Tryon Fine Arts Center Inc

Nonprofit profile at a glance

EIN
566086694
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Tryon, NC, USA
Phone
8288598322
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Official website

Reported finances

Revenue
$909,379
Expenses
$924,421
Assets
$8,724,896
Liabilities
$1,512

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • GORDON HAMILTON (VICE PRESIDENT)
  • LINDA HAYNES (PRESIDENT)

People named in this filing

  • MATTHEW ALDRICH (DIRECTOR)
  • MELVIN COX (DIRECTOR)
  • IAN FITCH (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Cultural education and advancement.

What it reported doing in 2024

Tryon fine arts center provides and fosters cultural activities in the community. Events are sponsored and programs are provided to tryon, nc and the surrounding communities.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 98% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 57
  • Transparency & Controls: 86
  • Accountability: 88
  • Sustainability: 61
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.2%; rating input score 64
  • Program expense ratio: 50.4%; rating input score 50
  • Fundraising efficiency: $12.04 raised per $1 spent on fundraising; rating input score 44; 44th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1.7%; rating input score 31; 31st percentile among comparable filings
  • Total-asset coverage ratio: 9.44; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 82; 82nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -1.2% per year; rating input score 0; 14th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 28th percentile among comparable filings
  • Asset growth: 5.4% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 64.2% of revenue deployed · 50.4% of spending went to programs
  • Governance: 15 of 15 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $466K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 50/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 44/100.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 31/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.