I Have a Dream Foundation - New Jersey Inc

Nonprofit profile at a glance

EIN
020775259
IRS 990 coverage
2010–2023
Forms available
Form 990 2023
Location
Kearny, NJ, USA
Phone
2015897484
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$899,504
Expenses
$598,545
Assets
$564,935
Liabilities
$0

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

Leadership & pay

9 people listed

Executive titles in this filing

  • EUGENE THOMAS (CO-PRESIDENT)
  • MIGUEL BRITO (CO-PRESIDENT)
  • MIKE PERETZ (VICE PRESIDENT)

People named in this filing

  • EUGENE THOMAS (CO-PRESIDENT)
  • MIGUEL BRITO (CO-PRESIDENT)
  • MIKE PERETZ (VICE PRESIDENT)

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

To motivate and empower children to reach their educational and career goals.

What it reported doing in 2023

Dreamers college program the college path project: a progressive four-year plan that provides our dreamers with a road-map to successfully complete high school and to make well informed decisions, while gaining accesst o college and/or an accredited trade school. 2019 saw the first dreamers class graduate.

Operating model

Revenue model
Grant-funded. 66% of the money available for current operations came from government grants.
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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 50
  • Transparency & Controls: 64
  • Accountability: 90
  • Sustainability: 73
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 41.5%; rating input score 41
  • Program expense ratio: 60.9%; rating input score 61
  • Fundraising efficiency: $22.54 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 91.7%; rating input score 92; 23rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • 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: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 33.5%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 0.94; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 16.2% per year; rating input score 100; 77th percentile among comparable filings
  • Revenue growth: 20.4% per year; rating input score 100; 85th percentile among comparable filings
  • Asset growth: -1.1% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 41.5% of revenue deployed · 60.9% of spending went to programs
  • Governance: 11 of 12 board members independent · 6 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $365K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 12 filing years from 2010 to 2023
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 41/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.