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
82 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
15 people listed on the 990; $269K 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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Waco Foundation Operating Fund
This fund is the organization's primary competitive grantmaking fund, providing grants to nonprofits that serve mclennan county residents, along with other funds (discretionary and selected field of interest funds) that support our competitive grant program.
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.
Duncan Scholars Program
This fund will take the place of the mac college money program and serves as an enhanced effort to increase college completion rates while eliminating student debt. Qualifying students graduating from waco high and university high schools are invited to participate in duncan scholars.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2024 990, line by line.
Download 990
| Line | Start FY24 | End FY24 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.7M | $2.5M |
| InvestmentsLn 11–13 | $124.6M | $136.7M |
| Land, buildings, equipmentLn 10c | $3K | $2K |
| Total assetsLn 16 | $127.5M | $142.3M |
| LiabilitiesLn 26 | $1.2M | $780K |
| Net assetsLn 32 | $126.4M | $141.5M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $4.1M | $4.1M | ||
| Grants to domestic individualsLn 2 | $176K | $176K | ||
| Pay of current officers, directors and key staffLn 5 | $281K | $107K | $161K | $12K |
| Other salaries and wagesLn 7 | $765K | $391K | $351K | $23K |
| Pension plan contributionsLn 8 | $64K | $33K | $28K | $2K |
| Other employee benefitsLn 9 | $50K | $18K | $31K | |
| Payroll taxesLn 10 | $72K | $33K | $36K | $3K |
| Legal feesLn 11b | $4K | $4K | ||
| Accounting feesLn 11c | $59K | $5K | $54K | $113 |
| Investment management feesLn 11f | $290K | $4K | $286K | |
| Other fees for servicesLn 11g | $542K | $505K | $37K | |
| Advertising and promotionLn 12 | $50K | $3K | $43K | $4K |
| Office expensesLn 13 | $57K | $21K | $28K | $8K |
| Information technologyLn 14 | $119K | $45K | $73K | |
| OccupancyLn 16 | $106K | $39K | $68K | |
| TravelLn 17 | $14K | $7K | $7K | |
| Conferences, conventions and meetingsLn 19 | $61K | $34K | $27K | |
| Depreciation, depletion and amortizationLn 22 | $1K | $1K | ||
| InsuranceLn 23 | $12K | $5K | $7K | |
| Other expenses (24a–d)Ln 24 | $354K | $320K | $35K | |
| Total functional expensesLn 25 | $7.2M | $5.9M | $1.3M | $52K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $16.8M | $12.5M | $4.3M | $147.6M | 990 PDF |
| FY2024 Viewing | $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 FY2024 990 (6 parts)
Part I · Summary $8,580,319 revenue, 12 lines filed
Part VI · Governance 12 of 12 board members independent, no flags
Part VIII · Statement of revenue $8,580,319 across 7 lines filed
Part IX · Statement of functional expenses $7,200,164 across 20 lines filed
Part X · Balance sheet $142,304,864 assets, 15 lines filed
Part XI · Reconciliation of net assets $141,524,944 net assets at year end
Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File
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