Community Apartments Corporation of Rowan County

Analysis

Community Apartments Corporation of Rowan 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 Rowan County reported income of $71k and spending of $83k, spending 117% of what it took in. Across the 2 years on record, from September 2022 to September 2023, income fell from $77k to $71k (-8.2%), an average of -8.2% a year. Over the whole period it spent 108% 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 Rowan County 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 Interstate I Affordable Housing Inc ($71k), Landis Quality Living ($71k) and Gateway to Glory ($71k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. At year end it held assets of $318k against liabilities of $656k, net assets of -$338k.