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Garden of Dreams Foundation

EIN 13-3979726 · New York, NY

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood79 out of 100GovernanceGood84 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

OUR MISSION IS SUPPORTED BY THREE CORE PILLARS: 1) COMMUNITY PROJECTS - WE PROVIDE DIRECT FINANCIAL SUPPORT FOR IMPROVEMENTS TO COMMUNITY FACILITIES, AS WELL AS FOR COMMUNITY-BASED SPORTS, ENTERTAINMENT AND MEDIA PROJECTS, THAT ENHANCE THE ENVIRONMENT OF YOUNG PEOPLE WHERE THEY LIVE AND GROW. 2) EDUCATION - WE PROVIDE SCHOLARSHIPS FOR COLLEGE AND TRADE SCHOOLS AS WELL AS MENTORSHIP AND CAREER EXPOSURE PROGRAMS THAT OPEN THE DOORS TO OPPORTUNITIES AND IMPACT OUR YOUNG PEOPLE'S FUTURES. 3) INSPIRATION & JOY - WE PROVIDE UNFORGETTABLE EXPERIENCES THAT INSPIRE YOUNG PEOPLE IN OUR COMMUNITIES, AND FOSTER HEALING AND JOY.

Income
$8.9 million
Spending
$8.5 million
Spent on programs
81%
Reserves
8 months of spending
Largest source of income
donations and private grants, 98%
Employees
0
Volunteers
37

Source: Form 990 for the year ending August 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 79 out of 100. Higher than 44% of charities in its peer group (philanthropy, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 8.0 months of spending.

  • Debt

    16 of 20

    It owes 17% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 4% of income.

  • Income trend

    5 of 15

    Income fell 14% on the year before.

  • Spending floor

    15 of 15

    81% of spending went to programs and raising each dollar of donations cost 10 cents.

Source: Form 990 for the year ending August 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 84 out of 100. Higher than 37% of charities in its peer group (philanthropy, $1m to $10m).

  • Independent board

    25 of 25

    23 of 23 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending August 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $4.6 million spent. EVENTS AT MADISON SQUARE GARDEN, RADIO CITY MUSIC HALL, TEAMS' TRAINING CENTER AND OTHER VENUES: THE FOUNDATION PROVIDES ACCESS TO EVENTS SUCH AS CONCERTS, SPORTING EVENTS AND A TALENT SHOW, AS WELL AS PROGRAMMING SUCH AS MENTORING & EDUCATIONAL OPPORTUNITIES AT VARIOUS VENUES, INCLUDING MSG, RADIO CITY MUSIC HALL, MSG TRAINING CENTER & OTHER VENUES. THE FOUNDATION ALSO SUPPORTS THE CHILDREN OF ITS PARTNER ORGANIZATIONS THROUGH VARIOUS DIRECT DONATIONS THROUGHOUT THE YEAR, SUCH AS AN ADOPT-A-FAMILY DRIVE DURING THE HOLIDAY SEASON IN WHICH MSG EMPLOYEES CAN PURCHASE NECESSARY FOOD, CLOTHING & OTHER ITEMS FOR SPECIFIC FAMILIES. (Expenses $ 106,063 including grants of $ 0)(Revenue $ 0) OTHER PROGRAM SERVICES: INCLUDES DONATIONS OF GOODIE BAGS, TEAM MERCHANDISE & OTHER GIFTS COMMEMORATING SPECIAL EXPERIENCES FOR CHILDREN AND FAMILIES PARTICIPATING IN THE FOUNDATION'S PROGRAMS, AND SHIPPING OF ITEMS TO RECIPIENT ORGANIZATIONS.
  2. $1.9 million spent. THE GARDEN OF DREAMS GIVING PROGRAM: THE PROGRAM HELPS ITS PARTNER ORGANIZATIONS MEET THE CRITICAL NEEDS OF THE CHILDREN THEY SERVE, INCLUDING THROUGH DIRECT SUPPORT OF COLLEGE SCHOLARSHIPS AND CAPITAL IMPROVEMENT PROJECTS WITHIN THE COMMUNITY. EXAMPLES OF THESE GRANTS ARE REFURBISHMENTS OF GYMNASIUMS, DANCE STUDIOS, RECORDING STUDIOS AND CHILDREN'S HOSPITAL WINGS.
  3. $342,360 spent. CBO SUPPORT: IN RESPONSE TO THE PANDEMIC & THROUGH ITS COMMUNITY ORGANIZATIONS THE FOUNDATION PROVIDED ASSISTANCE TO FAMILIES SUFFERING FROM FOOD SCARCITY THROUGH THE PROVISION OF MEALS AND OTHER SUPPLIES. (Expenses $ 106,063 including grants of $ 0)(Revenue $ 0) OTHER PROGRAM SERVICES: INCLUDES DONATIONS OF GOODIE BAGS, TEAM MERCHANDISE & OTHER GIFTS COMMEMORATING SPECIAL EXPERIENCES FOR CHILDREN AND FAMILIES PARTICIPATING IN THE FOUNDATION'S PROGRAMS, AND SHIPPING OF ITEMS TO RECIPIENT ORGANIZATIONS.
  4. $106,063 spent. OTHER PROGRAM SERVICES: INCLUDES DONATIONS OF GOODIE BAGS, TEAM MERCHANDISE & OTHER GIFTS COMMEMORATING SPECIAL EXPERIENCES FOR CHILDREN AND FAMILIES PARTICIPATING IN THE FOUNDATION'S PROGRAMS, AND SHIPPING OF ITEMS TO RECIPIENT ORGANIZATIONS.

Source: Form 990 for the year ending August 31, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending August 2025.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since August 1998.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.