Dream Charter School

Nonprofit profile at a glance

EIN
261841386
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2127221608
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Charter Schools

Official website

Reported finances

Revenue
$67,472,384
Expenses
$75,097,137
Assets
$319,180,120
Liabilities
$321,009,566

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

18 people listed

Executive titles in this filing

  • EVE COLAVITO (CONTRACTED CO-CEO)
  • RICHARD BERLIN (CONTRACTED CO-CEO)

Highest reported compensation

  • LEXIS WHITE (EAST HARLEM ELEMENTARY SCHOOL): $201,923 total reported compensation
  • CORA NEVILLE (HIGHBRIDGE MIDDLE SCHOOL): $186,441 total reported compensation
  • ALISON SCHLOSS (EAST HARLEM MIDDLE SCHOOL): $181,703 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Dream's mission is to ensure that all young people recognize their potential and realize their dreams. We level the playing field by investing in the whole child from early childhood to early adulthood.

What it reported doing in 2024

Program a: elementary school: founded in 2008, dream's unique grow the whole child education model is powered by four distinct, yet interconnected, elements that drive transformative change for youth. Rigorous academics; social-emotional learning; athletics, health, and wellness; and family and community engagement are all equal, crucial parts of the everyday at dream. Elementary scholars in grades k-5 receive extensive support with two teachers in the classroom so that scholars at all levels are able to learn and thrive in a positive environment. Our elementary school curriculum ranges from literacy and math to the arts and physical education. Scholars also have access to dream's award-winning after-school and summer program called real kids. Program b: middle school: dream middle schools serve scholars in grades 6-8. Using a whole child approach and constructivist curriculum, our middle schools prepare students for high performing high schools. Scholars study the fundamentals of math, science, social studies, english language arts, and physical education. Scholars also participate in a wide range of academic and extracurricular activities such as sports, art, music, debate, coding, and more. Middle school scholars also participate in dreambuilders, an optional after-school enrichment program which involves academic support, team building activities, service-learning projects, and health and wellness activities. Dream operates on an extended-day and extended-year model to ensure students have enough opportunities to grow after school and during the summers.program c: high school: dream charter high school prepares students for college and beyond by developing critical literacy skills needed for their success as professionals and as agents of social change. We serve over 400 scholars in grades 9-12. At dchs, students have access to ap courses, one-on-one college counseling, free afterschool activities and sports such as debate club, basketball, and student government, and summer jobs. Throughout their time at dream, students assemble a portfolio of college-level performance assessments. This portfolio is representative of students' ability to learn, apply, and reflect across all disciplines. In their defenses of learning, students present and defend their portfolio as a capstone activity and rite of passage. As a result, dchs graduates are both highly skilled and critically conscious and every day, they're out in the world making a difference.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 71
  • Accountability: 100
  • Sustainability: 37
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.1%; rating input score 89
  • Program expense ratio: 80%; rating input score 80
  • Fundraising efficiency: $14.04 raised per $1 spent on fundraising; rating input score 50; 50th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 68th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -11.3%; rating input score 7; 7th percentile among comparable filings
  • Total-asset coverage ratio: 4.25; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 6; 6th percentile among comparable filings
  • Officer compensation ratio: 1.2%; rating input score 70; 70th percentile among comparable filings

Growth

  • Program expense growth: 20.4% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 18.8% per year; rating input score 100; 93rd percentile among comparable filings
  • Asset growth: 33.2% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 89.1% of revenue deployed · 80% of spending went to programs
  • Governance: 10 of 10 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $60.1M in reported program spending
  • Leadership: top reported pay $202K · 18 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.3M reported
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 50/100.
  • High — Sustainability: Operating margin scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 6/100.