Vel Institute
- Assets
- $55.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Spring, TX
- Founding
- 09/2014
- Data as of
- 12/2021
- EIN
- 46-5637855
Organization Overview
Vel Institute is located in Spring, TX. The organization was established in 2014. According to its NTEE Classification (W30) the organization is classified as: Military & Veterans Organizations, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vel Institute 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, Vel Institute generated $35.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (21.5%) each year. All expenses for the organization totaled $14.2k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (31.5%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
VEL INSTITUTE PROVIDED CLASSES TO VETERANS FOR PERSONAL GROWTH AND LEADERSHIP DEVELOPMENT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rolland Coleman Director | 2 | $0 | |
Elizabeth Greever Director | 3 | $0 | |
Will Holder Director | 1 | $0 | |
Steven Schultz Director | 3 | $0 | |
Charles Newnam Executive Di | 5 | $0 | |
Sean Baker Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,994 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $6,450 |
| Other Revenue | $0 |
| Total Revenue | $35,444 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $3,014 |
| Occupancy, rent, utilities, and maintenance | $316 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $10,899 |
| Total expenses | $14,229 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $55,717 |
| Other assets | $0 |
| Total assets | $55,717 |
| Total liabilities | $0 |
| Net assets or fund balances | $55,717 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vel Institute has recieved totaling $45.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $45 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Veterans Of Foreign Wars Of The United States Dept Of Texas Austin, TX | $10,604,149 | $6,677,704 |
Louisiana National Guard Foundation New Orleans, LA | $5,835,401 | $6,505,889 |
Military Wellness Initiative Dallas, TX | $2,428,709 | $3,600,000 |
American Legion Clovis, NM | $323,823 | $3,104,581 |
Combat Marine Outdoors Inc Houston, TX | $1,866,228 | $2,870,312 |
American Legion Clovis, NM | $235,874 | $1,801,640 |
Veterans Of Foreign Wars Of The United States Dept Of Texas Copperas Cve, TX | $546,071 | $1,909,310 |
American Legion Austin, TX | $7,412,004 | $1,863,301 |
Wish For Our Heroes Inc San Antonio, TX | $1,716,093 | $1,811,976 |
Veterans Of Foreign Wars Of The United States Dept Of Texas Georgetown, TX | $401,147 | $1,318,650 |
Nextop Inc Houston, TX | $488,854 | $1,385,969 |
Armed Forces Communications And Electronics Association Austin, TX | $1,822,734 | $1,458,339 |