Dream Center Foundation 
The information on this page was last updated 5/22/2023. If you see errors or omissions, please email: [email protected]
Summary
The Dream Center, a volunteer driven organization that finds and fills the needs of individuals and families alike, was founded in 1994 and currently serves over 40,000 people each month.
Outreach Programs: Reaching up to 23 neighborhoods around LA county every week, we provide resources and create relationships with the people of our community.
Residential Programs: With over 500 spaces available to individuals and families, our residential programs provide people the opportunity to rebuild their lives in a safe and structured environment.
Resource Programs: Collaborating with other organizations, we provide further resources and supply the foundational needs that help our residents and communities thrive.
Contact information
Mailing address:
Dream Center Foundation
2301 Bellevue Ave
Los Angeles, CA 90026
Website: dreamcenter.org
Phone: 213-273-7000
Email: [email protected]
Organization details
EIN: 412269686
CEO/President: Caroline Barnett
Chairman: Tommy Barnett
Board size: 12
Founder: Tommy and Caroline Barnett
Ruling year: 2010
Tax deductible: Yes
Fiscal year end: 06/30
Member of ECFA: No
Member of ECFA since:
Purpose
Our Vision: To see everyone live their God-given dream.
Mission statement
Transforming lives and communities through Christ- body, soul, spirit.
Statement of faith
Donor confidence score
Transparency grade
D
To understand our transparency grade, click here.
Financial efficiency ratings
Sector: Rescue Missions/Homeless Shelters
| Category | Rating | Overall rank | Sector rank |
| Overall efficiency rating | | 508 of 1096 | 58 of 145 |
| Fund acquisition rating | | 677 of 1098 | 90 of 145 |
| Resource allocation rating | | 317 of 1098 | 36 of 145 |
| Asset utilization rating | | 574 of 1096 | 74 of 145 |
Financial ratios
| Funding ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Return on fundraising efforts Return on fundraising efforts = Fundraising expense / Total contributions | 11% | 13% | 8% | 9% | 1% | 0% |
Fundraising cost ratio Fundraising cost ratio = Fundraising expense / Total revenue | 9% | 12% | 8% | 9% | 1% | 0% |
Contributions reliance Contributions reliance = Total contributions / Total revenue | 92% | 98% | 98% | 98% | 98% | 99% |
Fundraising expense ratio Fundraising expense ratio = Fundraising expense / Total expenses | 11% | 12% | 8% | 9% | 1% | 0% |
Other revenue reliance Other revenue reliance = Total other revenue / Total revenue | 8% | 2% | 2% | 2% | 2% | 1% |
| Operating ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Program expense ratio Program expense ratio = Program services / Total expenses | 79% | 83% | 88% | 81% | 86% | 89% |
Spending ratio Spending ratio = Total expenses / Total revenue | 87% | 100% | 103% | 99% | 103% | 96% |
Program output ratio Program output ratio = Program services / Total revenue | 69% | 83% | 90% | 80% | 89% | 85% |
Savings ratio Savings ratio = Surplus (deficit) / Total revenue | 13% | 0% | -3% | 1% | -3% | 4% |
Reserve accumulation rate Reserve accumulation rate = Surplus (deficit) / Net assets | 8% | 0% | -2% | 1% | -2% | 2% |
General and admin ratio General and admin ratio = Management and general expense / Total expenses | 9% | 4% | 5% | 10% | 13% | 11% |
| Investing ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Total asset turnover Total asset turnover = Total expenses / Total assets | 0.52 | 0.43 | 0.77 | 0.65 | 0.58 | 0.33 |
Degree of long-term investment Degree of long-term investment = Total assets / Total current assets | 2.67 | 1.49 | 1.00 | 1.00 | 1.00 | 1.00 |
Current asset turnover Current asset turnover = Total expenses / Total current assets | 1.64 | 0.64 | 0.77 | 0.65 | 0.58 | 0.33 |
| Liquidity ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Current ratio Current ratio = Total current assets / Total current liabilities | 14.49 | 120.25 | 204.80 | 239.04 | 274.64 | 89.96 |
