Form 990 for tax year 2024
Filed by FOLLOW YOUR DREAM FOUNDATION INC.
Totals
- Total revenue
- $1,250,476
- Total expenses
- $26,669,090
- Contributions and grants received
- $399,999
- Grants paid
- $20,931,602
- Program service revenue
- $136,244
- Investment income
- $714,233
- Other revenue
- $0
- Total assets, end of year
- $29,658,116
- Total liabilities, end of year
- $21,347,765
- Net assets or fund balances, end of year
- $8,310,351
- Program services expenses (Part IX)
- $26,435,153
- Management and general expenses
- $233,937
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $26,435,153
Program services were 99.1% 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.
-
1f · All other contributions, gifts and grants
$399,999
-
2a · Program service revenue: Loans interest income
total $34,747 · related or exempt $34,747
-
2b · Program service revenue: Tarrytown conference rev
total $101,497 · related or exempt $101,497
-
3 · Investment income
total $554,853 · excluded $554,853
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
securities $20,000,000
-
7b · Less cost or other basis and sales expenses
securities $19,840,620
-
7c · Gain or loss
securities $159,380
-
7d · Net gain or loss
total $159,380 · excluded $159,380
-
8c · Net income from fundraising events
total $0
-
9c · Net income from gaming
total $0
-
10c · Net income from sales of inventory
total $0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $18,965,732 · program services $18,965,732
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $1,965,870 · program services $1,965,870
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $269,498 · program services $269,498
-
8 · Pension plan contributions
total $12,320 · program services $12,320
-
9 · Other employee benefits
total $44,842 · program services $44,842
-
10 · Payroll taxes
total $17,839 · program services $17,839
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $118,119 · management and general $118,119
-
11c · Fees: accounting
total $19,083 · management and general $19,083
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $1,160,573 · program services $1,160,573
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $0
-
14 · Information technology
total $52,572 · management and general $52,572
-
15 · Royalties
total $0
-
16 · Occupancy
total $43,649 · management and general $43,649
-
17 · Travel
total $102,175 · program services $102,175
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $64,508 · program services $64,508
-
20 · Interest
total $0
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $0
-
23 · Insurance
total $0
-
24a · Other expenses: Investment impairment
total $3,165,050 · program services $3,165,050
-
24b · Other expenses: discount of grants payable
total $311,213 · program services $311,213
-
24c · Other expenses: Urban living costs
total $244,586 · program services $244,586
-
24d · Other expenses: Bad debt expense
total $66,202 · program services $66,202
-
24e · All other expenses
total $45,259 · program services $44,745 · management and general $514
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $320,303 · end of year $353,163
-
2 · Savings and temporary cash investments
beginning of year $882,003 · end of year $880,749
-
3 · Pledges and grants receivable
end of year $0
-
4 · Accounts receivable
end of year $0
-
5 · Loans and receivables from officers and key people
end of year $0
-
6 · Loans and receivables from disqualified persons
end of year $0
-
7 · Other notes and loans receivable
end of year $0
-
8 · Inventories for sale or use
end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $30,057 · end of year $89,709
-
10c · Land, buildings and equipment, net
end of year $0
-
11 · Investments: publicly traded securities
beginning of year $47,030,384 · end of year $11,518,436
-
12 · Investments: other securities
end of year $0
-
13 · Investments: program-related
beginning of year $10,651,297 · end of year $15,783,760
-
14 · Intangible assets
end of year $0
-
15 · Other assets
beginning of year $361,891 · end of year $1,032,299
-
17 · Accounts payable and accrued expenses
beginning of year $81,469 · end of year $62,043
-
18 · Grants payable
beginning of year $23,954,338 · end of year $21,285,722
-
27 · Net assets without donor restrictions
beginning of year $35,240,128 · end of year $8,310,351
Mission and programs · 2024
Mission
To create better futures for disadvantaged people
-
Running the Livelihood Impact Fund program, which provides grants and loans and intensive consulting support for organizations working to increase incomes for the poor.As part of the Livelihood Impact Fund program, Follow Your Dream has a team of staff, consultants and volunteers who work closely with our grantees. This team has specialized skills and expertise in a range of relevant areas. They provide capacity building support to our grantees and also oversee our research grants. In some areas, such as our eyeglass initiative, our director supervises and directs the activities of grantee organizations as part of our work to significantly increase the number of reading glasses distributed to low-income people. In these cases, grantees conduct activities under the general direction and supervision of Follow Your Dream.FYD has made program-related investments in several for-profit social enterprises, such as Kuza Koolers, Rashak and Farmworks. In these cases, we work closely with the organizations to build their capacity and help them strengthen their long-term impact.
Expenses $25,552,905 · Grants $20,761,340 · Revenue $136,244
-
Running programs to benefit poor youth
Expenses $667,241
-
Providing educational scholarships and mentorship
Expenses $215,007 · Grants $170,262
As filed on the 2024 return.
Listed in Part VII
-
Jeremy Hockenstein
President/Treas
- Total calculated
- $59,333
- From this org
- $59,333
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5
Schedule J breakdown matched by us
- Base
- $59,333
- Bonus
- not reported
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $59,333
-
Amolo Ngweno
Director
- Total calculated
- $0
- Hours/week
- 1
-
Noelia Moshi
Director
- Total calculated
- $0
- Hours/week
- 1
-
Vernon Naidoo
Secretary
- Total calculated
- $0
- Hours/week
- 1
-
Sari Miller
Director
- Total calculated
- $0
- Hours/week
- 1
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
The filer's explanations (Part III)
- Part II, Compensation from Unrelated Organizations
- JEREMY HOCKENSTEIN EARNED $59,333 IN DEFERRED COMPENSATION FROM THE 2:16 FUND, ATAX-EXEMPT ORGANIZATION (EIN 85-4221881) IN THE CALENDAR YEAR 2024, FOR ADVISING ANDSUPPORTING THE SETUP AND RUNNING OF THE LIVELIHOOD IMPACT FUND PROGRAM.
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
-
$4,400,000
General Support
-
$2,200,000
General Support
-
$2,000,000
General Support
-
$2,000,000
General Support
-
$1,152,452
General Support
-
$750,000
General Support
-
$750,000
General Support
-
$750,000
General Support
-
$500,000
General Support
-
$500,000
General Support
The 10 largest by cash amount. The API serves every itemized grant.
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 November 2025
- IRS schema version
- 2024v5.2
- Source object
- 202533219349318168
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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