Victory Center Ministries Inc
- Assets
- $2.5m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 9
- Location
- Clinton, IA
- Founding
- 06/2010
- Data as of
- 12/2023
- EIN
- 42-1295127
Organization Overview
Victory Center Ministries Inc is located in Clinton, IA. The organization was established in 2010. According to its NTEE Classification (X21) the organization is classified as: Protestant, under the broad grouping of Religion-Related and related organizations. As of 12/2023, Victory Center Ministries Inc employed 9 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Victory Center Ministries Inc 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 12/2023, Victory Center Ministries Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
VICTORY CENTER MINISTRIES IS DEDICATED TO PROVIDING SERVICES FOR FAMILIES, MEN, AND WOMEN WITH CHILDREN IN NEED. MOST IMPORTANTLY, A CARING AND SUPPORTIVE ENVIRONMENT IS PROVIDED WHERE LIVES ARE CHANGED AND INDIVIDUALS REGAIN THEIR SELF-ESTEEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VICTORY CENTER MINISTRIES OPERATES A FOOD BANK, PROVIDES A COMMUNITY MEAL AT THANKSGIVING, PROVIDES TEMPORARY SHELTER, TRANSITIONAL HOUSING, EMPLOYMENT ASSISTANCE, COUNSELING, DISTRIBUTES A COMMUNITY NEWSLETTER AND PROVIDES SPIRITUAL GUIDANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fidel Henderson Treasurer | Trustee | 0 | $22,000 |
Apostle Ray Gimenez Chairman | OfficerTrustee | 0 | $20,878 |
Jon Easlick Board Member | Trustee | 0 | $0 |
Dennis Hinson President | OfficerTrustee | 0 | $0 |
Steve Harmon Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,096,829 |
| Noncash contributions included in lines 1a–1f | $751,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,096,829 |
| Total Program Service Revenue | $29,778 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $800 |
| Net Gain/Loss on Asset Sales | -$90,950 |
| Net Income from Fundraising Events | $343 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,184,893 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $858,510 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $42,878 |
| Compensation of current officers, directors, key employees. | $4,288 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $100,300 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $48,668 |
| Payroll taxes | $10,711 |
| Fees for services: Management | $1,400 |
| Fees for services: Legal | $395 |
| Fees for services: Accounting | $1,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,965 |
| Advertising and promotion | $0 |
| Office expenses | $60,283 |
| Information technology | $6,926 |
| Royalties | $0 |
| Occupancy | $196,926 |
| Travel | $29,775 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,310 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,607 |
| Insurance | $13,725 |
| All other expenses | $0 |
| Total functional expenses | $1,428,729 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,116 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,220 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $10,446 |
| Inventories for sale or use | $1,527,452 |
| Prepaid expenses and deferred charges | $10,661 |
| Net Land, buildings, and equipment | $857,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,664 |
| Total assets | $2,494,426 |
| Accounts payable and accrued expenses | $44,718 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| 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 | $407,528 |
| Total liabilities | $452,246 |
| Net assets without donor restrictions | $0 |
| 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 | $2,042,180 |
| Total liabilities and net assets/fund balances | $2,494,426 |