Community Apartments Corporation of Iredell County

Analysis

Community Apartments Corporation of Iredell County is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in June 2000, 26 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 Iredell County reported income of $64k and spending of $60k, spending 94% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $57k to $64k (+11%), an average of +2.7% 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 Iredell County sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 23rd percentile within NC. Charities of a similar size with the same main cause include Cape May Project Inc ($64k), Affordable Housing Community Services ($64k) and Mens Sober House of Lufkin Inc ($64k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 40% and program service revenue 60% of the total. At year end it held assets of $516k against liabilities of $679k, net assets of -$163k.