Vela Education Fund
- Assets
- $4.9m
- Revenue
- $13.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Glencoe, IL
- Founding
- Data as of
- 12/2021
- EIN
- 84-4185046
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 12/2021, Vela Education Fund employed 4 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 12/2021, Vela Education Fund generated $13.2m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 70.2% each year . All expenses for the organization totaled $10.0m during the year ending 12/2021. While expenses have increased by 70.8% per year over the past 2 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 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CUSTOM EDUCATION PROGRAMS TO MEET FAMILIESLEARNERS' NEEDS, INCREASING AWARENESS OF NONTRADITIONAL EDUCATION, AND ACCELERATING ADOPTION BY MORE FAMILIES AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beth Seling Chief Of Operations | 50 | $175,409 | |
Meredith Olson Board Member/exec Director | OfficerTrustee | 1 | $0 |
Brian Menkes Secretary | Officer | 1 | $0 |
Derek Johnson Board Member | Trustee | 1 | $0 |
Marc Sternberg Board Member | Trustee | 1 | $0 |
Caleb Offley Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Universe Creative Media Services | 12/30/21 | $150,000 |
Brendan Lowe Media Services | 12/30/21 | $171,070 |
North Third Partners Llc Consulting | 12/30/21 | $256,000 |
Transcend Inc Consulting | 12/30/21 | $125,000 |
Stand Together Chamber Of Commerce Admin Service | 12/30/21 | $112,578 |
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 | $13,244,860 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,244,860 |
| Total Program Service Revenue | $0 |
| Investment income | $2,709 |
| 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 | $13,247,569 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,106,275 |
| Grants and other assistance to domestic individuals. | $2,372,500 |
| 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 | $329,173 |
| Pension plan accruals and contributions | $14,504 |
| Other employee benefits | $10,695 |
| Payroll taxes | $22,678 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $90 |
| Fees for services: Accounting | $3,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,055,574 |
| Advertising and promotion | $0 |
| Office expenses | $12,468 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,345 |
| Travel | $24,417 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,174 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $763 |
| All other expenses | $51 |
| Total functional expenses | $9,974,271 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $697,573 |
| Savings and temporary cash investments | $4,151,046 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $7,350 |
| 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 | $4,855,969 |
| Accounts payable and accrued expenses | $201,047 |
| Grants payable | $229,025 |
| 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 | $430,072 |
| Net assets without donor restrictions | $4,425,897 |
| 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 | $4,855,969 |
Grants Awarded
Over the last fiscal year, Vela Education Fund has awarded $2,720,500 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
Malden, MA PURPOSE: SUBGRANTS FOR PANDEMIC RELIEF | $700,000 |
New Olreans, LA PURPOSE: SUBGRANTS FOR PANDEMIC RELIEF | $465,000 |
Garden City, ID PURPOSE: SUBGRANTS FOR PANDEMIC RELIEF | $445,000 |
Purcellville, VA PURPOSE: SUBGRANTS FOR PANDEMIC RELIEF | $400,000 |
Wichita, KS PURPOSE: SUBGRANTS FOR PANDEMIC RELIEF | $154,500 |
Jackson, WY PURPOSE: GENERAL OPERATIONS | $150,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Vela Education Fund has recieved totaling $8,015,000.
| Awarding Organization | Amount |
|---|---|
The Seminar Network Inc Arlington, VA PURPOSE: General Operating Support | $7,915,000 |
Greater Houston Community Foundation Houston, TX PURPOSE: PUBLIC BENEFIT | $100,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Louisville Real Estate Foundation Louisville, KY | $156,388,720 | $20,770,834 |
Stifel Charitable Inc St Louis, MO | $132,307,100 | $94,589,551 |
Moose Charities Inc Mooseheart, IL | $5,385,966 | $15,548,845 |
Franciscan Sisters Of Chicago Service Corporation Lemont, IL | $62,771,138 | $13,923,865 |
Vela Education Fund Glencoe, IL | $4,855,969 | $13,247,569 |
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
Porter County Government Charitable Nonprofit Foundation Inc Valparaiso, IN | $195,277,590 | $7,720,193 |
Coxhealth Foundation Springfield, MO | $33,244,463 | $11,374,415 |
Bass Pro Shops & Cabelas Outdoor Fund Springfield, MO | $14,575,213 | $9,618,697 |
Community Foundation For The Land Of Lincoln Inc Springfield, IL | $62,800,465 | $16,636,147 |
Steve Stricker American Family Insurance Foundation Inc Madison, WI | $5,745,517 | $4,719,862 |
Chicago Cubs Charities Chicago, IL | $11,765,252 | $2,315,259 |