William Coltrane & Norma Craft Cannon
- Assets
- $4.4m
- Revenue
- $962.1k
- Investments
- $4.4m
- Employees
- 0
- Location
- High Point, NC
- Founding
- 11/2007
- Data as of
- 12/2023
- EIN
- 25-6893619
Organization Overview
William Coltrane & Norma Craft Cannon is located in High Point, NC. The organization was established in 2007. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. William Coltrane & Norma Craft Cannon is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, William Coltrane & Norma Craft Cannon generated $962.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 24.4% each year . All expenses for the organization totaled $759.3k during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, William Coltrane & Norma Craft Cannon has awarded 157 individual grants totaling $3,632,500. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pinnacle Bank Trustee | 1 | $0 | |
William C Cannon Jr Co-Trustee | 3 | $33,212 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $1,054 |
| Dividends & Interest | $148,538 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $812,524 |
| Capital Gain Net Income | $812,524 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $962,116 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $33,212 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $4,750 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $49,877 |
| Total operating and administrative expenses | $89,314 |
| Contributions, gifts, grants paid | $670,000 |
| Total expenses and disbursements | $759,314 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $13,737 |
| Savings and temporary cash investments | $40,714 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $162,395 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,419,109 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, William Coltrane & Norma Craft Cannon has awarded $670,000 in support to 23 organizations.
| Grant Recipient | Amount |
|---|---|
AUSTISM SOCIETY OF NORTH CAROLINA PURPOSE: GENERAL OPERATING | $25,000 |
BOYS AND GIRLS CLUB OF CABARRUS COUNTY PURPOSE: GENERAL OPERATING | $22,000 |
CABARRUS COUNTY MEALS ON WHEELS PURPOSE: GENERAL OPERATING | $10,000 |
CANNON YMCA PURPOSE: EDUCATION | $100,000 |
CENTRAL NORTH CAROLINA COUNCIL BOYS SCOUTS OF AMERICA PURPOSE: GENERAL OPERATING | $22,000 |
CONCORD POLICE FOUNDATION PURPOSE: GENERAL OPERATING | $20,000 |