2024-10-29T11:56:59-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 6501 AMERICAS PARKWAY NE SUITE 500 ALBUQUERQUE NM 87110 990 2023-01-01 850417347 DREAMSPRING DREA 5052438844 2000 ZEARING AVENUE NW ALBUQUERQUE NM 87104 SUZETTE M LONGFELLOW CFO 5052438844 2024-10-28 1 1 JESSICA LOCKER CPA P01367046 5058428290 2024-10-28 2023 2024-10-15 13:58:12Z SUZETTE M LONGFELLOW 2000 ZEARING AVENUE NW ALBUQUERQUE NM 87104 15047365 0 X WWW.DREAMSPRING.ORG X 1994 NM DREAMSPRING IS A NONPROFIT COMMUNITY DEVELOPMENT FINANCIAL INSTITUTION (CDFI) AND U.S. SMALL BUSINESS ADMINISTRATION (SBA) LENDER DEDICATED TO ACCELERATING THE ECONOMIC INCLUSION AND STRENGTH OF UNDERSERVED COMMUNITIES. FOUNDED IN 1994, THE ORGANIZATION PROVIDES RAPID ACCESS TO CAPITAL AND CUSTOMIZED WRAP-AROUND SUPPORT TO THE MOST VULNERABLE SMALL BUSINESS OWNERS IN 27 STATES, FOCUSING ON COMMUNITIES INCLUDING PEOPLE OFCOLOR, WOMEN, LOW- TO MODERATE-INCOME EARNERS, PEOPLE WITH DISABILITIES, AND START-UPS. 10 10 70 15 0 0 7822206 5286403 17871900 9018992 60881 273126 112940 96303 25867927 14674824 0 0 0 0 5897826 6068177 0 0 947513 14252538 17055455 20150364 23123632 5717563 -8448808 95789629 72311430 58236884 47631443 37552745 24679987 DREAMSPRING INCREASES ACCESS TO BUSINESS CREDIT, MAKES LOANS AND PROVIDES TRAINING WHICH ENABLE UNDERSERVED ENTREPRENEURS TO REALIZE THEIR DREAMS AND BE CATALYSTS FOR POSITIVE ECONOMIC AND SOCIAL CHANGE. 0 0 21170115 0 9115295 DREAMSPRING PROVIDES TOOLS TO HELP SMALL BUSINESSES OPERATE, GROW OR START THEIR BUSINESS. WE INCREASE ACCESS TO BUSINESS CREDIT, MAKE LOANS AND PROVIDE TRAINING TO HELP ENTREPRENEURS THRIVE. IN 2023 DREAMSPRING MADE 1,578 LOANS, FOR $23.97 MILLION, THAT CREATED OR SUSTAINED 4,138 JOBS. 21170115 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 48 0 1 70 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA CO FL KS NV NM OH OK WA X X ANALISA ANAYA SMITH 5052438844 2000 ZEARING AVE NW ALBUQUERQUE NM 87104 EDMOND JOHNSON CHAIR 2.00 0.00 X X 0 0 0 VIRGINIA BAYLESS TREASURER 2.00 0.00 X X 0 0 0 YASHODA NAIDOO SECRETARY 2.00 0.00 X X 0 0 0 ANTHONY SHARETT VICE CHAIR 2.00 0.00 X X 0 0 0 BILL RIDENOUR DIRECTOR 2.00 0.00 X 0 0 0 BETTY ARKELL DIRECTOR 2.00 0.00 X 0 0 0 IRV ASHFORD JR DIRECTOR 2.00 0.00 X 0 0 0 KIM PEONE DIRECTOR 2.00 0.00 X 0 0 0 JERRIE MERRITT DIRECTOR 2.00 0.00 X 0 0 0 ALICE RODRIGUEZ DIRECTOR 2.00 0.00 X 0 0 0 ANNE HAINES PRESIDENT & CEO 40.00 0.00 X 262716 0 13658 SUZETTE M LONGFELLOW CHIEF FINANCIAL OFFICER 40.00 0.00 X 224123 0 12438 MARISA BARRERA CHIEF IMPACT OFFICER 40.00 0.00 X 187058 0 5535 FRANCISCO LOPEZ CHIEF OPERATIONS & INNOVATION OFFICER 40.00 0.00 X 233736 0 5931 MARGARET SMITH CHIEF LENDING & CLIENT EXP OFFICER 40.00 0.00 X 178750 0 8543 AMBER MARIE KANI HEAD OF STAKEHOLDER ENGAGEMENT 40.00 0.00 X 153749 0 10400 BRIAN DASKALOVITZ DIRECTOR OF RISK 40.00 0.00 X 137662 0 4449 ANALISA SMITH SR. DIRECTOR OF FINANCE 40.00 0.00 X 137246 0 9576 DARCIE DEFOE DIRECTOR OF MARKETING 40.00 0.00 X 141373 0 10007 KIMBERLY LEIFESTE THIRD PARTY PRODUCT MANAGER 40.00 0.00 X 