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Nonprofit · EIN 45-5456961

PRECIOUS DREAMS FOUNDATION

Tax-exempt · INWOOD, NY 11096

Financials

$327K$466K2024
Revenue Expenses · by fiscal year end
Financials of PRECIOUS DREAMS FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$327,195$465,964-$138,769$164,768$18,905$145,863
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$327,195
Program service revenue
$0
Investment income
$0
Other revenue
$0

Expenses

Grants and similar amounts paid
$11,255
Compensation of officers, directors and key employees
$97,077
Other salaries and wages
$87,683
Salaries, compensation and benefits (total)
$218,739
Professional fundraising fees
$0
Accounting fees
$6,625
Travel
$10,873
Depreciation
$4,586
Program services (functional)
$223,069
Management and general (functional)
$86,790
Fundraising (functional)
$156,105

Balance sheet and other

Total assets, start of year
$305,360
Total assets, end of year
$164,768
Total liabilities, end of year
$18,905
Net assets, end of year
$145,863
Land, buildings and equipment
$22,928
Net assets without donor restrictions
$145,863
Gross receipts
$327,195
Employees
4
Year formed
2012
State of legal domicile
NY

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
NICOLE RUSSELLEXECUTIVE DIRECTOR
Officer
40$97,077$7,723
KENNETH HALPERNBOARD MEMBER
Trustee or director
5$0$0
JUDY YAVITZBOARD MEMBER
Trustee or director
1$0$0
STEVEN CARTERBOARD MEMBER
Trustee or director
1$0$0
YULIANA BRAVOBOARD MEMBER
Trustee or director
1$0$0
EUNICE KINDREDBOARD MEMBER
Trustee or director
1$0$0
AR BERNARDBOARD MEMBER
Trustee or director
1$0$0
JULIE EVANSCHAIRPERSON
Officer
5$0$0
JOSEPH BELLUCKCHAIRPERSON
Officer
5$0$0
SUSAN KRAIZGRUNSECRETARY
Officer
5$0$0
BERNADETTE CATALANAVICE CHAIRPERSON
Officer
1$0$0
ANGELICA ALAMTREASURER
Officer
1$0$0
JASON HUMBLEBOARD MEMBER
Former
1$0$0

Address and contacts

Address (IRS master file)
20 HARRIS AVE, INWOOD, NY 11096-2211
In care of
% NICOLE RUSSELL
Signed the 990
NICOLE RUSSELL, EXECUTIVE DIRECTOR
Phone
(347) 514-3833
Return prepared by
Matthew DiPasquale CPA LLC

Mission

TO PROVIDE COMFORT ITEMS AND PROGRAMS TO SUPPORT THE DREAMS OF CHILDREN AND YOUNG ADULTS IN FOSTER CARE AND HOMELESS SHELTERS.

990 for the year ended December 31, 2024

Program accomplishments

  • WE PROVIDED PROGRAMMING TO EMPOWER YOUTH TO SELF-COMFORT AND DISCOVER PATHWAYS TO THEIR DREAMS. PROGRAMS INCLUDE YOGA, JOURNALING, MEDITATION EXERCISES AND PILLOWCASE DECORATING. OUR NEWEST PROGRAM, THE HUMBLE DREAMS INITIATIVE, IS A COHORT FOR TEENS AND YOUNG ADULTS THAT FINANCIAL SUPPORT AND MENTORSHIP TO HELP THEM RECOGNIZE THEIR DREAMS AND BRING THEM TO FRUITION.
    Expenses $223,069

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
45-5456961
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2014
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$164,768
Income (IRS master file)
$327,195

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024–––IRS
990December 2023$474,568$445,334$305,360IRS
990December 2022$409,688$420,347$264,733IRS
990December 2021–––IRS
990December 2020–––IRS
990-EZDecember 2019–––IRS
990-EZDecember 2018–––IRS
990-EZDecember 2017–––IRS

990-N: the IRS publishes only the latest e-Postcard per organization; earlier years appear here as 990.tax collects the monthly files. 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS.

Questions about PRECIOUS DREAMS FOUNDATION

What is the EIN of PRECIOUS DREAMS FOUNDATION?
The employer identification number (EIN) of PRECIOUS DREAMS FOUNDATION is 45-5456961.
Is PRECIOUS DREAMS FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2014.
Are donations to PRECIOUS DREAMS FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does PRECIOUS DREAMS FOUNDATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of PRECIOUS DREAMS FOUNDATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PRECIOUS DREAMS FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who are the officers and directors of PRECIOUS DREAMS FOUNDATION?
The 990 for the year ended December 31, 2024 lists 13 people; 1 received compensation from the organization, the highest $97,077 (NICOLE RUSSELL, EXECUTIVE DIRECTOR).
How much revenue does PRECIOUS DREAMS FOUNDATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $327,195, expenses of $465,964 and total assets of $164,768 at year end.

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