Charles a Cannon Charitable Trust No 3
Charles a Cannon Charitable Trust No 3 is a private foundation, based in Concord, NC. IRS filing data is available from 2020 through 2025. As of 2025, the organization holds $31.6M in total assets. In 2025, it awarded 4 grants totaling $1.7M. Net investment income was $2.4M.
Charles a Cannon Charitable Trust No 3 at a glance
In short: Charles a Cannon Charitable Trust No 3 gave $1.7M across 4 grants in 2025 (avg $433K), mostly in North Carolina. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $1,732,776
- +57.3% vs 2024
- Grants made (2025)
- 4
- -20.0% vs 2024
- Average grant
- $433,194
- +96.7% vs 2024
- Median grant
- $445,333
- Total assets
- $31,551,754
- +6.0% 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 Charles a Cannon Charitable Trust No 3 funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2025
The largest 2025 recipient was Duke University ($593K). Together the top 4 received $1.7M.
Grant Size Distribution
24 grants across all recorded years
The most common grant size was in the $100–250K range: 11 grants of 24 (46%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2025 grant dollars across all 4 itemized grants.
States
Cities
How Charles a Cannon Charitable Trust No 3 gives
- Giving grew 47% from 2022 to 2025. Method
- In 2025 it paid out 128% of its IRS minimum distribution (the 5% rule). 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 $935K (2021) to $1.7M (2025). In 2025 it made 4 grants totaling $1.7M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Duke University Durham, NC | Required 40% Distribution | $593,111 |
| Lees-McRae College Banner Elk, NC | Renovation and Critical Maintenance Priority | $540,665 |
| Queens University of Charlotte Charlotte, NC | Mariam Cannon Hayes Educational Endowment | $350,000 |
| Davidson College Davidson, NC | Summer Research Community/High Impact Experiences | $249,000 |
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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 | $31,551,754 | $2,507,300 | $1,750,807 | $1,732,776 | 4 | $1,852,336 | $2,390,629 | $1,448,866 |
| 2024 | $29,760,312 | $1,778,798 | $1,575,244 | $1,101,422 | 5 | $1,215,612 | $1,669,166 | $1,408,481 |
| 2023 | $26,841,211 | $1,845,383 | $1,394,057 | $1,129,785 | 5 | $1,237,148 | $1,746,517 | $1,210,096 |
| 2022 | $22,987,830 | $1,199,797 | $1,372,609 | $1,181,650 | 5 | $1,275,361 | $1,131,722 | $1,222,185 |
| 2021 | $28,730,954 | $522,849 | $1,134,370 | $935,480 | 5 | $1,068,961 | $463,056 | $1,315,131 |
| 2020 | $11,245,815 | $429,551 | $1,158,652 | $955,594 | 5 | — | $333,261 | $1,058,387 |
Under IRS private-foundation payout rules, Charles a Cannon Charitable Trust No 3 reported a distributable amount of $1.4M for 2025 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Charles a Cannon Charitable Trust No 3 is led by William C. Cannon Jr., Trustee & President since 2021 (on filings since 2020); all 5 officers listed in 2025 are compensated.
Officers on the 2025 filing
William C. Cannon Jr.
Trustee & President
Co-Trustee → Trustee & President, 2021
On filings since 2020
3 hrs/week
$13K (2020) → $22K (2025)
Edwin S. Outen
Trustee & Vice President
Co-Trustee → Trustee & Vice President, 2021
On filings since 2020
3 hrs/week
$13K (2020) → $19K (2025)
Joseph C. Hunter
Trustee & Secretary
Co-Trustee → Trustee & Secretary, 2021
On filings since 2020
3 hrs/week
$13K (2020) → $19K (2025)
Britt Leatherman
Trustee
On filings since 2022
1 hr/week
$15K (2023) → $19K (2025)
Pinnacle Financial Partners
Trustee
On filings since 2023
1 hr/week
$15K (2023) → $15K (2025)
Former officers (4)
- Former: Pinnacle Bank (2022) — Trustee
- Former: Wells Fargo (2021) — Trustee
- Former: Robert C. Hayes (2020) — Co-Trustee
- Former: Wells Fargo Bank NA (2020) — Co-Trustee
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.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $22K, to William C Cannon Jr (Trustee, President). 5 officers or directors reported compensation on that filing.
Frequently asked questions about Charles a Cannon Charitable Trust No 3
How much does Charles a Cannon Charitable Trust No 3 give each year?
Charles a Cannon Charitable Trust No 3 gave $1.7M across 4 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $1.1M across 5 grants.
What is Charles a Cannon Charitable Trust No 3's typical grant size?
Charles a Cannon Charitable Trust No 3's median grant in 2025 was $445,333, and its average grant was $433,194, across 4 grants on its 2025 IRS Form 990-PF.
Where does Charles a Cannon Charitable Trust No 3 give grants?
Charles a Cannon Charitable Trust No 3 gives mostly in North Carolina: 100% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there.
Does Charles a Cannon Charitable Trust No 3 give general operating support?
Not in 2025: none of the 4 grants with a stated purpose on Charles a Cannon Charitable Trust No 3's 2025 IRS Form 990-PF were described as general or operating support.
How large is Charles a Cannon Charitable Trust No 3?
Charles a Cannon Charitable Trust No 3 reported $31.6M in total assets on its 2025 IRS Form 990-PF. It paid out $1.9M in qualifying distributions that year, against a required minimum of $1.4M (roughly 5% of its investment assets).
What is Charles a Cannon Charitable Trust No 3's EIN?
Charles a Cannon Charitable Trust No 3's EIN (Employer Identification Number) is 58-1360259. 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
(7)
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2020 (received by the IRS April 22, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS September 13, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 10, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS April 23, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS June 1, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS February 4, 2026)
- IRS filings on file for fiscal years 2020–2025
Explore Open Grants
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