105099 0 7690 1761512 0 88227 10 0 1 0 MCCALLA RAYMER LEIBERT PIERCE LLC 1544 OLD ALABAMA ROAD ROSWELL GA 30076 LEGAL CONSULTING 256533 BER LAW PC DBA RODGERS LAW OFFICES 9040 ROSWELL ROAD SUITE 205 ATLANTA GA 30350 LEGAL CONSULTING 167443 KLUEVER LAW GROUP LLC 200 NORTH LA SALLE STREET SUITE 18 CHICAGO IL 60601 LEGAL CONSULTING 122608 3 3791115 1495288 36002 5286403 LOAN INTEREST AND FEES 522200 7836868 7836868 SBA PPP LENDING FEES 522200 944639 944639 SECURED DEBT 522200 237485 237485 9018992 248227 248227 397440 372541 24899 24899 24899 MANAGEMENT FEES 900099 96209 96209 PARTNERSHIP INCOME - A 900099 94 94 96303 14674824 9115295 0 273126 1132489 896345 70761 165383 4214439 3218997 496406 499036 362960 279358 38500 45102 358289 275762 38005 44522 1050769 921131 90653 38985 77795 68197 6712 2886 14036 14036 468267 410495 40399 17373 601636 587818 30 13788 300952 211308 63506 26138 550029 447531 54988 47510 99355 82383 10772 6200 98319 72270 7132 18917 113296 64522 35970 12804 1440125 1440125 114080 96234 8977 8869 53059 39794 13265 LOAN LOSS PROVISION 11344885 11344885 LOAN SERVICING EXPENSE 566169 566169 TEMPORARY SERVICES 162683 146791 15892 23123632 21170115 1006004 947513 25723401 21027488 103128 90923 5279069 1275362 647981 609150 59860598 45046355 215123 191294 4343910 1807081 2640502 2536829 1261349 1447970 6000 6000 52478 80059 95789629 72311430 12062664 3141107 3488511 3471501 42685709 41018835 58236884 47631443 X 27418128 16630965 10134617 8049022 37552745 24679987 95789629 72311430 X -8448808 116242 -4540192 X X 0 1 X 1 1 1 X 3488025 9326277 7512573 7822206 5286403 33435484 3488025 9326277 7512573 7822206 5286403 33435484 15544606 17890878 44148 40905 45423 41890 248227 420593 33856077 59231891 0.52840 0.59940 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2201671 351504 351504 2201671 2201671 -157834 -157834 2201671 2201671 224558 224558 2201671 2201671 221407 221407 2201671 2201671 412432 402071 10361 2201671 0.00000 1.00000 0.00000 0 0 1003216 1003216 2277579 807446 1470133 1063115 999635 63480 2536829 X 16535232 116241 1854506 1970747 14564485 14036 96303 110339 14674824 24706787 1854506 1854506 22852281 14036 257315 271351 23123632 PART V, LINE 4: THE ENDOWMENT FUNDS HAVE TWO USES. FIRST THE LOAN PORTFOLIO WITH A BALANCE OF $1,495,493, IS AVAILABLE IF NEEDED TO BE USED TO LEND TO DREAMSPRING'S CLIENTS, ANY CHARGE-OFF AMOUNTS ARE REIMBURSED BY OPERATING FUNDS. AS OF 12/31/23 IT WAS ALL LENT TO CLIENTS. SECOND, IS A TRADITIONAL ENDOWMENT WITH A BALANCE OF $706,178 THAT HAS BEEN INVESTED IN MARKETABLE SECURITIES. INCOME GENERATED BY EITHER USE IS AVAILABLE FOR OPERATIONS. PART X, LINE 2: DREAMSPRING HAS ADOPTED THE PROVISION OF THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES. THERE WERE NO UNCERTAIN TAX POSITIONS TAKEN BY DREAMSPRING OR ANY OF THE LIMITED LIABILITY COMPANIES FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022. DREAMSPRING'S POLICY IS TO CLASSIFY INCOME TAX PENALTIES AND INTEREST, WHEN APPLICABLE, ACCORDING TO THEIR NATURAL CLASSIFICATION. PART XI, LINE 4B - OTHER ADJUSTMENTS: PARTNERSHIP INCOME - DREAMSPRING 2007A LLC 20. PARTNERSHIP INCOME - DREAMSPRING 2013C LLC 20. PARTNERSHIP INCOME - DREAMSPRING 2013D LLC 20. PARTNERSHIP INCOME - DREAMSPRING 2014E LLC 9. PARTNERSHIP INCOME - DREAMSPRING 2017G LLC 25. MANAGEMENT FEE 96,209. PART XII, LINE 4B - OTHER ADJUSTMENTS: INTEREST EXPENSE 257,315. 