Civic Intelligence

Dream Charter School

990 • Fiscal year 2014 • EIN 26-1841386

Jul 01, 2013 to Jun 30, 2014 • Filed on Feb 09, 2015

333 East 100th Street Ground Floor10029

(212) 722-1608

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.09x

Higher debt load relative to assets than 33% of similar nonprofits.

2014 filings • NTEE B • $5M-$10M nonprofits • Source year 2014

Liabilities / Revenue

15th percentile

0.02x

Higher debt load relative to revenue than 15% of similar nonprofits.

2014 filings • NTEE B • $5M-$10M nonprofits • Source year 2014

Net Margin

18th percentile

-6.0%

Higher net margin than 18% of similar nonprofits.

2014 filings • NTEE B • $5M-$10M nonprofits • Source year 2014

Top Officer Pay

94th percentile

$325,370

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 5.0% of source-year revenue.

2014 filings • NTEE B • $5M-$10M nonprofits • Source year 2014

Asset Growth

5th percentile

-19%

Faster asset growth than 5% of similar nonprofits.

2014 filings • NTEE B • $5M-$10M nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$1,534,062

Down $369,589 (-19%) from 2013

Net Assets

Down

$1,388,894

Down $383,999 (-22%) from 2013

Liabilities

Up

$145,168

Up $14,410 (+11%) from 2013

Revenue

$6,494,017

No earlier filing loaded for comparison.

Expenses

Up

$6,881,414

Up $1,432,457 (+26%) from 2013

Net Income

-$387,397

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2013: $1,903,651Liabilities 2013: $130,758Net Assets 2013: $1,772,8932013Assets 2014: $1,534,062Liabilities 2014: $145,168Net Assets 2014: $1,388,8942014Assets 2015: $1,360,910Liabilities 2015: $196,145Net Assets 2015: $1,164,7652015Assets 2016: $1,539,871Liabilities 2016: $146,562Net Assets 2016: $1,393,3092016Assets 2017: $2,150,249Liabilities 2017: $560,636Net Assets 2017: $1,589,6132017Assets 2018: $2,414,999Liabilities 2018: $668,575Net Assets 2018: $1,746,4242018Assets 2020: $6,916,243Liabilities 2020: $3,221,469Net Assets 2020: $3,694,7742020Assets 2021: $10,400,042Liabilities 2021: $1,273,963Net Assets 2021: $9,126,0792021Assets 2022: $9,734,616Liabilities 2022: $689,523Net Assets 2022: $9,045,0932022

Highlighted filing

2014

Assets$1,534,062
Liabilities$145,168
Net Assets$1,388,894

Operations Trend

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

$40M$30M$20M$10M$0-$10MExpenses 2013: $5,448,9572013Revenue 2014: $6,494,017Expenses 2014: $6,881,414Net Income 2014: -$387,3972014Revenue 2015: $7,470,272Expenses 2015: $7,694,401Net Income 2015: -$224,1292015Revenue 2016: $9,539,606Expenses 2016: $9,311,062Net Income 2016: $228,5442016Revenue 2017: $10,335,972Expenses 2017: $10,139,668Net Income 2017: $196,3042017Revenue 2018: $14,571,305Expenses 2018: $14,412,810Net Income 2018: $158,4952018Revenue 2020: $20,550,855Expenses 2020: $19,899,749Net Income 2020: $651,1062020Revenue 2021: $29,990,882Expenses 2021: $24,559,577Net Income 2021: $5,431,3052021Revenue 2022: $33,701,299Expenses 2022: $33,782,285Net Income 2022: -$80,9862022

Highlighted filing

2014

Revenue$6,494,017
Expenses$6,881,414
Net Income-$387,397
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
Feb 9, 2015
Return Version
2013v4.0
Gross Receipts
$8,278,865
Mission and Program Overview

Mission

DREAM Charter School's mission is to prepare students for high-performing high schools, colleges and beyond. A rigorous academic program develops critical thinkers who demonstrate a love of learning, strong character and a commitment to wellness and active citizenship. DREAM Charter School inspires all students to recognize their potential and realize their dreams.

