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 relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $398.1k during the year ending 12/2022. While expenses have increased by 0.1% per year over the past 7 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.
Since 2017, Velaj Foundation Inc has awarded 139 individual grants totaling $1,251,650. 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 |
GREENWICH POLICE DEPARTMENT SCHOLARSHIP FUND PURPOSE: SCHOLARSHIPS | $1,000 |
GREENWICH SCHOLARSHIP ASSOCIATION PURPOSE: SCHOLARSHIPS | $2,000 |
MILL RIVER COLLABORATIVE PURPOSE: WHITTINGHAM DISCOVERY CENTER | $25,000 |
LOGGERHEAD MARINE LIFE CENTER PURPOSE: GENERAL OPERATING SUPPORT | $500 |
MILL RIVER COLLABORATIVE PURPOSE: GENERAL OPERATING SUPPORT | $2,500 |