Devoted Dreamers Foundation
- Assets
- $31.8k
- Revenue
- $620.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Tempe, AZ
- Founding
- Data as of
- 12/2022
- EIN
- 85-1358749
Organization Overview
Devoted Dreamers Foundation is located in Tempe, AZ. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, 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. Devoted Dreamers Foundation 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, Devoted Dreamers Foundation generated $620.5k in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 8.7% each year. All expenses for the organization totaled $776.1k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE GOAL OF THE FOUNDATION IS TO EQUIP THE NEXT GENERATION OF LEADERS (ATHLETES, ENTERTAINERS, POLITICIANS, DOCTORS, LAWYERS ETC.) WITH THE TOOLS TO BE SUCCESSFUL SPIRITUALLY, MENTALLY, AND PHYSICALLY. IN A NATION WHERE INNER-CITY CHILDREN ARE OFTEN TIMES MORE LIKELY TO END UP IN JAIL THAN THEY ARE PURSUING HIGHER EDUCATION OPPORTUNITIES, THE DEVOTED DREAMERS PROJECT HAS CREATED A NUMBER OF INITIATIVES AIMED AT CONNECTING YOUNG MEN AND WOMEN OF THE FUTURE TO THE RESOURCES NEEDED TO MAKE THEIR BIGGEST DREAMS A REALITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVOTED DREAMERS EQUIPS THE NEXT GENERATION WITH TOOLS TO BE SUCCESSFUL IN THE CLASSROOM. DEVOTED DREAMERS ACADEMY IS A 7-WEEK SUMMER PROGRAM FOR CHILDREN ENTERING 6TH-8TH GRADES, PLACING AN EMPHASIS ON FINANCIAL LITERACY, READING COMPREHENSION, PHYSICAL FITNESS AND CHARACTER DEVELOPMENT, WHILE PREPARING YOUTH FOR THE UPCOMING SCHOOL YEAR. DEVOTED DREAMERS ALSO CONDUCTS FUNDRAISING EVENTS TO GENERATE REVENUE FOR THE FOREGOING CAUSES. FUTURE GOALS INCLUDE ESTABLISHING A CENTRAL LOCATION CAMPS FOR THE ACADEMY (2022), DEVELOP A YEAR-ROUND TUTORING PROGRAM (2022), DEVELOP A SCHOOL OF ARTS FALL PROGRAM (2025), AND ULTIMATELY TO ESTABLISH A DEVOTED DREAMERS SCHOOL (2028).
DEVOTED DREAMERS ALSO WORKS TO PROVIDE THE NEXT GENERATION WITH TOOLS TO HELP THEM LIVE HEALTHY SPIRITUAL LIVES. ACTIVITIES INCLUDE ENCOUNTER, A ONE-NIGHT WORSHIP EXPERIENCE DESIGNED TO HELP USHER YOUNG MEN AND WOMEN INTO THE PRESENCE OF THE LORD. FUTURE GOALS INCLUDE DEVELOPING A FULL DAY ENCOUNTER CONFERENCE, GOSPEL MUSIC AND CONTEMPORARY WORSHIP MUSIC EVENT (2022), AND DISCIPLESHIP AND EVANGELISM TRAINING SUMMER CAMP (2028).
DEVOTED DREAMERS PROVIDES THE NEXT GENERATION WITH TOOLS TO HELP THEM SUCCEED ON AND OFF THE FIELD. THE GOAL OF DEVOTED DREAMERS SPORTS IS TO FORM AN ELITE HIGH SCHOOL SELECT TRAVEL 7 ON 7 FOOTBALL TEAM COMPRISED OF SOME OF THE BEST ATHLETES ACROSS THE STATE OF MISSISSIPPI. FUTURE SPORTS GOALS INCLUDE HOSTING A STATE-WIDE FLAG FOOTBALL TOURNAMENT (2023) AND HOST THE HIGH SCHOOL STATE COMBINE (2028).
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Demario Davis Director / President | OfficerTrustee | 2 | $0 |
Tamela Davis Director / Secretary | OfficerTrustee | 15 | $0 |
David Loria Director / Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $10,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $610,511 |
| Noncash contributions included in lines 1a–1f | $350 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $620,511 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $620,511 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $270,000 |
| 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 | $0 |
| Fees for services: Legal | $3,850 |
| 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 | $225,672 |
| Advertising and promotion | $1,313 |
| Office expenses | $430 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $166,891 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $19 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,511 |
| All other expenses | $18,596 |
| Total functional expenses | $776,064 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,838 |
| 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 | $31,838 |
| 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 | $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 | $31,838 |
| Total liabilities and net assets/fund balances | $31,838 |