Nonprofit · EIN 81-3938375
TEAM DREA FOUNDATION INC
Tax-exempt · RALEIGH, NC 27606
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $264,352 | $343,505 | -$79,153 | $187,480 | $4 | $187,476 |
| December 31, 2023 | 990 | $301,132 | $254,098 | $47,034 | $266,835 | $206 | $266,629 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $267,209
- Program service revenue
- $0
- Investment income
- $0
- Net income from fundraising events
- -$10,446
- Net income from sales of inventory
- $7,364
- Other revenue
- -$2,857
Expenses
- Grants and similar amounts paid
- $232,254
- Compensation of officers, directors and key employees
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $21,081
- Travel
- $624
- Depreciation
- $62,482
- Program services (functional)
- $268,914
- Management and general (functional)
- $54,124
- Fundraising (functional)
- $20,467
Balance sheet and other
- Total assets, start of year
- $266,835
- Total assets, end of year
- $187,480
- Total liabilities, end of year
- $4
- Net assets, end of year
- $187,476
- Net assets without donor restrictions
- $158,261
- Net assets with donor restrictions
- $29,215
- Gross receipts
- $280,578
- Employees
- 0
- Volunteers
- 15
- Year formed
- 2016
- State of legal domicile
- NC
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.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| David Peet | Chairman Trustee or director, Officer | 5 | $0 |
| Angela Ayres | Vice Chairwoman Trustee or director, Officer | 1 | $0 |
| Ashley Kollme | Secretary Trustee or director, Officer | 1 | $0 |
| Douglas Kollme | Treasurer Trustee or director, Officer | 1 | $0 |
| Jason Biggs | Member of Board Trustee or director | 1 | $0 |
| Elizabeth Spitz | Member of Board Trustee or director | 2 | $0 |
| Jillaine Baker | Member of Board Trustee or director | 2 | $0 |
| Ann Bowen | Member of Board Trustee or director | 2 | $0 |
| Andrea Peet | President Officer | 10 | $0 |
990 for the year ended December 31, 2023: 9 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| David Peet | Chairman Trustee or director, Officer | 10 | $0 |
| Angela Ayres | Vice Chairwoman Trustee or director, Officer | 1 | $0 |
| Ashley Kollme | Secretary Trustee or director, Officer | 1 | $0 |
| Douglas Kollme | Treasurer Trustee or director, Officer | 1 | $0 |
| Jason Biggs | Member of Board Trustee or director | 1 | $0 |
| Elizabeth Spitz | Member of Board Trustee or director | 2 | $0 |
| Jillaine Baker | Member of Board Trustee or director | 2 | $0 |
| Ann Bowen | Member of Board Trustee or director | 2 | $0 |
| Andrea Peet | President Officer | 20 | $0 |
Address and contacts
- Address (IRS master file)
- 5144 NORMAN PL, RALEIGH, NC 27606-2223
- Principal officer (990 for 2024)
- David Peet, 5144 Norman Pl, Raleigh, NC 27606
- Signed the 990
- Andrea Peet, President
- Phone
- (828) 228-1334
- Website
- https://www.teamdrea.org
- 990-N for 2017 filed under this EIN
- Most likely by a chapter, club or affiliate (it says receipts are normally $50,000 or less). Officer: David Peet, 2004 Flagstone Pl, Raleigh NC 27612. Mailing address: 2004 Flagstone Pl, Raleigh NC 27612. Website: https://www.teamdrea.com/
- Return prepared by
- MIG MURPHY SISTROM CPA PC
Mission
The Team Drea Foundation funds bold, innovative research to find a cure or effective treatment for amyotrophic lateral sclerosis (ALS).
Program accomplishments
- Team Drea Foundation contributes to research organizations to further research a cure for ALS. In 2024, Team Drea Foundation contributed $232,000 to research organizations.Expenses $233,860 · grants $232,254
- Team Drea Foundation raises awareness to find a cure for ALS. Our message reaches hundreds of individuals through fundraising events and thousands through social media. In 2024, our documentary was screened in 5 cities, by at least 10 organizations and institutions, and was streamed 164 times to raise awareness of this devastating disease. Our founder's memoir (published in 2023) sold approximately 300 copies in the calendar year.Expenses $35,054 · revenue $7,364
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 81-3938375
- 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
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Voluntary health associations and medical disciplines (G80)
- Assets (IRS master file)
- $187,480
- Income (IRS master file)
- $280,578
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $264,352 | $343,505 | $187,480 | XML |
| 990 | December 2023 | $301,132 | $254,098 | $266,835 | XML |
| 990 | December 2022 | $388,795 | $313,295 | $211,029 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990-EZ | December 2020 | – | – | – | IRS |
| 990-EZ | December 2019 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
| 990-N for 2017 Officer: David Peet Filed under this EIN, most likely by a chapter or affiliate | December 31, 2017 | ≤ $50,000 receipts | – | – | e-Postcard |
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 81-3938375).
Questions about TEAM DREA FOUNDATION INC
- What is the EIN of TEAM DREA FOUNDATION INC?
- The employer identification number (EIN) of TEAM DREA FOUNDATION INC is 81-3938375.
- Is TEAM DREA FOUNDATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2016.
- Are donations to TEAM DREA FOUNDATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does TEAM DREA FOUNDATION INC 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 TEAM DREA FOUNDATION INC 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 TEAM DREA FOUNDATION INC 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 TEAM DREA FOUNDATION INC?
- The 990 for the year ended December 31, 2024 names David Peet.
- Who are the officers and directors of TEAM DREA FOUNDATION INC?
- The 990 for the year ended December 31, 2024 lists 9 people; 0 received compensation from the organization.
- How much revenue does TEAM DREA FOUNDATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $264,352, expenses of $343,505 and total assets of $187,480 at year end.
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