Dreams Of Wilmington Inc
- Assets
- $2.1m
- Revenue
- $758.2k
- Investments
- $0.0
- Employees
- 11
- Location
- Wilmington, NC
- Founding
- 04/1997
- Data as of
- 06/2023
- EIN
- 56-2001053
Organization Overview
Dreams Of Wilmington Inc is located in Wilmington, NC. The organization was established in 1997. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2023, Dreams Of Wilmington Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dreams Of Wilmington 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, Dreams Of Wilmington Inc generated $758.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $747.9k during the year ending 06/2023. While expenses have increased by 5.3% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF DREAMS IS TO CREATE A CULTURE OF CONFIDENCE FOR YOUTH AND TEENS, THROUGH EQUITABLE ACCESS TO ARTS EDUCATION, SUPPORTED BY VALUES OF RESPECT, FAMILY AND COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DREAMS PROVIDES HIGH-QUALITY, FREE-OF-CHARGE CLASSES IN THE LITERARY, VISUAL, AND PERFORMING ARTS TO YOUTH AGES 8-18 AT OUR INNER-CITY CENTER AS WELL AS AT OUTREACH SITES THROUGHOUT OUR COMMUNITY. SPECIFIC INITIATIVES INCLUDE YOUTH ENTREPRENEURSHIP, WHICH PROVIDES STUDENTS WITH A MUCH-NEEDED INCOME STREAM THROUGH ARTWORK SALES AND PAID PERFORMANCES; FAMILY ENGAGEMENT, WHICH OFFERS OPPORTUNITIES FOR PARENTS AND SIBLINGS TO GET INVOLVED IN PROGRAMMING; TEEN COUNCIL, IN WHICH OLDER STUDENTS ARE GIVEN A LEADERSHIP ROLE WITHIN THE ORGANIZATION; DANCE THEATRE OF DREAMS, PROVIDING PERFORMANCE OPPORTUNITIES FOR ADVANCED DANCE STUDENTS; APPRENTICESHIP, IN WHICH DREAMS EMPLOYS A SELECT GROUP OF OLDER STUDENTS, TEACHING THEM REAL- WORLD JOB SKILLS; AND INITIATIVES FOCUSED ON DIGITAL ARTS, HIGHER EDUCATION, AND VISITING ARTISTS. THE INTERPLAY OF THESE INITIATIVES SERVES TO ADDRESS THE "WHOLE CHILD- AND GUIDE THE DEVELOPMENT OF PRODUCTIVE, ENGAGED YOUTH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fidias Reyes Exec. Dir. | Officer | 40 | $18,750 |
Annette Freeman Exec. Dir. | Officer | 40 | $25,818 |
Marlon Ramos Chairman | OfficerTrustee | 1 | $0 |
Mike Williams Co-Chair | OfficerTrustee | 1 | $0 |
Melissa Baird Treasurer | OfficerTrustee | 1 | $0 |
Audra Moore Secretary | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $12,751 |
| Membership dues | $0 |
| Fundraising events | $236,843 |
| Related organizations | $0 |
| Government grants | $232,270 |
| All other contributions, gifts, grants, and similar amounts not included above | $223,029 |
| Noncash contributions included in lines 1a–1f | $102,709 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $704,893 |
| Total Program Service Revenue | $21,270 |
| Investment income | $26,108 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,436 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $758,201 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $16,699 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $92,707 |
| Compensation of current officers, directors, key employees. | $46,353 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $139,627 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,879 |
| Payroll taxes | $19,549 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,944 |
| Office expenses | $27,100 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $37,398 |
| Travel | $2,064 |
| 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 | $46,744 |
| Insurance | $7,801 |
| All other expenses | $11,865 |
| Total functional expenses | $747,853 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $268,666 |
| Savings and temporary cash investments | $298,489 |
| 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 | $1,878 |
| Net Land, buildings, and equipment | $1,163,150 |
| Investments—publicly traded securities | $375,944 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,188 |
| Total assets | $2,117,315 |
| Accounts payable and accrued expenses | $40,163 |
| 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 | $40,163 |
| Net assets without donor restrictions | $1,952,804 |
| Net assets with donor restrictions | $124,348 |
| 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 | $2,117,315 |