Civic Intelligence

Dream Schools Inc

990 • Fiscal year 2014 • EIN 20-4657268

Jan 01, 2014 to Dec 31, 2014 • Filed on Nov 16, 2015

Organization ProfileN/A
1530 Westerly ParkwayState College, PA 16801

(814) 237-9727

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.78x

Higher debt load relative to assets than 87% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Liabilities / Revenue

97th percentile

8.22x

Higher debt load relative to revenue than 97% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Net Margin

99th percentile

99%

Higher net margin than 99% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2014

Asset Growth

36th percentile

-1.2%

Faster asset growth than 36% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Revenue Growth

93rd percentile

99%

Faster revenue growth than 93% of similar nonprofits.

2014 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets87th percentile

Assets

Flat

$4,048,389

Flat from 2014

Net Assets

Flat

$873,695

Flat from 2014

Liabilities

Flat

$3,174,694

Flat from 2014

Revenue And Expenses
Liabilities / Revenue97th percentileNet Margin99th percentile

Revenue

Flat

$386,355

Flat from 2014

Expenses

Flat

$2,857

Flat from 2014

Net Income

Flat

$383,498

Flat from 2014

Historical Trend

Balance Sheet Trend

Asset Growth36th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$15M$10M$5.0M$0Assets 2011: $3,439,235Liabilities 2011: $2,947,407Net Assets 2011: $491,8282011Assets 2012: $4,119,159Liabilities 2012: $3,644,411Net Assets 2012: $474,7482012Assets 2013: $4,098,569Liabilities 2013: $3,478,971Net Assets 2013: $619,5982013Assets 2014: $4,048,389Liabilities 2014: $3,174,694Net Assets 2014: $873,6952014Assets 2014: $4,048,389Liabilities 2014: $3,174,694Net Assets 2014: $873,6952014Assets 2015: $4,137,401Liabilities 2015: $2,880,585Net Assets 2015: $1,256,8162015Assets 2016: $6,712,632Liabilities 2016: $5,287,384Net Assets 2016: $1,425,2482016Assets 2017: $6,273,180Liabilities 2017: $4,291,514Net Assets 2017: $1,981,6662017Assets 2018: $6,509,499Liabilities 2018: $3,938,214Net Assets 2018: $2,571,2852018Assets 2019: $7,112,513Liabilities 2019: $3,739,733Net Assets 2019: $3,372,7802019Assets 2020: $9,018,089Liabilities 2020: $5,061,614Net Assets 2020: $3,956,4752020Assets 2021: $9,830,483Liabilities 2021: $5,216,161Net Assets 2021: $4,614,3222021Assets 2022: $10,201,973Liabilities 2022: $4,812,683Net Assets 2022: $5,389,2902022Assets 2023: $10,467,826Liabilities 2023: $4,040,386Net Assets 2023: $6,427,4402023

Highlighted filing

2014

Assets$4,048,389
Liabilities$3,174,694
Net Assets$873,695
Open 2014 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0Expenses 2011: $48,6292011Expenses 2012: $38,9292012Revenue 2013: $193,881Expenses 2013: $49,031Net Income 2013: $144,8502013Revenue 2014: $386,355Expenses 2014: $2,857Net Income 2014: $383,4982014Revenue 2014: $386,355Expenses 2014: $2,857Net Income 2014: $383,4982014Revenue 2015: $397,903Expenses 2015: $14,782Net Income 2015: $383,1212015Revenue 2016: $210,034Expenses 2016: $41,602Net Income 2016: $168,4322016Revenue 2017: $364,896Expenses 2017: $0Net Income 2017: $364,8962017Revenue 2018: $547,323Expenses 2018: $19,205Net Income 2018: $528,1182018Revenue 2019: $812,149Expenses 2019: $10,654Net Income 2019: $801,4952019Revenue 2020: $594,756Expenses 2020: $11,061Net Income 2020: $583,6952020Revenue 2021: $669,247Expenses 2021: $11,400Net Income 2021: $657,8472021Revenue 2022: $786,968Expenses 2022: $12,000Net Income 2022: $774,9682022Revenue 2023: $1,047,935Expenses 2023: $9,785Net Income 2023: $1,038,1502023

Highlighted filing

2014

Revenue$386,355
Expenses$2,857
Net Income$383,498
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
Nov 16, 2015
Return Version
2014v5.0
Gross Receipts
$632,200
Mission and Program Overview

Mission

To provide rental and other occupational services to non-profit charter schools and organizations.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$3,986,347$3,658,451▼ $327,896
Other Notes and Loans Receivable, Net$109,200$110,450▲ $1,250
Cash and Non-Interest-Bearing Accounts$606$7,203▲ $6,597
Savings and Temporary Cash Investments$2,416$0▼ $2,416
Accounts Receivable-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$3,969,168$4,048,389▲ $79,221
Other Assets Total$-129,401$272,285▲ $401,686
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,640,637$2,487,461▼ $153,176
Unsecured Notes Loans Payable$838,066--
Other Liabilities$268$687,110▲ $686,842
Accounts Payable and Accrued Expenses-$123-
Total Liabilities$3,478,971$3,174,694▼ $304,277
Net Assets / Fund Balance
Unrestricted Net Assets$490,197$873,695▲ $383,498
Total Net Assets Fund Balance$490,197$873,695▲ $383,498
Total Liabilities and Net Assets / Fund Balance$3,969,168$4,048,389▲ $79,221

