Community Apartments Corporation of Rutherford County 2

Analysis

Community Apartments Corporation of Rutherford County 2 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in May 2002, 24 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, Community Apartments Corporation of Rutherford County 2 reported income of $54k and spending of $84k, spending 157% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $59k to $54k (-9.8%), an average of -2.6% a year. Over the whole period it spent 124% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Community Apartments Corporation of Rutherford County 2 sits at the 12th percentile: it is larger than about 12% of them. Against every charity in United States with reported income it ranks in the 21st percentile, and in the 19th percentile within NC. Charities of a similar size with the same main cause include Ross Creek Housing Phase II Inc ($54k), Calm Water Bridge ($54k) and Friends of the Homeless Inc ($54k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. At year end it held assets of $496k against liabilities of $782k, net assets of -$286k.

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.