GOLD2023

Dream Rite

Together, We Make Dreams Happen!

Bowie, MD   |  www.dreamrite.org
GuideStar Charity Check

Dream Rite

EIN: 81-1120635


Mission

Dream Rite is a nonprofit charitable organization with a core focus on education. With a vision to give hope to the future of young people in Africa, our mission centers on three keywords - educate, engage, and empower. These keywords are integral to our nonprofit activities, which provide young people with educational programs, scholarships, and economic opportunities. We are a trusted platform for helping young people in Africa to secure their futures through education and economic empowerment. Since 2015, Dream Rite has provided educational support to thousands of young people in Africa. Visit our website to learn more.

Ruling year info

2016

Executive Director

Olu Efunwoye

Main address

15408 Neman Drive

Bowie, MD 20716 USA

Show more contact info

EIN

81-1120635

Subject area info

Education

Youth services

Youth mentoring

Youth organizing

Population served info

Children and youth

Non-adult children

People of African descent

At-risk youth

Students

NTEE code info

Scholarships, Student Financial Aid, Awards (B82)

Fund Raising and/or Fund Distribution (B12)

Youth Development Programs (O50)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990-N.

Tax forms

Show Forms 990

Communication

Blog

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Dreamers College Fund

This scholarship program aims to give college funding opportunities to college-bound students who demonstrate astute academic prowess and financial need. Often, students from financially challenged families with records of high academic performance are saddled with the burden of paying for their higher education.

These students sometimes face difficult choices of dropping out of school or abandoning their educational dreams. They are potential future innovators, business leaders, and world-changers who are reaching out with an outcry for help.

This program aims to salvage such a future leader from giving up on their dream of a better future. Students with high academic potential should never have to give up on pursuing their educational dream for lack of funding. Hence, this program provides successful applicants with funding for their 4-year college education.

Population(s) Served
Young adults
Adolescents
Low-income people
At-risk youth
Students

Through the MentorMe program, Dream Rite creates a people-centric culture that builds meaningful relationships with young people to support their life journey. Young people have loads of questions as they seek to understand their world as it unfolds. They seek an opportunity to refine their crucible of ideas and thoughts into meaningful propositions of value in their environment.

The MentorMe program is a mentoring platform that creates a pair relationship that allows young people to tap into the wealth of knowledge and experience of professionals. The program is an opportunity for a relationship of value between young people navigating uncharted paths and professionals working in their desired career paths.

Mentors in this program possess good academic track records, desirable professional characteristics, and a sense of self-discipline. They are passionate about passing on life-long skills to help younger people reach their goals and gain meaningful experience.

Population(s) Served
Young adults
Adolescents
At-risk youth
Young adults
Adolescents
At-risk youth

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Total dollar amount of scholarship awarded

This metric is no longer tracked.
Totals By Year
Related Program

Dreamers College Fund

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

The amount shown is the USD equivalent using official bank conversion rate of N460/$ as of the time of this report (Feb 17, 2023). Ref: https://www.cbn.gov.ng/rates/ExchRateByCurrency.asp

Number of students who receive scholarship funds and/or tuition assistance

This metric is no longer tracked.
Totals By Year
Population(s) Served

People of African descent, Low-income people, Students, Young adults, Adolescents

Related Program

Dreamers College Fund

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Dreamers College Fund scholarship program awards One million Nigerian Naira (~$2,000) to successful applicants for their college education.

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We aim to collect feedback from as many people we serve as possible, We act on the feedback we receive

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback, We don’t have the right technology to collect and aggregate feedback efficiently, It is difficult to find the ongoing funding to support feedback collection

Financial data

SOURCE: Self-reported by organization

Dream Rite

Revenue & expenses

Fiscal Year: 2022

SOURCE: Self-reported by organization

Revenue
Contributions, Grants, Gifts $11,226
Program Services $0
Membership Dues $0
Special Events $0
Other Revenue $0
Total Revenue $14,126
Expenses
Program Services $5,317
Administration $1,617
Fundraising $0
Payments to Affiliates $0
Other Expenses $0
Total Expenses $5,317

Dream Rite

Balance sheet

Fiscal Year: 2022

SOURCE: Self-reported by organization

Assets
Total Assets $0
Liabilities
Total Liabilities $0
Fund balance (EOY)
Net Assets $0

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

Executive Director

Olu Efunwoye

Olu Efunwoye is an astute IT professional specializing in cyber and cloud security. He is keenly interested in educational support and motivation for future generations. According to Efunwoye, Education is a force that changes the default state of illiteracy and secures your future by making you a voice where you could have been an echo.

There are no officers, directors or key employees recorded for this organization

There are no highest paid employees recorded for this organization.

Dream Rite

Board of directors
as of 04/18/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Babatunde Ijiyemi

Babatunde Ijiyemi

Director of Advancement, Bowie State University, Maryland, United States

Olu Efunwoye

Principal Consultant, Morites Tech Solutions, Maryland, United States

Olabisi Adekola

CFO, African Alliance Insurance Plc, Lagos, Nigeria

Timothy Adereti

Adereti Adegbite & Co

Oluwatosin Akinyinka

Adeola Efunwoye

Senior Consultant, NXT Solutions, Maryland, United States

Philip Okunaiya

Manager, RBC Capital Markets, Nova Scotia, Canada

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 4/18/2023

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
Black/African American
Gender identity
Male, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

We do not display disability information for organizations with fewer than 15 staff.

Equity strategies

Last updated: 04/08/2021

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.