1 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 1 11 PROGRAM SERVICES SOFTWARE DEVELOPMENT FOR LENDING SYSTEM 414346 1 11 0 0 1 11 414346 0 414346 0 0 0 0 0 0 X X X X X X 0 0 0 1 0 1 0 0 0 ANNE HAINES PRESIDENT & CEO 262666 0 50 0 0 0 7727 0 5931 0 276374 0 0 0 FRANCISCO LOPEZ CHIEF OPERATIONS & INNOVATION OFFICE 213294 0 20442 0 0 0 0 0 5931 0 239667 0 0 0 SUZETTE M LONGFELLOW CHIEF FINANCIAL OFFICER 204167 0 19956 0 0 0 6507 0 5931 0 236561 0 0 0 MARISA BARRERA CHIEF IMPACT OFFICER 171237 0 15821 0 0 0 5535 0 0 0 192593 0 0 0 MARGARET SMITH CHIEF LENDING & CLIENT EXP OFFICER 162980 0 15770 0 0 0 2612 0 5931 0 187293 0 0 0 AMBER MARIE KANI HEAD OF STAKEHOLDER ENGAGEMENT 142478 0 11271 0 0 0 4469 0 5931 0 164149 0 0 0 DARCIE DEFOE DIRECTOR OF MARKETING 130102 0 11271 0 0 0 4076 0 5931 0 151380 0 0 0 PART I, LINE 3 THE CEO'S COMPENSATION IS APPROVED BY THE BOARD ANNUALLY. PART I, LINE 5 INCENTIVE COMPENSATION PAID IS BASED ON PERFORMANCE OF THE ORGANIZATION. PART I, LINE 6 INCENTIVE COMPENSATION PAID IS BASED ON PERFORMANCE OF THE ORGANIZATION. X 3 36002 FMV 0 0 1 0 PART I, COLUMN (B): COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION B, LINE 11B DRAFT OF 990 REVIEWED BY FINANCE COMMITTEE, AND ONCE APPROVED A COPY IS FURNISHED TO THE FULL BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C AN ANNUAL SIGN OFF IS REQUIRED OF ALL BOARD MEMBERS AND STAFF. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCESS FOR TOP OFFICIAL: INDEPENDENT COMPENSATION STUDY IS PERFORMED. EXECUTIVE COMMITTEE WRITTEN REVIEW. COMPENSATION PROCESS FOR OFFICERS: INDEPENDENT COMPENSATION STUDY IS PERFORMED. CEO REVIEWS PAY. BOARD APPROVES BUDGET. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON OUR WEBSITE OR UPON REQUEST. GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET ASSET RESTATEMENT -4,701,213. GAIN ON LLC ACTIVITY 161,021. FORM 990, PART XII, LINE 2C THE FINANCE COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PREVIOUS YEAR. DREAMSPRING 2007A LLC 2000 ZEARING AVE NW ALBUQUERQUE NM 87104 260693551 CAPITAL NM RELATED 20 1020 0 1 0.00080 DREAMSPRING 2011B LLC 2000 ZEARING AVE NW ALBUQUERQUE NM 87104 454150283 CAPITAL NM RELATED 1001 0 1 0.00400 DREAMSPRING 2011C LLC 2000 ZEARING AVE NW ALBUQUERQUE NM 87104 454151679 CAPITAL NM RELATED 20 1020 0 1 0.00400 DREAMSPRING 2013D LLC 2000 ZEARING AVE NW ALBUQUERQUE NM 87104 463546408 CAPITAL NM RELATED 20 1020 0 1 0.00030 DREAMSPRING 2014E LLC 2000 ZEARING AVE NW ALBUQUERQUE NM 87104 465445079 CAPITAL NM RELATED 9 1020 0 1 0.00040 DREAMSPRING 2017G LLC 2000 ZEARING AVE NW ALBUQUERQUE NM 87104 822452152 CAPITAL NM RELATED 25 1025 0 1 0.00100 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0