VELA EDUCATION FUND: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: VELA EDUCATION FUND (EIN 84-4185046)
Tax period: 2022-01-01 to 2022-12-31
Filed: 2023-11-15
IRS object ID: 202303199349301955
Schema version: 2022v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule D
Schedule I
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2023-11-15T06:44:11+00:00	ReturnTs
Tax Period End	2022-12-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	440160260	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	FORVIS LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1201 WALNUT SUITE 1700	AddressLine1Txt
City	KANSAS CITY	CityNm
State Abbreviation	MO	StateAbbreviationCd
ZIP	641062246	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2022-01-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	844185046	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	VELA Education Fund	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Business Name Control	VELA	BusinessNameControlTxt
Phone	5042507715	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	361 PARK AVE 203	AddressLine1Txt
City	GLENCOE	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60022	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	KARA HARTNETT	PersonNm
Person Title	TREASURER	PersonTitleTxt
Phone	5042507715	PhoneNum
Signature	2023-11-15	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	BRIAN	PersonFirstNm
Person Last	MENKES	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	MICHAEL J ENGLE	PreparerPersonNm
PTIN	P00482834	PTIN
Phone	8162216300	PhoneNum

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Principal Ofcr Business Name PrincipalOfcrBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	MEREDITH OLSON	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	361 PARK AVE 203	AddressLine1Txt
City	GLENCOE	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60022	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$16,079,595	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	WWW.VELAEDFUND.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	2020	FormationYr
Legal Domicile State	DE	LegalDomicileStateCd
Activity Or Mission	CUSTOM EDUCATION PROGRAMS TO MEET FAMILIES LEARNERS' NEEDS, INCREASING AWARENESS OF NONTRADITIONAL EDUCATION, AND ACCELERATING ADOPTION BY MORE FAMILIES AND COMMUNITIES.	ActivityOrMissionDesc
Voting Members Governing Body	4	VotingMembersGoverningBodyCnt
Voting Members Independent	4	VotingMembersIndependentCnt
Total Employee	9	TotalEmployeeCnt
Total Volunteers	0	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$13,244,860	PYContributionsGrantsAmt
CY Contributions Grants	$16,075,378	CYContributionsGrantsAmt
CY Program Service Revenue	$0	CYProgramServiceRevenueAmt
PY Investment Income	$2,709	PYInvestmentIncomeAmt
CY Investment Income	$4,217	CYInvestmentIncomeAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$13,247,569	PYTotalRevenueAmt
CY Total Revenue	$16,079,595	CYTotalRevenueAmt
PY Grants And Similar Paid	$8,478,775	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$12,714,332	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$377,050	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$1,046,037	CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$1,118,446	PYOtherExpensesAmt
CY Other Expenses	$1,236,354	CYOtherExpensesAmt
PY Total Expenses	$9,974,271	PYTotalExpensesAmt
CY Total Expenses	$14,996,723	CYTotalExpensesAmt
PY Revenues Less Expenses	$3,273,298	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$1,082,872	CYRevenuesLessExpensesAmt
Total Assets BOY	$4,855,969	TotalAssetsBOYAmt
Total Assets EOY	$8,295,380	TotalAssetsEOYAmt
Total Liabilities BOY	$430,072	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$2,786,611	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$4,425,897	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$5,508,769	NetAssetsOrFundBalancesEOYAmt
Mission	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.	MissionDesc
Significant New Program Srvc	false	SignificantNewProgramSrvcInd
Significant Change	false	SignificantChangeInd
Expense	$14,886,074	ExpenseAmt
Grant	$12,714,332	GrantAmt
Revenue	$0	RevenueAmt
Desc	VELA EDUCATION FUND MADE 688 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.	Desc
Total Program Service Expenses	$14,886,074	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	Yes (true)	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	false	LobbyingActivitiesInd
Donor Advised Fund	false	DonorAdvisedFundInd
Conservation Easements	false	ConservationEasementsInd
Collections Of Art	false	CollectionsOfArtInd
Credit Counseling	false	CreditCounselingInd
Donor Rstr Or Quasi Endowments	false	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	false	ReportLandBuildingEquipmentInd
Report Investments Other Sec	false	ReportInvestmentsOtherSecInd
Report Program Related Invst	false	ReportProgramRelatedInvstInd
Report Other Assets	false	ReportOtherAssetsInd
Report Other Liabilities	false	ReportOtherLiabilitiesInd
Include FIN48 Footnote	Yes (true)	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	Yes (true)	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	false	ConsolidatedAuditFinclStmtInd
School Operating	false	SchoolOperatingInd
Foreign Office	false	ForeignOfficeInd
Foreign Activities	false	ForeignActivitiesInd
More Than5000 K To Org	false	MoreThan5000KToOrgInd
More Than5000 K To Individuals	false	MoreThan5000KToIndividualsInd
Professional Fundraising	false	ProfessionalFundraisingInd
Fundraising Activities	false	FundraisingActivitiesInd
Gaming Activities	false	GamingActivitiesInd
Operate Hospital	false	OperateHospitalInd
Grants To Organizations	Yes (true)	GrantsToOrganizationsInd
Grants To Individuals	Yes (true)	GrantsToIndividualsInd
Schedule J Required	Yes (true)	ScheduleJRequiredInd
Tax Exempt Bonds	false	TaxExemptBondsInd
Engaged In Excess Benefit Trans	false	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	false	PYExcessBenefitTransInd
Loan Outstanding	false	LoanOutstandingInd
Grant To Related Person	false	GrantToRelatedPersonInd
Business Rln With Org Mem	false	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	false	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	false	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	false	DeductibleNonCashContriInd
Deductible Art Contribution	false	DeductibleArtContributionInd
Terminate Operations	false	TerminateOperationsInd
Partial Liquidation	false	PartialLiquidationInd
Disregarded Entity	false	DisregardedEntityInd
Related Entity	false	RelatedEntityInd
Related Organization Ctrl Ent	false	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	10	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Employee	9	EmployeeCnt
Employment Tax Returns Filed	Yes (true)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	false	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	false	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	false	ProhibitedTaxShelterTransInd
Taxable Party Notification	false	TaxablePartyNotificationInd
Nondeductible Contributions	false	NondeductibleContributionsInd
Quid Pro Quo Contributions	false	QuidProQuoContributionsInd
Form8282 Property Disposed Of	false	Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct	false	RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct	false	PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services	false	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	false	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	false	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	4	GoverningBodyVotingMembersCnt
Independent Voting Member	4	IndependentVotingMemberCnt
Family Or Business Rln	false	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	false	DelegationOfMgmtDutiesInd
Change To Org Documents	false	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	false	MaterialDiversionOrMisuseInd
Members Or Stockholders	Yes (true)	MembersOrStockholdersInd
Election Of Board Members	Yes (true)	ElectionOfBoardMembersInd
Decisions Subject To Approva	Yes (true)	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (true)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (true)	MinutesOfCommitteesInd
Officer Mailing Address	false	OfficerMailingAddressInd
Local Chapters	false	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (true)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (true)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (true)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (true)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (true)	WhistleblowerPolicyInd
Document Retention Policy	Yes (true)	DocumentRetentionPolicyInd
Compensation Process CEO	false	CompensationProcessCEOInd
Compensation Process Other	false	CompensationProcessOtherInd
Investment In Joint Venture	false	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	HENRICH HEUER	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	5712906811	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	4201 WILSON BLVD SUITE 800	AddressLine1Txt
City	ARLINGTON	CityNm
State Abbreviation	VA	StateAbbreviationCd
ZIP	22203	ZIPCd

