Overview
What is Waco Foundation?
The Waco Foundation is a community foundation based in Waco, Texas, serving McLennan County. As an independent public charity, it manages philanthropic resources from individual and institutional donors and distributes grants to local charities. The foundation's primary grantmaking fund focuses on nonprofits serving McLennan County residents, while other funds support initiatives to end poverty and promote education and health. With a rotating board of trustees, the Waco Foundation aims to address the community's greatest needs and improve quality of life in the area. The organization currently employs 18 individuals.
Official website here: www.wacofoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating 97% - Four-Star out of Four Star Rating
The Waco Foundation has earned a strong Four-Star rating from Charity Navigator, reflecting its high level of accountability and finance management. With an impressive overall score of 97%, the organization's financial practices are well-regarded, indicating a solid foundation for operational transparency and effectiveness. The evaluation highlights that it has a fully independent board, comprehensive oversight policies, and no reported material diversion of assets.
Strengths of the Waco Foundation include an outstanding program expense ratio of 85.18%, which suggests that a significant portion of its budget is directed towards its programs rather than administrative expenses. Additionally, the organization demonstrates remarkable fundraising efficiency with minimal costs incurred to raise funds, promoting a sustainable approach to philanthropy. Its longstanding working capital ratio of 17.62 years is indicative of strong financial health, allowing for stability and ongoing support for its initiatives.
While the data overwhelmingly supports the Waco Foundation's strengths, as with any organization, continuous monitoring and evaluation are essential to maintain its effectiveness and uphold the high standards set forth. Overall, the foundation's strong financial practices and commitment to accountability position it as a trustworthy nonprofit in the community.
This AI summary has been generated from information found on Charity Navigator.
Is Waco Foundation legitimate?
Waco Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Waco Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $292,218
Professional Fundraising Fees: $0
Other Salaries and Wages: $554,224
For more financial information, click here
Official website here: www.wacofoundation.org
What is the mission statement of Waco Foundation?
The Waco Foundation serves as the community charity of McLennan County, Texas. As an independent public charity, it manages philanthropic resources from both institutional and individual donors and directs their use towards the betterment of local charities. The foundation's goal is to enhance the quality of life in the community it serves. It identifies and addresses the community's greatest needs and governs its activities through a rotating board of trustees. The Waco Foundation's mission is to promote solutions to community challenges, strengthen local nonprofits, engage philanthropists, and manage charitable assets to improve quality of life. It provides grants to various nonprofits addressing basic human needs and systemic issues leading to poverty.
Official website here: www.wacofoundation.org
Who is the CEO of Waco Foundation?
Ashley Dulski is the Chair of Waco Foundation.
Official website here: www.wacofoundation.org
What is the revenue of Waco Foundation?
Waco Foundation's revenue in 2022 was $26,486,121.
Official website here: www.wacofoundation.org
Who are the executives of Waco Foundation and what are their salaries?
The average compensation at Waco Foundation during 2022 was $47,025. There are 18 employees and 42 volunteers at Waco Foundation.
Here are 12 key members and their salaries:
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- Compensation: $180,152
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- Other: $22,898
- Compensation: $80,907
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- Other: $7,637
Official website here: www.wacofoundation.org
Where can I find the form 990 for Waco Foundation?
Waco Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.wacofoundation.org
Learn more at the official website: www.wacofoundation.org
Mission Statement of Waco Foundation
Waco Foundation, an independent public charity in Texas, is dedicated to improving the quality of life in its community by stewarding philanthropic resources from various donors. This community foundation, governed by a voluntary and rotating board of trustees, focuses on addressing the greatest needs in the community. Through its primary competitive grantmaking fund, the Waco Foundation provides grants to local nonprofits that serve residents of McLennan County. The foundation is also involved in several community-wide initiatives aimed at ending systemic poverty and promoting education and health. In addition to its primary fund, Waco Foundation manages other funds that support its competitive grant program. These funds have benefited over eighteen institutions and organizations, including small nonprofits addressing basic human needs and large institutions working to intervene with systemic issues that lead to poverty. By promoting solutions to community challenges, strengthening local nonprofits, engaging philanthropists, and managing charitable assets, Waco Foundation is committed to making a significant impact in McLennan County.
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Impact
October, 2024
Waco Foundation significantly enhances the quality of life in McLennan County, Texas, by strategically directing philanthropic resources to address the community's most pressing needs. Through its primary competitive grantmaking fund, the Foundation invests in a wide range of initiatives—supporting everything from small charities addressing basic human needs to large institutions tackling systemic poverty.
The Foundation's approach is rooted in community engagement, relying on a rotating board of trustees composed of local individuals who ensure that the interests of all residents are represented. This governance model enables the foundation to remain responsive and relevant to the evolving challenges faced by the community.
By prioritizing education, health, and poverty alleviation, Waco Foundation orchestrates impactful collaborations and supports numerous organizations to create a sustainable, positive change. Its grants have benefited over eighteen institutions, fostering a robust network of support that strengthens local charities and initiatives. Ultimately, Waco Foundation serves as a vital catalyst for social improvement, empowering both philanthropists and the organizations they support to work collectively toward a brighter future for McLennan County.
This information is meant to be a general summary of Waco Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $10,414,574
- Gross Receipts: $45,068,784
Assets and Liabilities:
- Total Assets: $132,771,840
- Total Liabilities: $939,335
- Net Assets: $131,832,505
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Organization Details
Founding Year
1958
Phone
(254) 754-3404Principal Officer
Ashley Dulski
Main Address
800 WASHINGTON AVE, WACO, TX, 76701
Website
www.wacofoundation.orgNTEE Category
Code: T310 - Philanthropy
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