The Paul and Florence Thomas Memorial Arts School Inc

WEST JEFFERSON, NC EIN: 20-8899047

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 2024. As of 2024, the organization holds $884K in total assets. In 2024, it awarded 1 grants totaling $21K. Net investment income was $30K.

Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$884K

+0.1% YoY

Annual Giving

$21K

-13.0% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$21K

-13.0% YoY

Under IRS private-foundation payout rules, The Paul and Florence Thomas Memorial Arts School Inc reported a distributable amount of $29K for 2024 — the minimum it must pay out in qualifying distributions.

About The Paul and Florence Thomas Memorial Arts School Inc

Based on IRS filings

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

North Carolina $128K (100%)

States

North Carolina

Cities

West Jefferson

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$884,461	$883,314	$870,896
Revenue	$48,183	$54,893	$30,376
Expenses	$47,037	$42,475	$42,060
Qualifying Distributions	$37,606	$27,075	$23,301
Net Investment Income	$29,813	$22,036	$23,343
Distributable Amount	$29,044	$27,733	$29,273

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 1 recipients in 2024

Grant Size Distribution

5 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest include Florence Thomas Art School ($20,695).

Recipient	Purpose	Amount
FLORENCE THOMAS ART SCHOOL WEST JEFFERSON, NC	SUPPORT OPERATION OF SCHOOL	$20,695

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

From 2024 IRS filing

From 2024 filing

Name	Title	Hours	Compensation
KIMBERLY PERZEL	PRESIDENT	2	—
KYLE HALL	SECRETARY	1	—
EVA INGLE	TREASURER	2	—
DOUG MUNROE	Board Member	1	—

Frequently Asked Questions

How large is The Paul and Florence Thomas Memorial Arts School Inc?

As of 2024, The Paul and Florence Thomas Memorial Arts School Inc holds $884K in total assets with $48K in annual revenue. It awarded 1 grants totaling $21K in 2024.

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 size grants does The Paul and Florence Thomas Memorial Arts School Inc award?

In 2024, The Paul and Florence Thomas Memorial Arts School Inc awarded 1 grants totaling $21K — an average of about $21K per grant, based on its IRS Form 990 filings.

How much is The Paul and Florence Thomas Memorial Arts School Inc required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, The Paul and Florence Thomas Memorial Arts School Inc reported a distributable amount of $29K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.

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 2020–2024.