Civic Intelligence

Tryon Palace Foundation Inc

EIN 56-1795949 • 501(c)3 • New Bern, NC

Profile

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.

PO Box 1007New Bern, NC 28563

www.tryonpalacefoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

27th percentile

0.01x

Higher debt load relative to assets than 27% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

22nd percentile

0.03x

Higher debt load relative to revenue than 22% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Source year 2024

Net Margin

90th percentile

67%

Higher net margin than 90% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

30th percentile

$32,640

Higher top officer pay than 30% of similar nonprofits.

Top officer pay equals 1.1% of source-year revenue.

NTEE A • $5M-$10M nonprofits • Source year 2024

Asset Growth

87th percentile

31%

Faster asset growth than 87% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

88th percentile

119%

Faster revenue growth than 88% of similar nonprofits.

NTEE A • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Up

$9,633,044

Up $2,283,572 (+31%) from 2023

Liabilities

Up

$94,221

Up $13,709 (+17%) from 2023

Net Assets

Up

$9,538,823

Up $2,269,863 (+31%) from 2023

Revenue

Up

$3,037,481

Up $1,653,324 (+119%) from 2023

Expenses

Up

$1,003,252

Up $492,379 (+96%) from 2023

Net Income

Up

$2,034,229

Up $1,160,945 (+133%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$10M$5.0M$0Assets 2011: $1,988,048Liabilities 2011: $8,656Net Assets 2011: $1,979,3922011Assets 2012: $2,383,572Liabilities 2012: $2,623Net Assets 2012: $2,380,9492012Assets 2013: $2,408,366Liabilities 2013: $12,085Net Assets 2013: $2,396,2812013Assets 2014: $2,453,689Liabilities 2014: $27,003Net Assets 2014: $2,426,6862014Assets 2016: $3,072,057Liabilities 2016: $40,005Net Assets 2016: $3,032,0522016Assets 2017: $3,486,129Liabilities 2017: $146,852Net Assets 2017: $3,339,2772017Assets 2018: $3,911,883Liabilities 2018: $880Net Assets 2018: $3,911,0032018Assets 2019: $4,394,642Liabilities 2019: $65,417Net Assets 2019: $4,329,2252019Assets 2020: $5,446,655Liabilities 2020: $33,905Net Assets 2020: $5,412,7502020Assets 2021: $6,143,805Liabilities 2021: $16,475Net Assets 2021: $6,127,3302021Assets 2022: $5,996,950Liabilities 2022: $163,704Net Assets 2022: $5,833,2462022Assets 2023: $7,349,472Liabilities 2023: $80,512Net Assets 2023: $7,268,9602023Assets 2024: $9,633,044Liabilities 2024: $94,221Net Assets 2024: $9,538,8232024

Highlighted filing

2024

Assets$9,633,044
Liabilities$94,221
Net Assets$9,538,823

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0Expenses 2011: $1,403,9582011Revenue 2012: $865,669Expenses 2012: $370,773Net Income 2012: $494,8962012Revenue 2013: $353,608Expenses 2013: $338,300Net Income 2013: $15,3082013Revenue 2014: $447,643Expenses 2014: $410,976Net Income 2014: $36,6672014Revenue 2016: $708,313Expenses 2016: $390,002Net Income 2016: $318,3112016Revenue 2017: $756,338Expenses 2017: $563,292Net Income 2017: $193,0462017Revenue 2018: $1,268,550Expenses 2018: $498,023Net Income 2018: $770,5272018Revenue 2019: $955,753Expenses 2019: $738,336Net Income 2019: $217,4172019Revenue 2020: $1,468,918Expenses 2020: $556,902Net Income 2020: $912,0162020Revenue 2021: $1,856,143Expenses 2021: $1,153,286Net Income 2021: $702,8572021Revenue 2022: $781,725Expenses 2022: $460,948Net Income 2022: $320,7772022Revenue 2023: $1,384,157Expenses 2023: $510,873Net Income 2023: $873,2842023Revenue 2024: $3,037,481Expenses 2024: $1,003,252Net Income 2024: $2,034,2292024

