Civic Intelligence

Victory Gallop Inc.

990 • Fiscal year 2017 • EIN 34-1787436

Jan 01, 2017 to Dec 31, 2017 • Filed on Jul 20, 2018

1745 North Hametown RdAkron, OH 44333-1061

(330) 666-0300

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Liabilities / Revenue

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Net Margin

68th percentile

13%

Higher net margin than 68% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Top Officer Pay

95th percentile

$62,946

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 15.9% of source-year revenue.

2017 filings • 501(c)3 • <$500k nonprofits • Source year 2017

Asset Growth

70th percentile

19%

Faster asset growth than 70% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Revenue Growth

80th percentile

34%

Faster revenue growth than 80% of similar nonprofits.

2017 filings • 501(c)3 • <$500k nonprofits • Annualized from 2016 to 2017

Assets

Up

$363,642

Up $56,848 (+19%) from 2016

Net Assets

Up

$363,642

Up $56,848 (+19%) from 2016

Liabilities

Flat

$0

Flat from 2016

Revenue

Up

$397,093

Up $100,859 (+34%) from 2016

Expenses

Up

$344,918

Up $8,963 (+2.7%) from 2016

Net Income

Up

$52,175

Up $91,896 (+231%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2015: $346,980Liabilities 2015: $0Net Assets 2015: $346,9802015Assets 2016: $306,794Liabilities 2016: $0Net Assets 2016: $306,7942016Assets 2017: $363,642Liabilities 2017: $0Net Assets 2017: $363,6422017Assets 2018: $351,477Liabilities 2018: $0Net Assets 2018: $351,4772018Assets 2019: $368,373Liabilities 2019: $0Net Assets 2019: $368,3732019Assets 2020: $514,601Liabilities 2020: $35,900Net Assets 2020: $478,7012020Assets 2021: $592,823Liabilities 2021: $0Net Assets 2021: $592,8232021Assets 2022: $531,478Liabilities 2022: $0Net Assets 2022: $531,4782022Assets 2024: $502,458Liabilities 2024: $0Net Assets 2024: $502,4582024

Highlighted filing

2017

Assets$363,642
Liabilities$0
Net Assets$363,642

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0-$200KRevenue 2015: $459,486Expenses 2015: $315,514Net Income 2015: $143,9722015Revenue 2016: $296,234Expenses 2016: $335,955Net Income 2016: -$39,7212016Revenue 2017: $397,093Expenses 2017: $344,918Net Income 2017: $52,1752017Revenue 2018: $342,764Expenses 2018: $354,106Net Income 2018: -$11,3422018Revenue 2019: $384,608Expenses 2019: $374,149Net Income 2019: $10,4592019Revenue 2020: $450,811Expenses 2020: $380,156Net Income 2020: $70,6552020Revenue 2021: $443,831Expenses 2021: $456,232Net Income 2021: -$12,4012021Revenue 2022: $377,623Expenses 2022: $451,737Net Income 2022: -$74,1142022Revenue 2024: $523,717Expenses 2024: $495,470Net Income 2024: $28,2472024

Highlighted filing

2017

Revenue$397,093
Expenses$344,918
Net Income$52,175
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Jul 20, 2018
Return Version
2017v2.3
Gross Receipts
$453,002
Mission and Program Overview

Mission

Victory Gallop provides innovative, progressive, quality therapy to children with life-threatening illnesses, and, behavioral and/or emotional challenges through the use of horses.

Victory Gallop provides innovative, progressive, quality therapy to children with life-threatening illnesses, and, behavioral challenges through the use of horses.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$215,541$230,893▲ $15,352
Cash and Non-Interest-Bearing Accounts$58,908$94,653▲ $35,745
Investments in Publicly Traded Securities$31,529$37,260▲ $5,731
Savings and Temporary Cash Investments$816$836▲ $20
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$306,794$363,642▲ $56,848
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Other Liabilities$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$244,899$298,398▲ $53,499
Temporarily Rstr Net Assets$36,000$36,000→ $0
Permanently Rstr Net Assets$25,895$29,244▲ $3,349
Total Net Assets Fund Balance$306,794$363,642▲ $56,848
Total Liabilities and Net Assets / Fund Balance$306,794$363,642▲ $56,848

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$179,206$194,244$373,450
Other Land Buildings$51,687$75,900$127,587

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$26,950-▲ $3,902-$29,244
2016$27,240-▲ $1,369-$26,950
2015$28,152-▲ $973-$27,240
2014$29,172$40▲ $836-$28,152
2013$26,132-▲ $4,834-$29,172
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kim GustelyCo-executive directorFT$62,946$62,946
Susan MillerCo-executive directorFT$62,946$62,946

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$311,950
Program Service Revenue
$51,770
Investment Income
$9,825
Other Revenue
$23,548
All Other Contributions
$137,995
Change in Net Assets
$52,175
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$187,001
Salaries, Compensation, and Employee Benefits$157,917
Total Fundraising Expense$340
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$113,304$12,590-$125,894
Occupancy$44,480$12,579-$57,059
Other Salaries and Wages$20,140$2,238-$22,378
Depreciation Depletion-$17,999-$17,999
Other Expenses$16,274$341-$16,274
Payroll Taxes$10,208$1,134-$11,342
Office Expenses$3,516$4,283$340$8,139
Fees for Services Accounting-$6,600-$6,600
Insurance$3,084$1,483-$4,567
Fees for Services Other$2,479--$2,479
Advertising$1,860--$1,860
All Other Expenses$662--$662
Other Employee Benefits-$-1,697-$-1,697
Total Functional Expenses$287,028$57,550$340$344,918
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$74,678
Fundraising Direct Expenses$51,130
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Hoe Down$108,430$71,260$5,957$65,303
Tennis$106,996$1,475$2,014$-539
Total Events$240,004$72,735$49,119$23,616
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
David and Sue MillerBoard MembersRentNo$22,135

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 Part VI, Line 2

Sue Miller, Director, and David Miller, trustee, have a family relationship.

Form 990, Part VI, Line 11B

Form 990 is reviewed by the co-executive directors and the treasurer prior to filing with the IRS. It is then provided to the rest of the board members for a review for accuracy and completeness.

Form 990, Part VI, Line 12C

Whenever a director or officer has a financial or personal interest in any matter coming before the board of directors, the board shall ensure that: 1. The interest of such officer or director is fully disclosed to the board of directors. 2. No interested officer or director may vote or lobby on the matter or be counted in determining the existence of a quorum at the meeting of the board of directors at which such matter is voted upon. 3. Any transaction in which a director or officer has a financial or personal interest shall be duly approved by members of the board of directors not so interested or connected as being in the best interests of the organization. 4. Payments to the interested officer of director shall be reasonable and should not exceed fair market value. 5. The minutes of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval.

Form 990 Part VI, Line 15A

The board reviews comparable data from other organizations and what the organization can afford to determine the salaries of co-executive directors.

Form 990 Part VI, Line 19

The organization makes is governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Victory Gallop Inc
EIN
34-1787436
In Care Of
% KIM GUSTELY
Phone
3306660300
Address
1745 North Hametown Rd, Akron, OH 44333-1061

Signing Officer

Name
Kim Gustely
Title
executive director
Phone
3306660300
Signed
2018-07-20

Organization Details

Principal Officer
Kim Gustely
Formed
1994
Legal Domicile
Oh
Voting Board Members
18
Independent Board Members
16
Employees
5
Volunteers
80

Preparer

Firm
Bdo USA Llp
Address
301 SPRINGSIDE DRIVE, AKRON, OH 44333
Preparer
Thomas Kotick
Phone
3306689696
Supplemental Narrative

Financial Statement Notes

Part V, Line 4

The organization's endowment fund will help expand the organization's operations and ensure that the organization's mission will continue for future years.

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