FURP.ORG / PUBLIC DATA EXPLORER

THE POTOMAC TRUST INC: Form 990, tax year 2024

View the entire original 990 at ProPublica ↗

Organization
THE POTOMAC TRUST INC (EIN 46-3579033)
Tax period
2024-01-01 to 2024-12-31
Filed
2025-05-15
IRS object ID
202541359349314204
Schema version
2024v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2025-05-15T16:57:26-04:00ReturnTs
Tax Period End2024-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN521999052PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1ASKEY ASKEY & ASSOCIATES CPA LLCBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1PO BOX 662AddressLine1Txt
CityLEONARDTOWNCityNm
State AbbreviationMDStateAbbreviationCd
ZIP206500662ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2024-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN463579033EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SCOTLAND STORM COMMUNITYBusinessNameLine1Txt
Business Name Line2DEVELOPMENT INCBusinessNameLine2Txt
FieldValueIRS element (for citing)
Business Name ControlSCOTBusinessNameControlTxt
Phone3019832758PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line18516 BEECH TREE ROADAddressLine1Txt
CityBETHESDACityNm
State AbbreviationMDStateAbbreviationCd
ZIP20817ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHRISTOPHER MEADPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone3019832758PhoneNum
Signature2025-05-12SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCHRISTA L HOOD CPAPreparerPersonNm
PTINP01381023PTIN
Phone3014755671PhoneNum
Preparation2025-05-12PreparationDt
FieldValueIRS element (for citing)
Tax2024TaxYr
Build TS2025-03-06 01:10:19ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerCHRISTOPHER MEADPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line18516 BEECH TREE ROADAddressLine1Txt
CityBETHESDACityNm
State AbbreviationMDStateAbbreviationCd
ZIP20817ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$240,108GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website AddressWWW.SCOTLANDSTORM.ORGWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2013FormationYr
Legal Domicile StateMDLegalDomicileStateCd
Activity Or MissionTO PROMOTE COMMUNITY DEVELOPMENT AND ENHANCE EDUCATIONAL LIFE OPPORTUNITIES FOR YOUTH, THE UNDERPRIVILEGED, AND THE UNDERSERVED, THROUGH A COMBINATION OF CREATIVE FUNDING, SPONSORSHIP, AND ENCOURAGEMENT OF SPORTING, RECREATIONAL, AND EDUCATIONAL PROGRAMS.ActivityOrMissionDesc
Voting Members Governing Body4VotingMembersGoverningBodyCnt
Voting Members Independent3VotingMembersIndependentCnt
Total Employee13TotalEmployeeCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$204,981PYContributionsGrantsAmt
CY Contributions Grants$237,918CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$1,512PYInvestmentIncomeAmt
CY Investment Income$2,066CYInvestmentIncomeAmt
PY Other Revenue$2,480PYOtherRevenueAmt
CY Other Revenue$124CYOtherRevenueAmt
PY Total Revenue$208,973PYTotalRevenueAmt
CY Total Revenue$240,108CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$181,348PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$207,405CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$128CYTotalFundraisingExpenseAmt
PY Other Expenses$38,854PYOtherExpensesAmt
CY Other Expenses$35,579CYOtherExpensesAmt
PY Total Expenses$220,202PYTotalExpensesAmt
CY Total Expenses$242,984CYTotalExpensesAmt
PY Revenues Less Expenses-$11,229PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$2,876CYRevenuesLessExpensesAmt
Total Assets BOY$20,030TotalAssetsBOYAmt
Total Assets EOY$17,154TotalAssetsEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$20,030NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$17,154NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part IIIYes (X)InfoInScheduleOPartIIIInd
MissionTO PROMOTE COMMUNITY DEVELOPMENT AND ENHANCE EDUCATIONAL LIFE OPPORTUNITIES FOR YOUTH, THE UNDERPRIVILEGED, AND THE UNDERSERVED, THROUGH A COMBINATION OF CREATIVE FUNDING, SPONSORSHIP, AND ENCOURAGEMENT OF SPORTING, RECREATIONAL, AND EDUCATIONAL PROGRAMS.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$230,604ExpenseAmt
DescPROVIDED FREE OF CHARGE AFTER SCHOOL AND SUMMER SPORTS AND ACADEMIC TUTORING TO ELEMENTARY AND MIDDLE SCHOOL CHILDREN WHO RESIDE IN A SUBSIDIZED HOUSING COMMUNITY.Desc
Total Program Service Expenses$230,604TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Subject To Proxy TaxfalseSubjectToProxyTaxInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecfalseReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnotefalseIncludeFIN48FootnoteInd
Independent Audit Fincl StmtfalseIndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsfalseGrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityfalseRelatedEntityInd
Related Organization Ctrl EntfalseRelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document1IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee13EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Form8899 FiledindfalseForm8899Filedind
Form1098 C FiledfalseForm1098CFiledInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member3IndependentVotingMemberCnt
Family Or Business RlnYes (true)FamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesYes (true)MinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyfalseConflictOfInterestPolicyInd
Whistleblower PolicyfalseWhistleblowerPolicyInd
Document Retention PolicyfalseDocumentRetentionPolicyInd
Compensation Process CEOfalseCompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldMDStatesWhereCopyOfReturnIsFldCd
Other WebsiteYes (X)OtherWebsiteInd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonLAUREN MEADPersonNm
Phone3019832758PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line18516 BEECH TREE ROADAddressLine1Txt
CityBETHESDACityNm
State AbbreviationMDStateAbbreviationCd
ZIP20817ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (4 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmtOfficerOfficerInd
MARK LONDON
MEMBER1.00Yes (X)$0$0$0
CHRISTOPHER MEAD
PRESIDENT5.00Yes (X)$0$0$0Yes (X)
LAUREN MEAD
VP, CFO TREA5.00Yes (X)$0$0$0Yes (X)
CHARLES SALCETTI
MEMBER1.00Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
Government Grants$39,026GovernmentGrantsAmt
All Other Contributions$198,892AllOtherContributionsAmt
Total Contributions$237,918TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$2,066TotalRevenueColumnAmt
Exclusion$2,066ExclusionAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescMISCELLANEOUSDesc
Total Revenue Column$124TotalRevenueColumnAmt
Exclusion$124ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$124OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$240,108TotalRevenueColumnAmt
Exclusion$2,190ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$192,414TotalAmt
Program Services$192,414ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$14,991TotalAmt
Program Services$14,991ProgramServicesAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$4,465TotalAmt
Management And General$4,465ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$1,426TotalAmt
Management And General$1,426ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
BUS SERVICE$16,901$16,901
PROGRAM SUPPLIES$6,298$6,298
PAYROLL SERVICE FEES$3,761$3,761
DUES & SUBSCRIPTIONS$2,400$2,400

