Lighthouse Academies Of Indiana Inc
- Assets
- $16.0m
- Revenue
- $15.9m
- Investments
- $0.0
- Employees
- 139
- Location
- Indianapolis, IN
- Founding
- 02/2005
- Data as of
- 06/2022
- EIN
- 20-1738905
Organization Overview
Lighthouse Academies Of Indiana Inc, operating under the name Victory College Prep, is located in Indianapolis, IN. The organization was established in 2005. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Victory College Prep employed 139 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Victory College Prep is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Victory College Prep generated $15.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $13.0m during the year ending 06/2022. While expenses have increased by 1.8% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
COMPLETED OUR FIRST YEAR 100% IN PERSON SINCE BECOMING VICTORY COLLEGE PREP.
WE EXPANDED OUR NETWORK SUPPORT TEAM TO INCLUDE A CHIEF OPERATING OFFICER, TALENT AND COMMUNICATIONS COORDINATOR, CHIEF READINESS OFFICER, AND CHIEF ACADEMIC OFFICER.
INCREASED PROFICIENCY AND GROWTH ON ILEARN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ryan Gall Executive Director | Officer | 40 | $175,390 |
Adam Collins President | OfficerTrustee | 1 | $0 |
Ezra Burdix Vice President | OfficerTrustee | 1 | $0 |
Kara Masterson Treasurer | OfficerTrustee | 1 | $0 |
Marcie Brown-Carter Secretary | OfficerTrustee | 1 | $0 |
Jess Monk Chief Operating Officer | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Yojan Carpet Cleaning Carpet Cleaning And Installation | 6/29/22 | $161,275 |
Lavinia Group Education Services | 6/29/22 | $120,096 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $355 |
| Related organizations | $0 |
| Government grants | $15,677,261 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,107 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $15,687,723 |
| Total Program Service Revenue | $116,880 |
| Investment income | $4,325 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $80,000 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,931,838 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $395,926 |
| Compensation of current officers, directors, key employees. | $46,407 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,510,763 |
| Pension plan accruals and contributions | $228,934 |
| Other employee benefits | $580,396 |
| Payroll taxes | $487,695 |
| Fees for services: Management | $55,724 |
| Fees for services: Legal | $14,268 |
| Fees for services: Accounting | $82,101 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $190,856 |
| Advertising and promotion | $0 |
| Office expenses | $642,996 |
| Information technology | $105,881 |
| Royalties | $0 |
| Occupancy | $674,286 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $620,507 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $564,885 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $13,025,462 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,379,977 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $1,027,699 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $95,430 |
| Net Land, buildings, and equipment | $8,484,911 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,047,832 |
| Total assets | $16,035,849 |
| Accounts payable and accrued expenses | $992,088 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $12,949,166 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $809,875 |
| Total liabilities | $14,751,129 |
| Net assets without donor restrictions | $1,284,720 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $16,035,849 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Lighthouse Academies Of Indiana Inc has recieved totaling $615,391.
| Awarding Organization | Amount |
|---|---|
United Way Of Central Indiana Inc Indianapolis, IN PURPOSE: Program and/or Operating Support | $509,017 |
The Mind Trust Inc Indianapolis, IN PURPOSE: SEE ATTACHED | $83,000 |
Second Helpings Inc Indianapolis, IN PURPOSE: TO FEED THE HUNGRY | $16,374 |
Project Lead The Way Inc Indianapolis, IN PURPOSE: Equipment/PD | $7,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Chicago Schools Chicago, IL | $13,709,561 | $40,280,655 |
Phalen Leadership Academy-Indiana Inc Indianapolis, IN | $19,837,313 | $31,079,119 |
Carmen High School Of Science And Technology Inc Milwaukee, WI | $26,487,634 | $24,006,774 |
Kipp Indianapolis Inc Indianapolis, IN | $19,111,079 | $22,227,841 |
Frontier Schools Inc Kansas City, MO | $35,530,269 | $28,374,845 |
Intrinsic Schools Chicago, IL | $39,836,849 | $21,177,530 |
Guadalupe Educational Systems Inc Kansas City, MO | $13,472,707 | $27,548,134 |
Seeds Of Health Milwaukee, WI | $21,433,274 | $18,248,715 |
Ewing Marion Kauffman School Inc Kansas City, MO | $12,328,924 | $22,686,630 |
Hmong American Peace Academy Ltd Milwaukee, WI | $62,055,663 | $22,180,285 |
Crossroads Charter Schools Kansas City, MO | $14,061,355 | $16,288,564 |
Career Academy Of South Bend Inc South Bend, IN | $28,812,268 | $15,770,291 |