Totals
- Total revenue
- $18,518,008
- Total expenses
- $13,589,002
- Contributions and grants received
- $18,052,745
- Grants paid
- $10,706,082
- Program service revenue
- $0
- Investment income
- $465,263
- Other revenue
- $0
- Total assets, end of year
- $13,520,815
- Total liabilities, end of year
- $3,083,040
- Net assets or fund balances, end of year
- $10,437,775
- Program services expenses (Part IX)
- $13,421,387
- Management and general expenses
- $167,615
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $13,421,387
Program services were 98.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$18,052,745
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $465,263 · excluded $465,263
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $9,156,082 · program services $9,156,082
-
2 · Grants to domestic individuals
total $1,345,000 · program services $1,345,000
-
3 · Grants to foreign organizations and individuals
total $205,000 · program services $205,000
-
7 · Other salaries and wages
total $1,392,607 · program services $1,275,487 · management and general $117,120
-
8 · Pension plan contributions
total $60,217 · program services $56,177 · management and general $4,040
-
9 · Other employee benefits
total $76,073 · program services $76,073
-
10 · Payroll taxes
total $100,852 · program services $94,605 · management and general $6,247
-
11c · Fees: accounting
total $19,370 · management and general $19,370
-
11g · Fees: other
total $970,050 · program services $970,050 · management and general $0 · fundraising $0
-
13 · Office expenses
total $18,966 · program services $18,966
-
16 · Occupancy
total $12,654 · program services $2,794 · management and general $9,860
-
17 · Travel
total $161,437 · program services $161,437
-
19 · Conferences, conventions and meetings
total $41,938 · program services $41,938
-
23 · Insurance
total $8,979 · management and general $8,979
-
24a · Other expenses: MEDIA
total $7,778 · program services $7,778
-
24b · Other expenses: MISCELLANOUS
total $11,999 · program services $10,000 · management and general $1,999
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,975,389
-
2 · Savings and temporary cash investments
beginning of year $6,009,688 · end of year $12,905,591
-
3 · Pledges and grants receivable
beginning of year $302,995 · end of year $300,000
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $7,308 · end of year $65,224
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $250,000
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $371,611 · end of year $457,952
-
18 · Grants payable
beginning of year $2,415,000 · end of year $2,625,088
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $4,511,269 · end of year $8,708,655
-
28 · Net assets with donor restrictions
beginning of year $997,500 · end of year $1,729,120
Mission and programs · 2023
Mission
THE VELA EDUCATION FUND EXISTS TO ACCELERATE EDUCATION INNOVATION AND OPPORTUNITY FOR EVERY LEARNER BY: SUPPORTING EVERYDAY ENTREPRENEURS BUILDING CUSTOM EDUCATION PROGRAMS TO MEET FAMILIES LEARNERS' NEEDS, INCREASING AWARENESS OF NONTRADITIONAL EDUCATION, AND ACCELERATING ADOPTION BY MORE FAMILIES AND COMMUNITIES.
Activities or mission (Part I)
CUSTOM EDUCATION PROGRAMS TO MEET FAMILIES LEARNERS' NEEDS, INCREASING AWARENESS OF NONTRADITIONAL EDUCATION, AND ACCELERATING ADOPTION BY MORE FAMILIES AND COMMUNITIES.
-
VELA EDUCATION FUND MADE 699 GRANTS TO SUPPORT THE CREATION OR EXPANSION OF COMMUNITY-BASED NON-TRADITIONAL LEARNING MODELS. VELA FACILITATED COMMUNITY-BUILDING, KNOWLEDGE-SHARING, AND RESOURCE-SHARING AMONGST ITS COMMUNITY OF ENTREPRENEURS AND INCREASED AWARENESS OF NONTRADITIONAL EDUCATION THROUGH STORYTELLING, RESEARCH, AND COMMUNITY EVENTS.
Expenses $13,421,387 · Grants $10,706,082
As filed on the 2023 return.
Listed in Part VII
-
Meredith OlsonMEREDITH OLSON
BOARD MEMBER/EXEC DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Caleb OffleyCALEB OFFLEY
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Derek JohnsonDEREK JOHNSON
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Edward HuiEDWARD HUI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Larry Todd RoseLARRY TODD ROSE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Brian MenkesBRIAN MENKES
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Kara HartnettKARA HARTNETT
TREASURER (OUTGOING)
- Total calculated
- $0
- Hours/week
- 1
-
Beth SelingBETH SELING
CHIEF OF OPERATIONS
- Total calculated
- $381,548
- From this org
- $341,816
- From related orgs
- $0
- Other
- $39,732
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $339,736
- Bonus
- $2,080
- Other
- $0
- Deferred
- $14,942
- Nontaxable benefits
- $24,790
- Filer's total
- $381,548
-
Lauren GrevelLAUREN GREVEL
DIRECTOR OF PROGRAMS
- Total calculated
- $181,039
- From this org
- $160,513
- From related orgs
- $0
- Other
- $20,526
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $158,433
- Bonus
- $2,080
- Other
- $0
- Deferred
- $9,854
- Nontaxable benefits
- $10,672
- Filer's total
- $181,039
-
Lindsey KellyLINDSEY KELLY
DIRECTOR-BRAND AND COMMUNICATIONS
- Total calculated
- $199,741
- From this org
- $181,446
- From related orgs
- $0
- Other
- $18,295
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $179,366
- Bonus
- $2,080
- Other
- $0
- Deferred
- $3,700
- Nontaxable benefits
- $14,595
- Filer's total
- $199,741
-
Natalie LaraqueNATALIE LARAQUE
Director of External Affairs
- Total calculated
- $229,237
- From this org
- $207,386
- From related orgs
- $0
- Other
- $21,851
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $205,546
- Bonus
- $1,840
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $21,851
- Filer's total
- $229,237
-
Shaina BeltonSHAINA BELTON
DIRECTOR OF COMMUNITY
- Total calculated
- $170,025
- From this org
- $146,414
- From related orgs
- $0
- Other
- $23,611
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $144,334
- Bonus
- $2,080
- Other
- $0
- Deferred
- $7,800
- Nontaxable benefits
- $15,811
- Filer's total
- $170,025
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 7 Non-fixed payments
- INCENTIVE COMPENSATION IS BASED ON EXTRAORDINARY EFFORTS AND SERVICES PROVIDED TO THE ORGANIZATION, NOT BASED ON FINANCIAL RESULTS OF THE ORGANIZATION.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
SEE ATTACHED
$9,031,084
SUPPORT
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403209349301425
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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