Civic Intelligence

The Impossible Dream Inc.

990 • Fiscal year 2020 • EIN 80-0969365

Jan 01, 2020 to Dec 31, 2020 • Filed on Jun 23, 2021

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

93rd percentile

0.62x

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

2020 filings • NTEE N67 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

92nd percentile

0.66x

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

2020 filings • NTEE N67 • <$500k nonprofits • Source year 2020

Net Margin

33rd percentile

-14%

Higher net margin than 33% of similar nonprofits.

2020 filings • NTEE N67 • <$500k nonprofits • Source year 2020

Top Officer Pay

95th percentile

$58,242

Higher top officer pay than 95% of similar nonprofits.

Top officer pay equals 28.6% of source-year revenue.

2020 filings • NTEE N67 • <$500k nonprofits • Source year 2020

Asset Growth

61st percentile

4.7%

Faster asset growth than 61% of similar nonprofits.

2020 filings • NTEE N67 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

89th percentile

8.2%

Faster revenue growth than 89% of similar nonprofits.

2020 filings • NTEE N67 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$215,208

Up $9,701 (+4.7%) from 2019

Net Assets

Down

$81,078

Down $28,218 (-26%) from 2019

Liabilities

Up

$134,130

Up $37,919 (+39%) from 2019

Revenue And Expenses
Liabilities / Revenue92nd percentileNet Margin33rd percentile

Revenue

Up

$203,367

Up $15,494 (+8.2%) from 2019

Expenses

Down

$231,585

Down $35,992 (-13%) from 2019

Net Income

Up

-$28,218

Up $51,486 (+65%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth61st 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

2020

Assets$215,208
Liabilities$134,130
Net Assets$81,078
Open 2020 Filing

Operations Trend

Revenue Growth89th 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

2020

Revenue$203,367
Expenses$231,585
Net Income-$28,218
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Jun 23, 2021
Return Version
2020v4.1
Gross Receipts
$203,367
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$155,105$120,655▼ $34,450
Cash and Non-Interest-Bearing Accounts$50,402$94,553▲ $44,151
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-90,704$-118,922▼ $28,218
Total Assets$205,507$215,208▲ $9,701
Liabilities
Unsecured Notes Loans Payable$55,000$100,000▲ $45,000
Accounts Payable and Accrued Expenses$41,211$34,130▼ $7,081
Total Liabilities$96,211$134,130▲ $37,919
Net Assets / Fund Balance
Total Net Assets Fund Balance$109,296$81,078▼ $28,218
Total Liabilities and Net Assets / Fund Balance$205,507$215,208▲ $9,701

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$120,655$405,302$525,957
Other Land Buildings$0$5,364$5,364
Compensation and Service Providers
Top Officer Pay95th percentile

Employees

NameTitleBaseTotal
William ReyBoard Member$58,242$58,242

Board Members and Trustees

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

Revenue Composition

Contributions and Grants
$203,367
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$203,367
Change in Net Assets
$-28,218
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$231,585
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$58,242--$58,242
Depreciation Depletion$34,450--$34,450
Insurance$10,613--$10,613
Interest$1,821--$1,821
Other Expenses$408--$408
Total Functional Expenses$231,585$0$0$231,585
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
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
2021-06-23
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 58,242. Management and general expenses 0. Fundraising expenses 0. Total expenses 58,242.”

Raw XML Appendix340 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 58,242. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 58,242.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0FL
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0205507
IRS990/TotalAssetsEOYAmt0215208
IRS990/TotalAssetsGrp/BOYAmt0205507
IRS990/TotalAssetsGrp/EOYAmt0215208
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0203367
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0231585
IRS990/TotalFunctionalExpensesGrp/TotalAmt0231585
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt096211
IRS990/TotalLiabilitiesEOYAmt0134130
IRS990/TotalLiabilitiesGrp/BOYAmt096211
IRS990/TotalLiabilitiesGrp/EOYAmt0134130
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0109296
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt081078
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0231585
IRS990/TotalReportableCompFromOrgAmt058242
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0203367
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0205507
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0215208
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt055000
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0100000
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt050 WEST 47TH ST STE 2113
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010036
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0WWW.THEIMPOSSIBLEDREAM.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0DEBORAH MELLEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAIRWOMAN
ReturnHeader/BusinessOfficerGrp/PhoneNum02128320400
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-06-23
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/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/ReturnTs02021-06-25T11:10:27-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0DEBORAH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0MELLEN
ReturnHeader/TaxPeriodBeginDt02020-01-01
ReturnHeader/TaxPeriodEndDt02020-12-31
ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$215,208
Liabilities
$134,130
Net assets
$81,078
Revenue
$203,367
Expenses
$231,585
Net income
-$28,218
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