VELA EDUCATION FUND
Income Statement
Fiscal Year Start:
Jan 1
Revenues in 2024
$18,940,669
Contributions
96%
Investments
4%
Program Services
<1%
Government Grants
0%
Fundraising Events
0%
Membership Dues
0%
Other
0%
Expenses in 2024
$11,450,200
Grants
54%
Fees to Service Providers
22%
Salaries & Benefits
14%
Other
10%
Offices, Occupancy & IT
<1%
Benefits to Members
0%
Advertising & Promotion
0%
Interest
0%
Depreciation
0%
Revenues
2023
2024
Change
Contributions
$18,052,745
$18,171,446
+1%
Government Grants
$0
$0
-
Fundraising Events
$0
$0
-
Program Services
$0
$52,395
-
Membership Dues
$0
$0
-
Investments
$465,263
$716,828
+54%
Other
$0
$0
-
Total Revenues
$18,518,008
$18,940,669
+2%
Expenses
2023
2024
Change
Grants
$10,706,082
$6,162,250
-42%
Benefits to Members
$0
$0
-
Salaries & Benefits
$1,629,749
$1,566,730
-4%
Fees to Service Providers
$989,420
$2,489,102
+152%
Advertising & Promotion
$0
$0
-
Offices, Occupancy & IT
$31,620
$106,725
+238%
Interest
$0
$0
-
Depreciation
$0
$0
-
Other
$232,131
$1,125,393
+385%
Total Expenses
$13,589,002
$11,450,200
-16%
Net income
2023
2024
Change
Net income
+$4,929,006
+$7,490,469
+52%
Functional Expenses
Summary
2023
2024
Change
Program
$13,421,387
$10,127,054
-25%
Admin
$167,615
$987,397
+489%
Fundraising
$0
$335,749
-
Total Expenses
$13,589,002
$11,450,200
-16%
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