Field	Value	IRS element (for citing)
No Listed Persons Compensated	Yes (X)	NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (12 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	OfficerOfficerInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	Highest Compensated EmployeeHighestCompensatedEmployeeInd
MEREDITH OLSON
BOARD MEMBER/EXEC DIRECTOR	1.0	0.0	Yes (X)	Yes (X)	$0	$0	$0
CALEB OFFLEY
BOARD MEMBER	1.0	0.0	Yes (X)		$0	$0	$0
DEREK JOHNSON
BOARD MEMBER	1.0	0.0	Yes (X)		$0	$0	$0
EDWARD HUI
BOARD MEMBER (INCOMING)	1.0	0.0	Yes (X)		$0	$0	$0
LARRY TODD ROSE
BOARD MEMBER	1.0	0.0	Yes (X)		$0	$0	$0
MARC STERNBERG
BOARD MEMBER (OUTGOING)	1.0	0.0	Yes (X)		$0	$0	$0
BRIAN MENKES
SECRETARY	1.0	0.0		Yes (X)	$0	$0	$0
KARA HARTNETT
TREASURER	1.0	0.0		Yes (X)	$0	$0	$0
ADAM EWING
SENIOR DIRECTOR OF STRATEGIC ADVANCEMENT	50.0	0.0			$109,736	$0	$4,320	Yes (X)
BETH SELING
CHIEF OF OPERATIONS	50.0	0.0			$291,850	$0	$40,883	Yes (X)
LAUREN GREVEL
MANAGER-ISSUE EDUCATION	50.0	0.0			$118,646	$0	$16,502	Yes (X)
SHAINA BELTON
DIRECTOR-ISSUE EDUCATION	50.0	0.0			$128,368	$0	$17,352	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$648,600	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$79,057	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	4	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (true)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (4 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
NORTH THIRD PARTNERS LLC
1313 STONEOAK DRIVE	MCKINNEY	TX	75072	CONSULTING	$464,000
BRENDAN LOWE
1936 SARANAC AVE SUITE 3 RM B126	LAKE PLACID	NY	12946	MEDIA SERVICES	$201,403
UNIVERSE CREATIVE
4433 CLAYTON AVENUE	LOS ANGELES	CA	90027	MEDIA SERVICES	$200,500
STAND TOGETHER CHAMBER OF COMMERCE INC
1320 N COURTHOUSE RD SUITE 500	ARLINGTON	VA	22201	ADMIN SERVICES	$109,839

