Civic Intelligence

Vela Education Fund

990 • Fiscal year 2023 • EIN 84-4185046

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileWWW.VELA.ORG
361 Park Ave 203Glencoe, IL 60022

(504) 250-7715

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

55th percentile

0.23x

Higher debt load relative to assets than 55% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

40th percentile

0.17x

Higher debt load relative to revenue than 40% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

81st percentile

27%

Higher net margin than 81% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

86th percentile

$381,548

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

93rd percentile

63%

Faster asset growth than 93% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

67th percentile

15%

Faster revenue growth than 67% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets55th percentile

Assets

Up

$13,520,815

Up $5,225,435 (+63%) from 2022

Net Assets

Up

$10,437,775

Up $4,929,006 (+89%) from 2022

Liabilities

Up

$3,083,040

Up $296,429 (+11%) from 2022

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin81st percentile

Revenue

Up

$18,518,008

Up $2,438,413 (+15%) from 2022

Expenses

Down

$13,589,002

Down $1,407,721 (-9.4%) from 2022

Net Income

Up

$4,929,006

Up $3,846,134 (+355%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2020: $1,305,580Liabilities 2020: $152,981Net Assets 2020: $1,152,5992020Assets 2021: $4,855,969Liabilities 2021: $430,072Net Assets 2021: $4,425,8972021Assets 2022: $8,295,380Liabilities 2022: $2,786,611Net Assets 2022: $5,508,7692022Assets 2023: $13,520,815Liabilities 2023: $3,083,040Net Assets 2023: $10,437,7752023Assets 2024: $21,403,298Liabilities 2024: $2,948,056Net Assets 2024: $18,455,2422024

Highlighted filing

2023

Assets$13,520,815
Liabilities$3,083,040
Net Assets$10,437,775
Open 2023 Filing

Operations Trend

Revenue Growth67th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$15M$10M$5.0M$0Revenue 2020: $4,570,982Expenses 2020: $3,418,383Net Income 2020: $1,152,5992020Revenue 2021: $13,247,569Expenses 2021: $9,974,271Net Income 2021: $3,273,2982021Revenue 2022: $16,079,595Expenses 2022: $14,996,723Net Income 2022: $1,082,8722022Revenue 2023: $18,518,008Expenses 2023: $13,589,002Net Income 2023: $4,929,0062023Revenue 2024: $18,940,669Expenses 2024: $11,450,200Net Income 2024: $7,490,4692024

Highlighted filing

2023

Revenue$18,518,008
Expenses$13,589,002
Net Income$4,929,006
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$18,518,008
Mission and Program Overview

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.

Custom education programs to meet families learners' needs, increasing awareness of nontraditional education, and accelerating adoption by more families and communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$6,009,688$12,905,591▲ $6,895,903
Cash and Non-Interest-Bearing Accounts$1,975,389--
Pledges and Grants Receivable$302,995$300,000▼ $2,995
Investments Other Securities$0$250,000▲ $250,000
Prepaid Expenses and Deferred Charges$7,308$65,224▲ $57,916
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$8,295,380$13,520,815▲ $5,225,435
Other Assets Total$0$0→ $0
Liabilities
Grants Payable$2,415,000$2,625,088▲ $210,088
Accounts Payable and Accrued Expenses$371,611$457,952▲ $86,341
Other Liabilities$0$0→ $0
Total Liabilities$2,786,611$3,083,040▲ $296,429
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,511,269$8,708,655▲ $4,197,386
Net Assets With Donor Restrictions$997,500$1,729,120▲ $731,620
Total Net Assets Fund Balance$5,508,769$10,437,775▲ $4,929,006
Total Liabilities and Net Assets / Fund Balance$8,295,380$13,520,815▲ $5,225,435
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Chief of OperationsFT$339,736$41,812$381,548
-Director of External AffairsFT$205,546$23,691$229,237
-Director-brand and CommunicationsFT$179,366$20,375$199,741
-Director of ProgramsFT$158,433$22,606$181,039
-Director of CommunityFT$144,334$25,691$170,025

