The Potomac Trust Inc

Analysis

The Potomac Trust Inc is a registered charity in United States, based in Potomac, MD. It received its IRS tax-exemption ruling in May 2014, 12 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Potomac Trust Inc reported income of $209k and spending of $220k, spending 105% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $184k to $209k (+13%), an average of +3.2% a year. The sharpest change came in the year to December 2021, when income rose by 26%. Over the whole period it spent 102% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, The Potomac Trust Inc sits at the 52nd percentile: it is larger than about 52% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 55th percentile within MD. Charities of a similar size with the same main cause include Veterans in Energy ($209k), Junior League of Wichita Falls Inc ($209k) and Plainfield Central Business District Management Corporation ($209k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Other salaries and wages came to $168k. At year end it held assets of $20k against liabilities of $0, net assets of $20k. It reported 16 employees.