Waterproof Foundation Inc
Waterproof Foundation Inc is a private grantmaking foundation based in West Lake Hills, Texas. The organization is designated as a 501(c)(3) nonprofit and has been tax-exempt since June 2011. It operates as an independent foundation focused on philanthropic grantmaking activities.
Key facts about Waterproof Foundation Inc
- EIN
- 27-3816047
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $461,505
- Grants made (2024)
- 23
- Average grant
- $20,065
- Median grant
- $5,000
- New grantees (estimate)
- 13% first-time grantees (3 of 23, 2024)
- Total assets
- $1,834,428
- Primary geography
- Texas (51% of itemized 2024 grant dollars)
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology).
Who Waterproof Foundation Inc funds
By grant dollars, the top recipient states for Waterproof Foundation Inc's 23 itemized 2024 grants were Texas (51%) and North Carolina (43%). The most frequent recipient cities were Austin, TX (11 grants). None of its 23 grants with a stated purpose were described as general or operating support. Recurring purposes include "Education" (6 grants), "Social Welfare" (3 grants) and "Medical Treatment" (3 grants).
Is Waterproof Foundation Inc open to new grantees?
13%
first-time grantees, 2024
In 2024, 3 of 23 grantees (13%) were first-time recipients. First grants averaged $3K; repeat grants $23K. How we count
Medians: $3K first-time, $5K repeat.
- 70% of 2024 grantees were also funded in 2023. Method
- Giving held roughly steady from 2021 to 2024 (+3%). Method
- In 2024 it paid out 394% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized IRS Form 990-PF grant lists (2019–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Next steps with Waterproof Foundation Inc
- How to evaluate Waterproof Foundation Inc as a funder
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Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$1.8M
-17.1% YoY
Annual Giving
$462K
+5.2% YoY
Grant Count
23
-4.2% YoY
Avg Grant Size
$20K
+9.8% YoY
Under IRS private-foundation payout rules, Waterproof Foundation Inc reported a distributable amount of $119K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's primary funding interests include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
Grantmaking
The foundation actively distributes funds to support its focus areas, with consistent annual grantmaking activity.
Grant Range
$1,000–$305,000
Ready to take the next step with Waterproof Foundation Inc?
Geographic Focus
Where this funder awards grants
The foundation primarily directs its grantmaking toward organizations in:
- Texas
- New York
- Montana
Grant Distribution by State
Share of all 23 itemized 2024 grant dollars.
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $2.21–$2.4 million
- Total Liabilities: $0
- Annual Revenue: $70.2k
- Annual Expenses: $450k
- Total Distributions: $444k
The foundation maintains a healthy financial position with no outstanding liabilities and consistent annual grantmaking capacity.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $1,834,428 | $2,212,201 | $2,593,644 |
| Revenue | $96,673 | $70,157 | $58,770 |
| Expenses | $474,621 | $450,201 | $569,047 |
| Qualifying Distributions | $467,627 | $444,350 | $539,442 |
| Net Investment Income | $90,550 | $93,239 | $54,327 |
| Distributable Amount | $118,552 | $130,948 | $151,993 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2019–2024
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
123 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest recipients include UNC-Chapel Hill ($200,000), Uatx ($100,000), St Andrew's Episcopal School ($60,000).
| Recipient | Purpose | Amount |
|---|---|---|
| UNC-CHAPEL HILL Chapel Hill, NC | EDUCATION | $200,000 |
| UATX Austin, TX | EDUCATION | $100,000 |
| ST ANDREW'S EPISCOPAL SCHOOL Austin, TX | EDUCATION | $60,000 |
| HEARTGIFT FOUNDATION Austin, TX | MEDICAL TREATMENT | $15,005 |
| CLEVELAND CLINIC Cleveland, OH | MEDICAL TREATMENT | $10,000 |
| MD ANDERSON Houston, TX | MEDICAL RESEARCH | $10,000 |
| MIRACLE FOUNDATION Austin, TX | SOCIAL WELFARE | $10,000 |
| TEXAS WILDLIFE ASSOCIATION FOUNDATION New Braunfels, TX | WILDLIFE CONSERVATION | $10,000 |
| AUSTIN COMMUNITY FOUNDATION Austin, TX | SOCIAL WELFARE | $5,000 |
| HILLSDALE COLLEGE Hillsdale, MI | EDUCATION | $5,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
The foundation is led by the following officers:
| Name | Title |
|---|---|
| Elizabeth Scott Loewenbaum | Chairman and Vice President |
| Anna Loewenbaum Hargrove | President |
| Reginald Hargrove | Secretary |
| Patrick Chalmers | Treasurer |
Compensation Overview
No officer or director reported compensation in the available filings.
From 2024 IRS filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| Elizabeth Scott Loewenbaum | Chairman and VP | 1 | — |
| Anna Loewenbaum Hargrove | President | 1 | — |
| Reginald Hargrove | Secretary | 1 | — |
| Patrick Chalmers | Treasurer | 1 | — |
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Waterproof Foundation Inc fund?
The foundation's primary funding interests include: • Education • Philanthropy, Voluntarism & Grantmaking • Human Services
How do I apply for a grant from Waterproof Foundation Inc?
**Grant Activity:** • Total giving in 2023: $438,500–$444,000 • Number of grants awarded: 24 grants (2023) • Typical grant range: $1,000–$305,000 • Median grant amount: $5,000 • Maximum grant awarded: $200,000 The foundation actively distributes funds to support its focus areas, with consistent annual grantmaking activity.
Where does Waterproof Foundation Inc make grants?
The foundation primarily directs its grantmaking toward organizations in: • Texas • New York • Montana
What size grants does Waterproof Foundation Inc award?
In 2024, Waterproof Foundation Inc awarded 23 grants totaling $462K — an average of about $20K per grant, based on its IRS Form 990 filings.
How much is Waterproof Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Waterproof Foundation Inc reported a distributable amount of $119K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Waterproof Foundation Inc's EIN?
Waterproof Foundation Inc's EIN (Employer Identification Number) is 27-3816047. IRS Form 990 filing data is available on this page for 2019–2024.
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Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.