DREAM IT FOUNDATION INC: Form 990, tax year 2020

View the entire original 990 at ProPublica ↗

Organization
DREAM IT FOUNDATION INC (EIN 83-1992325)
Tax period
2020-01-01 to 2020-12-31
Filed
2021-08-13
IRS object ID
202102259349302815
Schema version
2020v4.1
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2021-08-13T15:13:00-04:00ReturnTs
Tax Period End2020-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN562286428PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1F&S Projects CorpBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11920 N Commerce Parkway Ste 3AddressLine1Txt
CityFort LauderdaleCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33326ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2020-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN831992325EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1DREAM IT FOUNDATION INCBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlDREABusinessNameControlTxt

US Address USAddress

FieldValueIRS element (for citing)
Address Line111034 NW 47 LnAddressLine1Txt
CityMiamiCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33178ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonNELSONG BUSTAMANTEPersonNm
Person TitleDirectorPersonTitleTxt
Phone7867156915PhoneNum
Signature2021-08-13SignatureDt
Discuss With Paid PreparerfalseDiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstNELSONGPersonFirstNm
Person LastBUSTAMANTEPersonLastNm
FieldValueIRS element (for citing)
SSNXXX-XX-XXXXSSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJuan RestrepoPreparerPersonNm
PTINP00549746PTIN
Phone9544829681PhoneNum
Preparation2021-08-13PreparationDt

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

FieldValueIRS element (for citing)
Trusted Customer0TrustedCustomerCd
OOB Security Verification00OOBSecurityVerificationCd
Authentication Assurance LevelAAL1AuthenticationAssuranceLevelCd
Identity Assurance LevelIAL1IdentityAssuranceLevelCd
FieldValueIRS element (for citing)
Tax2020TaxYr
Build TS2022-09-23 18:48:47ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerNelson Bustamante OfficerPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line111034 NW 47 LaneAddressLine1Txt
CityMiamiCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33178ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$886,815GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2018FormationYr
Legal Domicile StateFLLegalDomicileStateCd
Activity Or MissionThe mission of the foundation is to produce, promote, distribute, publish and edit, inspirational, motivational and positive content for television, web, social media, radio, books, records, music, documents and events. Some production of that content is to help other foundationsActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee2TotalEmployeeCnt
Total Gross UBI$1,800TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
CY Contributions Grants$885,015CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
CY Investment Income$0CYInvestmentIncomeAmt
CY Other Revenue$1,800CYOtherRevenueAmt
CY Total Revenue$886,815CYTotalRevenueAmt
CY Grants And Similar Paid$15,300CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
CY Salaries Comp Emp Bnft Paid$151,932CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
CY Other Expenses$724,429CYOtherExpensesAmt
CY Total Expenses$891,661CYTotalExpensesAmt
CY Revenues Less Expenses-$4,846CYRevenuesLessExpensesAmt
Total Assets BOY$67,469TotalAssetsBOYAmt
Total Assets EOY$88,344TotalAssetsEOYAmt
Total Liabilities BOY$904TotalLiabilitiesBOYAmt
Total Liabilities EOY$26,625TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$66,565NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$61,719NetAssetsOrFundBalancesEOYAmt
MissionThe mission of the foundation is to produce, promote, distribute, publish and edit, inspirational, motivational and positive content for television, web, social media, radio, books, records, music, documents and events. Some production of that content is to help other foundationsMissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$724,850ExpenseAmt
Grant$891,661GrantAmt
DescTV Production for program Corazones Guerreros (Warrior Hearts)Desc
Total Program Service Expenses$724,850TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredfalseScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgYes (true)MoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Transaction With Control EntfalseTransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document7IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee2EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Form1098 C FiledfalseForm1098CFiledInd
DAF Excess Business HoldingsfalseDAFExcessBusinessHoldingsInd
Taxable DistributionsfalseTaxableDistributionsInd
Distribution To DonorfalseDistributionToDonorInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyfalseForm990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonNelson Bustamante OfficerPersonNm
Phone7867156915PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line111034 NW 47 LaneAddressLine1Txt
CityMiamiCityNm
State AbbreviationFLStateAbbreviationCd
ZIP33178ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
Julio C Cabrera
Director40.000.00Yes (X)$20,000$0$0
Edgar Garcia
Director40.000.00Yes (X)$20,000$0$0
Alexandre Correa
Director40.0040.00Yes (X)$20,000$0$0
Nelson Bustamante
Director40.0040.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$60,000TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$0TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K0IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
Related Organizations$885,015RelatedOrganizationsAmt
Total Contributions$885,015TotalContributionsAmt

