Civic Intelligence

Waco Industrial Foundation

EIN 74-1384272 • 501(c)6 • Waco, TX

Profile

Further eco dev in waco, tx area

P O Box 1220Waco, TX 76703

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

21st percentile

0.09x

Higher debt load relative to assets than 21% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Source year 2024

Liabilities / Revenue

57th percentile

0.52x

Higher debt load relative to revenue than 57% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Source year 2024

Net Margin

99th percentile

93%

Higher net margin than 99% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

14th percentile

-4.1%

Faster asset growth than 14% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Revenue Growth

4th percentile

-27%

Faster revenue growth than 4% of similar nonprofits.

501(c)6 • $50M-$100M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets21st percentile

Assets

Down

$69,885,529

Down $2,962,126 (-4.1%) from 2023

Liabilities

Down

$6,220,441

Down $14,015,080 (-69%) from 2023

Net Assets

Up

$63,665,088

Up $11,052,954 (+21%) from 2023

Operations
Liabilities / Revenue57th percentileNet Margin99th percentile

Revenue

Down

$11,867,771

Down $4,292,655 (-27%) from 2023

Expenses

Up

$814,817

Up $416,032 (+104%) from 2023

Net Income

Down

$11,052,954

Down $4,708,687 (-30%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth14th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$80M$60M$40M$20M$0Assets 2011: $23,698,989Liabilities 2011: $1,795,624Net Assets 2011: $21,903,3652011Assets 2012: $21,991,149Liabilities 2012: $336,857Net Assets 2012: $21,654,2922012Assets 2013: $28,298,298Liabilities 2013: $6,981,409Net Assets 2013: $21,316,8892013Assets 2014: $27,890,828Liabilities 2014: $6,867,329Net Assets 2014: $21,023,4992014Assets 2015: $28,271,959Liabilities 2015: $6,723,031Net Assets 2015: $21,548,9282015Assets 2016: $30,434,203Liabilities 2016: $6,775,689Net Assets 2016: $23,658,5142016Assets 2017: $30,801,798Liabilities 2017: $6,671,513Net Assets 2017: $24,130,2852017Assets 2018: $31,760,558Liabilities 2018: $6,638,823Net Assets 2018: $25,121,7352018Assets 2019: $31,997,127Liabilities 2019: $6,721,957Net Assets 2019: $25,275,1702019Assets 2020: $39,494,673Liabilities 2020: $7,449,130Net Assets 2020: $32,045,5432020Assets 2021: $35,905,694Liabilities 2021: $541,744Net Assets 2021: $35,363,9502021Assets 2022: $38,358,817Liabilities 2022: $1,508,324Net Assets 2022: $36,850,4932022Assets 2023: $72,847,655Liabilities 2023: $20,235,521Net Assets 2023: $52,612,1342023Assets 2024: $69,885,529Liabilities 2024: $6,220,441Net Assets 2024: $63,665,0882024

Highlighted filing

2024

Assets$69,885,529
Liabilities$6,220,441
Net Assets$63,665,088
Open 2024 Filing

Operations Trend

Revenue Growth4th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$20M$15M$10M$5.0M$0-$5.0MRevenue 2011: $776,774Expenses 2011: $430,007Net Income 2011: $346,7672011Revenue 2012: $191,687Expenses 2012: $440,760Net Income 2012: -$249,0732012Revenue 2013: $242,675Expenses 2013: $580,078Net Income 2013: -$337,4032013Revenue 2014: $232,159Expenses 2014: $525,549Net Income 2014: -$293,3902014Revenue 2015: $938,376Expenses 2015: $412,946Net Income 2015: $525,4302015Revenue 2016: $2,505,272Expenses 2016: $395,688Net Income 2016: $2,109,5842016Revenue 2017: $845,900Expenses 2017: $374,129Net Income 2017: $471,7712017Revenue 2018: $1,439,586Expenses 2018: $448,136Net Income 2018: $991,4502018Revenue 2019: $544,895Expenses 2019: $391,460Net Income 2019: $153,4352019Revenue 2020: $7,829,338Expenses 2020: $1,058,966Net Income 2020: $6,770,3722020Revenue 2021: $3,663,149Expenses 2021: $344,740Net Income 2021: $3,318,4092021Revenue 2022: $1,900,799Expenses 2022: $394,257Net Income 2022: $1,506,5422022Revenue 2023: $16,160,426Expenses 2023: $398,785Net Income 2023: $15,761,6412023Revenue 2024: $11,867,771Expenses 2024: $814,817Net Income 2024: $11,052,9542024

