WACO FOUNDATION

EIN: 746054628 501(c)(3) Philanthropy & Grantmaking

Waco, TX

Total Revenue
$16,820,955
Total Expenses
$12,499,829
Total Assets
$148,387,558
Net Assets
$147,560,704
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1958
Legal Domicile
TX
Principal Officer
ASHLEY ALLISON
Phone
2547543404
Tax Period
2024-04-01 to 2025-03-31

WACO FOUNDATION, founded in 1958, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $16.8M in total revenue in fiscal year 2024. Revenue surged 96% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.3M, a strong 26% operating margin.

Mission

THE MISSION OF WACO FOUNDATION IS TO PROMOTE SOLUTIONS TO COMMUNITY CHALLENGES, STRENGTHEN LOCAL NONPROFITS, ENGAGE PHILANTHROPISTS AND MANAGE CHARITABLE ASSETS IN ORDER TO IMPROVE QUALITY OF LIFE IN MCLENNAN COUNTY.

Program Service Accomplishments

Program 1
Expenses: $8,423,942

THIS INCLUDES ALL OTHER FUNDS OWNED AND MANAGED BY WACO FOUNDATION - 269 DESIGNATED, DONOR ADVISED, SCHOLARSHIP, FIELD OF INTEREST AND DISCRETIONARY FUNDS.

Program 2
Expenses: $1,194,279 Revenue: $45,450

ORGANIZATIONAL MISSION" PROGRAM: THIS FUND PROVIDES GRANTS AND SERVICES THAT PROMOTE NONPROFIT AND PUBLIC SECTOR EFFORTS TO ADDRESS COMMUNITY CHALLENGES. PROGRAM ACTIVITIES INCLUDE, BUT ARE NOT...

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ORGANIZATIONAL MISSION" PROGRAM: THIS FUND PROVIDES GRANTS AND SERVICES THAT PROMOTE NONPROFIT AND PUBLIC SECTOR EFFORTS TO ADDRESS COMMUNITY CHALLENGES. PROGRAM ACTIVITIES INCLUDE, BUT ARE NOT LIMITED TO: (A) THE AWARD OF SMALL ASSISTANCE GRANTS TO HELP NONPROFITS SECURE NONPROFIT MANAGEMENT GUIDANCE, SERVICE OR EXPERTISE. THIS INCLUDES HELP FROM A PROFESSIONAL NONPROFIT CONSULTANT, TOPICAL TRAININGS (E.G. FUND DEVELOPMENT, PROPOSAL WRITING) OR PROFESSIONAL DEVELOPMENT COURSES; (B) PROVIDING ACCESS TO FIELD/SECTOR SPECIFIC EDUCATIONAL RESOURCES OR THE DELIVERY OF TRAININGS INTENDED TO SUPPORT COMMUNITY ORIENTED PROBLEM SOLVING AND SYSTEMS LEVEL STRATEGIZING (E.G. MEETING FACILITATION) (C) THE CREATION, IDENTIFICATION, OR SHARING (VIA WEBSITES AND NEWSLETTERS) OF RESOURCES AND INFORMATION ON A VARIETY OF TOPICS INCLUDING BUT NOT LIMITED TO FUND DEVELOPMENT, FINANCIAL MANAGEMENT AND SUSTAINABILITY, LEADERSHIP, BEST PRACTICES IN NONPROFIT MANAGEMENT. (D) THE DELIVERY OF A CIVIC/COMMUNITY-ORIENTED LEADERSHIP SKILLS DEVELOPMENT PROGRAM. (E) SUPPORTING EFFORTS TO ADDRESS EARLY CHILDHOOD QUALITY OF LIFE FACTORS.

Program 3
Expenses: $943,971 Revenue: $15,569

WACO FOUNDATION OPERATING FUND: THIS FUND IS THE ORGANIZATION'S PRIMARY COMPETITIVE GRANTMAKING FUND, PROVIDING GRANTS TO NONPROFITS THAT SERVCE MCLENNAN COUNTY RESIDENTS, ALONG WITH OTHER FUNDS...

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WACO FOUNDATION OPERATING FUND: THIS FUND IS THE ORGANIZATION'S PRIMARY COMPETITIVE GRANTMAKING FUND, PROVIDING GRANTS TO NONPROFITS THAT SERVCE MCLENNAN COUNTY RESIDENTS, ALONG WITH OTHER FUNDS (DISCRETIONARY AND SELECTED FIELD OF INTEREST FUNDS) THAT SUPPORT OUR COMPETITIVE GRANT PROGRAM. THE FOUNDATION PROVIDES SUPPORT TO SEVERAL COMMUNITY WIDE EFFORTS DESIGNED TO END SYSTEMIC POVERTY AND PROMOTE EDUCATION AND HEALTH. THE GRANTS MADE FROM OUR DISCRETIONARY PROGRAM BENEFITED OVER 11 INSTITUTIONS AND ORGANIZATIONS, INCLUDING SMALL NONPROFITS, WHICH ADDRESS BASIC HUMAN NEEDS, TO LARGE INSTITUTIONS WORKING TO INTERVENE WITH SYSTEMIC ISSUES THAT LEAD TO POVERTY.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $10,509,377
Program Service Revenue $0
Investment Income $6,271,707
Other Revenue $39,871
TOTAL REVENUE $16,820,955

Expense Breakdown

Grants Paid $8,126,318
Salaries & Benefits $1,990,367
Fundraising Expenses $87,227
Program Expenses $10,912,544
Other Expenses $2,383,144
TOTAL EXPENSES $12,499,829

Year-over-Year Comparison

2024 2023 Change
Revenue $16,820,955 $8,580,319 +1.0%
Expenses $12,499,829 $7,200,164 +0.7%
Net Income $4,321,126 $1,380,155 +2.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

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Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
11
Independent Members
11
Employees
20
Volunteers
33

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Ashley Allison Executive Director 39.90
$228,250 $29,335 $257,585
Isabel Weeden CFO/COO 39.90
$167,499 $11,052 $178,551
MALCOM DUNCAN JR Trustee 2.50
Director
$0 $0 $0
MONTE HULSE Trustee 2.50
Director
$0 $0 $0
DILLON MEEK Trustee 2.50
Director
$0 $0 $0
KRISTEN MYNAR Trustee 2.50
Director
$0 $0 $0
MIKE RAYMOND Trustee 2.50
Director
$0 $0 $0
MELLI WICKLIFF Trustee 2.50
Director
$0 $0 $0
AARON ZIMMERMAN Trustee 2.50
Director
$0 $0 $0
WALTER ABERCROMBIE Trustee 2.50
Director
$0 $0 $0
SHERMAN AYRES Chairman 2.50
Officer
$0 $0 $0
CHRIS MCSWAIN Trustee 2.50
Officer
$0 $0 $0
SOO BATTLE Treasurer 2.50
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $16,820,955 $12,499,829 $148,387,558 $4,321,126
2024 $8,580,319 $7,200,164 $142,304,864 $1,380,155
2023 $11,751,252 $7,522,031 $127,546,392 $4,229,221
2022 $26,486,121 $7,239,601 $132,771,840 $19,246,520
2021 $8,908,496 $6,753,791 $115,989,579 $2,154,705
2020 $20,305,628 $8,514,402 $87,878,638 $11,791,226
2019 $15,604,607 $5,602,978 $97,060,627 $10,001,629
2018 $8,593,413 $4,872,889 $86,773,265 $3,720,524
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