2024-11-15T04:02:38+00:00 2023-12-31 440160260 Forvis Mazars LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2023-01-01 844185046 VELA Education Fund VELA 5042507715 361 PARK AVE 203 GLENCOE IL 60022 KARA HARTNETT TREASURER 5042507715 2024-11-15 true true Michael Engle P00482834 8162216300 2024-05-15 2023 2024-10-15 13:58:12Z MEREDITH OLSON 361 PARK AVE 203 GLENCOE IL 60022 18518008 false X WWW.VELA.ORG X 2020 DE CUSTOM EDUCATION PROGRAMS TO MEET FAMILIES LEARNERS' NEEDS, INCREASING AWARENESS OF NONTRADITIONAL EDUCATION, AND ACCELERATING ADOPTION BY MORE FAMILIES AND COMMUNITIES. 5 5 8 0 0 0 16075378 18052745 0 4217 465263 0 16079595 18518008 12714332 10706082 0 1046037 1629749 0 0 1236354 1253171 14996723 13589002 1082872 4929006 8295380 13520815 2786611 3083040 5508769 10437775 THE VELA EDUCATION FUND EXISTS TO ACCELERATE EDUCATION INNOVATION AND OPPORTUNITY FOR EVERY LEARNER BY: SUPPORTING EVERYDAY ENTREPRENEURS BUILDING CUSTOM EDUCATION PROGRAMS TO MEET FAMILIES LEARNERS' NEEDS, INCREASING AWARENESS OF NONTRADITIONAL EDUCATION, AND ACCELERATING ADOPTION BY MORE FAMILIES AND COMMUNITIES. false false 13421387 10706082 0 VELA EDUCATION FUND MADE 699 GRANTS TO SUPPORT THE CREATION OR EXPANSION OF COMMUNITY-BASED NON-TRADITIONAL LEARNING MODELS. VELA FACILITATED COMMUNITY-BUILDING, KNOWLEDGE-SHARING, AND RESOURCE-SHARING AMONGST ITS COMMUNITY OF ENTREPRENEURS AND INCREASED AWARENESS OF NONTRADITIONAL EDUCATION THROUGH STORYTELLING, RESEARCH, AND COMMUNITY EVENTS. 13421387 true true false false false false false false false false false false false false true true false false false true true false false false false false true true true false false false false false false false false false false false false false false false false false true 390 0 8 true false false false false false false false false false false false false X 5 5 false false false false true true true true true false false true true true true true true false false false X HENRICH HEUER 7032147118 4201 WILSON BLVD SUITE 800 ARLINGTON VA 22203 X MEREDITH OLSON BOARD MEMBER/EXEC DIRECTOR 1.0 0.0 X X 0 0 0 CALEB OFFLEY BOARD MEMBER 1.0 0.0 X 0 0 0 DEREK JOHNSON BOARD MEMBER 1.0 0.0 X 0 0 0 EDWARD HUI BOARD MEMBER 1.0 0.0 X 0 0 0 LARRY TODD ROSE BOARD MEMBER 1.0 0.0 X 0 0 0 BRIAN MENKES SECRETARY 1.0 0.0 X 0 0 0 KARA HARTNETT TREASURER (OUTGOING) 1.0 0.0 X 0 0 0 BETH SELING CHIEF OF OPERATIONS 50.0 0.0 X 341816 0 39732 LAUREN GREVEL DIRECTOR OF PROGRAMS 50.0 0.0 X 160513 0 20526 LINDSEY KELLY DIRECTOR-BRAND AND COMMUNICATIONS 50.0 0.0 X 181446 0 18295 NATALIE LARAQUE Director of External Affairs 50.0 0.0 X 207386 0 21851 SHAINA BELTON DIRECTOR OF COMMUNITY 50.0 0.0 X 146414 0 23611 1037575 0 124015 6 false true false NORTH THIRD PARTNERS LLC 1313 STONEOAK DRIVE MCKINNEY TX 75072 CONSULTING 440000 1 18052745 18052745 0 0 0 0 0 465263 465263 0 0 0 0 0 0 0 0 0 18518008 0 0 465263 9156082 9156082 1345000 1345000 205000 205000 1392607 1275487 117120 60217 56177 4040 76073 76073 100852 94605 6247 19370 19370 970050 970050 0 0 18966 18966 12654 2794 9860 161437 161437 41938 41938 8979 8979 MEDIA 7778 7778 MISCELLANOUS 11999 10000 1999 0 0 0 0 13589002 13421387 167615 0 1975389 6009688 12905591 302995 300000 0 0 0 0 7308 65224 0 0 0 0 0 250000 0 0 0 8295380 13520815 371611 457952 2415000 2625088 0 0 0 0 2786611 3083040 X 4511269 8708655 997500 1729120 5508769 10437775 8295380 13520815 4929006 0 X false true X true false X 4566567 13244860 16075378 18052745 51939550 0 0 0 4566567 13244860 16075378 18052745 51939550 16355031 35584519 4415 2709 4217 465263 476604 0 0 0 0 0 0 0 52416154 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 19474654 956646 0 956646 18518008 0 0 18518008 14568148 956646 22500 979146 13589002 0 0 