Charles A Cannon Charitable Trust N0 One
- Assets
- $132.4m
- Revenue
- $9.6m
- Investments
- $128.1m
- Employees
- 0
- Location
- Concord, NC
- Founding
- 09/1981
- Data as of
- 03/2022
- EIN
- 56-6132354
Organization Overview
Charles A Cannon Charitable Trust N0 One is located in Concord, NC. The organization was established in 1981. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking 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. Charles A Cannon Charitable Trust N0 One 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 03/2022, Charles A Cannon Charitable Trust N0 One generated $9.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $16.1m during the year ending 03/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2021, Charles A Cannon Charitable Trust N0 One has awarded 189 individual grants totaling $26,567,371. 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 |
|---|---|---|---|
William C Cannon Jr Trustee/president | 3 | $231,167 | |
Edwin S Outen Trustee/vice-President | 3 | $231,167 | |
Joseph C Hunter Trustee/secretary | 3 | $231,167 | |
Wells Fargo Trustee (retired July 2021) | 1 | $219,622 | |
Pinnacle Financial Partners Trustee (came On July 2021) | 1 | $49,861 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Pinnacle Financial Partners | 3/30/22 | $863,351 |
Wells Fargo Bank Na | 3/30/22 | $231,373 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $4,571,122 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $4,981,416 |
| Capital Gain Net Income | $4,981,416 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $9,552,538 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $962,984 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $80,727 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $291,469 |
| Total operating and administrative expenses | $2,505,976 |
| Contributions, gifts, grants paid | $13,613,615 |
| Total expenses and disbursements | $16,119,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,295,544 |
| Savings and temporary cash investments | $0 |
| 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 | $1,289,168 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $132,429,020 |
| 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, Charles A Cannon Charitable Trust N0 One has awarded $13,670,615 in support to 107 organizations.
| Grant Recipient | Amount |
|---|---|
Concord, NC PURPOSE: REQUIRED 40% DISTRIBUTION | $5,445,000 |
Concord, NC PURPOSE: OPERATIONAL, FACILITY, TRANSPORTATION SUPPORT AND BUS PURCHASES | $350,000 |
Hickory, NC PURPOSE: HVAC IN PE MONROE AUDITORIUM | $300,000 |
Wingate, NC PURPOSE: CAMPAIGN UNRESTRICTED SUPPORT | $300,000 |
Albemarle, NC PURPOSE: CATERPILLAR 953 TRACK LOADER AND PERSONAL SAFETY/TRAINING EQUIPMENT | $270,000 |
Concord, NC PURPOSE: FAITH COMMUNITY NURSES | $255,643 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Charles A Cannon Charitable Trust N0 One has recieved totaling $0.
| Awarding Organization | Amount |
|---|---|
Appalachian Regional Healthcare Foundation Boone, NC PURPOSE: OPERATIONAL SUPPORT | $0 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Claws Foundation Reston, VA | $37,055,234 | $1,734,426 |
Dogwood Health Trust Asheville, NC | $1,386,374,836 | $630,200,598 |
Jack Kent Cooke Foundation Lansdowne, VA | $883,502,508 | $42,942,790 |
O Wayne Rollins Foundation Atlanta, GA | $468,654,801 | $21,609,282 |
Goizueta Foundation Inc Atlanta, GA | $444,757,286 | $34,966,270 |
The Leon Levine Foundation Charlotte, NC | $654,368,860 | $94,686,429 |
Maclellan Foundation Inc Chattanooga, TN | $225,301,353 | $34,552,415 |
We Are Sharing Hope Sc Charleston, SC | $50,025,063 | $34,221,211 |
The Frist Foundation Nashville, TN | $198,128,014 | $36,312,656 |
Danville Regional Foundation Danville, VA | $280,479,931 | $21,605,962 |
The Duke Energy Foundation Charlotte, NC | $4,461,931 | $408,995 |
Smith Richardson Foundation Inc Greensboro, NC | $606,694,904 | $88,589,213 |