Canaan Foundation Trust
- Assets
- $820.9k
- Revenue
- $153.8k
- Investments
- $816.2k
- Employees
- 0
- Location
- Traverse City, MI
- Founding
- Data as of
- 12/2023
- EIN
- 86-2393974
Organization Overview
Canaan Foundation Trust is located in Traverse City, MI. 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. Canaan Foundation Trust 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 12/2023, Canaan Foundation Trust generated $153.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (44.5%) each year. All expenses for the organization totaled $54.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keith M Nielson President | 0 | $0 | |
Dana A Crosby Vice Preside | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $18,768 |
| Interest on Savings | $22 |
| Dividends & Interest | $18,476 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $14,386 |
| Capital Gain Net Income | $14,386 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $102,108 |
| Total Revenue | $153,760 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $215 |
| Depreciation | $19,815 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $18,622 |
| Total operating and administrative expenses | $38,652 |
| Contributions, gifts, grants paid | $15,340 |
| Total expenses and disbursements | $53,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,772 |
| 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 | $816,165 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $820,937 |
| 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, Canaan Foundation Trust has awarded $15,340 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
ASSEMBLIES OF GOD PURPOSE: GENERAL DONATION | $1,920 |
BIG LIFE PURPOSE: GENERAL DONATION | $2,016 |
LIVING HOPE ASSEMBLY OF GOD PURPOSE: GENERAL DONATION | $2,598 |
MISSION EURASIA PURPOSE: GENERAL DONATION | $2,750 |
NEW HOPE CHURCH PURPOSE: GENERAL DONATION | $3,000 |
THE FATHERS HOUSE PURPOSE: GENERAL DONATION | $1,300 |