Impossible Dream Inc

Warwick, RI
Tax-exempt since May 1983
EIN: 05-0400340

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Type of Nonprofit

Designated as a 501(c)(3) Organizations for any of the following purposes: religious, educational, charitable, scientific, literary, testing for public safety, fostering national or international amateur sports competition (as long as it doesn't provide athletic facilities or equipment), or the prevention of cruelty to children or animals.

Donations to this organization are tax deductible.

Revenue

$101k (2024)

Expenses

$111k (2024)

Total Assets

$60.3k (2024)

Total Liabilities

$51.8k (2024)

Source: Form 990 tax filings from 2011 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2024

Revenue

$100,622

Expenses

$111,481

Net Income

-$10,859

Net Assets

$8,417

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$99,347	98.7%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$700	0.7%
Net Inventory Sales	$0
Other Revenue	$575	0.6%

Assets/Debt
Total Assets	$60,260
Total Liabilities	$51,843
Net Assets	$8,417

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$21,250	$0
Jean Winter Mcgowan (President)	$0	$0
Rosemarie Fontaine (Vice President)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
Adam Shaked (Director)	$0	$0
John Mcgowan (Secretary)	$0	$0

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990-EZ

Filed on Nov. 5, 2025

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Fiscal Year Ending Dec.
2023

Revenue

$129,334

Expenses

$142,275

Net Income

-$12,941

Net Assets

$18,125

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$128,746	99.5%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$101	0.1%
Net Inventory Sales	$0
Other Revenue	$487	0.4%

Assets/Debt
Total Assets	$70,112
Total Liabilities	$51,987
Net Assets	$18,125

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$44,200	$0
Jean Winter Mcgowan (President)	$0	$0
Rosemarie Fontaine (Vice President)	$0	$0
Helen Lilly (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
John Mcgowan (Director)	$0	$0
Linda Malafronte (Director)	$0	$0
Adam Shaked (Director)	$0	$0

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990-EZ

Filed on Nov. 7, 2024

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Fiscal Year Ending Dec.
2022

Revenue

$137,977

Expenses

$158,820

Net Income

-$20,843

Net Assets

$28,829

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$136,665	99.0%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$958	0.7%
Net Inventory Sales	$0
Other Revenue	$354	0.3%

Assets/Debt
Total Assets	$83,016
Total Liabilities	$54,187
Net Assets	$28,829

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$43,563	$0
Jean Winter Mcgowan (President)	$0	$0
Rosemarie Fontaine (Vice President)	$0	$0
Helen Lilly (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
John Mcgowan (Director)	$0	$0
Linda Malafronte (Director)	$0	$0

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990-EZ

Filed on Nov. 13, 2023

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Fiscal Year Ending Dec.
2021

Revenue

$102,442

Expenses

$118,061

Net Income

-$15,619

Net Assets

$54,443

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$102,088	99.7%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$354	0.3%

Assets/Debt
Total Assets	$109,443
Total Liabilities	$55,000
Net Assets	$54,443

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$24,268	$0
Jean Winter Mcgowan (President)	$0	$0
Rosemarie Fontaine (Vice President)	$0	$0
Helen Lilly (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
Mary Rasone (Director)	$0	$0
Linda Malafronte (Director)	$0	$0

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990-EZ

Filed on Oct. 27, 2022

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Fiscal Year Ending Dec.
2020

Revenue

$80,482

Expenses

$99,460

Net Income

-$18,978

Net Assets

$67,405

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$80,034	99.4%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$131	0.2%
Net Inventory Sales	$0
Other Revenue	$317	0.4%

Assets/Debt
Total Assets	$75,414
Total Liabilities	$8,009
Net Assets	$67,405

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$16,150	$0
Jean Winter Mcgowan (President)	$0	$0
Mary Rasone (Vice President)	$0	$0
Rosemarie Fontaine (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
Helen Lilly (Director)	$0	$0
Linda Malafronte (Director)	$0	$0

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990-EZ

Filed on Nov. 10, 2021

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Fiscal Year Ending Dec.
2019

Revenue

$120,120

Expenses

$173,483

Net Income

-$53,363

Net Assets

$84,563

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$118,784	98.9%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$851	0.7%
Net Inventory Sales	$0
Other Revenue	$485	0.4%

Assets/Debt
Total Assets	$93,881
Total Liabilities	$9,318
Net Assets	$84,563

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$42,500	$0
Jean Mcgowan (President)	$0	$0
Mary Rasone (Vice President)	$0	$0
Rosemarie Fontaine (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
Helen Lilly (Director)	$0	$0
Linda Malafronte (Director)	$0	$0

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990-EZ

Filed on Nov. 13, 2020

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Fiscal Year Ending Dec.
2018

Revenue

$148,687

Expenses

$180,412

Net Income

-$31,725

Net Assets

$135,351

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$128,924	86.7%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$1,886	1.3%
Net Inventory Sales	$0
Other Revenue	$17,877	12.0%

Assets/Debt
Total Assets	$135,351
Total Liabilities	$0
Net Assets	$135,351

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$44,331	$0
Jean Mcgowan (President)	$0	$0
Mary Rosone (Vice President)	$0	$0
Rosmarie Fontaine (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
Helen Lilly (Director)	$0	$0
Linda Malafronte (Director)	$0	$0

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990-EZ

Filed on Nov. 8, 2019

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Fiscal Year Ending Dec.
2017

Revenue

$177,855

Expenses

$183,539

Net Income

-$5,684

Net Assets

$171,652

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$176,247	99.1%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,608	0.9%

