Follow Your Dream Foundation Inc
- Assets
- $43.7m
- Revenue
- $45.7m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 12/2001
- Data as of
- 06/2023
- EIN
- 38-3581515
Organization Overview
Follow Your Dream Foundation Inc is located in New York, NY. The organization was established in 2001. According to its NTEE Classification (Q70) the organization is classified as: International Human Rights, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Follow Your Dream 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.
For the year ending 06/2023, Follow Your Dream Foundation Inc generated $45.7m in total revenue. All expenses for the organization totaled $25.5m during the year ending 06/2023. While expenses have increased by 126.1% per year over the past 7 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.
Since 2021, Follow Your Dream Foundation Inc has awarded 46 individual grants totaling $19,025,624. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE BETTER FUTURES FOR DISADVANTAGED PEOPLE
Describe the Organization's Program Activity:
Part 3 - Line 4a
RUNNING THE LIVELIHOOD IMPACT FUND PROGRAM, WHICH PROVIDES GRANTS AND LOANS AND INTENSIVE CONSULTING SUPPORT FOR ORGANIZATIONS WORKING TO INCREASE INCOMES FOR THE POOR.AS PART OF THE LIVELIHOOD IMPACT FUND PROGRAM, FOLLOW YOUR DREAM HAS A TEAM OF STAFF, CONSULTANTS AND VOLUNTEERS WHO WORK CLOSELY WITH OUR GRANTEES. THIS TEAM HAS SPECIALIZED SKILLS AND EXPERTISE IN A RANGE OF RELEVANT AREAS. THEY PROVIDE CAPACITY BUILDING SUPPORT TO OUR GRANTEES AND ALSO OVERSEE OUR RESEARCH GRANTS. IN SOME AREAS, SUCH AS OUR EYEGLASS INITIATIVE, OUR DIRECTOR SUPERVISES AND DIRECTS THE ACTIVITIES OF GRANTEE ORGANIZATIONS AS PART OF OUR WORK TO SIGNIFICANTLY INCREASE THE NUMBER OF READING GLASSES DISTRIBUTED TO LOW-INCOME PEOPLE. IN THESE CASES, GRANTEES CONDUCT ACTIVITIES UNDER THE GENERAL DIRECTION AND SUPERVISION OF FOLLOW YOUR DREAM.DDD HAS MADE PROGRAM-RELATED INVESTMENTS IN SEVERAL FOR-PROFIT SOCIAL ENTERPRISES, SUCH AS KUZA KOOLERS, RASHAK AND FARMWORKS. IN THESE CASES, WE WORK CLOSELY WITH THE ORGANIZATIONS TO BUILD THEIR CAPACITY AND HELP THEM STRENGTHEN THEIR LONG-TERM IMPACT.
RUNNING PROGRAMS TO BENEFIT POOR YOUTH IN CAMBODIA
PROVIDING EDUCATIONAL SCHOLARSHIPS AND MENTORSHIP
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amolo Ngweno Director | Trustee | 1 | $25,000 |
Jeremy Hockenstein President/treas | OfficerTrustee | 5 | $0 |
Vernon Naidoo Secretary | OfficerTrustee | 1 | $0 |
Sari Miller Director | Trustee | 1 | $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 | $45,092,822 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,092,822 |
| Total Program Service Revenue | $0 |
| Investment income | $486,187 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $100,333 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,679,342 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $14,606,054 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $8,595,559 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $25,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $598,844 |
| Other salaries and wages | $501,485 |
| Pension plan accruals and contributions | $13,159 |
| Other employee benefits | $55,293 |
| Payroll taxes | $20,999 |
| Fees for services: Management | $51,000 |
| Fees for services: Legal | $29,071 |
| Fees for services: Accounting | $15,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $440,003 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $44,641 |
| Royalties | $0 |
| Occupancy | $15,500 |
| Travel | $100,689 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $182,978 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $25,506,103 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $29,225 |
| 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 | $3,679,807 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $38,577,724 |
| Investments—other securities | $0 |
| Investments—program-related | $1,370,050 |
| Intangible assets | $0 |
| Other assets | $11,427 |
| Total assets | $43,670,233 |
| Accounts payable and accrued expenses | $34,757 |
| Grants payable | $6,689,000 |
| 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 | $6,723,757 |
| Net assets without donor restrictions | $36,911,476 |
| Net assets with donor restrictions | $35,000 |
| 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 | $43,670,233 |
Grants Awarded
Over the last fiscal year, Follow Your Dream Foundation Inc has awarded $15,134,824 in support to 33 organizations.
| Grant Recipient | Amount |
|---|---|
AFRICAN ENTREPRENEURSHIP COLL PURPOSE: GENERAL SUPPORT | $550,000 |
AFRICAN VISIONARY FUND INC PURPOSE: GENERAL SUPPORT | $50,000 |
ALIGHT PURPOSE: GENERAL SUPPORT | $100,000 |
BRAC USA INC PURPOSE: GENERAL SUPPORT | $35,000 |
APPLESEED INC PURPOSE: GENERAL SUPPORT | $131,963 |
ARBOR BROTHERS INC PURPOSE: GENERAL SUPPORT | $1,200,000 |