Waco Foundation is a community foundation based in Waco, Texas, serving McLennan County in central Texas. Established in 1958 and tax-exempt since August 1963, the organization operates as a 501(c)(3) public charity dedicated to strategic and purposeful support of community improvement and quality of life for residents of McLennan County.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$142.3M
+11.6% YoY
Annual Giving
$3.9M
-9.7% YoY
Grant Count
81
+2.5% YoY
Avg Grant Size
$48K
-11.9% YoY
Mission & Focus Areas
The Foundation connects donors to causes, leaders to ideas, and communities to resources. Primary focus areas include:
- Education: Supporting student completion of college debt-free through the Duncan Scholars program, designed to increase local college graduation rates while eliminating student debt
- Systemic Poverty Reduction: Supporting community-wide efforts to end systemic poverty and promote education and health
- Nonprofit Capacity Building: Providing grants and services that promote nonprofit and public sector efforts to address community challenges
- Community Improvement: General quality of life improvements for McLennan County residents
Grantmaking
Waco Foundation provides support through multiple mechanisms:
How to Apply
**
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Geographic Focus
Where this funder awards grants
McLennan County, located in central Texas, with primary operations in Waco, Texas.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2025 (Most Recent Filing):
- Total Assets: $148 million
- Total Revenue: $16.8 million
- Total Expenses: $12.5 million
- Total Liabilities: $827,000
As of 2024:
- Total Assets: $142.3 million
- Total Revenue: $8.6 million
- Total Expenses: $7.2 million
The Foundation manages $140 million in assets held in over 200 component funds and operates a donor-advised fund through which donors can direct the distribution or investment of funds.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $142,304,864 | $127,546,392 | $132,771,840 |
| Revenue | $8,580,319 | $11,751,252 | $26,486,121 |
| Expenses | $7,200,164 | $7,522,031 | $7,239,601 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $2,764,373 | $4,550,480 | $10,414,574 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
3 open opportunities from Waco Foundation
Waco Foundation Capacity Building Mini-Grants
WACO FOUNDATION
Amount
Up to US $5,000
Deadline
Rolling / Open
Waco Foundation: Immediate Impact Grants
WACO FOUNDATION
Amount
Up to US $5,000
Deadline
Rolling / Open
Waco Foundation: Program/Operating Support Grants
WACO FOUNDATION
Amount
Varies
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Caritas of Waco ($185,476), Cameron Park Zoological & Botanical Society ($152,867), Baylor Scott & White Central Texas Foundation ($131,570).
| Recipient | Purpose | Amount |
|---|---|---|
| ACTS XXIX LIVONIA, MI | UNDESIGNATED | $10,000 |
| AMERICAN GATEWAYS WACO, TX | UNDESIGNATED | $42,500 |
| ANIMAL BIRTH CONTROL CLINIC INC WACO, TX | UNDESIGNATED | $7,000 |
| BAYLOR SCOTT & WHITE CENTRAL TEXAS FOUNDATION TEMPLE, TX | EMERGENCY FUNDS | $131,570 |
| BAYLOR UNIVERSITY WACO, TX | UNDESIGNATED | $10,000 |
| BOSQUE MUSEUM CLIFTON, TX | UNDESIGNATED | $7,000 |
| BROWN UNIVERSITY SPORTS FOUNDATION PROVIDENCE, RI | UNDESIGNATED | $5,500 |
| BSW CTX FOUNDATION TEMPLE, TX | UNDESIGNATED | $10,000 |
| CAMERON PARK ZOOLOGICAL & BOTANICAL SOCIETY WACO, TX | UNDESIGNATED | $152,867 |
| CARITAS OF WACO WACO, TX | UNDESIGNATED | $185,476 |
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MALCOLM DUNCAN JR | TRUSTEE | 2.5 | — |
| SHERMAN AYRES | CHAIR | 2.5 | — |
| CHRIS MCSWAIN | VICE CHAIR | 2.5 | — |
| SOO BATTLE | SECRETARY/TREASURER | 2.5 | — |
| MIKE BIDWELL | TRUSTEE | 2.5 | — |
| MONTE HULSE | TRUSTEE | 2.5 | — |
| KRISTEN MYNAR | TRUSTEE | 2.5 | — |
| MIKE RAYMOND | TRUSTEE | 2.5 | — |
| MELLI WICKLIFF | TRUSTEE | 2.5 | — |
| AARON ZIMMERMAN | TRUSTEE | 2.5 | — |
| DILLON MEEK | TRUSTEE | 2.5 | — |
| CHARLES WILLIAMS | TRUSTEE | 2.5 | — |
| ASHLEY ALLISON | EXECUTIVE DIRECTOR | 39.9 | $213,251 |
| VALERIE HOLLAND | DIRECTOR OF FINANCE (APR-AUG) | 37.25 | $56,243 |
| ISABEL WEEDEN | CFO/COO (JAN - MAR) | 37.25 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Waco Foundation fund?
The Foundation connects donors to causes, leaders to ideas, and communities to resources. Primary focus areas include: • **Education**: Supporting student completion of college debt-free through the Duncan Scholars program, designed to increase local college graduation rates while eliminating student debt • **Systemic Poverty Reduction**: Supporting community-wide efforts to end systemic poverty and promote education and health • **Nonprofit Capacity Building**: Providing grants and services th…
How do I apply for a grant from Waco Foundation?
Waco Foundation provides support through multiple mechanisms: **Grant Programs:** • **Waco Foundation Operating Fund**: The organization's primary competitive grantmaking fund, providing grants to nonprofits serving McLennan County residents • **Discretionary and Field of Interest Funds**: Support competitive grant programs throughout the year • **Small Assistance Grants**: Help nonprofits secure nonprofit management guidance, services, or expertise, including professional consultant support an…
Where does Waco Foundation make grants?
McLennan County, located in central Texas, with primary operations in Waco, Texas.
What size grants does Waco Foundation award?
In 2024, Waco Foundation awarded 81 grants totaling $3.9M — an average of about $48K per grant, based on its IRS Form 990 filings.
What is Waco Foundation's EIN?
Waco Foundation's EIN (Employer Identification Number) is 74-6054628. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Waco Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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