Vela Youth Fund Inc
- Assets
- $95.9k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Palm Desert, CA
- Founding
- 10/2016
- Data as of
- 03/2024
- EIN
- 38-4007720
Organization Overview
Vela Youth Fund Inc is located in Palm Desert, CA. The organization was established in 2016. According to its NTEE Classification (Q20) the organization is classified as: Promotion of International Understanding, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vela Youth Fund Inc 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 03/2024, Vela Youth Fund Inc generated $72.7k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 30.5% each year . All expenses for the organization totaled $40.8k during the year ending 03/2024. While expenses have increased by 38.2% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3
#28 - PROVIDED $3,750 TO OUR 501C3 PARTNER THE ELVA STOKES RIGGINS SCHOLARSHIP FUND. THIS PROVIDED SCHOLARSHIPS TO FOUR DESERVING BLACK HIGH SCHOOL GRADUATES WHO ENTERED COLLOGE IN 2021& 2000. #29 - DONATED $250 TO THE OBAMA FOUNDATION WHICH PROVIDES LEADERSHIP, RESOURCES & GUIDANCE TO MANY NON-PROFITS SUPPORTING BLACK YOUTH DEVELOPMENT, & PROVIDES SCHOLARSHIPS. THEY HELP MANY STUDENTS. #31 - EXPENDED $29,431 IN FUNDS TOWARD THE PREVIOUSLY DESCRIBED VELA BLACK YOUTH DEVELOPMENT PROGRAM
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Earl Mitchell Chairman And Treasurer | 20 | $0 | |
Sandra Mitchell President And Secretary | 20 | $0 | |
Joan White VP Donor Partnerships | 15 | $0 | |
Eleanor Mitchell VP International Partnerships | 15 | $0 | |
Candacie Riggins VP Research And Statistics | 10 | $0 | |
Earl Dixon VP Faith Based Partnerships | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $67,879 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $3,050 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $1,748 |
| Other Revenue | $0 |
| Total Revenue | $72,677 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $12,453 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $498 |
| Other expenses | $381 |
| Total expenses | $40,832 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $95,945 |
| Other assets | $0 |
| Total assets | $95,945 |
| Total liabilities | $0 |
| Net assets or fund balances | $95,945 |