Verna O Canova Foundation
The Verna O Canova Foundation is a private foundation established on October 31, 2013, pursuant to the terms of the Verna O Canova Trust. Based in Marine on St. Croix, Minnesota, the foundation operates as a 501(c)(3) nonprofit organization with no employees. The foundation was granted tax-exempt status in June 2014.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$4.4M
+0.5% YoY
Annual Giving
$267K
-24.6% YoY
Grant Count
26
-3.7% YoY
Avg Grant Size
$10K
-21.7% YoY
Mission & Focus Areas
The foundation's mission is to foster projects in health, education, human services, and community affairs. The foundation provides grants to tax-exempt public charities to support these priority areas, with a particular emphasis on capital projects and operating expenses.
Grantmaking
The foundation makes grants annually based on the relative merit and need of applicants as determined by the foundation's directors.
Grant Range
approximately $10,000–$15,000
Average Grant
award: $16,000
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation primarily funds organizations in the Lehigh Valley, Pennsylvania, the locale in which Verna O Canova was born and resided during her entire lifetime. Grantmaking is concentrated in Pennsylvania, with additional funding activity in Massachusetts, Minnesota, and New Mexico. Specific communities served include Allentown, Bethlehem, and Carlisle, Pennsylvania.
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
Assets and Revenue (as of December 2023):
- Total assets: $4,394,908
- Total revenues: $152,417
- Total expenses: $432,959
- Investment income and dividends: $146,631
- Net gain from sale of non-inventory assets: $5,786
Historical Asset Trends: Total assets have fluctuated over time, with reported assets of $6.7 million in 2024 tax filings, representing changes in the foundation's investment portfolio and distributions.
Annual Income: Annual income is reported at approximately $509,000 in recent filings.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $4,418,838 | $4,394,908 | $4,675,450 |
| Revenue | $373,715 | $152,417 | $171,723 |
| Expenses | $349,785 | $432,959 | $462,714 |
| Qualifying Distributions | $305,085 | $384,348 | $399,190 |
| Net Investment Income | $304,752 | $80,888 | $101,548 |
| Distributable Amount | $307,766 | $266,910 | $272,917 |
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
122 grants across all recorded years
Open Grants
1 open opportunity from Verna O Canova Foundation
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Officers and Directors:
- Kristen Landreth Dean – President and Director (Cohasset, MA)
- Philip E. Canova – Vice President, Treasurer, and Director (Marine on St. Croix, MN)
- Parker Landreth – Secretary and Director (Wilmington, MA)
All three officers serve in their roles with minimal hours per week and receive modest compensation.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| KRISTEN LANDRETH DEAN | PRESIDENT | 1 | $10,000 |
| PHILIP E CANOVA | VICE PRESIDENT, TREASURER | 1 | $12,737 |
| PARKER LANDRETH | SECRETARY, DIRECTOR | 1 | $10,000 |
Subject Areas
Focus areas based on grantmaking activity
Related Funders
Similar funders by location and focus area
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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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