DREAM CENTER OF HAMPTON ROADS

EIN: 861251255 501(c)(3) Human Services

VIRGINIA BEACH, VA

Total Revenue
$499,587
Total Expenses
$530,764
Total Assets
$28,375
Net Assets
$27,588
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
VA
Principal Officer
KEVIN TURPIN
Phone
7572276930
Tax Period
2022-01-01 to 2022-12-31

DREAM CENTER OF HAMPTON ROADS, founded in 2020, is a small nonprofit in the Human Services sector that reported $272K in total revenue in fiscal year 2021. Expenses of $251K left a modest 7% surplus.

Mission

A COMMUNITY DEVELOPMENT BASED OUTREACH THAT SEEKS TO ELIMINATE OR GREATLY REDUCE THE BARRIERS TO SUCCESS FOR THE IMPOVERISHED, UNDERPRIVILEGED, AND MARGINALIZED.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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

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Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $472,533
Program Service Revenue $27,054
Investment Income $0
Other Revenue $0
TOTAL REVENUE $499,587

Expense Breakdown

Grants Paid $0
Salaries & Benefits $52,251
Fundraising Expenses $1,573
Program Expenses $487,005
Other Expenses $478,513
TOTAL EXPENSES $530,764

Year-over-Year Comparison

2022 2021 Change
Revenue $499,587 $271,619 +0.8%
Expenses $530,764 $251,279 +1.1%
Net Income $-31,177 $20,340 -2.5%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
6
Employees
2
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
1
$0
Total Directors
6
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAN BACKENS DIRECTOR 5.00
Director
$0 $0 $0
SANDRA CHRISTMAS DIRECTOR 5.00
Director
$0 $0 $0
PATRICIA KING DIRECTOR 5.00
Director
$0 $0 $0
JACKIE KOON TREASURER 5.00
Officer Director
$0 $0 $0
SEQUOIA OWENS DIRECTOR 5.00
Director
$0 $0 $0
KEVIN TURPIN PRESIDENT 20.00
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
2022 $499,587 $530,764 $28,375 $-31,177
2021 $271,619 $251,279 $58,765 $20,340
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