Tryon Palace Foundation INC: FY2022 Nonprofit Profile & Form 990 (EIN 56-1795949)

Mr Joe Anderson’s $33K as Director is at the 2nd percentile of top reported officer pay among 3924 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 5 named individuals · Part VII

Name	FY2024	FY2023	FY2022	FY2021	FY2020
Mr Joe Anderson	$32,640	$24,960	—	—	—
Ms Chrystal Regan Ed	$20,000	—	—	—	—
Mr William J McCrea	—	—	$20,000	$20,000	$20,000
Ms Chrystal Regan July-Dec	—	$9,996	—	—	—
Mr William J McCrea Jan-Mar	—	$4,998	—	—	—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports Tryon Palace, a historic North Carolina state site.

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3 programs · $300K · in their own filed words · FY2022

01

Promotion of special historic, educational, and cultural events at tryon PALACE.THE foundation received a grant in 2021, which was extended into 2023, to assist in the facilitation of 4 programs at tryon palace.

$199Kprogram expense

02

Promotion of educational programs for adults and children, thereby providing additional exposure to the historical and cultural mission of tryon palace. In addition, the foundation's palace scholars program provides field trip opportunities for students attending title I schools in north carolina.

$51Kprogram expense

03

As a supporting organization, tryon palace foundation uses funds from grants and contributions to help tryon palace maintain its buildings, grounds, museum, and educational programming. The organization also provides funding for cultural and historical exhibits at tryon palace.

$51Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record

Grants received · FY2025

Mariam and Robert Hayes Charitable TrFY2025$50K

Total grants receivedfrom 1 funder$50K

By the numbers

The FY2022 990, line by line.

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1The main four

Money inPt VIII

$782K

Ln 12

Gifts and grantsLn 1h$770K

Investment incomeLn 3$19K

Fees for servicesLn 2g$250

Money outPt IX

$461K

Ln 25

Programscol B$300K

Managementcol C$119K

Fundraisingcol D$41K

Owns and owesPt X

$5.8M

net assets · Ln 32

Cash and savingsLn 1–2$2.0M

Total assetsLn 16$6.0M

LiabilitiesLn 26$164K

PeoplePt VI, VII

28

listed · VII A

PaidVII A1

Voting boardVI 1a27

IndependentVI 1b27

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$770K

Noncash giftsLn 1g$6K

Fundraising eventsLn 1c$63K

Fees for servicesLn 2g$250

Investment incomeLn 3$19K

Gains on assetsLn 7−$49K

Total revenueLn 12$782K

Assets in detailPt X, end of year

CashLn 1$200

SavingsLn 2$2.0M

Cash and savings togetherLn 1–2$2.0M

InvestmentsLn 11–13$3.0M

Land, buildings, equipmentLn 10c$940K

Other assetsLn 15$62K

Total assetsLn 16$6.0M

LiabilitiesLn 26$164K

Net assetsLn 32$5.8M

OperationsPt I, VI

EmployeesI 50

VolunteersI 6433

Fiscal year endsHeaderDecember

Conflict-of-interest policyVI 12aYes

Whistleblower policyVI 13Yes

Records policyVI 14Yes

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$1.5M	$2.0M
InvestmentsLn 11–13	$3.6M	$3.0M
Land, buildings, equipmentLn 10c	$982K	$940K
Total assetsLn 16	$6.1M	$6.0M
LiabilitiesLn 26	$16K	$164K
Net assetsLn 32	$6.1M	$5.8M

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Accounting feesLn 11c	$16K		$16K
Investment management feesLn 11f	$19K		$19K
Advertising and promotionLn 12	$38K	$33K	$5K
Office expensesLn 13	$2K		$2K
Depreciation, depletion and amortizationLn 22	$10K	$6K	$2K	$2K
InsuranceLn 23	$3K		$3K
Other expenses (24a–d)Ln 24	$285K	$184K	$64K	$37K
All other expensesLn 24e	$88K	$77K	$8K	$3K
Total functional expensesLn 25	$461K	$300K	$119K	$41K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest	$3.0M	$1.0M	$2.0M	$9.5M	990 PDF
FY2023	$1.4M	$511K	$873K	$7.3M	990 PDF
FY2022 Viewing	$782K	$461K	$321K	$5.8M	990 PDF
FY2021	$1.9M	$1.2M	$703K	$6.1M	990 PDF
FY2020	$1.5M	$557K	$912K	$5.4M	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2022 990 (6 parts)

