Overview
What is Vela Institute Inc?
Vela Institute Inc, located at 237 Chestnut Hill Drive, Boone, NC 28607, is a nonprofit organization committed to enhancing education. Their primary mission is to discover effective educational solutions, making these solutions readily accessible to impact practice and policy, and promoting a culture of evidence-based decision-making. With a workforce of 14 individuals, Vela Institute Inc strives to positively influence education on a broad scale. They are not a grant-providing organization like UNICEF USA, nor do they offer direct services like Autism Speaks or the Partnership Against Domestic Violence, but rather, they focus on research and advocacy to improve education across various sectors.
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars, 64%)
The Vela Institute Inc has received a Two-Star rating from Charity Navigator, indicating a need for improvement in certain areas of its operations. While the organization excels in accountability and finance, achieving a perfect score of 100%, there are significant concerns regarding the availability of financial statements and its liabilities to assets ratio, which stands at 114.21%. This highlights potential financial instability that could affect its sustainability.
Strengths of the organization include its fully independent board, with all members maintaining a conflict of interest policy, and comprehensive governance practices such as a whistleblower policy and proper document retention protocols. Additionally, the high program expense ratio of 92.19% suggests that a significant portion of its expenses is directed towards its programs, which is a positive indicator of the organization's commitment to its mission.
However, the absence of financial statements and the lack of a posted tax form on its website raise transparency issues. Stakeholders may find it challenging to evaluate the overall financial health of Vela Institute Inc without this critical information. Overall, while the organization demonstrates strong governance and programmatic investment, it must address its financial reporting deficiencies to improve its rating and public trust.
This AI summary has been generated from information found on Charity Navigator.
Is Vela Institute Inc legitimate?
Vela Institute Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vela Institute Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $135,890
Professional Fundraising Fees: $0
Other Salaries and Wages: $473,376
For more financial information, click here
What is the mission statement of Vela Institute Inc?
The mission of Vela Institute Inc, in its pursuit to enhance education, is centered around discovering effective solutions. These solutions are then made readily accessible to influence practice and policy, thereby promoting a culture that encourages evidence-based decision making. The institute aims to make a significant impact in the field of education by making these solutions widely available.
Who is the CEO of Vela Institute Inc?
Jennifer Wilson-Kearse is the Board Chair of Vela Institute Inc.
What is the revenue of Vela Institute Inc?
Vela Institute Inc's revenue in 2022 was $978,998.
Who are the executives of Vela Institute Inc and what are their salaries?
The average compensation at Vela Institute Inc during 2022 was $43,519. There are 14 employees at Vela Institute Inc.
Here are 6 key members and their salaries:
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- Compensation: $135,889
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- Other: $0
- Compensation: $135,730
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- Compensation: $114,600
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- Other: $0
Where can I find the form 990 for Vela Institute Inc?
Vela Institute Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Vela Institute Inc
Vela Institute Inc is committed to improving education by pursuing effective solutions. This nonprofit organization strives to make these solutions readily available, aiming to influence practice and policy. Furthermore, Vela Institute Inc works tirelessly to promote a culture of evidence-based decision making, ensuring that educational improvements are grounded in solid data and research. In essence, Vela Institute Inc serves as a catalyst for innovative and data-driven educational improvements, fostering an environment where evidence guides decision making for the betterment of education.
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Impact
July, 2024
Vela Institute Inc's impact lies in its efforts to improve education by identifying effective solutions, making them readily available to influence practice and policy, and promoting a culture of evidence-based decision making. Through its mission, Vela Institute Inc is working towards enhancing educational practices, policies, and decision-making processes to ultimately drive positive change in the field of education.
This information is meant to be a general summary of Vela Institute Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Program Service Revenue: $978,998
- Gross Receipts: $978,998
Assets and Liabilities:
- Total Assets: $131,247
- Total Liabilities: $149,900
- Net Assets: -$18,653
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
IMPROVING EDUCATION
Revenue
$978,998
Organization Details
Founding Year
2017
Phone
(828) 719-7116Principal Officer
Jennifer Wilson-Kearse
Main Address
237 CHESTNUT HILL DRIVE, BOONE, NC, 28607
NTEE Category
Code: B84 - Education
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