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
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
No grants recorded for .
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
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Similar funders by location and focus area
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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