Dreamchasers Academy INC

Brooklyn, NYUnknown exempt organization EIN 82-4726064Revenue $124K in FY2020

On file with the IRS40 Varet Street · Brooklyn, NY

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Creating acadamic opportunity through baseball

Mission: Form 990 Part I, line 1

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2020
latest Form 990
Concern: the latest return is for FY2020, 6 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $7K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
total owed
No data yet: the filing does not give total assets.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$124K
Spent
$127K
To programs
0%
Net assets
$0

From the FY2020 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Exemption reinstated (2021-05-15). Per the IRS revocation list. Latest filing on record: FY2020.

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

Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
See Dreamchasers Academy INC 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 15aNo

Programs and updates

Helps students achieve academic success by providing baseball programs.

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Provided by the organization

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3 programs · in their own filed words · FY2020
01

Registration fees from all the members

Pt IX · col B
02

Team merchandise & apparell

Pt IX · col B
03

Online fundraising

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$7K

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$124K
Ln 12
Gifts and grantsLn 1h$124K
Money outPt IX
$127K
Ln 25
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$0
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$124K
Total revenueLn 12$124K
Assets in detailPt X, end of year
Total assetsLn 16$0
LiabilitiesLn 26$0
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Total assetsLn 16$0$0
LiabilitiesLn 26$0$0
Net assetsLn 32$0$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$20K
Advertising and promotionLn 12$2K
Office expensesLn 13$8K
TravelLn 17$16K
Conferences, conventions and meetingsLn 19$5K
InsuranceLn 23$400
Other expenses (24a–d)Ln 24$71K
All other expensesLn 24e$4K
Total functional expensesLn 25$127K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2020 Latest Viewing $124K$127K−$4K$0 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $123,500 revenue, 12 lines filed
I-8 Contributions and grants$123,500
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenue$123,500
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$127,416
I-18 Total expenses$127,416
I-19 Revenue less expenses−$3,916
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $123,500 across 4 lines filed
VIII-1b Membership dues$120,000
VIII-1h Total contributions, gifts and grants$123,500
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$123,500
Part IX · Statement of functional expenses $127,416 across 8 lines filed
IX-11a Management fees$20,500
IX-12 Advertising and promotion$1,744
IX-13 Office expenses$8,492
IX-17 Travel$16,500
IX-19 Conferences, conventions and meetings$4,850
IX-23 Insurance$400
IX-24 Other expenses (24a–d)$71,410
IX-24e All other expenses$3,520
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$127,416
Part X · Balance sheet $0 assets, 4 lines filed
X-16 Total assetsStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $0$0
X-33 Total liabilities and net assetsStart of year $0$0
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$123,500
XI-2 Total expenses$127,416
XI-3 Revenue less expenses−$3,916
XI-10 Net assets at end of year$0

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

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