Honor Your Dreams Foundation INC FY2024 filing

Tax-deductible

Brooklyn, NY501(c)(3)Since 2020Community DevelopmentEIN 85-1137904Revenue $571K in FY2024

On file with the IRShonoryourdreams.org299 Van Buren St Apt 2a, 11221-7879 · Brooklyn, NYTax-exempt since Jun 2020Publicly supported charity — 170(b)(1)(A)(vi)

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Honor Your Dreams Foundation, INC. Is a nonprofit unlocking economic mobility for low-income students through transformative workforce development, mentorship, and scholarships. We partner with leading employers and partners to connect young people with paid internships, skill-building opportunities, and capital to launch their careers, equipping them to turn Dreams and ambitions into dollars and achievements

501(c)(3) charity; gifts are tax-deductible.
77¢ of each $1 spent went to programs.
$77K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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
FY2026
latest Form 990
Looks good: the latest return is for FY2026, this tax year; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average deficit $1K a year · under 1% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
77%
of spending
Looks good: 77% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$77K
to officers and key staff · 18% of spending
Fine: pay to officers and key staff is 18% of spending; 15% to 20%.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
7
named funders · $115K
Looks good: 7 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$12K
3% of total assets
Looks good: liabilities are 3% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$571K
+88% vs prior year
Spent
$431K
To programs
77%
Net assets
$375K
By yearFY2021–FY2026
Revenue
$571K
FY2024▲ +88%
Tap a bar for its year
Revenue by fiscal year
FY2021$47K
FY2022$182K
FY2023$304K
FY2024$571K
FY2025$268K
FY2026$112K
Expenses
$431K
FY2024▲ +137%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022Not on file
FY2023$182K
FY2024$431K
FY2025$462K
FY2026$185K
Net assets
$375K
FY2024▲ +59%
Tap a bar for its year
Net assets by fiscal year
FY2021$34K
FY2022$114K
FY2023$236K
FY2024$375K
FY2025$181K
FY2026$108K

From the FY2024 Form 990 (year ending April 2024) · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2026) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2026. IRS ruling in Jun 2020.

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

Where the money goes

77 cents of each dollar spent went to programs.

Program services 77% · $334K Management & general 21% · $89K Fundraising 2% · $9K

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

12 people listed on the 990; $77K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President
$77,252Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Compliance Officer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Josue De Paz’s $83K as President is at the 59th percentile of top reported officer pay among 1709 $100K–1M community development 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

NameFY2026FY2025FY2024FY2023FY2022
Josue De Paz$83,176$90,625$77,252$41,020$50,000

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides free tech, broadband, training, and mentorship to help low-income NYC students achieve academic and career goals.

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Provided by the organization

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3 programs · $334K · in their own filed words · FY2023
01

High School Fellowship Program

We provide a after-school program that provides technology and broadband access, mentorship, digital skills training, and insight into career pathways; showing low-income high school students the opportunities that exist and guiding them on how to attain them, equalizing the academic and professional playing fields.

$290Kprogram expense
02

Dual Impact Internship Program

We connect underrepresented college students with paid summer internships at startups led by underrepresented founders to promote economic mobility and diverse entrepreneurship

$44Kprogram expense
03

One Time Tech Request Program

We provide technology to high school and college students in need in the New York City community.

