Open Hearts Big Dreams Fund
- Assets
- $366.7k
- Revenue
- -$51.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Sammamish, WA
- Founding
- 02/2017
- Data as of
- 12/2022
- EIN
- 81-3017041
Organization Overview
Open Hearts Big Dreams Fund is located in Sammamish, WA. The organization was established in 2017. 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. Open Hearts Big Dreams Fund 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
OHBD FOCUSES ON K-14 GAME-CHANGING LITERACY, INNOVATION, INCLUSION & LEADERSHIP PROJECTS IN ETHIOPIA. READYSETGO BOOKS HELPS INCREASE LITERACY & INNOVATION PROGRAM INCREASES LOCAL PROBLEM-SOLVING CAPACITY. WE CREATE LOCAL CAPACITY AND USE GRANTS TO AMPLIFY INNOVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ONGOING WORK ON INNOVATION PILOT EFFORTS TO INCREASE PROBLEM SOLVING CAPACITY INCLUDING CS & LEADERSHIP TRAINING AND SUPPORTING OUR MODEL PROJECT LIBRARIES AND PROJECT.
"READYSETGO BOOKS IS AN INNOVATIVE APPROACH TO INCREASING LITERACY BY CLOSING A KEY GAP, THE LACK OF EARLY READERS BOOKS, BY CREATING AND PUBLISHING 200 UNIQUE, COLORFUL, AND CULTURALLY APPROPRIATE BOOKS. THE SALES OF READYSETGO BOOKS IS LISTED ON THE STATEMENT OF REVENUE. THIS OUTLINES THE COSTS ASSOCIATED WITH PRODUCING THE BOOKS, NOT INCLUDED ABOVE."
CREATING LOCAL CAPACITY BY PRINTING OUR BOOKS IN COUNTRY, AMPLIFY INNOVATION AND INCLUSION BY MODEL PROGRAMS GRANTS AND STRATEGIC SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eyoel Asfaw Director | Trustee | 2 | $0 |
Tizita Assefa Director | Trustee | 1 | $0 |
Amy Bates Director | Trustee | 1 | $0 |
Rajitha Boer Director | Trustee | 1 | $0 |
Pazion Cherinet Director | Trustee | 1 | $0 |
John Clements Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $12,520 |
| All other contributions, gifts, grants, and similar amounts not included above | $127,207 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $139,727 |
| Total Program Service Revenue | $0 |
| Investment income | $39 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$191,417 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$51,651 |
| 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 | $1,900 |
| 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 | $0 |
| Fees for services: Accounting | $3,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,924 |
| Advertising and promotion | $7,613 |
| Office expenses | $4,883 |
| Information technology | $7,724 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $11,847 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $664 |
| All other expenses | $0 |
| Total functional expenses | $73,420 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $366,655 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $366,655 |
| 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 | $242,500 |
| Other liabilities | $4,984 |
| Total liabilities | $247,484 |
| 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 | $119,171 |
| Total liabilities and net assets/fund balances | $366,655 |