The Waco Foundation performs the unique service of maintaining a variety of funds, which support various causes.

The Foundation provides professional financial management, oversight from the board, and administration from staff. The assets are managed by five money managers under the direction of the board and executive director. The funds are currently held at Community Bank with proposals from other banks periodically solicited and reviewed.

The Foundation offers a wide variety of fund options to meet the varied needs of individual, family, business, and institutional donors. Executive Director Ashley Allison is available to discuss the process of setting up a fund at the Waco Foundation. She may be contacted at a.allison@wacofoundation.org or 254-754-3404.

Discretionary Funds
Discretionary Funds allow the donor to create a fund that meets a community’s changing needs, supports innovative solutions to problems, and enhances the quality of life. No restrictions are placed on how these funds can be used, leaving their most effective charitable application to the Foundation’s Board of Trustees.

Field of Interest Funds
Field of Interest Funds allow philanthropists to identify areas of interest that mean the most to them such as education, the arts, and social services. The donor relies on the Foundation’s Board of Trustees to identify organizations capable of making the greatest impact in the specific area.

Donor Advised Funds
Advised Funds offer philanthropists maximum flexibility over their charitable distributions. Donors can make distribution recommendations throughout
the year to various qualified charities of their choice.

Designated Funds
Designated Funds provide an ongoing source of support for a specific charitable organization named by the donor when the fund is established. Agency endowment designated funds are often created by an agency to provide a perpetual income stream for their own operations and programs.
Such funds are typically established with an agency placing all or part of its endowment in the fund.

Scholarship Funds
Scholarship Funds are dedicated to providing financial assistance for individuals as they seek to continue their education. Upon creation of the fund, the donor may set up specific criteria for the scholarship such as financial need, academic achievement, a particular field of study, or a specific institution.