Dream On Foundation Inc
- Assets
- $778.1k
- Revenue
- -$27.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Chagrin Falls, OH
- Founding
- 12/2008
- Data as of
- 12/2022
- EIN
- 26-3073843
Organization Overview
Dream On Foundation Inc is located in Chagrin Falls, OH. The organization was established in 2008. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dream On Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST THE DREAM ON KIDS WHO STARTED FIRST GRADE IN THE FALL OF 2008 AT HANNA GIBBONS ELEMENTARY, AN INNER CITY SCHOOL IN A DISADVATAGED AREA, GRADUATE FROM HIGH SCHOOL IN 2020 AND FINANCIALLY SUPPORT THEM IN POST SECONDARY PROGRAMS LEADING TO EMPLOYMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE EXPENSES PAID TO ASSIST THE DREAM ON KIDS TO ACHIEVE THEIR ULTIMATE GOAL OF GRADUATING FROM COLLEGE. THESE EXPENSES INCLUDE ROOM AND BOARD, DORM SUPPLIES, WIFI TO ACCESS REMOTE LEARNING MODULES, TUITION, UNIFORMS, TRANSPORTATION, BOOKS, FOOD, SCHOOL SUPPLIES, PROGRAM FEES, AND COMPUTER SUPPLIES. PLANNED ACTIVITIES AND COUNSELING ARE PROVIDED TO THE STUDENTS AS A WAY FOR THEM TO BUILD SELF-ESTEEM AND SHOW THEM THAT THERE IS ANOTHER WORLD OUTSIDE THE ROUGH STREETS OF CLEVELAND. TRAINING MATERIALS ALONG WITH VARIOUS RESOURCE MATERIALS ARE USED IN THE PROGRAM TO INFORM AND GUIDE PARENTS TO HELP THEM ASSIST THE CHILDREN PARTICIPATING IN THE PROGRAM TO ACHIEVE SUCCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gretchen Walsh Director | Trustee | 0.33 | $0 |
Denise Cunningham Doggett Director | Trustee | 0.33 | $0 |
Jo Lavine Director | Trustee | 0.33 | $0 |
Kristen Fistek Director | Trustee | 0.33 | $0 |
Randy Woods Director | Trustee | 0.33 | $0 |
Ann Hawkins Director | Trustee | 0.33 | $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 | $1,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,000 |
| Total Program Service Revenue | $0 |
| Investment income | $14,734 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$43,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$27,766 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $725 |
| Fees for services: Accounting | $1,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,182 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,685 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $248 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,491 |
| All other expenses | $0 |
| Total functional expenses | $107,153 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,055 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $724,002 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $778,057 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $778,057 |
| Total liabilities and net assets/fund balances | $778,057 |