TRYON PALACE FOUNDATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1992

Legal Domicile

Principal Officer

ANNE SCHOUT

Phone

2526393611

Tax Period

2024-01-01 to 2024-12-31

TRYON PALACE FOUNDATION INC, founded in 1992, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.0M in total revenue in fiscal year 2024. Revenue surged 119% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.0M, a strong 67% operating margin.

Mission

THE MISSION OF THE TRYON PALACE FOUNDATION IS TO SUPPORT THE TRYON PALACE HISTORIC SITES AND GARDENS BY PROTECTING, PRESERVING, AND DEVELOPING THE LEGACY OF ITS HISTORICAL PAST. WE ACCOMPLISH THIS THROUGH EDUCATION OF CHILDREN AND VISITORS FROM AROUND THE GLOBE, BY BEING GOOD STEWARDS OF WHAT HAS BEEN ENTRUSTED TO US AND BY ENSURING ITS FUTURE FOR PRESENT AND FUTURE GENERATIONS.

Program Service Accomplishments

Program 1

Expenses: $647,272

AS A SUPPORTING ORGANIZATION, TRYON PALACE FOUNDATION USES FUNDS RAISED FROM CONTRIBUTIONS, MEMBERSHIP, GRANTS, AND PROCEEDS FROM FUNDRAISING EVENTS, TO SUPPORT TRYON PALACE IN FULFILLING ITS...

AS A SUPPORTING ORGANIZATION, TRYON PALACE FOUNDATION USES FUNDS RAISED FROM CONTRIBUTIONS, MEMBERSHIP, GRANTS, AND PROCEEDS FROM FUNDRAISING EVENTS, TO SUPPORT TRYON PALACE IN FULFILLING ITS MISSION.FUNDING SUPPORTS GENERAL OPERATIONS, EDUCATIONAL PROGRAMMING, LECTURES AND SPECIAL EVENTS, HISTORIC INTERPRETATION GROUPS, NEW EXHIBIT OPENINGS, AN AWARDS PROGRAM THAT OFFSETS THE COST OF FIELD TRIPS AND OUTREACH PROGRAMS FOR TITLE I SCHOOLS. IN 2024, TWO FOUNDATION FUNDRAISERS GENERATED UNRESTRICTED FUNDS IN SUPPORT OF TRYON PALACE'S MISSION AND PROGRAMS. THE FOUNDATION OWNS PROPERTY IN DOWNTOWN NEW BERN FOR USE AS A COMMUNITY PARK AND EDUCATIONAL SITE. THIS PROPERTY WILL ALSO BE THE SITE OF THE NEW Z. SMITH REYNOLDS INCLUSIVE PUBLIC ART PIECE. THE TRYON PALACE ANNEX IS ANOTHER SITE OWNED AND MAINTAINED BY THE FOUNDATION FOR USE AS A TRYON PALACE COLLECTIONS CONSERVATION LAB, WORK AREA, AND STORAGE SPACE.

Program 2

Expenses: $69,159

PROMOTION OF SPECIAL HISTORIC, EDUCATIONAL, AND CULTURAL EVENTS AT TRYON PALACE.THE FOUNDATION WAS GIFTED PROPERTY IN DOWNTOWN NEW BERN TO BE USED AS A COMMUNITY PARK AND EDUCATIONAL SITE. THIS SITE ALLOWS FOR TRYON PALACE REENACTMENT GROUPS TO INTERPRET HISTORY IN A VERY VISIBLE LOCATION, EXTENDING REACH TO DOWNTOWN VISITORS. IN 2024, THE FOUNDATION RECEIVED A GRANT FOR ARCHAEOLOGICAL SURVEYANCE TO CLERMONT, A TRYON PALACE PROPERTY PLANNED FOR FUTURE DEVELOPMENT AS AN EDUCATIONAL HISTORIC SITE INCLUDING NATURE TRAILS AND PROGRAMS THAT FOCUS ON ARCHAEOLOGY, THE INDIGENOUS PEOPLES WHO ONCE LIVED THERE, CIVIL WAR HISTORY AND INFORMATION ON RICHARD DOBBS SPAIGHT (REVOLUTION). THE FOUNDATION CONTINUES TO PROVIDE SUPPORT FOR SPECIAL PROGRAMMING AND FOR OUR REENACTMENT INTERPRETIVE GROUPS.

Program 3

Expenses: $140,164 Revenue: $3,238

THE FOUNDATION PROMOTES AND ADVOCATES FOR EDUCATIONAL PROGRAMMING FOR ADULTS AND CHILDREN.THE PALACE SCHOLARS PROGRAM HELPS TO OFFSET COSTS FOR FIELD TRIPS TO TRYON PALACE FOR TITLE I SCHOOLS. IN...

