STRATEGY STUDIO / PUBLIC DATA EXPLORER

THE POTOMAC TRUST INC: Form 990, tax year 2016

View the entire original 990 at ProPublica ↗

Organization
THE POTOMAC TRUST INC (EIN 46-3579033)
Tax period
2016-01-01 to 2016-12-31
Filed
2017-02-13
IRS object ID
201700449349301980
Schema version
2016v3.0
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)
Return2017-02-13T14:48:00-05:00ReturnTs
Tax Period End2016-12-31TaxPeriodEndDt

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 Begin2016-01-01TaxPeriodBeginDt

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

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
Signature2017-02-10SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCATHERINE A ASKEYPreparerPersonNm
PTINP00059612PTIN
Phone3014755671PhoneNum
Preparation2017-02-07PreparationDt

Filing Security Information FilingSecurityInformation

FieldValueIRS element (for citing)
At Submission Creation Device IdAED6ADB400E5460F53F64E7A0AFCAB0D22CCC447AtSubmissionCreationDeviceId
At Submission Filing Device IdCC70CB69349788BAE73736E6F3617F7207F5C4F9AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2016TaxYr
Build TS2021-01-29 14:40:06ZBuildTS

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$214,152GrossReceiptsAmt
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 Independent1VotingMembersIndependentCnt
Total Employee11TotalEmployeeCnt
Total Volunteers75TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$214,729PYContributionsGrantsAmt
CY Contributions Grants$214,141CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$2PYInvestmentIncomeAmt
CY Investment Income$11CYInvestmentIncomeAmt
PY Other Revenue$109PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$214,840PYTotalRevenueAmt
CY Total Revenue$214,152CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$152,770PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$167,396CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$3,835CYTotalFundraisingExpenseAmt
PY Other Expenses$38,860PYOtherExpensesAmt
CY Other Expenses$37,228CYOtherExpensesAmt
PY Total Expenses$191,630PYTotalExpensesAmt
CY Total Expenses$204,624CYTotalExpensesAmt
PY Revenues Less Expenses$23,210PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$9,528CYRevenuesLessExpensesAmt
Total Assets BOY$44,512TotalAssetsBOYAmt
Total Assets EOY$54,040TotalAssetsEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$44,512NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$54,040NetAssetsOrFundBalancesEOYAmt
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$182,552ExpenseAmt
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$182,552TotalProgramServiceExpensesAmt
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
Temp Or Permanent EndowmentsfalseTempOrPermanentEndowmentsInd
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 With Officer EntfalseBusinessRlnWithOfficerEntInd
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 RequiredfalseScheduleORequiredInd
IRP Document1IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld CompliancefalseBackupWthldComplianceInd
Employee11EmployeeCnt
Employment Tax Returns FiledYes (true)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members4GoverningBodyVotingMembersCnt
Independent Voting Member1IndependentVotingMemberCnt
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
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1SCOTLAND STORM COMMUNITY DEVBusinessNameLine1Txt
Business Name Line2SCOTLAND STORM COMMUNITY DEVBusinessNameLine2Txt
FieldValueIRS element (for citing)
Phone3019832758PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line18516 BEECH TREE ROADAddressLine1Txt
Address Line28516 BEECH TREE ROADAddressLine2Txt
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 DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
CHRISTOPHER MEAD
PRESIDENT10.00Yes (X)Yes (X)$0$0$0
LAUREN MEAD
SECRETARY &T20.00Yes (X)Yes (X)$0$0$0
MARK LONDON
VICE PRESIDE1.00Yes (X)Yes (X)$0$0$0
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$68,600GovernmentGrantsAmt
All Other Contributions$145,541AllOtherContributionsAmt
Total Contributions$214,141TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$11TotalRevenueColumnAmt
Exclusion$11ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$214,152TotalRevenueColumnAmt
Exclusion$11ExclusionAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$155,150TotalAmt
Program Services$144,404ProgramServicesAmt
Management And General$7,447ManagementAndGeneralAmt
Fundraising$3,299FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$12,246TotalAmt
Program Services$11,398ProgramServicesAmt
Management And General$588ManagementAndGeneralAmt
Fundraising$260FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$4,979TotalAmt
Management And General$4,979ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$2,958TotalAmt
Management And General$2,958ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmtFundraisingFundraisingAmt
BUS SERVICE$18,883$18,883
PROGRAM SUPPLIES$7,812$7,812
PAYROLL SERVICE FEE$2,065$2,065
PAYPAL FEES$276$276

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$255TotalAmt
Program Services$55ProgramServicesAmt
Management And General$200ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$204,624TotalAmt
Program Services$182,552ProgramServicesAmt
Management And General$18,237ManagementAndGeneralAmt
Fundraising$3,835FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
EOY$1,963EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$44,512BOYAmt
EOY$52,077EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$44,512BOYAmt
EOY$54,040EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$44,512BOYAmt
EOY$54,040EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$44,512BOYAmt
EOY$54,040EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$44,512BOYAmt
EOY$54,040EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$9,528ReconcilationRevenueExpnssAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedfalseFSAuditedInd

Schedule A IRS990ScheduleA

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

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$37,329CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$159,133CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$214,729CurrentTaxYearMinus1YearAmt
Current Tax Year$214,141CurrentTaxYearAmt
Total$625,332TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus3 Years$37,329CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$159,133CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$214,729CurrentTaxYearMinus1YearAmt
Current Tax Year$214,141CurrentTaxYearAmt
Total$625,332TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$353,972SubstantialContributorsTotAmt
Public Support Total170$271,360PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$2CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$2CurrentTaxYearMinus1YearAmt
Current Tax Year$11CurrentTaxYearAmt
Total$15TotalAmt
FieldValueIRS element (for citing)
Total Support$625,347TotalSupportAmt
First5 Years170Yes (X)First5Years170Ind

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 TREAS / SEC SPOUSE CHRISTOPHER MEAD MARK LONDON PRESIDENT V/ PRESIDENT BUSINESS PARTNERS
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 19NO DOCUMENTS AVAILABLE TO THE PUBLIC