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← POTOMAC INSTITUTE FOR POLICY STUDIES

Form 990 for tax year 2024

Filed by POTOMAC INSTITUTE FOR POLICY STUDIES.

Totals

Total revenue
$7,212,447
Total expenses
$8,196,293
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$6,551,844
Investment income
$41,728
Other revenue
$618,875
Total assets, end of year
$16,226,915
Total liabilities, end of year
$13,731,842
Net assets or fund balances, end of year
$2,495,073
Program services expenses (Part IX)
$8,092,018
Management and general expenses
$104,275
Fundraising expenses
$0
Program service expenses (Part III)
$8,092,018

Program services were 98.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: CONTRACT FEES

    total $6,431,939 · related or exempt $6,431,939

  • 2b · Program service revenue: EDUCATION PROGRAMS

    total $72,034 · related or exempt $72,034

  • 2c · Program service revenue: NAVIGATOR/MEMBERSHIP

    total $47,871 · related or exempt $47,871

  • 3 · Investment income

    total $41,728 · excluded $41,728

  • 6a · Gross rents

    real property $616,944

  • 6c · Rental income or loss

    real property $616,944

  • 6d · Net rental income or loss

    total $616,944 · excluded $616,944

  • 11a · Other revenue: OTHER

    total $1,931 · excluded $1,931

  • 11e · Other revenue, total

    $1,931

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $774,050 · program services $535,997 · management and general $238,053

  • 7 · Other salaries and wages

    total $2,818,704 · program services $1,191,921 · management and general $1,626,783

  • 8 · Pension plan contributions

    total $150,757 · management and general $150,757

  • 9 · Other employee benefits

    total $1,287,345 · management and general $1,287,345

  • 10 · Payroll taxes

    total $294,114 · management and general $294,114

  • 11b · Fees: legal

    total $9,650 · management and general $9,650

  • 11c · Fees: accounting

    total $23,000 · management and general $23,000

  • 11g · Fees: other

    total $306,840 · program services $47,041 · management and general $259,799

  • 13 · Office expenses

    total $38,921 · program services $602 · management and general $38,319

  • 16 · Occupancy

    total $1,978,489 · management and general $1,978,489

  • 17 · Travel

    total $35,250 · program services $31,002 · management and general $4,248

  • 19 · Conferences, conventions and meetings

    total $10,877 · program services $5,165 · management and general $5,712

  • 20 · Interest

    total $8,540 · management and general $8,540

  • 22 · Depreciation, depletion and amortization

    total $3,147 · management and general $3,147

  • 23 · Insurance

    total $32,155 · management and general $32,155

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $157,141 · program services $9,324 · management and general $147,817

  • 24b · Other expenses: SUBCONTRACTORS

    total $79,914 · program services $79,914

  • 24c · Other expenses: OTHER

    total $54,195 · program services $113 · management and general $54,082

  • 24d · Other expenses: BANKING FEES

    total $50,158 · management and general $50,158

  • 24e · All other expenses

    total $83,046 · program services $6,190,939 · management and general -$6,107,893

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $83,911 · end of year $640,266

  • 2 · Savings and temporary cash investments

    beginning of year $2,607,861 · end of year $1,398,779

  • 4 · Accounts receivable

    beginning of year $1,804,600 · end of year $460,066

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,970 · end of year $23,814

  • 10a · Land, buildings and equipment: cost or other basis

    $1,929,469

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,929,469

  • 10c · Land, buildings and equipment, net

    beginning of year $3,148

  • 15 · Other assets

    beginning of year $15,200,585 · end of year $13,703,990

  • 17 · Accounts payable and accrued expenses

    beginning of year $577,024 · end of year $312,210

  • 25 · Other liabilities

    beginning of year $15,668,132 · end of year $13,419,632

  • 27 · Net assets without donor restrictions

    beginning of year $3,478,919 · end of year $2,495,073

Mission and programs · 2024

Mission

PIPS IS AN INDEPENDENT, NONPARTISAN, NON-PROFIT, SCIENCE AND TECHNOLOGY (S&T) POLICY RESEARCH INSTITUTE. THE INSTITUTE IDENTIFIES AND LEADS DISCUSSIONS ON KEY S&T AND NATIONAL SECURITY ISSUES FACING OUR SOCIETY, PROVIDING AN ACADEMIC FORUM FOR THE STUDY OF RELATED POLICY ISSUES. BASED ON DATA AND EVIDENCE, WE DEVELOP MEANINGFUL POLICY RECOMMENDATIONS AND ENSURE THEIR IMPLEMENTATION AT THE INTERSECTION OF BUSINESS AND GOVERNMENT.

