2025-05-05T12:11:39-05:00 2024-06-30 582487348 Aprio Advisory Group LLC 111 Rockville Pike Suite 600 Rockville MD 20850 990 2023-07-01 540562160 The Potomac School POTO 7033564100 1301 Potomac School Road McLean VA 22101 John Kowalik Head of School 7033564100 2025-05-05 1 0 Stacy Cullen P00974308 3012316200 2025-05-05 2023 2025-03-06 01:10:19Z John Kowalik 1301 Potomac School Road McLean VA 22101 113287440 0 X www.potomacschool.org X 1907 DC At The Potomac School, we believe that intellectual development, love of learning, and strength of character are complementary, and equally essential, educational goals. With a firm commitment to our core values and a rigorous academic program, we prepare students to lead lives of purpose, achievement, and generosity of spirit. 22 22 519 1000 18102 4111 4923269 13165217 52574800 54773096 1140245 2875151 1624418 731207 60262732 71544671 5817219 5619264 0 0 32698345 32799064 47671 19970 1985561 17772956 19303429 56336191 57741727 3926541 13802944 227941058 246436798 73810814 73668860 154130244 172767938 X At The Potomac School, we believe that intellectual development, love of learning, and strength of character are complementary, and equally essential, educational goals. With a firm commitment to our core values and a rigorous academic program, we prepare students to lead lives of purpose, achievement, and generosity of spirit. 0 0 48866115 5619264 54754994 Providing education from kindergarten to the twelfth grade for approximately 1070 students. 48866115 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 106 0 1 519 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 VA X Dyana Conroy 7033564100 1301 Potomac School Road McLean VA 22101 Norma C Ramsey Chair 2.00 X X 0 0 0 Natalie F Bush Vice Chair 2.00 X X 0 0 0 Martin W Sumner Treasurer 2.00 X X 0 0 0 Tanya LR La Force Secretary 2.00 X X 0 0 0 Noha Abdalla Trustee 2.00 X 0 0 0 Yousef Al Otaiba Trustee 2.00 X 0 0 0 Randy Altschuler Trustee 2.00 X 0 0 0 Victoria Davis Trustee 2.00 X 0 0 0 Ellen M Dwyer Trustee 2.00 X 0 0 0 Mina C Faltas Trustee 2.00 X 0 0 0 James B Fleming Trustee 2.00 X 0 0 0 Christopher D Graham Trustee 2.00 X 0 0 0 Nitin Goyal Trustee 2.00 X 0 0 0 Won Kim Trustee 2.00 X 0 0 0 Kimberly A Kuryea Trustee 2.00 X 0 0 0 Reed W Landry Trustee 2.00 X 0 0 0 Maryanne R Lavan Trustee 2.00 X 0 0 0 Robert D Moser Trustee 2.00 X 0 0 0 Patricia Potts Trustee 2.00 X 0 0 0 Paul F Sheridan Jr Trustee 2.00 X 0 0 0 Sarah Murphy Starr Trustee 2.00 X 0 0 0 Stefanie A Thomas Trustee 2.00 X 0 0 0 John J Kowalik Head of School 60.00 X 622545 0 325263 Dyana Conroy CFO/COO 60.00 X 402732 0 86676 Timothy Jaeger Associate Head of School 50.00 X 303100 0 141669 Barbara Overstreet Director of Advancement 50.00 X 260274 0 47686 John Mathews Head of Middle School 50.00 X 194234 0 92743 Douglas McLane Head of Upper School 50.00 X 180727 0 96126 Donnette Echols Head of Lower School 50.00 X 194389 0 41068 2158001 0 831231 72 0 1 0 Meriwether Godsey Inc 4944 Old Boonsboro Road Lynchburg VA 24503 Food Services 1695239 Cannon Washington Inc Department Chicago 19824 Palatine IL 60055 Architecture Services 857729 Red Coats Inc PO Box 79579 Baltimore MD 21279 Janitorial Services 804147 The Handwork Studio LLC PO Box 1114 Media PA 190630814 Auxiliary Programs 324368 Cypress Contracting LLC 23465 Rock Haven Way Suite 130 Dulles VA 201664433 General Contractor 295330 15 941220 12223997 2635318 13165217 Tuition 900099 50474999 50474999 Summer Programs 900099 2715880 2715880 Transportation 900099 1097065 1078963 18102 Enrichment Program 900099 320674 320674 Extended Day 900099 111738 111738 52740 52740 54773096 1871720 1871720 16745 0 16745 16745 16745 42478004 1500 41476073 0 1001931 1500 1003431 1003431 807050 941220 266696 540354 540354 3961 0 3961 3961 Miscellaneous 900099 170147 170147 170147 71544671 54754994 18102 3606358 5619264 5619264 1323585 1159055 112208 52322 25020957 21922168 2141693 957096 1567969 1370925 129102 67942 3040286 2658218 250330 131738 1846267 1634427 147494 64346 86493 50854 22353 13286 84320 49577 21791 12952 19970 19970 172225 172225 1625090 1126876 463537 34677 72728 48393 22071 2264 865026 561532 152828 150666 801362 579387 203840 18135 2278142 1648733 577986 51423 372250 371917 333 670377 456886 47157 166334 903670 603795 275376 24499 4370722 2920336 1331891 118495 531394 388248 131451 11695 Departmental Expenses 1714365 1687299 24855 2211 Food and Entertainment 1551305 1036517 472730 42058 Tuition Remission 1466213 1289600 176613 Summer Program - Direct 1278964 1278964 458783 403144 12520 43119 57741727 48866115 6890051 1985561 800 800 53763488 48540798 2648747 3437183 113079 241775 61096 55226 1026476 739379 163072388 58343787 101613368 104728601 41774 15054407 45354932 50155425 23317298 23483204 227941058 246436798 4366883 4580852 25146820 26247626 20533303 19175795 23763808 23664587 73810814 73668860 X 144774449 153977857 9355795 18790081 154130244 172767938 227941058 246436798 X 13802944 4661580 173170 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 66767285 843089 5158627 3689084 69079917 62576002 2316595 3346725 1472037 66767285 62134652 5315479 -2991007 1883122 62576002 52840311 278776 10765467 1749902 62134652 50026524 3975401 212794 1374408 52840311 0.91570 0.04610 0.03820 0 0 12305985 12305985 133306647 46007360 87299287 10716771 9460836 1255935 6742985 2875591 3867394 104728601 Limited Partnerships 14383245 F Common Fund Investments 34904530 F Starwood REIT 867650 F 50155425 Tuition Contract Receivables 21992028 Right-of-Use Asset 416996 Deposits 29900 Deferred Compensation 907217 Accrued Interest 137063 23483204 Deferred Contract Liability 21992028 Deferred Compensation 907217 Interest Rate Agreements, Net 347364 Finance Lease Liabilities, Net 304860 Operating Lease Liabilities, Net 113118 23664587 X 70413262 4661580 4661580 65751682 172225 5620764 5792989 71544671 51948738 0 51948738 172225 5620764 5792989 57741727 Part V, Line 4: Endowment funds are used to provide financial aid, purchase library books, frame student artwork, fund community service, faculty salaries, and enrichment, science programs, theater and music, global studies, and support the school priorities of excellent teaching, student scholarships, and academic programs and resources. Part X, Line 2: The School evaluates uncertainty in income tax positions based on a more-likely-than-not recognition standard. If that threshold is met, the tax position is then measured at the largest amount that is greater than 50% likely of being realized upon ultimate settlement. As of June 30, 2024 and 2023, there are no accruals for uncertain tax positions. If applicable, the School records interest and penalties as a component of income tax expense. Tax years from 2021 through the current year remain open for examination by federal, state and local jurisdictions. Part XI, Line 4b - Other Adjustments: Financial Aid 5,619,264. Gain on Disposal of Assets 1,500. Part XII, Line 4b - Other Adjustments: Financial Aid 5,619,264. Gain on Disposal of Assets 1,500. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 Schedule E, Part I, Line 3 An announcement is printed in the Washington Post newspaper. Central America and the Caribbean 0 0 Investments 323630 0 0 0 0 0 0 323630 0 323630 0 0 0 0 0 0 X X X X X 1 Graham-Pelton Consulting Inc 39 Beechwood Road Summit NJ 07901 Fundraising Consulting Services 0 0 19970 19970 19970 19970 VA Spring Auction 1649099 929870 719229 213124 Fall Frolics Carnival 99171 11350 87821 53572 1748270 941220 807050 266696 266696 540354 1 Financial Aid Awards to Students 193 5619264 Part I, Line 2: The Potomac School utilizes the services of Clarity, to help evaluate each student's needs for financial assistance. Each applicant completes a standardized form and an evaluation is produced, which includes recommendations as to the level of financial assistance required. The School uses these reports as a guide to determine which students require financial assistance and an estimate of that need. X X 1 1 X X X X 0 1 0 0 0 0 0 1 0 John J Kowalik Head of School 608931 0 0 0 13614 0 216246 0 109017 0 947808 0 0 0 Dyana Conroy CFO/COO 359029 0 0 0 43703 0 50400 0 36276 0 489408 0 25000 