The Cannon Foundation Inc
The Cannon Foundation Inc. is a private foundation based in Concord, North Carolina. Established in 1943 by Charles A. Cannon, it funds capital and equipment projects for organizations in North Carolina, with stated areas of focus in human services, higher education, healthcare, and community.
The Cannon Foundation Inc at a glance
In short: The Cannon Foundation Inc gave $14.6M across 218 grants in 2025 (avg $67K), mostly in North Carolina. 48% of 2025 grantees were new. Source: 2025 IRS Form 990-PF.
- Annual giving (2025)
- $14,576,978
- +14.6% vs 2024
- Grants made (2025)
- 218
- +19.8% vs 2024
- Average grant
- $66,867
- -4.3% vs 2024
- Median grant
- $50,000
- Total assets
- $351,719,598
- +6.8% vs 2024
- New grantees (estimate)
- 48% first-time grantees (97 of 203, 2025)
- Primary geography
- North Carolina (97% of itemized 2025 grant dollars)
- Latest 990 filing
- Form 990-PF, 2025 View filing
Data from IRS Form 990-PF, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology).
How to apply to The Cannon Foundation Inc
- How to Apply
-
Start with the inquiry form on the foundation’s application page. The foundation’s 2024 filing directs applicants to that page for the form, materials, deadlines, and award restrictions.
- Review Cycle
- The application page lists quarterly deadlines in March, June, September, and December. The September 2026 cycle has passed; the page lists December as the next cycle but does not give a specific date.
- Deadline
- The application page lists quarterly deadlines in March, June, September, and December.
- Contact
Application contact: Suzanne Philemon Executive Director
Mailing address: PO Box 548, Concord, NC 28026
Phone: (704) 786-8216
Website: https://cannonfoundation.org
Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Open Grants
1 open opportunity from The Cannon Foundation Inc
Who The Cannon Foundation Inc funds
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Cabarrus Cooperative Christian Ministry Inc ($540K across 6 grants). Together the top 10 received $2.9M.
Grant Size Distribution
979 grants across all recorded years
The most common grant size was under $50K: 453 grants of 979 (46%).
Geographic Focus
Where this funder awards grants
The foundation’s website says it funds organizations across North Carolina. In 2025, 97% of grant dollars went to recipients in North Carolina; the reported shares for South Carolina, Virginia, and Alabama were 1% each, with Missouri reported at 0%.
Grant Distribution by State
Share of 2025 grant dollars across all 218 itemized grants.
States
Cities
Is The Cannon Foundation Inc open to new grantees?
48%
first-time grantees, 2025
In 2025, 97 of 203 grantees (48%) were first-time recipients. First grants averaged $68K; repeat grants $75K. How we count
Medians: $50K first-time, $50K repeat.
- 14% of 2025 grantees were also funded in 2024. Method
- Giving grew 29% from 2022 to 2025. Method
- In 2025 it paid out 99% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2025, annual grant giving ranged from $11.3M (2022) to $14.6M (2025). In 2025 it made 218 grants totaling $14.6M.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Cabarrus Cooperative Christian Ministry Inc Concord, NC | To support the charitable mission of the recipient organization | $500,000 |
| Rowan-Cabarrus Young Men's Christian Association Salisbury, NC | New Harrisburg YMCA, Kannapolis Branch Aquatics Center Renovation | $400,000 |
| Boys and Girls Club of the Tar River Region Inc Rocky Mount, NC | Project Dream | $350,000 |
| Public Health Authority of Cabarrus County Concord, NC | Kannapolis Dental Expansion | $300,000 |
| Center for Domestic Peace Sylva, NC | To support the charitable mission of the recipient organization | $250,000 |
| Carolina Seniorcare Lexington, NC | Accessibility to Healthcare for Low-Income Seniors | $212,433 |
| Young Mens Christian Association Blue Ridge Assembly Black Mountain, NC | Phase One - Cabin Village Construction | $200,000 |
| Atrium Health Foundation Charlotte, NC | To support the charitable mission of the recipient organization | $166,667 |
| First Presbyterian Church Washington, NC | The Parvin Project | $150,000 |
| Franklin Vance Warren Opportunity Inc Henderson, NC | To support the charitable mission of the recipient organization | $150,000 |
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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 | $351,719,598 | $24,800,113 | $16,429,893 | $14,576,978 | 218 | $15,777,951 | $23,497,601 | $16,005,968 |
| 2024 | $329,446,542 | $20,438,264 | $17,771,070 | $12,718,633 | 182 | $13,774,600 | $19,258,348 | $14,749,801 |
| 2023 | $273,257,280 | $9,085,868 | $13,683,228 | $11,483,245 | 189 | $12,495,026 | $8,000,177 | $13,464,272 |
| 2022 | $249,155,088 | $24,030,751 | $14,010,598 | $11,300,100 | 186 | $12,177,885 | $22,922,854 | $13,913,346 |
| 2021 | $297,494,035 | $30,471,430 | $14,379,706 | $11,940,996 | 204 | — | $29,400,770 | $13,520,966 |
| 2020 | $241,931,391 | $8,690,372 | $14,090,794 | $12,033,569 | 174 | — | $7,788,403 | $11,690,279 |
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.
