Dreamspring
- Assets
- $95.8m
- Revenue
- $25.9m
- Investments
- $6.0k
- Employees
- 76
- Location
- Albuquerque, NM
- Founding
- 08/1995
- Data as of
- 12/2022
- EIN
- 85-0417347
Organization Overview
Dreamspring is located in Albuquerque, NM. The organization was established in 1995. According to its NTEE Classification (S43) the organization is classified as: Small Business Development, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Dreamspring employed 76 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dreamspring 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 12/2022, Dreamspring generated $25.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 23.2% each year . All expenses for the organization totaled $20.2m during the year ending 12/2022. While expenses have increased by 23.6% per year over the past 6 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 2020, Dreamspring has awarded 356 individual grants totaling $4,762,540. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DREAMSPRING IS A NONPROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND U.S. SMALL BUSINESS ADMINISTRATION (SBA) LENDER DEDICATED TO ACCELERATING THE ECONOMIC INCLUSION AND STRENGTH OF UNDERSERVED COMMUNITIES. FOUNDED IN 1994, THE ORGANIZATION PROVIDES RAPID ACCESS TO CAPITAL AND CUSTOMIZED WRAP-AROUND SUPPORT TO THE MOST VULNERABLE SMALL BUSINESS OWNERS IN 27 STATES, FOCUSING ON COMMUNITIES INCLUDING PEOPLE OF COLOR, WOMEN, LOW- TO MODERATE-INCOME EARNERS, PEOPLE WITH DISABILITIES, AND START-UPS. TO DATE, DREAMSPRING HAS ISSUED MORE THAN 48,796 LOANS TOTALING OVER $538 MILLION TO SMALL BUSINESSES THAT SUPPORT AN ESTIMATED 65,138 JOBS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DREAMSPRING PROVIDES TOOLS TO HELP SMALL BUSINESSES OPERATE, GROW OR START THEIR BUSINESS. WE INCREASE ACCESS TO BUSINESS CREDIT, MAKE LOANS AND PROVIDE TRAINING TO HELP ENTREPRENEURS THRIVE. IN 2022 DREAMSPRING MADE 4,093 LOANS, FOR $71.6 MILLION, THAT CREATED OR SUSTAINED 10,869 JOBS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yashoda Naidoo Secretary/imm Past Chair | OfficerTrustee | 2 | $0 |
Bill Ridenour Treasurer | OfficerTrustee | 2 | $0 |
Edmond Johnson Chair | OfficerTrustee | 2 | $0 |
Betty Arkell Director | Trustee | 2 | $0 |
Virginia Bayless Director | Trustee | 2 | $0 |
Jerrie Merritt Director | Trustee | 2 | $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 | $7,822,206 |
| Noncash contributions included in lines 1a–1f | $27,577 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,822,206 |
| Total Program Service Revenue | $17,871,900 |
| Investment income | $41,890 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $18,991 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,867,927 |
| 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. | $1,181,352 |
| Compensation of current officers, directors, key employees. | $91,146 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,981,858 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $371,078 |
| Payroll taxes | $363,538 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $492,783 |
| Fees for services: Accounting | $67,289 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $718,498 |
| Advertising and promotion | $1,199,885 |
| Office expenses | $476,602 |
| Information technology | $612,519 |
| Royalties | $0 |
| Occupancy | $88,203 |
| Travel | $119,390 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $153,848 |
| Interest | $1,271,623 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $199,971 |
| Insurance | $55,535 |
| All other expenses | $0 |
| Total functional expenses | $20,150,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,723,401 |
| Savings and temporary cash investments | $103,128 |
| Pledges and grants receivable | $5,279,069 |
| Accounts receivable, net | $647,981 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $59,860,598 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $215,123 |
| Net Land, buildings, and equipment | $2,640,502 |
| Investments—publicly traded securities | $1,261,349 |
| Investments—other securities | $6,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,478 |
| Total assets | $95,789,629 |
| Accounts payable and accrued expenses | $12,062,664 |
| 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 | $3,488,511 |
| Unsecured mortgages and notes payable | $42,685,709 |
| Other liabilities | $0 |
| Total liabilities | $58,236,884 |
| Net assets without donor restrictions | $27,418,128 |
| Net assets with donor restrictions | $10,134,617 |
| 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 | $95,789,629 |
Grants Awarded
Over the last fiscal year, Dreamspring has awarded $4,762,540 in support to 356 organizations.
| Grant Recipient | Amount |
|---|---|
WATER WHEEL GIFT CORNER PURPOSE: GRANT FOR BUSINESSES AFFECTED BY COVID | $6,928 |
SITE RECLAMATION SERVICES PURPOSE: GRANT FOR BUSINESSES AFFECTED BY COVID | $15,000 |
TURTLE ISLE MEDIA LLC PURPOSE: GRANT FOR BUSINESSES AFFECTED BY COVID | $9,445 |
3-D EXECUTIVE SEARCH CONSULTANTS LLC PURPOSE: GRANT FOR BUSINESSES AFFECTED BY COVID | $15,000 |
SYNKUP LLC PURPOSE: GRANT FOR BUSINESSES AFFECTED BY COVID | $15,000 |
THRIVING CULTURE LLC PURPOSE: GRANT FOR BUSINESSES AFFECTED BY COVID | $11,335 |