Vela Youth Fund Inc

Analysis

Vela Youth Fund Inc is a registered charity in United States, based in Palm Desert, CA. It received its IRS tax-exemption ruling in October 2016, 10 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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 March 2024, Vela Youth Fund Inc reported income of $73k and spending of $41k, leaving 44% of income unspent that year. Across the 2 years on record, from March 2023 to March 2024, income grew from $30k to $73k (+139%), an average of +139% a year. The sharpest change came in the year to March 2024, when income rose by 139%. Over the whole period it spent 67% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Vela Youth Fund Inc sits at the 26th percentile: it is larger than about 26% of them. Against every charity in United States with reported income it ranks in the 29th percentile, and in the 31st percentile within CA. Charities of a similar size with the same main cause include Water4life Guatemala ($73k), Cambodian Outreach Project ($73k) and Wings of Hope International ($73k).

On its Form 990-EZ for the period ending March 2024, revenue came from contributions and grants 93% of the total. At year end it held assets of $96k against liabilities of $0, net assets of $96k.