Civic Intelligence

The Impossible Dream Inc.

990 • Fiscal year 2018 • EIN 80-0969365

Jan 01, 2018 to Dec 31, 2018 • Filed on Jul 25, 2019

Organization ProfileWWW.THEIMPOSSIBLEDREAM.ORG
50 West 47th St Ste 2113New York, NY 10036

(212) 832-0400

Siviq Scores

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

Liabilities / Assets

83rd percentile

0.10x

Higher debt load relative to assets than 83% of similar nonprofits.

2018 filings • NTEE N • <$500k nonprofits • Source year 2018

Liabilities / Revenue

89th percentile

0.15x

Higher debt load relative to revenue than 89% of similar nonprofits.

2018 filings • NTEE N • <$500k nonprofits • Source year 2018

Net Margin

8th percentile

-33%

Higher net margin than 8% of similar nonprofits.

2018 filings • NTEE N67 • <$500k nonprofits • Source year 2018

Top Officer Pay

99th percentile

$66,000

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 44.6% of source-year revenue.

2018 filings • NTEE N • <$500k nonprofits • Source year 2018

Asset Growth

20th percentile

-16%

Faster asset growth than 20% of similar nonprofits.

2018 filings • NTEE N • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

50th percentile

0.6%

Faster revenue growth than 50% of similar nonprofits.

2018 filings • NTEE N • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / Assets83rd percentile

Assets

Down

$211,096

Down $40,904 (-16%) from 2017

Net Assets

Down

$189,000

Down $49,347 (-21%) from 2017

Liabilities

Up

$22,096

Up $8,443 (+62%) from 2017

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin8th percentile

Revenue

Up

$147,962

Up $814 (+0.6%) from 2017

Expenses

Up

$197,309

Up $428 (+0.2%) from 2017

Net Income

Up

-$49,347

Up $386 (+0.8%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth20th percentile

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

$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

2018

Assets$211,096
Liabilities$22,096
Net Assets$189,000
Open 2018 Filing

Operations Trend

Revenue Growth50th percentile

Revenue, expenses, and net income across loaded years, with this 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

2018

Revenue$147,962
Expenses$197,309
Net Income-$49,347
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Jul 25, 2019
Return Version
2018v3.1
Gross Receipts
$147,962
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
Pd in Cap Srpls Land Bldg Eqp Fund$200,000$200,000→ $0
Land, Buildings, and Equipment, Net$243,288$194,177▼ $49,111
Cash and Non-Interest-Bearing Accounts$8,712$16,919▲ $8,207
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$38,347$-11,000▼ $49,347
Total Assets$252,000$211,096▼ $40,904
Liabilities
Accounts Payable and Accrued Expenses$13,653$22,096▲ $8,443
Total Liabilities$13,653$22,096▲ $8,443
Net Assets / Fund Balance
Total Net Assets Fund Balance$238,347$189,000▼ $49,347
Total Liabilities and Net Assets / Fund Balance$252,000$211,096▼ $40,904

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$193,868$332,089$525,957
Other Land Buildings$309$5,055$5,364
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleBaseTotal
William ReyBoard Member$66,000$66,000

Board Members and Trustees

NameTitle
Deborah MellenChairwoman/CEO
Alan BrownBoard Member
David MccauleyBoard Member
Harry HorganTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$147,962
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$147,962
Change in Net Assets
$-49,347
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$197,309
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 Other$66,000--$66,000
Depreciation Depletion$49,111--$49,111
Insurance$16,106--$16,106
Other Expenses$989--$989
Total Functional Expenses$197,309$0$0$197,309
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 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
No

Governance Explanations

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

“As sole member of the foundation, the impossible dream, inc. Elects 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 B, Line 15

“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.”

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 is available on the guidestar website (www.guidestar.org).”

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
2019-07-25
Discuss with paid preparer
Yes

Organization Details

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

Preparer

Firm
Berdon Llp
Address
360 MADISON AVENUE, NEW YORK, NY 10017
Preparer
Meyer Mintz
Phone
2128320400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Captain: program service expenses 66,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 66,000.”

Raw XML Appendix336 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0AS SOLE MEMBER OF THE FOUNDATION, THE IMPOSSIBLE DREAM, INC. ELECTS THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THERE ARE NO COMMITTEES OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 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/ExplanationTxt3THE 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/ExplanationTxt4WILLIAM 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/ExplanationTxt5THE FOUNDATION WILL MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990 IS AVAILABLE ON THE GUIDESTAR WEBSITE (WWW.GUIDESTAR.ORG).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CAPTAIN: PROGRAM SERVICE EXPENSES 66,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 66,000.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
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IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0252000
IRS990/TotalAssetsEOYAmt0211096
IRS990/TotalAssetsGrp/BOYAmt0252000
IRS990/TotalAssetsGrp/EOYAmt0211096
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0147962
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0197309
IRS990/TotalFunctionalExpensesGrp/TotalAmt0197309
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt013653
IRS990/TotalLiabilitiesEOYAmt022096
IRS990/TotalLiabilitiesGrp/BOYAmt013653
IRS990/TotalLiabilitiesGrp/EOYAmt022096
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0238347
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0189000
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0197309
IRS990/TotalReportableCompFromOrgAmt066000
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0147962
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
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IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0211096
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
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IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010036
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.THEIMPOSSIBLEDREAM.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-04-17 16:48:07Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DEBORAH MELLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRWOMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02128320400
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-07-25
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE IMPOSSIBLE DREAM INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0C/O BEN MELLEN AND SONS
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/FilingSecurityInformation/AtSubmissionCreationDeviceId0DA39A3EE5E6B4B0D3255BFEF95601890AFD80709
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0696872903D1F0F71AC38CAAB6DCC4F1006824F48
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt072.22.173.199
ReturnHeader/FilingSecurityInformation/IPDt02019-07-25
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm008:53:32
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0130485070
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BERDON LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0360 MADISON AVENUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NEW YORK
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd010017
ReturnHeader/PreparerPersonGrp/PhoneNum02128320400
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0MEYER MINTZ
ReturnHeader/ReturnTs02019-11-15T14:22:44-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-12-31
ReturnHeader/TaxYr02018

Document Assets

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Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$211,096
Liabilities
$22,096
Net assets
$189,000
Revenue
$147,962
Expenses
$197,309
Net income
-$49,347
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.78$1.99$0.79$2.14$2.95$0.80
2023Detailed filing. Detailed filing data is available for this year.$3.69$2.09$1.59$5.86$4.32$1.54
2022Detailed filing. Detailed filing data is available for this year.$2.43$1.94$0.50$2.85$2.61$0.25
2021Detailed filing. Detailed filing data is available for this year.$1.46$1.21$0.25$1.42$1.98$0.56
2020Detailed filing. Detailed filing data is available for this year.$2.15$1.34$0.81$2.03$2.32$0.28
2019Detailed filing. Detailed filing data is available for this year.$2.06$0.96$1.09$1.88$2.68$0.80
2018Detailed filing. Detailed filing data is available for this year.$2.11$0.22$1.89$1.48$1.97$0.49
2017Detailed filing. Detailed filing data is available for this year.$2.52$0.14$2.38$1.47$1.97$0.50
2016Summary only. Only limited summary data is available for this year.$3.05$0.17$2.88$1.23$2.06$0.83
2015Summary only. Only limited summary data is available for this year.$3.87$0.16$3.71$1.66$2.76$1.10