Waco Industrial Foundation

Waco, TX
Tax-exempt since Aug. 1959
EIN: 74-1384272

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Type of Nonprofit

Designated as a 501(c)(6) Business leagues, chambers of commerce, real estate boards, etc, created for the improvement of business conditions.

Donations to this organization are not tax deductible.

Revenue

$11.9M (2024)

Expenses

$815k (2024)

Total Assets

$69.9M (2024)

Total Liabilities

$6.22M (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$11,867,771

Expenses

$814,817

Net Income

$11,052,954

Net Assets

$63,665,088

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$790,244	6.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$276,329	2.3%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$10,790,513	90.9%
Other Revenue	$10,685	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$69,885,529
Total Liabilities	$6,220,441
Net Assets	$63,665,088

Compensation

Key Employees and Officers	Compensation	Related	Other
Sarah Roberts (Treasurer)	$0	$0	$0
Joseph Nesbitt (Vice President)	$0	$0	$0
Jennifer Manning (President Elect)	$0	$0	$0
David Lacy (President)	$0	$0	$0
Philip Patterson (Member)	$0	$0	$0
Bill Clifton (Member)	$0	$0	$0
Louis Englander (Member)	$0	$0	$0
Carolyn Haferkamp (Member)	$0	$0	$0

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990

Filed on June 24, 2025

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2023

Revenue

$16,160,426

Expenses

$398,785

Net Income

$15,761,641

Net Assets

$52,612,134

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$759,846	4.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$232,036	1.4%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$15,168,044	93.9%
Other Revenue	$500	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$72,847,655
Total Liabilities	$20,235,521
Net Assets	$52,612,134

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Brophy (Member)	$0	$0	$0
Joseph Nesbitt (Treasurer)	$0	$0	$0
Jennifer Manning (Vice President)	$0	$0	$0
David Lacy (President Elect)	$0	$0	$0
Philip Patterson (President)	$0	$0	$0
Bill Clifton (Member)	$0	$0	$0

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990

Filed on Aug. 28, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$1,900,799

Expenses

$394,257

Net Income

$1,506,542

Net Assets

$36,850,493

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$82,477	4.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$237,378	12.5%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$1,579,944	83.1%
Other Revenue	$1,000	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$38,358,817
Total Liabilities	$1,508,324
Net Assets	$36,850,493

Compensation

Key Employees and Officers	Compensation	Related	Other
Rick Brophy (Past President)	$0	$0	$0
Joseph Nesbitt (Treasurer)	$0	$0	$0
Jennifer Manning (Vice President)	$0	$0	$0
David Lacy (President Elect)	$0	$0	$0
Philip Patterson (President)	$0	$0	$0
Bill Clifton (Member)	$0	$0	$0
Louis Englander (Member)	$0	$0	$0

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990

Filed on July 6, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2021

Revenue

$3,663,149

Expenses

$344,740

Net Income

$3,318,409

Net Assets

$35,363,950

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$66,303	1.8%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$242,774	6.6%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$3,351,572	91.5%
Other Revenue	$2,500	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$35,905,694
Total Liabilities	$541,744
Net Assets	$35,363,950

Compensation

Key Employees and Officers	Compensation	Related	Other
Rodney Kroll (Past President)	$0	$0	$0
Rick Brophy (President Elect)	$0	$0	$0
Wes Bailey (Vice President)	$0	$0	$0
David Lacy (Vice President)	$0	$0	$0
Philip Patterson (Treasurer)	$0	$0	$0

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990

Filed on June 23, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2020

Revenue

$7,829,338

Expenses

$1,058,966

Net Income

$6,770,372

Net Assets

$32,045,543

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$81,032	1.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$274,225	3.5%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$7,468,064	95.4%
Other Revenue	$6,017	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$39,494,673
Total Liabilities	$7,449,130
Net Assets	$32,045,543

Compensation

Key Employees and Officers	Compensation	Related	Other
Rodney Kroll (President)	$0	$0	$0
Rick Brophy (President Elect)	$0	$0	$0
Wes Bailey (Vice President)	$0	$0	$0
David Lacy (Treasurer)	$0	$0	$0
Peter Kultgen (Past President)	$0	$0	$0

