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Nonprofiteer
← VICTORY COLLEGE PREP INC

Form 990 for tax year 2023

Filed by VICTORY COLLEGE PREP INC.

Totals

Total revenue
$18,071,924
Total expenses
$16,881,331
Contributions and grants received
$17,569,111
Grants paid
$0
Program service revenue
$148,136
Investment income
$239,985
Other revenue
$114,692
Total assets, end of year
$20,689,419
Total liabilities, end of year
$14,933,383
Net assets or fund balances, end of year
$5,756,036
Program services expenses (Part IX)
$14,514,017
Management and general expenses
$2,367,314
Fundraising expenses
$0
Program service expenses (Part III)
$14,514,017

Program services were 86.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $63,244

  • 1c · Fundraising events

    $16,816

  • 1e · Government grants (contributions)

    $16,146,787

  • 1f · All other contributions, gifts and grants

    $1,342,264

  • 2a · Program service revenue: STUDENT FEES

    total $148,136 · related or exempt $148,136

  • 3 · Investment income

    total $239,985 · excluded $239,985

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $16,816

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: OTHER INCOME

    total $114,692 · related or exempt $114,692

  • 11e · Other revenue, total

    $114,692

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $300,898 · program services $248,915 · management and general $51,983

  • 7 · Other salaries and wages

    total $8,385,376 · program services $7,010,213 · management and general $1,375,163

  • 8 · Pension plan contributions

    total $211,555 · program services $156,256 · management and general $55,299

  • 9 · Other employee benefits

    total $833,221 · program services $615,424 · management and general $217,797

  • 10 · Payroll taxes

    total $624,793 · program services $461,477 · management and general $163,316

  • 11a · Fees: management

    total $65,735 · management and general $65,735

  • 11b · Fees: legal

    total $50,521 · management and general $50,521

  • 11c · Fees: accounting

    total $96,782 · management and general $96,782

  • 11g · Fees: other

    total $176,801 · program services $103,476 · management and general $73,325

  • 12 · Advertising and promotion

    total $37,718 · management and general $37,718

  • 13 · Office expenses

    total $659,204 · program services $601,919 · management and general $57,285

  • 14 · Information technology

    total $223,399 · program services $223,399

  • 16 · Occupancy

    total $998,464 · program services $998,464

  • 17 · Travel

    total $10,942 · management and general $10,942

  • 20 · Interest

    total $625,865 · program services $625,865

  • 22 · Depreciation, depletion and amortization

    total $800,795 · program services $800,795

  • 24a · Other expenses: STUDENT TRANSPORTATION

    total $1,229,565 · program services $1,229,565

  • 24b · Other expenses: FOOD SERVICE

    total $790,751 · program services $790,751

  • 24c · Other expenses: STAFF DEVELOPMENT AND R

    total $447,044 · program services $347,599 · management and general $99,445

  • 24d · Other expenses: EXTRA-CURRICULAR PROGRA

    total $122,720 · program services $122,720

  • 24e · All other expenses

    total $189,182 · program services $177,179 · management and general $12,003

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,667,424 · end of year $1,209,052

  • 2 · Savings and temporary cash investments

    beginning of year $5,555,237 · end of year $6,572,844

  • 3 · Pledges and grants receivable

    beginning of year $504,047 · end of year $420,888

  • 10a · Land, buildings and equipment: cost or other basis

    $15,666,056

  • 10b · Land, buildings and equipment: accumulated depreciation

    $4,320,738

  • 10c · Land, buildings and equipment, net

    beginning of year $10,352,497 · end of year $11,345,318

  • 15 · Other assets

    beginning of year $1,102,026 · end of year $1,141,317

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,009,782 · end of year $1,076,123

  • 20 · Tax-exempt bond liabilities

    beginning of year $12,796,131 · end of year $12,638,096

  • 25 · Other liabilities

    beginning of year $809,875 · end of year $1,219,164

  • 27 · Net assets without donor restrictions

    beginning of year $4,565,443 · end of year $5,756,036

Mission and programs · 2023

Mission

OUR APPROACH IS TO ENSURE ACADEMIC SUCCESS BY INCREASING INSTRUCTIONAL TIME, SMALL CLASS SIZES, AND PROVIDING AN ACADEMIC FOUNDATION. OUR CORE VALUES ARE PERSEVERANCE, COMMUNICATION, COLLABORATION, AND CRITICAL THINKING.

  • ENROLLMENT - VCP HAS INCREASED NEW ENROLLMENT BY ALMOST 10% AND RE-ENROLLMENT BY 13% FROM LAST YEAR, WHILE MAINTAINING OUR RETENTION RATE ABOVE 95%.

    Expenses $14,514,017 · Revenue $262,828

  • COLLEGE AND CAREER READINESS - THROUGH OUR COLLEGE AND CAREER READINESS PROGRAM, 24% OF OUR COLLEGE GRADUATES GRADUATED WITH 30 COLLEGE CREDITS, MAKING THEM A SOPHOMORE ON THEIR FIRST DAY OF COLLEGE.

  • ALUMNI COACHING - THROUGH OUR ALUMNI COACHING AND CAREER TRAINING PROGRAMS, WE HAVE INCREASED OUR COLLEGE MATRICULATION FROM 62% TO 67.4% FOR THE FIRST SEMESTER OF COLLEGE.

As filed on the 2023 return.

Listed in Part VII

  • Ryan Gall

    EXECUTIVE DIRECTOR

    Total calculated
    $209,318
    From this org
    $184,480
    From related orgs
    $0
    Other
    $24,838
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $184,480
    Bonus
    $0
    Other
    $0
    Deferred
    $17,969
    Nontaxable benefits
    $6,869
    Filer's total
    $209,318

  • Luke Kahren

    CHIEF OPERATING OFFICER

    Total calculated
    $22,559
    From this org
    $19,904
    From related orgs
    $0
    Other
    $2,655
    Hours/week
    50

  • Marcie Brown-Carter

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Kara Masterson

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Adam Collins

    MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Monica Hingst

    MEMBER

    Total calculated
    $0
    Hours/week
    5

  • John Marshall

    MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Joseph Myers

    MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Shane Russell

    MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Anna Watson

    MEMBER

    Total calculated
    $0
    Hours/week
    5

  • Dwayne Wright

    MEMBER

    Total calculated
    $0
    Hours/week
    5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
12 March 2025
IRS schema version
2023v6.0
Source object
202500719349300735

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