Power of the Dream Inc

Analysis

Power of the Dream Inc is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in July 2009, 17 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Power of the Dream Inc reported income of $479k and spending of $410k, spending 86% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $441k to $479k (+8.7%), an average of +2.1% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 88% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Power of the Dream Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 69th percentile within NC. Charities of a similar size with the same main cause include Delaware Black Chamber of Commerce Inc ($479k), North Carolina Center for the Care of Huntingtons Disease Inc ($479k) and Connectup Institute ($479k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.4% and program service revenue 100% of the total. Other salaries and wages came to $232k. At year end it held assets of $443k against liabilities of $2,942, net assets of $440k. It reported 26 employees.