Skip to the page content
Your donations
Passes our checks

Dreams of Wilmington Inc

EIN 56-2001053 · Wilmington, NC

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

LegitimacyPassesRegistration and standingFinancial healthStrong100 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

THE MISSION OF DREAMS IS TO CREATE A CULTURE OF CONFIDENCE FOR YOUTH AND TEENS, THROUGH EQUITABLE ACCESS TO ARTS EDUCATION, SUPPORTED BY VALUES OF RESPECT, FAMILY AND COMMUNITY.

Income
$952,611
Spending
$818,712
Spent on programs
81%
Reserves
12.1 months of spending
Largest source of income
donations and private grants, 83%
Employees
9
Volunteers
50
Highest pay
$95,000, executive di

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 100 out of 100. Higher than 88% of charities in its peer group (arts and culture, $250k to $1m).

  • Reserves

    35 of 35

    Spendable reserves would cover 12.1 months of spending.

  • Debt

    20 of 20

    It owes 2% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 14% of income.

  • Income trend

    15 of 15

    Income rose 36% on the year before.

  • Spending floor

    15 of 15

    81% of spending went to programs and raising each dollar of donations cost 4 cents.

Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 95% of charities in its peer group (arts and culture, $250k to $1m).

  • Independent board

    25 of 25

    11 of 11 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a 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.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • 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 June 30, 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 (1)
  1. $661,702 spent. DREAMS PROVIDES HIGH-QUALITY, FREE-OF-CHARGE CLASSES IN THE LITERARY, VISUAL, AND PERFORMING ARTS TO YOUTH AGES 8-18 AT OUR INNER-CITY CENTER AS WELL AS AT OUTREACH SITES THROUGHOUT OUR COMMUNITY. SPECIFIC INITIATIVES INCLUDE YOUTH ENTREPRENEURSHIP, WHICH PROVIDES STUDENTS WITH A MUCH-NEEDED INCOME STREAM THROUGH ARTWORK SALES AND PAID PERFORMANCES; FAMILY ENGAGEMENT, WHICH OFFERS OPPORTUNITIES FOR PARENTS AND SIBLINGS TO GET INVOLVED IN PROGRAMMING; TEEN COUNCIL, IN WHICH OLDER STUDENTS ARE GIVEN A LEADERSHIP ROLE WITHIN THE ORGANIZATION; DANCE THEATRE OF DREAMS, PROVIDING PERFORMANCE OPPORTUNITIES FOR ADVANCED DANCE STUDENTS; APPRENTICESHIP, IN WHICH DREAMS EMPLOYS A SELECT GROUP OF OLDER STUDENTS, TEACHING THEM REAL- WORLD JOB SKILLS; AND INITIATIVES FOCUSED ON DIGITAL ARTS, HIGHER EDUCATION, AND VISITING ARTISTS. THE INTERPLAY OF THESE INITIATIVES SERVES TO ADDRESS THE "WHOLE CHILD- AND GUIDE THE DEVELOPMENT OF PRODUCTIVE, ENGAGED YOUTH. DREAMS PROVIDES HIGH-QUALITY, FREE-OF-CHARGE CLASSES IN THE LITERARY, VISUAL, AND PERFORMING ARTS TO YOUTH AGES 8-18 AT OUR INNER-CITY CENTER AS WELL AS AT OUTREACH SITES THROUGHOUT OUR COMMUNITY. SPECIFIC INITIATIVES INCLUDE YOUTH ENTREPRENEURSHIP, WHICH PROVIDES STUDENTS WITH A MUCH-NEEDED INCOME STREAM THROUGH ARTWORK SALES AND PAID PERFORMANCES; FAMILY ENGAGEMENT, WHICH OFFERS OPPORTUNITIES FOR PARENTS AND SIBLINGS TO GET INVOLVED IN PROGRAMMING; TEEN COUNCIL, IN WHICH OLDER STUDENTS ARE GIVEN A LEADERSHIP ROLE WITHIN THE ORGANIZATION; DANCE THEATRE OF DREAMS, PROVIDING PERFORMANCE OPPORTUNITIES FOR ADVANCED DANCE STUDENTS; APPRENTICESHIP, IN WHICH DREAMS EMPLOYS A SELECT GROUP OF OLDER STUDENTS, TEACHING THEM REAL- WORLD JOB SKILLS; AND INITIATIVES FOCUSED ON DIGITAL ARTS, HIGHER EDUCATION, AND VISITING ARTISTS. THE INTERPLAY OF THESE INITIATIVES SERVES TO ADDRESS THE "WHOLE CHILD- AND GUIDE THE DEVELOPMENT OF PRODUCTIVE, ENGAGED YOUTH.

Source: Form 990 for the year ending June 30, 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 June 2026.

    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 April 1997.

    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.