Tryon Downtown Development

Analysis

Tryon Downtown Development is a registered charity in United States, based in Tryon, NC. It received its IRS tax-exemption ruling in January 2000, 26 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2023, Tryon Downtown Development reported income of $65k and spending of $53k, spending 81% of its income. Across the 2 years on record, from June 2022 to June 2023, income grew from $27k to $65k (+140%), an average of +140% a year. The sharpest change came in the year to June 2023, when income rose by 140%. Over the whole period it spent 99% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Tryon Downtown Development 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 26th percentile, and in the 24th percentile within NC. Charities of a similar size with the same main cause include Valley Light Opera Inc ($65k), Coeur Dalene Carousel Foundation ($65k) and New Mexico Film Foundation ($65k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 40% of the total. At year end it held assets of $121k against liabilities of $1,683, net assets of $120k.