WAXAHACHIE – When it began in 1968, the Waxahachie Foundation had approximately $9,900 to its name. On Wednesday morning, Nov. 15, in the downtown lobby of Citizens National Bank of Texas in Waxahachie, the organization donated almost three times more than the real estate and corporate stock given by R.F. Chapman and Edwin L. Harding, respectively.
With Waxahachie Foundation members on hand, seven local organizations received checks totaling $2,750.
The organizations receiving donations included the Waxahachie Symphony Association, Waxahachie Little Pantry, Common Ground Ministries,
Salvation Army of Ellis County, Baylor Scott and White — Waxahachie, Our Children's house, and Meals on Wheels of Johnson and Ellis County.
“The Waxahachie Foundation tries to help make a real difference in our area by supporting needy organizations,” former Waxahachie Foundation President Cindy Birch previously told the Daily Light. “We want more residents to know each donation is invested by the foundation and only the gain produced by the investment is distributed in the form of grants. This allows donations and memorial gifts to benefit the Waxahachie area for generations.”
Mike Lee has since taken over as the foundation's president.
The foundation averages a distribution of 6-10 grants each quarter, but Birch said they would “really like for that number to grow.”
According to Birch, the foundation — through trusts, investments and donations — now has an account balance of approximately $2.5 million in its CNB account which Ken P. Box, financial advisor at Edward Jones, manages at no costs to the foundation. Box and the rest of the board of directors, which meet four times a year, serve without monetary compensation, Birch added.
The presentation of funds was the fourth for Waxahachie Foundation Board of Directors in 2017.
*Portions of this article were previously reported by the Daily Light article.