Dream Project INC: FY2020 Nonprofit Profile & Form 990 (EIN 45-1869894)

Karen Vallejos Corrales’s $85K as Executive Director is at the 22nd percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

Name	FY2025	FY2024	FY2023	FY2022
Karen Vallejos Corrales	$85,104	$76,670	—	—
Karen Vallejos	—	—	$71,400	$29,649

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

Family or business ties among officersPt VI · Ln 2No
Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Empowers immigrant students to access and succeed in college through scholarships, mentoring, and advocacy.

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3 programs · $321K · in their own filed words · FY2019

01

The dream project scholarship is awarded to talented immigrant students who demonstrate academic achievement, leaderhsip, community involvement, and perserverance in the face of adversity. Community is nourished through educational, cultural, and empowering events held virtually and in-person.

$273Kprogram expense

02

Communications-use traditional and social media streams, participation in community COALITIONS/GROUPS, and educational events to educate our internal and external constituencies about the activities of the dream PROJECT.ADVOCACY-SPREAD awareness about the struggles our dream scholars and families face and to support partner organizations…

$24Kprogram expense

03

The dream project mentoring program helps prepare immigrant students from primarily northern virginia high schools (arlington, alexandria, and fairfax) for college through one-on-one and group mentoring.

$24Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid

Grants received · FY2024

The Morrison & Foerster FoundationFY2024$101K

Greater Washington Community FoundationFY2024$85K

National Philanthropic TrustFY2024$32K

Fidelity Investments Charitable Gift FundFY2024$31K

Donor Advised Charitable Giving INCFY2024$26K

Act for AlexandriaFY2024$24K

Vanguard Charitable Endowment ProgramFY2024$12K

Total grants receivedfrom 7 funders$309K

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Grants paid · 10 grants · $1.8M · 2019–2024

Unitemized GrantFY2024$440,000

Unitemized GrantFY2024$19,297

Unitemized GrantFY2023$382,500

Unitemized GrantFY2023$19,217

Unitemized GrantFY2022$354,400

Unitemized GrantFY2022$2,300

Unitemized GrantFY2021$296,333

Unitemized GrantFY2021$35,041

Unitemized GrantFY2019$200,750

Unitemized GrantFY2019$59,900

By the numbers

The FY2020 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$644K

Ln 12

Gifts and grantsLn 1h$640K

Investment incomeLn 3$4K

Money outPt IX

$442K

Ln 25

Programscol B$329K

Managementcol C$61K

Fundraisingcol D$52K

Owns and owesPt X

$536K

net assets · Ln 32

Cash and savingsLn 1–2$431K

Total assetsLn 16$583K

LiabilitiesLn 26$47K

PeoplePt VI, VII

20

listed · VII A

PaidVII A0

Voting boardVI 1a18

IndependentVI 1b18

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$640K

Investment incomeLn 3$4K

Total revenueLn 12$644K

Assets in detailPt X, end of year

CashLn 1$48K

SavingsLn 2$383K

Cash and savings togetherLn 1–2$431K

InvestmentsLn 11–13$118K

Total assetsLn 16$583K

LiabilitiesLn 26$47K

Net assetsLn 32$536K

OperationsPt I, VI

EmployeesI 56

VolunteersI 60

Fiscal year endsHeaderJune

Conflict-of-interest policyVI 12aNo

Whistleblower policyVI 13No

Records policyVI 14No

3Year over year

Balance sheet, start vs end of yearPt X · col A, B

Line	Start FY20	End FY20
Cash and savingsLn 1–2	$186K	$431K
InvestmentsLn 11–13	$116K	$118K
Total assetsLn 16	$335K	$583K
LiabilitiesLn 26	$1K	$47K
Net assetsLn 32	$334K	$536K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$261K	$261K
Other salaries and wagesLn 7	$75K	$23K	$30K	$22K
Pension plan contributionsLn 8	$4K	$1K	$1K	$1K
Other employee benefitsLn 9	$13K	$4K	$5K	$4K
Payroll taxesLn 10	$6K	$2K	$2K	$2K
Accounting feesLn 11c	$5K		$5K
Other fees for servicesLn 11g	$53K	$29K	$8K	$16K
Office expensesLn 13	$10K	$3K	$4K	$3K
Information technologyLn 14	$2K	$657	$876	$644
TravelLn 17	$896	$419	$477
Conferences, conventions and meetingsLn 19	$7K	$5K	$23	$2K
InsuranceLn 23	$3K	$915	$1K	$896
Other expenses (24a–d)Ln 24	$3K	$115	$2K	$30
Total functional expensesLn 25	$442K	$329K	$61K	$52K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$1.1M	$1.1M	$21K	$1.1M	990 PDF
FY2024	$1.0M	$870K	$138K	$1.0M	990 PDF
FY2023	$826K	$781K	$45K	$907K	990 PDF
FY2022	$742K	$629K	$113K	$862K	990 PDF
FY2021	$742K	$530K	$212K	$749K	990 PDF
FY2020 Viewing	$644K	$442K	$203K	$536K	990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations

