Vara Educational Foundation Inc
- Assets
- $532.4k
- Revenue
- $78.9k
- Investments
- $234.9k
- Employees
- 0
- Location
- Woodstock, VT
- Founding
- 02/1974
- Data as of
- 07/2023
- EIN
- 23-7336991
Organization Overview
Vara Educational Foundation Inc is located in Woodstock, VT. The organization was established in 1974. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vara Educational Foundation Inc 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 07/2023, Vara Educational Foundation Inc generated $78.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 28.0% each year . All expenses for the organization totaled $32.6k during the year ending 07/2023. While expenses have increased by 5.6% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIP AWARDED TO APPROXIMATELY 22 ELIGIBLE RECIPIENTS TO PAY TUITION AND RELATED EXPENSES TO SKI ACADEMIES AND SKI CLUBS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Taylor Mikell President | 0 | $0 | |
Ryan Sheredy Secretary | 0 | $0 | |
Mariel Meringolo Treasurer | 0 | $0 | |
Andrew Mcnealus Vice President | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $31,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $10,039 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $37,364 |
| Capital Gain Net Income | $37,364 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $78,903 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $96 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $0 |
| Total operating and administrative expenses | $2,820 |
| Contributions, gifts, grants paid | $29,750 |
| Total expenses and disbursements | $32,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,481 |
| Savings and temporary cash investments | $0 |
| 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 | $234,920 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $532,401 |
| 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 | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Vara Educational Foundation Inc has awarded $29,750 in support to 31 organizations.
| Grant Recipient | Amount |
|---|---|
ADA JONES PURPOSE: MERIT SCHOLARSHIP | $1,000 |
ALEXANDER HUBER PURPOSE: TRAVEL | $1,000 |
ALICE PADILHA PURPOSE: FINANCIAL ASSISTANCE | $500 |
ESPEN HUNT PURPOSE: FINANCIAL ASSISTANCE | $1,100 |
ANNIKA HUNT PURPOSE: FINANCIAL ASSISTANCE | $1,100 |
ARTHUR PADILHA PURPOSE: FINANCIAL ASSISTANCE | $500 |