13589002 Schedule D, Part X FIN 48 (ASC 740) FOOTNOTE MANAGEMENT HAS EVALUATED THE INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 GRANTS ADJUSTMENT - 22500 true Europe (Including Iceland and Greenland) 0 0 Grantmaking 205000 0 0 0 0 0 0 205000 0 205000 Europe (Including Iceland and Greenland) GENERAL OPERATING 205000 EFT 1 0 false false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds THE GRANT AWARD LETTERS PROHIBIT THE GRANTEE FROM USING THE GRANT FUNDS FOR LOBBYING AND POLITICAL PURPOSES, AND MAY REQUIRE THE GRANTEE TO FURNISH A REPORT TO THE ORGANIZATION DESCRIBING THE CHARITABLE AND EDUCATIONAL ACTIVITIES IN CONNECTION WITH THE ORGANIZATION'S EDUCATIONAL PROGRAMS FULFILLED BY THE USE OF GRANT FUNDS. Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual Schedule F, Part II, Line 1 Method used to account for expenditures on org's financial statements EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual true SEE ATTACHED 361 PARK AVE GLENCOE IL 60022 9031084 SUPPORT 297 217 Individual Grantmaking Program 148 1345000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE FILING ORGANIZATION DISTRIBUTES GRANTS IN ACCORDANCE WITH THE CHARITABLE PURPOSE OF THE ORGANIZATION. ALL GRANTS WERE MADE PURSUANT TO THE REQUIREMENT THAT THEY BE EXPENDED EXCLUSIVELY FOR CHARITABLE PURPOSES, REGARDLESS OF TAX STATUS OF THE RECIPIENT. IF APPLICABLE, THE ORGANIZATION REVIEWS RECIPIENT'S FORM 990, IRS TAX EXEMPTION LETTER, AND VALIDATES THE RECIPIENT'S TAX ID NUMBER. ADEQUATE DOCUMENTATION IS RETAINED FOR ALL GRANTS. false false false false false false false true false BETH SELING CHIEF OF OPERATIONS 339736 0 2080 0 0 0 14942 0 24790 0 381548 0 0 0 LINDSEY KELLY DIRECTOR-BRAND AND COMMUNICATIONS 179366 0 2080 0 0 0 3700 0 14595 0 199741 0 0 0 LAUREN GREVEL DIRECTOR OF PROGRAMS 158433 0 2080 0 0 0 9854 0 10672 0 181039 0 0 0 NATALIE LARAQUE Director of External Affairs 205546 0 1840 0 0 0 0 0 21851 0 229237 0 0 0 SHAINA BELTON DIRECTOR OF COMMUNITY 144334 0 2080 0 0 0 7800 0 15811 0 170025 0 0 0 Schedule J, Part I, Line 7 Non-fixed payments INCENTIVE COMPENSATION IS BASED ON EXTRAORDINARY EFFORTS AND SERVICES PROVIDED TO THE ORGANIZATION, NOT BASED ON FINANCIAL RESULTS OF THE ORGANIZATION. Form 990, Part VI, Line 6 , 7A & 7B - CLASSES OF MEMBERS OR STOCKHOLDERS THE ORGANIZATION HAS TWO CLASS A MEMBERS. CLASS A MEMBERS HAVE THE POWER TO ELECT AND REMOVE AN EQUAL NUMBERS OF DIRECTORS. AMENDMENTS TO THE GOVERNING DOCUMENTS ARE SUBJECT TO THE WRITTEN CONSENT OF THE CLASS A MEMBERS. Form 990, Part VI, Line 11b Review of form 990 by governing body AN INDEPENDENT ACCOUNTING FIRM PREPARED AND REVIEWED THE FORM 990. A FULL DRAFT OF THE 990 ALONG WITH ALL REQUIRED SCHEDULES IS THEN PROVIDED TO BOARD MEMBERS, INTERNAL MANAGEMENT, AND LEGAL COUNSEL FOR REVIEW. ALL QUESTIONS ARE ADDRESSED AND ANY MODIFICATIONS ARE MADE, IF NECESSARY. IF TIME ALLOWS, THE FORM 990 AND ALL REQUIRED SCHEDULES WILL BE PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING. Form 990, Part VI, Line 12c Conflict of interest policy THE ORGANIZATION'S CONFLICT OF INTEREST POLICY COVERS PROPOSED TRANSACTIONS WHERE INTERESTED PERSONS (I.E., BOARD MEMBERS AND OFFICERS) MAY HAVE A FINANCIAL INTEREST IN A TRANSACTION BEING CONSIDERED BY THE BOARD OF DIRECTORS OR A COMMITTEE THEREOF. THE BOARD OR COMMITTEE THEREOF HAS VARIOUS OPTIONS TO ADDRESS THE PROPOSED TRANSACTION AND WHETHER IT PRESENTS A CONFLICT OF INTEREST, INCLUDING EVALUATING THE FAIRNESS OF THE TRANSACTION, WHETHER TO APPOINT A DISINTERESTED PERSON(S) OR COMMITTEE TO EVALUATE THE TRANSACTION, CONSULTING LEGAL COUNSEL, ETC. Form 990, Part VI, Line 19 Required documents available to the public VELA EDUCATION FUND MAKES DOCUMENTS AVAILABLE IN ACCORDANCE WITH IRS RULES.