Waco Foundation
Nonprofit profile at a glance
- EIN
- 746054628
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- Waco, TX, USA
- Phone
- 2547543404
- Rating
- 84
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Community Foundations
Reported finances
- Revenue
- $16,820,955
- Expenses
- $12,499,829
- Assets
- $148,387,558
- Liabilities
- $826,854
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- Ashley Allison (Executive Director)
Highest reported compensation
- Ashley Allison (Executive Director): $257,585 total reported compensation
- Isabel Weeden (CFO/COO): $178,551 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The mission of waco foundation is to promote solutions to community challenges, strengthen local nonprofits, engage philanthropists and manage charitable assets in order to improve quality of life in mclennan county.
What it reported doing in 2024
Organizational mission" program: this fund provides grants and services that promote nonprofit and public sector efforts to address community challenges. Program activities include, but are not limited to: (a) the award of small assistance grants to help nonprofits secure nonprofit management guidance, service or expertise. This includes help from a professional nonprofit consultant, topical trainings (e.g. Fund development, proposal writing) or professional development courses; (b) providing access to field/sector specific educational resources or the delivery of trainings intended to support community oriented problem solving and systems level strategizing (e.g. Meeting facilitation) (c) the creation, identification, or sharing (via websites and newsletters) of resources and information on a variety of topics including but not limited to fund development, financial management and sustainability, leadership, best practices in nonprofit management. (d) the delivery of a civic/community-oriented leadership skills development program. (e) supporting efforts to address early childhood quality of life factors.
Operating model
- Revenue model
- Donor-supported. 73% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 74% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filed totals do not add up.
Rating breakdown
- Financial Efficiency: 85
- Transparency & Controls: 68
- Accountability: 100
- Sustainability: 86
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 83.7%; rating input score 84
- Program expense ratio: 87.3%; rating input score 87
- Fundraising efficiency: $120.48 raised per $1 spent on fundraising; rating input score 86; 86th percentile among comparable filings
Transparency & Controls
- Consistency checks: 86.7%; rating input score 87; 1st percentile among comparable filings
- Pay-setting controls: 3 of 6 controls in place; rating input score 50
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 98.1%; rating input score 98; 29th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 25.7%; rating input score 86; 86th percentile among comparable filings
- Total-asset coverage ratio: 11.87; rating input score 92; 92nd percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 94; 94th percentile among comparable filings
- Officer compensation ratio: 3.5%; rating input score 64; 64th percentile among comparable filings
Growth
- Program expense growth: 6% per year; rating input score 100; 49th percentile among comparable filings
- Revenue growth: 7.5% per year; rating input score 100; 62nd percentile among comparable filings
- Asset growth: 6.7% per year; rating input score 100; 47th percentile among comparable filings
Details
- Where the money goes: 83.7% of revenue deployed · 87.3% of spending went to programs
- Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $10.9M in reported program spending
- Leadership: top reported pay $258K · 13 people listed · 3 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $317K reported
- Consistency: 34 of 36 current checks pass · 2 findings to review
- Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 15 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 100 filed money-flow records
- Related organizations: 102 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.