Civic Intelligence

Potomac Institute for Policy Studies

990 • Fiscal year 2017 • EIN 54-1700997

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 07, 2018

Organization ProfileWWW.POTOMACINSTITUTE.ORG

View Organization Page

901 North Stuart Street No 1200Arlington, VA 22203

(703) 525-0770

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.82x

Higher debt load relative to assets than 87% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Liabilities / Revenue

60th percentile

0.35x

Higher debt load relative to revenue than 60% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Net Margin

37th percentile

0.1%

Higher net margin than 37% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Top Officer Pay

88th percentile

$422,185

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 3.8% of source-year revenue.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2017

Asset Growth

7th percentile

-11%

Faster asset growth than 7% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Revenue Growth

29th percentile

-1.7%

Faster revenue growth than 29% of similar nonprofits.

2017 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2016 to 2017

Balance Sheet
Liabilities / Assets87th percentile

Assets

Down

$4,791,734

Down $585,595 (-11%) from 2016

Net Assets

Up

$869,281

Up $9,592 (+1.1%) from 2016

Liabilities

Down

$3,922,453

Down $595,187 (-13%) from 2016

Revenue And Expenses
Liabilities / Revenue60th percentileNet Margin37th percentile

Revenue

Down

$11,256,473

Down $199,645 (-1.7%) from 2016

Expenses

Down

$11,246,881

Down $991,273 (-8.1%) from 2016

Net Income

Up

$9,592

Up $791,628 (+101%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth7th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2010: $2,907,807Liabilities 2010: $1,072,963Net Assets 2010: $1,834,8442010Assets 2011: $4,477,011Liabilities 2011: $2,196,633Net Assets 2011: $2,280,3782011Assets 2012: $4,646,655Liabilities 2012: $2,153,679Net Assets 2012: $2,492,9762012Assets 2013: $5,784,714Liabilities 2013: $4,183,954Net Assets 2013: $1,600,7602013Assets 2014: $5,741,438Liabilities 2014: $4,139,258Net Assets 2014: $1,602,1802014Assets 2015: $5,333,042Liabilities 2015: $3,691,317Net Assets 2015: $1,641,7252015Assets 2016: $5,377,329Liabilities 2016: $4,517,640Net Assets 2016: $859,6892016Assets 2017: $4,791,734Liabilities 2017: $3,922,453Net Assets 2017: $869,2812017Assets 2018: $3,752,248Liabilities 2018: $2,001,657Net Assets 2018: $1,750,5912018Assets 2019: $4,229,418Liabilities 2019: $1,401,898Net Assets 2019: $2,827,5202019Assets 2020: $5,515,056Liabilities 2020: $1,788,675Net Assets 2020: $3,726,3812020Assets 2021: $5,742,038Liabilities 2021: $1,617,596Net Assets 2021: $4,124,4422021Assets 2022: $22,233,192Liabilities 2022: $17,493,744Net Assets 2022: $4,739,4482022Assets 2023: $19,873,843Liabilities 2023: $16,124,631Net Assets 2023: $3,749,2122023Assets 2024: $16,226,915Liabilities 2024: $13,731,842Net Assets 2024: $2,495,0732024

Highlighted filing

2017

Assets$4,791,734
Liabilities$3,922,453
Net Assets$869,281
Open 2017 Filing

Operations Trend

Revenue Growth29th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2010: $11,534,5482010Expenses 2011: $11,720,2252011Expenses 2012: $11,386,2512012Revenue 2013: $9,510,292Expenses 2013: $10,402,508Net Income 2013: -$892,2162013Revenue 2014: $10,115,250Expenses 2014: $10,113,830Net Income 2014: $1,4202014Revenue 2015: $11,276,625Expenses 2015: $11,237,080Net Income 2015: $39,5452015Revenue 2016: $11,456,118Expenses 2016: $12,238,154Net Income 2016: -$782,0362016Revenue 2017: $11,256,473Expenses 2017: $11,246,881Net Income 2017: $9,5922017Revenue 2018: $11,853,668Expenses 2018: $10,972,358Net Income 2018: $881,3102018Revenue 2019: $12,146,925Expenses 2019: $11,069,996Net Income 2019: $1,076,9292019Revenue 2020: $11,442,980Expenses 2020: $10,544,119Net Income 2020: $898,8612020Revenue 2021: $10,808,828Expenses 2021: $10,410,767Net Income 2021: $398,0612021Revenue 2022: $13,330,733Expenses 2022: $13,214,756Net Income 2022: $115,9772022Revenue 2023: $11,664,892Expenses 2023: $12,655,128Net Income 2023: -$990,2362023Revenue 2024: $7,212,447Expenses 2024: $8,196,293Net Income 2024: -$983,8462024

