Community Apartments Corporation of Cumberland County

Analysis

Community Apartments Corporation of Cumberland County is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in July 1992, 34 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 Cumberland County reported income of $83k and spending of $73k, spending 88% of its income. Across the 2 years on record, from September 2022 to September 2023, income grew from $79k to $83k (+5.0%), an average of +5.0% a year. Over the whole period it spent 94% 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 Cumberland County sits at the 18th percentile: it is larger than about 18% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 30th percentile within NC. Charities of a similar size with the same main cause include Associaton of Washington Housing Authorities ($83k), Independence Square Apartments II ($83k) and Community Apartments Corporation of Franklin County ($83k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. At year end it held assets of $303k against liabilities of $636k, net assets of -$333k.