Waco Foundation offers several fund types to promote local philanthropy and serve the nonprofit sector.

The Foundation is dedicated to providing proper stewardship, prudent investment, consistent growth and regular distributions to meet the charitable intentions set forth by our donors. All funds are managed as component funds of Waco Foundation with the oversight of the Foundation's Board of Trustees and Investment Policy.

Funds for the Common Good

Waco Foundation Unrestricted Fund:

This is a discretionary fund that serves as the main source of funding for our competitive grant cycle. This fund allows the Foundation to meet the community’s changing needs, support innovative solutions to problems and enhance the quality of life in Waco and McLennan County.

Field of Interest Fund:

Field of interest funds allow donors to identify areas of interest that mean the most to them. Examples include education, the arts and social services. The donor relies on Waco Foundation’s Board of Trustees to identify organizations capable of making the greatest impact in the field they have chosen.

MAC Scholarship Fund:

This fund is dedicated to providing scholarships for 3rd and 4th year college students through the MAC College Money Program.

Designated Funds

Agency Endowment:

Contributions are held as an endowment and income is distributed to the designated agency or purpose in perpetuity.

Agency Reserve:

Contributions are typically held as a long-term fund. The income and the corpus are available for distribution.

Designated Purpose:

All contributions are typically distributed for a designated purpose. The fund is not permanent and is usually closed once all funds are distributed.

Donor Advised Funds

This type of fund provides philanthropists maximum flexibility over their charitable distributions by allowing donors to make distribution recommendations throughout the year to various qualified charities of their choice.

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.