Board Members and Trustees

NameTitle
-Board Member
-Board Member/exec Director
-Secretary
-Treasurer (outgoing)

Highest Paid Contractors

ContractorServicesLocationCompensation
North Third Partners LLCConsulting1313 STONEOAK DRIVE, Mckinney, TX 75072$440,000
Revenue and Support

Revenue Composition

Contributions and Grants
$18,052,745
Program Service Revenue
$0
Investment Income
$465,263
Other Revenue
$0
All Other Contributions
$18,052,745
Change in Net Assets
$4,929,006

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,518,008
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$956,646
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$19,474,654
Total Revenue per Form 990
$18,518,008
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$10,706,082
Salaries, Compensation, and Employee Benefits$1,629,749
Other Expenses$1,253,171
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$9,156,082--$9,156,082
Other Salaries and Wages$1,275,487$117,120-$1,392,607
Grants to Domestic Individuals$1,345,000--$1,345,000
Fees for Services Other$970,050$0$0$970,050
Foreign Grants$205,000--$205,000
Travel$161,437--$161,437
Payroll Taxes$94,605$6,247-$100,852
Other Employee Benefits$76,073--$76,073
Pension Plan Contributions$56,177$4,040-$60,217
Conferences and Meetings$41,938--$41,938
Fees for Services Accounting-$19,370-$19,370
Office Expenses$18,966--$18,966
Occupancy$2,794$9,860-$12,654
Other Expenses$10,000$1,999-$11,999
Insurance-$8,979-$8,979
Total Functional Expenses$13,421,387$167,615$0$13,589,002

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$14,568,148
Expenses per Audited Statements$13,589,002
Total Expenses per Form 990$13,589,002
Expenses Not Reported on Form 990$979,146
Expenses Not Reported on Financial Statements$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
See AttachedGlencoe, IL-Support$9,031,084

International Summary

Offices
0
Employees
0
Spending
$205,000

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland and Greenland)Grantmaking-00$205,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6 , 7A & 7B - CLASSES OF MEMBERS OR STOCKHOLDERS

“The organization has two class a members. Class a members have the power to elect and remove an equal numbers of directors. Amendments to the governing documents are subject to the written consent of the class a members.”

Form 990, Part VI, Line 11B Review of form 990 by governing body

“An independent accounting firm prepared and reviewed the form 990. A full draft of the 990 along with all required schedules is then provided to board members, internal management, and legal counsel for review. All questions are addressed and any modifications are made, if necessary. If time allows, the form 990 and all required schedules will be provided to the board of directors prior to filing.”

Form 990, Part VI, Line 12C Conflict of interest policy

“The organization's conflict of interest policy covers proposed transactions where interested persons (i.e., board members and officers) may have a financial interest in a transaction being considered by the board of directors or a committee thereof. The board or committee thereof has various options to address the proposed transaction and whether it presents a conflict of interest, including evaluating the fairness of the transaction, whether to appoint a disinterested person(s) or committee to evaluate the transaction, consulting legal counsel, etc.”

Form 990, Part VI, Line 19 Required documents available to the public

“Vela education fund makes documents available in accordance with irs rules.”

Filing and Contact Details

Filer

Filer Name
VELA Education Fund
EIN
84-4185046
Phone
5042507715
Address
361 PARK AVE 203, GLENCOE, IL 60022

Signing Officer

Name
Kara Hartnett
Title
Treasurer
Phone
5042507715
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Formed
2020
Legal Domicile
De
Voting Board Members
5
Independent Board Members
5
Employees
8
Volunteers
0

Preparer

Firm
Forvis Mazars LLP
Address
1201 Walnut Suite 1700, Kansas City, MO 64106-2246
Preparer
Michael Engle
Phone
8162216300
Supplemental Narrative

Financial Statement Notes

Schedule D, Part X FIN 48 (ASC 740) FOOTNOTE

“Management has evaluated the income tax positions under the guidance included in asc 740. Based on their review, management has not identified any material uncertain tax positions to be recorded or disclosed in the financial statements.”