Activities or mission (Part I)

CONTRACT RESEARCH & STUDIES OF SCIENTIFIC TECHNOLOGY & POLICY.

  • THE INSTITUTE ASSISTED THE FEDERAL GOVERNMENT AND PRIVATE INDUSTRY IN DEVELOPING SCIENTIFIC & TECHNOLOGY POLICIES, INCLUDING STRATEGIC PLANNING, TECHNICAL EVALUATION, AND TECHNICAL SUPPORT.

    Expenses $8,092,018 · Revenue $6,551,844

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jennifer M Buss PhD

    CEO

    Total calculated
    $436,075
    From this org
    $395,749
    From related orgs
    $0
    Other
    $40,326
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $395,749
    Bonus
    not reported
    Other
    not reported
    Deferred
    $15,124
    Nontaxable benefits
    $25,202
    Filer's total
    $436,075

  • Gary L Sojka

    SECRETARY/TR

    Total calculated
    $0
    Hours/week
    10

  • Suzann Riester

    VP OF CONTRA

    Total calculated
    $362,594
    From this org
    $355,078
    From related orgs
    $0
    Other
    $7,516
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $355,078
    Bonus
    not reported
    Other
    not reported
    Deferred
    $4,980
    Nontaxable benefits
    $2,536
    Filer's total
    $362,594

  • Gail G Clifford CPA

    VP FOR FINAN

    Total calculated
    $265,264
    From this org
    $261,818
    From related orgs
    $0
    Other
    $3,446
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,818
    Bonus
    not reported
    Other
    not reported
    Deferred
    $3,446
    Nontaxable benefits
    not reported
    Filer's total
    $265,264

  • Lyle A Cox Jr PhD

    DIRECTOR

    Total calculated
    $48,000
    From this org
    $48,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Theodore Glum

    DIRECTOR

    Total calculated
    $29,625
    From this org
    $29,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Howard K Schue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • John Y Young Jr

    DIRECTOR

    Total calculated
    $30,000
    From this org
    $30,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Curtis Pearson

    EMPLOYEE

    Total calculated
    $299,930
    From this org
    $255,780
    From related orgs
    $0
    Other
    $44,150
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $255,780
    Bonus
    not reported
    Other
    not reported
    Deferred
    $12,700
    Nontaxable benefits
    $31,450
    Filer's total
    $299,930

  • Robert Hummel

    EMPLOYEE

    Total calculated
    $266,484
    From this org
    $218,905
    From related orgs
    $0
    Other
    $47,579
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,905
    Bonus
    not reported
    Other
    not reported
    Deferred
    $7,344
    Nontaxable benefits
    $40,235
    Filer's total
    $266,484

  • Kimberly Sloan

    EMPLOYEE

    Total calculated
    $202,842
    From this org
    $184,028
    From related orgs
    $0
    Other
    $18,814
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,028
    Bonus
    not reported
    Other
    not reported
    Deferred
    $8,808
    Nontaxable benefits
    $10,006
    Filer's total
    $202,842

  • Timothy Welter

    EMPLOYEE

    Total calculated
    $172,969
    From this org
    $172,969
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $172,969
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $172,969

  • Michael Hoglund

    EMPLOYEE

    Total calculated
    $207,458
    From this org
    $169,168
    From related orgs
    $0
    Other
    $38,290
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,168
    Bonus
    not reported
    Other
    not reported
    Deferred
    $7,842
    Nontaxable benefits
    $30,448
    Filer's total
    $207,458

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
10 November 2025
IRS schema version
2024v5.0
Source object
202543219349311739

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