Research compiled by Grantable AI from public sources. Last updated October 2026.
Mission & Focus Areas
The foundation’s website describes Charles A. Cannon’s belief in free enterprise and giving back, and identifies human services, higher education, healthcare, and community as its areas of focus. The foundation funds capital and equipment projects.
Its 2025 grants illustrate the range of supported projects, including a dental expansion, an aquatics-center renovation, cabin-village construction, and independent-living housing. Among the grantees, Cabarrus Cooperative Christian Ministry says it assists local residents facing food, shelter, or financial crises; Center for Domestic Peace says it works to end interpersonal violence through prevention, intervention, and education; and Atrium Health Foundation says it supports Atrium Health’s work to improve health, elevate hope, and advance healing.
Grantmaking
In 2025, the foundation reported 218 grants totaling $14,576,978. Grant amounts ranged from $2,500 to $500,000, with a median of $50,000. The largest awards included $500,000 to Cabarrus Cooperative Christian Ministry, $400,000 to Rowan-Cabarrus Young Men’s Christian Association for an aquatics-center renovation, $350,000 to Boys and Girls Club of the Tar River Region for Project Dream, and $300,000 to Public Health Authority of Cabarrus County for a dental expansion.
The foundation’s application page describes quarterly grant cycles, with deadlines in March, June, September, and December. Applicants begin with an inquiry form; the foundation advises starting at least 90 days before a deadline. After reviewing an inquiry, a program officer may schedule a call to discuss the project, its timeline, other funding sources, and expected outcomes. An application is provided if the project proceeds to that stage. Decisions are generally made about three to six months after the application deadline.
Eligibility requirements listed on the application page include five years of operating history, significant operations in North Carolina, and a capital or infrastructure project. An organization is eligible for consideration every other year once any prior grants are fully completed, and projects must be completed within 12–18 months of grant funding. Required materials include the online application, a project budget with quotes or estimates, and a current annual operating budget. If a grant is awarded, the organization must sign a contract before funds are released and submit a final report after project completion.
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists William C. Cannon Jr. as director and president; Edward K. Prewitt Jr. as director and vice president; William M. Connolly as director and treasurer; and George W. Liles Jr. as director and secretary. Other directors listed were Eugene W. Cochrane Jr., Winslow H. Galloway, Janet Ward Black, Elizabeth L. Quick, and Brittian L. Leatherman. Dan L. Gray was listed as director emeritus, non-voting.
The foundation’s staff page identifies Suzanne Philemon as executive director, Candice Kane as associate director, and Kara King as program officer.
The Cannon Foundation Inc is led by William C. Cannon Jr., Director & President on every filing since 2020; 10 of 13 officers listed in 2025 are compensated.
Officers on the 2025 filing
William C. Cannon Jr.
Director & President
On filings since 2020
20 hrs/week
$15K (2020) → $30K (2025)
Suzanne Philemon
Executive Director
On filings since 2023
40 hrs/week
$189K (2023) → $260K (2025)
Edward K. Prewitt Jr.
Director & Vice President
Director & Treasurer → Director & Vice President, 2022
On filings since 2020
5 hrs/week
$15K (2020) → $30K (2025)
Elizabeth L. Quick
Director
On filings since 2020
2 hrs/week
$15K (2021) → $23K (2025)
Eugene W. Cochrane Jr.
Director
Director & Interim Executive Director From → Director & Interim Executive Director, 2022
Director & Interim Executive Director → Director, 2023
On filings since 2020
12 hrs/week
$63K (2020) → $30K (2025)
George W. Liles Jr.