Current liabilities ratio Current liabilities ratio = Total current liabilities / Total current assets | 0.07 | 0.01 | 0.00 | 0.00 | 0.00 | 0.01 |
Liquid reserve level Liquid reserve level = (Total current assets - Total current liabilities) / (Total expenses / 12) | 6.47 | 18.60 | 15.55 | 18.33 | 20.57 | 35.62 |
| Solvency ratios | Sector median | 2022 | 2021 | 2020 | 2019 | 2018 |
Liabilities ratio Liabilities ratio = Total liabilities / Total assets | 7% | 34% | 1% | 2% | 2% | 35% |
Debt ratio Debt ratio = Debt / Total assets | 0% | 0% | 0% | 0% | 0% | 34% |
Reserve coverage ratio Reserve coverage ratio = Net assets / Total expenses | 163% | 154% | 129% | 151% | 169% | 195% |
Financials
| Balance sheet | |||||
| Assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Cash | $441,341 | $234,058 | $1,139,905 | $480,670 | $1,015,963 |
| Receivables, inventories, prepaids | $34,949,429 | $34,949,429 | $35,080,000 | $35,352,766 | $55,442,946 |
| Short-term investments | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $35,390,770 | $35,183,487 | $36,219,905 | $35,833,436 | $56,458,909 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Fixed assets | $900 | $1,500 | $2,100 | $3,954 | $2,208 |
| Other long-term assets | $17,437,531 | $0 | $0 | $87,047 | $0 |
| Total long-term assets | $17,438,431 | $1,500 | $2,100 | $91,001 | $2,208 |
| Total assets | $52,829,201 | $35,184,987 | $36,222,005 | $35,924,437 | $56,461,117 |
| Liabilities | 2022 | 2021 | 2020 | 2019 | 2018 |
| Payables and accrued expenses | $294,315 | $171,795 | $151,523 | $130,474 | $127,634 |
| Other current liabilities | $0 | $0 | $0 | $0 | $500,000 |
| Total current liabilities | $294,315 | $171,795 | $151,523 | $130,474 | $627,634 |
| Debt | $0 | $0 | $0 | $0 | $19,139,316 |
| Due to (from) affiliates | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $17,587,531 | $150,000 | $505,700 | $500,000 | $0 |
| Total long-term liabilities | $17,587,531 | $150,000 | $505,700 | $500,000 | $19,139,316 |
| Total liabilities | $17,881,846 | $321,795 | $657,223 | $630,474 | $19,766,950 |
| Net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Without donor restrictions | $34,947,355 | $34,863,192 | $35,564,782 | $35,293,963 | $36,694,167 |
| With donor restrictions | $0 | $0 | $0 | $0 | $0 |
| Net assets | $34,947,355 | $34,863,192 | $35,564,782 | $35,293,963 | $36,694,167 |
| Revenues and expenses | |||||
| Revenue | 2022 | 2021 | 2020 | 2019 | 2018 |
| Total contributions | $22,189,191 | $25,786,672 | $23,392,061 | $19,928,839 | $19,389,585 |
| Program service revenue | $0 | $0 | $0 | $0 | $0 |
| Membership dues | $0 | $0 | $0 | $0 | $0 |
| Investment income | $522,494 | $522,612 | $582,601 | $356,401 | $349,053 |
| Other revenue | $0 | $0 | $0 | $0 | ($90,185) |
| Total other revenue | $522,494 | $522,612 | $582,601 | $356,401 | $258,868 |
| Total revenue | $22,711,685 | $26,309,284 | $23,974,662 | $20,285,240 | $19,648,453 |
| Expenses | 2022 | 2021 | 2020 | 2019 | 2018 |
| Program services | $18,831,855 | $23,678,053 | $19,098,174 | $17,978,638 | $16,656,778 |
| Management and general | $995,221 | $1,263,398 | $2,465,687 | $2,707,495 | $2,143,035 |
| Fundraising | $2,814,101 | $2,069,505 | $2,053,032 | $138,629 | $8,978 |
| Total expenses | $22,641,177 | $27,010,956 | $23,616,893 | $20,824,762 | $18,808,791 |
| Change in net assets | 2022 | 2021 | 2020 | 2019 | 2018 |
| Surplus (deficit) | $70,508 | ($701,672) | $357,769 | ($539,522) | $839,662 |
| Other changes in net assets | $0 | $0 | $0 | $0 | $0 |
| Total change in net assets | $70,508 | ($701,672) | $357,769 | ($539,522) | $839,662 |
Compensation
| Name | Title | Compensation |
| Pastor Tommy Barnett | Chairman | $78,306 |
| Pastor Caroline Barnett | Executive Di | $75,529 |
Compensation data as of: 6/30/2022
Response from ministry
No response has been provided by this ministry.
The information below was provided to MinistryWatch by the ministry itself. It was last updated 5/22/2023. To update the information below, please email: [email protected]