Dreams of Wilmington Inc

Analysis

Dreams of Wilmington Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in April 1997, 29 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2024, Dreams of Wilmington Inc reported income of $699k and spending of $839k, spending 120% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $783k to $699k (-11%), an average of -2.8% a year. The sharpest change came in the year to June 2023, when income rose by 44%. Over the whole period it spent 94% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Dreams of Wilmington Inc sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 75th percentile, and in the 75th percentile within NC. Charities of a similar size with the same main cause include Fund to Conserve US Diplomatic Treasures Abroad ($698k), Natya Dance Theatre ($699k) and Young Chicago Authors ($698k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% and program service revenue 5.6% of the total. Compensation of current officers, directors and key employees was $58k (6.9% of expenses). Other salaries and wages came to $174k. At year end it held assets of $2.0m against liabilities of $55k, net assets of $2.0m. It reported 6 employees.