Victory Academy of Toledo

Nonprofit profile at a glance

EIN
881004975
IRS 990 coverage
2022–2023
Forms available
Form 990 2023
Location
Toledo, OH, USA
Phone
4194428455
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Elementary, Secondary Education, K - 12

Official website

Reported finances

Revenue
$1,435,557
Expenses
$1,609,763
Assets
$1,042,739
Liabilities
$1,720,252

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

5 people listed

Executive titles in this filing

  • RACHEL HANNON (PRESIDENT)
  • MICHELLE SHEPHARD (VICE PRESIDENT)

People named in this filing

  • RACHEL HANNON (PRESIDENT)
  • MICHELLE SHEPHARD (VICE PRESIDENT)
  • CHERYL MECCHI (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Fostering a growth mindset within our learners and helping them to recognize their worth and the potential they have to make a positive impact. Embracing diversity in a safe environment that is conducive to learning.

Operating model

Revenue model
Grant-funded. 97% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 99%; rating input score 99
  • Program expense ratio: 88.3%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.1%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.65; rating input score 29; 29th percentile among comparable filings
  • Liabilities to assets ratio: 1.65; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 26% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 68.6% per year; rating input score 100; 98th percentile among comparable filings
  • Asset growth: 61.1% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 99% of revenue deployed · 88.3% of spending went to programs
  • Governance: 5 of 5 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Highest-paid contractors: 1 contractor listed · $170K reported
  • Consistency: 24 of 24 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 2 filing years from 2022 to 2023
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Sustainability: Total-asset coverage ratio scored 29/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.