Overview
What is Vela Education Fund?
The Vela Education Fund, based in Glen Ellyn, Illinois, is a nonprofit organization committed to promoting innovation and opportunity in education for every learner. By supporting everyday entrepreneurs, they facilitate the creation and expansion of community-based, non-traditional learning models. The Fund actively encourages community-building, knowledge-sharing, and resource-pooling among its network of innovators. Vela Education Fund's primary mission includes developing custom education programs to meet families' unique learning needs, expanding awareness of non-traditional educational approaches, and accelerating their adoption within families and communities. With a team of nine dedicated individuals, the organization is making a significant impact on the educational landscape.
Official website here: www.velaedfund.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 92% (Four-Star out of Four Star rating)
Vela Education Fund has received an impressive Four-Star rating from Charity Navigator, indicating a strong commitment to accountability and financial health. The organization scored 92% in the Accountability & Finance category, showcasing excellent governance practices and transparency in its operations. All board members are independent, and the organization adheres to comprehensive policies regarding conflict of interest, whistleblower protections, and document retention.
The financial metrics reflect Vela Education Fund's effective use of resources, with a remarkable program expense ratio of 98.69%, meaning that nearly all funds are directed towards its educational initiatives. Additionally, the organization has maintained a solid liabilities to assets ratio of 33.59%, suggesting a balanced and sustainable financial position. The fundraising efficiency is noted as exemplary, with no fundraising costs incurred, which further enhances the organization’s credibility.
While the data indicates strong overall performance, it does not specify additional programs or direct impacts on the community served by Vela Education Fund. However, the high accountability rating and the financial health of the organization suggest that it is well-positioned to make a positive impact within its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Vela Education Fund legitimate?
Vela Education Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vela Education Fund 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $894,590
For more financial information, click here
Official website here: www.velaedfund.org
What is the mission statement of Vela Education Fund?
The Vela Education Fund is dedicated to accelerating education innovation and opportunity for every learner. They achieve this by supporting everyday entrepreneurs in creating custom education programs that cater to families' unique learning needs. The fund also works towards increasing awareness of non-traditional education and encouraging its adoption by more families and communities. Through various initiatives, Vela Education Fund facilitates community-building, knowledge-sharing, and resource-sharing among entrepreneurs. They also employ storytelling, research, and community events to raise awareness of non-traditional education models. To date, the fund has made 688 grants to foster the development and expansion of community-based non-traditional learning models.
Official website here: www.velaedfund.org
Who is the CEO of Vela Education Fund?
Unavailable
Official website here: www.velaedfund.org
What is the revenue of Vela Education Fund?
Vela Education Fund's revenue in 2022 was $16,079,595.
Official website here: www.velaedfund.org
Who are the executives of Vela Education Fund and what are their salaries?
The average compensation at Vela Education Fund during 2022 was $99,399. There are 9 employees at Vela Education Fund.
Here are 12 key members and their salaries:
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- Compensation: $109,736
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- Other: $4,320
- Compensation: $291,850
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- Other: $40,883
- Compensation: $118,646
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- Other: $16,502
- Compensation: $128,368
- Related: $0
- Other: $17,352
Official website here: www.velaedfund.org
Where can I find the form 990 for Vela Education Fund?
Vela Education Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.velaedfund.org
Learn more at the official website: www.velaedfund.org
Mission Statement of Vela Education Fund
The Vela Education Fund is a dynamic organization dedicated to accelerating education innovation and opportunity for every learner. By supporting everyday entrepreneurs who create and expand community-based non-traditional learning models, Vela bridges the gap between families' unique educational needs and the availability of customized programs.
In pursuit of its mission, Vela Education Fund has made 688 grants, enabling the growth and development of diverse learning environments tailored to meet the needs of various communities. The organization fosters a vibrant community of entrepreneurs, facilitating knowledge-sharing, resource-sharing, and community-building through events and collaborative initiatives.
Moreover, Vela Education Fund raises awareness of non-traditional education by sharing compelling stories, conducting research, and hosting informative events. Through these efforts, Vela encourages a broader understanding and acceptance of innovative educational approaches, ultimately increasing their adoption by more families and communities.
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Impact
October, 2024
Vela Education Fund has made a significant impact by facilitating the creation and expansion of community-based non-traditional learning models. Through 688 grants, it has supported everyday entrepreneurs in developing customized education programs tailored to the unique needs of families and learners. The initiative has increased awareness of non-traditional education options, enabling more families and communities to explore innovative educational pathways.
By fostering community-building, knowledge-sharing, and resource-sharing among its network of entrepreneurs, Vela has created a vibrant ecosystem for non-traditional education. Their efforts in storytelling, research, and community events have further enhanced understanding and acceptance of alternative educational approaches. This comprehensive approach accelerates education innovation and expands opportunities for diverse learners, enriching the educational landscape across various communities.
This information is meant to be a general summary of Vela Education Fund. 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.
- Investment Income: $4,217
- Gross Receipts: $16,079,595
Assets and Liabilities:
- Total Assets: $8,295,380
- Total Liabilities: $2,786,611
- Net Assets: $5,508,769
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Organization Details
Founding Year
2020
Phone
(504) 250-7715Main Address
361 PARK AVE 203, GLENCOE, IL, 60022
Website
www.velaedfund.orgNTEE Category
Code: T30 - Philanthropy
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