Nonprofit · EIN 85-1204073
VELOS ORGANIZATION INC
Tax-exempt · SIMPSONVILLE, SC 29681
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 (amended) | $261,433 | $221,737 | $39,696 | $176,592 | $0 | $176,592 |
| December 31, 2023 | 990 | $249,918 | $209,601 | $40,317 | $136,896 | $0 | $136,896 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $72
- Program service revenue
- $261,274
- Investment income
- $87
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $700
- Occupancy
- $9,190
- Program services (functional)
- $220,987
- Management and general (functional)
- $750
Balance sheet and other
- Total assets, start of year
- $136,896
- Total assets, end of year
- $176,592
- Total liabilities, end of year
- $0
- Net assets, end of year
- $176,592
- Net assets without donor restrictions
- $176,592
- Gross unrelated business income
- $87
- Gross receipts
- $261,433
- Employees
- 0
- Volunteers
- 4
- Year formed
- 2020
- State of legal domicile
- SC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Colleen A Pusateri | President Officer | 7 | $0 |
| Patrick A Pusateri | Vice-President Officer | 7 | $0 |
| Cole A Pusateri | Treasurer Officer | 7 | $0 |
| Anita J Zimmerman | Secretary Officer | 7 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Colleen A Pusateri | President Officer | 7 | $0 |
| Patrick A Pusateri | Vice-President Officer | 7 | $0 |
| Cole A Pusateri | Treasurer Officer | 7 | $0 |
| Anita J Zimmerman | Secretary Officer | 7 | $0 |
Address and contacts
- Address (IRS master file)
- 3003 E GEORGIA RD, SIMPSONVILLE, SC 29681-4367
- In care of
- % COLLEEN PUSATERI
- Principal officer (990 for 2024)
- Colleen A Pusateri, 3003 E Georgia Road, Simpsonville, SC 29681
- Signed the 990
- Colleen A Pusateri, President
- Phone
- (828) 577-1187
- Return prepared by
- Morris Accounting PC
Mission
Velos provides opportunities for children & youth to participate in a wide range of recreational, cultural, social, & civic activities, as well as allowing them to explore their talents and interests through life-skills classes.
Program accomplishments
- Velos Archery, Collective, & Volleyball offer various ages of archery and other classes to provide a place for community, fellowship, and encouragement among youth.Expenses $220,987 · revenue $261,274
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-1204073
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2020
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Youth development (O50)
- Assets (IRS master file)
- $176,592
- Income (IRS master file)
- $261,433
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $261,433 | $221,737 | $176,592 | XML |
| 990 | December 2023 | $249,918 | $209,601 | $136,896 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-1204073).
Questions about VELOS ORGANIZATION INC
- What is the EIN of VELOS ORGANIZATION INC?
- The employer identification number (EIN) of VELOS ORGANIZATION INC is 85-1204073.
- Is VELOS ORGANIZATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2020.
- Are donations to VELOS ORGANIZATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VELOS ORGANIZATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VELOS ORGANIZATION INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VELOS ORGANIZATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of VELOS ORGANIZATION INC?
- The 990 for the year ended December 31, 2024 names Colleen A Pusateri.
- Who are the officers and directors of VELOS ORGANIZATION INC?
- The 990 for the year ended December 31, 2024 lists 4 people; 0 received compensation from the organization.
- How much revenue does VELOS ORGANIZATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $261,433, expenses of $221,737 and total assets of $176,592 at year end.
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