VELA EDUCATION FUND: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization: VELA EDUCATION FUND (EIN 84-4185046)
Tax period: 2024-01-01 to 2024-12-31
Filed: 2025-11-17
IRS object ID: 202503219349315325
Schema version: 2024v5.1
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	2025-11-17T15:15:28+00:00	ReturnTs
Tax Period End	2024-12-31	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 Mazars LLP	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	1201 Walnut Street 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	2024-01-01	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	807 WAUKEGAN ROAD 124	AddressLine1Txt
City	DEERFIELD	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60015	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	KARA HARTNETT	PersonNm
Person Title	TREASURER	PersonTitleTxt
Phone	5042507715	PhoneNum
Signature	2025-11-17	SignatureDt
Discuss With Paid Preparer	Yes (true)	DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	Michael Engle	PreparerPersonNm
PTIN	P00482834	PTIN
Phone	8162216300	PhoneNum
Preparation	2025-11-17	PreparationDt

Field	Value	IRS element (for citing)
Tax	2024	TaxYr
Build TS	2025-03-06 01:10:19Z	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	807 WAUKEGAN ROAD 124	AddressLine1Txt
City	DEERFIELD	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60015	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$18,940,669	GrossReceiptsAmt
Group Return For Affiliates	false	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	WWW.VELA.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	3	VotingMembersGoverningBodyCnt
Voting Members Independent	3	VotingMembersIndependentCnt
Total Employee	9	TotalEmployeeCnt
Total Volunteers	0	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
PY Contributions Grants	$18,052,745	PYContributionsGrantsAmt
CY Contributions Grants	$18,171,446	CYContributionsGrantsAmt
PY Program Service Revenue	$0	PYProgramServiceRevenueAmt
CY Program Service Revenue	$52,395	CYProgramServiceRevenueAmt
PY Investment Income	$465,263	PYInvestmentIncomeAmt
CY Investment Income	$716,828	CYInvestmentIncomeAmt
PY Other Revenue	$0	PYOtherRevenueAmt
CY Other Revenue	$0	CYOtherRevenueAmt
PY Total Revenue	$18,518,008	PYTotalRevenueAmt
CY Total Revenue	$18,940,669	CYTotalRevenueAmt
PY Grants And Similar Paid	$10,706,082	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$6,162,250	CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$1,629,749	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$1,566,730	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$335,749	CYTotalFundraisingExpenseAmt
PY Other Expenses	$1,253,171	PYOtherExpensesAmt
CY Other Expenses	$3,721,220	CYOtherExpensesAmt
PY Total Expenses	$13,589,002	PYTotalExpensesAmt
CY Total Expenses	$11,450,200	CYTotalExpensesAmt
PY Revenues Less Expenses	$4,929,006	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	$7,490,469	CYRevenuesLessExpensesAmt
Total Assets BOY	$13,520,815	TotalAssetsBOYAmt
Total Assets EOY	$21,403,298	TotalAssetsEOYAmt
Total Liabilities BOY	$3,083,040	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$2,948,056	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$10,437,775	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$18,455,242	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	$10,127,054	ExpenseAmt
Grant	$6,162,250	GrantAmt
Revenue	$52,395	RevenueAmt
Desc	VELA EDUCATION FUND MADE 500 GRANTS TO SUPPORT THE CREATION OR EXPANSION OF COMMUNITY-BASED NONTRADITIONAL 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	$10,127,054	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (true)	DescribedInSection501c3Ind
Schedule B Required	Yes (true)	ScheduleBRequiredInd
Political Campaign Acty	false	PoliticalCampaignActyInd
Lobbying Activities	false	LobbyingActivitiesInd
Subject To Proxy Tax	false	SubjectToProxyTaxInd
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
Escrow Account	false	EscrowAccountInd
On Behalf Of Issuer	false	OnBehalfOfIssuerInd
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
Transaction With Control Ent	false	TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	false	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	false	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (true)	ScheduleORequiredInd
IRP Document	154	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	3	GoverningBodyVotingMembersCnt
Independent Voting Member	3	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
Policies Reference Chapters	false	PoliciesReferenceChaptersInd
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
Written Policy Or Procedure	false	WrittenPolicyOrProcedureInd
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	7032147118	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	4201 WILSON BLVD SUITE 0800	AddressLine1Txt
City	ARLINGTON	CityNm
State Abbreviation	VA	StateAbbreviationCd
ZIP	22203	ZIPCd

