STRATEGY STUDIO / PUBLIC DATA EXPLORER

THE POTOMAC TRUST INC: Form 990, tax year 2014

View the entire original 990 at ProPublica ↗

Organization
THE POTOMAC TRUST INC (EIN 46-3579033)
Tax period
2014-01-01 to 2014-12-31
Filed
2015-02-12
IRS object ID
201500439349301490
Schema version
2014v5.0
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)
Return2015-02-12T13:43:56-06:00ReturnTs
Tax Period End2014-12-31TaxPeriodEndDt

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 Begin2014-01-01TaxPeriodBeginDt

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 Line18802 CORD CIRCLEAddressLine1Txt
CityPOTOMACCityNm
State AbbreviationMDStateAbbreviationCd
ZIP20854ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonCHRISTOPHER MEADPersonNm
Person TitlePRESIDENTPersonTitleTxt
Signature2015-02-04SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonCATHERINE A ASKEYPreparerPersonNm
PTINP00059612PTIN
Phone3014755671PhoneNum
Preparation2015-02-03PreparationDt
FieldValueIRS element (for citing)
Tax2014TaxYr
Build TS2016-03-07 17:11:31ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerCHRISTOPHER MEADPrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line18802 CORD CIRCLEAddressLine1Txt
CityPOTOMACCityNm
State AbbreviationMDStateAbbreviationCd
ZIP20854ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$159,440GrossReceiptsAmt
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 Body3VotingMembersGoverningBodyCnt
Voting Members Independent0VotingMembersIndependentCnt
Total Employee8TotalEmployeeCnt
Total Volunteers85TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
PY Contributions Grants$37,329PYContributionsGrantsAmt
CY Contributions Grants$159,133CYContributionsGrantsAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
CY Investment Income$2CYInvestmentIncomeAmt
CY Other Revenue$305CYOtherRevenueAmt
PY Total Revenue$37,329PYTotalRevenueAmt
CY Total Revenue$159,440CYTotalRevenueAmt
CY Grants And Similar Paid$0CYGrantsAndSimilarPaidAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$18,049PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$104,357CYSalariesCompEmpBnftPaidAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$0CYTotalFundraisingExpenseAmt
PY Other Expenses$4,272PYOtherExpensesAmt
CY Other Expenses$48,789CYOtherExpensesAmt
PY Total Expenses$22,321PYTotalExpensesAmt
CY Total Expenses$153,146CYTotalExpensesAmt
PY Revenues Less Expenses$15,008PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$6,294CYRevenuesLessExpensesAmt
Total Assets BOY$15,008TotalAssetsBOYAmt
Total Assets EOY$21,302TotalAssetsEOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$15,008NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$21,302NetAssetsOrFundBalancesEOYAmt
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$140,786ExpenseAmt
DescPROVIDED FREE OF CHARGE AFTER SCHOOL SPORTS AND ACADEMIC TUTORING TO ELEMENTARY AND MIDDLE SCHOOL CHILDREN WHO RESIDE IN A SUBSIDIZED HOUSING COMMUNITY.Desc
Total Program Service Expenses$140,786TotalProgramServiceExpensesAmt
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 OutstandingYes (true)LoanOutstandingInd
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
Employee8EmployeeCnt
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 Members3GoverningBodyVotingMembersCnt
Independent Voting Member0IndependentVotingMemberCnt
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
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

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

US Address USAddress

FieldValueIRS element (for citing)
Address Line18802 CORD CIRCLEAddressLine1Txt
CityPOTOMACCityNm
State AbbreviationMDStateAbbreviationCd
ZIP20854ZIPCd
FieldValueIRS element (for citing)
No Listed Persons CompensatedYes (X)NoListedPersonsCompensatedInd

Form990 Part VII Section A Form990PartVIISectionAGrp (3 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
CHRISTOPHER MEAD
PRESIDENT20.00Yes (X)Yes (X)$0$0$0
LAUREN MEAD
TREASURER20.00Yes (X)Yes (X)$0$0$0
MARK LONDON
VICE PRESIDE1.00Yes (X)Yes (X)$0$0$0
FieldValueIRS element (for citing)
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
All Other Contributions$159,133AllOtherContributionsAmt
Total Contributions$159,133TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$2TotalRevenueColumnAmt
Related Or Exempt Func Income$2RelatedOrExemptFuncIncomeAmt

Other Revenue Misc OtherRevenueMiscGrp

FieldValueIRS element (for citing)
DescCREDIT CARD REWARDSDesc
Total Revenue Column$305TotalRevenueColumnAmt
Related Or Exempt Func Income$305RelatedOrExemptFuncIncomeAmt
FieldValueIRS element (for citing)
Other Revenue Total$305OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$159,440TotalRevenueColumnAmt
Related Or Exempt Func Income$307RelatedOrExemptFuncIncomeAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$94,925TotalAmt
Program Services$93,708ProgramServicesAmt
Management And General$1,217ManagementAndGeneralAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$772TotalAmt
Program Services$772ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$8,660TotalAmt
Program Services$8,567ProgramServicesAmt
Management And General$93ManagementAndGeneralAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$5,156TotalAmt
Management And General$5,156ManagementAndGeneralAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$3,448TotalAmt
Management And General$3,448ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDescTotalTotalAmtProgram ServicesProgramServicesAmtManagement And GeneralManagementAndGeneralAmt
PROGRAM SUPPLIES$21,685$21,685
BUS SERVICE$16,054$16,054
PAYROLL SERVICE FEE$1,520$1,520
ADMINISTRATIVE FEES$926$926

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$153,146TotalAmt
Program Services$140,786ProgramServicesAmt
Management And General$12,360ManagementAndGeneralAmt
Fundraising$0FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$15,008BOYAmt
EOY$20,452EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
EOY$850EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$15,008BOYAmt
EOY$21,302EOYAmt

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$15,008BOYAmt
EOY$21,302EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$15,008BOYAmt
EOY$21,302EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$15,008BOYAmt
EOY$21,302EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$6,294ReconcilationRevenueExpnssAmt
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 Minus1 Year$37,329CurrentTaxYearMinus1YearAmt
Current Tax Year$159,133CurrentTaxYearAmt
Total$196,462TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus1 Year$37,329CurrentTaxYearMinus1YearAmt
Current Tax Year$159,133CurrentTaxYearAmt
Total$196,462TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$163,213SubstantialContributorsTotAmt
Public Support Total170$33,249PublicSupportTotal170Amt
Total Support$196,462TotalSupportAmt
Gross Receipts Rltd Activities$307GrossReceiptsRltdActivitiesAmt
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 L IRS990ScheduleL

Loans Btwn Org Interested Prsn LoansBtwnOrgInterestedPrsnGrp

FieldValueIRS element (for citing)
PersonCHRISTOPHER MEAD SHORT-TERM ADVANCEPersonNm
Relationship With OrgPRESIDENTRelationshipWithOrgTxt
Loan PurposeERRONEOUS PAYMENT REPAID 1/10/15LoanPurposeTxt
Loan From OrganizationYes (X)LoanFromOrganizationInd
Original Principal$850OriginalPrincipalAmt
Balance Due$850BalanceDueAmt
DefaultfalseDefaultInd
Board Or Committee ApprovalfalseBoardOrCommitteeApprovalInd
Written AgreementfalseWrittenAgreementInd
FieldValueIRS element (for citing)
Total Balance Due$850TotalBalanceDueAmt

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 SECRETARY SPOUSE CHRISTOPHER MEAD MARK LONDON PRESIDENT V/ PRESIDENT EMPLOYER
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