The Cannon Foundation Inc
The Cannon Foundation Inc. is a private foundation established in 1943 by Charles A. Cannon, former President and CEO of Cannon Mills Company. Based in Concord, North Carolina, the Foundation continues Cannon's philanthropic legacy by funding capital and equipment projects for organizations across North Carolina. The Foundation has been tax-exempt since January 1948.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$351.7M
+6.8% YoY
Annual Giving
$14.6M
+14.6% YoY
Grant Count
218
+19.8% YoY
Avg Grant Size
$67K
-4.3% YoY
Under IRS private-foundation payout rules, The Cannon Foundation Inc reported a distributable amount of $16.0M for 2025 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The Cannon Foundation was founded on Charles A. Cannon's belief in free enterprise and the importance of giving back to the community. The Foundation's mission centers on supporting organizations that benefit employees, co-workers, peers, the local community, and the nation at large.
Primary Focus Areas:
- Human Services
- Higher Education
- Healthcare
- Community Development
The Foundation funds exclusively capital and equipment projects, including building construction, renovations, infrastructure repairs (such as HVAC and roofs), and equipment purchases. These projects must be essential to service delivery in the Foundation's focus areas.
Grantmaking
The Foundation operates a quarterly application cycle with a two-stage process:
Grant Range
$15,000–$150,000
How to Apply
**
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Geographic Focus
Where this funder awards grants
The Foundation funds organizations across all 100 North Carolina counties, with emphasis on underserved and rural areas. The Foundation also maintains designated beneficiaries in Alamance, Cabarrus, Rowan, and Stanly counties in North Carolina, as well as Pickens and York counties in South Carolina through the Charles A. Cannon Charitable Trusts.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of Fiscal Year Ending September 2025:
- Total Assets: $351,719,598
- Total Revenue: $24,800,113
- Total Expenses: $16,429,893
- Net Income: $8,370,220
- Net Assets: $348,826,577
Revenue Composition (FY 2025):
- Dividends: $5,648,086
- Sales of Assets: $19,152,027
Expense Breakdown (FY 2025):
- Charitable Disbursements: $15,777,951 (96.0% of total expenses)
- Compensation of Officers: $522,500 (3.2% of total expenses)
As of Fiscal Year Ending September 2024:
- Total Assets: $329,446,542
- Total Revenue: $20,438,264
- Total Expenses: $17,771,070
The Foundation's assets have grown significantly from $154.3 million in 2010 to over $351 million in 2025.
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $351,719,598 | $329,446,542 | $273,257,280 |
| Revenue | $24,800,113 | $20,438,264 | $9,085,868 |
| Expenses | $16,429,893 | $17,771,070 | $13,683,228 |
| Qualifying Distributions | $15,777,951 | $13,774,600 | $12,495,026 |
| Net Investment Income | $23,497,601 | $19,258,348 | $8,000,177 |
| Distributable Amount | $16,005,968 | $14,749,801 | $13,464,272 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
Grant Size Distribution
250 grants across all recorded years
Open Grants
1 open opportunity from The Cannon Foundation Inc
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest include Cabarrus Cooperative Christian Ministry Inc ($500,000), Boys and Girls Club of the Tar River Region Inc ($350,000), Center for Domestic Peace ($250,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ACCESS DENTAL CARE ASHEBORO, NC | EXPANSION PROJECT | $100,000 |
| ALL SOULS COUNSELING CENTER ASHEVILLE, NC | HURRICANE HELENE DISASTER RELIEF | $25,000 |
| AMERICAN NATIONAL RED CROSS CONCORD, NC | HURRICANE HELENE DISASTER RELIEF | $50,000 |
| ANSON COUNTY ARTS COUNCIL INC WADESBORO, NC | DRAKE GALLERY RESTORATION | $55,000 |
| APPALACHIAN COMMUNITY CAPITAL DEVELOPMENT FOUNDATION CHRISITANSBURG, VA | RURAL INVESTMENT COLLABORATIVE | $50,000 |
| APPALACHIAN MOUNTAIN COMMUNITY HEALTH CENTERS ASHEVILLE, NC | EXPANDING APPALACHIAN MOUNTAIN HEALTH BEHAVIORAL HEALTH ACCESS AND AFFORDABILITY IN CHEROKEE COUNTY, NC | $45,000 |
| ASHEVILLE AREA HABITAT FOR HUMANITY ASHEVILLE, NC | HURRICANE HELENE DISASTER RELIEF | $80,000 |
| ASHEVILLE ART MUSEUM ASSOCIATION INC ASHEVILLE, NC | ASHEVILLE ART MUSEUMS ART TRANSPORTATION VAN PROJECT | $25,000 |
| ASHEVILLE-BUNCOMBE COMMUNITY CHRISTIAN MINISTRY INC ARDEN, NC | GENERAL CHARITABLE PURPOSES | $5,000 |
| ASSOCIATION FOR THE PRESERVATION OF THE ENO RIVER VALLEY INC DURHAM, NC | CREATION OF WILDLIFE HABITAT AT THE CONFLUENCE NATURAL AREA | $20,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Board and Key Officers:
- William C Cannon Jr. – Director/President
- Edward K Prewitt Jr. – Director/Vice President
- William M Connolly – Director/Treasurer
- George W Liles Jr. – Director/Secretary
- Eugene W Cochrane Jr. – Director
- Winslow H Galloway – Director
- Janet Ward Black – Director
- Elizabeth L Quick – Director
- Brittian L Leatherman – Director
- Dan L Gray – Director
Program Staff:
- Sarah Walsh – Program Officer
The Foundation is governed by 13 officers and trustees and maintains a small staff of approximately 2 employees.
