Asco Foundation

Quick Stats

• Annual Giving: $788,611
• Success Rate: N/A (no public application process)
• Decision Time: N/A (trustee discretion)
• Grant Range: Varies widely
• Geographic Focus: Texas and California

Contact Details

• Phone: 806-745-2000
• Address: 2102 E Slaton Rd, Lubbock, TX 79404-6800
• Website: No dedicated foundation website
• Email: Not publicly available

Overview

The Asco Foundation is a private family foundation established in 2012 by the Wright family, owners of ASCO Equipment, a heavy equipment dealership operating across Texas, New Mexico, and Oklahoma. With total assets of approximately $26.9 million, the foundation distributes around $788,611 annually through 17-20 grants to various nonprofit organizations. The foundation operates under ASCO Equipment's "be a blessing" philosophy and serves as the philanthropic arm of the family business. The foundation focuses on community development, education, youth services, and religious organizations, primarily in communities where ASCO Equipment has branch operations.

Funding Priorities

Grant Programs

The foundation operates through:

• Direct trustee-discretionary grants to selected nonprofits
• Matching funds program for ASCO Equipment branch fundraisers (matches every penny raised by the company's 27 branches for local nonprofits)

Priority Areas

• United Way affiliates
• Methodist Church missions and religious organizations
• CASA (Court Appointed Special Advocates) programs
• Children and youth services
• Education and scholarships
• Community development organizations

What They Don't Fund

Specific exclusions not publicly documented

Governance and Leadership

The foundation is managed by three family trustees who serve without compensation:

• WB Brax Wright - CEO of ASCO Equipment
• John Stephen Wright - President of ASCO Equipment
• Paula Wright Key

The Wright family has also established significant educational endowments, including the Wright Family ASCO Foundation Endowed Presidential Scholarship at Texas Tech University Health Sciences Center and the Corinne Payne Wright Endowed Chair in Alzheimer's Disease.

Application Process & Timeline

How to Apply

This funder does not have a public application process. Grants are awarded through trustee discretion and existing relationships.

Getting on Their Radar

Based on the foundation's giving patterns and connection to ASCO Equipment:

• Organizations in communities where ASCO Equipment's 27 branches operate have the strongest connection point through local branch fundraising initiatives
• The foundation specifically matches funds raised by ASCO Equipment branches for local nonprofits, creating a clear pathway for organizations in those communities
• Building relationships with ASCO Equipment branch managers who organize annual fundraisers could provide an introduction to the foundation's matching program
• Organizations should align with the foundation's established giving areas: United Way, Methodist Church missions, CASA programs, and youth services

Decision Timeline

Not applicable - trustee discretion basis

Success Rates

Not publicly available

Reapplication Policy

Not applicable

Application Success Factors

Since the foundation operates through trustee discretion and relationship-based giving:

• Geographic proximity to ASCO Equipment's 27 branch locations across Texas, New Mexico, and Oklahoma provides the strongest connection
• Alignment with the foundation's established giving patterns, particularly United Way affiliates, Methodist organizations, and CASA programs
• The foundation's matching funds program for ASCO Equipment branch fundraisers represents the most accessible pathway for new organizations
• The Wright family's philosophy of "be a blessing" suggests organizations that demonstrate community impact and align with faith-based values may resonate

Key Takeaways for Grant Writers

• This is a private family foundation without a public application process - relationships and connections are essential
• The most viable pathway for funding is through ASCO Equipment's branch fundraising initiatives where the foundation provides matching funds
• Organizations in Texas communities where ASCO Equipment operates (Amarillo, Beaumont, Lubbock, Odessa, San Angelo, San Antonio, etc.) have geographic advantage
• The foundation consistently supports United Way, Methodist missions, and CASA programs - similar organizations may find alignment
• With approximately $788,611 in annual giving across 17-20 grants, average grant sizes vary but the foundation has capacity for meaningful support
• The Wright family's long-term commitment to education (evidenced by TTUHSC endowments) suggests educational initiatives may be of interest

References

• Charity Navigator. "Asco Foundation." Accessed March 2024. https://www.charitynavigator.org/ein/456659354
• Cause IQ. "Asco Foundation Profile." Accessed March 2024. https://www.causeiq.com/organizations/asco-foundation,456659354/
• ProPublica Nonprofit Explorer. "Asco Foundation Form 990-PF." Accessed March 2024. https://projects.propublica.org/nonprofits/organizations/456659354
• Texas Tech University Health Sciences Center. "The ASCO Foundation: A West Texas Company with a Big Heart." Accessed March 2024. https://www.ttuhsc.edu/institutional-advancement/donor-stories/asco-story.aspx
• ASCO Equipment. "About ASCO Equipment." Accessed March 2024. https://ascoeq.com/about/