Communtiy Apartments Corporation of Metrolina 5

Analysis

Communtiy Apartments Corporation of Metrolina 5 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in August 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Communtiy Apartments Corporation of Metrolina 5 reported income of $61k and spending of $72k, spending 118% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $61k to $61k (+0.9%), an average of +0.2% a year. Over the whole period it spent 117% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Communtiy Apartments Corporation of Metrolina 5 sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 22nd percentile within NC. Charities of a similar size with the same main cause include Efcdc Financial Support Corporation ($61k), Grey Eagle Housing Association ($61k) and Bridgeport Estates Inc ($61k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. At year end it held assets of $624k against liabilities of $884k, net assets of -$260k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.