Part I · Summary $781,725 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $1,616,109$769,898

I-9 Program service revenuePrior year $150$250

I-10 Investment incomePrior year $261,660$19,072

I-11 Other revenuePrior year −$21,776−$7,495

I-12 Total revenuePrior year $1,856,143$781,725

I-13 Grants and similar amounts paidPrior year $0$0

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $0$0

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $1,153,286$460,948

I-18 Total expensesPrior year $1,153,286$460,948

I-19 Revenue less expensesPrior year $702,857$320,777

Part VI · Governance 27 of 27 board members independent, 1 to look at

VI-1a Voting members of the governing body27

VI-1b Independent voting members27

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-13 Written whistleblower policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $781,725 across 11 lines filed

VIII-1c Fundraising events$63,191

VIII-1f All other contributions, gifts and grants$706,707

VIII-1g Noncash contributions (included above)$6,285

VIII-1h Total contributions, gifts and grants$769,898

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $250$250

VIII-3 Investment incomeExcluded from tax $68,402$68,402

VIII-6 Net rental income or lossRelated to mission −$15,748−$15,748

VIII-7 Net gain or loss on sales of assetsExcluded from tax −$49,330−$49,330

VIII-8 Net income from fundraising eventsExcluded from tax $7,819$7,819

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $434$434

VIII-12 Total revenueRelated to mission −$15,064 · Unrelated business $0 · Excluded from tax $26,891$781,725

Part IX · Statement of functional expenses $460,948 across 8 lines filed

IX-11c Accounting feesManagement $16,500$16,500

IX-11f Investment management feesManagement $18,983$18,983

IX-12 Advertising and promotionPrograms $32,769 · Management $5,447$38,216

IX-13 Office expensesManagement $1,623$1,623

IX-22 Depreciation, depletion and amortizationPrograms $6,500 · Management $1,740 · Fundraising $1,500$9,740

IX-23 InsuranceManagement $3,014$3,014

IX-24 Other expenses (24a–d)Programs $184,231 · Management $63,954 · Fundraising $36,890$285,075

IX-24e All other expensesPrograms $76,759 · Management $8,114 · Fundraising $2,924$87,797

IX-25 Total functional expensesPrograms $300,259 · Management $119,375 · Fundraising $41,314$460,948

Part X · Balance sheet $5,996,950 assets, 16 lines filed

X-1 Cash, non-interest-bearingStart of year $200$200

X-2 Savings and temporary cash investmentsStart of year $1,525,790$1,982,199

X-3 Pledges and grants receivableStart of year $67,245$2,191

X-4 Accounts receivableStart of year $4,988$5,860

X-9 Prepaid expenses and deferred chargesStart of year $6,317$7,955

X-10c Land, buildings and equipment, netStart of year $981,566$940,013

X-11 Publicly traded securitiesStart of year $3,557,699$2,996,200

X-15 Other assetsStart of year $0$62,332

X-16 Total assetsStart of year $6,143,805$5,996,950

X-17 Accounts payable and accrued expensesStart of year $15,640$102,232

X-19 Deferred revenueStart of year $835$61,472

X-26 Total liabilitiesStart of year $16,475$163,704

X-27 Net assets without donor restrictionsStart of year $4,748,096$4,191,255

X-28 Net assets with donor restrictionsStart of year $1,379,234$1,641,991

X-32 Total net assets or fund balancesStart of year $6,127,330$5,833,246

X-33 Total liabilities and net assetsStart of year $6,143,805$5,996,950

Part XI · Reconciliation of net assets $5,833,246 net assets at year end

XI-1 Total revenue$781,725

XI-2 Total expenses$460,948

XI-3 Revenue less expenses$320,777

XI-4 Net assets at start of year$6,127,330

XI-5 Net unrealized gains (losses) on investments−$614,861

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$5,833,246

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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Tryon Palace Foundation INC FY2022 filing

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