Galax Community Apartments Corporation

Analysis

Galax Community Apartments Corporation is a registered charity in United States, based in Christiansbrg, VA. It received its IRS tax-exemption ruling in July 1991, 35 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Galax Community Apartments Corporation reported income of $73k and spending of $91k, spending 125% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $73k to $73k (-0.6%), an average of -0.6% a year. Over the whole period it spent 118% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Galax Community Apartments Corporation sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 28th percentile within VA. Charities of a similar size with the same main cause include PTA California Congress of Parents Teachers & Students Inc ($73k), Camelot Family Foundation Inc ($73k) and International Association of Lions Clubs ($73k).

On its Form 990-EZ for the period ending December 2023, revenue came from program service revenue 99% of the total. At year end it held assets of $344k against liabilities of $4,067, net assets of $340k.