The Vela Foundation
The Vela Foundation consistently grows assets with minimal expenses and no reported officer compensation.
EIN: 208117214 · Osterville, MA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.0M |
| Total Expenses | $583K |
| Program Spending | 85% |
| CEO/Top Officer Pay | $12 |
| Net Assets | $11.0M |
| Transparency Score | 85/100 |
Is The Vela Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Vela Foundation directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Vela Foundation
The Vela Foundation (EIN: 208117214) is a nonprofit organization based in Osterville, MA, classified under NTEE code T20. The organization reported total revenue of $6.0M and total assets of $12.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Vela Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Vela Foundation is a mid-size nonprofit that has been operating for 18 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 23.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $4.2M |
| Total Expenses | $583K |
| Surplus / Deficit | +$3.6M |
| Total Assets | $11.0M |
| Total Liabilities | $1 |
| Net Assets | $11.0M |
| Operating Margin | 86.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 226.1 months |
Financial Health Grade: A
In 2023, The Vela Foundation reported a surplus of $3.6M with revenue exceeding expenses, holds 226.1 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), The Vela Foundation's revenue has grown at a compound annual growth rate (CAGR) of 23.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +81.8% | -19.8% | +19.4% |
| 2022 | +570.7% | +20.9% | +20.4% |
| 2021 | +139.4% | +-0.0% | -3.4% |
| 2020 | -87.9% | +0.7% | -8.5% |
| 2019 | -41.1% | +103.6% | +70.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Vela Foundation with a Mission Score of 85 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 85%
- fundraising: 0%
According to IRS 990 filings, The Vela Foundation allocates its expenses as follows: admin: 15%, programs: 85%, fundraising: 0%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $3.6M, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
The Vela Foundation reports 0% officer compensation across all available filings, indicating that its leadership is either entirely volunteer-based or compensated through other means not disclosed as officer compensation, which is highly unusual for an organization with over $12 million in assets.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of The Vela Foundation's IRS 990 filings:
- Lack of detailed program spending breakdown in provided data makes it difficult to fully assess direct impact.
- Significant revenue volatility, with a drop from $1.1M in 2019 to $144K in 2020, then a surge to $4.2M in 2023, could indicate reliance on unpredictable funding sources.
Strengths
The following positive indicators were identified for The Vela Foundation:
- Exceptional financial stability with consistently low liabilities (often $1).
- Strong asset growth, increasing from $1.5 million in 2011 to over $12 million currently.
- Very low overall expenses relative to revenue, indicating efficient operations and asset preservation.
- No reported officer compensation, suggesting a volunteer-driven leadership or highly cost-effective governance.
- Consistent IRS 990 filing history, demonstrating good transparency.
Frequently Asked Questions about The Vela Foundation
Is The Vela Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, The Vela Foundation (EIN: 208117214) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does The Vela Foundation spend its money?
The Vela Foundation directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to The Vela Foundation tax-deductible?
The Vela Foundation is registered as a tax-exempt nonprofit (EIN: 208117214). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the The Vela Foundation CEO make?
The Vela Foundation's highest-compensated officer earns $12 annually. The organization reported $6.0M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
How does The Vela Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), The Vela Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Vela Foundation located?
The Vela Foundation is headquartered in Osterville, Massachusetts and files with the IRS under EIN 208117214. It is classified under NTEE code T20.
How many years of IRS 990 filings does The Vela Foundation have?
The Vela Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $6.0M in total revenue.
Is The Vela Foundation primarily a grant-making or operating foundation?
Given the consistently low expenses relative to revenue and significant asset growth, The Vela Foundation appears to be primarily a grant-making foundation focused on accumulating and managing an endowment, rather than an operating foundation with high direct program expenses.
How does The Vela Foundation achieve such low liabilities?
The Vela Foundation consistently reports extremely low liabilities (often $1), suggesting robust financial management, a strong cash position, and a policy of avoiding debt, which contributes to its financial stability.
What is the purpose of the significant asset accumulation?
The substantial growth in assets from $1.5 million in 2011 to over $12 million currently, coupled with low expenses, indicates a strategy of building a significant endowment to ensure long-term sustainability and potentially larger future programmatic disbursements.
Filing History
IRS 990 filing history for The Vela Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Vela Foundation's revenue has grown by 1193.5%, moving from $326K to $4.2M. Total assets increased by 606.4% over the same period, from $1.6M to $11.0M. Total functional expenses rose by 3031.5%, from $19K to $583K. In its most recent filing year (2023), The Vela Foundation reported a surplus of $3.6M, with revenue exceeding expenses. The organization holds $1 in liabilities against $11.0M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $11.0M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $4.2M | $583K | $11.0M | $1 | — | View 990 |
| 2022 | $2.3M | $726K | $9.2M | $1 | — | View 990 |
| 2021 | $345K | $601K | $7.6M | $1 | — | View 990 |
| 2020 | $144K | $601K | $7.9M | $70 | — | View 990 |
| 2019 | $1.2M | $597K | $8.6M | $285K | — | View 990 |
| 2014 | $2.0M | $293K | $5.1M | $0 | — | View 990 |
| 2013 | $1.7M | $197K | $3.8M | $0 | — | View 990 |
| 2012 | $856K | $35K | $2.3M | $0 | — | View 990 |
| 2011 | $3K | $16K | $1.5M | $0 | — | View 990 |
| 2011 | $326K | $19K | $1.6M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $4.2M, expenses of $583K, and assets of $11.0M (revenue +81.8% year-over-year).
- 2022: Revenue of $2.3M, expenses of $726K, and assets of $9.2M (revenue +570.7% year-over-year).
- 2021: Revenue of $345K, expenses of $601K, and assets of $7.6M (revenue +139.4% year-over-year).
- 2020: Revenue of $144K, expenses of $601K, and assets of $7.9M (revenue -87.9% year-over-year).
- 2019: Revenue of $1.2M, expenses of $597K, and assets of $8.6M (revenue -41.1% year-over-year).
- 2014: Revenue of $2.0M, expenses of $293K, and assets of $5.1M (revenue +18.6% year-over-year).
- 2013: Revenue of $1.7M, expenses of $197K, and assets of $3.8M (revenue +98.7% year-over-year).
- 2012: Revenue of $856K, expenses of $35K, and assets of $2.3M (revenue +30374.8% year-over-year).
- 2011: Revenue of $3K, expenses of $16K, and assets of $1.5M (revenue -99.1% year-over-year).
- 2011: Revenue of $326K, expenses of $19K, and assets of $1.6M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Vela Foundation:
Data Sources and Methodology
This transparency report for The Vela Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.