Potomac Institue Inc
- Assets
- $244.2k
- Revenue
- $191.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Rockville, MD
- Founding
- Data as of
- 05/2023
- EIN
- 86-3153051
Organization Overview
Potomac Institue Inc is located in Rockville, MD. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Potomac Institue Inc 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 05/2023, Potomac Institue Inc generated $191.6k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 31.1% each year . All expenses for the organization totaled $54.1k during the year ending 05/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
POTOMAC CHINESE SCHOOL (PCS) TEACHERS FUND. PCS WAS A COMMUNITY BASED EDUCATIONAL ORGANIZATION ESTABLISHED IN 1976 IN POTOMAC, MD. PCS OPERATES WEEKLY LANGUAGE CLASSES EVERY SUNDAY DURING THE SCHOOL YEAR. SINCE 2021, PI HAS A COMMITMENT TO SUPPORT PCS OPERATIONS OVER THE YEARS.
POTOMAC SERIES OF MUSIC PRESENTATIONS ARE AD HOC PROGRAMS BY COMMUNITY-BASED MUSICIANS AND EXPERTS. IT HAS BEEN HOSTING POPULAR MUSICAL EVENTS IN VARIOUS VENUES IN LANHAM AND ROCKVILLE, MD. PI PLANS TO CONTINUE FUNDING LIKE PROGRAMS IN THE GREATER WASHINGTON AREA (INCLUDING DC, MD, VA).
PI CONTRIBUTED TO BOYS AND GIRLS CLUB, FULLERTON, CA IN MEMORY OF BRIG OWENS.
PI AWARDS FOR EXCELLENCE IN COMMUNITY ARTS AND PHOTOGRAPHY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Weiguo Zhang President | 10 | $0 | |
Alanoud Alsulaiman Secretary | 10 | $0 | |
Daniel Zhang Member Of The Board | 5 | $0 | |
Qian Yin Member Of The Board | 5 | $0 | |
Annie Zhang Member Of The Board | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $190,000 |
| Interest on Savings | $0 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $1,608 |
| Other Income | $0 |
| Total Revenue | $191,608 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $0 |
| Depreciation | $0 |
| Occupancy | $571 |
| Travel, conferences, and meetings | $500 |
| Printing and publications | $0 |
| Other expenses | $3,192 |
| Total operating and administrative expenses | $4,614 |
| Contributions, gifts, grants paid | $49,469 |
| Total expenses and disbursements | $54,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $244,179 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $244,179 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Potomac Institue Inc has awarded $49,469 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
STRATHMORE HALL FOUNDATION PURPOSE: TO FURTHER CHARITABLE CAUSE | $13,989 |
CHINA MUSIC FOUNDATION PURPOSE: TO FURTHER CHARITABLE CAUSE | $30,000 |
AMAZING CULTURE & ARTS CENTER PURPOSE: TO FURTHER CHARITABLE CAUSE | $1,480 |
GREATER WASHINGTON CHINESE DANCE PURPOSE: TO FURTHER CHARITABLE CAUSE | $1,000 |
PHILAHARMONIC OF GREAT WASHINGTON PURPOSE: TO FURTHER CHARITABLE CAUSE | $2,000 |
GREATER WASHINGTON NANJING UNIVERSITY ASS PURPOSE: TO FURTHER CHARITABLE CAUSE | $1,000 |