Schedule D, Part XII, Line 2(D) Other expenses in audited financial statements not in form 990

“Grants adjustment - 22500”

Raw XML AppendixShowing 400 of 616 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
IRS990/AccountantCompileOrReviewInd0false
IRS990/AccountsPayableAccrExpnssGrp/BOYAmt0371611
IRS990/AccountsPayableAccrExpnssGrp/EOYAmt0457952
IRS990/ActivitiesConductedPrtshpInd0false
IRS990/ActivityOrMissionDesc0CUSTOM EDUCATION PROGRAMS TO MEET FAMILIES LEARNERS' NEEDS, INCREASING AWARENESS OF NONTRADITIONAL EDUCATION, AND ACCELERATING ADOPTION BY MORE FAMILIES AND COMMUNITIES.
IRS990/AllOtherContributionsAmt018052745
IRS990/AllOtherExpensesGrp/FundraisingAmt00
IRS990/AllOtherExpensesGrp/ManagementAndGeneralAmt00
IRS990/AllOtherExpensesGrp/ProgramServicesAmt00
IRS990/AllOtherExpensesGrp/TotalAmt00
IRS990/AnnualDisclosureCoveredPrsnInd0true
IRS990/AuditCommitteeInd0true
IRS990/BooksInCareOfDetail/BusinessName/BusinessNameLine1Txt0HENRICH HEUER
IRS990/BooksInCareOfDetail/PhoneNum07032147118
IRS990/BooksInCareOfDetail/USAddress/AddressLine1Txt04201 WILSON BLVD SUITE 800
IRS990/BooksInCareOfDetail/USAddress/CityNm0ARLINGTON
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0VA
IRS990/BooksInCareOfDetail/USAddress/ZIPCd022203
IRS990/BusinessRlnWith35CtrlEntInd0false
IRS990/BusinessRlnWithFamMemInd0false
IRS990/BusinessRlnWithOrgMemInd0false
IRS990/CashNonInterestBearingGrp/BOYAmt01975389
IRS990/ChangeToOrgDocumentsInd0false
IRS990/CntrctRcvdGreaterThan100KCnt01
IRS990/CollectionsOfArtInd0false
IRS990/CompensationFromOtherSrcsInd0false
IRS990/CompensationProcessCEOInd0false
IRS990/CompensationProcessOtherInd0false
IRS990/ConferencesMeetingsGrp/ProgramServicesAmt041938
IRS990/ConferencesMeetingsGrp/TotalAmt041938
IRS990/ConflictOfInterestPolicyInd0true
IRS990/ConservationEasementsInd0false
IRS990/ConsolidatedAuditFinclStmtInd0false
IRS990/ContractorCompensationGrp/CompensationAmt0440000
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/AddressLine1Txt01313 STONEOAK DRIVE
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/CityNm0MCKINNEY
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/StateAbbreviationCd0TX
IRS990/ContractorCompensationGrp/ContractorAddress/USAddress/ZIPCd075072
IRS990/ContractorCompensationGrp/ContractorName/BusinessName/BusinessNameLine1Txt0NORTH THIRD PARTNERS LLC
IRS990/ContractorCompensationGrp/ServicesDesc0CONSULTING
IRS990/CreditCounselingInd0false
IRS990/CYBenefitsPaidToMembersAmt00
IRS990/CYContributionsGrantsAmt018052745
IRS990/CYGrantsAndSimilarPaidAmt010706082
IRS990/CYInvestmentIncomeAmt0465263
IRS990/CYOtherExpensesAmt01253171
IRS990/CYOtherRevenueAmt00
IRS990/CYProgramServiceRevenueAmt00
IRS990/CYRevenuesLessExpensesAmt04929006
IRS990/CYSalariesCompEmpBnftPaidAmt01629749
IRS990/CYTotalExpensesAmt013589002
IRS990/CYTotalFundraisingExpenseAmt00
IRS990/CYTotalProfFndrsngExpnsAmt00
IRS990/CYTotalRevenueAmt018518008
IRS990/DecisionsSubjectToApprovaInd0true
IRS990/DeductibleArtContributionInd0false
IRS990/DeductibleNonCashContriInd0false
IRS990/DelegationOfMgmtDutiesInd0false
IRS990/Desc0VELA 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.
IRS990/DescribedInSection501c3Ind0true
IRS990/DisregardedEntityInd0false
IRS990/DocumentRetentionPolicyInd0true
IRS990/DonorAdvisedFundInd0false
IRS990/DonorRestrictionNetAssetsGrp/BOYAmt0997500
IRS990/DonorRestrictionNetAssetsGrp/EOYAmt01729120
IRS990/DonorRstrOrQuasiEndowmentsInd0false
IRS990/ElectionOfBoardMembersInd0true
IRS990/EmployeeCnt08
IRS990/EmploymentTaxReturnsFiledInd0true
IRS990/EngagedInExcessBenefitTransInd0false
IRS990/ExpenseAmt013421387
IRS990/FamilyOrBusinessRlnInd0false
IRS990/FederalGrantAuditRequiredInd0false
IRS990/FeesForServicesAccountingGrp/ManagementAndGeneralAmt019370
IRS990/FeesForServicesAccountingGrp/TotalAmt019370
IRS990/FeesForServicesOtherGrp/FundraisingAmt00
IRS990/FeesForServicesOtherGrp/ManagementAndGeneralAmt00
IRS990/FeesForServicesOtherGrp/ProgramServicesAmt0970050
IRS990/FeesForServicesOtherGrp/TotalAmt0970050
IRS990/ForeignActivitiesInd0true
IRS990/ForeignFinancialAccountInd0false
IRS990/ForeignGrantsGrp/ProgramServicesAmt0205000
IRS990/ForeignGrantsGrp/TotalAmt0205000
IRS990/ForeignOfficeInd0false
IRS990/Form8282PropertyDisposedOfInd0false
