Victory Television Network Inc
- Assets
- $11.9m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 22
- Location
- Little Rock, AR
- Founding
- 06/2015
- Data as of
- 12/2020
- EIN
- 47-2658744
Organization Overview
Victory Television Network Inc is located in Little Rock, AR. The organization was established in 2015. According to its NTEE Classification (X82) the organization is classified as: Religious Television, under the broad grouping of Religion-Related and related organizations. As of 12/2020, Victory Television Network Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 12/2020, Victory Television Network Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $3.2m during the year ending 12/2020. While expenses have increased by 1.6% per year over the past 5 years. They've been increasing with an increasing level of total revenue. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE VICTORY TELEVISION NETWORK (VTN) IS A NETWORK OF FULL-POWERED, COMMERICAL TV STATIONS IN ARKANSAS, INCLUDING KVTN-DT IN LITTLE ROCK/PINEBLUFF, KVTH-DT IN HOT SPRINGS AND KVTJ-DT IN JONESBORO. FOUNDED BY PASTORS HAPPY AND JEANNE CALDWELL, VTN'S BOLD MISSION HAS ONE SIMPLE OBJECTIVE: TO REACH THE STATE OF ARKANSAS AND SURROUNDING COVERAGE AREAS IN MISSOURI, TENNESSEE AND MISSISSIPPI WITH THE LIFE-CHANGING MESSAGE OF JESUS CHRIST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AS THE ONLY CHRISTIAN TELEVISION NETWORK HEADQUARTERED IN ARKANSAS, THE ORGANIZATION'S OBJECTIVE IS TO REACH ACROSS ALL DENOMINATIONAL BARRIERS TO CONNECT ITS AUDIENCE WITH THE GOOD NEWS OF JESUS CHRIST THROUGH THE USE OF MASS COMMUNICATION THROUGH TELEVISION, THE INTERNET, AND DISTRIBUTION OF TEACHING MATERIALS IN THE FORM OF CDS, DVDS, AND OTHER LITERATURE. THE ORGANIZATION'S COVERAGE IS THE ENTIRE STATE OF ARKANSAS, SOUTHEAST MISSOURI, AND WESTERN TENNESSEE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev James R Grant Gen Manager | OfficerTrustee | 40 | $95,752 |
Dr Happy Lcaldwell President | OfficerTrustee | 10 | $84,206 |
Mary S Kelemen Secretary | OfficerTrustee | 0 | $0 |
Rev Jeanne Caldwell Vice President | OfficerTrustee | 0 | $0 |
Dr Rex Horne Director | Trustee | 0 | $0 |
John Turver Director | Trustee | 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 | $1,001,992 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,001,992 |
| Total Program Service Revenue | $1,259,068 |
| Investment income | $333 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,480,493 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,053,737 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $46,229 |
| Payroll taxes | $68,663 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,572 |
| Fees for services: Accounting | $14,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,836 |
| Advertising and promotion | $1,253 |
| Office expenses | $11,562 |
| Information technology | $77,942 |
| Royalties | $13,164 |
| Occupancy | $191,785 |
| Travel | $31,190 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $134 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,329,139 |
| Insurance | $86,471 |
| All other expenses | $77,198 |
| Total functional expenses | $3,194,912 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,266,531 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $111,308 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $46,624 |
| Net Land, buildings, and equipment | $9,508,244 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,932,707 |
| Accounts payable and accrued expenses | $59,537 |
| Grants payable | $0 |
| Deferred revenue | $114,675 |
| 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 | $0 |
| Total liabilities | $174,212 |
| Net assets without donor restrictions | $11,497,394 |
| Net assets with donor restrictions | $261,101 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $11,932,707 |
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