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Nonprofit · EIN 27-0004751

THE DAVID BELK CANNON FOUNDATION

Tax-exempt · GASTONIA, NC 28054

Financials

$3.6M$4.1M2023$8.4M$10.1M2024
Revenue Expenses · by fiscal year end
Financials of THE DAVID BELK CANNON FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990-PF (amended)$8,374,309$10,050,872-$1,676,563$132,530,612$6,374,834$126,155,778
December 31, 2023990-PF$3,591,682$4,148,207-$556,525$126,273,476$3,348,333$122,925,143
Financial details: 990-PF for the year ended December 31, 2024

Revenue

Dividends
$2,813,362
Net gain from sales of assets
$5,560,947

Expenses

Grants and similar amounts paid
$9,178,600
Compensation of officers, directors and key employees
$351,598
Disbursements for charitable purposes
$6,647,863
Excise tax on investment income
$111,551

Balance sheet and other

Total assets, start of year
$126,273,476
Total assets, end of year
$132,530,612
Total liabilities, end of year
$6,374,834
Net assets, end of year
$126,155,778
Fair market value of assets
$132,530,612
Qualifying distributions
$6,647,863
Net investment income
$8,374,309

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 December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
Eugene R Matthews II
208 Burtonwood Drive, Gastonia, NC 28054
Chair & CEO32$148,000
Tamara Burrell
208 Burtonwood Drive, Gastonia, NC 28054
Executive Dir.32$128,598
Dr Richard E Rankin Jr
208 Burtonwood Drive, Gastonia, NC 28054
Director4$23,000
Ben F Matthews III
208 Burtonwood Drive, Gastonia, NC 28054
Vice Chairman4$22,000
Annabelle Kelly
208 Burtonwood Drive, Gastonia, NC 28054
Asst Secretary0.5$13,000
Mary M Vaughn
208 Burtonwood Drive, Gastonia, NC 28054
Secretary0.5$13,000
990-PF for the year ended December 31, 2023: 6 people
NameTitleHours / weekCompensation
Eugene R Matthews II
208 Burtonwood Drive, Gastonia, NC 28054
Chair & CEO25$146,000
Tamara Burrell
208 Burtonwood Drive, Gastonia, NC 28054
Executive Dir.25$120,308
Dr Richard E Rankin Jr
208 Burtonwood Drive, Gastonia, NC 28054
Director4$21,000
Ben F Matthews III
208 Burtonwood Drive, Gastonia, NC 28054
Vice Chairman4$20,000
Annabelle Kelly
208 Burtonwood Drive, Gastonia, NC 28054
Asst Secretary0.5$13,000
Mary M Vaughn
208 Burtonwood Drive, Gastonia, NC 28054
Secretary0.5$12,000

Address and contacts

Address (IRS master file)
208 BURTONWOOD DR, GASTONIA, NC 28054-4067
In care of
% TAMARA D BURRELL EX DIR
Signed the 990-PF
Eugene R Matthews II, Chair & CEO
Phone
(704) 616-4817
Return prepared by
Foard and Company PA

What it must file and when

IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-PF on file

IRS record

EIN
27-0004751
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
2002
Accounting year ends
December
Files
Form 990-PF
Assets (IRS master file)
$132,530,612
Income (IRS master file)
$60,226,584

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2024$8,374,309$10,050,872$132,530,612XML
990-TDecember 2024–––IRS
990-PFDecember 2023$3,591,682$4,148,207$126,273,476XML
990-TDecember 2023–––IRS
990-PFDecember 2022–––IRS
990-TDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-TDecember 2021–––IRS
990-PFDecember 2020–––IRS
990-TDecember 2020–––IRS
990-PFDecember 2018–––IRS
990-PFDecember 2017–––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 27-0004751).

Questions about THE DAVID BELK CANNON FOUNDATION

What is the EIN of THE DAVID BELK CANNON FOUNDATION?
The employer identification number (EIN) of THE DAVID BELK CANNON FOUNDATION is 27-0004751.
Is THE DAVID BELK CANNON FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2002.
Are donations to THE DAVID BELK CANNON FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does THE DAVID BELK CANNON FOUNDATION file?
Form 990-PF. Private foundations file every year.
When is the next return of THE DAVID BELK CANNON FOUNDATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did THE DAVID BELK CANNON FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990-PF for the year ended December 2024.
Who are the officers and directors of THE DAVID BELK CANNON FOUNDATION?
The 990-PF for the year ended December 31, 2024 lists 6 people; 6 received compensation from the organization, the highest $148,000 (Eugene R Matthews II, Chair & CEO).
How much revenue does THE DAVID BELK CANNON FOUNDATION have?
On its 990-PF for the year ended December 31, 2024 it reported revenue of $8,374,309, expenses of $10,050,872 and total assets of $132,530,612 at year end.

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