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Nonprofiteer
← VELA EDUCATION FUND

Form 990 for tax year 2022

Filed by VELA EDUCATION FUND.

Totals

Total revenue
$16,079,595
Total expenses
$14,996,723
Contributions and grants received
$16,075,378
Grants paid
$12,714,332
Program service revenue
$0
Investment income
$4,217
Other revenue
$0
Total assets, end of year
$8,295,380
Total liabilities, end of year
$2,786,611
Net assets or fund balances, end of year
$5,508,769
Program services expenses (Part IX)
$14,886,074
Management and general expenses
$110,649
Fundraising expenses
$0
Program service expenses (Part III)
$14,886,074

Program services were 99.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • MEREDITH OLSON

    BOARD MEMBER/EXEC DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CALEB OFFLEY

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • DEREK JOHNSON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • EDWARD HUI

    BOARD MEMBER (INCOMING)

    Total calculated
    $0
    Hours/week
    1

  • LARRY TODD ROSE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • MARC STERNBERG

    BOARD MEMBER (OUTGOING)

    Total calculated
    $0
    Hours/week
    1

  • BRIAN MENKES

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • KARA HARTNETT

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • ADAM EWING

    SENIOR DIRECTOR OF STRATEGIC ADVANCEMENT

    Total calculated
    $114,056
    From this org
    $109,736
    From related orgs
    $0
    Other
    $4,320
    Hours/week
    50

  • BETH SELING

    CHIEF OF OPERATIONS

    Total calculated
    $332,733
    From this org
    $291,850
    From related orgs
    $0
    Other
    $40,883
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $216,850
    Bonus
    $75,000
    Other
    $0
    Deferred
    $13,477
    Nontaxable benefits
    $27,406
    Filer's total
    $332,733

  • LAUREN GREVEL

    MANAGER-ISSUE EDUCATION

    Total calculated
    $135,148
    From this org
    $118,646
    From related orgs
    $0
    Other
    $16,502
    Hours/week
    50

  • SHAINA BELTON

    DIRECTOR-ISSUE EDUCATION

    Total calculated
    $145,720
    From this org
    $128,368
    From related orgs
    $0
    Other
    $17,352
    Hours/week
    50

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

    $10,880,332

    VARIOUS

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303199349301955

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