The David Belk Cannon Foundation
The David Belk Cannon Foundation is a private foundation established in 2002 and based in Gastonia, North Carolina. As a 501(c)(3) organization, it operates as a supporting organization of the Community Foundation of Gaston County, making charitable distributions to support various philanthropic initiatives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$132.5M
+5.0% YoY
Annual Giving
$6.2M
+10.2% YoY
Grant Count
40
-11.1% YoY
Avg Grant Size
$154K
+23.9% YoY
Mission & Focus Areas
The foundation's primary purpose is to make charitable distributions and provide support to the Community Foundation of Gaston County. Based on recent grantmaking activity, the foundation supports a diverse range of initiatives including:
- Education
- Human Services
- Religious and church ministries
- Healthcare initiatives (including vascular hybrid operating room support)
- Capital projects and renovations
- Scholarships
- Community development
Grantmaking
The foundation provides support for operating support, general support, capital projects, renovations, and scholarships. The foundation makes contributions to preselected charitable organizations and does not appear to accept unsolicited applications.
Grant Range
$2,000 to $1,100,000
Average Grant
$141,000
Grant Types
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Geographic Focus
Where this funder awards grants
The foundation supports initiatives across multiple states, with primary focus areas including:
- North Carolina
- South Carolina
- Virginia
- Georgia
- Kentucky
- Massachusetts
- New York
- Washington, D.C.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2024):
- Total assets: $132,530,612
- Total revenue: $8,374,309
- Total expenses: $10,050,872
- Total liabilities: $6,370,000
Historical Giving Trends: Annual giving has fluctuated, with reports indicating a decrease from $16 million in 2022 to $5.6 million in 2023, with 2024 giving at $6,156,099.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $132,530,612 | $126,273,476 | $117,648,711 |
| Revenue | $8,374,309 | $3,591,682 | $1,285,700 |
| Expenses | $10,050,872 | $4,148,207 | $5,306,364 |
| Qualifying Distributions | $6,499,919 | $5,929,434 | $4,521,403 |
| Net Investment Income | $7,893,118 | $3,109,762 | $916,583 |
| Distributable Amount | $6,235,454 | $5,930,452 | $6,331,687 |
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 2024
Grant Size Distribution
200 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Eugene R Matthews II - Chair and CEO (compensation: $146,000 annually)
- Tamara Burrell - Executive Director
- The foundation is governed by 6 officers and trustees
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Annabelle Kelly | Asst Secretary | 0.5 | $13,000 |
| Eugene R Matthews II | Chair & CEO | 32 | $148,000 |
| Ben F Matthews III | Vice Chairman | 4 | $22,000 |
| Mary M Vaughn | Secretary | 0.5 | $13,000 |
| Dr Richard E Rankin Jr | Director | 4 | $23,000 |
| Tamara Burrell | Executive Dir. | 32 | $128,598 |
Contact Information
- Address: 208 Burtonwood Drive, Gastonia, NC 28054
- Phone: 704-616-4817
Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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