Cannon School Inc
- Assets
- $52.3m
- Revenue
- $28.6m
- Investments
- $0.0
- Employees
- 353
- Location
- Concord, NC
- Founding
- 09/1970
- Data as of
- 06/2022
- EIN
- 56-0935064
Organization Overview
Cannon School Inc is located in Concord, NC. The organization was established in 1970. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Cannon School Inc employed 353 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cannon School Inc 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 06/2022, Cannon School Inc generated $28.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $27.4m during the year ending 06/2022. While expenses have increased by 4.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
CANNON SCHOOL WAS FOUNDED IN 1968 AND IS A NON-PROFIT, INDEPENDENT SCHOOL THAT FOCUSES ON THE INDIVIDUAL STUDENT. THE SCHOOL OCCUPIES A 65-ACRE CAMPUS JUST OFF THE I-85 CORRIDOR IN CONCORD, NC. APPROXIMATELY 1042 STUDENTS WERE ENROLLED AT THE SCHOOL DURING THE FISCAL YEAR IN GRADES JUNIOR KINDERGARTEN THROUGH 12TH GRADE. CANNON ENCOURAGES STUDENTS TO STRETCH TO THEIR FULLEST POTENTIAL AND BECOME ENGAGED STUDENTS AND OUTSTANDING CITIZENS. CANNON'S LOWER SCHOOL STRESSES ACADEMIC EXCELLENCE, WITH A BALANCE OF ENRICHMENT OPPORTUNITIES AND AN EMPHASIS ON CHARACTER DEVELOPMENT. CANNON'S MIDDLE SCHOOL PROVIDES A CLIMATE FOR EMERGING YOUNG ADULTS TO NURTURE THEIR LOVE OF LEARNING, STRENGTHEN THEIR SELF CONCEPT, AND EXPLORE EXTRACURRICULAR ACTIVITIES. CANNON'S UPPER SCHOOL DEDICATES ITSELF TO DEVELOPING TEACHING PRACTICES AND CURRICULUM THAT EQUIP STUDENTS TO LEARN HOW TO LEARN AND IS BASED ON TRADITIONAL COLLEGE PREPARATORY CURRICULUM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INSTRUCTION - PRIMARY AND SECONDARY EDUCATION WHICH BENEFITS STUDENTS WITHOUT REGARD TO RACE, RELIGION, OR NATIONAL ORIGIN. THE SCHOOL SERVED APPROXIMATELY 1042 STUDENTS DURING THE 2021-2022 SCHOOL YEAR. SPECIAL PROGRAMS INCLUDE AFTER SCHOOL PROGRAMS AND SUMMER CAMP. AUXILIARY SERVICES INCLUDE BUS TRANSPORTATION FOR STUDENTS AND A SCHOOL STORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
G Christopher Jones Head Of School | Officer | 50 | $409,176 |
Whitney Brown Dir. Of Bus. And Finance | Officer | 50 | $155,783 |
Frederick Hartung Director Of Advancement | 40 | $144,059 | |
Regina Nixon Head Of Lower School | 40 | $138,274 | |
Debra Otey Head Of Upper School | 40 | $136,090 | |
Fabio Hurtado Director Of Studies | 40 | $134,208 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Moss Boyles Construction Llc Construction/renovation Of Classrooms | 6/29/22 | $490,832 |
Musco Sports Lighting Athletic Field Lighting Installation | 6/29/22 | $438,391 |
The Budd Group Janitorial | 6/29/22 | $369,984 |
Sylvester & Cockrum Inc Hvac Renovations | 6/29/22 | $286,717 |
Kaleidoscope Adventures Field Trips-tour Operator | 6/29/22 | $186,553 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,898 |
| All other contributions, gifts, grants, and similar amounts not included above | $902,756 |
| Noncash contributions included in lines 1a–1f | $39,592 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $914,654 |
| Total Program Service Revenue | $26,209,851 |
| Investment income | $218,199 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $823,834 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $37,724 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $28,580,834 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,560,893 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $571,700 |
| Compensation of current officers, directors, key employees. | $571,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,657,439 |
| Pension plan accruals and contributions | $821,215 |
| Other employee benefits | $1,000,648 |
| Payroll taxes | $940,346 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,867 |
| Fees for services: Accounting | $144,478 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $77,022 |
| Fees for services: Other | $0 |
| Advertising and promotion | $110,694 |
| Office expenses | $138,803 |
| Information technology | $328,612 |
| Royalties | $0 |
| Occupancy | $1,209,293 |
| Travel | $54,539 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $195,529 |
| Interest | $144,783 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,158,682 |
| Insurance | $200,305 |
| All other expenses | $84,155 |
| Total functional expenses | $27,449,830 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,730,455 |
| Savings and temporary cash investments | $1,397,788 |
| Pledges and grants receivable | $567,306 |
| Accounts receivable, net | $1,339,124 |
| Loans from Officers, Directors, or Controlling Persons | $25,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $34,428 |
| Prepaid expenses and deferred charges | $301,592 |
| Net Land, buildings, and equipment | $25,530,216 |
| Investments—publicly traded securities | $15,045,137 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $320,403 |
| Total assets | $52,291,449 |
| Accounts payable and accrued expenses | $2,037,159 |
| Grants payable | $0 |
| Deferred revenue | $8,372,350 |
| Tax-exempt bond liabilities | $2,131,449 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,014,513 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $174,298 |
| Total liabilities | $14,729,769 |
| Net assets without donor restrictions | $34,030,121 |
| Net assets with donor restrictions | $3,531,559 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $52,291,449 |
Grants Recieved
Over the last fiscal year, we have identified 23 grants that Cannon School Inc has recieved totaling $152,632.
| Awarding Organization | Amount |
|---|---|
William Coltrane & Norma Craft Cannon High Point, NC PURPOSE: EDUCATION | $50,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $30,600 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $17,068 |
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $11,050 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $7,506 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $6,800 |
Endowment Analysis
| Beg. Balance | $14,091,946 |
| Earnings | -$1,995,977 |
| Net Contributions | $728,739 |
| Other Expense | $51,321 |
| Ending Balance | $12,773,387 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bju Inc Greenville, SC | $212,805,172 | $107,816,368 |
Ensworth School Nashville, TN | $203,625,309 | $44,175,360 |
Freedom Preparatory Academy Inc Memphis, TN | $50,857,494 | $33,295,008 |
Cannon School Inc Concord, NC | $52,291,449 | $28,580,834 |
Thales Academy Raleigh, NC | $136,454,160 | $55,473,682 |
Mt Paran Christian School Inc Kennesaw, GA | $56,928,804 | $29,889,603 |
Franklin Road Academy Inc Nashville, TN | $58,128,778 | $31,046,189 |
Brentwood Academy Inc Brentwood, TN | $50,379,157 | $25,930,047 |
Lake Norman Charter School Inc Huntersville, NC | $64,551,351 | $25,126,213 |
Greensboro Independent School Corporation Greensboro, NC | $42,520,891 | $22,760,621 |
Trinity School Inc Atlanta, GA | $133,203,671 | $25,058,941 |
Hammond School Columbia, SC | $54,753,815 | $20,190,119 |