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	4	CntrctRcvdGreaterThan100KCnt
All Other Contributions	$16,075,378	AllOtherContributionsAmt
Total Contributions	$16,075,378	TotalContributionsAmt

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt
Related Or Exempt Func Income	$0	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$0	ExclusionAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$0	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$4,217	TotalRevenueColumnAmt
Exclusion	$4,217	ExclusionAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$0	RealAmt
Personal	$0	PersonalAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$0	SecuritiesAmt
Other	$0	OtherAmt

Miscellaneous Revenue MiscellaneousRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$0	TotalRevenueColumnAmt
Related Or Exempt Func Income	$0	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$0	ExclusionAmt

Field	Value	IRS element (for citing)
Other Revenue Total	$0	OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$16,079,595	TotalRevenueColumnAmt
Related Or Exempt Func Income	$0	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$4,217	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$10,921,832	TotalAmt
Program Services	$10,921,832	ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$1,792,500	TotalAmt
Program Services	$1,792,500	ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$894,590	TotalAmt
Program Services	$813,762	ProgramServicesAmt
Management And General	$80,828	ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$42,537	TotalAmt
Program Services	$39,430	ProgramServicesAmt
Management And General	$3,107	ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$43,319	TotalAmt
Program Services	$43,319	ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$65,591	TotalAmt
Program Services	$61,342	ProgramServicesAmt
Management And General	$4,249	ManagementAndGeneralAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$85	TotalAmt
Management And General	$85	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$11,304	TotalAmt
Management And General	$11,304	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$1,009,474	TotalAmt
Program Services	$1,009,474	ProgramServicesAmt
Management And General	$0	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$10,338	TotalAmt
Program Services	$10,332	ProgramServicesAmt
Management And General	$6	ManagementAndGeneralAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$14,004	TotalAmt
Program Services	$2,934	ProgramServicesAmt
Management And General	$11,070	ManagementAndGeneralAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$52,072	TotalAmt
Program Services	$52,072	ProgramServicesAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$19,161	TotalAmt
Program Services	$19,161	ProgramServicesAmt

Other Expenses OtherExpensesGrp

Field	Value	IRS element (for citing)
Desc	MEDIA	Desc
Total	$119,916	TotalAmt
Program Services	$119,916	ProgramServicesAmt

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt
Program Services	$0	ProgramServicesAmt
Management And General	$0	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$14,996,723	TotalAmt
Program Services	$14,886,074	ProgramServicesAmt
Management And General	$110,649	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$697,573	BOYAmt
EOY	$1,975,389	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$4,151,046	BOYAmt
EOY	$6,009,688	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
EOY	$302,995	EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$7,350	BOYAmt
EOY	$7,308	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$0	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$0	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt

Other Assets Total OtherAssetsTotalGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$4,855,969	BOYAmt
EOY	$8,295,380	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$201,047	BOYAmt
EOY	$371,611	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$229,025	BOYAmt
EOY	$2,415,000	EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$0	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$430,072	BOYAmt
EOY	$2,786,611	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$4,425,897	BOYAmt
EOY	$4,511,269	EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
EOY	$997,500	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$4,425,897	BOYAmt
EOY	$5,508,769	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$4,855,969	BOYAmt
EOY	$8,295,380	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$1,082,872	ReconcilationRevenueExpnssAmt
Other Changes In Net Assets	$0	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	false	AccountantCompileOrReviewInd
FS Audited	Yes (true)	FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

Field	Value	IRS element (for citing)
Separate Basis Fincl Stmt	Yes (X)	SeparateBasisFinclStmtInd

Field	Value	IRS element (for citing)
Audit Committee	Yes (true)	AuditCommitteeInd
Federal Grant Audit Required	false	FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Public Organization170	Yes (X)	PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	$4,566,567	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$13,244,860	CurrentTaxYearMinus1YearAmt
Current Tax Year	$16,075,378	CurrentTaxYearAmt
Total	$33,886,805	TotalAmt

