Victory College Prep INC FY2024 filing

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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.

501(c)(3) charity; gifts are tax-deductible.
86¢ of each $1 spent went to programs.
$204K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $973K a year · 6% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
86%
of spending
Looks good: 86% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$204K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
6 mo
of spending, in cash
Looks good: 5.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $349K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$14.9M
72% of total assets
Worth a look: liabilities are 72% of assets; over 65%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$18.1M
+0.4% vs prior year
Spent
$16.9M
To programs
86%
Net assets
$5.8M
By yearFY2020–FY2025
Revenue
$18.1M
FY2024+0.4%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.7M
FY2021$8.7M
FY2022$15.9M
FY2023$18.0M
FY2024$18.1M
FY2025$17.5M
Expenses
$16.9M
FY2024▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$10.6M
FY2021$11.2M
FY2022$13.0M
FY2023$14.7M
FY2024$16.9M
FY2025$17.5M
Net assets
$5.8M
FY2024▲ +26%
Tap a bar for its year
Net assets by fiscal year
FY2020$944K
FY2021−$1.6M
FY2022$1.3M
FY2023$4.6M
FY2024$5.8M
FY2025$5.7M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2005.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

86 cents of each dollar spent went to programs.

Program services 86% · $14.5M Management & general 14% · $2.4M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

11 people listed on the 990; $204K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Director
$184,480Pt VII · Sec A
Chief Operating Officer
$19,904Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Ryan Gall’s $184K as Executive Director is at the 30th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 7 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Ryan Gall$183,933$184,480$172,919$175,390$170,298$67,704
Kim Randall——$121,281———
Jess Monk——$110,379———
Chelsea Easter——$107,439———
Michael Lipphardt————$100,062$43,532
Patricia Schelling$98,808—————
Luke Kahren—$19,904————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Victory College Prep INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Boosts academic success through more instruction, smaller classes, and a strong foundation.

Questions for Victory College Prep INC

Tap to ask. Victory College Prep INC sees how many people are interested.

Your first name shows with your question. Victory College Prep INC answers here, for everyone.

3 programs · $14.5M · in their own filed words · FY2023
01

Enrollment

VCP has increased new enrollment by almost 10% and re-enrollment by 13% from last year, while maintaining our retention rate above 95%.

$14.5Mprogram expense
02

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.

Pt IX · col B
03

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.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 3 funders$349K
See all 3 funders →

Federal money

Single Audit · Federal Audit Clearinghouse · money spent from federal programs
Year ending Jun 2025 · $2.2M federal money spent
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through Indiana Department of Education$903K
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Indiana Department of Education$657K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through Indiana Department of Education$269K
Special Education_grants to StatesDepartment of Education · ALN 84.027 · Through Indiana Department of Education$237K
Improving Teacher Quality State GrantsDepartment of Education · ALN 84.367 · Through Indiana Department of Education$90K

Plus 3 smaller programs.

The auditor reported no findings.

Year ending Jun 2024 · $4.6M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through Indiana Department of Education$2.4M
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through Indiana Department of Education$898K
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Indiana Department of Education$639K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through Indiana Department of Education$252K
Special Education_grants to StatesDepartment of Education · ALN 84.027 · Through Indiana Department of Education$231K

Plus 3 smaller programs.

The auditor reported no findings.

Year ending Jun 2023 · $6.8M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through Indiana Department of Education$4.5M
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through Indiana Department of Education$895K
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Indiana Department of Education$537K
Special Education_grants to StatesDepartment of Education · ALN 84.027 · Through Indiana Department of Education$214K
School Breakfast ProgramDepartment of Agriculture · ALN 10.553 · Through Indiana Department of Education$212K

Plus 5 smaller programs.

The auditor reported 4 findings: a weakness in money controls.

Year ending Jun 2022 · $5.7M federal money spent
Education Stabilization FundDepartment of Education · ALN 84.425 · Through Indiana Dept. of Education$3.2M
Title I Grants to Local Educational AgenciesDepartment of Education · ALN 84.010 · Through Indiana Dept. of Education$972K
National School Lunch ProgramDepartment of Agriculture · ALN 10.555 · Through Indiana Dept. of Education$509K
Charter SchoolsDepartment of Education · ALN 84.282 · Through Indiana Dept. of Education$384K
Special Education_grants to StatesDepartment of Education · ALN 84.027 · Through Indiana Dept. of Education$264K

Plus 4 smaller programs.

The auditor reported no findings.

