Civic Intelligence

Sunray Communities Inc.

990 • Fiscal year 2019 • EIN 75-2543538

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 17, 2020

Organization ProfileN/A
148 Red Oak LnFlower Mound, TX 75028

(972) 713-8888

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.02x

Higher debt load relative to assets than 33% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

52nd percentile

0.10x

Higher debt load relative to revenue than 52% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

13th percentile

-20%

Higher net margin than 13% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

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

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

23rd percentile

-3.8%

Faster asset growth than 23% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

38th percentile

-0.3%

Faster revenue growth than 38% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Down

$1,343,785

Down $53,598 (-3.8%) from 2018

Net Assets

Down

$1,318,064

Down $54,159 (-3.9%) from 2018

Liabilities

Up

$25,721

Up $561 (+2.2%) from 2018

Revenue And Expenses
Liabilities / Revenue52nd percentileNet Margin13th percentile

Revenue

Down

$266,364

Down $886 (-0.3%) from 2018

Expenses

Up

$320,523

Up $15,343 (+5.0%) from 2018

Net Income

Down

-$54,159

Down $16,229 (-43%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth23rd percentile

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

$3.0M$2.0M$1.0M$0-$1.0MAssets 2010: $1,834,776Liabilities 2010: $2,327,029Net Assets 2010: -$492,2532010Assets 2011: $1,800,222Liabilities 2011: $2,324,578Net Assets 2011: -$524,3562011Assets 2012: $1,745,005Liabilities 2012: $2,320,919Net Assets 2012: -$575,9142012Assets 2013: $1,702,765Liabilities 2013: $2,337,929Net Assets 2013: -$635,1642013Assets 2014: $1,642,138Liabilities 2014: $2,330,492Net Assets 2014: -$688,3542014Assets 2015: $1,602,096Liabilities 2015: $2,341,467Net Assets 2015: -$739,3712015Assets 2016: $1,556,651Liabilities 2016: $2,321,229Net Assets 2016: -$764,5782016Assets 2017: $1,612,810Liabilities 2017: $2,395,267Net Assets 2017: -$782,4572017Assets 2018: $1,397,383Liabilities 2018: $25,160Net Assets 2018: $1,372,2232018Assets 2019: $1,343,785Liabilities 2019: $25,721Net Assets 2019: $1,318,0642019Assets 2020: $1,286,867Liabilities 2020: $36,879Net Assets 2020: $1,249,9882020Assets 2021: $1,234,372Liabilities 2021: $65,942Net Assets 2021: $1,168,4302021Assets 2022: $1,152,916Liabilities 2022: $53,102Net Assets 2022: $1,099,8142022Assets 2023: $1,094,452Liabilities 2023: $33,226Net Assets 2023: $1,061,2262023Assets 2024: $1,080,949Liabilities 2024: $51,997Net Assets 2024: $1,028,9522024

Highlighted filing

2019

Assets$1,343,785
Liabilities$25,721
Net Assets$1,318,064
Open 2019 Filing

Operations Trend

Revenue Growth38th percentile

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

$400K$200K$0-$200KExpenses 2010: $294,9802010Revenue 2011: $228,525Expenses 2011: $260,628Net Income 2011: -$32,1032011Expenses 2012: $274,6852012Revenue 2013: $225,670Expenses 2013: $284,920Net Income 2013: -$59,2502013Revenue 2014: $234,904Expenses 2014: $288,096Net Income 2014: -$53,1922014Revenue 2015: $233,922Expenses 2015: $284,939Net Income 2015: -$51,0172015Revenue 2016: $262,400Expenses 2016: $285,598Net Income 2016: -$23,1982016Revenue 2017: $264,901Expenses 2017: $282,781Net Income 2017: -$17,8802017Revenue 2018: $267,250Expenses 2018: $305,180Net Income 2018: -$37,9302018Revenue 2019: $266,364Expenses 2019: $320,523Net Income 2019: -$54,1592019Revenue 2020: $268,815Expenses 2020: $336,891Net Income 2020: -$68,0762020Revenue 2021: $276,756Expenses 2021: $358,314Net Income 2021: -$81,5582021Revenue 2022: $286,066Expenses 2022: $354,682Net Income 2022: -$68,6162022Revenue 2023: $313,376Expenses 2023: $351,964Net Income 2023: -$38,5882023Revenue 2024: $326,025Expenses 2024: $358,299Net Income 2024: -$32,2742024

