Possible Dream Foundation Inc in Miami, Florida (FL)

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Possible Dream Foundation Inc
Employer Identification Number (EIN)650023333
Name of OrganizationPossible Dream Foundation Inc
Address13615 S Dixie Highway A114-528, Miami, FL 33176-7254
ActivitiesGifts, grants, or loans to other organizations
SubsectionCharitable Organization
Ruling Date04/1988
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
Exempt Organization StatusUnconditional Exemption
Tax Period09/2012
Assets$1,000,000 to $4,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,121,648
Amount of Income$1,165,332
Form 990 Revenue Amount$1,148,852

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Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?No
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$1,629,909
Contributions, Gifts, Grants and Other Similar Amounts$80,640
Program Service Revenue$1,065,419
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$48
Income from investment of tax-exempt bond proceeds$0
Net rental income$0
Net gain from sales of assets other than inventory$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$483,802
Statement of Functional Expenses (for 2011)
Total functional expenses$1,281,374
Compensation of current officers, directors, trustees, and key employees$66,740
Other salaries and wages$504,752
Payroll taxes$54,577
Professional fundraising services$0
Balance Sheet (for 2011)
Total assets$1,213,796
Total liabilities$679,797
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$597,811
Unsecured notes and loans payable to unrelated third parties$0
Total net assets or fund balances$533,999
Retained earnings, endowment, accumulated income, or other funds$533,999
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$338,431
Gifts, grants, contributions, and membership fees received$337,324
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$1,107
Gross receipts from related activities, etc.$0
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