The Vela Foundation
- Assets
- $0.0
- Revenue
- $345.4k
- Investments
- $7.0m
- Employees
- 0
- Location
- Osterville, MA
- Founding
- 07/2008
- Data as of
- 12/2021
- EIN
- 20-8117214
Organization Overview
The Vela Foundation is located in Osterville, MA. The organization was established in 2008. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vela Foundation 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 Foundation generated $345.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (33.8%) each year. All expenses for the organization totaled $600.7k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Vela Foundation has awarded 84 individual grants totaling $1,434,805. 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.
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Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $76 |
| Dividends & Interest | $65,770 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,996 |
| Total Revenue | $345,390 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Pension plans, employee benefits | $0 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Total operating and administrative expenses | $155,681 |
| Contributions, gifts, grants paid | $445,000 |
| Total expenses and disbursements | $600,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,999,812 |
| Other assets | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Vela Foundation has awarded $525,000 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
ADOPT-A-FAMILY PURPOSE: GENERAL USE | $25,000 |
ALBERTUS MAGNUS HIGH SCHOOL PURPOSE: GENERAL USE | $50,000 |
BARNSTABLE CLEAN WATER COALITION PURPOSE: GENERAL USE | $5,000 |
BARNSTABLE LAND TRUST PURPOSE: GENERAL USE | $10,000 |
BOSTON MEDICAL CENTER PURPOSE: GENERAL USE | $100,000 |
CAPE ABILITIES PURPOSE: GENERAL USE | $5,000 |