THE FOUNDATION PROMOTES AND ADVOCATES FOR EDUCATIONAL PROGRAMMING FOR ADULTS AND CHILDREN.THE PALACE SCHOLARS PROGRAM HELPS TO OFFSET COSTS FOR FIELD TRIPS TO TRYON PALACE FOR TITLE I SCHOOLS. IN 2024, MORE THAN $47,000 WAS AWARDED TO 56 TITLE I SCHOOLS ENABLING APPROXIMATELY 4,000 STUDENTS TO TAKE A FIELD TRIP TO TRYON PALACE. FUNDED WITH A GRANT RECEIVED FROM THE ANONYMOUS TRUST, THE PALACE SCHOLARS OUTREACH PROGRAM BRINGS COSTUMED INTERPRETERS INTO THE CLASSROOM OF TITLE I SCHOOLS WHO ARE UNABLE TO TRAVEL TO TRYON PALACE. THE INTERPRETERS DELIVER LESSONS THAT FOCUS ON TRYON PALACE'S COLONIAL HISTORY, AS WELL AS 18TH CENTURY FIBER ARTS AND MILITARY LIFE. IN 2024, THE COSTUMED INTERPRETERS TRAVELLED TO 18 SCHOOLS AND DELIVERED LIVING HISTORY LESSONS AND HANDS-ON DEMONSTRATIONS TO NEARLY 1,700 STUDENTS.IN JANUARY AND FEBRUARY 2024, THE FOUNDATION WORKED IN PARTNERSHIP WITH THE CRAVEN COMMUNITY COLLEGE LIFETIME LEARNING CENTER TO BRING 3 PROGRAMS TO TRYON PALACE THAT FOCUSED ON NEW BERN HISTORY WITH SPEAKERS FROM NC DNCR ARCHIVES, TRYON PALACE STAFF AND A WELL-KNOWN EASTERN NORTH CAROLINA HISTORIAN.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,692,150

Program Service Revenue $3,238

Investment Income $336,095

Other Revenue $5,998

TOTAL REVENUE $3,037,481

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $26,077

Program Expenses $856,595

Other Expenses $1,003,252

TOTAL EXPENSES $1,003,252

Year-over-Year Comparison

	2024	2023	Change
Revenue	$3,037,481	$1,384,157	+1.2%
Expenses	$1,003,252	$510,873	+1.0%
Net Income	$2,034,229	$873,284	+1.3%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

357

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$20,000

Total Directors

$52,640

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR JAMES COPLAND IV	DIRECTOR	3.25	Director	$0	$0	$0
MS ROZANNE B MCCOTTER	DIRECTOR	3.25	Director	$0	$0	$0
MR CRAIG ALLEN	DIRECTOR	3.25	Director	$0	$0	$0
MR RANDAL HUNTER	VICE PRESIDENT	3.25	Officer Director	$0	$0	$0
MR ROSS HARDEMAN	DIRECTOR	3.25	Director	$0	$0	$0
MS SUSAN MOFFAT THOMAS	DIRECTOR	3.25	Director	$0	$0	$0
MS CAROLE KEMP	DIRECTOR	3.25	Director	$0	$0	$0
MR THOMAS MONTE	DIRECTOR	5.00	Director	$0	$0	$0
MS SALLIE BAXTER	DIRECTOR	3.25	Director	$0	$0	$0
MR MARK GATLIN	DIRECTOR	3.25	Director	$0	$0	$0
MS CAROL MATTOCKS	DIRECTOR	3.25	Director	$0	$0	$0
MS CECE MAY SCOTT	DIRECTOR	3.25	Director	$0	$0	$0
MR PARESH PANKHAVALA	DIRECTOR	3.25	Director	$0	$0	$0
MS ANNE SCHOUT	PRESIDENT	5.00	Officer Director	$0	$0	$0
MR JUDSON MCADEN	DIRECTOR	3.25	Director	$0	$0	$0
MR JIM ROBINSON	DIRECTOR	3.25	Director	$0	$0	$0
MS CATHERINE LITTLE	DIRECTOR	3.25	Director	$0	$0	$0
MR LEE HODGE	DIRECTOR	3.25	Director	$0	$0	$0
MR JOE ANDERSON	DIRECTOR	3.25	Director	$32,640	$0	$32,640
MR WILLIAM S CORBITT	DIRECTOR	3.25	Director	$0	$0	$0
MR JOHN W KING	DIRECTOR	3.25	Director	$0	$0	$0
MR BILL KWASNICK	DIRECTOR	3.25	Director	$0	$0	$0
MR DAWN PEELE	DIRECTOR	3.25	Director	$0	$0	$0
MS CHRYSTAL REGAN ED	SECRETARY/TREASURER	5.00	Officer Director	$20,000	$0	$20,000
MR WILLIAM HOLLOWELL	DIRECTOR	3.25	Director	$0	$0	$0
MR DARIN WATERS	EX-OFFICIO	3.25	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$3,037,481	$1,003,252	$9,633,044	$2,034,229
2023	$1,384,157	$510,873	$7,349,472	$873,284
2022	$781,725	$460,948	$5,996,950	$320,777
2021	$1,856,143	$1,153,286	$6,143,805	$702,857
2020	$1,468,918	$556,902	$5,446,655	$912,016
2019	$955,753	$738,336	$4,394,642	$217,417
2018	$1,268,550	$498,023	$3,911,883	$770,527