Cannon Charitable Foundation Inc
- Assets
- $987.9k
- Revenue
- $53.8k
- Investments
- $1.0m
- Employees
- 0
- Location
- Jackson, MS
- Founding
- 04/2019
- Data as of
- 12/2022
- EIN
- 82-3782788
Organization Overview
Cannon Charitable Foundation Inc is located in Jackson, MS. The organization was established in 2019. 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. Cannon Charitable Foundation 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 12/2022, Cannon Charitable Foundation Inc generated $53.8k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $104.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Cannon Charitable Foundation Inc has awarded 43 individual grants totaling $275,000. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William B Ferrell Jr President | 0 | $0 | |
Dora S Ferrell Secretary-Tr | 0 | $0 | |
Arthur M Edwards III Assistant Se | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $551 |
| Dividends & Interest | $15,807 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $37,424 |
| Capital Gain Net Income | $37,424 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $53,782 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $25 |
| Taxes | $1,125 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $21,020 |
| Contributions, gifts, grants paid | $83,000 |
| Total expenses and disbursements | $104,020 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$16,191 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $987,917 |
| 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, Cannon Charitable Foundation Inc has awarded $83,000 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN CANCER SOCIETY PURPOSE: FOR ELIMINATING CANCER | $2,200 |
MSU FOUNDATION PURPOSE: PROVIDE SCHOLARSHIPS | $1,000 |
MSU FOUNDATION PURPOSE: PROVIDE SCHOLARSHIPS | $60,000 |
GATEWAY RESCUE PURPOSE: FOOD & CLOTHING FOR HOMELESS | $3,000 |
NATIONAL RIGHT TO WORK PURPOSE: ELIMINATING UNIONISM ABUSES | $3,800 |
NRA FOUNDATION PURPOSE: DEFEND THE RIGHT TO BEAR ARMS | $3,800 |