Waco Foundation’s mission is simple, powerful and steadfast: to promote solutions to community challenges, strengthen local nonprofits, engage philanthropists, and manage charitable assets to improve life for everyone in McLennan County. While our strategies may shift over time, our commitment to Waco remains unwavering. We are here, for today and for generations to come.
Over the past year, the Foundation invested $8.1 million into the community through grants and scholarships and are honored to steward over $150 million in charitable assets on behalf of the Waco community. With this responsibility comes a deep commitment to ensuring each dollar supports initiatives that create meaningful, lasting impact. Thanks to strong community support and thoughtful leadership, we continue to grow in both purpose and capacity.
One of our proudest new efforts is the Forever Fund, launched last year to encourage charitable giving among the next generation of Wacoans. This member-driven initiative combines $250 annual household memberships with fundraising through a signature concert event. In its first year, the Forever Fund awarded more than $37,000 to Transformation Waco, and we’re just getting started.
Another initiative showing incredible promise is Duncan Scholars, formerly the MAC Program. Now in its third year, Duncan Scholars is designed to increase college completion rates for local students through financial support and personalized guidance, and currently boasts retention rates nearly 20% higher than the state average. We’re also making exciting strides with our headquarters at 1224 Austin Avenue, now named The Avenue Nonprofit Center. This space is evolving into a collaborative nonprofit center with office, meeting and event space, and centralized resources for local charities.
All of this is just a glimpse into the work happening every day. Our ability to serve is made possible by the ongoing support from donors both past and present. Thank you for being part of this journey. Together, we are building a stronger, more vibrant community.
For Waco. Forever.
Chris McSwain, Board Chair
Ashley Allison, Executive Director
Waco Foundation promotes solutions to community challenges, strengthens nonprofits, engages philanthropists and manages charitable assets to improve quality of life in our community.
Waco Foundation drives community change by striving to transform key institutions, ensuring a high quality of life for all our residents. We seek to innovate Waco’s economy and civic infrastructure so that it can:
Address the greatest barriers to prosperity for all
Be inclusive of the full community
Attract and enable the best and brightest in service of Waco’s future
Build capacity within community leadership for collaborative
work to address our most pressing problems
“Greater Waco Legal Services is excited to call The Avenue Nonprofit Center our new home. The opportunity to collaborate and innovate with other nonprofits as part of our office space gives us an added layer of support so we can continue our work of providing affordable legal services for our community.”
–Kent McKeever,
Founder and Executive Director
Now in its third year, Waco Foundation’s Duncan Scholars program continues to drive transformational change in Waco by combining financial aid with personalized academic and career support. Through partnerships with McLennan Community College, Texas Tech, Tarleton State, and Baylor University, Duncan Scholars empowers local students to achieve a college degree while avoiding burdensome student debt.
With a student-first approach, Duncan Scholars is closing gaps in college success. The program promises not just degrees, but meaningful pathways to thriving, fulfilling careers right here in Waco.
Waco Foundation proudly launched The Avenue Nonprofit Center to serve as the administrative offices of the Foundation and a collaborative nonprofit center with office, meeting and event space, and centralized resources for local charities.
Each year, the Foundation invests millions into the community through grants, scholarships, and targeted programming, last year reaching more than $8 million. The Avenue Nonprofit Center is one more way for Waco Foundation to invest in the local nonprofit sector. Collaboration is key to nonprofit success in our community, and the idea of The Avenue is to provide daily opportunities for local organizations to interact, share ideas and coordinate efforts.
The first floor of The Avenue is envisioned as a welcoming, flexible space that weaves in the history of Waco through the design. From a custom Suspension Bridge chandelier to a thought-provoking map display and pebbles from the Brazos River in the floor tiles, the Foundation is committed to celebrating Waco’s unique nature throughout the building.
The Avenue Nonprofit Center isn’t just a building, it’s a movement. A place where ideas take shape, partnerships flourish, and solutions to Waco’s greatest challenges are created.
“Better at Last is working hard to keep older adults strong, active, connected, and protected by offering free and active weekly workshops, monthly seminars, and annual conferences to better educate and empower older adults on all topics related to healthy aging. We are expert led, current evidence based, and actively engaged with neighbors all across McLennan County to give older adults the information and resources to age well and with purpose. Waco Foundation’s generous support gives us the ability to reach further, connect deeper, and run this race with endurance.”
