Overview
What is Dreamspring?
Dreamspring is a nonprofit Community Development Financial Institution (CDFI) and U.S. Small Business Administration (SBA) lender based in Albuquerque, New Mexico. Established in 1994, the organization focuses on economic inclusion and strengthening underserved communities by providing rapid access to capital and customized support to small business owners in 27 states. Dreamspring targets communities including people of color, women, low- to moderate-income earners, people with disabilities, and start-ups. With a team of 76 employees, the organization has issued over 48,796 loans totaling over $538 million and created or sustained approximately 65,138 jobs. Dreamspring's mission is to expand access to business credit, make loans, and offer training to empower underserved entrepreneurs, enabling them to thrive and contribute to positive economic and social change. In 2022, Dreamspring made 4,093 loans for $71.6 million, generating 10,869 jobs.
Official website here: www.dreamspring.org
Is Dreamspring legitimate?
Dreamspring is a legitimate nonprofit organization registered as a 501(c)(3) entity. Dreamspring submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Here are some key statistics you may want to consider:
Executive Compensation: $1,181,352
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,981,858
For more financial information, click here
Official website here: www.dreamspring.org
What is the mission statement of Dreamspring?
Dreamspring is a nonprofit Community Development Financial Institution (CDFI) and Small Business Administration (SBA) lender devoted to enhancing economic opportunities for underprivileged communities. Founded in 1994, it offers quick access to capital and customized support to small business owners in 27 states. The organization focuses on communities with people of color, women, low- to moderate-income earners, individuals with disabilities, and start-ups. Dreamspring has issued over 48,796 loans worth over $538 million, supporting an estimated 65,138 jobs. By increasing access to business credit, making loans, and providing training, Dreamspring empowers underserved entrepreneurs to bring their dreams to life and spur positive economic and social change. In 2022, Dreamspring made 4,093 loans, totaling $71.6 million, which created or sustained 10,869 jobs.
Official website here: www.dreamspring.org
Who is the CEO of Dreamspring?
Suzette M Longfellow is the Secretary/Imm Past Chair of Dreamspring. The CEO's salary of Dreamspring is $298,427 and their total compensation is $309,809.
Official website here: www.dreamspring.org
What is the revenue of Dreamspring?
Who are the executives of Dreamspring and what are their salaries?
The average compensation at Dreamspring during 2022 was $67,937. There are 76 employees and 14 volunteers at Dreamspring.
Here are 19 key members and their salaries (Dreamspring's CEO's salary is $298,427 and their total compensation is $309,809):
- Anne Haines (President & Ceo)
- Francisco Lopez (Chief Operations And Innovation Officer)
- Suzette M Longfellow (Chief Financial Officer)
- Margaret Smith (Chief Lending And Client Exp Officer)
- Marisa Barrera (Chief Impact Officer)
- Brian Daskalovitz (Director Of Risk)
- Evan Maxon (Director Of Operations And)
- Analisa Smith (Director Of Finance)
- Marcie Chavez (Director Of People And Culture)
- Darcie Defoe (Director Of Marketing)
- Yashoda Naidoo (Secretary/Imm Past Chair) [Trustee/Director]
- Bill Ridenour (Treasurer) [Trustee/Director]
- Edmond Johnson (Chair) [Trustee/Director]
- Betty Arkell (Director)
- Virginia Bayless (Director)
- Jerrie Merritt (Director)
- Irv Ashford Jr (Director)
- Anthony Sharett (Director)
- Alice Rodriguez (Director)
Official website here: www.dreamspring.org
Where can I find the form 990 for Dreamspring?
The Dreamspring’s most recent form 990 was submitted in 2022 and can be accessed here
Official website here: www.dreamspring.org
Learn more at the official website: www.dreamspring.org
Mission Statement of Dreamspring
Dreamspring, a community development financial institution and U.S. Small Business Administration lender, is committed to fostering economic growth and strengthening underserved communities by providing underrepresented entrepreneurs with rapid access to capital and customized support. Founded in 1994, this nonprofit organization operates in 27 states and focuses on supporting small businesses owned by people of color, women, low- to moderate-income earners, people with disabilities, and start-ups. To date, Dreamspring has issued over 48,796 loans totaling more than $538 million, creating or sustaining approximately 65,138 jobs.
Dreamspring's mission is to expand business credit access, make loans, and deliver training that empowers underprivileged entrepreneurs to bring their dreams to life and become catalysts for positive economic and social change. The organization's loan programs enable small businesses to operate, grow, or start, helping entrepreneurs thrive in their endeavors. In 2022, Dreamspring granted 4,093 loans worth $71.6 million, generating 10,869 new jobs. Through its innovative financial solutions and comprehensive support services, Dreamspring plays a vital role in uplifting communities and fostering economic opportunity for those who might otherwise face significant barriers to success.
Impact
This information is meant to be a general summary of Dreamspring. Please take the time to review official sources before making any decisions based upon the content provided here.
Thursday, August 15, 2024
Dreamspring's impact is profound, as it accelerates economic inclusion and strength in underserved communities across 27 states. By providing rapid access to capital and customized support, Dreamspring has issued over 48,796 loans totaling more than $538 million. This support has not only helped small business owners but has also contributed to the creation and sustenance of an estimated 65,138 jobs. Through their commitment to communities of color, women, low- to moderate-income earners, individuals with disabilities, and startups, Dreamspring acts as a catalyst for positive economic and social change, empowering underserved entrepreneurs to realize their dreams and thrive.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Assets and Liabilities:
Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SBA PPP LENDING FEES
Revenue
$11,769,174
LOAN INTEREST AND FEES
Revenue
$5,995,348
SECURED DEBT
Revenue
$107,378
Organization Details
Founding Year
1994
Phone
(505) 243-8844
Principal Officer
Suzette M Longfellow
Main Address
2000 ZEARING AVENUE NW, ALBUQUERQUE, NM, 87104
Website
www.dreamspring.org
NTEE Category
Code: S43B - Community improvement
If you are a representative of Dreamspring and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.