Community Apartments Borrower Corporation

Analysis

Community Apartments Borrower Corporation is a registered charity in United States, based in Dumfries, VA. It received its IRS tax-exemption ruling in July 1991, 35 years ago. 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 June 2023, Community Apartments Borrower Corporation reported income of $193k and spending of $209k, spending 108% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $181k to $193k (+6.6%), an average of +2.2% a year. Over the whole period it spent 107% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Community Apartments Borrower Corporation sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 53rd percentile within VA. Charities of a similar size with the same main cause include Cuyahoga Valley Youth Ballet ($193k), Project Crossroads Inc ($193k) and Alcoholics Anonymous of Greater Detroit ($193k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 59% and program service revenue 41% of the total. At year end it held assets of $1.1m against liabilities of $1.6m, net assets of -$546k.

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.