Nonprofit · EIN 82-2909296
DREAMS & DUCATS
Tax-exempt · SAN DIEGO, CA 92101
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $426,251 | $228,594 | $197,657 | $302,455 | $0 | $302,455 |
| December 31, 2024 | 990-EZ | $103,047 | $71,263 | $31,784 | $47,154 | $15,370 | $31,784 |
| December 31, 2023 | 990-EZ | $76,586 | $80,675 | -$4,089 | $0 | – | -$4,089 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $399,251
- of which government grants
- $145,000
- Program service revenue
- $27,000
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $95
- Accounting fees
- $2,550
- Program services (functional)
- $165,907
- Management and general (functional)
- $62,687
Balance sheet and other
- Total assets, start of year
- $104,798
- Total assets, end of year
- $302,455
- Total liabilities, end of year
- $0
- Net assets, end of year
- $302,455
- Gross receipts
- $426,251
- Employees
- 0
- Volunteers
- 5
- Year formed
- 2017
- State of legal domicile
- CA
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, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICHARD MAGALE | PRESIDENT Trustee or director, Officer | – | $0 |
| DOMINIC MALONE | CHIEF OF IMPACT Trustee or director, Officer | – | $0 |
| TIMOTHY TILLETT | TREASURER AND SECRETARY Trustee or director, Officer | – | $0 |
| KAMAAL MARTIN | BOARD MEMBER Trustee or director | – | $0 |
| PAULA ANN TREVINO | BOARD MEMBER Trustee or director | – | $0 |
990-EZ for the year ended December 31, 2024: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICHARD MAGALE | PRESIDENT | 40 | $0 |
| TIMOTHY TILLETT | TREASURER | 2 | $0 |
| JAMES MALONE | CHIEF OF IMPACT AND DIRECTOR | 2 | $0 |
| RICHARD MAGALE | SECRETARY | 1 | $0 |
990-EZ for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| RICARD MAGALE | PRESIDENT | 40 | $0 |
| MICAL RAMIREZ | SECRETARY AND TREASURER | 2 | $0 |
| JAMES MALONE | CHIEF OF IMPACT AND DIRECTOR | 2 | $0 |
| ERWIN HINES | DIRECTOR | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 1007 5TH AVE APT 504, SAN DIEGO, CA 92101-5131
- Mailing address (990-N for 2021)
- 3950 Ohio Street Unit 428, San Diego CA 92104
- Principal officer (990 for 2025)
- RICHARD MAGALE, 1007 5TH AVENUE UNIT 504, SAN DIEGO, CA 92101
- Principal officer (990-N for 2021)
- Richard Magale, 3950 Ohio Street Unit 428, San Diego CA 92104
- Signed the 990
- RICHARD MAGALE, PRESIDENT
- Phone
- (619) 750-2311
- Website
- dreamsducats.org
- Return prepared by
- TCT TAX AND BOOKKEEPING SERVICES LLC
California records
California keeps its own records of charities and corporations. Search them by EIN 82-2909296 or by the name DREAMS & DUCATS.
- Attorney General, Registry of Charities and Fundraisers
- Registration status and filed reports (CT-TR-1, RRF-1)
- Secretary of State, bizfile Online
- Corporation status, entity number, agent for service
- Franchise Tax Board
- Entity status letter (state tax exemption, good standing)
Mission
TO EVOLVE LEARNING ALONGSIDE COMMUNITY AND CULTURE.
Program accomplishments
- Studio Sessions - a cultural enrichment program that centers music as a catalyst for healing , connection and belonging through immersive music events.Expenses $50,000 · revenue $50,000
- Alt-Futures is an 8-week, project-based creative workforce and civic engagement program that prepares youth ages 1624 to explore careers and entrepreneurship in brand and creative strategy while building the tools to shape narratives, influence culture, and drive social change.Expenses $11,000 · revenue $11,000
- Threads, a youth enrichment program that empowers young people to express their dreams, identities, and stories through custom shoe painting, fashion styling, and design.Expenses $11,500 · revenue $11,500
- EQUITY IMPACT PROGRAM- GENERAL PROGRAM AND OPERATING SUPPORT ARTS ECOSYSTEM: VENUES AND SPACES- GENERAL PROGRAM AND OPERATING SUPPORT FOR ACTIVATION OF A COMMUNITY LEARNING AND CULTURAL CENTERExpenses $93,407 · revenue $272,500
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 year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990-EZ on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990-EZ on file |
IRS record
- EIN
- 82-2909296
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2019
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B20)
- Assets (IRS master file)
- $302,455
- Income (IRS master file)
- $426,251
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $426,251 | $228,594 | $302,455 | XML |
| 990-EZ | December 2024 | $103,047 | $71,263 | $47,154 | XML |
| 990-EZ | December 2023 | $76,586 | $80,675 | $0 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-N for 2021 Officer: Richard Magale | December 31, 2021 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2020 Officer: Richard Magale | December 31, 2020 | ≤ $50,000 receipts | – | – | e-Postcard |
| 990-N for 2019 Officer: Richard Magale | December 31, 2019 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 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 (search EIN 82-2909296).
Questions about DREAMS & DUCATS
- What is the EIN of DREAMS & DUCATS?
- The employer identification number (EIN) of DREAMS & DUCATS is 82-2909296.
- Is DREAMS & DUCATS tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2019.
- Are donations to DREAMS & DUCATS tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does DREAMS & DUCATS 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 DREAMS & DUCATS due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did DREAMS & DUCATS last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of DREAMS & DUCATS?
- The 990 for the year ended December 31, 2025 names RICHARD MAGALE.
- Who are the officers and directors of DREAMS & DUCATS?
- The 990 for the year ended December 31, 2025 lists 5 people; 0 received compensation from the organization.
- How much revenue does DREAMS & DUCATS have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $426,251, expenses of $228,594 and total assets of $302,455 at year end.
Other nonprofits in SAN DIEGO
- NATIONAL UNIVERSITY EIN 23-7172306 · last filed 990 for 2025
- SAN DIEGO STATE UNIVERSITY FOUNDATION EIN 95-6042721 · last filed 990 for 2025
- POINT LOMA NAZARENE UNIVERSITY EIN 95-1644035 · last filed 990 for 2025
- HIGH TECH HIGH EIN 33-0866664 · last filed 990 for 2025
- AZTEC SHOPS LTD EIN 95-0516240 · last filed 990 for 2025
- AVID CENTER EIN 33-0522594 · last filed 990 for 2024
- CAMBIAR EDUCATION EIN 81-3508420 · last filed 990 for 2024
- FRANCIS PARKER SCHOOL EIN 95-1696720 · last filed 990 for 2025