The original Waterloo Civic Foundation was created in 1956, later to be expanded and converted into an area foundation serving a multi-county area of Northeast Iowa. In 2014, a group of longtime Waterloo residents determined there may be a place for an additional foundation that once again was focused on Waterloo and its future. Tim Hurley, Joe Vich, Mike Young, and Rick Young gauged the interest for such an endeavor and determined the community could support a Waterloo-focused foundation.

Thus, the new Waterloo Community Foundation was incorporated in 2015, with the sole purpose of providing a conduit for past, present, and future Waterloo residents to invest or will funds specifically to enhance Waterloo and the immediate area.

The foundation elected a board of directors in 2015. The original board members were:

  • Stacey Bentley
  • Geoffrey Grimes
  • Theresa Hoffman
  • Tim Hurley
  • Wilfred “Mickye” Johnson
  • Jim Lind
  • Kent McCausland
  • Kathy McCoy
  • Troy Smith
  • Joe Vich
  • Jim Walsh
  • Dan Watters
  • Mike Young
  • Rick Young

Michelle Temeyer was hired as the initial part-time staff person, with offices in the US Bank Building, 425 Cedar Street in downtown Waterloo. The first grant was awarded in 2016.