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,278,296$495,191$2,773,487
Leasehold Improvements$700,155$37,272$737,427
Land$680,000-$680,000
Other Assets Org$23,582--
Compensation and Service Providers
Top Officer Pay34th percentile

Board Members and Trustees

NameTitle
Hasan OzcanPresident
Sait OnalSecretary
Yasin KucakTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$181,875
Other Revenue
$204,480
Change in Net Assets
$383,498
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,857
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting$726--$726
Insurance$527--$527
Other Expenses$54--$54
Total Functional Expenses$2,857$0$0$2,857
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Affiliate$687,110
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
No
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 11B: Form 990 Review Process

“The form 990 return is reviewed by board members prior to the filing of the return.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“Government documentation, policies and financial statements of dream schools, inc., are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Dream Schools Inc
EIN
20-4657268
Phone
8142379727
Address
1530 WESTERLY PARKWAY, STATE COLLEGE, PA 16801

Signing Officer

Name
Hasan Ozcan
Title
President
Signed
2015-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Hasan Ozcan
Formed
2007
Legal Domicile
Pa
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
Barre & Company
Address
2204 MORRIS AVE STE 206, UNION, NJ 07083-5914
Preparer
Richard Barre
Phone
9086863484
Supplemental Narrative

Additional Explanations

Prior Year Adjustment

“The beginning of year unrestricted net assets has been restated to correct prior year errors in property and equipment, accumulated depreciation, and accumulated amortization. The end result was a reduction in the beginning of year unrestricted net assets from $619,598 as reported on the 2013 form 990 return, to $490,197 which is reflected on the current year form 990 return.”

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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0254626
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0311252
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0310200
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt01952124
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IRS990ScheduleD/BuildingsGrp/DepreciationAmt0495191
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02773487
IRS990ScheduleD/LandGrp/BookValueAmt0680000
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0680000
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt0700155
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt037272
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0737427
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0248703
IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt123582
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0INVESTMENT IN AFFILIATE
IRS990ScheduleD/OtherAssetsOrgGrp/Desc1LOAN CLOSING COSTS NET OF ACCUM AMORT
IRS990ScheduleD/OtherAssetsOrgGrp/Desc2PRIOR YEAR ADJUSTMENT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0687110
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO AFFILIATE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt03658451
IRS990ScheduleD/TotalBookValueOtherAssetsAmt0272285
IRS990ScheduleD/TotalLiabilityAmt0687110
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 RETURN IS REVIEWED BY BOARD MEMBERS PRIOR TO THE FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1GOVERNMENT DOCUMENTATION, POLICIES AND FINANCIAL STATEMENTS OF DREAM SCHOOLS, INC., ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BEGINNING OF YEAR UNRESTRICTED NET ASSETS HAS BEEN RESTATED TO CORRECT PRIOR YEAR ERRORS IN PROPERTY AND EQUIPMENT, ACCUMULATED DEPRECIATION, AND ACCUMULATED AMORTIZATION. THE END RESULT WAS A REDUCTION IN THE BEGINNING OF YEAR UNRESTRICTED NET ASSETS FROM $619,598 AS REPORTED ON THE 2013 FORM 990 RETURN, TO $490,197 WHICH IS REFLECTED ON THE CURRENT YEAR FORM 990 RETURN.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2PRIOR YEAR ADJUSTMENT
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IRS990ScheduleR/AssetSaleToOtherOrgInd0false
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0DREAM SCHOOLS INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0NEWPORT DRIVE PROPERTIES
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0274373603
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(25)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0RENTAL SERVICE TO NONPROFIT ORGANIZATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt01105 BALKAN DRIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PITTSBURGH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0PA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd015239
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IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
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IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
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IRS990/TravelGrp/TotalAmt00
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IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0838066
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01530 WESTERLY PARKWAY
IRS990/USAddress/CityNm0STATE COLLEGE
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IRS990/USAddress/ZIPCd016801
IRS990/VotingMembersGoverningBodyCnt03
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IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-03-07 17:11:31Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0HASAN OZCAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-11-16
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DREAM SCHOOLS INC
ReturnHeader/Filer/BusinessNameControlTxt0DREA
ReturnHeader/Filer/EIN0204657268
ReturnHeader/Filer/PhoneNum08142379727
ReturnHeader/Filer/USAddress/AddressLine1Txt01530 WESTERLY PARKWAY

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,048,389
Liabilities
$3,174,694
Net assets
$873,695
Revenue
$386,355
Expenses
$2,857
Net income
$383,498
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023Summary only. Only limited summary data is available for this year.$10.5$4.04$6.43$1.05$0.01$1.04
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$10.2$4.81$5.39$0.79$0.01$0.77
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.83$5.22$4.61$0.67$0.01$0.66
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.02$5.06$3.96$0.59$0.01$0.58
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.11$3.74$3.37$0.81$0.01$0.80
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.51$3.94$2.57$0.55$0.02$0.53
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.27$4.29$1.98$0.36$0.00$0.36
2016Summary only. Only limited summary data is available for this year.$6.71$5.29$1.43$0.21$0.04$0.17
2015Detailed filing. Detailed filing data is available for this year.$4.14$2.88$1.26$0.40$0.01$0.38
2014Detailed filing. Detailed filing data is available for this year.$4.05$3.17$0.87$0.39$0.00$0.38
2014Summary only. Only limited summary data is available for this year.$4.05$3.17$0.87$0.39$0.00$0.38
2013Detailed filing. Detailed filing data is available for this year.$4.10$3.48$0.62$0.19$0.05$0.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.12$3.64$0.47$0.04
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.44$2.95$0.49$0.05