Form 990 for tax year 2024
Filed by DREAMKEY PARTNERS MORTGAGE INC.
Totals
- Total revenue
- $32,610
- Total expenses
- $14,753
- Contributions and grants received
- $16,400
- Grants paid
- $0
- Program service revenue
- $14,291
- Investment income
- $1,919
- Other revenue
- $0
- Total assets, end of year
- $1,708,577
- Total liabilities, end of year
- $1,777,762
- Net assets or fund balances, end of year
- -$69,185
- Program services expenses (Part IX)
- $14,753
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $14,753
Program services were 100.0% 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)
$16,400
-
2a · Program service revenue: Loan Fee Income
total $861 · related or exempt $861
-
2b · Program service revenue: Counseling Fees
total $5,500 · related or exempt $5,500
-
2c · Program service revenue: Other Income
total $7,930 · related or exempt $7,930
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $1,919 · related or exempt $1,919
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
11c · Fees: accounting
total $6,500 · program services $6,500
-
11g · Fees: other
total $0 · program services $0 · management and general $0 · fundraising $0
-
24a · Other expenses: Forgiveness of Debt Expense
total $6,888 · program services $6,888
-
24b · Other expenses: General Liability Insurance
total $1,125 · program services $1,125
-
24c · Other expenses: Bank Fees
total $240 · program services $240
-
24e · All other expenses
total $0 · program services $0 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $715,716 · end of year $1,114,965
-
4 · Accounts receivable
beginning of year $0 · end of year $36,000
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $71,860 · end of year $62,202
-
10a · Land, buildings and equipment: cost or other basis
$0
-
10b · Land, buildings and equipment: accumulated depreciation
$0
-
10c · Land, buildings and equipment, net
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $1,107,005 · end of year $495,410
-
19 · Deferred revenue
beginning of year $570,309 · end of year $497,409
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $1,411,314 · end of year $1,280,353
-
27 · Net assets without donor restrictions
beginning of year -$87,042 · end of year -$69,185
Mission and programs · 2024
Mission
TO PROVIDE MORTGAGE BROKERING AND MORTGAGE BANKING SERVICES TO INDIVIDUALS AND FAMILIES DIRECTLY AND INDIRECTLY SERVED BY DREAMKEY PARTNERS, INC.
-
DREAMKEY PARTNERS MORTGAGE, INC. WAS ORGANIZED TO SUPPORT AND IMPLEMENT THE PROGRAMS AND ACTIVITIES OF DREAMKEY PARTNERS, INC., (THE "PARENT") A NORTH CAROLINA NON-PROFIT CORPORATION, BY PROVIDING MORTGAGE BROKERING AND MORTGAGE BANKING SERVICES TO INDIVIDUALS AND FAMILIES DIRECTLY AND INDIRECTLY SERVED BY DREAMKEY PARTNERS, INC. THE ORGANIZATION PROVIDES PRE-PURCHASE EDUCATION AND PREPARATION AS WELL AS DOWN PAYMENT ASSISTANCE TO FUTURE ELIGIBLE HOMEBUYERS IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF GRANTS WHICH FUND SPECIFIC ACTIVITIES RELATED TO HOMEOWNERSHIP.
Expenses $14,753 · Revenue $16,210
As filed on the 2024 return.
Listed in Part VII
-
Mr Fred Dodson Jr
Vice President
- Total calculated
- $290,982
- From this org
- $0
- From related orgs
- $264,372
- Other
- $26,610
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $264,372 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $15,862 related
- Nontaxable benefits
- $0 + $10,748 related
- Filer's total
- $0 + $290,982 related
-
Mr Kevin Schrader
Treasurer
- Total calculated
- $199,497
- From this org
- $0
- From related orgs
- $198,956
- Other
- $541
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $198,956 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0 + $541 related
- Filer's total
- $0 + $199,497 related
-
Ms Julie A Porter
President
- Total calculated
- $381,585
- From this org
- $0
- From related orgs
- $341,173
- Other
- $40,412
- Hours/week
- 1 + 40 related
Schedule J breakdown matched by us
- Base
- $0 + $341,173 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $39,871 related
- Nontaxable benefits
- $0 + $541 related
- Filer's total
- $0 + $381,585 related
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
None.
