VICTORY LIFE CHURCH OF CORINTH

EIN: 752896629 501(c)(3)

Corinth, TX

Total Revenue
$617,361
Total Expenses
$456,015
Total Assets
$385,351
Net Assets
$385,351
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2016
Legal Domicile
TX
Phone
9188070969
Tax Period
2024-01-01 to 2024-12-31

VICTORY LIFE CHURCH OF CORINTH, founded in 2016, is a small nonprofit that reported $617K in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year. The organization ran a surplus of $161K, a strong 26% operating margin.

Mission

TO CREATE A PLACE OF WORSHIP AND UNITE PEOPLE OF LIKE FAITH IN THE BONDS OF BROTHERLY LOVE AND FELLOWSHIP. TO WORSHIP GOD IN SPIRIT AND IN TRUTH AND RECEIVE SPIRITUAL TEACHIN TO PROVIDE CHRISTIAN CONDUCT BASED UPON THE WORD OF GOD

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $611,484
Program Service Revenue $0
Investment Income $5,877
Other Revenue $0
TOTAL REVENUE $617,361

Expense Breakdown

Grants Paid $0
Salaries & Benefits $184,083
Fundraising Expenses $0
Program Expenses $249,567
Other Expenses $245,334
TOTAL EXPENSES $456,015

Year-over-Year Comparison

2024 2023 Change
Revenue $617,361 $652,414 -0.1%
Expenses $456,015 $524,757 -0.1%
Net Income $161,346 $127,657 +0.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
250
Independent Members
250
Employees
1
Volunteers
100

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$112,383
Total Directors
1
$112,383
Key Employees
1
$112,383
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Gary Weatheread Pastor 50.00
Officer Director Key Emp
$0 $112,383 $112,383
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $617,361 $456,015 $385,351 $161,346
2023 $652,414 $524,757 $224,005 $127,657
2022 $606,865 $510,517 $96,348 $96,348
2019 $471,240 $471,240 $1,202,852 No data
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