Cargo of Dreams Inc

Nonprofit profile at a glance

EIN
262149674
IRS 990 coverage
2011–2023
Forms available
Form 990 2023, Form 990-EZ 2014, Form 990-N 2017
Location
Simpsonville, SC, USA
Phone
8642740700
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Human Service Organizations
Affiliation
Christianity

Reported finances

Revenue
$58,605
Expenses
$216,947
Assets
$252,475
Liabilities
$11,700

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

2 people listed

People named in this filing

  • Marius van der Colff (Director)
  • Angel Hatfield (Director)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Cargo of Dreams' mission is to improve quality of life for women and children in need by engaging businesses, organizations, churches and communities in a collaborative project by using their resources and services to assemble and transform the containers stateside and ship the fully functional facilities to the receiving destinations. Assisting and securing work opportunities for people in economic distress. Build and manage industrial soup kitchens.

What it reported doing in 2023

2nd Program - Securing farm worker jobs for those in need Self-sustainability of programs, and enabling people to be financially self-sustainable themselves, is a cornerstone principle of Cargo of Dreams (CoD). CoD, through their "Workforce Recruitment" (WFR) initiative, has secured 80-100 farm worker positions in various states across the USA. Farm labor is an officially recognized shortage by the Department of Labor. WFR assisted USA farmers to obtain relevant government approvals to employ foreign seasonal farm workers and, at the same time, coordinated the recruitment of finding willing, able, and suitable candidates for the farmers.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Revenue has declined or grown slowly and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 81
  • Accountability: 88
  • Sustainability: 23
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 98.2%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 13th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -270.2%; rating input score 12; 12th percentile among comparable filings
  • Total-asset coverage ratio: 1.16; rating input score 25; 25th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -9.9% per year; rating input score 0; 34th percentile among comparable filings
  • Asset growth: 18.4% per year; rating input score 100; 90th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 98.2% of spending went to programs
  • Governance: 2 of 2 board members independent · 5 of 7 filing controls reported
  • Programs: 4 filed program accomplishments · $213K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 40 of 41 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 2 filing years from 2011 to 2023
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 12/100.
  • High — Sustainability: Total-asset coverage ratio scored 25/100.
  • Review — Transparency & Controls: Foreign grants require schedule f did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.