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.
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
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Geographic Focus
Where this funder awards grants
The foundation primarily directs its grantmaking toward organizations in:
- Texas
- New York
- Montana
Grant Distribution by State
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 |
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 include Unc-chapel Hill ($200,000), Uatx ($100,000), St Andrew's Episcopal School ($60,000).
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN FRIENDS OF SHEBA MEDICAL CENTER LOS ANGELES, CA | MEDICAL TREATMENT AND RESEARCH | $1,000 |
| AUSTIN COMMUNITY FOUNDATION AUSTIN, TX | SOCIAL WELFARE | $5,000 |
| CLEVELAND CLINIC CLEVELAND, OH | MEDICAL TREATMENT | $10,000 |
| EXPLORE AUSTIN AUSTIN, TX | LEADERSHIP, MENTORING | $1,000 |
| FLATHEAD LAKERS POLSON, MT | WATER CONSERVATION | $1,000 |
| FOUNDATION FOR INDIVIDUAL RIGHTS AND EXPRESSION PHILADELPHIA, PA | EDUCATIONAL | $1,000 |
| HEARTGIFT FOUNDATION AUSTIN, TX | MEDICAL TREATMENT | $15,005 |
| HILLSDALE COLLEGE HILLSDALE, MI | EDUCATION | $5,000 |
| JEWISH COMMUNITY CENTER OVERLAND PARK, KS | RELIGIOUS | $500 |
| MD ANDERSON HOUSTON, TX | MEDICAL RESEARCH | $10,000 |
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
From 2024 IRS filing
From 2024 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.
Explore Open Grants
Browse active grant opportunities in Waterproof Foundation Inc'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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