POTOMAC ACADEMY CORP

EIN: 871348785 501(c)(3)

Great Falls, VA

Total Revenue
$218,705
Total Expenses
$37,192
Total Assets
$261,363
Net Assets
$261,363
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Tuckman-Chang Vulnerability Assessment

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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
VA
Principal Officer
Iche Chiu
Phone
2027700600
Tax Period
2024-01-01 to 2024-12-31

POTOMAC ACADEMY CORP, founded in 2021, is a small nonprofit that reported $219K in total revenue in fiscal year 2024. Revenue surged 357% from the prior year, signaling strong growth momentum. The organization ran a surplus of $182K, a strong 83% operating margin.

Mission

To educate young students by providing training and hands-on experiences in business skills, entrepreneurship, and leadership development, with the goal of preparing them to become innovative, responsible, and effective leaders in their communities.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $218,705
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $218,705

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $1,550
Program Expenses $30,892
Other Expenses $37,192
TOTAL EXPENSES $37,192

Year-over-Year Comparison

2024 2023 Change
Revenue $218,705 $47,850 +3.6%
Expenses $37,192 $11,208 +2.3%
Net Income $181,513 $36,642 +4.0%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$0
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Jasper Li Director 0.00
Director
$0 $0 $0
Leo Liao Director 0.00
Director
$0 $0 $0
Iche Chiu Executive Director 2.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $218,705 $37,192 $261,363 $181,513
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