Tryon Palace Foundation Inc

Analysis

Tryon Palace Foundation Inc is a registered charity in United States, based in New Bern, NC. It received its IRS tax-exemption ruling in April 1993, 33 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 December 2023, Tryon Palace Foundation Inc reported income of $1.4m and spending of $511k, leaving 63% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $956k to $1.4m (+45%), an average of +9.7% a year. The sharpest change came in the year to December 2023, when income rose by 77%. Over the whole period it spent 53% 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 Palace Foundation Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 83rd percentile within NC. Charities of a similar size with the same main cause include Avenue Concept Inc ($1.4m), Musicall Inc ($1.4m) and Honor Flight Columbus Inc ($1.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% and program service revenue 0.2% of the total. At year end it held assets of $7.3m against liabilities of $81k, net assets of $7.3m.