Governance & Policy

Effective stewardship of assets is essential to Waco Foundation’s ability to fulfill its mission of building philanthropic funds in service to the community.

Governance of Investments

The Investment Committee of the Board of Trustees oversees Waco Foundation’s investments. This Committee consists of professionals trained in financial analysis and investment practices. It is the responsibility of the Committee to help the Board of Trustees ensure that Waco Foundation’s investments secure its future prosperity. The Committee’s goal is to ensure a steady stream of income to allow our discretionary funds to distribute 5% of the total fund balance each year without decreasing the purchasing power over time. This is achieved with a carefully designed, diverse asset allocation strategy which includes both active and passive investment management and a balanced approach to managing risk and return.

Waco Foundation’s investments are managed with the advice of Colonial Consulting, LLC; a firm hired in December of 2007 after an extensive national search. Colonial was ultimately chosen due to their extensive experience in managing other community foundations' assets. Colonial provides guidance in the selection and monitoring of Waco Foundation’s investments. Colonial is paid strictly on a fee basis, and does not receive any compensation from the managers with which the foundation invests its assets. Read Colonial Consulting's note to Waco Foundation donors about their organization's vision, mission and values.

Investment Committee members include:

  • Malcolm Duncan, Jr. - Chair
  • Sam Allison
  • Steve Cates
  • Cara Chase
  • Kyle Deaver
  • Monte Hulse
  • David Dickson
  • Bill Pakis
  • Brian Webb

Investment Fees

Waco Foundation charges funds up to 100 basis points (or 1%) annually (.25% community service fee and between 0.4% and 0.8% for investment fees).  One-fourth of this fee is charged quarterly, based on the fund’s quarter-ending market balance.  This charge does not support all of the costs of the investment and administration of the funds, so Waco Foundation subsidizes the fees and administration through the Foundaitn's Unrestricted Fund.  These fees are supported with the intention of passing the potential earnings on to charitable causes in the community.

Spending Policy

Waco Foundation has established a spending policy to simplify the process of grantmaking each cycle. This spending policy designates up to 5% of total assets, as determined on a 28-trailing quarter period, for grant making. This policy applies to both Waco Foundation’s Unrestricted Fund and the component funds under the Foundation's management.
Contact

Phone: 254-754-3404
Fax: 254-753-2887

Location

1227 N. Valley Mills Drive
Suite 235
Waco, TX 76710
Directions

Email Updates