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| WILLIAM C CANNON JR | DIRECTOR/PRESIDENT | 20 | $30,000 |
| EDWARD K PREWITT JR | DIRECTOR/VICE PRESIDENT | 5 | $30,000 |
| WILLIAM M CONNOLLY | DIRECTOR/TREASURER | 5 | $30,000 |
| GEORGE W LILES JR | DIRECTOR/SECRETARY | 2 | $30,000 |
| EUGENE W COCHRANE JR | DIRECTOR | 12 | $30,000 |
| WINSLOW H GALLOWAY | DIRECTOR | 2 | $30,000 |
| JANET WARD BLACK | DIRECTOR | 2 | $30,000 |
| ELIZABETH L QUICK | DIRECTOR | 2 | $22,500 |
| BRITTIAN L LEATHERMAN | DIRECTOR | 2 | $30,000 |
| DAN L GRAY | DIRECTOR EMERITUS (NON-VOTING) | 1 | — |
| WILLIAM S FISHER | DIRECTOR EMERITUS (NON-VOTING) | 1 | — |
| THOMAS M GRADY | DIRECTOR EMERITUS (NON-VOTING) | 1 | — |
| SUZANNE PHILEMON | EXECUTIVE DIRECTOR | 40 | $260,000 |
Recent News & Activity
Recent developments and announcements
The Foundation continues active grantmaking across North Carolina. Recent grant recipients include:
WHQR receives more than $20,000 grant from The Cannon Foundation - WWAYTV3WHQR (public radio station) – Grant exceeding $20,000
WHQR receives more than $20,000 grant from The Cannon Foundation - WWAYTV3Gardner-Webb University – $150,000 grant
Gardner-Webb Receives 150K From The Cannon Foundation | Gardner-Webb UniversityPardee Foundation – $100,000 for Cancer Center
Pardee foundation receives $100,000 for Cancer CenterRichmond County organizations – $104,000 grant for community restoration initiatives
Cannon Foundation helps restore hope with a $104K donation | Richmond County Daily JournalThe Foundation maintains an open application process and is described as "possibly open to applications" with recent grant activity documented in current tax filings.
WHQR receives more than $20,000 grant from The Cannon Foundation - WWAYTV3Frequently Asked Questions
What does The Cannon Foundation Inc fund?
The Cannon Foundation was founded on Charles A. Cannon's belief in free enterprise and the importance of giving back to the community. The Foundation's mission centers on supporting organizations that benefit employees, co-workers, peers, the local community, and the nation at large. **Primary Focus Areas:** • Human Services • Higher Education • Healthcare • Community Development The Foundation funds exclusively capital and equipment projects, including building construction, renovations, infra…
How do I apply for a grant from The Cannon Foundation Inc?
**Grant Activity:** • Typical grant range: $15,000–$150,000 • Grants over $200,000 are occasionally awarded • Median grant size: $50,000 • Recent annual grant activity: 174–218 grants distributed annually • Total annual giving: approximately $12.7–$15.8 million **Application Process:** The Foundation operates a quarterly application cycle with a two-stage process: 1. Initial inquiry form submission 2. Program officer consultation before full application submission Foundation staff are described…
Where does The Cannon Foundation Inc make grants?
The Foundation funds organizations across all 100 North Carolina counties, with emphasis on underserved and rural areas. The Foundation also maintains designated beneficiaries in Alamance, Cabarrus, Rowan, and Stanly counties in North Carolina, as well as Pickens and York counties in South Carolina through the Charles A. Cannon Charitable Trusts.
What size grants does The Cannon Foundation Inc award?
In 2025, The Cannon Foundation Inc awarded 218 grants totaling $14.6M — an average of about $67K per grant, based on its IRS Form 990 filings.
How much is The Cannon Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2025, The Cannon Foundation Inc reported a distributable amount of $16.0M on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Cannon Foundation Inc's EIN?
The Cannon Foundation Inc's EIN (Employer Identification Number) is 56-6042532. IRS Form 990 filing data is available on this page for 2020–2025.
Explore Open Grants
Browse active grant opportunities in The Cannon Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated June 2026.
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