Community Apartments Corporation of Carteret County

Analysis

Community Apartments Corporation of Carteret County is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in December 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 Carteret County reported income of $51k and spending of $64k, spending 126% of what it took in. Across the 2 years on record, from September 2022 to September 2023, income fell from $55k to $51k (-7.0%), an average of -7.0% a year. Over the whole period it spent 124% 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 Carteret County sits at the 11th percentile: it is larger than about 11% of them. Against every charity in United States with reported income it ranks in the 20th percentile, and in the 18th percentile within NC. Charities of a similar size with the same main cause include Greater Local Neighborhoods Community Development Corporation ($51k), Arc Cape May Housing Inc ($51k) and Sharon Housing Trust Inc ($51k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 55% and program service revenue 44% of the total. At year end it held assets of $311k against liabilities of $587k, net assets of -$276k.