Verna O Canova Foundation
- Assets
- $5.0m
- Revenue
- $707.6k
- Investments
- $4.6m
- Employees
- 0
- Location
- Marine On St Croix, MN
- Founding
- 06/2014
- Data as of
- 12/2021
- 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 12/2021, Verna O Canova Foundation generated $707.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 21.9% each year . All expenses for the organization totaled $341.0k during the year ending 12/2021. While expenses have increased by 17.7% 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 2015, Verna O Canova Foundation has awarded 124 individual grants totaling $2,103,062. 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 President, Secretary, Dire | 1 | $15,000 | |
Philip E Canova Vice President, Treasurer, | 1 | $12,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $149,836 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $557,752 |
| Capital Gain Net Income | $557,752 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $707,588 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $27,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $2,587 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $919 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $74,014 |
| Contributions, gifts, grants paid | $267,000 |
| Total expenses and disbursements | $341,014 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $335,514 |
| 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 | $2,327,777 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $4,188 |
| Total assets | $4,966,441 |
| 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 $267,000 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
Bethlehem, PA PURPOSE: GENERAL CONTRIBUTION | $35,000 |
Allentown, PA PURPOSE: GENERAL CONTRIBUTION | $20,000 |
Allentown, PA PURPOSE: GENERAL CONTRIBUTION | $20,000 |
Allentown, PA PURPOSE: GENERAL CONTRIBUTION | $15,000 |
Allentown, PA PURPOSE: GENERAL CONTRIBUTION | $10,000 |
COMMUNITY MUSIC SCHOOL PURPOSE: GENERAL CONTRIBUTION | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Childrens Fund Inc Neenah, WI | $1,153,019 | $79,562,043 |
Ghr Foundation Minneapolis, MN | $0 | $118,752,892 |
Alfred And Isabel Bader 2014 Charitable Trust Milwaukee, WI | $88,717,556 | $62,553,918 |
Goodman Family Operating Foundation Chaska, MN | $298,216,479 | $15,439,155 |
Robert And Adele Schiff Family Foundation Inc Milwaukee, WI | $226,331,394 | $18,541,997 |
Wca Foundation C/O The Minneapolis Foundation Minneapolis, MN | $0 | $1,050,329 |
Esther And Harold Mertz Foundation Sioux Falls, SD | $674,132,608 | $21,835,940 |
Larson Foundation Sioux Falls, SD | $23,259,212 | -$633,184 |
John T Vucurevich Foundation Rapid City, SD | $151,565,692 | $20,798,188 |
Fund For Wisconsin Scholars Inc Madison, WI | $273,321,225 | $22,010,196 |
Pohlad Family Foundation Minneapolis, MN | $102,001,164 | $18,381,775 |
Roy J Carver Charitable Tr Muscatine, IA | $235,043,756 | $22,231,044 |