VELA EDUCATION FUND

EIN: 844185046 501(c)(3) Philanthropy & Grantmaking

DEERFIELD, IL

Total Revenue
$18,940,669
Total Expenses
$11,450,200
Total Assets
$21,403,298
Net Assets
$18,455,242
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
DE
Phone
5042507715
Tax Period
2024-01-01 to 2024-12-31

VELA EDUCATION FUND, founded in 2020, is a mid-sized nonprofit in the Philanthropy & Grantmaking sector that reported $18.9M in total revenue in fiscal year 2024. The organization ran a surplus of $7.5M, a strong 40% operating margin.

Mission

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

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $18,171,446
Program Service Revenue $52,395
Investment Income $716,828
Other Revenue $0
TOTAL REVENUE $18,940,669

Expense Breakdown

Grants Paid $6,162,250
Salaries & Benefits $1,566,730
Fundraising Expenses $335,749
Program Expenses $10,127,054
Other Expenses $3,721,220
TOTAL EXPENSES $11,450,200

Year-over-Year Comparison

2024 2023 Change
Revenue $18,940,669 $18,518,008 +0.0%
Expenses $11,450,200 $13,589,002 -0.2%
Net Income $7,490,469 $4,929,006 +0.5%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
9
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MEREDITH OLSON BOARD MEMBER/EXEC DIRECTOR 1.0
Officer Director
$0 $0 $0
CALEB OFFLEY BOARD MEMBER (Outgoing) 1.0
Director
$0 $0 $0
DEREK JOHNSON BOARD MEMBER 1.0
Director
$0 $0 $0
EDWARD HUI BOARD MEMBER (Outgoing) 1.0
Director
$0 $0 $0
TODD ROSE BOARD MEMBER 1.0
Director
$0 $0 $0
Henrich Heuer TREASURER 1.0
Officer
$0 $0 $0
Weston Edwards SECRETARY 1.0
Officer
$0 $0 $0
Ashley Ho Director of Product Strategy 50.0
Highest
$139,388 $18,392 $157,780
ELIZABETH SELING CHIEF OF OPERATIONS 50.0
Highest
$367,017 $39,762 $406,779
LAUREN GREVEL DIRECTOR OF PROGRAMS 50.0
Highest
$170,600 $22,506 $193,106
LINDSAY KELLY DIRECTOR-BRAND AND COMMUNICATIONS 50.0
Highest
$206,040 $21,388 $227,428
SHAINA BELTON DIRECTOR OF COMMUNITY 50.0
Highest
$112,997 $19,066 $132,063
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $18,940,669 $11,450,200 $21,403,298 $7,490,469
2023 $18,518,008 $13,589,002 $13,520,815 $4,929,006
2022 $16,079,595 $14,996,723 $8,295,380 $1,082,872
2021 $13,247,569 $9,974,271 $4,855,969 $3,273,298
2020 $4,570,982 $3,418,383 $1,305,580 $1,152,599
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