Totals
- Total revenue
- $14,674,824
- Total expenses
- $23,123,632
- Contributions and grants received
- $5,286,403
- Grants paid
- $0
- Program service revenue
- $9,018,992
- Investment income
- $273,126
- Other revenue
- $96,303
- Total assets, end of year
- $72,311,430
- Total liabilities, end of year
- $47,631,443
- Net assets or fund balances, end of year
- $24,679,987
- Program services expenses (Part IX)
- $21,170,115
- Management and general expenses
- $1,006,004
- Fundraising expenses
- $947,513
- Program service expenses (Part III)
- $21,170,115
Program services were 91.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$3,791,115
-
1f · All other contributions, gifts and grants
$1,495,288
-
1g · Noncash contributions included above
$36,002
-
2a · Program service revenue: LOAN INTEREST AND FEES
total $7,836,868 · related or exempt $7,836,868
-
2b · Program service revenue: SBA PPP LENDING FEES
total $944,639 · related or exempt $944,639
-
2c · Program service revenue: SECURED DEBT
total $237,485 · related or exempt $237,485
-
3 · Investment income
total $248,227 · excluded $248,227
-
7a · Gross sales of assets other than inventory
securities $397,440
-
7b · Less cost or other basis and sales expenses
securities $372,541
-
7c · Gain or loss
securities $24,899
-
7d · Net gain or loss
total $24,899 · excluded $24,899
-
11a · Other revenue: MANAGEMENT FEES
total $96,209 · related or exempt $96,209
-
11b · Other revenue: PARTNERSHIP INCOME - A
total $94 · related or exempt $94
-
11e · Other revenue, total
$96,303
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $1,132,489 · program services $896,345 · management and general $70,761 · fundraising $165,383
-
7 · Other salaries and wages
total $4,214,439 · program services $3,218,997 · management and general $496,406 · fundraising $499,036
-
9 · Other employee benefits
total $362,960 · program services $279,358 · management and general $38,500 · fundraising $45,102
-
10 · Payroll taxes
total $358,289 · program services $275,762 · management and general $38,005 · fundraising $44,522
-
11b · Fees: legal
total $1,050,769 · program services $921,131 · management and general $90,653 · fundraising $38,985
-
11c · Fees: accounting
total $77,795 · program services $68,197 · management and general $6,712 · fundraising $2,886
-
11f · Fees: investment management
total $14,036 · management and general $14,036
-
11g · Fees: other
total $468,267 · program services $410,495 · management and general $40,399 · fundraising $17,373
-
12 · Advertising and promotion
total $601,636 · program services $587,818 · management and general $30 · fundraising $13,788
-
13 · Office expenses
total $300,952 · program services $211,308 · management and general $63,506 · fundraising $26,138
-
14 · Information technology
total $550,029 · program services $447,531 · management and general $54,988 · fundraising $47,510
-
16 · Occupancy
total $99,355 · program services $82,383 · management and general $10,772 · fundraising $6,200
-
17 · Travel
total $98,319 · program services $72,270 · management and general $7,132 · fundraising $18,917
-
19 · Conferences, conventions and meetings
total $113,296 · program services $64,522 · management and general $35,970 · fundraising $12,804
-
20 · Interest
total $1,440,125 · program services $1,440,125
-
22 · Depreciation, depletion and amortization
total $114,080 · program services $96,234 · management and general $8,977 · fundraising $8,869
-
23 · Insurance
total $53,059 · program services $39,794 · management and general $13,265
-
24a · Other expenses: LOAN LOSS PROVISION
total $11,344,885 · program services $11,344,885
-
24b · Other expenses: LOAN SERVICING EXPENSE
total $566,169 · program services $566,169
-
24c · Other expenses: TEMPORARY SERVICES
total $162,683 · program services $146,791 · management and general $15,892
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $25,723,401 · end of year $21,027,488
-
