Civic Intelligence

Sunray Communities Inc.

990 • Fiscal year 2022 • EIN 75-2543538

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 10, 2023

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

46th percentile

0.05x

Higher debt load relative to assets than 46% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

65th percentile

0.19x

Higher debt load relative to revenue than 65% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

13th percentile

-24%

Higher net margin than 13% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

26th percentile

-6.6%

Faster asset growth than 26% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

46th percentile

3.4%

Faster revenue growth than 46% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets46th percentile

Assets

Down

$1,152,916

Down $81,456 (-6.6%) from 2021

Net Assets

Down

$1,099,814

Down $68,616 (-5.9%) from 2021

Liabilities

Down

$53,102

Down $12,840 (-19%) from 2021

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin13th percentile

Revenue

Up

$286,066

Up $9,310 (+3.4%) from 2021

Expenses

Down

$354,682

Down $3,632 (-1.0%) from 2021

Net Income

Up

-$68,616

Up $12,942 (+16%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth26th 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

2022

Assets$1,152,916
Liabilities$53,102
Net Assets$1,099,814
Open 2022 Filing

Operations Trend

Revenue Growth46th 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

2022

Revenue$286,066
Expenses$354,682
Net Income-$68,616
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 10, 2023
Return Version
2022v5.0
Gross Receipts
$286,066
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$984,706$929,795▼ $54,911
Savings and Temporary Cash Investments$234,010$208,981▼ $25,029
Prepaid Expenses and Deferred Charges$5,677$6,187▲ $510
Cash and Non-Interest-Bearing Accounts$5,538$4,274▼ $1,264
Accounts Receivable$941$179▼ $762
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$1,234,372$1,152,916▼ $81,456
Other Assets Total$3,500$3,500→ $0
Liabilities
Accounts Payable and Accrued Expenses$53,648$40,318▼ $13,330
Other Liabilities$12,294$12,784▲ $490
Total Liabilities$65,942$53,102▼ $12,840
Net Assets / Fund Balance
Net Assets With Donor Restrictions$2,352,900$2,352,900→ $0
Net Assets Without Donor Restrictions$-1,184,470$-1,253,086▼ $68,616
Total Net Assets Fund Balance$1,168,430$1,099,814▼ $68,616
Total Liabilities and Net Assets / Fund Balance$1,234,372$1,152,916▼ $81,456

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$663,615$1,478,030$2,141,645
Land$266,072-$266,072
Equipment$2$77,250$77,252
Other Land Buildings$106$23,315$23,421
Compensation and Service Providers
Top Officer Pay39th 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
$285,515
Investment Income
$551
Other Revenue
$0
Change in Net Assets
$-68,616

Audited Revenue Reconciliation

Revenue per Audited Statements
$286,066
Total Revenue per Audited Statements
$286,066
Total Revenue per Form 990
$286,066
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$269,891
Salaries, Compensation, and Employee Benefits$84,791
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$66,882--$66,882
Depreciation Depletion$54,911--$54,911
Fees for Services Management$36,575--$36,575
Insurance$30,836--$30,836
Other Employee Benefits$12,535--$12,535
Fees for Services Accounting$11,832--$11,832
Office Expenses$10,296--$10,296
Other Expenses$5,906--$5,906
Payroll Taxes$5,374--$5,374
All Other Expenses$1,578--$1,578
Total Functional Expenses$354,682$0$0$354,682

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$354,682
Total Expenses per Audited Statements$354,682
Total Expenses per Form 990$354,682
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$11,705
Prepaid Rent$1,079
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, Section A, Line 3

“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, Section A, Line 8B

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

Form 990, Part VI, Section B, Line 11B

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

Form 990, Part VI, Section C, Line 19

“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
2023-11-10
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
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.”

Raw XML AppendixShowing 400 of 414 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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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt0693
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0447
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0285515
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0276470
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0268301
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0265671
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0266803
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01362760
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt00
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt0551
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus1YearAmt0286
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus2YearsAmt0514
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus3YearsAmt0693
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0447
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/TotalAmt02491
IRS990ScheduleA/InvestmentIncomeCYPct00.00180
IRS990ScheduleA/NetIncomeFromOtherUBIGrp/TotalAmt00
IRS990ScheduleA/OtherIncome509Grp/TotalAmt00
IRS990ScheduleA/Post1975UBTIGrp/TotalAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY509Pct00.99820
IRS990ScheduleA/PublicSupportTotal509Amt01362760
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY509Ind0X
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt0285515
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0276470
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt0268301
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0265671
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0266803
IRS990ScheduleA/Total509Grp/TotalAmt01362760
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0286066
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0276756
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0268815
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0266364
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0267250
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01365251
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/BuildingsGrp/BookValueAmt0663615
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01478030
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02141645
IRS990ScheduleD/EquipmentGrp/BookValueAmt02
IRS990ScheduleD/EquipmentGrp/DepreciationAmt077250
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt077252
IRS990ScheduleD/ExpensesSubtotalAmt0354682
IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0266072
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0106
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt023315
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt023421
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01079
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt111705
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PREPAID RENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1Tenant security deposits
IRS990ScheduleD/RevenueSubtotalAmt0286066
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
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IRS990ScheduleD/TotalExpensesPerForm990Amt0354682
IRS990ScheduleD/TotalLiabilityAmt012784
IRS990ScheduleD/TotalRevenuePerForm990Amt0286066
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0286066
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0354682
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, Section A, Line 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section A, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section C, Line 19
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
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IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0Garland
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd075044
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IRS990/WebsiteAddressTxt0N/A
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/FederatedAssuranceLevelCd0FAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0Steve Chao
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SUNRAY COMMUNITIES INC
ReturnHeader/Filer/BusinessNameControlTxt0SUNR
ReturnHeader/Filer/EIN0752543538
ReturnHeader/Filer/PhoneNum09727138888
ReturnHeader/Filer/USAddress/AddressLine1Txt0148 RED OAK LN
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0263548566

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,152,916
Liabilities
$53,102
Net assets
$1,099,814
Revenue
$286,066
Expenses
$354,682
Net income
-$68,616
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