Chadwick Apartments Inc

Analysis

Chadwick Apartments Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in October 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 June 2023, Chadwick Apartments Inc reported income of $287k and spending of $321k, spending 112% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $263k to $287k (+8.9%), an average of +2.9% a year. Over the whole period it spent 112% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Chadwick Apartments Inc sits at the 45th percentile: it is larger than about 45% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 59th percentile within NC. Charities of a similar size with the same main cause include Pontchartrain Housing Corp I ($287k), Lowcountry Housing & Redevelopment Corporation ($287k) and Lincoln Foundation Inc ($287k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 41% and program service revenue 54% of the total. At year end it held assets of $1.2m against liabilities of $2.2m, net assets of -$944k.

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.