See the full FY2020 990 (6 parts)

Part I · Summary $644,445 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $413,469$640,111

I-9 Program service revenuePrior year $4,975$0

I-10 Investment incomePrior year $3,250$4,334

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $421,694$644,445

I-13 Grants and similar amounts paidPrior year $144,000$260,650

I-14 Benefits paid to membersPrior year $0$0

I-15 Salaries and benefitsPrior year $104,482$97,628

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $90,973$83,606

I-18 Total expensesPrior year $339,455$441,884

I-19 Revenue less expensesPrior year $82,239$202,561

Part VI · Governance 18 of 18 board members independent, 4 to look at

VI-1a Voting members of the governing body18

VI-1b Independent voting members18

VI-12a Written conflict of interest policyNo

VI-13 Written whistleblower policyNo

VI-14 Document retention and destruction policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

Part VIII · Statement of revenue $644,445 across 4 lines filed

VIII-1f All other contributions, gifts and grants$640,111

VIII-1h Total contributions, gifts and grants$640,111

VIII-3 Investment incomeExcluded from tax $4,334$4,334

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,334$644,445

Part IX · Statement of functional expenses $441,884 across 13 lines filed

IX-2 Grants to domestic individualsPrograms $260,650$260,650

IX-7 Other salaries and wagesPrograms $22,669 · Management $30,172 · Fundraising $22,190$75,031

IX-8 Pension plan contributionsPrograms $1,088 · Management $1,448 · Fundraising $1,065$3,601

IX-9 Other employee benefitsPrograms $3,882 · Management $5,167 · Fundraising $3,800$12,849

IX-10 Payroll taxesPrograms $1,857 · Management $2,472 · Fundraising $1,818$6,147

IX-11c Accounting feesManagement $5,153$5,153

IX-11g Other fees for servicesPrograms $28,683 · Management $7,657 · Fundraising $16,500$52,840

IX-13 Office expensesPrograms $3,351 · Management $3,634 · Fundraising $2,820$9,805

IX-14 Information technologyPrograms $657 · Management $876 · Fundraising $644$2,177

IX-17 TravelPrograms $419 · Management $477$896

IX-19 Conferences, conventions and meetingsPrograms $4,682 · Management $23 · Fundraising $2,390$7,095

IX-23 InsurancePrograms $915 · Management $1,218 · Fundraising $896$3,029

IX-24 Other expenses (24a–d)Programs $115 · Management $2,466 · Fundraising $30$2,611

IX-25 Total functional expensesPrograms $328,968 · Management $60,763 · Fundraising $52,153$441,884

Part X · Balance sheet $583,378 assets, 12 lines filed

Asset lines not itemized here account for $34,615; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $69,787$48,094

X-2 Savings and temporary cash investmentsStart of year $116,242$382,618

X-12 Other securitiesStart of year $115,590$118,051

X-16 Total assetsStart of year $334,764$583,378

X-17 Accounts payable and accrued expensesStart of year $1,250$10,189

X-18 Grants payable$19,970

X-19 Deferred revenue$16,756

X-26 Total liabilitiesStart of year $1,250$46,915

X-27 Net assets without donor restrictionsStart of year $260,301$377,244

X-28 Net assets with donor restrictionsStart of year $73,213$159,219

X-32 Total net assets or fund balancesStart of year $333,514$536,463

X-33 Total liabilities and net assetsStart of year $334,764$583,378

Part XI · Reconciliation of net assets $536,463 net assets at year end

XI-1 Total revenue$644,445

XI-2 Total expenses$441,884

XI-3 Revenue less expenses$202,561

XI-4 Net assets at start of year$333,514

XI-5 Net unrealized gains (losses) on investments$388

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$536,463

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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Dream Project INC FY2020 filing

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