Polk Theatre Inc
- Assets
- $1.9m
- Revenue
- $668.4k
- Investments
- $0.0
- Employees
- 31
- Location
- Lakeland, FL
- Founding
- 06/1983
- Data as of
- 09/2023
- EIN
- 59-2274522
Organization Overview
Polk Theatre Inc is located in Lakeland, FL. The organization was established in 1983. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 09/2023, Polk Theatre Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Polk Theatre Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2023, Polk Theatre Inc generated $668.4k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $857.3k during the year ending 09/2023. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RESTORATION AND PRESERVATION OF HISTORIC ATMOSPHERIC THEATRE
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESTORATION AND PRESERVATION OF POLK THEATRE; PROVIDING SERIES AND SPECIAL EVENTS OPEN TO THE GENERAL PUBLIC; MAKING THE THEATRE AVAILABLE TO THE COMMUNITY FOR SPECIAL EVENTS; COLLECTING AND PRESERVING HISTORICAL MATERIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Leslie Sikora President/ce | OfficerTrustee | 40 | $90,573 |
James Edwards Chairman | Trustee | 2.5 | $0 |
Brad Crenshaw Secretary | OfficerTrustee | 1 | $0 |
Matthew Schichtel Treasurer | OfficerTrustee | 1 | $0 |
Jj Weeks Trustee | OfficerTrustee | 0.5 | $0 |
Gate Arty Trustee | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $192,698 |
| All other contributions, gifts, grants, and similar amounts not included above | $104,756 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $297,454 |
| Total Program Service Revenue | $370,670 |
| Investment income | $82 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $668,380 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $90,573 |
| Compensation of current officers, directors, key employees. | $45,287 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $226,741 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $28,279 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,975 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,802 |
| Office expenses | $31,667 |
| Information technology | $1,995 |
| Royalties | $0 |
| Occupancy | $87,818 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,240 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $81,240 |
| Insurance | $40,174 |
| All other expenses | $25,667 |
| Total functional expenses | $857,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,440 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,868,467 |
| Investments—publicly traded securities | $4,902 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,158 |
| Total assets | $1,893,967 |
| Accounts payable and accrued expenses | $96,476 |
| Grants payable | $0 |
| Deferred revenue | $45,757 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $101,576 |
| Total liabilities | $243,809 |
| Net assets without donor restrictions | $1,531,665 |
| Net assets with donor restrictions | $118,493 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,893,967 |