Dreampower Foundation Inc

Analysis

Dreampower Foundation Inc is a registered charity in United States, based in Gilroy, CA. It received its IRS tax-exemption ruling in September 2003, 23 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Dreampower Foundation Inc reported income of $704k and spending of $708k, spending 101% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $315k to $704k (+123%), an average of +22% a year. The sharpest change came in the year to December 2022, when income rose by 56%. Over the whole period it spent 106% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Dreampower Foundation Inc sits at the 70th percentile: it is larger than about 70% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 76th percentile within CA. Charities of a similar size with the same main cause include Diverse Ability Incorporated ($704k), St Paul Childrens Foundation Inc ($704k) and Urban League of Kansas Inc ($704k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 76% and program service revenue 23% of the total. Compensation of current officers, directors and key employees was $128k (18% of expenses). Other salaries and wages came to $180k. At year end it held assets of $137k against liabilities of $7,389, net assets of $130k. It reported 16 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.