The Cannon Foundation began in 1943, much as a corporate foundation, with giving focused on communities where Cannon Mills plants were located.

The primary focus areas of the foundation are:

* Healthcare
* Higher Education
* Human Services.

The primary focus areas receive about 90% of the foundation's funding. Other more limited areas of interest for the foundation include the following:

* Arts
* Culture
* Historic Preservation
* Religion
* Environment

Grants are typically made for capital improvements, project support, or special programs. The foundation does not typically support organizational support projects.

Applications may be submitted at any time.

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