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 · FY2024
See all 7 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$571K
Ln 12
Gifts and grantsLn 1h$562K
Other incomeLn 4–11$9K
Fees for servicesLn 2g$319
Money outPt IX
$431K
Ln 25
Programscol B$334K
Managementcol C$89K
Fundraisingcol D$9K
Owns and owesPt X
$375K
net assets · Ln 32
Cash and savingsLn 1–2$321K
Total assetsLn 16$387K
LiabilitiesLn 26$12K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$562K
Noncash giftsLn 1g$35K
Fees for servicesLn 2g$319
Other incomeLn 4–11$9K
Total revenueLn 12$571K
Assets in detailPt X, end of year
CashLn 1$321K
Cash and savings togetherLn 1–2$321K
Total assetsLn 16$387K
LiabilitiesLn 26$12K
Net assetsLn 32$375K
OperationsPt I, VI
EmployeesI 53
VolunteersI 675
Fiscal year endsHeaderApril
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$157K$321K
Total assetsLn 16$240K$387K
LiabilitiesLn 26$4K$12K
Net assetsLn 32$236K$375K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$77K$54K$15K$8K
Other salaries and wagesLn 7$170K$136K$34K$0
Other employee benefitsLn 9$2K$2K$390$0
Payroll taxesLn 10$21K$16K$4K$628
Management feesLn 11a$7K$7K$0$0
Other fees for servicesLn 11g$29K$10K$19K$0
Advertising and promotionLn 12$5K$5K$0$264
Office expensesLn 13$6K$1K$4K$0
Information technologyLn 14$17K$15K$2K$0
OccupancyLn 16$5K$2K$3K$0
TravelLn 17$5K$4K$938$0
Conferences, conventions and meetingsLn 19$7K$4K$3K$0
InterestLn 20$325$325$0$0
InsuranceLn 23$1K$0$1K$0
Other expenses (24a–d)Ln 24$78K$76K$1K$147
All other expensesLn 24e$2K$1K$1K$0
Total functional expensesLn 25$431K$334K$89K$9K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2026 Latest $112K$185K−$73K$108K 990 PDF
FY2025 $268K$462K−$194K$181K 990 PDF
FY2024 Viewing $571K$431K$139K$375K 990 PDF
FY2023 $304K$182K$122K$236K 990 PDF
FY2022 $182K$114K 990 PDF
FY2021 $47K$34K 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 (6 parts)
Part I · Summary $570,863 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $298,143$561,922
I-9 Program service revenuePrior year $5,569$319
I-10 Investment income$0
I-11 Other revenue$8,622
I-12 Total revenuePrior year $303,712$570,863
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $109,599$269,835
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $72,183$161,533
I-18 Total expensesPrior year $181,782$431,368
I-19 Revenue less expensesPrior year $121,930$139,495
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $570,863 across 6 lines filed
VIII-1f All other contributions, gifts and grants$561,922
VIII-1g Noncash contributions (included above)$34,860
VIII-1h Total contributions, gifts and grants$561,922
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $319$319
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $8,622$8,622
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $8,941$570,863
Part IX · Statement of functional expenses $431,368 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $54,077 · Management $15,450 · Fundraising $7,725$77,252
IX-7 Other salaries and wagesPrograms $135,757 · Management $33,939 · Fundraising $0$169,696
IX-9 Other employee benefitsPrograms $1,558 · Management $390 · Fundraising $0$1,948
IX-10 Payroll taxesPrograms $16,123 · Management $4,188 · Fundraising $628$20,939
IX-11a Management feesPrograms $7,000 · Management $0 · Fundraising $0$7,000
IX-11g Other fees for servicesPrograms $10,175 · Management $18,745 · Fundraising $0$28,920
IX-12 Advertising and promotionPrograms $4,546 · Management $0 · Fundraising $264$4,810
IX-13 Office expensesPrograms $1,386 · Management $4,187 · Fundraising $0$5,573
IX-14 Information technologyPrograms $14,979 · Management $1,914 · Fundraising $0$16,893
IX-16 OccupancyPrograms $2,027 · Management $3,009 · Fundraising $0$5,036
IX-17 TravelPrograms $3,754 · Management $938 · Fundraising $0$4,692
IX-19 Conferences, conventions and meetingsPrograms $4,301 · Management $2,549 · Fundraising $0$6,850
IX-20 InterestPrograms $325 · Management $0 · Fundraising $0$325
IX-23 InsurancePrograms $0 · Management $1,340 · Fundraising $0$1,340
IX-24 Other expenses (24a–d)Programs $76,455 · Management $1,173 · Fundraising $147$77,775
IX-24e All other expensesPrograms $1,132 · Management $1,187 · Fundraising $0$2,319
IX-25 Total functional expensesPrograms $333,595 · Management $89,009 · Fundraising $8,764$431,368
Part X · Balance sheet $387,064 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $156,945$321,229
X-3 Pledges and grants receivableStart of year $36,000$20,000
X-8 Inventories for sale or useStart of year $46,858$37,610
X-9 Prepaid expenses and deferred charges$8,225
X-16 Total assetsStart of year $239,803$387,064
X-17 Accounts payable and accrued expensesStart of year $4,210$11,976
X-26 Total liabilitiesStart of year $4,210$11,976
X-27 Net assets without donor restrictionsStart of year $235,593$345,088
X-28 Net assets with donor restrictions$30,000
X-32 Total net assets or fund balancesStart of year $235,593$375,088
X-33 Total liabilities and net assetsStart of year $239,803$387,064
Part XI · Reconciliation of net assets $375,088 net assets at year end
XI-1 Total revenue$570,863
XI-2 Total expenses$431,368
XI-3 Revenue less expenses$139,495
XI-4 Net assets at start of year$235,593
XI-10 Net assets at end of year$375,088

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

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