Community Apartments Corporation of Metrolina No 4

Analysis

Community Apartments Corporation of Metrolina No 4 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in January 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 Metrolina No 4 reported income of $59k and spending of $78k, spending 132% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $65k to $59k (-8.2%), an average of -2.1% a year. Over the whole period it spent 116% 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 No 4 sits at the 13th percentile: it is larger than about 13% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 21st percentile within NC. Charities of a similar size with the same main cause include Humankindr ($59k), LCPL Janos V Lutz Live to Tell Foundation Inc ($59k) and Lifetime Community Homes Inc ($59k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 63% and program service revenue 37% of the total. At year end it held assets of $524k against liabilities of $795k, net assets of -$272k.

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.