Assets/Debt
Total Assets	$171,652
Total Liabilities	$0
Net Assets	$171,652

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$44,200	$0
Jean Mcgowan (President)	$0	$0
Mary Rosone (Vice President)	$0	$0
Rosmarie Fontaine (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
Helen Lilly (Director)	$0	$0
Linda Malafronte (Director)	$0	$0

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990-EZ

Filed on Nov. 13, 2018

Short form tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2016

Revenue

$131,697

Expenses

$172,739

Net Income

-$41,042

Net Assets

$175,844

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$130,522	99.1%
Program Services	$0
Investment Income	$0
Net Fundraising	$0
Sales of Assets	$0
Net Inventory Sales	$0
Other Revenue	$1,175	0.9%

Assets/Debt
Total Assets	$175,844
Total Liabilities	$0
Net Assets	$175,844

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$36,667	$0
Jean Mcgowan (President)	$0	$0
Mary Rosone (Vice President)	$0	$0
Rosmarie Fontaine (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
Helen Lilly (Director)	$0	$0
Linda Malafronte (Director)	$0	$0

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990-EZ

Filed on Nov. 14, 2017

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Fiscal Year Ending Dec.
2015

Revenue

$198,643

Expenses

$170,940

Net Income

$27,703

Net Assets

$216,021

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$198,441	99.9%
Program Services	$0
Investment Income	$177	0.1%
Net Fundraising	$0
Sales of Assets	$25	0.0%
Net Inventory Sales	$0
Other Revenue	$0

Assets/Debt
Total Assets	$216,287
Total Liabilities	$266
Net Assets	$216,021

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$35,298	$0
Jean Mcgowan (President)	$0	$0
Linda Malafronte (Vice President)	$0	$0
Mary Rasone (Secretary)	$0	$0
Lynn Kilkenny (Treasurer)	$0	$0
Susan Coutu (Director)	$0	$0
Kevin Audette (Director)	$0	$0

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990-EZ

Filed on Nov. 7, 2016

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Fiscal Year Ending Dec.
2014

Revenue

$120,418

Expenses

$142,003

Net Income

-$21,585

Net Assets

$188,686

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$112,403	93.3%
Program Services	$0
Investment Income	$766	0.6%
Net Fundraising	$0
Sales of Assets	$1,647	1.4%
Net Inventory Sales	$0
Other Revenue	$5,602	4.7%

Assets/Debt
Total Assets	$196,030
Total Liabilities	$7,344
Net Assets	$188,686

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$25,794	$0
Jean Mcgowan (President)	$0	$0
Tina Ledo (Vice President)	$0	$0
Elizabeth Altieri (Secretary)	$0	$0
Sandra Mercurio (Treasurer)	$0	$0
Richard Ledo (Director)	$0	$0
Susan Coutu (Director)	$0	$0
Kevin Audette (Director)	$0	$0

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990-EZ

Filed on Nov. 13, 2015

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Fiscal Year Ending Dec.
2013

Revenue

$95,840

Expenses

$120,010

Net Income

-$24,170

Net Assets

$212,118

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$93,033	97.1%
Program Services	$0
Investment Income	$821	0.9%
Net Fundraising	$0
Sales of Assets	$1,986	2.1%
Net Inventory Sales	$0
Other Revenue	$0

Assets/Debt
Total Assets	$221,695
Total Liabilities	$9,577
Net Assets	$212,118

Compensation

Key Employees and Officers	Compensation	Other
Diane Florio Penza (Executive Director)	$20,364	$0
Jean Mcgowan (President)	$0	$0
Tina Ledo (Vice President)	$0	$0
Elizabeth Altieri (Secretary)	$0	$0
Sandra Mercurio (Treasurer)	$0	$0
Richard Ledo (Director)	$0	$0
Susan Coutu (Director)	$0	$0
Kevin Audette (Director)	$0	$0

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990-EZ

Filed on Nov. 10, 2014

Short form tax return for a nonprofit’s activities, finances, and governance

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Fiscal Year Ending Dec.
2012

Revenue

$138,076

Expenses

$173,924

Net Income

-$35,848

Net Assets

$236,214

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$133,652	96.8%
Program Services	$0
Investment Income	$206	0.1%
Net Fundraising	$0
Sales of Assets	$4,218	3.1%
Net Inventory Sales	$0
Other Revenue	$0

Assets/Debt
Total Assets	$246,035
Total Liabilities	$9,821
Net Assets	$236,214

990-EZ

Short form tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$131,166

Expenses

$168,645

Net Income

-$37,479

Net Assets

$273,688

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$125,326	95.5%
Program Services	$0
Investment Income	$194	0.1%
Net Fundraising	$0
Sales of Assets	$5,134	3.9%
Net Inventory Sales	$0
Other Revenue	$512	0.4%

Assets/Debt
Total Assets	$283,389
Total Liabilities	$9,701
Net Assets	$273,688

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

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Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

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Impossible Dream Inc

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $101k (2024)

Expenses $111k (2024)

Total Assets $60.3k (2024)

Total Liabilities $51.8k (2024)

Tax Filings by Year

Fiscal Year Ending Dec. 2024

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2023

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

990-EZ

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from 990-EZ

Compensation

Document Links

Revenue

$101k (2024)

Expenses

$111k (2024)

Total Assets

$60.3k (2024)

Total Liabilities

$51.8k (2024)

Fiscal Year Ending Dec.
2024

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2023

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2022

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