Civic Intelligence

The Impossible Dream Inc

EIN 80-0969365 • 501(c)3 • New York, NY

Profile

To utilize impossible dream, a universally accessible 60' catamaran, to engage the global community and inspire people with disabilities, wounded soldiers, disadvantaged youth, and their families to improve their independence and quality of life.

50 West 47th St Ste 2113New York, NY 10036

www.theimpossibledream.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

92nd percentile

0.59x

Higher debt load relative to assets than 92% of similar nonprofits.

NTEE N67 • <$500k nonprofits • Source year 2025

Liabilities / Revenue

93rd percentile

0.56x

Higher debt load relative to revenue than 93% of similar nonprofits.

NTEE N67 • <$500k nonprofits • Source year 2025

Net Margin

76th percentile

16%

Higher net margin than 76% of similar nonprofits.

NTEE N67 • <$500k nonprofits • Source year 2025

Top Officer Pay

99th percentile

$67,040

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 19.2% of source-year revenue.

NTEE N67 • <$500k nonprofits • Source year 2025

Asset Growth

68th percentile

19%

Faster asset growth than 68% of similar nonprofits.

NTEE N67 • <$500k nonprofits • Annualized from 2024 to 2025

Revenue Growth

85th percentile

63%

Faster revenue growth than 85% of similar nonprofits.

NTEE N67 • <$500k nonprofits • Annualized from 2024 to 2025

Assets

Down

$278,228

Down $90,410 (-25%) from 2023

Liabilities

Down

$199,115

Down $10,222 (-4.9%) from 2023

Net Assets

Down

$79,113

Down $80,188 (-50%) from 2023

Revenue

Down

$214,397

Down $371,492 (-63%) from 2023

Expenses

Down

$294,585

Down $136,961 (-32%) from 2023

Net Income

Down

-$80,188

Down $234,531 (-152%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$400K$300K$200K$100K$0Assets 2015: $386,816Liabilities 2015: $16,230Net Assets 2015: $370,5862015Assets 2016: $305,128Liabilities 2016: $17,049Net Assets 2016: $288,0802016Assets 2017: $252,000Liabilities 2017: $13,653Net Assets 2017: $238,3472017Assets 2018: $211,096Liabilities 2018: $22,096Net Assets 2018: $189,0002018Assets 2019: $205,507Liabilities 2019: $96,211Net Assets 2019: $109,2962019Assets 2020: $215,208Liabilities 2020: $134,130Net Assets 2020: $81,0782020Assets 2021: $146,223Liabilities 2021: $121,356Net Assets 2021: $24,8672021Assets 2022: $243,331Liabilities 2022: $193,801Net Assets 2022: $49,5302022Assets 2023: $368,638Liabilities 2023: $209,337Net Assets 2023: $159,3012023Assets 2024: $278,228Liabilities 2024: $199,115Net Assets 2024: $79,1132024

Highlighted filing

2024

Assets$278,228
Liabilities$199,115
Net Assets$79,113

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2015: $166,345Expenses 2015: $275,872Net Income 2015: -$109,5272015Revenue 2016: $123,278Expenses 2016: $205,784Net Income 2016: -$82,5062016Revenue 2017: $147,148Expenses 2017: $196,881Net Income 2017: -$49,7332017Revenue 2018: $147,962Expenses 2018: $197,309Net Income 2018: -$49,3472018Revenue 2019: $187,873Expenses 2019: $267,577Net Income 2019: -$79,7042019Revenue 2020: $203,367Expenses 2020: $231,585Net Income 2020: -$28,2182020Revenue 2021: $142,108Expenses 2021: $198,319Net Income 2021: -$56,2112021Revenue 2022: $285,471Expenses 2022: $260,808Net Income 2022: $24,6632022Revenue 2023: $585,889Expenses 2023: $431,546Net Income 2023: $154,3432023Revenue 2024: $214,397Expenses 2024: $294,585Net Income 2024: -$80,1882024

Highlighted filing

2024

Revenue$214,397
Expenses$294,585
Net Income-$80,188

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 28, 2025
Return Version
2024v5.2
Gross Receipts
$215,943
Mission and Program Overview