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990

Filed on May 13, 2021

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2019

Revenue

$544,895

Expenses

$391,460

Net Income

$153,435

Net Assets

$25,275,170

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$22,584	4.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$251,180	46.1%
Net Fundraising	$0
Sales of Assets	$266,291	48.9%
Net Inventory Sales	$0
Other Revenue	$4,840	0.9%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$31,997,127
Total Liabilities	$6,721,957
Net Assets	$25,275,170

Compensation

Key Employees and Officers	Compensation	Related	Other
Rodney Kroll (President)	$0	$0	$0
Rick Brophy (President Elect)	$0	$0	$0
Wes Bailey (Vice President)	$0	$0	$0
David Lacy (Treasurer)	$0	$0	$0
Peter Kultgen (Past President)	$0	$0	$0

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990

Filed on March 7, 2020

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2018

Revenue

$1,439,586

Expenses

$448,136

Net Income

$991,450

Net Assets

$25,121,735

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$16,052	1.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$225,165	15.6%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$1,194,259	83.0%
Other Revenue	$4,110	0.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$31,760,558
Total Liabilities	$6,638,823
Net Assets	$25,121,735

Compensation

Key Employees and Officers	Compensation	Related	Other
See Attached (Directors)	$0	$0	$0

990

Filed on March 23, 2019

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2017

Revenue

$845,900

Expenses

$374,129

Net Income

$471,771

Net Assets

$24,130,285

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$22,097	2.6%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$236,151	27.9%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$587,152	69.4%
Other Revenue	$500	0.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$30,801,798
Total Liabilities	$6,671,513
Net Assets	$24,130,285

Compensation

Key Employees and Officers	Compensation	Related	Other
See Attached (Directors)	$0	$0	$0

990

Filed on March 2, 2018

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$2,505,272

Expenses

$395,688

Net Income

$2,109,584

Net Assets

$23,658,514

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$11,426	0.5%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$245,456	9.8%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$2,247,890	89.7%
Other Revenue	$500	0.0%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$30,434,203
Total Liabilities	$6,775,689
Net Assets	$23,658,514

Compensation

Key Employees and Officers	Compensation	Related	Other
See Attached (Directors)	$0	$0	$0

990

Filed on March 2, 2017

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2015

Revenue

$938,376

Expenses

$412,946

Net Income

$525,430

Net Assets

$21,548,928

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$12,779	1.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$225,895	24.1%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$698,202	74.4%
Other Revenue	$1,500	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$28,271,959
Total Liabilities	$6,723,031
Net Assets	$21,548,928

Compensation

Key Employees and Officers	Compensation	Related	Other
See Attached (Directors)	$0	$0	$0

990

Filed on March 19, 2016

Primary tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2014

Revenue

$232,159

Expenses

$525,549

Net Income

-$293,390

Net Assets

$21,023,499

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$14,252	6.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$217,907	93.9%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$27,890,828
Total Liabilities	$6,867,329
Net Assets	$21,023,499

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Revenue

$242,675

Expenses

$580,078

Net Income

-$337,403

Net Assets

$21,316,889

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$17,886	7.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$188,411	77.6%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$20,107	8.3%
Other Revenue	$16,271	6.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$28,298,298
Total Liabilities	$6,981,409
Net Assets	$21,316,889

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$191,687

Expenses

$440,760

Net Income

-$249,073

Net Assets

$21,654,292

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$0
Investment Income	$27,108	14.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$164,179	85.6%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$400	0.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$21,991,149
Total Liabilities	$336,857
Net Assets	$21,654,292

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$776,774

Expenses

$430,007

Net Income

$346,767

Net Assets

$21,903,365

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$500	0.1%
Program Services	$0
Investment Income	$37,864	4.9%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$160,445	20.7%
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$577,965	74.4%
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$0
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$23,698,989
Total Liabilities	$1,795,624
Net Assets	$21,903,365

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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Updated December 22, 2025

Waco Industrial Foundation

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $11.9M (2024)

Expenses $815k (2024)

Total Assets $69.9M (2024)

Total Liabilities $6.22M (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2012

Revenue

$11.9M (2024)

Expenses

$815k (2024)

Total Assets

$69.9M (2024)

Total Liabilities

$6.22M (2024)

Fiscal Year Ending Dec.
2024

Fiscal Year Ending Dec.
2023

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005