The Vela Foundation
- Assets
- $7.9m
- Revenue
- $144.3k
- Investments
- $7.5m
- Employees
- 0
- Location
- Osterville, MA
- Founding
- 07/2008
- Data as of
- 12/2020
- EIN
- 20-8117214
Organization Overview
The Vela Foundation is located in Osterville, MA. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vela Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Vela Foundation generated $144.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (65.1%) each year. All expenses for the organization totaled $600.7k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Vela Foundation has awarded 56 individual grants totaling $909,805. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $140 |
| Interest on Savings | $165 |
| Dividends & Interest | $92,932 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $53,079 |
| Capital Gain Net Income | $53,079 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$2,023 |
| Total Revenue | $144,293 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $15 |
| Taxes | $22,022 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $65,927 |
| Total operating and administrative expenses | $135,926 |
| Contributions, gifts, grants paid | $464,805 |
| Total expenses and disbursements | $600,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $359,989 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,116,077 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $7,902,548 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $70 |
| Total liabilities | $70 |
Grants Awarded
Over the last fiscal year, The Vela Foundation has awarded $445,000 in support to 35 organizations.
| Grant Recipient | Amount |
|---|---|
Harwich, MA PURPOSE: GENERAL USE | $25,000 |
Jamaica Plain, MA PURPOSE: GENERAL USE | $20,000 |
New Bedford, MA PURPOSE: GENERAL USE | $20,000 |
Mashpee, MA PURPOSE: GENERAL USE | $20,000 |
HARVARD CHAN SCHOOL OF PUBLIC HEALTH PURPOSE: GENERAL USE | $20,000 |
Hyannis, MA PURPOSE: GENERAL USE | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Druckenmiller Foundation New York, NY | $1,579,806,367 | $402,828,458 |
Rockefeller Brothers Fund Inc New York, NY | $1,654,004,790 | $94,665,303 |
Adelson Family Foundation Needham, MA | $5,626,414 | $49,822,227 |
Anna Maria And Stephen Kellen Foundation Inc New York, NY | $1,287,407,560 | $57,361,611 |
The Wallace Foundation New York, NY | $1,815,949,042 | $114,535,478 |
Stephen A Schwarzman Foundation New York, NY | $124,156,635 | $61,557,254 |
Pepsico Foundation Inc Purchase, NY | $25,033,678 | $1,734,936 |
Foundation Mireille And James Levy Usa New York, NY | $36,878,233 | $277,701 |
The Bat Hanadiv Foundation No 3 New York, NY | $1,717,297,999 | $245,079,951 |
Big East Conference Inc New York, NY | $25,429,264 | $59,716,596 |
Bristol-Myers Squibb Foundation Inc New York, NY | $146,629,708 | $46,784 |
Cohen Veterans Network Inc Stamford, CT | $21,771,420 | $47,396,071 |