Victory Outreach is an independent fellowship of churches with each local church having complete sovereignty and autonomy, also being both self-governing and self-supporting.
To maximize its potential for growth around the globe, Victory Outreach has in place a structure that decentralizes the decision-making processes, empowering local churches to meet the needs of their communities, utilizing their own distinctive approach. According to this structure, each church of Victory Outreach is an independent and autonomous corporation. By operating ministries independently, new leadership will develop to propel this fellowship into the new millennium.
Each church of Victory Outreach is a part of a region within a district and is required to adhere to the Statement of Faith and Core Values as set forth by Victory Outreach International.
Victory Outreach International operates primarily as a service organization for the local churches of Victory Outreach.
Statement of Financial Stewardship
Victory Outreach International takes seriously the matter of financial stewardship and strives to abide by the highest standards of fiscal integrity. Toward that end, the fellowship maintains the following policies:
Solicitation of funds –-The church teaches that Christians have a spiritual duty to financially support their church and encourages each member to give as he or she is able and has been blessed by God. Thus, most but not all of our revenue is raised from our church members and is solicited, if at all, from verbal or written appeals in accordance with our doctrines. The practice of tithing, while not mandated, is encouraged as a minimum standard of Christian financial stewardship. In its representations of need, the church strives at all times to state its financial status truthfully and factually, and does not accept a restriction on any donation that it does not intend, in fact, to honor.
Use of exempt funds –Donated monies received are used only in accordance with the legally exempt purposes of the church and related entities, as are allowed by law and stated in the various governing documents.
Accounting practices and procedures –The church maintains its accounts on an in-house computer system using third-party produced software in a manner conforming to generally accepted accounting principles. Its accounting system operates under internal controls that are designed to safeguard the church’s assets and produce accurate and reliable accounting information. Examples of internal controls used include: a system for the authorization and approval of transactions and the separation of record-keeping and reporting duties from those concerned with operations or asset custody, and the physical control of assets. Daily and monthly reports are generated to ensure the integrity of the financial operating system.
Reviewed financial statements — Each year the church produces a financial statement that is reviewed by an independent Certified Public Accountant. Such annual review is issued only after the church’s president and treasurer issue a formal, written representation to the Certified Public Accountant that the organization has, in good faith, provided everything for which the Certified Public Accountant has asked, and that to the best of their knowledge, no irregular transactions have occurred, and no violations or possible violations of laws or regulations have occurred that should have been disclosed.
Board-level authorization and oversight — Members of the board of directors of Victory Outreach International are instructed in and understand their duties under the law, to use proper legal care in the exercise of their duties. Accordingly, the board approves annual budgets of the church, approves all major financial transactions before being executed, the church’s treasurer makes regular financial reports to the board, and each annual financial statement is presented to the board for its review.
Professional consultation –The church’s board and its officers retain both inside and outside, independent, legal and financial counsel, and in addition to close and continual consultation in the regular course of business, seek their opinion on special matters as prudence dictates. These opinions are noted in the minutes of the board meetings when appropriate.
Prohibition against inurement and conflicts — The title to all property and assets of the fellowship is held in the name of the entity, is irrevocably dedicated to its exempt purposes and will not inure to the benefit of any private party. In addition, any financial transaction involving any board member that may conceivably involve a financial conflict of interest is subjected beforehand to the scrutiny and advice of financial consultation, legal counsel, and to the various state or federal laws regarding such matters.
Internal Revenue Service (IRS) and state contribution regulations –The codes and rules of the Internal Revenue Service and of the State of California regarding the solicitation, acknowledgement or receipt of, accounting for and use of tax exempt funds are complied with carefully. For this reason, all charitable donations to the church are tax deductible. All tax or financial informational returns filed with any state or federal agency are reviewed and countersigned by an independent Certified Public Accountant before being issued.