Vela
- Assets
- $226.6k
- Revenue
- $302.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Austin, TX
- Founding
- 07/2010
- Data as of
- 12/2021
- EIN
- 27-2451077
Organization Overview
Vela is located in Austin, TX. The organization was established in 2010. According to its NTEE Classification (B28) the organization is classified as: Special Education, under the broad grouping of Education and related organizations. As of 12/2021, Vela employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vela 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 12/2021, Vela generated $302.3k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $335.6k during the year ending 12/2021. While expenses have increased by 15.7% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
VELA EMPOWERS FAMILIIES OF CHILDREN WITH SPECIAL NEEDS THROUGH HANDS ON COURSES, SUPPORT AND COMMUNITY BUILDING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDES HANDS-ON CLASSES AND SUPPORT IN BOTH ENGLISH AND SPANISH TO AUSTIN'S UNDERSERVED FAMILIES OF CHILDREN WITH SPECIAL NEEDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Monica Saavedra Vice President | Officer | 5 | $0 |
Susanna Olivarez Chair | Officer | 5 | $0 |
Guadalupe Yanez Secretary | Officer | 5 | $0 |
Mike Yeldell Treasurer | Officer | 5 | $0 |
Paulette Betancourt Member | Trustee | 0 | $0 |
Carol Portillo PHD Member | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $77,700 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $210,962 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $288,662 |
| Total Program Service Revenue | $18,374 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,747 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $302,289 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $179,608 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $13,740 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $82,834 |
| Advertising and promotion | $0 |
| Office expenses | $11,164 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,028 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,261 |
| All other expenses | $37,140 |
| Total functional expenses | $335,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $226,557 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $67 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $226,624 |
| Accounts payable and accrued expenses | $9,235 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $9,235 |
| Net assets without donor restrictions | $217,389 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $226,624 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Vela has recieved totaling $33,559.
| Awarding Organization | Amount |
|---|---|
Shield-Ayres Foundation Austin, TX PURPOSE: GENERAL SUPPORT OF THE ORGANIZATION | $10,000 |
Austin Community Foundation Austin, TX PURPOSE: DONATION FROM THE LAURA AND THAD AVERY FAMILY FUND | $8,500 |
Donald D Hammill Foundation Austin, TX PURPOSE: EXPAND SERVICES | $8,500 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $6,366 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $193 |
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