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Nonprofit · EIN 45-5261490

SCHOOL OF DREAMS EDUCATION FOUNDATION

Tax-exempt · LOS LUNAS, NM 87031

Financials

$688K$646K2023$688K$653K2024
Revenue Expenses · by fiscal year end
Financials of SCHOOL OF DREAMS EDUCATION FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$687,774$652,831$34,943$5,248,567$6,399,206-$1,150,639
December 31, 2023990$687,774$645,736$42,038$4,761,223$5,946,805-$1,185,582
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$687,774
Program service revenue
$0
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Salaries, compensation and benefits (total)
$0
Professional fundraising fees
$0
Legal fees
$11,264
Accounting fees
$9,272
Travel
$5,041
Depreciation
$222,076
Program services (functional)
$642,563
Management and general (functional)
$10,268

Balance sheet and other

Total assets, start of year
$4,761,223
Total assets, end of year
$5,248,567
Total liabilities, end of year
$6,399,206
Net assets, end of year
-$1,150,639
Land, buildings and equipment
$5,126,599
Gross receipts
$687,774
Employees
0
Year formed
2012
State of legal domicile
NM

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
PENNY LUCEROTREASURER
Trustee or director, Officer
–$0
RALPH MIMSBOARD MEMBER
Trustee or director
–$0
PAULA JEAN WALKER-CORRALPRESIDENT
Trustee or director, Officer
–$0
990 for the year ended December 31, 2023: 4 people
NameTitleHours / weekCompensation
LORENA HERRERATREASURER (F
Trustee or director
–$0
PENNY LUCEROTREASURER
Trustee or director, Officer
–$0
RALPH MIMSBOARD MEMBER
Trustee or director
–$0
PAULA JEAN WALKERPRESIDENT
Trustee or director, Officer
–$0

Address and contacts

Address (IRS master file)
906 JUAN PEREA RD, LOS LUNAS, NM 87031-7778
In care of
% CONSTANCE DOVE
Principal officer (990 for 2024)
PAULA JEAN WALKER-CORRAL
Signed the 990
PAULA JEAN WALKER-CORRAL, PRESIDENT
Return prepared by
JP JENNINGS CPA LLC

Mission

THE ENTITY WAS FORMED SPECIFICALLY TO SUPPORT THE SCHOOL OF DREAMS ACADEMY, A NOT-FOR-PROFIT PUBLIC CHARTER SCHOOL IN LOS LUNAS, NM AND A COMPONENT UNIT OF THE NEW MEXICO PUBLIC EDUCATION DEPARTMENT. IT'S MISSION IS TO ESTABLISH A PLATFORM FOR THE SCHOOL OF DREAM ACADEMY CAMPUS AND STUDENT PROGRAMS.

990 for the year ended December 31, 2024

Program accomplishments

  • THE PROGRAM SUPPORTS THE SCHOOL OF DREAMS ACADEMY, A NOT-FOR-PROFIT PUBLIC CHARTER SCHOOL IN LOS LUNAS, NM, CAMPUS AND STUDENT PROGRAMS.
    Expenses $642,563

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
45-5261490
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Supporting organization, Type I
Donations deductible (Pub 78)
Supporting organization, 50% limit
Exempt since
2013
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B11)
Assets (IRS master file)
$5,248,567
Income (IRS master file)
$687,774

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$687,774$652,831$5,248,567XML
990December 2023$687,774$645,736$4,761,223XML
990December 2020–––IRS
990December 2019–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 45-5261490).

Questions about SCHOOL OF DREAMS EDUCATION FOUNDATION

What is the EIN of SCHOOL OF DREAMS EDUCATION FOUNDATION?
The employer identification number (EIN) of SCHOOL OF DREAMS EDUCATION FOUNDATION is 45-5261490.
Is SCHOOL OF DREAMS EDUCATION FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2013.
Are donations to SCHOOL OF DREAMS EDUCATION FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Supporting organization, 50% limit).
Which annual return does SCHOOL OF DREAMS EDUCATION FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of SCHOOL OF DREAMS EDUCATION FOUNDATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did SCHOOL OF DREAMS EDUCATION FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of SCHOOL OF DREAMS EDUCATION FOUNDATION?
The 990 for the year ended December 31, 2024 names PAULA JEAN WALKER-CORRAL.
Who are the officers and directors of SCHOOL OF DREAMS EDUCATION FOUNDATION?
The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
How much revenue does SCHOOL OF DREAMS EDUCATION FOUNDATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $687,774, expenses of $652,831 and total assets of $5,248,567 at year end.

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