Civic Intelligence

Victory Gallop Inc.

990 • Fiscal year 2020 • EIN 34-1787436

Jan 01, 2020 to Dec 31, 2020 • Filed on May 27, 2021

1745 N Hametown RoadAkron, OH 44333-1061

(330) 666-0300

Siviq Scores

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

Liabilities / Assets

55th percentile

0.07x

Higher debt load relative to assets than 55% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Liabilities / Revenue

54th percentile

0.08x

Higher debt load relative to revenue than 54% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Net Margin

65th percentile

16%

Higher net margin than 65% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Top Officer Pay

77th percentile

$71,032

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 15.8% of source-year revenue.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2020

Asset Growth

79th percentile

40%

Faster asset growth than 79% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Revenue Growth

72nd percentile

17%

Faster revenue growth than 72% of similar nonprofits.

2020 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2019 to 2020

Assets

Up

$514,601

Up $146,228 (+40%) from 2019

Net Assets

Up

$478,701

Up $110,328 (+30%) from 2019

Liabilities

Up

$35,900

Up $35,900 from 2019

Revenue

Up

$450,811

Up $66,203 (+17%) from 2019

Expenses

Up

$380,156

Up $6,007 (+1.6%) from 2019

Net Income

Up

$70,655

Up $60,196 (+576%) from 2019

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

2020

Assets$514,601
Liabilities$35,900
Net Assets$478,701

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

2020

Revenue$450,811
Expenses$380,156
Net Income$70,655
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
May 27, 2021
Return Version
2020v4.0
Gross Receipts
$474,988
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$252,928$265,098▲ $12,170
Cash and Non-Interest-Bearing Accounts$86,425$218,721▲ $132,296
Investments in Publicly Traded Securities$29,020$30,782▲ $1,762
Total Assets$368,373$514,601▲ $146,228
Liabilities
Other Liabilities-$35,900-
Total Liabilities$0$35,900▲ $35,900
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$303,353$411,919▲ $108,566
Net Assets With Donor Restrictions$65,020$66,782▲ $1,762
Total Net Assets Fund Balance$368,373$478,701▲ $110,328
Total Liabilities and Net Assets / Fund Balance$368,373$514,601▲ $146,228

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$235,355$201,725$437,080
Equipment$29,743$65,176$94,919

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$29,020-▲ $3,396-$30,782
2019$25,784-▲ $4,830-$29,020
2018$29,244-▼ $1,891-$25,784
2017$26,950-▲ $3,902-$29,244
2016$27,240-▲ $1,369-$26,950
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Kim GustelyCo-exec. DirectorFT$71,032$71,032
Susan MillerCo-exec. Director-$71,032$71,032

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$199,200
Program Service Revenue
$44,565
Investment Income
$-7,348
Other Revenue
$214,394
All Other Contributions
$180,500
Change in Net Assets
$70,655
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$196,068
Other Expenses$184,088
Total Fundraising Expense$742
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$163,470$18,163-$181,633
Occupancy$29,719$1,752-$31,471
Depreciation Depletion-$25,999-$25,999
Payroll Taxes$11,927$1,325-$13,252
All Other Expenses$8,543-$742$9,285
Insurance$6,880$350-$7,230
Fees for Services Accounting-$7,137-$7,137
Office Expenses$3,505$227-$3,732
Other Expenses$2,471--$2,471
Advertising$1,821--$1,821
Other Employee Benefits-$1,183-$1,183
Travel$1,057--$1,057
Total Functional Expenses$323,278$56,136$742$380,156
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$231,223
Fundraising Direct Expenses$16,829
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
25th Anniversar$225,236$225,236$8,342$216,894
Annual Fund$18,700---
Total Events$249,923$231,223$16,829$214,394
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 Susan MillerBoard MembersRentNo$17,520
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Ppp Loan$35,900
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
Other officer compensation reviewed
No
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, Page 6, Part VI, Line 2

Sue miller david miller director trustee married, family relationship tracy worley brandon worley trustee trustee married, family relationship

Form 990, Page 6, Part VI, Line 11B

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

Form 990, Page 6, 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 director or officer shall be reasonable and should not exceed the fair market value for any such transaction. 5 - the minutes of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval.

Form 990, Page 6, Part VI, Line 15A

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

Form 990, Page 6, Part VI, Line 19

The organization makes its 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
Phone
3306660300
Address
1745 N HAMETOWN ROAD, AKRON, OH 44333-1061

Signing Officer

Name
Kim Gustely
Title
Co-exec. Director
Phone
3306660300
Signed
2021-05-27
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kim Gustely
Formed
1995
Legal Domicile
Oh
Voting Board Members
14
Independent Board Members
14
Employees
6
Volunteers
75

Preparer

Firm
The Ten Key Group LLC
Address
470 PORTAGE LAKES DRIVE SUITE 102, AKRON, OH 44319-2292
Preparer
David a Zajac
Phone
2343341966
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Bwc refunds 21,844 stimulus payments 5,000 total 26,844

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The 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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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ENDOWMENT FUND WILL HELP EXPAND THE ORGANIZATION'S OPERATIONS AND ENSURE THAT THE ORGANIZATION'S MISSION WILL CONTINUE FOR FUTURE YEARS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
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