Royalties Revenue RoyaltiesRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$1,800TotalRevenueColumnAmt
Unrelated Business Revenue$1,800UnrelatedBusinessRevenueAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$886,815TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$1,800UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Info In Schedule O Part IXYes (X)InfoInScheduleOPartIXInd

Foreign Grants ForeignGrantsGrp

FieldValueIRS element (for citing)
Total$15,300TotalAmt
Program Services$15,300ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$60,000TotalAmt
Management And General$60,000ManagementAndGeneralAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$84,970TotalAmt
Management And General$84,970ManagementAndGeneralAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$6,962TotalAmt
Management And General$6,962ManagementAndGeneralAmt

Fees For Services Management FeesForServicesManagementGrp

FieldValueIRS element (for citing)
Total$60,000TotalAmt
Program Services$60,000ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$9,301TotalAmt
Program Services$9,301ProgramServicesAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$637,473TotalAmt
Program Services$637,473ProgramServicesAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$2,594TotalAmt
Program Services$2,594ProgramServicesAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$182TotalAmt
Program Services$182ProgramServicesAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$2,759TotalAmt
Management And General$2,759ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (2 entries)

DescDescTotalTotalAmtManagement And GeneralManagementAndGeneralAmt
Rent Office$12,000$12,000
Repairs and Maintenance$120$120

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$891,661TotalAmt
Program Services$724,850ProgramServicesAmt
Management And General$166,811ManagementAndGeneralAmt
Fundraising$0FundraisingAmt
FieldValueIRS element (for citing)
Info In Schedule O Part XYes (X)InfoInScheduleOPartXInd

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$67,469BOYAmt
EOY$88,344EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$67,469BOYAmt
EOY$88,344EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$904BOYAmt
EOY$26,625EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$904BOYAmt
EOY$26,625EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$66,565BOYAmt
EOY$61,719EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$66,565BOYAmt
EOY$61,719EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$67,469BOYAmt
EOY$88,344EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$4,846ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$910,134CurrentTaxYearMinus1YearAmt
Current Tax Year$885,015CurrentTaxYearAmt
Total$1,795,149TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$910,134CurrentTaxYearMinus1YearAmt
Current Tax Year$885,015CurrentTaxYearAmt
Total$1,795,149TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$1,795,149PublicSupportTotal509Amt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$0CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus2 Years$0CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$910,134CurrentTaxYearMinus1YearAmt
Current Tax Year$885,015CurrentTaxYearAmt
Total$1,795,149TotalAmt
FieldValueIRS element (for citing)
First5 Years509Yes (X)First5Years509Ind

Schedule F IRS990ScheduleF

Grants To Org Outside US GrantsToOrgOutsideUSGrp

FieldValueIRS element (for citing)
RegionSouth AmericaRegionTxt
Purpose Of GrantSocial Support-Development and EducatioNPurposeOfGrantTxt
Cash Grant$8,000CashGrantAmt
Manner Of Cash DisbursementInternational transferMannerOfCashDisbursementTxt
Description Of Non Cash AsstNADescriptionOfNonCashAsstTxt
Valuation Method UsedBookValuationMethodUsedDesc
FieldValueIRS element (for citing)
Total501c3 Org1Total501c3OrgCnt
Total Other Org1TotalOtherOrgCnt
Transfer To Foreign CorpfalseTransferToForeignCorpInd
Interest In Foreign TrustfalseInterestInForeignTrustInd
Foreign Corp OwnershipfalseForeignCorpOwnershipInd
Passive Foreign Investmest CofalsePassiveForeignInvestmestCoInd
Foreign PartnershipfalseForeignPartnershipInd
Boycott CountriesfalseBoycottCountriesInd

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990 governing body review Part VI line 11Copy of form 990 will be provided to all members
Governing documents etc available to public Part VI line 19Upon Request
Explanation of other changes in net assets or fund balances Part XI line 9Its first report of total assets
List of other fees for services expenses Part IX line 11gA statement is included with all expenses
List of other expenses Part IX line 24eRent expenses
Balance Sheet Part XAmount reported is Temporary Restricted Net Assets

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