Highlighted filing

2024

Revenue$3,037,481
Expenses$1,003,252
Net Income$2,034,229

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 18, 2025
Return Version
2024v5.2
Gross Receipts
$4,255,526
Mission and Program Overview

Mission

Tryon palace foundation, inc. (the "charity") is a supporting organization and is operated exclusively for the benefit of, to perform the functions of, and to carry out the purpose of tryon palace. Tryon palace is owned and operated by the state of north carolina and includes the historic sites and its associated activities. Tryon palace, the restored site of royal governor william tryon, was originally built in 1770 and destroyed by fire in 1798. The palace and grounds were restored by the state of north carolina using state funds as well as funds from a private trust created under the will of maude moore latham. Tryon palace reopened in 1959.tryon palace is open to the general public tuesday through sunday. Special historical, educational, and cultural events are also held at tryon palace throughout the year. The foundation conducts fundraising activities and accepts grants and contributions.

To support the activities and purpose of tryon palace, a historic site owned and operated by the state of north carolina and located in new bern, north carolina.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$3,642,495$4,325,234▲ $682,739
Savings and Temporary Cash Investments$1,888,417$3,493,241▲ $1,604,824
Land, Buildings, and Equipment, Net$1,757,016$1,721,871▼ $35,145
Accounts Receivable$9,417$10,687▲ $1,270
Prepaid Expenses and Deferred Charges$15,299$10,087▼ $5,212
Pledges and Grants Receivable$2,500$0▼ $2,500
Cash and Non-Interest-Bearing Accounts$200$200→ $0
Total Assets$7,349,472$9,633,044▲ $2,283,572
Other Assets Total$34,128$71,724▲ $37,596
Liabilities
Deferred Revenue$32,494$71,724▲ $39,230
Accounts Payable and Accrued Expenses$48,018$22,497▼ $25,521
Total Liabilities$80,512$94,221▲ $13,709
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,577,669$6,238,903▲ $661,234
Net Assets With Donor Restrictions$1,691,291$3,299,920▲ $1,608,629
Total Net Assets Fund Balance$7,268,960$9,538,823▲ $2,269,863
Total Liabilities and Net Assets / Fund Balance$7,349,472$9,633,044▲ $2,283,572

Asset Categories

AssetBook ValueDepreciationBasis
Land$951,740-$951,740
Buildings$657,307$183,615$840,922
Equipment$60,179$61,328$121,507
Other Land Buildings$52,645$28,136$80,781
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Mr Joe AndersonDirector-$32,640$32,640
Ms Chrystal Regan EdSecretary/treasurerPT$20,000$20,000
Revenue and Support

Revenue Composition

Contributions and Grants
$2,692,150
Program Service Revenue
$3,238
Investment Income
$336,095
Other Revenue
$5,998
All Other Contributions
$597,798
Change in Net Assets
$2,034,229

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,118,332
Revenue Not Reported on Financial Statements
$-80,851
Revenue Not Reported on Form 990
$235,634
Other Revenue Adjustments
$-80,851
Total Revenue per Audited Statements
$3,353,966
Total Revenue per Form 990
$3,037,481
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,003,252
Total Fundraising Expense$26,077
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$120,857$9,202$24,577$154,636
Other Expenses$72,020$52,006-$52,006
Fees for Service Investment Mgmnt Fees-$24,250-$24,250
Fees for Services Accounting-$19,500-$19,500
Depreciation Depletion$6,407$8,077$1,500$15,984
Advertising-$3,966-$3,966
Insurance-$3,277-$3,277
Office Expenses-$302-$302
Total Functional Expenses$856,595$120,580$26,077$1,003,252

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,084,103
Expenses per Audited Statements$1,003,252
Total Expenses per Form 990$1,003,252
Expenses Not Reported on Form 990$80,851
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$43,987
Fundraising Direct Expenses$26,095
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Winterfeast$59,524$38,886$7,880$31,006
Candlelight Tavern$3,065$3,065$903$2,162
Total Events$69,189$43,987$26,095$17,892
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Prior to circulation to the governing board and filing the tax return, a draft copy of form 990 is provided to the foundation president and executive director for their review.