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt00.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt10.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt20.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt30.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt40.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt50.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt60.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt70.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt80.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt90.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt100.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRltdOrgRt110.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt01.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt11.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt21.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt31.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt41.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt51.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt61.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt750.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt850.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt950.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1050.0
IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt1150.0
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt0MEREDITH OLSON
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt1CALEB OFFLEY
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt2DEREK JOHNSON
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt3EDWARD HUI
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt4LARRY TODD ROSE
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt5BRIAN MENKES
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt6KARA HARTNETT
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt7BETH SELING
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt8LAUREN GREVEL
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt9LINDSEY KELLY
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt10NATALIE LARAQUE
IRS990/Form990PartVIISectionAGrp/BusinessName/BusinessNameLine1Txt11SHAINA BELTON
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd0X
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd1X
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd2X
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd3X
IRS990/Form990PartVIISectionAGrp/HighestCompensatedEmployeeInd4X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd0X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd1X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd2X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd3X
IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd4X
IRS990/Form990PartVIISectionAGrp/OfficerInd0X
IRS990/Form990PartVIISectionAGrp/OfficerInd1X
IRS990/Form990PartVIISectionAGrp/OfficerInd2X
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt00
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt20
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt30
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt40
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt50
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt60
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt739732
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt820526
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt918295
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1021851
IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1123611
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt7341816
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt8160513
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt9181446
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt10207386
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt11146414
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt00
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt10
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt20
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt110
IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD MEMBER/EXEC DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD MEMBER
IRS990/Form990PartVIISectionAGrp/TitleTxt5SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt6TREASURER (OUTGOING)
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHIEF OF OPERATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR OF PROGRAMS
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR-BRAND AND COMMUNICATIONS
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director of External Affairs
IRS990/Form990PartVIISectionAGrp/TitleTxt11DIRECTOR OF COMMUNITY
IRS990/Form990ProvidedToGvrnBodyInd0true
IRS990/FormationYr02020
IRS990/FormerOfcrEmployeesListedInd0false
IRS990/FSAuditedBasisGrp/SeparateBasisFinclStmtInd0X
IRS990/FSAuditedInd0true
