Potomac Swimming And Recreation Association Inc Potomac
EIN: 520781544 · Potomac, MD
| Metric | Value |
|---|---|
| Total Revenue | $914K |
| Total Expenses | $672K |
| Net Assets | $-386,405 |
Is Potomac Swimming And Recreation Association Inc Potomac Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Potomac Swimming And Recreation Association Inc Potomac
Potomac Swimming And Recreation Association Inc Potomac (EIN: 520781544) is a nonprofit organization based in Potomac, MD. The organization reported total revenue of $914K and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Potomac Swimming And Recreation Association Inc Potomac's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Potomac Swimming And Recreation Association Inc Potomac is a small nonprofit that has been operating for 62 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 8.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $606K |
| Total Expenses | $672K |
| Surplus / Deficit | $-66,336 |
| Total Assets | $1.6M |
| Total Liabilities | $2.0M |
| Net Assets | $-386,405 |
| Operating Margin | -10.9% |
| Debt-to-Asset Ratio | 124.6% |
| Months of Reserves | 28.0 months |
Financial Health Grade: C
In 2023, Potomac Swimming And Recreation Association Inc Potomac reported a deficit of $66K with expenses exceeding revenue, holds 28.0 months of operating reserves (strong position), has a debt-to-asset ratio of 124.6% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Potomac Swimming And Recreation Association Inc Potomac's revenue has grown at a compound annual growth rate (CAGR) of 8.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -9.2% | -9.1% | -6.0% |
| 2022 | -15.6% | +22.9% | -3.3% |
| 2021 | +76.8% | +22.9% | +3.6% |
| 2020 | -14.4% | -22.9% | -5.5% |
| 2019 | -15.2% | -15.0% | -8.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1964 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Potomac Swimming And Recreation Association Inc Potomac has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Potomac Swimming And Recreation Association Inc Potomac with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $66K, with expenses exceeding revenue.
- Debt-to-asset ratio: 124.6%.
Frequently Asked Questions about Potomac Swimming And Recreation Association Inc Potomac
Is Potomac Swimming And Recreation Association Inc Potomac a legitimate charity?
Potomac Swimming And Recreation Association Inc Potomac (EIN: 520781544) is a registered tax-exempt nonprofit based in Maryland. It has 13 years of IRS 990 filings on record. Total revenue: $914K. No red flags identified. Financial health grade: C.
How does Potomac Swimming And Recreation Association Inc Potomac spend its money?
Potomac Swimming And Recreation Association Inc Potomac reported $914K in total revenue in IRS 990 filings. 13 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Potomac Swimming And Recreation Association Inc Potomac tax-deductible?
Potomac Swimming And Recreation Association Inc Potomac is registered as a tax-exempt nonprofit (EIN: 520781544). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Potomac Swimming And Recreation Association Inc Potomac located?
Potomac Swimming And Recreation Association Inc Potomac is headquartered in Potomac, Maryland and files with the IRS under EIN 520781544.
How many years of IRS 990 filings does Potomac Swimming And Recreation Association Inc Potomac have?
Potomac Swimming And Recreation Association Inc Potomac has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $914K in total revenue.
Filing History
IRS 990 filing history for Potomac Swimming And Recreation Association Inc Potomac showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Potomac Swimming And Recreation Association Inc Potomac's revenue has grown by 153.6%, moving from $239K to $606K. Total assets decreased by 30.3% over the same period, from $2.3M to $1.6M. Total functional expenses rose by 150.4%, from $269K to $672K. In its most recent filing year (2023), Potomac Swimming And Recreation Association Inc Potomac reported a deficit of $66K, with expenses exceeding revenue. The organization holds $2.0M in liabilities against $1.6M in assets (debt-to-asset ratio: 124.6%), resulting in net assets of $-386,405.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $606K | $672K | $1.6M | $2.0M | — | — |
| 2022 | $667K | $740K | $1.7M | $2.0M | — | — |
| 2021 | $790K | $602K | $1.7M | $2.0M | — | View 990 |
| 2020 | $447K | $490K | $1.7M | $2.1M | — | — |
| 2019 | $522K | $635K | $1.8M | $2.2M | — | View 990 |
| 2018 | $616K | $747K | $1.9M | $2.2M | — | View 990 |
| 2017 | $618K | $754K | $2.1M | $2.3M | — | View 990 |
| 2016 | $706K | $752K | $2.2M | $2.2M | — | View 990 |
| 2015 | $668K | $860K | $2.3M | $2.2M | — | View 990 |
| 2014 | $709K | $787K | $2.3M | $2.1M | — | View 990 |
| 2013 | $592K | $738K | $2.4M | $2.1M | — | View 990 |
| 2012 | $398K | $550K | $2.3M | $1.9M | — | View 990 |
| 2011 | $239K | $269K | $2.3M | $1.7M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $606K, expenses of $672K, and assets of $1.6M (revenue -9.2% year-over-year).
- 2022: Revenue of $667K, expenses of $740K, and assets of $1.7M (revenue -15.6% year-over-year).
- 2021: Revenue of $790K, expenses of $602K, and assets of $1.7M (revenue +76.8% year-over-year).
- 2020: Revenue of $447K, expenses of $490K, and assets of $1.7M (revenue -14.4% year-over-year).
- 2019: Revenue of $522K, expenses of $635K, and assets of $1.8M (revenue -15.2% year-over-year).
- 2018: Revenue of $616K, expenses of $747K, and assets of $1.9M (revenue -0.3% year-over-year).
- 2017: Revenue of $618K, expenses of $754K, and assets of $2.1M (revenue -12.5% year-over-year).
- 2016: Revenue of $706K, expenses of $752K, and assets of $2.2M (revenue +5.6% year-over-year).
- 2015: Revenue of $668K, expenses of $860K, and assets of $2.3M (revenue -5.8% year-over-year).
- 2014: Revenue of $709K, expenses of $787K, and assets of $2.3M (revenue +19.8% year-over-year).
- 2013: Revenue of $592K, expenses of $738K, and assets of $2.4M (revenue +48.6% year-over-year).
- 2012: Revenue of $398K, expenses of $550K, and assets of $2.3M (revenue +66.8% year-over-year).
- 2011: Revenue of $239K, expenses of $269K, and assets of $2.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Potomac Swimming And Recreation Association Inc Potomac:
Data Sources and Methodology
This transparency report for Potomac Swimming And Recreation Association Inc Potomac is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.