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$328TotalAmt
Management And General$200ManagementAndGeneralAmt
Fundraising$128FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$242,984TotalAmt
Program Services$230,604ProgramServicesAmt
Management And General$12,252ManagementAndGeneralAmt
Fundraising$128FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$2,937BOYAmt
EOY$1,957EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$17,093BOYAmt
EOY$15,197EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$20,030BOYAmt
EOY$17,154EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$20,030BOYAmt
EOY$17,154EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$20,030BOYAmt
EOY$17,154EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$20,030BOYAmt
EOY$17,154EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$2,876ReconcilationRevenueExpnssAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$210,430CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$265,430CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$207,663CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$204,981CurrentTaxYearMinus1YearAmt
Current Tax Year$237,918CurrentTaxYearAmt
Total$1,126,422TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$210,430CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$265,430CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$207,663CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$204,981CurrentTaxYearMinus1YearAmt
Current Tax Year$237,918CurrentTaxYearAmt
Total$1,126,422TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$595,348SubstantialContributorsTotAmt
Public Support Total170$531,074PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$104CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$4CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$433CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$1,512CurrentTaxYearMinus1YearAmt
Current Tax Year$2,066CurrentTaxYearAmt
Total$4,119TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$2,480CurrentTaxYearMinus1YearAmt
Current Tax Year$124CurrentTaxYearAmt
Total$2,604TotalAmt
FieldValueIRS element (for citing)
Total Support$1,133,145TotalSupportAmt
Public Support CY1700.46870PublicSupportCY170Pct
Public Support PY1700.45540PublicSupportPY170Pct
Thirty Thr Pct Suprt Tests CY170Yes (X)ThirtyThrPctSuprtTestsCY170Ind

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferencePART II, LINE 10FormAndLineReferenceDesc
ExplanationMISCELLANEOUS 2,604ExplanationTxt

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (4 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
FORM 990 - ORGANIZATION'S MISSIONTO PROMOTE COMMUNITY DEVELOPMENT AND ENHANCE EDUCATIONAL LIFE OPPORTUNITIES FOR YOUTH, THE UNDERPRIVILEGED, AND THE UNDERSERVED, THROUGH A COMBINATION OF CREATIVE FUNDING, SPONSORSHIP, AND ENCOURAGEMENT OF SPORTING, RECREATIONAL, AND EDUCATIONAL PROGRAMS.
FORM 990, PAGE 6, PART VI, LINE 2CHRISTOPHER MEAD LAUREN MEAD PRESIDENT VP, CFO TREA SPOUSE
FORM 990, PAGE 6, PART VI, LINE 11BA DRAFT COPY OF THE RETURN IS PROVIDED TO THE OFFICERS FOR REVIEW AND COMMENT PRIOR TO FILING THE RETURN.
FORM 990, PAGE 6, PART VI, LINE 19UPON REQUEST