Vela Institute Inc
- Assets
- $124.5k
- Revenue
- $736.4k
- Investments
- $0.0
- Employees
- 19
- Location
- Boone, NC
- Founding
- 06/2018
- Data as of
- 12/2021
- EIN
- 82-2827429
Organization Overview
Vela Institute Inc is located in Boone, NC. The organization was established in 2018. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 12/2021, Vela Institute Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vela Institute 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 12/2021, Vela Institute Inc generated $736.4k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 44.5% each year . All expenses for the organization totaled $672.1k during the year ending 12/2021. While expenses have increased by 39.0% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE EDUCATION BY FINDING EFFECTIVE SOLUTIONS, MAKING THESE SOLUTIONS READILY AVAILABLE TO IMPACT PRACTICE AND POLICY AND PROMOTING A CULTURE OF EVIDENCE-BASED DECISION MAKING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO IMPROVE EDUCATION BY FINDING EFFECTIVE SOLUTIONS, MAKING THESE SOLUTIONS READILY AVAILABLE TO IMPACT PRACTICE AND POLICY AND PROMOTING A CULTURE OF EVIDENCE-BASED DECISION MAKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Wilson-Kearse Executive Director | Officer | 40 | $86,400 |
Dr Brian Griepentrop Board Chair | OfficerTrustee | 2 | $0 |
Joni Petschauer Board Member | Trustee | 2 | $0 |
Dianne Griggs Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $82,385 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $82,385 |
| Total Program Service Revenue | $653,966 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $736,351 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $86,400 |
| Compensation of current officers, directors, key employees. | $4,320 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $427,615 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $32,044 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $13,500 |
| Office expenses | $1,073 |
| Information technology | $64,219 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,340 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $37,954 |
| Total functional expenses | $672,143 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $124,491 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $124,491 |
| Accounts payable and accrued expenses | $12,500 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $149,900 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $162,400 |
| Net assets without donor restrictions | -$37,909 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $124,491 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Vela Institute Inc has recieved totaling $20,225.
| Awarding Organization | Amount |
|---|---|
Bill & Melinda Gates Foundation Seattle, WA PURPOSE: POSTSECONDARY EDUCATION | $20,225 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
University Of Virginia Alumni Association Charlottesville, VA | $556,619,387 | $55,406,167 |
Georgia Tech Alumni Association Inc Atlanta, GA | $3,190,672 | $7,936,222 |
General Alumni Assoc Chapel Hill, NC | $118,995,183 | $8,416,070 |
North Carolina State University Alumni Association Raleigh, NC | $63,898,145 | $4,644,432 |
University Of South Carolina Alumni Association Columbia, SC | $23,424,726 | $5,528,924 |
Medical College Of Va Alumni Assoc Of Virginia Commonwealth Univ Richmond, VA | $0 | $190,238 |
Clemson Alumni Association Clemson, SC | $16,585,557 | $2,139,290 |
Virginia Commonwealth Universi ALUMNI Richmond, VA | $0 | $210,514 |
Duke Alumni Association Inc Durham, NC | $792,785 | $1,542,394 |
The Citadel Alumni Association Charleston, SC | $12,996,112 | $2,040,375 |
V M I Alumni Association Lexington, VA | $3,901,860 | $1,387,698 |
The William & Mary Alumni Association Williamsburg, VA | $17,614,016 | $1,967,274 |