Community Apartments Corporation of Metrolina 2

Analysis

Community Apartments Corporation of Metrolina 2 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Metrolina 2 reported income of $78k and spending of $87k, spending 111% of what it took in. Across the 2 years on record, from September 2022 to September 2023, income grew from $66k to $78k (+19%), an average of +19% a year. The sharpest change came in the year to September 2023, when income rose by 19%. Over the whole period it spent 118% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Community Apartments Corporation of Metrolina 2 sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 28th percentile within NC. Charities of a similar size with the same main cause include Rohhad Fight Inc ($78k), Nicole Ellis Foundation Inc ($78k) and Robert Smalls Legacy Foundation ($78k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 47% and program service revenue 53% of the total. At year end it held assets of $383k against liabilities of $711k, net assets of -$328k.