IRS990/FundraisingActivitiesInd0false
IRS990/GainOrLossGrp/OtherAmt00
IRS990/GainOrLossGrp/SecuritiesAmt00
IRS990/GamingActivitiesInd0false
IRS990/GoverningBodyVotingMembersCnt05
IRS990/GrantAmt010706082
IRS990/GrantsPayableGrp/BOYAmt02415000
IRS990/GrantsPayableGrp/EOYAmt02625088
IRS990/GrantsToDomesticIndividualsGrp/ProgramServicesAmt01345000
IRS990/GrantsToDomesticIndividualsGrp/TotalAmt01345000
IRS990/GrantsToDomesticOrgsGrp/ProgramServicesAmt09156082
IRS990/GrantsToDomesticOrgsGrp/TotalAmt09156082
IRS990/GrantsToIndividualsInd0true
IRS990/GrantsToOrganizationsInd0true
IRS990/GrantToRelatedPersonInd0false
IRS990/GrossReceiptsAmt018518008
IRS990/GroupReturnForAffiliatesInd0false
IRS990/IncludeFIN48FootnoteInd0true
IRS990/IndependentAuditFinclStmtInd0true
IRS990/IndependentVotingMemberCnt05
IRS990/IndivRcvdGreaterThan100KCnt06
IRS990/IndoorTanningServicesInd0false
IRS990/InfoInScheduleOPartVIInd0X
IRS990/InsuranceGrp/ManagementAndGeneralAmt08979
IRS990/InsuranceGrp/TotalAmt08979
IRS990/InvestmentIncomeGrp/ExclusionAmt0465263
IRS990/InvestmentIncomeGrp/TotalRevenueColumnAmt0465263
IRS990/InvestmentInJointVentureInd0false
IRS990/InvestmentsOtherSecuritiesGrp/BOYAmt00
IRS990/InvestmentsOtherSecuritiesGrp/EOYAmt0250000
IRS990/InvestmentsProgramRelatedGrp/BOYAmt00
IRS990/IRPDocumentCnt0390
IRS990/IRPDocumentW2GCnt00
IRS990/LandBldgEquipAccumDeprecAmt00
IRS990/LandBldgEquipBasisNetGrp/BOYAmt00
IRS990/LandBldgEquipBasisNetGrp/EOYAmt00
IRS990/LandBldgEquipCostOrOtherBssAmt00
IRS990/LegalDomicileStateCd0DE
IRS990/LoanOutstandingInd0false
IRS990/LoansFromOfficersDirectorsGrp/BOYAmt00
IRS990/LoansFromOfficersDirectorsGrp/EOYAmt00
IRS990/LobbyingActivitiesInd0false
IRS990/LocalChaptersInd0false
IRS990/MaterialDiversionOrMisuseInd0false
IRS990/MembersOrStockholdersInd0true
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MiscellaneousRevenueGrp/ExclusionAmt00
IRS990/MiscellaneousRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/MiscellaneousRevenueGrp/TotalRevenueColumnAmt00
IRS990/MiscellaneousRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/MissionDesc0THE 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.
IRS990/MoreThan5000KToIndividualsInd0false
IRS990/MoreThan5000KToOrgInd0true
IRS990/NetAssetsOrFundBalancesBOYAmt05508769
IRS990/NetAssetsOrFundBalancesEOYAmt010437775
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NoDonorRestrictionNetAssetsGrp/BOYAmt04511269
IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt08708655
IRS990/NoListedPersonsCompensatedInd0X
IRS990/NondeductibleContributionsInd0false
IRS990/OccupancyGrp/ManagementAndGeneralAmt09860
IRS990/OccupancyGrp/ProgramServicesAmt02794
IRS990/OccupancyGrp/TotalAmt012654
IRS990/OfficeExpensesGrp/ProgramServicesAmt018966
IRS990/OfficeExpensesGrp/TotalAmt018966
IRS990/OfficerMailingAddressInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
IRS990/OtherAssetsTotalGrp/BOYAmt00
IRS990/OtherAssetsTotalGrp/EOYAmt00
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt076073
IRS990/OtherEmployeeBenefitsGrp/TotalAmt076073
IRS990/OtherExpensesGrp/Desc0MEDIA
IRS990/OtherExpensesGrp/Desc1MISCELLANOUS
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt01999
IRS990/OtherExpensesGrp/ProgramServicesAmt07778
IRS990/OtherExpensesGrp/ProgramServicesAmt110000
IRS990/OtherExpensesGrp/TotalAmt07778
IRS990/OtherExpensesGrp/TotalAmt111999
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0117120
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01275487
IRS990/OtherSalariesAndWagesGrp/TotalAmt01392607
IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt06247
IRS990/PayrollTaxesGrp/ProgramServicesAmt094605
IRS990/PayrollTaxesGrp/TotalAmt0100852
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt04040
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt056177
IRS990/PensionPlanContributionsGrp/TotalAmt060217
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt0302995
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0300000
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt07308
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt065224
IRS990/PrincipalOfcrBusinessName/BusinessNameLine1Txt0MEREDITH OLSON
IRS990/ProfessionalFundraisingInd0false
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt016075378
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt012714332
IRS990/PYInvestmentIncomeAmt04217
IRS990/PYOtherExpensesAmt01236354
IRS990/PYRevenuesLessExpensesAmt01082872
IRS990/PYSalariesCompEmpBnftPaidAmt01046037
IRS990/PYTotalExpensesAmt014996723
IRS990/PYTotalRevenueAmt016079595