0 Timothy Jaeger Associate Head of School 276418 0 0 0 26682 0 47869 0 93800 0 444769 0 25000 0 Barbara Overstreet Director of Advancement 256710 0 0 0 3564 0 22528 0 25158 0 307960 0 0 0 John Mathews Head of Middle School 182427 0 0 0 11807 0 17313 0 75430 0 286977 0 10000 0 Douglas McLane Head of Upper School 180131 0 0 0 596 0 15221 0 80905 0 276853 0 0 0 Donnette Echols Head of Lower School 173536 0 0 0 20853 0 12548 0 28520 0 235457 0 0 0 Part I, Line 1a John Kowalik received gross-ups in the amount of $10,050 related to insurance benefits. The School compensates the Head of School and various department heads. The School provides the Head of School and various department heads with housing. The rental value reflects the fair market value for comparable houses in the area. The transactions were approved by the board of trustees with adequate documentation. Following employees received nontaxable housing allowance: John Kowalik - $68,979 Timothy Jaeger - $60,000 John Mathews - $41,421 Douglas McLane - $48,000 Donnette Echols received taxable housing and relocation benefits in the amount of $12,500. Part I, Line 4b The following employees participated in a supplemental nonqualified retirement plan 457(F) and the school made the following contributions during the calendar year: - J. Kowalik: $168,346 - D. Conroy: $25,000 - T. Jaeger: $25,000 The following employees received payments from a supplemental nonqualified retirement plan 457(F) during the calendar year: - D. Conroy: $29,220 - T. Jaeger: $24,412 - J. Matthews: $10,882 A Fairfax County Economic Development Authority 540787833 2004-07-12 16430000 Redemption of prior bonds and school construction 0 0 0 B Fairfax County Economic Development Authority 540787833 2005-08-04 20570000 Construction of new upper school building 0 0 0 A 8115500 16430000 16430000 2004 1 0 1 1 B 9580084 20570000 20570000 2006 0 0 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 1 1 PNC Bank 28.000000000000 0 0 0 0 1 A 1 B 1 X 21 207908 FMV X 1 2427410 FMV 0 0 1 0 Part I, Column (b): The number reported in column (b) represents the number of contributions received. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed and approved by the audit committee; after that it goes to the full board for review and approval. Form 990, Part VI, Section B, line 12c For key employees where a potential conflict of interest exists, it shall be the responsibility of the person involved or any other person with knowledge to notify the head of school of the circumstances resulting in the potential conflict so that it can be communicated to the board of trustees who can, in counsel with the head of school, then provide such guidance and take such action as they shall deem appropriate. This statement shall be signed annually by all key employees. For board of trustees: where a potential conflict of interest exists, it shall be the responsibility of the person involved or any other person with knowledge to notify the chair and vice chair of the board of trustees as well as the chair of the committee on trustees of the circumstances resulting in the potential conflict so that the board of trustees can provide such guidance and take such action as it shall deem appropriate. This statement shall be signed annually by all trustees. Form 990, Part VI, Section B, line 15 The compensation committee reviews and discusses the total compensation packages of the head of school and school administrators. Salary information only for similar positions from comparable schools are used to establish a reasonable compensation. The committee has the authority to approve the compensation package of the head of school and school administrators on an annual basis. Form 990, Part VI, Section C, line 19 A public inspection file is maintained onsite that includes the Form 990, governing documents, conflict of interest policy, and financial statements. Form 990, Part XI, line 9: Interest Rate Agreements Gain 173,170. Form 990, Part XII, Line 2c: There were no changes to the organization's oversight process or selection process during the year.