Highlighted filing

2024

Revenue$11,867,771
Expenses$814,817
Net Income$11,052,954
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$69,885,529
Liabilities
$6,220,441
Net assets
$63,665,088
Revenue
$11,867,771
Expenses
$814,817
Net income
$11,052,954
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$69.9$6.22$63.7$11.9$0.81$11.1
2023Detailed filing. Detailed filing data is available for this year.$72.8$20.2$52.6$16.2$0.40$15.8
2022Detailed filing. Detailed filing data is available for this year.$38.4$1.51$36.9$1.90$0.39$1.51
2021Detailed filing. Detailed filing data is available for this year.$35.9$0.54$35.4$3.66$0.34$3.32
2020Detailed filing. Detailed filing data is available for this year.$39.5$7.45$32.0$7.83$1.06$6.77
2019Detailed filing. Detailed filing data is available for this year.$32.0$6.72$25.3$0.54$0.39$0.15
2018Detailed filing. Detailed filing data is available for this year.$31.8$6.64$25.1$1.44$0.45$0.99
2017Detailed filing. Detailed filing data is available for this year.$30.8$6.67$24.1$0.85$0.37$0.47
2016Detailed filing. Detailed filing data is available for this year.$30.4$6.78$23.7$2.51$0.40$2.11
2015Detailed filing. Detailed filing data is available for this year.$28.3$6.72$21.5$0.94$0.41$0.53
2014Summary only. Only limited summary data is available for this year.$27.9$6.87$21.0$0.23$0.53$0.29
2013Summary only. Only limited summary data is available for this year.$28.3$6.98$21.3$0.24$0.58$0.34
2012Summary only. Only limited summary data is available for this year.$22.0$0.34$21.7$0.19$0.44$0.25
2011Summary only. Only limited summary data is available for this year.$23.7$1.80$21.9$0.78$0.43$0.35
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Jun 24, 2025
Return Version
2024v5.2
Gross Receipts
$16,801,842
Mission and Program Overview

Mission

Further eco dev in waco, tx area

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$48,147,945$52,506,591▲ $4,358,646
Savings and Temporary Cash Investments$20,751,096$12,109,280▼ $8,641,816
Other Notes and Loans Receivable, Net$3,352,881$3,471,251▲ $118,370
Cash and Non-Interest-Bearing Accounts$279,884$1,533,622▲ $1,253,738
Prepaid Expenses and Deferred Charges$295,980$262,518▼ $33,462
Land, Buildings, and Equipment, Net$9,869$2,267▼ $7,602
Total Assets$72,847,655$69,885,529▼ $2,962,126
Other Assets Total$10,000--
Liabilities
Accounts Payable and Accrued Expenses$20,032,655$6,120,966▼ $13,911,689
Other Liabilities$195,819$99,475▼ $96,344
Deferred Revenue$7,047--
Total Liabilities$20,235,521$6,220,441▼ $14,015,080
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$52,612,134$63,665,088▲ $11,052,954
Total Net Assets Fund Balance$52,612,134$63,665,088▲ $11,052,954
Total Liabilities and Net Assets / Fund Balance$72,847,655$69,885,529▼ $2,962,126

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,267$368,773$371,040
Land$0--
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
David LacyPresident
Jennifer ManningPresident Elect
Joseph NesbittVice President
Bill CliftonMember
Carolyn HaferkampMember
Louis EnglanderMember
Philip PattersonMember
Sarah RobertsTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$790,244
Other Revenue
$11,077,527
Change in Net Assets
$11,052,954

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,867,771
Total Revenue per Audited Statements
$11,867,771
Total Revenue per Form 990
$11,867,771
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$814,817
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$0$0$0$291,641
Other Expenses$0$0$0$103,613
Fees for Services Legal$0$0$0$56,363
All Other Expenses$0$0$0$33,894
Fees for Services Accounting$0$0$0$27,320
Insurance$0$0$0$8,473
Depreciation Depletion$0$0$0$7,602
Total Functional Expenses$0$0$0$814,817

