Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 1963.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
87 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
13 people listed on the 990; $396K paid to officers and key staff.
Ashley Allison’s $228K as Executive Director is at the 48th percentile of top reported officer pay among 661 $10–100M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Ashley Allison | $228,250 | $213,251 | $196,502 | — | — | — |
| Ashley Allison Dulski | — | — | — | $180,152 | — | — |
| Ashley Dulski | — | — | — | — | $176,552 | $176,247 |
| Isabel Weeden | $167,499 | — | — | — | — | — |
| Martha Stuhr | — | — | $66,976 | $80,907 | $28,021 | — |
| Leslie Mitchell | — | — | — | — | $53,964 | $73,541 |
| Valerie Holland | — | $56,243 | — | — | — | — |
| Tangela Penny | — | — | $29,188 | — | — | — |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Stewards philanthropic resources and awards grants to local nonprofits and community initiatives to improve the quality of life for residents in McLennan County, Texas.
Questions for Waco Foundation
Your first name shows with your question. Waco Foundation answers here, for everyone.
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This includes all other funds owned and managed by waco foundation - 269 designated, donor advised, scholarship, field of interest and discretionary funds.
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.
Waco Foundation Operating Fund
This fund is the organization's primary competitive grantmaking fund, providing grants to nonprofits that servce mclennan county residents, along with other funds (discretionary and selected field of interest funds) that support our competitive grant program.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.5M | $12.8M |
| InvestmentsLn 11–13 | $136.7M | $133.7M |
| Land, buildings, equipmentLn 10c | $2K | $83K |
| Total assetsLn 16 | $142.3M | $148.4M |
| LiabilitiesLn 26 | $780K | $827K |
| Net assetsLn 32 | $141.5M | $147.6M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $8.0M | $8.0M | ||
| Grants to domestic individualsLn 2 | $175K | $175K | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | |||
| Benefits paid to or for membersLn 4 | $0 | |||
| Pay of current officers, directors and key staffLn 5 | $428K | $104K | $312K | $12K |
| Pay of disqualified personsLn 6 | $0 | |||
| Other salaries and wagesLn 7 | $1.3M | $857K | $371K | $27K |
| Pension plan contributionsLn 8 | $94K | $43K | $48K | $4K |
| Other employee benefitsLn 9 | $82K | $45K | $35K | $2K |
| Payroll taxesLn 10 | $132K | $75K | $53K | $3K |
| Management feesLn 11a | $0 | |||
| Legal feesLn 11b | $9K | $3K | $5K | |
| Accounting feesLn 11c | $55K | $6K | $49K | $139 |
| Lobbying feesLn 11d | $0 | |||
| Professional fundraising feesLn 11e | $0 | |||
| Investment management feesLn 11f | $335K | $335K | ||
| Other fees for servicesLn 11g | $757K | $745K | $12K | |
| Advertising and promotionLn 12 | $62K | $21K | $41K | |
| Office expensesLn 13 | $49K | $16K | $27K | $6K |
| Information technologyLn 14 | $156K | $94K | $62K | |
| RoyaltiesLn 15 | $0 | |||
| OccupancyLn 16 | $123K | $49K | $75K | |
| TravelLn 17 | $55K | $39K | $17K | |
| Travel and entertainment for public officialsLn 18 | $0 | |||
| Conferences, conventions and meetingsLn 19 | $77K | $51K | $26K | |
| InterestLn 20 | $0 | |||
| Payments to affiliatesLn 21 | $0 | |||
| Depreciation, depletion and amortizationLn 22 | $3K | $210 | $3K | |
| InsuranceLn 23 | $13K | $3K | $10K | |
| Other expenses (24a–d)Ln 24 | $690K | $635K | $20K | $34K |
| All other expensesLn 24e | $0 | |||
| Total functional expensesLn 25 | $12.5M | $10.9M | $1.5M | $87K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $16.8M | $12.5M | $4.3M | $147.6M | 990 PDF |
| FY2024 | $8.6M | $7.2M | $1.4M | $141.5M | 990 PDF |
| FY2023 | $11.8M | $7.5M | $4.2M | $126.4M | 990 PDF |
| FY2022 | $26.5M | $7.2M | $19.2M | $131.8M | 990 PDF |
| FY2021 | $8.9M | $6.8M | $2.2M | $115.5M | 990 PDF |
| FY2020 | $20.3M | $8.5M | $11.8M | $87.3M | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $16,820,955 revenue, 12 lines filed
Part VI · Governance 11 of 11 board members independent, no flags
Part VIII · Statement of revenue $16,820,955 across 11 lines filed
Part IX · Statement of functional expenses $12,499,829 across 31 lines filed
Part X · Balance sheet $148,387,558 assets, 20 lines filed
Part XI · Reconciliation of net assets $147,560,704 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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