–Teresa Gingles, PT, DPT
Executive Director
Grantmaking is a cornerstone of Waco Foundation’s work to enhance quality of life in McLennan County. Through competitive and strategic funding opportunities, Waco Foundation partners with nonprofit organizations located in and serving our community, supporting those on the front lines providing the vital services Wacoans need.
All grantmaking decisions are made with a single guiding principle: to fund work that meaningfully improves the lives of McLennan County residents.
Types of Grants Offered
• Program & Operating Support Grants
• Capital Expense Grants (Small & Large)
• Immediate Impact Grants
• Critical Needs Grants
Together, these grant programs ensure Waco Foundation remains an inclusive, responsive, and forward-thinking resource for our local nonprofit sector.
Waco Foundation’s commitment to equitable grantmaking has led to the creation of the Ambassador Program, a new initiative designed to connect the Foundation with equity-focused nonprofits that have historically operated without significant institutional support.
Too often, these deeply community-rooted organizations face barriers such as limited funding, small or unpaid staff, and lack of access to capacity building resources. As a result, they may not meet traditional expectations of grant readiness, not due to lack of impact, but due to lack of opportunity. The Ambassador Program seeks to change that.
Through a network of trusted community ambassadors, the Foundation is strengthening outreach and engagement with organizations we might otherwise miss. These ambassadors share information about funding and support resources, offer candid feedback, and connect us with nonprofit leaders doing high-impact, community-based work.
This effort is not only about equity, it’s about effectiveness. When we invest in leadership with deep community ties, we invest in solutions that are more inclusive, resilient, and impactful. The Ambassador Program is helping us get there, one relationship at a time.
“Waco Foundation’s partnership in facilitating a planned gift from Dr. George Jurek for the benefit of our new health center and dental clinic highlights the Foundation’s commitment to stewarding our community’s charitable assets. From connecting donors to causes they care about, to managing legacy gifts from start to finish, Waco Foundation plays a key role in sustaining the local nonprofits Waco depends on.”
– Jackson Griggs, MD, FAAFP,
Chief Executive Officer, Waco Family Medicine
Launched in March 2024, the Forever Fund is a dynamic giving circle led by young Wacoans who are passionate about building a culture of philanthropy and giving back to their community. Forever Fund brings together members who contribute $250 per household annually, pooling their support with proceeds from an exciting and unique concert event. Every dollar raised is awarded directly to a local nonprofit, turning small individual contributions into incredible community impact.
In its first year, the Forever Fund granted more than $37,000 to Transformation Waco, supporting critical work
in education and community development. The Forever Fund is already making waves as a new force in local
philanthropy, proving that when community comes together, even in small ways, it creates lasting change for Waco.
Waco Foundation’s Pie Society celebrates generous individuals who have chosen to leave a portion of their estate, or a piece of their pie, to charity. Pie Society membership is open to anyone who has included a local nonprofit in their will, trust, or beneficiary designation, no matter the size. Planned gifts reflect a deep commitment to Waco’s future and a belief in giving back, ensuring our community continues to thrive for generations to come.
Waco Foundation is honored to highlight the power of planned giving through two recent gifts to the Foundation. Thomas Stribling, a lifelong Wacoan, left a $3.3 million bequest to Waco Foundation. His gift now supports community engagement activities and programs for Waco Police Department, Duncan Scholars scholarships, and the vibrant nonprofit ecosystem through the Stribling Suites on the second floor of The Avenue Nonprofit Center.
Likewise, Martha and Tom Salome left an unrestricted $1 million estate gift, funding the Salome Suites on the third floor of the Avenue Nonprofit Center and two endowed scholarships for Duncan Scholars. Their gift reflects a shared passion for service, education, and uplifting local nonprofits. These gifts are more than generous, they’re transformative. If you’ve already included a nonprofit in your estate plans, you’re part of the Pie Society and we would love to hear from you. If you want to learn more or discuss how your estate can be used to support the local nonprofits you care most about, visit wacofoundation.org.
“Waco Foundation’s stewardship and prudent management of the Tom Stribling Fund for Waco Police Officers provides sustained support for our community engagement activities that are designed to strengthen relationships with community members and improve public safety.”
– Chief Sheryl Victorian,
Waco Police Department
A key element of Waco Foundation’s mission is managing the community’s charitable assets to ensure lasting support for local nonprofits. To achieve this, the Foundation’s Board and Investment Committee work closely with Neuberger Berman to implement an investment strategy focused on long-term growth with managed risk. The Foundation aims to generate returns of 5% plus the rate of inflation over time, providing a reliable source of annual funding for donors and nonprofit organizations to continue their vital work.