Director & Secretary
Director → Director & Secretary, 2022
On filings since 2020
2 hrs/week
$15K (2020) → $30K (2025)
William M. Connolly
Director & Treasurer
Director & Secretary → Director & Treasurer, 2022
On filings since 2020
5 hrs/week
$15K (2020) → $30K (2025)
Winslow H. Galloway
Director
On filings since 2020
2 hrs/week
$15K (2020) → $30K (2025)
Janet Ward Black
Director
On filings since 2022
2 hrs/week
$15K (2022) → $30K (2025)
Brittian L. Leatherman
Director
On filings since 2023
2 hrs/week
$15K (2023) → $30K (2025)
Dan L. Gray
Director Emeritus
On filings since 2020
1 hr/week
$1K (2020) → $0 (2025)
Thomas M. Grady
Director Emeritus
Director & Vice President → Director Emeritus, 2022
On filings since 2020
1 hr/week
$15K (2020) → $0 (2025)
William S. Fisher
Director Emeritus
On filings since 2020
1 hr/week
No compensation reported
Former officers (5)
- Former: Britt Leatherman (2022) — Director
- Former: Kathryn S. Philemon (2022) — Executive Director
- Former: Meera T. Markanda (2022) — Former Executive Director
- Former: M. Tina Markanda (2020–2021) — Executive Director
- Former: Robert C. Hayes (2020) — Director & Vice President
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 $260K, to Suzanne Philemon (Executive Director). 10 officers or directors reported compensation on that filing.
Frequently asked questions about The Cannon Foundation Inc
How much does The Cannon Foundation Inc give each year?
The Cannon Foundation Inc gave $14.6M across 218 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $12.7M across 182 grants.
What is The Cannon Foundation Inc's typical grant size?
The Cannon Foundation Inc's median grant in 2025 was $50,000, and its average grant was $66,867, across 218 grants on its 2025 IRS Form 990-PF. Organizations receiving their first grant from The Cannon Foundation Inc that year got $68K on average.
Where does The Cannon Foundation Inc give grants?
The Cannon Foundation Inc gives mostly in North Carolina: 97% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The most frequent recipient cities were Concord, NC (20 grants), Charlotte, NC (16 grants), Asheville, NC (14 grants) and Winston-Salem, NC (12 grants).
Does The Cannon Foundation Inc give general operating support?
Occasionally: 9% of The Cannon Foundation Inc's 2025 grants with a stated purpose (19 of 218) were for general or operating support, per its 2025 IRS Form 990-PF. Recurring purposes include "Hurricane Helene Disaster Relief" (15 grants).
Who are The Cannon Foundation Inc's largest grantees?
The Cannon Foundation Inc's largest 2025 grantees include Cabarrus Cooperative Christian Ministry Inc ($540,000 across 6 grants), Rowan-Cabarrus Young Men's Christian Association ($415,000 across 2 grants) and Boys and Girls Club of the Tar River Region Inc ($350,000), according to its 2025 IRS Form 990-PF. Together they received 9% of its itemized 2025 grant dollars.
How large is The Cannon Foundation Inc?
The Cannon Foundation Inc reported $351.7M in total assets on its 2025 IRS Form 990-PF. It paid out $15.8M in qualifying distributions that year, against a required minimum of $16.0M (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.
What does The Cannon Foundation Inc fund?
The foundation’s website describes Charles A. Cannon’s belief in free enterprise and giving back, and identifies human services, higher education, healthcare, and community as its areas of focus. The foundation funds capital and equipment projects. See mission & focus areas ↑
How do I apply for a grant from The Cannon Foundation Inc?
Start with the inquiry form on the foundation’s application page. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
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.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated October 2026.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2025
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Cite this profile
Grantable. (2026). The Cannon Foundation Inc funder profile. GrantGraph. Retrieved October 10, 2026, from https://grantable.co/funders/the-cannon-foundation-inc-morg_cb60610aa1164e63a78fbbf3d8bb26f7
BibTeX
@misc{grantable_566042532_2026,
author = {{Grantable}},
title = {{The Cannon Foundation Inc funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/the-cannon-foundation-inc-morg_cb60610aa1164e63a78fbbf3d8bb26f7},
note = {Accessed 2026-10-10. Data licensed CC BY 4.0}
}The figures on this page are open data under CC BY 4.0: reuse them with credit to Grantable and a link. Download the data.
Figures come from The Cannon Foundation Inc's IRS filings (methodology). AI-written summaries, news items and logos are not covered by the open licence. Spot an error? Email hello@grantable.co.
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