Community Apartments Corporation of Davidson County

Analysis

Community Apartments Corporation of Davidson County is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in March 2001, 25 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 Davidson County reported income of $69k and spending of $84k, spending 123% of what it took in. Across the 4 years on record, from September 2019 to September 2023, income grew from $58k to $69k (+19%), an average of +6.0% a year. The sharpest change came in the year to September 2023, when income rose by 21%. Over the whole period it spent 130% 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 Davidson County sits at the 15th percentile: it is larger than about 15% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 25th percentile within NC. Charities of a similar size with the same main cause include Arcadia Place Inc ($69k), Im-Possible Inc ($69k) and Paragon Homes for Elderly Inc ($69k).

On its Form 990-EZ for the period ending September 2023, revenue came from contributions and grants 62% and program service revenue 38% of the total. At year end it held assets of $466k against liabilities of $771k, net assets of -$305k.

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.