Nonprofit · EIN 56-6042532
CANNON FOUNDATION INC
Tax-exempt · CONCORD, NC 28026
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| September 30, 2025 | 990-PF | $24,800,113 | $16,429,893 | $8,370,220 | $351,719,598 | $2,893,021 | $348,826,577 |
| September 30, 2024 | 990-PF | $20,438,264 | $17,771,070 | $2,667,194 | $329,446,542 | $3,835,626 | $325,610,916 |
| September 30, 2023 | 990-PF | $9,085,868 | $13,683,228 | -$4,597,360 | $273,257,280 | $1,312,009 | $271,945,271 |
Financial details: 990-PF for the year ended September 30, 2025
Revenue
- Dividends
- $5,648,086
- Net gain from sales of assets
- $19,152,027
Expenses
- Grants and similar amounts paid
- $13,323,361
- Compensation of officers, directors and key employees
- $522,500
- Salaries, compensation and benefits (total)
- $272,932
- Disbursements for charitable purposes
- $15,777,951
- Excise tax on investment income
- $326,617
Balance sheet and other
- Total assets, start of year
- $329,446,542
- Total assets, end of year
- $351,719,598
- Total liabilities, end of year
- $2,893,021
- Net assets, end of year
- $348,826,577
- Fair market value of assets
- $351,719,598
- Qualifying distributions
- $15,777,951
- Net investment income
- $24,800,113
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990-PF for the year ended September 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| 5 EMPLOYEES PO BOX 548, CONCORD, NC 28026 | PROFESSIONAL STAFF Highest-paid employee | 40 | $475,204 | $88,744 |
| SUZANNE PHILEMON PO BOX 548, CONCORD, NC 28026 | EXECUTIVE DIRECTOR | 40 | $260,000 | $29,814 |
| WILLIAM C CANNON JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/PRESIDENT | 20 | $30,000 | $0 |
| EDWARD K PREWITT JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/VICE PRESIDENT | 5 | $30,000 | $0 |
| WILLIAM M CONNOLLY PO BOX 548, CONCORD, NC 28026 | DIRECTOR/TREASURER | 5 | $30,000 | $0 |
| GEORGE W LILES JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/SECRETARY | 2 | $30,000 | $0 |
| EUGENE W COCHRANE JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 12 | $30,000 | $0 |
| WINSLOW H GALLOWAY PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $30,000 | $0 |
| JANET WARD BLACK PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $30,000 | $0 |
| BRITTIAN L LEATHERMAN PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $30,000 | $0 |
| ELIZABETH L QUICK PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $22,500 | $0 |
| DAN L GRAY PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
| WILLIAM S FISHER PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
| THOMAS M GRADY PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
990-PF for the year ended September 30, 2024: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| 5 EMPLOYEES PO BOX 548, CONCORD, NC 28026 | PROFESSIONAL STAFF Highest-paid employee | 40 | $439,860 | $81,735 |
| SUZANNE PHILEMON PO BOX 548, CONCORD, NC 28026 | EXECUTIVE DIRECTOR | 40 | $233,500 | $30,430 |
| WILLIAM C CANNON JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/PRESIDENT | 20 | $15,000 | $0 |
| EDWARD K PREWITT JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/VICE PRESIDENT | 5 | $15,000 | $0 |
| WILLIAM M CONNOLLY PO BOX 548, CONCORD, NC 28026 | DIRECTOR/TREASURER | 5 | $15,000 | $0 |
| GEORGE W LILES JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/SECRETARY | 2 | $15,000 | $0 |
| EUGENE W COCHRANE JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 12 | $15,000 | $0 |
| WINSLOW H GALLOWAY PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $15,000 | $0 |
| JANET WARD BLACK PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $15,000 | $0 |
| BRITTIAN L LEATHERMAN PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $15,000 | $0 |
| ELIZABETH L QUICK PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $0 | $0 |
| DAN L GRAY PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
| WILLIAM S FISHER PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
| THOMAS M GRADY PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