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 (Outgoing)	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 (Outgoing)	1.0	0.0	Yes (X)		$0	$0	$0
TODD ROSE
BOARD MEMBER	1.0	0.0	Yes (X)		$0	$0	$0
Henrich Heuer
TREASURER	1.0	0.0		Yes (X)	$0	$0	$0
Weston Edwards
SECRETARY	1.0	0.0		Yes (X)	$0	$0	$0
Ashley Ho
Director of Product Strategy	50.0	0.0			$139,388	$0	$18,392	Yes (X)
ELIZABETH SELING
CHIEF OF OPERATIONS	50.0	0.0			$367,017	$0	$39,762	Yes (X)
LAUREN GREVEL
DIRECTOR OF PROGRAMS	50.0	0.0			$170,600	$0	$22,506	Yes (X)
LINDSAY KELLY
DIRECTOR-BRAND AND COMMUNICATIONS	50.0	0.0			$206,040	$0	$21,388	Yes (X)
SHAINA BELTON
DIRECTOR OF COMMUNITY	50.0	0.0			$112,997	$0	$19,066	Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$996,042	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$121,114	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	5	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	false	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (true)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	false	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (5 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt	Address Line2ContractorAddress/USAddress/AddressLine2Txt
CCDC Hotel LLC dba Conrad Washington DC
950 New York Ave NW	Washington	DC	20001	Hotel Meeting Conference Expense	$536,496
Clevyr Inc
912 N Classen BLVD	Oklahoma City	OK	73106	Web Platform	$454,985
Bounteous Inc
4115 N Ravenswood Ave	Chicago	IL	60613	Web Platform	$418,513	Suite 101
North Third Partners LLC
1313 Stoneoak Drive	McKinney	TX	75072	Consulting	$400,000
Wild Reply LLC
2929 N Central Expy	Richardson	TX	75080	Media Production	$397,600	Ste 275

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	7	CntrctRcvdGreaterThan100KCnt
All Other Contributions	$18,171,446	AllOtherContributionsAmt
Total Contributions	$18,171,446	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	CONFERENCE REVENUE	Desc
Business	561920	BusinessCd
Total Revenue Column	$52,395	TotalRevenueColumnAmt
Related Or Exempt Func Income	$52,395	RelatedOrExemptFuncIncomeAmt

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	$52,395	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$716,828	TotalRevenueColumnAmt
Exclusion	$716,828	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	$18,940,669	TotalRevenueColumnAmt
Related Or Exempt Func Income	$52,395	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$716,828	ExclusionAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part IX	Yes (X)	InfoInScheduleOPartIXInd

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$4,839,750	TotalAmt
Program Services	$4,839,750	ProgramServicesAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

Field	Value	IRS element (for citing)
Total	$1,322,500	TotalAmt
Program Services	$1,322,500	ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$1,343,847	TotalAmt
Program Services	$1,075,078	ProgramServicesAmt
Management And General	$268,769	ManagementAndGeneralAmt

Pension Plan Contributions PensionPlanContributionsGrp

Field	Value	IRS element (for citing)
Total	$54,626	TotalAmt
Program Services	$43,701	ProgramServicesAmt
Management And General	$10,925	ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$78,352	TotalAmt
Program Services	$62,682	ProgramServicesAmt
Management And General	$15,670	ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$89,905	TotalAmt
Program Services	$71,924	ProgramServicesAmt
Management And General	$17,981	ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