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$814,817
Total Expenses per Audited Statements$814,817
Total Expenses per Form 990$814,817
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Contribution Payable$99,475
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Waco Industrial Foundation
EIN
74-1384272
Phone
2547575609
Address
P O BOX 1220, WACO, TX 76703

Signing Officer

Name
Matthew Meadors
Title
Executive Director
Phone
2547575609
Signed
2025-06-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Matthew Meadors
Formed
1957
Legal Domicile
TX
Voting Board Members
8
Independent Board Members
8
Employees
0
Volunteers
30

Preparer

Firm
Vernon R King Jr Pc
Address
PO BOX 21023, WACO, TX 76702
Preparer
Vernon King
Phone
2547760515
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

“Board given copy at meeting prior to filing”

Pt VI, Line 15B

“No salaries”

Pt VI, Line 12C

“Board polled annually for conflicts”

Pt VI, Line 6

“Members”

Pt VI, Line 7A

“Executive Committee is elected”

Pt VI, Line 7B

“Full membership approves executive committee actions”

Pt VI, Line 15A

“No salaries”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherExpensesGrp/TotalAmt3103613
IRS990/OtherLiabilitiesGrp/BOYAmt0195819
IRS990/OtherLiabilitiesGrp/EOYAmt099475
IRS990/OtherRevenueTotalAmt010685
IRS990/OthNotesLoansReceivableNetGrp/BOYAmt03352881
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt03471251
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0295980
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0262518
IRS990/PrincipalOfficerNm0Matthew Meadors
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYInvestmentIncomeAmt0759846
IRS990/PYOtherExpensesAmt0398785
IRS990/PYOtherRevenueAmt015400580
IRS990/PYRevenuesLessExpensesAmt015761641
IRS990/PYTotalExpensesAmt0398785
IRS990/PYTotalRevenueAmt016160426
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt011052954
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/RealAmt0276329
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/SavingsAndTempCashInvstGrp/BOYAmt020751096
IRS990/SavingsAndTempCashInvstGrp/EOYAmt012109280
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/ExpensesSubtotalAmt0814817
IRS990ScheduleD/LandGrp/BookValueAmt00
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt02267
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0368773
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0371040
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt099475
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CONTRIBUTION PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt011867771
IRS990ScheduleD/TotalBookValueLandBuildingsAmt02267
IRS990ScheduleD/TotalExpensesPerForm990Amt0814817
IRS990ScheduleD/TotalLiabilityAmt099475
IRS990ScheduleD/TotalRevenuePerForm990Amt011867771
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt011867771
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0814817
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Board given copy at meeting prior to filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No salaries
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Board polled annually for conflicts
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Members
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Executive Committee is elected
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Full membership approves executive committee actions
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6No salaries
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Pt VI, Line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Pt VI, Line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Pt VI, Line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Pt VI, Line 15a
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt072847655
IRS990/TotalAssetsEOYAmt069885529
IRS990/TotalAssetsGrp/BOYAmt072847655
IRS990/TotalAssetsGrp/EOYAmt069885529
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0814817
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt020235521
IRS990/TotalLiabilitiesEOYAmt06220441
IRS990/TotalLiabilitiesGrp/BOYAmt020235521
IRS990/TotalLiabilitiesGrp/EOYAmt06220441
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt052612134
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt063665088
IRS990/TotalRevenueGrp/ExclusionAmt0790244
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011077527
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt011867771
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt030
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt072847655
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt069885529
IRS990/TransactionWithControlEntInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0P O Box 1220
IRS990/USAddress/CityNm0WACO
IRS990/USAddress/StateAbbreviationCd0TX
IRS990/USAddress/ZIPCd076703
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Matthew Meadors
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum02547575609
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-06-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WACO INDUSTRIAL FOUNDATION
ReturnHeader/Filer/BusinessNameControlTxt0WACO
ReturnHeader/Filer/EIN0741384272
ReturnHeader/Filer/PhoneNum02547575609
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 1220
ReturnHeader/Filer/USAddress/CityNm0WACO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd076703
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0742418387
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0VERNON R KING JR PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0PO BOX 21023
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WACO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TX
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd076702
ReturnHeader/PreparerPersonGrp/PhoneNum02547760515
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Vernon King
ReturnHeader/ReturnTs02025-06-24T12:33:44-07:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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