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
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.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(c)(3) · Low-Income Housing · NC
Directly controlled by DKP Inc
-
501(c)(3) · Low-Income Housing · NC
Directly controlled by NA
-
501(c)(3) · Low-Income Housing · NC
Directly controlled by DKP Inc
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.
-
Atando Apartments LLC
Related · Rental Real Estate · NC
Directly controlled by Atando Manager Inc
-
Breckinridge Oaks Partners LLC
Related · Rental Real Estate · GA
Directly controlled by CMHP TECE Georgia Inc
-
Breckinridge Oaks LP
Related · Rental Real Estate · GA
Directly controlled by Breckingridge Oaks Partners LLC
-
Catawba Senior Housing LLC
Related · Rental Real Estate · NC
Directly controlled by Catawba Senior Manager Inc
-
Connelly Apartments LLC
Related · Rental Real Estate · NC
Directly controlled by Connelly Manager Inc
-
Dillard School Apartments LLC
Related · Rental Real Estate · NC
Directly controlled by Dillard Manager Inc
-
Dunbar Place Apartments LLC
Related · Rental Real Estate · SC
Directly controlled by Dunbar Manager Inc
-
Freedom Apartments LLC
Related · Rental Real Estate · NC
Directly controlled by Freedom Manager Inc
-
Freedom Land JV LLC
Related · Rental Real Estate · NC
Directly controlled by DKP Inc
-
Gables II LLC
Related · Rental Real Estate · NC
Directly controlled by Gables II Manager Inc
-
Hearthside Lafayette Partners LLC
Related · Rental Real Estate · GA
Directly controlled by CMHP TECE Georgia Inc
-
Hearthside Lafayette LP
Related · Rental Real Estate · GA
Directly controlled by Hearthside Lafayette Partners LLC
-
JOS Apartments LLC
Related · Rental Real Estate · NC
Directly controlled by JOS Manager Inc
-
Kohler Avenue LLC
Related · Rental Real Estate · NC
Directly controlled by Kohler Manager Inc
-
Mayfield Apartments LLC
Related · Rental Real Estate · NC
Directly controlled by Mayfield Manager Inc
-
Nolley Apartments LLC
Related · Rental Real Estate · NC
Directly controlled by Nolley Manager Inc
-
South Oak Crossing LLC
Related · Rental Real Estate · NC
Directly controlled by DKP Inc
-
South Park Seniors LLC
Related · Rental Real Estate · NC
Directly controlled by DKP Inc
-
Statesville Avenue Homes LLC
Related · Rental Real Estate · NC
Directly controlled by Statesville Ave Manager Inc
-
Tuckaseegee Senior LLC
Related · Rental Real Estate · NC
Directly controlled by Tuckaseegee Manager Inc
-
Wellspring Village LLC
Related · Rental Real Estate · NC
Directly controlled by Wellspring Manager Inc
-
Westinghouse Apartments LLC
Related · Rental Real Estate · NC
Directly controlled by Westinghouse Manager Inc
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Atando Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Catawba Senior Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
CMHP TECE Georgia Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
CMHP TECE Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by CMHP Properties Inc
-
Connelly Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Dillard Manager Inc
C Corporation · Real Estate Mgmt · SC
Directly controlled by DKP Inc
-
Dunbar Manager Inc
C Corporation · Real Estate Mgmt · SC
Directly controlled by DKP Inc
-
Freedom Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Gables II Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
JOS Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Kohler Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Mayfield Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Nolley Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Statesville Avenue Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Tuckaseegee Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Wellspring Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
-
Westinghouse Manager Inc
C Corporation · Real Estate Mgmt · NC
Directly controlled by DKP Inc
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 November 2025
- IRS schema version
- 2024v5.1
- Source object
- 202513189349307641
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