When it began in 1968, the Waxahachie Foundation had approximately $9,900 to its name. On Wednesday morning, Feb. 7, in the downtown lobby of Citizens National Bank of Texas in Waxahachie, the organization donated nearly two 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, four local organizations received checks totaling $16,000.
The organizations receiving donations included the Waxahachie Symphony Association, Baylor Scott and White — Waxahachie, Common Ground Ministries, and Waxahachie CARE.
“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.”
Dinah Weable has since taken over as the foundation's president.
The foundation averages a distribution of 6-10 grants each quarter. 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.
The presentation of funds was the first for Waxahachie Foundation Board of Directors in 2018.
The foundation also recently named its officers for 2018. Those include Dianah Weable, president; Candace Ahlfinger, vice president; Ryan Pitts, secretary; and Jerry Chapman, treasurer.