Community Apartments Corporation of Wilson County 3

Analysis

Community Apartments Corporation of Wilson County 3 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in September 2004, 22 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 Wilson County 3 reported income of $72k and spending of $102k, spending 143% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $96k to $72k (-25%), an average of -7.0% a year. The sharpest change came in the year to September 2020, when income dropped by 22%. Over the whole period it spent 128% 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 Wilson County 3 sits at the 16th percentile: it is larger than about 16% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within NC. Charities of a similar size with the same main cause include Minot Area Community Land Trust ($72k), Glenmore Hosuing Inc ($72k) and Taylor Apartments Inc ($71k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 52% and program service revenue 47% of the total. At year end it held assets of $843k against liabilities of $1.3m, net assets of -$430k.

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.