Field	Value	IRS element (for citing)
Total	$12,548	TotalAmt
Management And General	$12,548	ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

Field	Value	IRS element (for citing)
Total	$2,476,554	TotalAmt
Program Services	$1,525,122	ProgramServicesAmt
Management And General	$615,683	ManagementAndGeneralAmt
Fundraising	$335,749	FundraisingAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$71,278	TotalAmt
Program Services	$63,477	ProgramServicesAmt
Management And General	$7,801	ManagementAndGeneralAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$35,447	TotalAmt
Program Services	$5,864	ProgramServicesAmt
Management And General	$29,583	ManagementAndGeneralAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$79,751	TotalAmt
Program Services	$79,708	ProgramServicesAmt
Management And General	$43	ManagementAndGeneralAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$1,015,843	TotalAmt
Program Services	$1,015,123	ProgramServicesAmt
Management And General	$720	ManagementAndGeneralAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$7,674	TotalAmt
Management And General	$7,674	ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp

Field	Value	IRS element (for citing)
Desc	MEDIA	Desc
Total	$22,125	TotalAmt
Program Services	$22,125	ProgramServicesAmt
Management And General	$0	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

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	$11,450,200	TotalAmt
Program Services	$10,127,054	ProgramServicesAmt
Management And General	$987,397	ManagementAndGeneralAmt
Fundraising	$335,749	FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$2,005	EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$12,905,591	BOYAmt
EOY	$15,116,173	EOYAmt

Pledges And Grants Receivable PledgesAndGrantsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$300,000	BOYAmt
EOY	$5,316,885	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

Oth Notes Loans Receivable Net OthNotesLoansReceivableNetGrp

Field	Value	IRS element (for citing)
BOY	$0	BOYAmt
EOY	$115,406	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$65,224	BOYAmt
EOY	$102,829	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	$250,000	BOYAmt
EOY	$750,000	EOYAmt

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	$13,520,815	BOYAmt
EOY	$21,403,298	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
BOY	$457,952	BOYAmt
EOY	$863,806	EOYAmt

Grants Payable GrantsPayableGrp

Field	Value	IRS element (for citing)
BOY	$2,625,088	BOYAmt
EOY	$2,084,250	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	$3,083,040	BOYAmt
EOY	$2,948,056	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	$8,708,655	BOYAmt
EOY	$10,914,487	EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$1,729,120	BOYAmt
EOY	$7,540,755	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$10,437,775	BOYAmt
EOY	$18,455,242	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$13,520,815	BOYAmt
EOY	$21,403,298	EOYAmt

Field	Value	IRS element (for citing)
Reconcilation Revenue Expnss	$7,490,469	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$4,263	NetUnrlzdGainsLossesInvstAmt
Prior Period Adjustments	$522,735	PriorPeriodAdjustmentsAmt
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
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 Minus4 Years	$4,566,567	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$13,244,860	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$16,075,378	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$18,052,745	CurrentTaxYearMinus1YearAmt
Current Tax Year	$18,171,446	CurrentTaxYearAmt
Total	$70,110,996	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	$4,566,567	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$13,244,860	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$16,075,378	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$18,052,745	CurrentTaxYearMinus1YearAmt
Current Tax Year	$18,171,446	CurrentTaxYearAmt
Total	$70,110,996	TotalAmt

Field	Value	IRS element (for citing)
Substantial Contributors Tot	$23,060,977	SubstantialContributorsTotAmt
Public Support Total170	$47,050,019	PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

