Community Apartments Corporation of Rockingham County

Analysis

Community Apartments Corporation of Rockingham County is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in April 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, Community Apartments Corporation of Rockingham County reported income of $62k and spending of $80k, spending 130% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $56k to $62k (+9.3%), an average of +2.2% a year. The sharpest change came in the year to September 2022, when income rose by 19%. Over the whole period it spent 137% 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 Rockingham County 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 Community Apartments Corporation of Stanley County ($62k), Anchors Supportive Housing Development Inc ($62k) and Emmaus Housing ($62k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 66% and program service revenue 34% of the total. At year end it held assets of $674k against liabilities of $1.0m, net assets of -$355k.

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.