Potomac School
- Assets
- $225.2m
- Revenue
- $49.7m
- Investments
- $47.7m
- Employees
- 416
- Location
- Mclean, VA
- Founding
- 05/1931
- Data as of
- 06/2021
- EIN
- 54-0562160
Organization Overview
Potomac School is located in Mclean, VA. The organization was established in 1931. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2021, Potomac School employed 416 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Potomac School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Potomac School generated $49.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $48.2m during the year ending 06/2021. While expenses have increased by 2.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
PROVIDING EDUCATION FROM KINDERGARTEN TO THE TWELFTH GRADE FOR APPROXIMATELY 1060 STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John J Kowalik Head Of School | Officer | 60 | $705,321 |
Dyana Conroy Cfo/coo | Officer | 60 | $327,945 |
Timothy Jaeger Associate Head Of School | 60 | $250,170 | |
Barbara Overstreet Director Of Advancement | 55 | $245,043 | |
John Mathews Head Of Middle School | 55 | $186,128 | |
Douglas Mclane Head Of Upper School | 55 | $176,981 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sage Dining Services Inc Food Service | 6/29/21 | $328,616 |
Red Coats Inc Janitorial | 6/29/21 | $529,258 |
Cannon Washington Inc Architect | 6/29/21 | $258,095 |
Internetworking Solution Professionals L Technology | 6/29/21 | $171,200 |
Coakley & Williams General Contractor | 6/29/21 | $2,284,935 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,816 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,958,368 |
| Noncash contributions included in lines 1a–1f | $589,731 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,960,184 |
| Total Program Service Revenue | $44,507,658 |
| Investment income | $46,180 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $496,280 |
| Net Income from Fundraising Events | $603,586 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$18,641 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $49,665,882 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,188,654 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,117,785 |
| Compensation of current officers, directors, key employees. | $116,903 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,836,992 |
| Pension plan accruals and contributions | $1,571,377 |
| Other employee benefits | $3,387,992 |
| Payroll taxes | $1,551,134 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,175 |
| Fees for services: Accounting | $66,732 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $49,500 |
| Fees for services: Investment Management | $66,675 |
| Fees for services: Other | $994,183 |
| Advertising and promotion | $58,887 |
| Office expenses | $471,115 |
| Information technology | $666,894 |
| Royalties | $0 |
| Occupancy | $1,630,827 |
| Travel | $81,019 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $236,171 |
| Interest | $1,280,814 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,035,206 |
| Insurance | $433,146 |
| All other expenses | $1,080,882 |
| Total functional expenses | $48,212,635 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $300 |
| Savings and temporary cash investments | $48,114,662 |
| Pledges and grants receivable | $3,465,167 |
| Accounts receivable, net | $145,062 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $92,047 |
| Prepaid expenses and deferred charges | $441,557 |
| Net Land, buildings, and equipment | $104,852,899 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $47,746,534 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $20,333,967 |
| Total assets | $225,192,195 |
| Accounts payable and accrued expenses | $3,739,714 |
| Grants payable | $0 |
| Deferred revenue | $22,381,875 |
| Tax-exempt bond liabilities | $23,063,308 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $6,945,800 |
| Other liabilities | $22,736,438 |
| Total liabilities | $78,867,135 |
| Net assets without donor restrictions | $136,533,611 |
| Net assets with donor restrictions | $9,791,449 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $225,192,195 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Potomac School has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Redskin Foundation Inc Bethesda, MD PURPOSE: TO SUPPORT YOUTH ACTIVITIES | $10,000 |
Endowment Analysis
| Beg. Balance | $52,840,311 |
| Earnings | $10,765,467 |
| Net Contributions | $278,776 |
| Other Expense | $1,749,902 |
| Ending Balance | $62,134,652 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Imagine Schools Non-Profit Inc Vienna, VA | $161,309,849 | $62,482,447 |
Mcdonogh School Incorporated Owings Mills, MD | $267,537,945 | $83,365,139 |
The East Coast Migrant Head Start Project Raleigh, NC | $15,412,919 | $60,635,891 |
Georgetown Day School Inc Washington, DC | $314,406,579 | $96,635,135 |
Charlotte Country Day School Charlotte, NC | $226,176,676 | $57,558,870 |
Collegiate School Richmond, VA | $158,195,585 | $59,848,503 |
Mccallie School Inc Chattanooga, TN | $251,954,499 | $79,356,942 |
Potomac School Mclean, VA | $225,192,195 | $49,665,882 |
Providence Day School Charlotte, NC | $110,524,658 | $50,140,053 |
Flint Hill School Oakton, VA | $94,406,099 | $45,449,765 |
Charlotte Latin Schools Inc Charlotte, NC | $136,686,590 | $47,461,290 |
Bullis School Inc Potomac, MD | $98,208,716 | $48,486,298 |