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Vela Education Fund
Vela Education Fund reported $18.9 million in revenue and $11.5 million in expenses for calendar year 2024. Of every $100 it spent, $88.45 went to program services, $8.62 to management and general costs and $2.93 to fundraising. Its largest source of revenue was contributions and grants: 95.9% of the total. The highest compensation it reported for one person was $406,779 (CHIEF OF OPERATIONS). 5 people received more than $100,000 in reportable compensation. Revenue rose 314% between 2020 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $11MFor context, the median across 1,001 covered philanthropy, voluntarism & grantmaking charities: $91.65 programs, $6.50 management, $1.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $19MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 88.4% | 90.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 8.6% | 6.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 2.9% | 1.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.02 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 95.9% | 79.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.3% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $406,779 | $325,675 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.55% | 1.56% |
| People paid over $100,000 Part VII, line 2 | 5 | 3 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 19.3 | 56.6 |
| Independent voting board members Part VI 1a–1b | 3 of 3 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseVela Education Fund made 500 grants to support the creation or expansion of community-based nontraditional 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
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| CHIEF OF OPERATIONS Highest compensated employee, 50.0 hrs/week | $367,017 | $0 | $39,762 | $406,779 |
| DIRECTOR-BRAND AND COMMUNICATIONS Highest compensated employee, 50.0 hrs/week | $206,040 | $0 | $21,388 | $227,428 |
| DIRECTOR OF PROGRAMS Highest compensated employee, 50.0 hrs/week | $170,600 | $0 | $22,506 | $193,106 |
| Director of Product Strategy Highest compensated employee, 50.0 hrs/week | $139,388 | $0 | $18,392 | $157,780 |
| DIRECTOR OF COMMUNITY Highest compensated employee, 50.0 hrs/week | $112,997 | $0 | $19,066 | $132,063 |
5 people received more than $100,000 in reportable compensation from Vela Education Fund (Part VII, line 2).
5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b3 · 3 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 59
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| CCDC Hotel LLC dba Conrad Washington DC Hotel Meeting Conference Expense | $536,496 |
| Clevyr Inc Web Platform | $454,985 |
| Bounteous Inc Web Platform | $418,513 |
| North Third Partners LLC Consulting | $400,000 |
| Wild Reply LLC Media Production | $397,600 |
Individuals listed as contractors are left out. 7 contractors were paid more than $100,000 in all.
Private foundation grants it received
5 private foundations reported grants to Vela Education Fund totaling $7.1M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Vela Education Fund's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Vela Education Fund, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Vela Education Fund spent in 2024, $88.45 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Vela Education Fund's spending goes to programs?
In calendar year 2024, Vela Education Fund reported that 88.4% of its $11.5 million in expenses went to program services, 8.6% to management and general and 2.9% to fundraising (Form 990, Part IX).
How much does Vela Education Fund pay its top executive?
The largest total compensation Vela Education Fund reported for one person in calendar year 2024 was $406,779, for the role of CHIEF OF OPERATIONS (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Vela Education Fund get its money?
Of $18.9 million in revenue in calendar year 2024, 95.9% came from contributions and grants and 0.3% from program service revenue (Form 990, Part VIII).
Is Vela Education Fund a registered charity?
The IRS lists EIN 84-4185046 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202503219349315325 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202403209349301425 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303199349301955 · read the filing
- 2021: Form 990 for calendar year 2021, object 202233199349324038 · read the filing
- 2020: Form 990 for calendar year 2020, object 202113199349307096 · read the filing
All filings for EIN 84-4185046: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.