Precious Dreams Foundation

Tax-deductible

Inwood, NY501(c)(3)Foundations & GrantmakersEIN 45-5456961

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To provide comfort items and programs to support the Dreams of children and young adults in foster care and homeless shelters.

501(c)(3) charity; gifts are tax-deductible.
48¢ of each $1 spent went to programs.
Run by 140 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $2K a year · under 1% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
48%
of spending
Concern: 48% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$97K
to officers and key staff · 21% of spending
Top officer’s pay higher than 83% of similar orgs
Worth a look: pay to officers and key staff is 21% of spending; over 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
5
named funders · $68K
Looks good: 5 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$19K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 13 voting members
Looks good: 12 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$327K
-31% vs prior year
Spent
$466K
To programs
48%
Net assets
$146K
By yearFY2020–FY2024
Revenue
$327K
FY2024▼ -31%
Revenue by fiscal year
FY2020$377K
FY2021$346K
FY2022$410K
FY2023$475K
FY2024$327K
Expenses
$466K
FY2024▲ +5%
Expenses by fiscal year
FY2020$241K
FY2021$350K
FY2022$420K
FY2023$445K
FY2024$466K
Net assets
$146K
FY2024▼ -49%
Net assets by fiscal year
FY2020$271K
FY2021$266K
FY2022$255K
FY2023$285K
FY2024$146K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

48 cents of each dollar spent went to programs.

Program services 48% · $223K Management & general 19% · $87K Fundraising 34% · $156K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

13 people listed on the 990; $97K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$97,077Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A

Nicole Russell’s $97K as Executive Director is at the 83rd percentile of top reported officer pay among 1264 $100K–1M philanthropy & grantmaking 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 · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Nicole Russell$97,077$89,077$85,154$74,744$64,935

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.

See Precious Dreams Foundation executive salaries →

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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 15aYes

Programs and updates

Gives comfort items and programs to support dreams of children in foster care and shelters.

Provided by the organization

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1 program · $223K · in their own filed words · FY2024
01

We provided programming to empower youth to self-comfort and discover pathways to their dreams. Programs include yoga, journaling, meditation exercises and pillowcase decorating. Our newest program, the humble dreams initiative, is a cohort for teens and young adults that financial support and mentorship to help them recognize their…

$223Kprogram 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
See all 5 funders →
Grants paid · 3 grants · $75K · 2022–2024
Unitemized GrantFY2024$11,255
Unitemized GrantFY2023$26,750
Unitemized GrantFY2022$36,900

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$327K
Ln 12
Gifts and grantsLn 1h$327K
Money outPt IX
$466K
Ln 25
Programscol B$223K
Managementcol C$87K
Fundraisingcol D$156K
Owns and owesPt X
$146K
net assets · Ln 32
Cash and savingsLn 1–2$105K
Total assetsLn 16$165K
LiabilitiesLn 26$19K
PeoplePt VI, VII
13
listed · VII A
PaidVII A1
Voting boardVI 1a13
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$327K
Fundraising eventsLn 1c$217K
Total revenueLn 12$327K
Assets in detailPt X, end of year
CashLn 1$105K
Cash and savings togetherLn 1–2$105K
Land, buildings, equipmentLn 10c$23K
Total assetsLn 16$165K
LiabilitiesLn 26$19K
Net assetsLn 32$146K
OperationsPt I, VI
EmployeesI 52
VolunteersI 6140
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$233K$105K
Land, buildings, equipmentLn 10c$23K
Total assetsLn 16$305K$165K
LiabilitiesLn 26$21K$19K
Net assetsLn 32$285K$146K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$11K$11K
Pay of current officers, directors and key staffLn 5$97K$39K$19K$39K
Other salaries and wagesLn 7$88K$59K$19K$10K
Other employee benefitsLn 9$19K$8K$6K$4K
Payroll taxesLn 10$15K$8K$3K$4K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$26K$18K$7K$1K
Advertising and promotionLn 12$763$763
Office expensesLn 13$3K$3K
TravelLn 17$11K$11K
Depreciation, depletion and amortizationLn 22$5K$5K
Other expenses (24a–d)Ln 24$164K$66K$98K
All other expensesLn 24e$20K$9K$10K
Total functional expensesLn 25$466K$223K$87K$156K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $327K$466K−$139K$146K 990 PDF
FY2023 $475K$445K$29K$285K 990 PDF
FY2022 $410K$420K−$11K$255K 990 PDF
FY2021 $346K$350K−$5K$266K 990 PDF
FY2020 $377K$241K$136K$271K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (5 parts)
Part I · Summary $327,195 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $474,568$327,195
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $474,568$327,195
I-13 Grants and similar amounts paidPrior year $26,750$11,255
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $170,411$218,739
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $248,173$235,970
I-18 Total expensesPrior year $445,334$465,964
I-19 Revenue less expensesPrior year $29,234−$138,769
Part VIII · Statement of revenue $327,195 across 5 lines filed
VIII-1c Fundraising events$217,089
VIII-1f All other contributions, gifts and grants$110,106
VIII-1h Total contributions, gifts and grants$327,195
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$327,195
Part IX · Statement of functional expenses $465,964 across 13 lines filed
IX-2 Grants to domestic individualsPrograms $11,255$11,255
IX-5 Pay of current officers, directors and key staffPrograms $38,831 · Management $19,415 · Fundraising $38,831$97,077
IX-7 Other salaries and wagesPrograms $58,522 · Management $19,487 · Fundraising $9,674$87,683
IX-9 Other employee benefitsPrograms $8,059 · Management $6,154 · Fundraising $4,399$18,612
IX-10 Payroll taxesPrograms $8,104 · Management $3,235 · Fundraising $4,028$15,367
IX-11c Accounting feesManagement $6,625$6,625
IX-11g Other fees for servicesPrograms $18,355 · Management $6,684 · Fundraising $1,102$26,141
IX-12 Advertising and promotionManagement $763$763
IX-13 Office expensesManagement $3,471$3,471
IX-17 TravelManagement $10,873$10,873
IX-22 Depreciation, depletion and amortizationPrograms $4,586$4,586
IX-24 Other expenses (24a–d)Programs $65,878 · Fundraising $98,071$163,949
IX-24e All other expensesPrograms $9,479 · Management $10,083$19,562
IX-25 Total functional expensesPrograms $223,069 · Management $86,790 · Fundraising $156,105$465,964
Part X · Balance sheet $164,768 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $232,846$104,815
X-4 Accounts receivableStart of year $66,800$31,866
X-9 Prepaid expenses and deferred chargesStart of year $5,714$5,159
X-10c Land, buildings and equipment, net$22,928
X-16 Total assetsStart of year $305,360$164,768
X-17 Accounts payable and accrued expensesStart of year $12,016$18,905
X-26 Total liabilitiesStart of year $20,728$18,905
X-27 Net assets without donor restrictionsStart of year $284,632$145,863
X-32 Total net assets or fund balancesStart of year $284,632$145,863
X-33 Total liabilities and net assetsStart of year $305,360$164,768
Part XI · Reconciliation of net assets $145,863 net assets at year end
XI-1 Total revenue$327,195
XI-2 Total expenses$465,964
XI-3 Revenue less expenses−$138,769
XI-4 Net assets at start of year$284,632
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$145,863

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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