Potomac Area Hostels

Analysis

Potomac Area Hostels is a registered charity in United States, based in Glenn Dale, MD. It received its IRS tax-exemption ruling in August 2020, 6 years ago. 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, Potomac Area Hostels reported income of $117k and spending of $160k, spending 137% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $342k to $117k (-66%), an average of -30% a year. The sharpest change came in the year to December 2021, when income rose by 462%. Over the whole period it spent 29% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Potomac Area Hostels sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 42nd percentile within MD. Charities of a similar size with the same main cause include Phi Upsilon Omicron Inc ($117k), Friends of the Paso Robles Public Library ($117k) and Little League Baseball Inc ($117k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $5,710 (3.6% of expenses). Other salaries and wages came to $22k. At year end it held assets of $2.1m against liabilities of $0, net assets of $2.1m. It reported 1 employees.