Highlighted filing

2017

Revenue$11,256,473
Expenses$11,246,881
Net Income$9,592
Open 2017 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 7, 2018
Return Version
2017v2.3
Gross Receipts
$11,256,473
Mission and Program Overview

Mission

The potomac institute for policy studies is an independent, 501(c)(3), not-for-profit public policy research institute. The institute identifies and aggressively shepherds discussion on key science and technology issues facing our society. (continued schedule o) from these discussions and forums, the institute develops meaningful science and technology policy options and ensures their implementation at the intersection of business and government.

Contract research & studies of scientific technology & policy

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,814,828$1,429,688▼ $385,140
Savings and Temporary Cash Investments$1,435,724$1,164,387▼ $271,337
Land, Buildings, and Equipment, Net$911,980$747,107▼ $164,873
Total Assets$5,377,329$4,791,734▼ $585,595
Other Assets Total$1,214,797$1,450,552▲ $235,755
Liabilities
Other Liabilities$3,714,660$2,860,159▼ $854,501
Accounts Payable and Accrued Expenses$704,592$541,460▼ $163,132
Unsecured Notes Loans Payable$98,388$520,834▲ $422,446
Total Liabilities$4,517,640$3,922,453▼ $595,187
Net Assets / Fund Balance
Unrestricted Net Assets$859,689$869,281▲ $9,592
Total Net Assets Fund Balance$859,689$869,281▲ $9,592
Total Liabilities and Net Assets / Fund Balance$5,377,329$4,791,734▼ $585,595

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$689,534$927,615$1,617,149
Equipment$57,573$425,207$482,780
Other Assets Org$34,739--
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Michael S SwetnamCEOFT$374,560$47,625$422,185
THOMAS M O'LEARYExecutive V.p.FT$296,699$48,457$345,156
Gail G Clifford CPAV.p. for Financial ManagemFT$287,365$56,295$343,660
Robert HummelEmployeeFT$196,088$45,716$241,804
Michael FritzeEmployeeFT$191,324$38,704$230,028
Harold LyonsEmployeeFT$168,909$44,016$212,925
Laura WorcesterEmployeeFT$167,701$41,742$209,443
Gary BrownEmployeeFT$181,356$18,159$199,515
Alfred M GrayDirector-$88,958-$88,958
Lyle a Cox Jr PhdDirector-$60,000-$60,000
Gary L SojkaDirectorPT$45,000-$45,000

Board Members and Trustees

NameTitle
Howard K SchueDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Innovative Reasoning LLCConsulting12000 RESEARCH PARKWAY 450, Orlando, FL 32826$1,068,397
SkyletConsulting8204 ROSELAND DRIVE, Fairfax Station, VA 22039$144,000
-Consulting3225 MCLEOD DRIVE 100, Las Vegas, NV 89121$108,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$11,238,445
Investment Income
$2,564
Other Revenue
$15,464
Change in Net Assets
$9,592

Audited Revenue Reconciliation

Revenue per Audited Statements
$11,256,473
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$11,256,473
Total Revenue per Form 990
$11,256,473
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,772,981
Other Expenses$4,473,900
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,056,110$556,261-$3,612,371
Occupancy$132,000$1,637,500-$1,769,500
Other Employee Benefits-$1,339,773-$1,339,773
Current Officers, Directors, Trustees, and Key Employees$789,018$515,941-$1,304,959
Payroll Taxes-$343,277-$343,277
All Other Expenses$32,366$169,253-$201,619
Depreciation Depletion-$176,717-$176,717
Pension Plan Contributions-$172,601-$172,601
Travel$70,364$82,117-$152,481
Other Expenses$19,296$55,852-$55,852
Office Expenses$432$26,544-$26,976
Fees for Services Accounting-$25,350-$25,350
Conferences and Meetings$3,646$6,015-$9,661
Insurance-$609-$609
Fees for Services Legal-$478-$478
Total Functional Expenses$5,644,651$5,602,230$0$11,246,881

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$11,246,881
Total Expenses per Audited Statements$11,246,881
Total Expenses per Form 990$11,246,881
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent Obligation$1,908,520
Wages and Related Taxes Payable$748,316
Accrued Expenses$111,040
Rate Variance Wip$40,297
Other Current Liabilities$40,100
Deferred Income$11,886
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“All officers review the irs form 990 prior to submission to the irs. The annual financial information and irs filings are made available to the board of directors for review.”