2 · Savings and temporary cash investments
beginning of year $103,128 · end of year $90,923
-
3 · Pledges and grants receivable
beginning of year $5,279,069 · end of year $1,275,362
-
4 · Accounts receivable
beginning of year $647,981 · end of year $609,150
-
7 · Other notes and loans receivable
beginning of year $59,860,598 · end of year $45,046,355
-
9 · Prepaid expenses and deferred charges
beginning of year $215,123 · end of year $191,294
-
10a · Land, buildings and equipment: cost or other basis
$4,343,910
-
10b · Land, buildings and equipment: accumulated depreciation
$1,807,081
-
10c · Land, buildings and equipment, net
beginning of year $2,640,502 · end of year $2,536,829
-
11 · Investments: publicly traded securities
beginning of year $1,261,349 · end of year $1,447,970
-
12 · Investments: other securities
beginning of year $6,000 · end of year $6,000
-
15 · Other assets
beginning of year $52,478 · end of year $80,059
-
17 · Accounts payable and accrued expenses
beginning of year $12,062,664 · end of year $3,141,107
-
23 · Secured mortgages and notes payable
beginning of year $3,488,511 · end of year $3,471,501
-
24 · Unsecured notes and loans payable
beginning of year $42,685,709 · end of year $41,018,835
-
27 · Net assets without donor restrictions
beginning of year $27,418,128 · end of year $16,630,965
-
28 · Net assets with donor restrictions
beginning of year $10,134,617 · end of year $8,049,022
Mission and programs · 2023
Mission
DREAMSPRING INCREASES ACCESS TO BUSINESS CREDIT, MAKES LOANS AND PROVIDES TRAINING WHICH ENABLE UNDERSERVED ENTREPRENEURS TO REALIZE THEIR DREAMS AND BE CATALYSTS FOR POSITIVE ECONOMIC AND SOCIAL CHANGE.
Activities or mission (Part I)
DREAMSPRING IS A NONPROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND U.S. SMALL BUSINESS ADMINISTRATION (SBA) LENDER DEDICATED TO ACCELERATING THE ECONOMIC INCLUSION AND STRENGTH OF UNDERSERVED COMMUNITIES. FOUNDED IN 1994, THE ORGANIZATION PROVIDES RAPID ACCESS TO CAPITAL AND CUSTOMIZED WRAP-AROUND SUPPORT TO THE MOST VULNERABLE SMALL BUSINESS OWNERS IN 27 STATES, FOCUSING ON COMMUNITIES INCLUDING PEOPLE OFCOLOR, WOMEN, LOW- TO MODERATE-INCOME EARNERS, PEOPLE WITH DISABILITIES, AND START-UPS.
-
DREAMSPRING PROVIDES TOOLS TO HELP SMALL BUSINESSES OPERATE, GROW OR START THEIR BUSINESS. WE INCREASE ACCESS TO BUSINESS CREDIT, MAKE LOANS AND PROVIDE TRAINING TO HELP ENTREPRENEURS THRIVE. IN 2023 DREAMSPRING MADE 1,578 LOANS, FOR $23.97 MILLION, THAT CREATED OR SUSTAINED 4,138 JOBS.
Expenses $21,170,115 · Revenue $9,115,295
As filed on the 2023 return.
Listed in Part VII
-
Edmond JohnsonEDMOND JOHNSON
CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Virginia BaylessVIRGINIA BAYLESS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Yashoda NaidooYASHODA NAIDOO
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Anthony SharettANTHONY SHARETT
VICE CHAIR
- Total calculated
- $0
- Hours/week
- 2
-
Bill RidenourBILL RIDENOUR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Betty ArkellBETTY ARKELL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Irv Ashford JrIRV ASHFORD JR
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Kim PeoneKIM PEONE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Jerrie MerrittJERRIE MERRITT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Alice RodriguezALICE RODRIGUEZ
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Anne HainesANNE HAINES
PRESIDENT & CEO
- Total calculated
- $276,374
- From this org
- $262,716
- From related orgs
- $0
- Other
- $13,658
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $262,666
- Bonus
- $50
- Other
- $0
- Deferred
- $7,727
- Nontaxable benefits
- $5,931
- Filer's total
- $276,374
-
Suzette M LongfellowSUZETTE M LONGFELLOW
CHIEF FINANCIAL OFFICER
- Total calculated
- $236,561
- From this org
- $224,123
- From related orgs
- $0
- Other
- $12,438
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $204,167
- Bonus
- $19,956
- Other
- $0
- Deferred
- $6,507
- Nontaxable benefits
- $5,931
- Filer's total
- $236,561
-
Marisa BarreraMARISA BARRERA
CHIEF IMPACT OFFICER
- Total calculated
- $192,593
- From this org
- $187,058
- From related orgs
- $0
- Other
- $5,535
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $171,237
- Bonus
- $15,821
- Other
- $0
- Deferred
- $5,535
- Nontaxable benefits
- $0
- Filer's total
- $192,593
-
Francisco LopezFRANCISCO LOPEZ
CHIEF OPERATIONS & INNOVATION OFFICER
- Total calculated
- $239,667
- From this org
- $233,736
- From related orgs
- $0
- Other
- $5,931
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $213,294
- Bonus
- $20,442
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $5,931
- Filer's total
- $239,667
-
Margaret SmithMARGARET SMITH
CHIEF LENDING & CLIENT EXP OFFICER
- Total calculated
- $187,293
- From this org
- $178,750
- From related orgs
- $0
- Other
- $8,543
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,980
- Bonus
- $15,770
- Other
- $0
- Deferred
- $2,612
- Nontaxable benefits
- $5,931
- Filer's total
- $187,293
-
Amber Marie KaniAMBER MARIE KANI
HEAD OF STAKEHOLDER ENGAGEMENT
- Total calculated
- $164,149
- From this org
- $153,749
- From related orgs
- $0
- Other
- $10,400
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $142,478
- Bonus
- $11,271
- Other
- $0
- Deferred
- $4,469
- Nontaxable benefits
- $5,931
- Filer's total
- $164,149
-
Brian DaskalovitzBRIAN DASKALOVITZ
DIRECTOR OF RISK
- Total calculated
- $142,111
- From this org
- $137,662
- From related orgs
- $0
- Other
- $4,449
- Hours/week
- 40
-
Analisa SmithANALISA SMITH
SR. DIRECTOR OF FINANCE
- Total calculated
- $146,822
- From this org
- $137,246
- From related orgs
- $0
- Other
- $9,576
- Hours/week
- 40
-
Darcie DefoeDARCIE DEFOE
DIRECTOR OF MARKETING
- Total calculated
- $151,380
- From this org
- $141,373
- From related orgs
- $0
- Other
- $10,007
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $130,102
- Bonus
- $11,271
- Other
- $0
- Deferred
- $4,076
- Nontaxable benefits
- $5,931
- Filer's total
- $151,380
-
Kimberly LeifesteKIMBERLY LEIFESTE
THIRD PARTY PRODUCT MANAGER
- Total calculated
- $112,789
- From this org
- $105,099
- From related orgs
- $0
- Other
- $7,690
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Form 990 of other organizations
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 5a · Pay contingent on this organization's revenues
- 6a · Pay contingent on this organization's net earnings
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5b · Pay contingent on a related organization's revenues
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 3
- THE CEO'S COMPENSATION IS APPROVED BY THE BOARD ANNUALLY.
- PART I, LINE 5
- INCENTIVE COMPENSATION PAID IS BASED ON PERFORMANCE OF THE ORGANIZATION.
- PART I, LINE 6
- INCENTIVE COMPENSATION PAID IS BASED ON PERFORMANCE OF THE ORGANIZATION.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
DREAMSPRING 2007A LLC
RELATED · CAPITAL · NM · 0.08% owned · share of income $20 · share of assets $1,020 · general or managing partner
-
DREAMSPRING 2011B LLC
RELATED · CAPITAL · NM · 0.4% owned · share of assets $1,001 · general or managing partner
-
DREAMSPRING 2011C LLC
RELATED · CAPITAL · NM · 0.4% owned · share of income $20 · share of assets $1,020 · general or managing partner
-
DREAMSPRING 2013D LLC
RELATED · CAPITAL · NM · 0.03% owned · share of income $20 · share of assets $1,020 · general or managing partner
-
DREAMSPRING 2014E LLC
RELATED · CAPITAL · NM · 0.04% owned · share of income $9 · share of assets $1,020 · general or managing partner
-
DREAMSPRING 2017G LLC
RELATED · CAPITAL · NM · 0.1% owned · share of income $25 · share of assets $1,025 · general or managing partner
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 28 October 2024
- IRS schema version
- 2023v5.1
- Source object
- 202413039349301611
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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