Vela Education Fund

Organization Overview

Vela Education Fund is located in Glencoe, IL. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2022, Vela Education Fund employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vela Education Fund 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, Vela Education Fund generated $16.1m in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 52.1% each year . All expenses for the organization totaled $15.0m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.

Since 2020, Vela Education Fund has awarded 11 individual grants totaling $2,720,500. 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

CUSTOM EDUCATION PROGRAMS TO MEET FAMILIES LEARNERS' NEEDS, INCREASING AWARENESS OF NONTRADITIONAL EDUCATION, AND ACCELERATING ADOPTION BY MORE FAMILIES AND COMMUNITIES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

VELA EDUCATION FUND MADE 688 GRANTS TO SUPPORT THE CREATION OR EXPANSION OF COMMUNITY-BASED NON-TRADITIONAL LEARNING MODELS. VELA FACILITATED COMMUNITY-BUILDING, KNOWLEDGE-SHARING, AND RESOURCE-SHARING AMONGST ITS COMMUNITY OF ENTREPRENEURS AND INCREASED AWARENESS OF NONTRADITIONAL EDUCATION THROUGH STORYTELLING, RESEARCH, AND COMMUNITY EVENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Name Not Listed
Board Member/exec Director
$0
Name Not Listed
Board Member
$0
Name Not Listed
Board Member
$0
Name Not Listed
Board Member (incoming)
$0
Name Not Listed
Board Member
$0
Name Not Listed
Board Member (outgoing)
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
North Third Partners Llc
Consulting
$464,000
Brendan Lowe
Media Services
$201,403
Universe Creative
Media Services
$200,500
Stand Together Chamber Of Commerce Inc
Admin Services
$109,839
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$16,075,378
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$16,075,378
Total Program Service Revenue$0
Investment income $4,217
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $16,079,595

Grants Awarded

Over the last fiscal year, Vela Education Fund has awarded $2,720,500 in support to 11 organizations.

Grant RecipientAmount

40 SCHOOLS

PURPOSE: SUBGRANTS FOR PANDEMIC RELIEF

$465,000

GRIPTAPE INC

PURPOSE: GENERAL OPERATIONS

$150,000

HLS CREATIVE ACADEMY

PURPOSE: GENERAL OPERATIONS

$50,000

CAMELBACK VENTURES

PURPOSE: SUBGRANTS FOR PANDEMIC RELIEF

$445,000

ARIZONA COUNCIL FOR AMERICAN PRIVATE EDUCATION

PURPOSE: GENERAL OPERATIONS

$100,000

HIGH SCHOOL FOR RECORDING ARTS

PURPOSE: GENERAL OPERATIONS

$25,000
View Grant Profile

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