Highlighted filing

2019

Revenue$266,364
Expenses$320,523
Net Income-$54,159
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 17, 2020
Return Version
2019v5.0
Gross Receipts
$266,364
Mission and Program Overview

Mission

To provide housing to elderly persons and handicapped persons with housing facilities and services specially designed to meet their physical, social and phychological needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,150,720$1,095,012▼ $55,708
Savings and Temporary Cash Investments$230,523$240,878▲ $10,355
Prepaid Expenses and Deferred Charges$2,404$3,067▲ $663
Cash and Non-Interest-Bearing Accounts$10,222$1,314▼ $8,908
Accounts Receivable$14$14→ $0
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,397,383$1,343,785▼ $53,598
Other Assets Total$3,500$3,500→ $0
Liabilities
Accounts Payable and Accrued Expenses$15,512$15,554▲ $42
Other Liabilities$9,648$10,167▲ $519
Total Liabilities$25,160$25,721▲ $561
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,352,900$2,352,900→ $0
Net Assets Without Donor Restrictions$-980,677$-1,034,836▼ $54,159
Total Net Assets Fund Balance$1,372,223$1,318,064▼ $54,159
Total Liabilities and Net Assets / Fund Balance$1,397,383$1,343,785▼ $53,598

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$827,878$1,313,767$2,141,645
Land$266,072-$266,072
Equipment-$77,252$77,252
Other Land Buildings$1,062$33,164$34,226
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Steve ChaoPresident
Charles KuVice President
Eric KoSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$265,671
Investment Income
$693
Other Revenue
$0
Change in Net Assets
$-54,159

Audited Revenue Reconciliation

Revenue per Audited Statements
$266,364
Total Revenue per Audited Statements
$266,364
Total Revenue per Form 990
$266,364
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$245,595
Salaries, Compensation, and Employee Benefits$74,928
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$56,915--$56,915
Depreciation Depletion$55,710--$55,710
Fees for Services Management$35,120--$35,120
Fees for Services Accounting$18,432--$18,432
Insurance$18,122--$18,122
Other Employee Benefits$13,690--$13,690
Other Expenses$5,842--$5,842
Payroll Taxes$4,323--$4,323
All Other Expenses$2,311--$2,311
Total Functional Expenses$320,523$0$0$320,523

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$320,523
Total Expenses per Audited Statements$320,523
Total Expenses per Form 990$320,523
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
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Tenant security deposits$9,086
Prepaid Rent$1,079
Rounding$2
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
Yes
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
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company

“Property management delegated to a third party professional property management company. All of the organizations salaries and benefits are paid by the property management company directly to property management company employees.”

Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings

“There are no committees with authority to act on behalf of the governing body.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“990 reviewed by property management company and copy provided to governing body for final approval.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Documents available to public upon request.”

Filing and Contact Details

Filer

Filer Name
Sunray Communities Inc
EIN
75-2543538
Phone
9727138888
Address
148 RED OAK LN, FLOWER MOUND, TX 75028

Signing Officer

Name
Steve Chao
Title
President
Signed
2020-09-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Chao
Formed
1994
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
M Group Llp
Address
515 W SOUTHLAKE BLVD Ste 150, SOUTHLAKE, TX 76092-6176
Preparer
Michael C Martin
Phone
8178651360
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Effective January, 2009, the rules governing uncertainty in income taxes for nonpublic enterprises changed. These rules require additional disclosures for situations, if any, where the Company's tax positions are considered uncertain. This did not have a material effect on the Company's results of operations or financial position.”

