The Dream Center

EIN: 460942657 501(c)(3)

Iowa City, IA

Total Revenue
$2,350,596
Total Expenses
$414,374
Total Assets
$2,714,238
Net Assets
$2,154,635
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2012
Legal Domicile
IA
Phone
3195941044
Tax Period
2024-07-01 to 2025-06-30

The Dream Center, founded in 2012, is a community nonprofit that reported $2.4M in total revenue in fiscal year 2024. Revenue surged 681% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.9M, a strong 82% operating margin.

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 Service Accomplishments

Program 1
Expenses: $157,679 Revenue: $83,781

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...

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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.

Program 2
Expenses: $113,371 Revenue: $80,710

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...

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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.

Program 3
Expenses: $44,197

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...

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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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $2,328,600
Program Service Revenue $21,827
Investment Income $114
Other Revenue $55
TOTAL REVENUE $2,350,596

Expense Breakdown

Grants Paid $0
Salaries & Benefits $227,611
Fundraising Expenses $51,840
Program Expenses $320,910
Other Expenses $186,763
TOTAL EXPENSES $414,374

Year-over-Year Comparison

2024 2023 Change
Revenue $2,350,596 $300,851 +6.8%
Expenses $414,374 $165,806 +1.5%
Net Income $1,936,222 $135,045 +13.3%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
10
Independent Members
10
Employees
11
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$67,095
Total Directors
9
$67,095
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Fred Newell Executive Dir. 30.00
Officer Director
$67,095 $0 $67,095
Bob Goodfellow Chairman 3.00
Officer Director
$0 $0 $0
Aminata Taylor Treasurer 3.00
Officer Director
$0 $0 $0
Timothy McGinnes Director 2.00
Director
$0 $0 $0
Emily Dvorak Director 1.00
Director
$0 $0 $0
Julie Dancer Director 1.00
Director
$0 $0 $0
Terrance Thames Director 1.00
Officer Director
$0 $0 $0
Karyl Bohnsack Director 1.00
Director
$0 $0 $0
Kelby McClaran Director 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $2,350,596 $414,374 $2,714,238 $1,936,222
2024 $300,851 $165,806 $786,030 $135,045
2023 $206,088 $220,524 $53,866 $-14,436
2022 $256,594 $259,816 $68,302 $-3,222
2021 $234,652 $194,332 $71,524 $40,320
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