Velaj Foundation Inc
- Assets
- $4.2m
- Revenue
- $189.7k
- Investments
- $4.2m
- Employees
- 0
- Location
- Stamford, CT
- Founding
- 12/2007
- Data as of
- 12/2022
- EIN
- 26-1102664
Organization Overview
Velaj Foundation Inc is located in Stamford, CT. The organization was established in 2007. According to its NTEE Classification (T22) the organization is classified as: Private Independent 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. Velaj 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 12/2022, Velaj Foundation Inc generated $189.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (5.2%) each year. All expenses for the organization totaled $398.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Velaj Foundation Inc has awarded 164 individual grants totaling $1,451,150. 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.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
NONE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alexander Velaj Director, President | 40 | $92,400 | |
Patricia Wells Velaj Director, Vp, Treasurer, Secretary | 1.5 | $14,000 | |
Nicole R Velaj Director | 1 | $10,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $256 |
| Dividends & Interest | $124,208 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $65,199 |
| Capital Gain Net Income | $65,199 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $30 |
| Total Revenue | $189,693 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $116,400 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $7,825 |
| Interest | $0 |
| Taxes | $8,745 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $27,001 |
| Printing and publications | $0 |
| Other expenses | $10,385 |
| Total operating and administrative expenses | $192,748 |
| Contributions, gifts, grants paid | $205,400 |
| Total expenses and disbursements | $398,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,036 |
| Savings and temporary cash investments | $20,753 |
| 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 | $3,693,797 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $4,210,615 |
| 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, Velaj Foundation Inc has awarded $205,400 in support to 17 organizations.
| Grant Recipient | Amount |
|---|---|
EDUCATION FOR EMPLOYMENT PURPOSE: INNOVATION AWARD | $75,000 |
Stamford, CT PURPOSE: ASTRONOMY CENTER | $30,000 |
STAMFORD HOSPITAL FOUNDATION PURPOSE: MATERNAL-CHILD SAFETY | $30,000 |
Stamford, CT PURPOSE: WHITTINGHAM DISCOVERY CENTER | $25,000 |
Stamford, CT PURPOSE: STEWARDS PROGRAM | $15,000 |
Darien, CT PURPOSE: HOLIDAY TOYS FAIR | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
S & G Foundation albany, NY | $1,180,089,159 | $294,936,683 |
Steven & Alexandra Cohen Foundation Inc Stamford, CT | $524,605,658 | $98,007,018 |
Starr Foundation New York, NY | $1,351,331,495 | $187,314,215 |
Robertson Foundation New York, NY | $308,129,047 | $104,540,927 |
William Randolph Hearst Foundation New York, NY | $0 | $92,096,829 |
Foundation For A Just Society New York, NY | $0 | $262,120,919 |
Surdna Foundation Inc New York, NY | $0 | $71,392,126 |
Carson Fam Charitable Tr New York, NY | $302,357,968 | $144,716,166 |
Blavatnik Family Foundation 2020 New York, NY | $0 | $14,146 |
Henry Luce Foundation Inc New York, NY | $1,226,277,880 | $84,818,070 |
Paul E Singer Foundation New York, NY | $412,018,579 | $19,273,091 |
Bernard And Anne Spitzer Charitable Tr New York, NY | $0 | $17,565,686 |