Cannon School Inc

Analysis

Cannon School Inc is a registered charity in United States, based in Concord, NC. It received its IRS tax-exemption ruling in September 1970, 56 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Cannon School Inc reported income of $35.3m and spending of $30.2m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $24.3m to $35.3m (+45%), an average of +9.8% a year. The sharpest change came in the year to June 2023, when income rose by 24%. Over the whole period it spent 93% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cannon School Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 99th percentile within NC. Charities of a similar size with the same main cause include Odyssey Charter School Incorporated ($35.3m), Leap Academy Charter School ($35.4m) and Cambridge College Inc ($35.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 17% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $602k (2.0% of expenses). Other salaries and wages came to $13.5m. At year end it held assets of $56.9m against liabilities of $13.6m, net assets of $43.3m. It reported 393 employees.