Vel Institute
- Assets
- $58.7k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Spring, TX
- Founding
- 09/2014
- Data as of
- 12/2022
- 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 12/2022, Vel Institute generated $23.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (24.5%) each year. All expenses for the organization totaled $20.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (20.9%) per year over the past 5 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
2022
Describe the Organization's Program Activity:
Part 3
VEL INSTITUTE PROVIDED CLASSES TO VETERANS FOR PERSONAL GROWTH AND LEADERSHIP DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles Newnam Executive Di | 5 | $0 | |
Steven Schultz Director | 2 | $0 | |
Rolland Coleman Director | 1 | $0 | |
Elizabeth Greever Director | 3 | $0 | |
Sean Baker Director | 1 | $0 | |
Sean Buckley Director | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $38,576 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | -$15,624 |
| Other Revenue | $0 |
| Total Revenue | $22,952 |
| 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 | $3,235 |
| Occupancy, rent, utilities, and maintenance | $1,006 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $15,757 |
| Total expenses | $19,998 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $58,671 |
| Other assets | $0 |
| Total assets | $58,671 |
| Total liabilities | $0 |
| Net assets or fund balances | $58,671 |