Form 990, Part VI, Section B, Line 12C

“The conflict of interest policy is in the personnel policy manual. This is monitored constantly and in detail annually with each employee as part of the annual employee evaluation/review.”

Form 990, Part VI, Section B, Line 15

“The institute has a compensation committee. The compensation committee obtains surveys and studies to determine appropriate competitive compensation. Executive compensation is approved by the committee and the board.”

Form 990, Part VI, Section C, Line 19

“Potomac institute for policy studies has its governing documents and financial statements available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Potomac Institute for Policy Studies
EIN
54-1700997
Phone
7035250770
Address
901 NORTH STUART STREET NO 1200, ARLINGTON, VA 22203

Signing Officer

Name
Gail G Clifford CPA
Title
CFO
Phone
7035250770
Signed
2018-11-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gail G Clifford CPA
Formed
1994
Legal Domicile
De
Voting Board Members
7
Independent Board Members
1
Employees
57
Volunteers
32

Preparer

Firm
Mitchell & Co Pc
Address
110 EAST MARKET ST 200, LEESBURG, VA 20176
Preparer
Jeffrey D Mitchell
Phone
7037774900
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 2C

“Audit committee oversees the selection of independent auditor and the review of the annual audited financial statements. The audit committee meets with the auditors annually to review the financial results and then presents the annual audited report to the board for review and final approval.”

Financial Statement Notes

PART X, LINE 2:

“The institution adopted the guidance under asc topic 740, income taxes, for the year ended december 31, 2016. Management has evaluated the organization's tax positions and concluded that the institution has taken no uncertain tax provisions that would require adjustment to, or disclosure in, the financial statements to comply with the provisions of the guidance. Pips annually files the irs informational filing form 990, return of organizations exempt from income taxes. Reporting years open for irs audit include 2013, 2014, 2015, and 2016.”

Raw XML AppendixShowing 400 of 657 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0THE POTOMAC INSTITUTE FOR POLICY STUDIES IS AN INDEPENDENT, 501(C)(3), NOT-FOR-PROFIT PUBLIC POLICY RESEARCH INSTITUTE. THE INSTITUTE IDENTIFIES AND AGGRESSIVELY SHEPHERDS DISCUSSION ON KEY SCIENCE AND TECHNOLOGY ISSUES FACING OUR SOCIETY. (CONTINUED SCHEDULE O) FROM THESE DISCUSSIONS AND FORUMS, THE INSTITUTE DEVELOPS MEANINGFUL SCIENCE AND TECHNOLOGY POLICY OPTIONS AND ENSURES THEIR IMPLEMENTATION AT THE INTERSECTION OF BUSINESS AND GOVERNMENT.
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1292070
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt2105872
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt355852
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IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt0343277
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IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt09592
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IRS990/RelatedOrganizationCtrlEntInd00
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus3YearsAmt01897
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt011238445
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt011319763
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt011203702
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt010037434
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt09377558
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt053176902
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Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,791,734
Liabilities
$3,922,453
Net assets
$869,281
Revenue
$11,256,473
Expenses
$11,246,881
Net income
$9,592
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$16.2$13.7$2.50$7.21$8.20$0.98
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$19.9$16.1$3.75$11.7$12.7$0.99
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.2$17.5$4.74$13.3$13.2$0.12
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.74$1.62$4.12$10.8$10.4$0.40
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.52$1.79$3.73$11.4$10.5$0.90
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.23$1.40$2.83$12.1$11.1$1.08
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.75$2.00$1.75$11.9$11.0$0.88
2017Detailed filing. Detailed filing data is available for this year.$4.79$3.92$0.87$11.3$11.2$0.01
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.38$4.52$0.86$11.5$12.2$0.78
2015Detailed filing. Detailed filing data is available for this year.$5.33$3.69$1.64$11.3$11.2$0.04
2014Detailed filing. Detailed filing data is available for this year.$5.74$4.14$1.60$10.1$10.1$0.00
2013XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.78$4.18$1.60$9.51$10.4$0.89
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.65$2.15$2.49$11.4
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.48$2.20$2.28$11.7
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.91$1.07$1.83$11.5