Vela

Analysis

Vela is a registered charity in United States, based in Austin, TX. It received its IRS tax-exemption ruling in July 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Vela reported income of $368k and spending of $533k, spending 145% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $283k to $368k (+30%), an average of +6.8% a year. The sharpest change came in the year to December 2022, when income rose by 193%. Over the whole period it spent 79% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Vela sits at the 64th percentile: it is larger than about 64% of them. Against every charity in United States with reported income it ranks in the 65th percentile, and in the 70th percentile within TX. Charities of a similar size with the same main cause include Piaa Foundation ($368k), McNeil Band Boosters Inc ($368k) and Greater Impact Inc ($368k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 103% and program service revenue 2.0% of the total. Compensation of current officers, directors and key employees was $84k (16% of expenses). Other salaries and wages came to $248k. At year end it held assets of $559k against liabilities of $7,021, net assets of $552k. It reported 7 employees.