Community Apartments Corporation of Metrolina 3

Analysis

Community Apartments Corporation of Metrolina 3 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in March 1999, 27 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 Metrolina 3 reported income of $73k and spending of $71k, spending 98% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $67k to $73k (+8.3%), an average of +2.0% a year. Over the whole period it spent 102% 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 Metrolina 3 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 Rebuilding Together-Lincoln County ($73k), Kirkland Homes Inc ($73k) and Eastern Star of Massachusetts Charitable Foundation Inc ($73k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 67% and program service revenue 32% of the total. At year end it held assets of $542k against liabilities of $690k, net assets of -$148k.