressLine1Txt012700 Hillcrest Road Suite 234
ReturnHeader/Filer/USAddress/CityNm0Dallas
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075230
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0810731976
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0TIMOTHY DEVOLT AND COMPANY PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 803367
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0DALLAS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd075380
ReturnHeader/PreparerPersonGrp/PhoneNum09729804315
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0James L Crabtree EA
ReturnHeader/ReturnTs02024-05-28T07:55:11-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Curt
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Millward
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$5,795,442
Liabilities
$6,449,627
Net assets
-$654,185
Revenue
$5,993,964
Expenses
$5,987,096
Net income
$6,868
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
2023Detailed filing. Detailed filing data is available for this year.$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
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

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