Community Apartments Corporation of Alamance County 2

Analysis

Community Apartments Corporation of Alamance County 2 is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in February 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (donations from the general public) 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 Alamance County 2 reported income of $88k and spending of $99k, spending 113% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $68k to $88k (+29%), an average of +6.5% a year. The sharpest change came in the year to September 2020, when income rose by 17%. Over the whole period it spent 125% 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 Alamance County 2 sits at the 29th percentile: it is larger than about 29% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 31st percentile within NC. Charities of a similar size with the same main cause include Gift of Life America Fund Inc ($88k), St Nicholas Place Inc ($88k) and San Antonio Womens Hall of Fame ($88k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 42% and program service revenue 58% of the total. At year end it held assets of $973k against liabilities of $1.3m, net assets of -$355k.

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.