Woodward Dream Cruise Inc
- Assets
- $156.6k
- Revenue
- $532.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Troy, MI
- Founding
- 09/2009
- Data as of
- 12/2023
- EIN
- 38-3874107
Organization Overview
Woodward Dream Cruise Inc is located in Troy, MI. The organization was established in 2009. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woodward Dream Cruise 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 12/2023, Woodward Dream Cruise Inc generated $532.5k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $510.0k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Woodward Dream Cruise Inc has awarded 66 individual grants totaling $439,084. 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 PROMOTE AND CREATE GREATER VISIBILITY OF THE WOODWARD AVENUE CORRIDOR, HIGHLIGHTING ITS BUSINESSES AND RESIDENTIAL COMMUNITIES IN THE PARTICIPATING COMMUNITIES OF BERKLEY, BIRMINGHAM, BLOOMFIELD HILLS, BLOOMFIELD TOWNSHIP, FERNDALE, HUNTINGTON WOODS, PLEASANT RIDGE, PONTIAC, AND ROYAL OAK, MICHIGAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROMOTES AND CREATES GREATER VISIBILITY OF THE WOODWARD AVENUE CORRIDOR, HIGHLIGHTING ITS BUSINESSES AND RESIDENTIAL COMMUNITIES IN THE PARTICIPATING COMMUNITIES OF BERKLEY, BIRMINGHAM, BLOOMFIELD HILLS, BLOOMFIELD TOWNSHIP, FERNDALE, HUNTINGTON WOODS, PLEASANT RIDGE, PONTIAC, AND ROYAL OAK, MICHIGAN. THE ORGANIZATION'S FOCUS IS TO COORDINATE AN ANNUAL EVENT IN AUGUST WHICH CELEBRATES THE AUTOMOBILE CRUISING ERA OF THE 1950'S AND 1960'S.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Lary President | OfficerTrustee | 5 | $0 |
Theresa Mcarleton Vice-President | OfficerTrustee | 5 | $0 |
John Fedele Treasurer | OfficerTrustee | 5 | $0 |
Greg Black Secretary | OfficerTrustee | 5 | $0 |
Jane Bais-Disessa Director | Trustee | 5 | $0 |
James Breukman Director | Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $23,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $471,595 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $494,595 |
| Total Program Service Revenue | $0 |
| Investment income | $20 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$10,810 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $48,705 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $532,510 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $58,500 |
| 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 | $88,200 |
| Fees for services: Legal | $3,880 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $231,743 |
| Office expenses | $151 |
| Information technology | $3,894 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $10,971 |
| All other expenses | $0 |
| Total functional expenses | $509,992 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,342 |
| Savings and temporary cash investments | $137,257 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $156,599 |
| 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 | $156,599 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $156,599 |
Grants Awarded
Over the last fiscal year, Woodward Dream Cruise Inc has awarded $58,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF BERKLEY PURPOSE: DISTRIBUTION TO COMMUNITY PARTICIPATING IN THE ANNUAL EVENT | $6,500 |
CITY OF BLOOMFIELD HILLS PURPOSE: DISTRIBUTION TO COMMUNITY PARTICIPATING IN THE ANNUAL EVENT | $6,500 |
CITY OF BIRMINGHAM PURPOSE: DISTRIBUTION TO COMMUNITY PARTICIPATING IN THE ANNUAL EVENT | $6,500 |
TOWNSHIP OF BLOOMFIELD PURPOSE: DISTRIBUTION TO COMMUNITY PARTICIPATING IN THE ANNUAL EVENT | $6,500 |
CITY OF FERNDALE PURPOSE: DISTRIBUTION TO COMMUNITY PARTICIPATING IN THE ANNUAL EVENT | $6,500 |
CITY OF HUNTINGTON WOODS PURPOSE: DISTRIBUTION TO COMMUNITY PARTICIPATING IN THE ANNUAL EVENT | $6,500 |