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

AS THE COMMMUNITY FOUNDATION SERVING MCLENNAN COUNTY, TEXAS, WACO FOUNDATION IS AN INDEPENDENT PUBLIC CHARITY THAT STEWARDS PHILANTHROPIC RESOURCES FROM INSTITUTIONAL AND INDIVIDUAL DONORS AND DIRECTS THEIR USE FOR THE BENEFIT OF COMMUNITY-BASED CHARITIES. THE GOAL OF WACO FOUNDATION IS TO INCREASE QUALITY OF LIFE IN THE GEOGRAPHIC AREA IT SERVES, MCLENNAN COUNTY. WACO FOUNDATION DEVOTES THE RESOURCES IN ITS CARE TO EFFORTS THAT IDENTIFY AND ADDRESS THE COMMUNITY'S GREATEST NEEDS. ACTIVITIES ARE GOVERNED BY A VOLUNTARY, ROTATING BOARD OF TRUSTEES COMPRISED OF PEOPLE FROM THE COMMUNITY, WHICH USES ITS VARIANCE POWER TO ENSURE THAT THE INTERESTS OF THE ENTIRE COMMUNITY ARE THE FOCUS OF THE WORK AND THAT THE WORK REMAINS RELEVANT OVER TIME.

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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

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

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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