Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2015.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
100 cents of each dollar spent went to programs.
Form 990 Part IX, line 25. Every line is in By the numbers.
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Who runs it and what they're paid
5 people listed on the 990; $67K paid to officers and key staff.
William Rey’s $67K as CEO is at the 75th percentile of top reported officer pay among 1017 $100K–1M recreation & sports 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 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| William Rey | $67,040 | $59,082 | $55,200 | $82,800 | $67,000 | $58,242 |
| David McCauley | — | $5,068 | — | — | — | — |
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
Engage global communities and inspire people with disabilities to improve independence and quality of life.
Questions for The Impossible Dream INC
Your first name shows with your question. The Impossible Dream INC answers here, for everyone.
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Taking people with disabilities, wounded soldiers, and disadvantaged youth sailing aboard the universally accessible catamaran. Impossible dream received approximately $ 39,000 of in-kind docking during 2025.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2025 990, line by line.
Download 990
| Line | Start FY25 | End FY25 |
|---|---|---|
| Cash and savingsLn 1–2 | $76K | $165K |
| InvestmentsLn 11–13 | $31K | $31K |
| Land, buildings, equipmentLn 10c | $171K | $136K |
| Total assetsLn 16 | $277K | $332K |
| LiabilitiesLn 26 | $198K | $197K |
| Net assetsLn 32 | $79K | $136K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | $0 | ||
| Grants to domestic individualsLn 2 | $0 | $0 | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | $0 | ||
| Benefits paid to or for membersLn 4 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $67K | $67K | ||
| Accounting feesLn 11c | $11K | $11K | ||
| TravelLn 17 | $692 | $692 | ||
| InterestLn 20 | $5K | $5K | ||
| Depreciation, depletion and amortizationLn 22 | $34K | $34K | ||
| InsuranceLn 23 | $26K | $26K | ||
| Other expenses (24a–d)Ln 24 | $98K | $98K | $0 | $0 |
| All other expensesLn 24e | $52K | $52K | ||
| Total functional expensesLn 25 | $293K | $293K | $0 | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest Viewing | $349K | $293K | $57K | $136K | 990 PDF |
| FY2024 | $214K | $295K | −$80K | $79K | 990 PDF |
| FY2023 | $586K | $432K | $154K | $159K | 990 PDF |
| FY2022 | $285K | $261K | $25K | $50K | 990 PDF |
| FY2021 | $142K | $198K | −$56K | $25K | 990 PDF |
| FY2020 | $203K | $232K | −$28K | $81K | 990 PDF |
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Schedules filed Part IV
See the full FY2025 990 (6 parts)
Part I · Summary $349,452 revenue, 12 lines filed
Part VI · Governance 4 of 5 board members independent, 3 to look at
Part VIII · Statement of revenue $349,452 across 9 lines filed
Part IX · Statement of functional expenses $292,797 across 12 lines filed
Part X · Balance sheet $332,360 assets, 9 lines filed
Part XI · Reconciliation of net assets $135,768 net assets at year end
Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File
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