Nonprofit · EIN 46-0942657
THE DREAM CENTER
Tax-exempt (reinstated) · IOWA CITY, IA 52240
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| June 30, 2025 | 990 | $2,350,596 | $414,374 | $1,936,222 | $2,714,238 | $559,603 | $2,154,635 |
| June 30, 2024 | 990 | $300,851 | $165,806 | $135,045 | $786,030 | $601,092 | $184,938 |
Financial details: 990 for the year ended June 30, 2025
Revenue
- Contributions, gifts and grants
- $2,328,600
- of which government grants
- $2,210,280
- Program service revenue
- $21,827
- Investment income
- $114
- Other revenue
- $55
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $82,692
- Other salaries and wages
- $118,628
- Salaries, compensation and benefits (total)
- $227,611
- Professional fundraising fees
- $0
- Accounting fees
- $9,000
- Occupancy
- $40,850
- Travel
- $8,571
- Program services (functional)
- $320,910
- Management and general (functional)
- $41,624
- Fundraising (functional)
- $51,840
Balance sheet and other
- Total assets, start of year
- $786,030
- Total assets, end of year
- $2,714,238
- Total liabilities, end of year
- $559,603
- Net assets, end of year
- $2,154,635
- Land, buildings and equipment
- $2,602,931
- Net assets without donor restrictions
- $95,696
- Net assets with donor restrictions
- $2,058,939
- Gross receipts
- $2,350,596
- Employees
- 11
- Year formed
- 2012
- State of legal domicile
- IA
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 June 30, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Fred Newell | Executive Dir. Trustee or director, Officer | 30 | $67,095 |
| Bob Goodfellow | Chairman Trustee or director, Officer | 3 | $0 |
| Aminata Taylor | Treasurer Trustee or director, Officer | 3 | $0 |
| Timothy McGinnes | Director Trustee or director | 2 | $0 |
| Emily Dvorak | Director Trustee or director | 1 | $0 |
| Julie Dancer | Director Trustee or director | 1 | $0 |
| Terrance Thames | Director Trustee or director, Officer | 1 | $0 |
| Karyl Bohnsack | Director Trustee or director | 1 | $0 |
| Kelby McClaran | Director Trustee or director | 1 | $0 |
990 for the year ended June 30, 2024: 10 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Angie Jordan | Director Trustee or director | 2 | $0 |
| Emily Dvorak | Director Trustee or director | 1 | $0 |
| Kate Degner | Director Trustee or director | 1 | $0 |
| Julie Dancer | Director Trustee or director | 1 | $0 |
| Terrance Thames | Director Trustee or director | 1 | $0 |
| Karyl Bohnsack | Director Trustee or director | 1 | $0 |
| Kelby McClaran | Director Trustee or director | 1 | $0 |
| Bob Goodfellow | Chairman Officer | 3 | $0 |
| Megan Matthews | Secretary Officer | 3 | $0 |
| Aminata Taylor | Treasurer Officer | 3 | $0 |
Address and contacts
- Address (IRS master file)
- 611 SOUTHGATE AVE, IOWA CITY, IA 52240-4462
- Signed the 990
- Fred Newell, Executive Director
- Phone
- (319) 594-1044
- Website
- https://www.dreamcityia.org/
- Return prepared by
- Tailored Tax and Accounting LLC
Mission
The Corporation is organized exclusively for the purpose of inspiring, uplifting, empowering, and equipping individuals with the tools needed to reach their full potential. Not withstanding the foregoing, however, the Corporation is organized exclusively for charitable and educational purposes, including, for such purposes, the making of distributions to organizations that qualify as exempt organizations under Section 501c 3 of the Internal Revenue Code of 1986, as amended or the corresponding provision of any future United States Internal Revenue Law.
Program accomplishments
- Youth Program-Our Youth Leadership Academy is broken into two sectors summer and after school. Our Summer program provided mentoring academic, and personal enrichment activities to 300+ youth in the summer, ages 10-17. The program was 4 days a week for 6 weeks throughout the summer. Our RISE After School Youth Leadership Program provided quality after-school programming consisting of weekly goal setting, academic supports, service projects, mentoring and group discussions focused on character,and building community connections. This program served 100+ youth ages 9-17 5 days a week. This program was funded by Johnson County Board of Supervisors Juvenile Justice Youth Development Fund. This year the program also included conferences.Expenses $157,679 · grants $57,100 · revenue $83,781
- Regional Hub-The Regional Hub Project enriches Johnson Countys entrepreneurial ecosystem through services that promote innovation, collaboration, and economic growth. The HUB will provide a commercial kitchen, access to resources, online collaboration platform, workshops and mentorship for the community.Expenses $113,371 · grants $67,778 · revenue $80,710
- Purpose Place-Dream City acts as a sponsor and supports the operations and community programs of the Church .The organizations activities are intended to enhance the well-being, personal development, and spiritual enrichment of youth and families within the community.Expenses $44,197 · grants $41,589
- Lawn Care Program- This program provides entrepreneurial skills for youth.Expenses $5,663 · revenue $15,588
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 June, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | June 30, 2026 | November 16, 2026 | Not due yet |
| 2024 | June 30, 2025 | November 17, 2025 | 990 on file |
| 2023 | June 30, 2024 | November 15, 2024 | 990 on file |
IRS record
- EIN
- 46-0942657
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2016
- Accounting year ends
- June
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $2,714,238
- Income (IRS master file)
- $2,350,596
Revocation and reinstatement
- Exemption revoked
- November 15, 2014
- Posted by the IRS
- April 30, 2016
- Reinstated
- Effective May 15, 2015
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | June 2025 | $2,350,596 | $414,374 | $2,714,238 | IRS |
| 990 | June 2024 | $300,851 | $165,806 | $786,030 | XML |
| 990 | June 2023 | $206,088 | $220,524 | $53,866 | IRS |
| 990 | June 2022 | – | – | – | IRS |
| 990 | June 2021 | – | – | – | IRS |
| 990-EZ | June 2020 | – | – | – | IRS |
| 990-EZ | June 2019 | – | – | – | IRS |
| 990-EZ | June 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 46-0942657).
Questions about THE DREAM CENTER
- What is the EIN of THE DREAM CENTER?
- The employer identification number (EIN) of THE DREAM CENTER is 46-0942657.
- Is THE DREAM CENTER tax-exempt?
- Yes. The IRS revoked its exemption on November 15, 2014 and reinstated it effective May 15, 2015.
- Are donations to THE DREAM CENTER tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE DREAM CENTER 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 THE DREAM CENTER due?
- The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE DREAM CENTER last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended June 2025.
- Who are the officers and directors of THE DREAM CENTER?
- The 990 for the year ended June 30, 2025 lists 9 people; 1 received compensation from the organization, the highest $67,095 (Fred Newell, Executive Dir.).
- How much revenue does THE DREAM CENTER have?
- On its 990 for the year ended June 30, 2025 it reported revenue of $2,350,596, expenses of $414,374 and total assets of $2,714,238 at year end.
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