Verna O Canova Foundation
- Assets
- $4.4m
- Revenue
- $152.4k
- Investments
- $4.2m
- Employees
- 0
- Location
- Marine On St Croix, MN
- Founding
- 06/2014
- Data as of
- 12/2023
- EIN
- 46-4135266
Organization Overview
Verna O Canova Foundation is located in Marine On St Croix, MN. The organization was established in 2014. 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. Verna O Canova Foundation 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, Verna O Canova Foundation generated $152.4k in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $433.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Verna O Canova Foundation has awarded 174 individual grants totaling $2,825,938. 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 |
|---|---|---|---|
Cynthia C Landreth Secretary, Director | 1 | $20,000 | |
Philip E Canova Vice President, Treasurer | 1 | $12,000 | |
Kristen Landreth Dean President | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $146,631 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $5,786 |
| Capital Gain Net Income | $5,786 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $152,417 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $32,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $450 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $1,490 |
| Total operating and administrative expenses | $79,717 |
| Contributions, gifts, grants paid | $353,242 |
| Total expenses and disbursements | $432,959 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $166,193 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $4,188 |
| Total assets | $4,394,908 |
| 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, Verna O Canova Foundation has awarded $353,242 in support to 27 organizations.
| Grant Recipient | Amount |
|---|---|
ASPIRE TO AUTONOMY INC PURPOSE: PROGRAM AND EVENTS SUPPORT | $10,000 |
BACH ROOTS FESTIVAL PURPOSE: FESTIVAL SUPPORT | $10,000 |
BALLET GUILD OF LEHIGH VALLEY PURPOSE: DANCE PROGRAM SUPPORT | $13,000 |
BLOOM FOR WOMEN INC PURPOSE: PROGRAM AND EVENTS SUPPORT | $10,000 |
BOYS & GIRLS CLUB OF ALLENTOWN PURPOSE: AFTERSCHOOL PROGRAMS | $15,000 |
BRADBURY SULLIVAN LGBT PURPOSE: MISSION AND PROGRAM SUPPORT | $10,000 |