Mission

To utilize impossible dream, a universally accessible 60' catamaran, to engage the global community and inspire people with disabilities, wounded soldiers, disadvantaged youth, and their families to improve their independence and quality of life

To utilize impossible dream, a universally accessible 60' catamaran, to engage global community and inspire people with disabilities, etc. Improve their independence and quality of life.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$227,323$170,550▼ $56,773
Rtn Earn Endowment Incm Other Fnds$159,301$79,113▼ $80,188
Cash and Non-Interest-Bearing Accounts$141,315$75,567▼ $65,748
Investments in Publicly Traded Securities-$32,059-
Savings and Temporary Cash Investments-$52-
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$368,638$278,228▼ $90,410
Liabilities
Unsecured Notes Loans Payable$192,400$192,400→ $0
Accounts Payable and Accrued Expenses$16,937$6,715▼ $10,222
Total Liabilities$209,337$199,115▼ $10,222
Net Assets / Fund Balance
Total Net Assets Fund Balance$159,301$79,113▼ $80,188
Total Liabilities and Net Assets / Fund Balance$368,638$278,228▼ $90,410

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$170,550$591,565$762,115
Other Land Buildings$0$5,364$5,364
Compensation and Service Providers

Employees

NameTitleBaseTotal
William ReyDirector$59,082$59,082
David MccauleyDirector$5,068$5,068

Board Members and Trustees

NameTitle
Deborah MellenChairwoman/CEO
Alan BrownDirector
Harry HorganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$199,437
Program Service Revenue
$0
Investment Income
$14,960
Other Revenue
$0
All Other Contributions
$199,437
Change in Net Assets
$-80,188

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$33,604Fair Market Value (FMV)
Total Noncash Contributions1$33,604-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$230,435
Salaries, Compensation, and Employee Benefits$64,150
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$94,277$5,357-$99,634
Current Officers, Directors, Trustees, and Key Employees$64,150--$64,150
Depreciation Depletion$59,519--$59,519
Other Expenses$26,686--$26,686
Insurance$14,288--$14,288
Fees for Services Accounting-$10,763-$10,763
Travel$8,034--$8,034
Interest$6,048--$6,048
Occupancy$4,491--$4,491
All Other Expenses-$972-$972
Total Functional Expenses$277,493$17,092$0$294,585
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
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, Section A, Line 6

Deborah mellen is the sole member of the organization.

Form 990, Part VI, Section A, Line 7A

The sole member of the foundation, deborah mellen, appoints the board of directors.

Form 990, Part VI, Section A, Line 8B

There are no committees of the board.

Form 990, Part VI, Section B, Line 11B

The foundation has its outside tax accountants prepare the form 990 in coordination with an officer of the foundation; the form 990 is reviewed by outside legal counsel, then sent to the members of the board of directors.

Form 990, Part VI, Section B, Line 12C

The foundation's conflict of interest policy requires officers and directors to disclose conflicts as they arise. Given the small size of the board and the simplicity of the foundation's operations, the foundation does not employ additional monitoring procedures beyond this disclosure requirement and thorough discussion at its board meetings. The foundation does not have written document retention and destruction policy, but it does maintain a complete record of grants and other transactions, including grant letters and other written material.

Form 990, Part VI, Section C, Line 19

The foundation will make its governing documents, conflict of interest policy, and financial statements available to the public upon request.

FORM 990, PART VII:

William rey, board member, is compensated in his capacity as full-time captain not as a board member. His compensation is reported on part ix, line 11g for these services.

Filing and Contact Details

Filer

Filer Name
The Impossible Dream Inc
EIN
80-0969365
Phone
2128320400
Address
50 WEST 47TH ST STE 2113, NEW YORK, NY 10036

Signing Officer

Name
Deborah Mellen
Title
Chairwoman
Phone
2128320400
Signed
2025-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Deborah Mellen
Formed
2014
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
4
Employees
0
Volunteers
0

Preparer

Firm
Citrin Cooperman Advisors LLC
Address
50 ROCKEFELLER PLAZA, NEW YORK, NY 10020
Preparer
Meyer Mintz
Phone
2126971000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Guest crew : program service expenses 94,277. Management and general expenses 0. Fundraising expenses 0. Total expenses 94,277. Professional fees: program service expenses 0. Management and general expenses 5,357. Fundraising expenses 0. Total expenses 5,357.