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$18.1M
Ln 12
Gifts and grantsLn 1h$17.6M
Investment incomeLn 3$240K
Fees for servicesLn 2g$148K
Money outPt IX
$16.9M
Ln 25
Programscol B$14.5M
Managementcol C$2.4M
Owns and owesPt X
$5.8M
net assets · Ln 32
Cash and savingsLn 1–2$7.8M
Total assetsLn 16$20.7M
LiabilitiesLn 26$14.9M
PeoplePt VI, VII
11
listed · VII A
PaidVII A2
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$17.6M
Government grantsLn 1e$16.1M
Fundraising eventsLn 1c$17K
Fees for servicesLn 2g$148K
Investment incomeLn 3$240K
Other incomeLn 4–11$115K
Total revenueLn 12$18.1M
Assets in detailPt X, end of year
CashLn 1$1.2M
SavingsLn 2$6.6M
Cash and savings togetherLn 1–2$7.8M
Land, buildings, equipmentLn 10c$11.3M
Other assetsLn 15$1.1M
Total assetsLn 16$20.7M
LiabilitiesLn 26$14.9M
Net assetsLn 32$5.8M
OperationsPt I, VI
EmployeesI 572
VolunteersI 612
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3More from this return
BondsSch K, Pt X
Tax-exempt bond debt owedX 20$12.6M
Bond issues listedSch K Pt I1
Raised by those issuesSch K Pt I$13.3M
4Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$7.2M$7.8M
Land, buildings, equipmentLn 10c$10.4M$11.3M
Total assetsLn 16$19.2M$20.7M
LiabilitiesLn 26$14.6M$14.9M
Net assetsLn 32$4.6M$5.8M
5Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$301K$249K$52K
Other salaries and wagesLn 7$8.4M$7.0M$1.4M
Pension plan contributionsLn 8$212K$156K$55K
Other employee benefitsLn 9$833K$615K$218K
Payroll taxesLn 10$625K$461K$163K
Management feesLn 11a$66K$66K
Legal feesLn 11b$51K$51K
Accounting feesLn 11c$97K$97K
Other fees for servicesLn 11g$177K$103K$73K
Advertising and promotionLn 12$38K$38K
Office expensesLn 13$659K$602K$57K
Information technologyLn 14$223K$223K
OccupancyLn 16$998K$998K
TravelLn 17$11K$11K
InterestLn 20$626K$626K
Depreciation, depletion and amortizationLn 22$801K$801K
Other expenses (24a–d)Ln 24$2.6M$2.5M$99K
All other expensesLn 24e$189K$177K$12K
Total functional expensesLn 25$16.9M$14.5M$2.4M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Dec 22, 2025 $17.5M$17.5M−$60K$5.7M 990 PDF
FY2024 ViewingFiled with the IRS Mar 12, 2025 $18.1M$16.9M$1.2M$5.8M 990 PDF
FY2023Filed with the IRS Mar 25, 2024 $18.0M$14.7M$3.3M$4.6M 990 PDF
FY2022Filed with the IRS Mar 14, 2023 $15.9M$13.0M$2.9M$1.3M 990 PDF
FY2021Filed with the IRS May 13, 2022 $8.7M$11.2M−$2.6M−$1.6M 990 PDF
FY2020Filed with the IRS May 14, 2021 $11.7M$10.6M$1.1M$944K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $18,071,924 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $17,766,139$17,569,111
I-9 Program service revenuePrior year $112,889$148,136
I-10 Investment incomePrior year $58,514$239,985
I-11 Other revenuePrior year $60,100$114,692
I-12 Total revenuePrior year $17,997,642$18,071,924
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $9,293,397$10,355,843
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,423,522$6,525,488
I-18 Total expensesPrior year $14,716,919$16,881,331
I-19 Revenue less expensesPrior year $3,280,723$1,190,593
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $18,071,924 across 10 lines filed
VIII-1a Federated campaigns$63,244
VIII-1c Fundraising events$16,816
VIII-1e Government grants$16,146,787
VIII-1f All other contributions, gifts and grants$1,342,264
VIII-1h Total contributions, gifts and grants$17,569,111
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $148,136$148,136
VIII-3 Investment incomeExcluded from tax $239,985$239,985
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $114,692$114,692
VIII-12 Total revenueRelated to mission $262,828 · Unrelated business $0 · Excluded from tax $239,985$18,071,924
Part IX · Statement of functional expenses $16,881,331 across 18 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $248,915 · Management $51,983$300,898
IX-7 Other salaries and wagesPrograms $7,010,213 · Management $1,375,163$8,385,376
IX-8 Pension plan contributionsPrograms $156,256 · Management $55,299$211,555
IX-9 Other employee benefitsPrograms $615,424 · Management $217,797$833,221
IX-10 Payroll taxesPrograms $461,477 · Management $163,316$624,793
IX-11a Management feesManagement $65,735$65,735
IX-11b Legal feesManagement $50,521$50,521
IX-11c Accounting feesManagement $96,782$96,782
IX-11g Other fees for servicesPrograms $103,476 · Management $73,325$176,801
IX-12 Advertising and promotionManagement $37,718$37,718
IX-13 Office expensesPrograms $601,919 · Management $57,285$659,204
IX-14 Information technologyPrograms $223,399$223,399
IX-16 OccupancyPrograms $998,464$998,464
IX-17 TravelManagement $10,942$10,942
IX-20 InterestPrograms $625,865$625,865
IX-22 Depreciation, depletion and amortizationPrograms $800,795$800,795
IX-24 Other expenses (24a–d)Programs $2,490,635 · Management $99,445$2,590,080
IX-24e All other expensesPrograms $177,179 · Management $12,003$189,182
IX-25 Total functional expensesPrograms $14,514,017 · Management $2,367,314 · Fundraising $0$16,881,331
Part X · Balance sheet $20,689,419 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $1,667,424$1,209,052
X-2 Savings and temporary cash investmentsStart of year $5,555,237$6,572,844
X-3 Pledges and grants receivableStart of year $504,047$420,888
X-10c Land, buildings and equipment, netStart of year $10,352,497$11,345,318
X-15 Other assetsStart of year $1,102,026$1,141,317
X-16 Total assetsStart of year $19,181,231$20,689,419
X-17 Accounts payable and accrued expensesStart of year $1,009,782$1,076,123
X-20 Tax-exempt bond liabilitiesStart of year $12,796,131$12,638,096
X-25 Other liabilitiesStart of year $809,875$1,219,164
X-26 Total liabilitiesStart of year $14,615,788$14,933,383
X-27 Net assets without donor restrictionsStart of year $4,565,443$5,756,036
X-32 Total net assets or fund balancesStart of year $4,565,443$5,756,036
X-33 Total liabilities and net assetsStart of year $19,181,231$20,689,419
Part XI · Reconciliation of net assets $5,756,036 net assets at year end
XI-1 Total revenue$18,071,924
XI-2 Total expenses$16,881,331
XI-3 Revenue less expenses$1,190,593
XI-4 Net assets at start of year$4,565,443
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$5,756,036

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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