Our mission is to prepare students for high-performing high schools, colleges and beyond through a rigorous academic program that develops critical thinkers who demonstrate a love of learning, strong character, and a commitment to wellness and active citizenship.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$635,671$716,253▲ $80,582
Investments in Publicly Traded Securities$298,188$247,000▼ $51,188
Pledges and Grants Receivable$460,000$234,821▼ $225,179
Land, Buildings, and Equipment, Net$162,265$230,840▲ $68,575
Prepaid Expenses and Deferred Charges$61,998$39,182▼ $22,816
Accounts Receivable$19,018$35,988▲ $16,970
Savings and Temporary Cash Investments$266,511$29,978▼ $236,533
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$1,903,651$1,534,062▼ $369,589
Other Assets Total-$0-
Liabilities
Other Liabilities$70,089$82,637▲ $12,548
Accounts Payable and Accrued Expenses$59,774$62,531▲ $2,757
Deferred Revenue$895--
Total Liabilities$130,758$145,168▲ $14,410
Net Assets / Fund Balance
Unrestricted Net Assets$1,289,163$1,188,399▼ $100,764
Temporarily Rstr Net Assets$483,730$200,495▼ $283,235
Total Net Assets Fund Balance$1,772,893$1,388,894▼ $383,999
Total Liabilities and Net Assets / Fund Balance$1,903,651$1,534,062▼ $369,589

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$119,173$178,876$298,049
Other Land Buildings$73,038$104,824$177,862
Leasehold Improvements$38,629$61,013$99,642
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Eve ColavitoPrincipalFT$149,807$17,476$167,283
Emilia Macias-CapellanAcademic DeanFT$117,737$21,022$138,759
Jacqueline FreyDirector of Spec EdFT$118,872$17,302$136,174
Traci DouglasDirector of OperationsFT$99,249$11,143$110,392
Robin RubensteinElem School DirectorFT$98,304$6,808$105,112

Board Members and Trustees

NameTitle
Richard BerlinChairman
Michele JoergVice President
David KirschDirector
Jacqueline VallejoDirector
Jonathan SchmerinDirector
Claudia ZeldinSecretary
Ashish DoshiTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$6,472,826
Program Service Revenue
$0
Investment Income
$10,714
Other Revenue
$10,477
All Other Contributions
$494,088
Change in Net Assets
$-387,397

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,494,017
Revenue Not Reported on Form 990
$406,548
Total Revenue per Audited Statements
$6,900,565
Total Revenue per Form 990
$6,494,017
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$4,855,643
Other Expenses$2,025,771
Total Fundraising Expense$103,749
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,719,556$204,953-$3,924,509
Other Employee Benefits$393,646$20,718-$414,364
All Other Expenses$327,769$29,457-$357,226
Payroll Taxes$299,966$15,788-$315,754
Current Officers, Directors, Trustees, and Key Employees$174,557--$174,557
Other Expenses$107,367$19,583$103,749$107,367
Depreciation Depletion$80,570$4,240-$84,810
Insurance$25,336$1,283-$26,619
Pension Plan Contributions$25,136$1,323-$26,459
Total Functional Expenses$5,838,853$938,812$103,749$6,881,414

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$7,284,564
Expenses per Audited Statements$6,881,414
Total Expenses per Form 990$6,881,414
Expenses Not Reported on Form 990$403,150
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 Institutional Partner$57,062
Refundable Advance$25,575
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

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

Management reviewed a draft of the form 990 with the audit/finance committee and provided edits to the tax preparer. After this process was performed, the form 990 was sent to the full board of directors prior to being filed with the IRS.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

The organization has a "board approved" conflicts of interest policy. Each board member must fill out an annual declaration stating they had no conflicts or identifying the nature of their interested party transactions.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Each year, the executive committee reviews comparable salaries based on a recognized study and reviews the performance of the executive director to determine if the existing salary falls within these ranges. After a deliberation of this matter, a new proposed salary and benefit package is voted on. The minutes of the board of directors reflect the nature of this process.

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

These documents are available upon request.

Filing and Contact Details

Filer

EIN
26-1841386
Phone
2127221608

Signing Officer

Name
Richard Berlin
Title
Chairman
Signed
2015-02-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Berlin
Formed
2008
Legal Domicile
Ny
Voting Board Members
7
Independent Board Members
6
Employees
111
Volunteers
100

Preparer

Preparer
David C Ashenfarb
Phone
2122682800
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

The School does not believe its financial statements include any material, uncertain tax positions. Tax returns for periods ending June 30, 2011 and later are subject to examination by applicable taxing authorities.

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IRS990/Form990PartVIISectionAGrp/TitleTxt4Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Principal
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IRS990/MissionDesc0DREAM Charter School's mission is to prepare students for high-performing high schools, colleges and beyond through a rigorous academic program that develops critical thinkers who demonstrate a love of learning, strong character, and a commitment to wellness and active citizenship. DREAM Charter School inspires all students to recognize their potential and realize their dreams.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0The School does not believe its financial statements include any material, uncertain tax positions. Tax returns for periods ending June 30, 2011 and later are subject to examination by applicable taxing authorities.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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