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IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE NUMBER OF ITEMS REPORTED IS EQUAL TO THE NUMBER OF DONORS OF SUCH ITEMS.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DEBORAH MELLEN IS THE SOLE MEMBER OF THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SOLE MEMBER OF THE FOUNDATION, DEBORAH MELLEN, APPOINTS THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THERE ARE NO COMMITTEES OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FOUNDATION HAS ITS OUTSIDE TAX ACCOUNTANTS PREPARE THE FORM 990 IN COORDINATION WITH AN OFFICER OF THE FOUNDATION; THE FORM 990 IS REVIEWED BY OUTSIDE LEGAL COUNSEL, THEN SENT TO THE MEMBERS OF THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FOUNDATION'S CONFLICT OF INTEREST POLICY REQUIRES OFFICERS AND DIRECTORS TO DISCLOSE CONFLICTS AS THEY ARISE. GIVEN THE SMALL SIZE OF THE BOARD AND THE SIMPLICITY OF THE FOUNDATION'S OPERATIONS, THE FOUNDATION DOES NOT EMPLOY ADDITIONAL MONITORING PROCEDURES BEYOND THIS DISCLOSURE REQUIREMENT AND THOROUGH DISCUSSION AT ITS BOARD MEETINGS. THE FOUNDATION DOES NOT HAVE WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY, BUT IT DOES MAINTAIN A COMPLETE RECORD OF GRANTS AND OTHER TRANSACTIONS, INCLUDING GRANT LETTERS AND OTHER WRITTEN MATERIAL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE FOUNDATION WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6WILLIAM REY, BOARD MEMBER, IS COMPENSATED IN HIS CAPACITY AS FULL-TIME CAPTAIN NOT AS A BOARD MEMBER. HIS COMPENSATION IS REPORTED ON PART IX, LINE 11G FOR THESE SERVICES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GUEST CREW : PROGRAM SERVICE EXPENSES 94,277. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 94,277. PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 5,357. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 5,357.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VII:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0368638
IRS990/TotalAssetsEOYAmt0278228
IRS990/TotalAssetsGrp/BOYAmt0368638
IRS990/TotalAssetsGrp/EOYAmt0278228
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0199437
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt017092
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0277493
IRS990/TotalFunctionalExpensesGrp/TotalAmt0294585
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0209337
IRS990/TotalLiabilitiesEOYAmt0199115
IRS990/TotalLiabilitiesGrp/BOYAmt0209337
IRS990/TotalLiabilitiesGrp/EOYAmt0199115
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0159301
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt079113
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0277493
IRS990/TotalReportableCompFromOrgAmt064150
IRS990/TotalRevenueGrp/ExclusionAmt014960
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0214397
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0368638
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0278228
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt08034
IRS990/TravelGrp/TotalAmt08034
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0192400
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0192400
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt050 WEST 47TH ST STE 2113
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010036
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0WWW.THEIMPOSSIBLEDREAM.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DEBORAH MELLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRWOMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02128320400
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE IMPOSSIBLE DREAM INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O MELLEN INC
ReturnHeader/Filer/BusinessNameControlTxt0IMPO
ReturnHeader/Filer/EIN0800969365
ReturnHeader/Filer/PhoneNum02128320400
ReturnHeader/Filer/USAddress/AddressLine1Txt050 WEST 47TH ST STE 2113
ReturnHeader/Filer/USAddress/CityNm0NEW YORK
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NY
ReturnHeader/Filer/USAddress/ZIPCd010036
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0872525370
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CITRIN COOPERMAN ADVISORS LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt050 ROCKEFELLER PLAZA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010020
ReturnHeader/PreparerPersonGrp/PhoneNum02126971000
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MEYER MINTZ
ReturnHeader/ReturnTs02025-11-04T10:48:33-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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