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/BOYAmt00
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/BOYAmt00
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt04929006
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0false
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt06009688
IRS990/SavingsAndTempCashInvstGrp/EOYAmt012905591
IRS990ScheduleA/First5Years170Ind0X
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt018052745
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt016075378
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt013244860
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt04566567
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt051939550
IRS990ScheduleA/GovtFurnSrvcFcltsVl170Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt0465263
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt04217
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt02709
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt04415
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt0476604
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus2YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus3YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/OtherIncome170Grp/TotalAmt00
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt035584519
IRS990ScheduleA/SubstantialContributorsTotAmt016355031
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft170Grp/TotalAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt018052745
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt016075378
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt013244860
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt04566567
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt00
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt051939550
IRS990ScheduleA/TotalSupportAmt052416154
IRS990ScheduleA/UnrelatedBusinessNetIncm170Grp/TotalAmt00
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt0956646
IRS990ScheduleD/DonatedServicesUseFcltsAmt0956646
IRS990ScheduleD/ExpensesNotReportedAmt0979146
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt013589002
IRS990ScheduleD/OtherExpensesIncludedAmt022500
IRS990ScheduleD/OtherExpensesNotIncludedAmt00
IRS990ScheduleD/OtherRevenueAmt00
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/RevenueNotReportedAmt0956646
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt018518008
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT HAS EVALUATED THE INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1GRANTS ADJUSTMENT - 22500
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part X FIN 48 (ASC 740) FOOTNOTE
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990
IRS990ScheduleD/TotalExpensesPerForm990Amt013589002
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt018518008
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt019474654
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt014568148
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/EmployeeCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/OfficesCnt00
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTotalExpendituresAmt0205000
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Europe (Including Iceland and Greenland)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Grantmaking
IRS990ScheduleF/BoycottCountriesInd0false
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinuationTotalEmployeeCnt00
IRS990ScheduleF/ContinuationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd0false
IRS990ScheduleF/ForeignPartnershipInd0false
IRS990ScheduleF/GrantRecordsMaintainedInd0true
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0205000
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0EFT
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0GENERAL OPERATING
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0Europe (Including Iceland and Greenland)
IRS990ScheduleF/InterestInForeignTrustInd0false
IRS990ScheduleF/PassiveForeignInvestmestCoInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$13,520,815
Liabilities
$3,083,040
Net assets
$10,437,775
Revenue
$18,518,008
Expenses
$13,589,002
Net income
$4,929,006
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$21.4$2.95$18.5$18.9$11.5$7.49
2023Detailed filing. Detailed filing data is available for this year.$13.5$3.08$10.4$18.5$13.6$4.93
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.30$2.79$5.51$16.1$15.0$1.08
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.86$0.43$4.43$13.2$9.97$3.27
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.31$0.15$1.15$4.57$3.42$1.15