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Potash Hill INC

Tax-deductible

Philadelphia, PA501(c)(3)Since 2021EducationEIN 87-2157464Revenue $940K in FY2025

On file with the IRSpotashhill.org1528 Walnut St Ste 301, 19102-3602 · Philadelphia, PATax-exempt since Jun 2022Supporting org, Type I — 509(a)(3)

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Potash Hill, Inc. was created to own and operate the Marlboro music campus.

501(c)(3) charity; gifts are tax-deductible.
100¢ of each $1 spent went to programs.
Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $200K a year · 15% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $14K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$8.3M
114% of total assets
Concern: liabilities are 114% of assets; over 80%.
Pt X · Ln 26
Independent board members
5
of 7 voting members
Looks good: 5 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$940K
+24% vs prior year
Spent
$2.1M
To programs
100%
Net assets
−$998K
By yearFY2021–FY2025
Revenue
$940K
FY2025▲ +24%
Tap a bar for its year
Revenue by fiscal year
FY2021$3K
FY2022$2.5M
FY2023$2.6M
FY2024$758K
FY2025$940K
Expenses
$2.1M
FY2025▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2021$135K
FY2022$1.6M
FY2023$1.9M
FY2024$2.0M
FY2025$2.1M
Net assets
−$998K
FY2025▼ -583%
Tap a bar for its year
Net assets by fiscal year
FY2021−$132K
FY2022$744K
FY2023$1.5M
FY2024$207K
FY2025−$998K

From the FY2025 Form 990 (year ending September 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2022.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $2.1M

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Miles Cohen
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Margo Drakos
Board Member
$0Pt VII · Sec A
$0Pt VII · Sec A
Christopher Serkin
Board Member
$0Pt VII · Sec A
Jacob Smith
Board Member
$0Pt VII · Sec A
See Potash Hill INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates a music campus for artistic and educational programs.

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Provided by the organization

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1 program · $2.1M · in their own filed words · FY2024
01

To operate and oversee the property that is the home campus of the Marlboro school of Music, Inc.

$2.1Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2023
Fidelity Investments Charitable Gift FundFY2023$10K
Cardinal Brook TrustFY2023$4K
Total grants receivedfrom 2 funders$14K

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$940K
Ln 12
Fees for servicesLn 2g$825K
Gifts and grantsLn 1h$58K
Investment incomeLn 3$57K
Money outPt IX
$2.1M
Ln 25
Programscol B$2.1M
Owns and owesPt X
−$998K
net assets · Ln 32
Cash and savingsLn 1–2$103K
Total assetsLn 16$7.3M
LiabilitiesLn 26$8.3M
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$58K
Fees for servicesLn 2g$825K
Investment incomeLn 3$57K
Total revenueLn 12$940K
Assets in detailPt X, end of year
CashLn 1$103K
Cash and savings togetherLn 1–2$103K
InvestmentsLn 11–13$606K
Land, buildings, equipmentLn 10c$6.4M
Total assetsLn 16$7.3M
LiabilitiesLn 26$8.3M
Net assetsLn 32−$998K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderSeptember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$437K$103K
InvestmentsLn 11–13$1.5M$606K
Land, buildings, equipmentLn 10c$4.6M$6.4M
Total assetsLn 16$6.8M$7.3M
LiabilitiesLn 26$6.6M$8.3M
Net assetsLn 32$207K−$998K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$533K$533K$0$0
Payroll taxesLn 10$206K$206K$0$0
Advertising and promotionLn 12$475$475$0$0
Office expensesLn 13$1K$1K$0$0
Depreciation, depletion and amortizationLn 22$196K$196K$0$0
InsuranceLn 23$212K$212K$0$0
Other expenses (24a–d)Ln 24$997K$997K$0$0
Total functional expensesLn 25$2.1M$2.1M$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $940K$2.1M−$1.2M−$998K 990 PDF
FY2024 $758K$2.0M−$1.3M$207K 990 PDF
FY2023 $2.6M$1.9M$728K$1.5M 990 PDF
FY2022 $2.5M$1.6M$875K$744K 990 PDF
FY2021 $3K$135K−$132K−$132K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $940,416 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $97,780$58,158
I-9 Program service revenuePrior year $544,778$825,007
I-10 Investment incomePrior year $115,657$57,251
I-11 Other revenue$0
I-12 Total revenuePrior year $758,215$940,416
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $747,757$739,101
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $1,275,319$1,406,546
I-18 Total expensesPrior year $2,023,076$2,145,647
I-19 Revenue less expensesPrior year −$1,264,861−$1,205,231
Part VI · Governance 5 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members5
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $940,416 across 5 lines filed
VIII-1f All other contributions, gifts and grants$58,158
VIII-1h Total contributions, gifts and grants$58,158
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$825,007
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$57,251
VIII-12 Total revenueRelated to mission $882,258 · Unrelated business $0 · Excluded from tax $0$940,416
Part IX · Statement of functional expenses $2,145,647 across 7 lines filed
IX-7 Other salaries and wagesPrograms $533,447 · Management $0 · Fundraising $0$533,447
IX-10 Payroll taxesPrograms $205,654 · Management $0 · Fundraising $0$205,654
IX-12 Advertising and promotionPrograms $475 · Management $0 · Fundraising $0$475
IX-13 Office expensesPrograms $1,339 · Management $0 · Fundraising $0$1,339
IX-22 Depreciation, depletion and amortizationPrograms $195,595 · Management $0 · Fundraising $0$195,595
IX-23 InsurancePrograms $212,131 · Management $0 · Fundraising $0$212,131
IX-24 Other expenses (24a–d)Programs $997,006 · Management $0 · Fundraising $0$997,006
IX-25 Total functional expensesPrograms $2,145,647 · Management $0 · Fundraising $0$2,145,647
Part X · Balance sheet $7,279,270 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $437,062$103,178
X-4 Accounts receivableStart of year $10,851$100
X-9 Prepaid expenses and deferred chargesStart of year $207,343$189,583
X-10c Land, buildings and equipment, netStart of year $4,649,422$6,380,851
X-11 Publicly traded securitiesStart of year $1,512,777$605,558
X-16 Total assetsStart of year $6,817,455$7,279,270
X-17 Accounts payable and accrued expensesStart of year $206,942$45,824
X-18 Grants payableStart of year $93,515$0
X-19 Deferred revenueStart of year $0$60,098
X-25 Other liabilitiesStart of year $6,310,140$8,171,721
X-26 Total liabilitiesStart of year $6,610,597$8,277,643
X-32 Total net assets or fund balancesStart of year $206,858−$998,373
X-33 Total liabilities and net assetsStart of year $6,817,455$7,279,270
Part XI · Reconciliation of net assets −$998,373 net assets at year end
XI-1 Total revenue$940,416
XI-2 Total expenses$2,145,647
XI-3 Revenue less expenses−$1,205,231
XI-4 Net assets at start of year$206,858
XI-10 Net assets at end of year−$998,373

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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