Form 990, Part VI, Section B, Line 12C

Annually, board of director members sign a certificate stating they will follow the tryon palace commission code of ethics, which includes a conflict of interest policy.

Form 990, Part VI, Section C, Line 19

Tryon palace foundation makes its documents available upon request.

Filing and Contact Details

Filer

Filer Name
Tryon Palace Foundation Inc
EIN
56-1795949
Phone
2526393611
Address
PO BOX 1007, NEW BERN, NC 28563

Signing Officer

Name
Anne Schout
Title
President
Phone
2526379102
Signed
2025-09-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Anne Schout
Formed
1992
Legal Domicile
Nc
Voting Board Members
24
Independent Board Members
24
Employees
0
Volunteers
357

Preparer

Firm
Dean Dorton Allen Ford Pllc
Address
4130 PARKLAKE AVE STE 400, RALEIGH, NC 27612
Preparer
Linwood Faulconer
Phone
9198792909
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Restoration and preservation: program service expenses 40,603. Management and general expenses 0. Fundraising expenses 0. Total expenses 40,603. Special events: program service expenses 35,321. Management and general expenses 0. Fundraising expenses 0. Total expenses 35,321. Interpretive events: program service expenses 32,817. Management and general expenses 0. Fundraising expenses 0. Total expenses 32,817. Membership recruitment: program service expenses 0. Management and general expenses 0. Fundraising expenses 23,796. Total expenses 23,796. Other program expenses: program service expenses 12,116. Management and general expenses 0. Fundraising expenses 0. Total expenses 12,116. Volunteer expenses: program service expenses 0. Management and general expenses 4,150. Fundraising expenses 0. Total expenses 4,150. Credit card fees: program service expenses 0. Management and general expenses 2,656. Fundraising expenses 0. Total expenses 2,656. Staff appreciation: program service expenses 0. Management and general expenses 1,614. Fundraising expenses 0. Total expenses 1,614. Printing and postage: program service expenses 0. Management and general expenses 782. Fundraising expenses 781. Total expenses 1,563.

Financial Statement Notes

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Fundraising expenses reported in part viii, line 8b -26,095. Rental real estate costs reported in part viii, line 6b -54,756.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Fundraising expenses reported in part viii, line 8b 26,095. Rental real estate costs reported in part viii, line 6b 54,756.

Raw XML AppendixShowing 400 of 641 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0AS 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.
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IRS990/Form990PartVIISectionAGrp/PersonNm18MR JOE ANDERSON
IRS990/Form990PartVIISectionAGrp/PersonNm19MR WILLIAM S CORBITT
IRS990/Form990PartVIISectionAGrp/PersonNm20MR JOHN W KING
IRS990/Form990PartVIISectionAGrp/PersonNm21MR BILL KWASNICK
IRS990/Form990PartVIISectionAGrp/PersonNm22MR DAWN PEELE
IRS990/Form990PartVIISectionAGrp/PersonNm23MS CHRYSTAL REGAN ED
IRS990/Form990PartVIISectionAGrp/PersonNm24MR WILLIAM HOLLOWELL
IRS990/Form990PartVIISectionAGrp/PersonNm25MR DARIN WATERS
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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt3VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt12DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt16DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt17DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt18DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt19DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt20DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt21DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt22DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt23SECRETARY/TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt24DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt25EX-OFFICIO
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IRS990/MissionDesc0THE 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.
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROMOTION 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.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt069159
IRS990/ProgSrvcAccomActy3Grp/Desc0THE 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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IRS990/ProgSrvcAccomActy3Grp/RevenueAmt03238
IRS990/ProgSrvcAccomActyOtherGrp/Desc0PROMOTION OF FREE CONCERTS AND OTHER PROGRAMS THAT PROVIDE ADDITIONAL OPPORTUNITIES TO EXPOSE THE PUBLIC TO THE HISTORICAL AND CULTURAL MISSION OF TRYON PALACE.
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