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
**
Ready to take the next step with Waco Foundation?
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
8 open opportunities from Waco Foundation
Capital Expenses Support Grants - Large Capital
WACO FOUNDATION
Amount
Greater than $40,000
Deadline
June 15, 2026
Capital Expenses Support Grants - Small Capital
WACO FOUNDATION
Amount
Up to $40,000
Deadline
June 15, 2026
Critical Needs Grant Program
WACO FOUNDATION
Amount
Up to $25,000
Deadline
June 15, 2026
Giving History
Grant recipients and amounts by year
No grants recorded for .
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
Related Funders
Similar funders by location and focus area
William Z Hayes Foundation
DALLAS, TX
Assets
$629K
Grants
4
Total Given
$28K
Tr Uw Jane James Cook Item 19
DALLAS, TX
Assets
$861K
Grants
11
Total Given
$41K
Forsyth Fbo Leonard Wood Memorial
DALLAS, TX
Assets
$320K
Grants
1
Total Given
$18K
Teas Foundation
AMARILLO, TX
Assets
$3.0M
Grants
3
Total Given
$138K
Harold D Miller Endowment Fund
DALLAS, TX
Assets
$890K
Grants
1
Total Given
$44K
Amarillo Business Foundation
AMARILLO, TX
Assets
$4.2M
Grants
13
Total Given
$222K
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
What could you do with Waco Foundation on Grantable?
- Assess strategic fit with your organization
- Draft a tailored letter of inquiry
- Find open RFPs from this funder
- Monitor for new funding opportunities