The Veloric Foundation is a private foundation based in Bala Cynwyd, Pennsylvania. Its 2024 filing lists contributions to charitable organizations including a university, a relationship-therapy organization, a youth foundation, and community organizations.
Key facts about The Veloric Foundation
In short: The Veloric Foundation gave $514K across 30 grants in 2024 (avg $17K), top state New York. 60% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 23-2387629
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $513,900
- Grants made (2024)
- 30
- Average grant
- $17,130
- Median grant
- $5,000
- New grantees (estimate)
- 60% first-time grantees (18 of 30, 2024)
- Total assets
- $6,781,832
- Primary geography
- New York (41% of itemized 2024 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The foundation does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations. Full details ↓
Data from IRS Form 990-PF, 2024; updated September 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$6.8M
-5.8% YoY
Annual Giving
$514K
-93.0% YoY
Grant Count
30
+25.0% YoY
Avg Grant Size
$17K
-94.4% YoY
Under IRS private-foundation payout rules, The Veloric Foundation reported a distributable amount of $419K for 2024 — the minimum it must pay out in qualifying distributions.
Is The Veloric Foundation open to new grantees?
60%
first-time grantees, 2024
In 2024, 18 of 30 grantees (60%) were first-time recipients. First grants averaged $4K; repeat grants $37K. How we count
Medians: $2K first-time, $13K repeat.
- 37% of 2024 grantees were also funded in 2023. Method
- In 2024 it paid out 157% of its IRS minimum distribution (the 5% rule). Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2022–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
No mission statement for the foundation is provided. Its 2024 grants show support for organizations working in varied areas. For example, American University describes its mission as advancing knowledge, fostering intellectual curiosity, building community, and empowering lives of purpose, service, and leadership. Council for Relationships says it strengthens interpersonal connections through therapy, clinical training, and research. The Shane Victorino Foundation says it promotes opportunities for underserved youth through educational, recreational, and wellness programs.
Grantmaking
In 2024, the foundation made 30 grants totaling $513,900. Grants ranged from $100 to $105,500, with a median of $5,000. Its largest grants included $105,500 to American University; $100,000 each to the American Jewish Committee and the American Technion Society; and $55,000 to Council for Relationships.
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Geographic Focus
Where this funder awards grants
In 2024, recipients in New York received 41% of grant dollars, recipients in Pennsylvania received 29%, and recipients in Washington, DC, received 21%. Florida recipients received 6%, and Nevada recipients received 3%.
Grant Distribution by State
Share of all 30 itemized 2024 grant dollars.
Cities
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
65 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| AMERICAN UNIVERSITY Washington, DC | CONTRIBUTION | $105,500 |
| AMERICAN JEWISH COMMITTEEJACOB BLAUSTEIN BLDG New York, NY | CONTRIBUTION | $100,000 |
| AMERICAN TECHNION SOCIETY New York, NY | CONTRIBUTION | $100,000 |
| COUNCIL FOR RELATIONSHIPS Philadelphia, PA | CONTRIBUTION | $55,000 |
| BOCA RATON REGIONAL HOSPITAL Boca Raton, FL | CONTRIBUTION | $20,000 |
| THE ENTERPRISE CENTER COMMUNITY DEVELPOMENT CORPOR Philadelphia, PA | CONTRIBUTION | $20,000 |
| SHANE VICTORINO FOUNDATION Las Vegas, NV | CONTRIBUTION | $15,000 |
| ANTI DEFAMATION LEAGUE Philadelphia, PA | CONTRIBUTION | $10,000 |
| BRYN MAWR FOUNDATION Radnor, PA | CONTRIBUTION | $10,000 |
| DREXEL UNIVERSITY Philadelphia, PA | CONTRIBUTION | $10,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants | Grant count |
|---|---|---|---|---|---|
| 2024 | $6,781,832 | $344,041 | $783,439 | $513,900 | 30 |
| 2023 | $7,199,819 | $521,097 | $7,499,395 | $7,391,100 | 24 |
| 2022 | $13,420,955 | $8,644,407 | $1,051,342 | $477,000 | 11 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $6,781,832 | $7,199,819 | $13,420,955 |
| Revenue | $344,041 | $521,097 | $8,644,407 |
| Expenses | $783,439 | $7,499,395 | $1,051,342 |
| Qualifying Distributions | $659,117 | $7,481,957 | $750,563 |
| Net Investment Income | $272,899 | $304,398 | $8,573,963 |
| Distributable Amount | $418,521 | $398,472 | $213,074 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Michael Veloric as president and Maureen Healy as secretary and treasurer.
The Veloric Foundation is led by Michael Veloric, President since 2022 (on filings since 2021); none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Michael Veloric
President
Director → President, 2022
On filings since 2021
5 hrs/week
No compensation reported
Maureen Healy
Secretary & Treasurer
On filings since 2022
1 hr/week
No compensation reported
Former officers (4)
- Former: Gary Veloric (2021–2022) — Director
- Former: Dina Veloric (2022) — Director
- Former: Drew Veloric (2022) — Director
- Former: Stacy Veloric Feinman (2022) — Director
Data from IRS Form 990 filings, 2021–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Mailing address: 130 Presidential Blvd Suite 210, Bala Cynwyd, PA 19004
Phone: (610) 664-2200
Frequently asked questions about The Veloric Foundation
How much does The Veloric Foundation give each year?
The Veloric Foundation gave $514K across 30 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $7.4M across 24 grants.
What is The Veloric Foundation's typical grant size?
The Veloric Foundation's median grant in 2024 was $5,000, and its average grant was $17,130, across 30 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from The Veloric Foundation that year got $4K on average.
Where does The Veloric Foundation give grants?
The Veloric Foundation's top state is New York, with 41% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were Pennsylvania (29%) and District of Columbia (21%). The most frequent recipient cities were Philadelphia, PA (10 grants), New York, NY (5 grants), Bala Cynwyd, PA (3 grants) and Boca Raton, FL (2 grants).
Does The Veloric Foundation give general operating support?
Not in 2024: none of the 30 grants with a stated purpose on The Veloric Foundation's 2024 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Contribution" (30 grants).
Who are The Veloric Foundation's largest grantees?
The Veloric Foundation's largest 2024 grantees include American University ($105,500), American Jewish Committeejacob Blaustein Bldg ($100,000) and American Technion Society ($100,000), according to its 2024 IRS Form 990-PF. Together they received 59% of its itemized 2024 grant dollars.
How large is The Veloric Foundation?
The Veloric Foundation reported $6.8M in total assets on its 2024 IRS Form 990-PF. It paid out $659K in qualifying distributions that year, against a required minimum of $419K (roughly 5% of its investment assets).
What does The Veloric Foundation fund?
No mission statement for the foundation is provided. Its 2024 grants show support for organizations working in varied areas. For example, American University describes its mission as advancing knowledge, fostering intellectual curiosity, building community, and empowering lives of purpose, service, and leadership. Council for Relationships says it strengthens interpersonal connections through therapy, clinical training, and research. The Shane Victorino Foundation says it promotes opportunities…
How do I apply for a grant from The Veloric Foundation?
The foundation does not accept unsolicited requests for funds and makes contributions only to preselected charitable organizations. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is The Veloric Foundation's EIN?
The Veloric Foundation's EIN (Employer Identification Number) is 23-2387629. IRS Form 990 filing data is available on this page for 2021–2024.
Does The Veloric Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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