Better Business Bureau Report for
Dreams for Kids

Better Business Bureau Report issued April 2016
Better Business Bureau Report expires April 2018


Does not meet one or more standards
This charity does not meet one or more of the 20 standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Dreams for Kids
Address: 820 W. Jackson, Suite 805
  Chicago, IL 60607
Phone: 312-559-8400
Web Address: www.dreamsforkids.org
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Better Business Bureau Comments

Year, State Incorporated: 1989, Illinois
Affiliates: None
Stated Purpose: Dreams for Kids replaces charity with opportunity for at-risk youth through service, leadership and social activities and inspires them to fearlessly pursue their dreams and compassionately change the world.

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Evaluation Conclusions

              

Dreams for Kids does not meet the following 3 Standards for Charity Accountability.

Standard 8: Program Service Expense Ratio - Spend at least 65% of its total expenses on program activities.

Dreams for Kids does not meet this Standard because:

  • According to the its unaudited financial statements for the fiscal year ended December 31, 2015, the organization spent $51,045 or 56% of its total expenses ($90,479) on program service activities.

Standard 14: Budget - Have a board-approved annual budget for its current fiscal year, outlining projected expenses for major program activities, fund raising, and administration.

Dreams for Kids does not meet this Standard because, when the organization provided budget information, it indicated that the budget:

  • Did not identify total projected fund raising expenses.

Standard 15: Misleading Appeals - Have solicitations and informational materials, distributed by any means, that are accurate, truthful and not misleading, both in whole and in part. Appeals that omit a clear description of program(s) for which contributions are sought will not meet this standard. A charity should also be able to substantiate that the timing and nature of its expenditures are in accordance with what is stated, expressed, or implied in the charity's solicitations.

In addition, the BBB of Chicago & Northern Illinois requested but did not receive complete information on the organization’s finances and is unable to verify the organization's compliance with the following Standard for Charity Accountability: 10.
Dreams for Kids meets the remaining 16 Standards for Charity Accountability.
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Programs

              

Dreams for Kids provide the platform to bring youth together for local and global social projects. From all backgrounds and socioeconomic areas, Dream Leaders are youth who work together on social initiatives, while uniting their peers and those with disabilities at the same time. Dream Leaders provide the opportunity to help others who are less fortunate. In turn, they develop their own leadership and entrepreneurial skills, while discovering social issues that bring purpose and meaning to their lives. Dream Leaders learn and take action. They make a difference in the world, while inspiring their peers to join and help others who are less fortunate.

For the fiscal year ended December 31, 2015, Dreams for Kids's program expenses were:

  
Gen Acct 18,134
holiday 17,122
extreme recess 10,912
dream leaders 4,877
Total Program Expenses: $51,045
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Governance

              

Chief Executive : Thomas Tuohy, Executive Director
Compensation*: 

Chair of the Board: O'Donavan Johnson
Chair's Profession / Business Affiliation: Manager

Co-Chair of the Board : Jeff Johnson

Chair's Profession / Business Affiliation: Bank

Board Size: 6

Paid Staff Size: 2

*Compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

              

Method(s) Used:

direct mail, invitations to fund raising events, print advertisements, television, radio, grant proposals, internet, planned giving arrangements
Fund raising costs were 1% of related contributions. (Related contributions, which totaled $89,418, are donations received as a result of fund raising activities.)
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Tax Status

              

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

              

The following information is based on Dreams for Kids's unaudited financial statements for the fiscal year ended December 31, 2015.

Source of Funds  
contributions received 84,562
holiday 4,411
dream leaders 445
Total Income $89,418


chart



Uses of Funds as a % of Total Expenses

Programs: 56%  Fund Raising: 1%  Administrative: Less than 1%  Other Expenses: 43%

Total income $89,418
Program expenses $51,045
Fund raising expenses 649
Administrative expenses 14
Other Expenses 38,771
Total expenses $90,479
Expenses in Excess of Income (1,061)
Beginning net assets 0
Ending net assets 0
Total liabilities
Total assets $31,179


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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