990-PF for the year ended September 30, 2023: 14 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| 5 EMPLOYEES PO BOX 548, CONCORD, NC 28026 | PROFESSIONAL STAFF Highest-paid employee | 40 | $403,049 | $76,200 |
| SUZANNE PHILEMON PO BOX 548, CONCORD, NC 28026 | EXECUTIVE DIRECTOR | 40 | $189,280 | $20,625 |
| WILLIAM C CANNON JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/PRESIDENT | 20 | $15,000 | $0 |
| EDWARD K PREWITT JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/VICE PRESIDENT | 5 | $15,000 | $0 |
| WILLIAM M CONNOLLY PO BOX 548, CONCORD, NC 28026 | DIRECTOR/TREASURER | 5 | $15,000 | $0 |
| GEORGE W LILES JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR/SECRETARY | 2 | $15,000 | $0 |
| EUGENE W COCHRANE JR PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 12 | $15,000 | $0 |
| WINSLOW H GALLOWAY PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $15,000 | $0 |
| JANET WARD BLACK PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $15,000 | $0 |
| BRITTIAN L LEATHERMAN PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $15,000 | $0 |
| ELIZABETH L QUICK PO BOX 548, CONCORD, NC 28026 | DIRECTOR | 2 | $0 | $0 |
| DAN L GRAY PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
| WILLIAM S FISHER PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
| THOMAS M GRADY PO BOX 548, CONCORD, NC 28026 | DIRECTOR EMERITUS (NON-VOTING) | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 548, CONCORD, NC 28026-0548
- Signed the 990-PF
- SUZANNE PHILEMON, EXECUTIVE DIRECTOR
- Phone
- (704) 786-8216
- Return prepared by
- MSTILLER LLC
What it must file and when
IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in September, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | September 30, 2026 | February 16, 2027 | Not due yet |
| 2024 | September 30, 2025 | February 17, 2026 | 990-PF on file |
| 2023 | September 30, 2024 | February 18, 2025 | 990-PF on file |
IRS record
- EIN
- 56-6042532
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Private non-operating foundation
- Donations deductible (Pub 78)
- Private foundation, 30% limit
- Exempt since
- 1948
- Accounting year ends
- September
- Files
- Form 990-PF
- Assets (IRS master file)
- $351,719,598
- Income (IRS master file)
- $147,753,028
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990-PF | September 2025 | $24,800,113 | $16,429,893 | $351,719,598 | XML |
| 990-PF | September 2024 | $20,438,264 | $17,771,070 | $329,446,542 | XML |
| 990-PF | September 2023 | $9,085,868 | $13,683,228 | $273,257,280 | XML |
| 990-PF | September 2022 | – | – | – | IRS |
| 990-PF | September 2021 | – | – | – | IRS |
| 990-PF | September 2020 | – | – | – | IRS |
| 990-PF | September 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-6042532).
Questions about CANNON FOUNDATION INC
- What is the EIN of CANNON FOUNDATION INC?
- The employer identification number (EIN) of CANNON FOUNDATION INC is 56-6042532.
- Is CANNON FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1948.
- Are donations to CANNON FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
- Which annual return does CANNON FOUNDATION INC file?
- Form 990-PF. Private foundations file every year.
- When is the next return of CANNON FOUNDATION INC due?
- The return for tax year 2025 (the year ending September 30, 2026) is due February 16, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did CANNON FOUNDATION INC last file with the IRS?
- The latest return in the IRS public files is the 990-PF for the year ended September 2025.
- Who are the officers and directors of CANNON FOUNDATION INC?
- The 990-PF for the year ended September 30, 2025 lists 14 people; 11 received compensation from the organization, the highest $475,204 (5 EMPLOYEES, PROFESSIONAL STAFF).
- How much revenue does CANNON FOUNDATION INC have?
- On its 990-PF for the year ended September 30, 2025 it reported revenue of $24,800,113, expenses of $16,429,893 and total assets of $351,719,598 at year end.
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