GOLD2023

Dream Factory, Inc. Brooklyn Subordinate

Making dreams come true for critically and chronically ill children ages three through eighteen

aka The Dream Factory of Brooklyn   |   Long Beach, NJ   |  https://dreamfactorybrooklyn.org

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Dream Factory, Inc. Brooklyn

EIN: 37-1636860  Subordinate info

Mission

The Dream Factory, Inc., the second-largest children's wish-granting organization in the United States, grants the dreams of children who have been diagnosed with critical or chronic illnesses and are 3 through 18 years of age. We serve children with chronic conditions as well and critical illnesses because we believe children with significant chronic conditions suffer physically and emotionally as well. Founded in Hopkinsville, Kentucky in 1980, The Dream Factory nationally has granted thousands of dreams in its history. Having no paid staff at the chapter level, we depend on very dedicated volunteers in over 30 chapters across the country to raise funds, arrange dream trips and procure special items for children in their own communities.

Ruling year info

1991

National Director/CEO

Mr. Mike McKenzie

Main address

55 MELROSE TER APT 312

Long Beach, NJ 07740 USA

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EIN

37-1636860

Subject area info

Youth services

Population served info

Children and youth

People with diseases and illnesses

NTEE code info

Children's and Youth Services (P30)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

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

Tax forms

Show Forms 990

Communication

Affiliations

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

According to the American Childhood Cancer organization, an estimated 16,000 children between birth and the age of 19 will be diagnosed with cancer each year. It is estimated that 35,000 children are currently in treatment for cancer. This means that approximately 50,000 children each year are eligible for their wish to be granted. This does not include chronically ill children, which are estimated to be 15% of the population under 18 years old. Only approximately 22,000 children get their wish granted each year, meaning more than 50% of children are waiting for their dream to come true each year.

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?

Dream Granting

The Dream Factory, Inc., is a not-for-profit, volunteer based organization that grants the dreams of children who area between the ages of 3 and 18 years, who have been diagnosed with critical and chronic illnesses. The Dream Factory's goal is for 90% of all funds raised to be used to fulfill its mission.

Population(s) Served
Children and youth
People with diseases and illnesses

Where we work

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

The Dream Factory, Inc. strives to grant the dreams of critically and chronically ill children ages three through eighteen who reside within the areas in which we have chapters located.

The Dream Factory, Inc. constantly solicits funding to be able to grant the dreams of as many critically and chronically ill children who qualify for our program as possible. This is done through fundraising events, independent asks, year-end asks, grants, and corporate sponsorship.

The Dream Factory, Inc. constantly solicits funding to be able to grant the dreams of as many critically and chronically ill children who qualify for our program as possible. This is done through fundraising events, independent asks, year-end asks, grants, and corporate sponsorship.

The Dream Factory, Inc. currently grants more than 200 dreams a year and growing. We continue to expand through the creation of new chapters so that we can serve children in new areas across the United States. We continually see growth in our finances and mission impact.

Financials

Dream Factory, Inc. Brooklyn
Financial documents
2022 FY 2021-2022 2017 Audit 2016-2017.pdf 2014 2013-2014 Audit

Financial data

SOURCE: Self-reported by organization

Dream Factory, Inc. Brooklyn

Revenue & expenses

Fiscal Year: 2017

SOURCE: Self-reported by organization

Revenue
Contributions, Grants, Gifts $745,402
Program Services $0
Membership Dues $0
Special Events $1,104,254
Other Revenue $988,715
Total Revenue $2,838,371
Expenses
Program Services $22,417,331
Administration $126,232
Fundraising $88,005
Payments to Affiliates $0
Other Expenses $0
Total Expenses $2,455,970

Dream Factory, Inc. Brooklyn

Balance sheet

Fiscal Year: 2017

SOURCE: Self-reported by organization

Assets
Total Assets $4,217,310
Liabilities
Total Liabilities $55,079
Fund balance (EOY)
Net Assets $4,162,231

Operations

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

Documents
Letter of Determination
Form 1023/1024 is not available for this organization

National Director/CEO

Mr. Mike McKenzie

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

There are no highest paid employees recorded for this organization.

Dream Factory, Inc. Brooklyn

Board of directors
as of 09/17/2023
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board co-chair

Daniel Forrest

Dream Factory, Inc - Executive Committee


Board co-chair

Virginia Avery

Dream Factory, Inc - Executive Committee

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? Not applicable
  • 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? Not applicable
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Not applicable
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable