Dream Project INC: FY2021 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 · $410K · in their own filed words · FY2020

01

Scholarships

The dream project awards renewable college scholarships to undocumented students, commonly known as dreamers, in virginia. The dream scholarship is awarded to talented immigrant students who demonstrate academic achievement, leadership, community involvement and perseverance in the face of adversity.

$353Kprogram expense

02

Mentoring

The dream project also provides a mentoring program for high school juniors and seniors in which mentees are matched with mentors who provide them with one-on-one guidance through the college application process and scholarship search. Mentoring program participants also build habits and skills that promote success in college and career.

$37Kprogram expense

03

Scholar, Alumni and Family Support

Dream project scholarship recipients and college graduates are additionally supported by the organization through activities and programming. First, the dream project hosts an annual dream summit for these students and young graduates.

$20Kprogram 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 FY2021 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$742K

Ln 12

Gifts and grantsLn 1h$740K

Investment incomeLn 3$2K

Money outPt IX

$530K

Ln 25

Programscol B$453K

Managementcol C$36K

Fundraisingcol D$40K

Owns and owesPt X

$749K

net assets · Ln 32

Cash and savingsLn 1–2$590K

Total assetsLn 16$756K

LiabilitiesLn 26$8K

PeoplePt VI, VII

17

listed · VII A

PaidVII A0

Voting boardVI 1a16

IndependentVI 1b16

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$740K

Government grantsLn 1e$20K

Investment incomeLn 3$2K

Total revenueLn 12$742K

Assets in detailPt X, end of year

CashLn 1$83K

SavingsLn 2$506K

Cash and savings togetherLn 1–2$590K

InvestmentsLn 11–13$119K

Total assetsLn 16$756K

LiabilitiesLn 26$8K

Net assetsLn 32$749K

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 FY21	End FY21
Cash and savingsLn 1–2	$431K	$590K
InvestmentsLn 11–13	$118K	$119K
Total assetsLn 16	$583K	$756K
LiabilitiesLn 26	$47K	$8K
Net assetsLn 32	$536K	$749K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic individualsLn 2	$308K	$308K
Other salaries and wagesLn 7	$120K	$77K	$21K	$23K
Pension plan contributionsLn 8	$3K	$2K	$312	$624
Other employee benefitsLn 9	$22K	$15K	$4K	$3K
Payroll taxesLn 10	$10K	$6K	$2K	$2K
Accounting feesLn 11c	$5K	$3K	$909	$974
Other fees for servicesLn 11g	$43K	$36K	$2K	$5K
Office expensesLn 13	$7K	$1K	$1K	$4K
Information technologyLn 14	$67		$67
TravelLn 17	$249	$249
Conferences, conventions and meetingsLn 19	$892	$892
InsuranceLn 23	$3K	$2K	$536	$574
Other expenses (24a–d)Ln 24	$7K	$2K	$4K	$2K
Total functional expensesLn 25	$530K	$453K	$36K	$40K

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 Viewing	$742K	$530K	$212K	$749K	990 PDF
FY2020	$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 FY2021 990 (6 parts)

Part I · Summary $742,281 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $640,111$739,869

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $4,334$2,412

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $644,445$742,281

I-13 Grants and similar amounts paidPrior year $260,650$308,370

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

I-15 Salaries and benefitsPrior year $97,628$155,260

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

I-17 Other expensesPrior year $83,606$66,361

I-18 Total expensesPrior year $441,884$529,991

I-19 Revenue less expensesPrior year $202,561$212,290

Part VI · Governance 16 of 16 board members independent, 4 to look at

VI-1a Voting members of the governing body16

VI-1b Independent voting members16

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 $742,281 across 5 lines filed

VIII-1e Government grants$19,970

VIII-1f All other contributions, gifts and grants$719,899

VIII-1h Total contributions, gifts and grants$739,869

VIII-3 Investment incomeExcluded from tax $2,412$2,412

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $2,412$742,281

Part IX · Statement of functional expenses $529,991 across 13 lines filed

IX-2 Grants to domestic individualsPrograms $308,370$308,370

IX-7 Other salaries and wagesPrograms $76,719 · Management $21,060 · Fundraising $22,565$120,344

IX-8 Pension plan contributionsPrograms $2,185 · Management $312 · Fundraising $624$3,121

IX-9 Other employee benefitsPrograms $14,560 · Management $4,368 · Fundraising $2,912$21,840

IX-10 Payroll taxesPrograms $6,346 · Management $1,742 · Fundraising $1,867$9,955

IX-11c Accounting feesPrograms $3,311 · Management $909 · Fundraising $974$5,194

IX-11g Other fees for servicesPrograms $36,062 · Management $2,373 · Fundraising $4,657$43,092

IX-13 Office expensesPrograms $1,196 · Management $1,069 · Fundraising $4,293$6,558

IX-14 Information technologyManagement $67$67

IX-17 TravelPrograms $249$249

IX-19 Conferences, conventions and meetingsPrograms $892$892

IX-23 InsurancePrograms $1,951 · Management $536 · Fundraising $574$3,061

IX-24 Other expenses (24a–d)Programs $1,528 · Management $4,039 · Fundraising $1,681$7,248

IX-25 Total functional expensesPrograms $453,369 · Management $36,475 · Fundraising $40,147$529,991

Part X · Balance sheet $756,253 assets, 11 lines filed

Asset lines not itemized here account for $44,475; see the IRS return.

X-1 Cash, non-interest-bearingStart of year $48,094$83,496

X-2 Savings and temporary cash investmentsStart of year $382,618$506,336

X-4 Accounts receivable$2,585

X-12 Other securitiesStart of year $118,051$119,361

X-16 Total assetsStart of year $583,378$756,253

X-17 Accounts payable and accrued expensesStart of year $10,189$7,500

X-26 Total liabilitiesStart of year $46,915$7,500

X-27 Net assets without donor restrictionsStart of year $377,244$591,464

X-28 Net assets with donor restrictionsStart of year $159,219$157,289

X-32 Total net assets or fund balancesStart of year $536,463$748,753

X-33 Total liabilities and net assetsStart of year $583,378$756,253

Part XI · Reconciliation of net assets $748,753 net assets at year end

XI-1 Total revenue$742,281

XI-2 Total expenses$529,991

XI-3 Revenue less expenses$212,290

XI-4 Net assets at start of year$536,463

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$748,753

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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Dream Project INC FY2021 filing

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