The Paul and Florence Thomas Memorial Arts School Inc
The Paul and Florence Thomas Memorial Arts School Inc is a private foundation, based in West Jefferson, NC. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $959K in total assets. In 2025, it awarded 1 grant totaling $17K. Net investment income was $53K.
The Paul and Florence Thomas Memorial Arts School Inc at a glance
In short: The Paul and Florence Thomas Memorial Arts School Inc gave $17K across 1 grant in 2025 (avg $17K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $17,000
- -17.9% vs 2024
- Grants made (2025)
- 1
- +0.0% vs 2024
- Average grant
- $17,000
- -17.9% vs 2024
- Median grant
- $17,000
- Total assets
- $959,488
- +8.5% vs 2024
- Primary geography
- North Carolina (100% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated September 2026.
Who The Paul and Florence Thomas Memorial Arts School Inc funds
How this funder distributes its grants
Top Recipients
Top recipient in 2025
The largest 2025 recipient was Florence Thomas Art School ($17K).
Grant Size Distribution
5 grants across all recorded years
The most common grant size was under $50K: 5 grants of 5 (100%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of the 2025 grant dollars on its one itemized grant.
States
Cities
How The Paul and Florence Thomas Memorial Arts School Inc gives
- Giving held roughly steady from 2022 to 2025 (−16%). Method
- In 2025 it paid out 67% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
From the foundation's IRS Form 990-PF filings. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $15K (2021) to $48K (2020). In 2025 it made 1 grant totaling $17K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Florence Thomas Art School West Jefferson, NC | Support Operations of School | $17,000 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2025 | $959,488 | $112,062 | $37,035 | $17,000 | 1 | $20,030 | $52,566 | $29,887 |
| 2024 | $884,461 | $48,183 | $47,037 | $20,695 | 1 | $37,606 | $29,813 | $29,044 |
| 2023 | $883,314 | $54,893 | $42,475 | $23,794 | 1 | $27,075 | $22,036 | $27,733 |
| 2022 | $870,896 | $30,376 | $42,060 | $20,340 | 1 | $23,301 | $23,343 | $29,273 |
| 2021 | $1,007,672 | $77,871 | $40,885 | $15,084 | 1 | $19,281 | $47,450 | $32,199 |
| 2020 | $970,686 | $68,489 | $63,598 | $48,323 | 1 | — | $15,195 | $29,020 |
Under IRS private-foundation payout rules, The Paul and Florence Thomas Memorial Arts School Inc reported a distributable amount of $30K for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
The Paul and Florence Thomas Memorial Arts School Inc is led by Doug Munroe, President since 2025 (on filings since 2022); none of the 3 officers listed in 2025 report compensation.
Officers on the 2025 filing
Doug Munroe
President
Treasurer → Board Member, 2024
Board Member → President, 2025
On filings since 2022
1 hr/week
No compensation reported
Eva Ingle
Treasurer
On filings since 2020
2 hrs/week
No compensation reported
Kimberly Perzel
Secretary
Board Member → President, 2022
President → Secretary, 2025
On filings since 2021
2 hrs/week
No compensation reported
Former officers (6)
- Former: Kyle Hall (2020–2024) — Secretary
- Former: Jack Apple (2022–2023) — Board Member
- Former: Tom Efford (2020–2022) — Board Member
- Former: John Cannon Jr. (2020–2021) — President
- Former: Alan Briggs (2020) — Secretary
- Former: Allen Mathis (2020) — Board Member
Data from IRS Form 990 filings, 2020–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about The Paul and Florence Thomas Memorial Arts School Inc
How much does The Paul and Florence Thomas Memorial Arts School Inc give each year?
The Paul and Florence Thomas Memorial Arts School Inc gave $17K across 1 grant in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $21K across 1 grant.
How large is The Paul and Florence Thomas Memorial Arts School Inc?
The Paul and Florence Thomas Memorial Arts School Inc reported $959K in total assets on its 2025 IRS Form 990-PF. It paid out $20K in qualifying distributions that year, against a required minimum of $30K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
Where does The Paul and Florence Thomas Memorial Arts School Inc operate?
The Paul and Florence Thomas Memorial Arts School Inc has awarded grants in North Carolina.
What is The Paul and Florence Thomas Memorial Arts School Inc's EIN?
The Paul and Florence Thomas Memorial Arts School Inc's EIN (Employer Identification Number) is 20-8899047. IRS Form 990 filing data is available on this page for 2020–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(6)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS July 13, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 15, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 15, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 20, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 12, 2026)
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