Tax Rev Levied Orgnztnl Bnft170 TaxRevLeviedOrgnztnlBnft170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Govt Furn Srvc Fclts Vl170 GovtFurnSrvcFcltsVl170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$0	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$0	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$4,566,567	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$13,244,860	CurrentTaxYearMinus1YearAmt
Current Tax Year	$16,075,378	CurrentTaxYearAmt
Total	$33,886,805	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$10,716,111	SubstantialContributorsTotAmt
Public Support Total170	$23,170,694	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus2 Years	$4,415	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$2,709	CurrentTaxYearMinus1YearAmt
Current Tax Year	$4,217	CurrentTaxYearAmt
Total	$11,341	TotalAmt

Unrelated Business Net Incm170 UnrelatedBusinessNetIncm170Grp

Field	Value	IRS element (for citing)
Total	$0	TotalAmt

Other Income170 OtherIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$0	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$0	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$0	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$0	CurrentTaxYearMinus1YearAmt
Current Tax Year	$0	CurrentTaxYearAmt
Total	$0	TotalAmt

Field	Value	IRS element (for citing)
Total Support	$33,898,146	TotalSupportAmt
Gross Receipts Rltd Activities	$0	GrossReceiptsRltdActivitiesAmt
First5 Years170	Yes (X)	First5Years170Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule D IRS990ScheduleD

Field	Value	IRS element (for citing)
Total Liability	$0	TotalLiabilityAmt
Total Rev Etc Audited Fincl Stmt	$17,476,314	TotalRevEtcAuditedFinclStmtAmt
Donated Services And Use Fclts	$1,396,719	DonatedServicesAndUseFcltsAmt
Other Revenue	$0	OtherRevenueAmt
Revenue Not Reported	$1,396,719	RevenueNotReportedAmt
Revenue Subtotal	$16,079,595	RevenueSubtotalAmt
Other Revenues Not Included	$0	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$0	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$16,079,595	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$16,393,442	TotExpnsEtcAuditedFinclStmtAmt
Donated Services Use Fclts	$1,396,719	DonatedServicesUseFcltsAmt
Other Expenses Included	$0	OtherExpensesIncludedAmt
Expenses Not Reported	$1,396,719	ExpensesNotReportedAmt
Expenses Subtotal	$14,996,723	ExpensesSubtotalAmt
Other Expenses Not Included	$0	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$0	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$14,996,723	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Schedule D, Part X, Line 2 FIN 48 (ASC 740) FOOTNOTE	FormAndLineReferenceDesc
Explanation	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.	ExplanationTxt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (true)	GrantRecordsMaintainedInd

Recipient Table RecipientTable

Recipient Business Name RecipientBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	SEE ATTACHED	BusinessNameLine1Txt

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	361 PARK AVE	AddressLine1Txt
Address Line2	203	AddressLine2Txt
City	GLENCOE	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60022	ZIPCd

Field	Value	IRS element (for citing)
Cash Grant	$10,880,332	CashGrantAmt
Purpose Of Grant	VARIOUS	PurposeOfGrantTxt

Field	Value	IRS element (for citing)
Total501c3 Org	323	Total501c3OrgCnt
Total Other Org	175	TotalOtherOrgCnt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

Field	Value	IRS element (for citing)
Grant Type	EDUCATION SCHOLARSHIPS	GrantTypeTxt
Recipient	190	RecipientCnt
Cash Grant	$1,792,500	CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds.	FormAndLineReferenceDesc
Explanation	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.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Severance Payment	false	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	false	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	false	EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org	false	CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs	false	CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org	false	CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs	false	CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments	Yes (true)	AnyNonFixedPaymentsInd
Initial Contract Exception	false	InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	BETH SELING	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Title	CHIEF OF OPERATIONS	TitleTxt
Base Compensation Filing Org	$216,850	BaseCompensationFilingOrgAmt
Compensation Based On Rltd Orgs	$0	CompensationBasedOnRltdOrgsAmt
Bonus Filing Organization	$75,000	BonusFilingOrganizationAmount
Bonus Related Organizations	$0	BonusRelatedOrganizationsAmt
Other Compensation Filing Org	$0	OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs	$0	OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org	$13,477	DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs	$0	DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org	$27,406	NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs	$0	NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org	$332,733	TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs	$0	TotalCompensationRltdOrgsAmt
Comp Report Prior990 Filing Org	$0	CompReportPrior990FilingOrgAmt
Comp Report Prior990 Rltd Orgs	$0	CompReportPrior990RltdOrgsAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	Schedule J, Part I, Line 7 Non-fixed payments	FormAndLineReferenceDesc
Explanation	INCENTIVE COMPENSATION IS BASED ON EXTRAORDINARY EFFORTS AND SERVICES PROVIDED TO THE ORGANIZATION, NOT BASED ON FINANCIAL RESULTS OF THE ORGANIZATION.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
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.