Community Apartments Corporation of of Metrolina 8

Analysis

Community Apartments Corporation of of Metrolina 8 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in March 2006, 20 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 (donations from the general public) 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 of Metrolina 8 reported income of $55k and spending of $64k, spending 116% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $51k to $55k (+8.4%), an average of +2.0% a year. The sharpest change came in the year to September 2023, when income rose by 16%. Over the whole period it spent 112% 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 of Metrolina 8 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 20th percentile within NC. Charities of a similar size with the same main cause include Waltham Properties Inc ($55k), MV Central Park Apartments Inc ($55k) and Partridge Center Inc ($55k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 51% and program service revenue 49% of the total. At year end it held assets of $566k against liabilities of $687k, net assets of -$120k.

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.