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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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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01291804
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0290
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0279
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02075
IRS990ScheduleA/InvestmentIncomeCYPct00.00160
IRS990ScheduleA/InvestmentIncomePYPct00.00130
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt0535
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt0262
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt0958
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
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IRS990ScheduleA/PublicSupportCY509Pct00.99770
IRS990ScheduleA/PublicSupportPY509Pct00.99770
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IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0233482
IRS990ScheduleA/Total509Grp/TotalAmt01291804
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0266364
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0267250
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0264901
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0262400
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0233922
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt077252
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt077252
IRS990ScheduleD/ExpensesSubtotalAmt0320523
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0266072
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt01062
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt033164
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt034226
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01079
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt12
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt29086
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Rounding
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2Tenant security deposits
IRS990ScheduleD/RevenueSubtotalAmt0266364
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Effective January, 2009, the rules governing uncertainty in income taxes for nonpublic enterprises changed. These rules require additional disclosures for situations, if any, where the Company's tax positions are considered uncertain. This did not have a material effect on the Company's results of operations or financial position.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
IRS990ScheduleD/TotalBookValueLandBuildingsAmt01095012
IRS990ScheduleD/TotalExpensesPerForm990Amt0320523
IRS990ScheduleD/TotalLiabilityAmt010167
IRS990ScheduleD/TotalRevenuePerForm990Amt0266364
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0266364
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0320523
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Property management delegated to a third party professional property management company. All of the organizations salaries and benefits are paid by the property management company directly to property management company employees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1There are no committees with authority to act on behalf of the governing body.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2990 reviewed by property management company and copy provided to governing body for final approval.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Documents available to public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 8: Explanation of No Contemporaneously Documentation of Meetings
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalLiabilitiesGrp/EOYAmt025721
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02153 Springwood
IRS990/USAddress/CityNm0Carrollton
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075006
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02021-01-29 14:40:06Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Steve Chao
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-09-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUNRAY COMMUNITIES INC
ReturnHeader/Filer/BusinessNameControlTxt0SUNR
ReturnHeader/Filer/EIN0752543538
ReturnHeader/Filer/PhoneNum09727138888
ReturnHeader/Filer/USAddress/AddressLine1Txt0148 RED OAK LN

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$1,343,785
Liabilities
$25,721
Net assets
$1,318,064
Revenue
$266,364
Expenses
$320,523
Net income
-$54,159
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.08$0.05$1.03$0.33$0.36$0.03
2023Detailed filing. Detailed filing data is available for this year.$1.09$0.03$1.06$0.31$0.35$0.04
2022Detailed filing. Detailed filing data is available for this year.$1.15$0.05$1.10$0.29$0.35$0.07
2021Detailed filing. Detailed filing data is available for this year.$1.23$0.07$1.17$0.28$0.36$0.08
2020Detailed filing. Detailed filing data is available for this year.$1.29$0.04$1.25$0.27$0.34$0.07
2019Detailed filing. Detailed filing data is available for this year.$1.34$0.03$1.32$0.27$0.32$0.05
2018Detailed filing. Detailed filing data is available for this year.$1.40$0.03$1.37$0.27$0.31$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.61$2.40$0.78$0.26$0.28$0.02
2016Detailed filing. Detailed filing data is available for this year.$1.56$2.32$0.76$0.26$0.29$0.02
2015Detailed filing. Detailed filing data is available for this year.$1.60$2.34$0.74$0.23$0.28$0.05
2014Detailed filing. Detailed filing data is available for this year.$1.64$2.33$0.69$0.23$0.29$0.05
2013Detailed filing. Detailed filing data is available for this year.$1.70$2.34$0.64$0.23$0.28$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.75$2.32$0.58$0.27
2011Summary only. Only limited summary data is available for this year.$1.80$2.32$0.52$0.23$0.26$0.03
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.83$2.33$0.49$0.29