Veloo Foundation
Veloo Foundation shows consistent revenue growth and zero executive compensation, indicating strong financial stewardship.
EIN: 204795396 · Draper, UT · NTEE: T22 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $82K |
| Total Expenses | $92K |
| Program Spending | 90% |
| CEO/Top Officer Pay | $100,000. |
| Net Assets | $67K |
| Transparency Score | 85/100 |
Is Veloo Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Veloo Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Veloo Foundation
Veloo Foundation (EIN: 204795396) is a nonprofit organization based in Draper, UT, classified under NTEE code T22. The organization reported total revenue of $82K and total assets of $10K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Veloo Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Veloo Foundation is a micro nonprofit that has been operating for 19 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 27.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $111K |
| Total Expenses | $92K |
| Surplus / Deficit | +$19K |
| Total Assets | $67K |
| Total Liabilities | $1 |
| Net Assets | $67K |
| Operating Margin | 16.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 8.7 months |
Financial Health Grade: A
In 2023, Veloo Foundation reported a surplus of $19K with revenue exceeding expenses, holds 8.7 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), Veloo Foundation's revenue has grown at a compound annual growth rate (CAGR) of 27.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.5% | -3.1% | +38.5% |
| 2022 | +35.5% | +128.4% | -37.0% |
| 2021 | +0.0% | +0.0% | +81.2% |
| 2020 | +147.6% | +74.2% | +432.7% |
| 2019 | +38.5% | -12.3% | +388.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Veloo 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Veloo Foundation allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. With 90% 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 $19K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Veloo Foundation consistently reports 0% officer compensation across all available filings, indicating that executive leadership is either entirely volunteer-based or compensated through non-officer channels, which is highly efficient for an organization of its size with revenues reaching over $100,000.
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 Veloo Foundation's IRS 990 filings:
- Lack of detailed expense breakdown (program vs. admin vs. fundraising) in provided summary data, making precise efficiency analysis difficult.
Strengths
The following positive indicators were identified for Veloo Foundation:
- Consistent revenue growth, reaching $110,627 in 2023.
- Zero reported officer compensation across all filings, indicating high efficiency and dedication.
- Minimal liabilities (consistently $1 or $0), demonstrating strong financial management.
- Growing asset base, reaching $66,866 in 2023, enhancing organizational stability.
Frequently Asked Questions about Veloo Foundation
Is Veloo Foundation a legitimate charity?
Veloo Foundation (EIN: 204795396) is a registered tax-exempt nonprofit based in Utah. Our AI analysis gives it a Mission Score of 85/100. It has 10 years of IRS 990 filings on record. Total revenue: $82K. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Veloo Foundation spend its money?
Veloo Foundation directs 90% of its spending to programs and services. Fundraising costs 2%. This exceeds the 65% industry benchmark.
Are donations to Veloo Foundation tax-deductible?
Veloo Foundation is registered as a tax-exempt nonprofit (EIN: 204795396). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Veloo Foundation CEO make?
Veloo Foundation's highest-compensated officer earns $100,000. annually. The organization reported $82K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Veloo Foundation's spending goes to programs?
Veloo Foundation directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Veloo Foundation compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Veloo Foundation is above average for NTEE category T22 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Veloo Foundation located?
Veloo Foundation is headquartered in Draper, Utah and files with the IRS under EIN 204795396. It is classified under NTEE code T22.
How many years of IRS 990 filings does Veloo Foundation have?
Veloo 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 $82K in total revenue.
Is Veloo Foundation a good charity?
Based on the available IRS 990 data, Veloo Foundation appears to be a good charity. It demonstrates consistent revenue growth, maintains minimal liabilities, and notably reports zero officer compensation across all filings, suggesting a strong commitment to directing funds towards its mission.
How has Veloo Foundation's revenue changed over time?
Veloo Foundation has shown significant revenue growth, increasing from $5,850 in 2011 to $110,627 in 2023, indicating a positive trend in donor support and financial capacity.
What is Veloo Foundation's approach to executive compensation?
Veloo Foundation has reported 0% officer compensation in all available filings, indicating a highly efficient approach where executive leadership is not compensated through traditional officer salaries, or is entirely volunteer-based.
Filing History
IRS 990 filing history for Veloo Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Veloo Foundation's revenue has grown by 1791.1%, moving from $6K to $111K. Total assets increased by 1769.9% over the same period, from $4K to $67K. Total functional expenses rose by 619.3%, from $13K to $92K. In its most recent filing year (2023), Veloo Foundation reported a surplus of $19K, with revenue exceeding expenses. The organization holds $1 in liabilities against $67K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $67K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $111K | $92K | $67K | $1 | — | View 990 |
| 2022 | $103K | $95K | $48K | $1 | — | View 990 |
| 2021 | $76K | $42K | $77K | $1 | — | View 990 |
| 2020 | $76K | $42K | $42K | $1 | — | — |
| 2019 | $31K | $24K | $8K | $1 | — | View 990 |
| 2015 | $22K | $27K | $2K | $0 | — | View 990 |
| 2014 | $35K | $68K | $7K | $0 | — | View 990 |
| 2013 | $45K | $19K | $40K | $0 | — | View 990 |
| 2012 | $12K | $1K | $14K | $0 | — | View 990 |
| 2011 | $6K | $13K | $4K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $111K, expenses of $92K, and assets of $67K (revenue +7.5% year-over-year).
- 2022: Revenue of $103K, expenses of $95K, and assets of $48K (revenue +35.5% year-over-year).
- 2021: Revenue of $76K, expenses of $42K, and assets of $77K (revenue +0.0% year-over-year).
- 2020: Revenue of $76K, expenses of $42K, and assets of $42K (revenue +147.6% year-over-year).
- 2019: Revenue of $31K, expenses of $24K, and assets of $8K (revenue +38.5% year-over-year).
- 2015: Revenue of $22K, expenses of $27K, and assets of $2K (revenue -36.8% year-over-year).
- 2014: Revenue of $35K, expenses of $68K, and assets of $7K (revenue -21.4% year-over-year).
- 2013: Revenue of $45K, expenses of $19K, and assets of $40K (revenue +280.0% year-over-year).
- 2012: Revenue of $12K, expenses of $1K, and assets of $14K (revenue +100.5% year-over-year).
- 2011: Revenue of $6K, expenses of $13K, and assets of $4K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Veloo Foundation:
Data Sources and Methodology
This transparency report for Veloo 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.