Field	Value	IRS element (for citing)
Current Tax Year Minus4 Years	$4,415	CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years	$2,709	CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years	$4,217	CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year	$465,263	CurrentTaxYearMinus1YearAmt
Current Tax Year	$721,091	CurrentTaxYearAmt
Total	$1,197,695	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	$71,308,691	TotalSupportAmt
Gross Receipts Rltd Activities	$52,395	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	$19,896,274	TotalRevEtcAuditedFinclStmtAmt
Net Unrealized Gains Invst	$4,263	NetUnrealizedGainsInvstAmt
Donated Services And Use Fclts	$951,342	DonatedServicesAndUseFcltsAmt
Other Revenue	$0	OtherRevenueAmt
Revenue Not Reported	$955,605	RevenueNotReportedAmt
Revenue Subtotal	$18,940,669	RevenueSubtotalAmt
Other Revenues Not Included	$0	OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt	$0	RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990	$18,940,669	TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt	$11,856,307	TotExpnsEtcAuditedFinclStmtAmt
Donated Services Use Fclts	$951,342	DonatedServicesUseFcltsAmt
Other Expenses Included	$0	OtherExpensesIncludedAmt
Expenses Not Reported	$951,342	ExpensesNotReportedAmt
Expenses Subtotal	$10,904,965	ExpensesSubtotalAmt
Other Expenses Not Included	$545,235	OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt	$545,235	ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990	$11,450,200	TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (2 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
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 4(b) Other expenses in form 990 not in audited financial statements	GRANTS ADJUSTMENT - 545235

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	807 WAUKEGAN ROAD	AddressLine1Txt
Address Line2	SUITE 124	AddressLine2Txt
City	DEERFIELD	CityNm
State Abbreviation	IL	StateAbbreviationCd
ZIP	60015	ZIPCd

Field	Value	IRS element (for citing)
Cash Grant	$4,742,250	CashGrantAmt
Purpose Of Grant	Support	PurposeOfGrantTxt

Field	Value	IRS element (for citing)
Total501c3 Org	197	Total501c3OrgCnt
Total Other Org	136	TotalOtherOrgCnt

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

Field	Value	IRS element (for citing)
Grant Type	Individual Grantmaking Program	GrantTypeTxt
Recipient	136	RecipientCnt
Cash Grant	$1,322,500	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)
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
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 (4 entries)

TitleTitleTxt	Base Compensation Filing OrgBaseCompensationFilingOrgAmt	Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt	Bonus Filing OrganizationBonusFilingOrganizationAmount	Bonus Related OrganizationsBonusRelatedOrganizationsAmt	Other Compensation Filing OrgOtherCompensationFilingOrgAmt	Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt	Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt	Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt	Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt	Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt	Total Compensation Filing OrgTotalCompensationFilingOrgAmt	Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt	Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt	Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt
ELIZABETH SELING
CHIEF OF OPERATIONS	$242,017	$0	$125,000	$0	$0	$0	$12,404	$0	$27,358	$0	$406,779	$0	$0	$0
LINDSAY KELLY
DIRECTOR-BRAND AND COMMUNICATIONS	$181,040	$0	$25,000	$0	$0	$0	$5,200	$0	$16,188	$0	$227,428	$0	$0	$0
LAUREN GREVEL
DIRECTOR OF PROGRAMS	$135,600	$0	$35,000	$0	$0	$0	$10,500	$0	$12,006	$0	$193,106	$0	$0	$0
Ashley Ho
Director of Product Strategy	$139,388	$0	$0	$0	$0	$0	$8,227	$0	$10,165	$0	$157,780	$0	$0	$0

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 (5 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. THE ORGANIZATION RECENTLY UPDATED ITS CONFLICT OF INTEREST POLICY FOR DIRECTORS, OFFICERS, AND KEY EMPLOYEES AND EACH OF THEM ACKNOWLEDGED THE NEW POLICY.
Form 990, Part VI, Line 19 Required documents available to the public	VELA EDUCATION FUND MAKES DOCUMENTS AVAILABLE IN ACCORDANCE WITH IRS RULES.
Form 990, Part IX, Line 11g Other Fees	OTHER FEES FOR SERVICES - Total Expense: 2476554, Program Service Expense: 1525122, Management and General Expenses: 615683, Fundraising Expenses: 335749;