Overview
What is Polk Theatre Inc?
Polk Theatre Inc, situated in Lakeland, Florida, is a dedicated nonprofit organization with a focus on restoring and preserving the historic Polk Theatre. This mission extends beyond simple renovation, encompassing the maintenance of the theatre's distinctive atmosphere. The organization also hosts a variety of series and special events, making the theatre accessible to the general public. In addition, Polk Theatre Inc provides the community with an opportunity to utilize the theatre for special events of their own. To complement its restoration efforts, the nonprofit collects and preserves historical materials related to the theatre, ensuring its rich history remains intact. With a team of 30 dedicated individuals, Polk Theatre Inc is committed to upholding the legacy of this beloved cultural landmark.
Official website here: www.polktheatre.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement (Two-Star out of Four Stars - 73%)
Polk Theatre Inc received a Two-Star rating from Charity Navigator, indicating that there are areas needing improvement, particularly in transparency and financial reporting. The organization scored well for accountability and finance, with a perfect score in certain metrics, such as independent board members and material diversion of assets. However, the absence of financial statements significantly affected their overall score.
A notable strength of Polk Theatre Inc is its governance structure, which features a fully independent board, ensuring that decisions are made without conflicts of interest. The organization also has effective policies in place regarding conflict of interest and retention of documents. Despite these positives, the lack of a whistleblower policy and a failure to post key financial documents on its website are concerning limitations.
Additionally, the nonprofit demonstrates a solid program expense ratio of 74.7%, indicating that a significant portion of its spending is directed towards its programs. However, the missing financial documentation suggests a need for greater transparency to build trust with donors and stakeholders. Overall, while Polk Theatre Inc has strengths in governance and program expenditures, it must address its reporting deficiencies to enhance its credibility and rating.
This AI summary has been generated from information found on Charity Navigator.
Is Polk Theatre Inc legitimate?
Polk Theatre Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Polk Theatre Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $90,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $216,348
For more financial information, click here
Official website here: www.polktheatre.org
What is the mission statement of Polk Theatre Inc?
Polk Theatre Inc is dedicated to the restoration and preservation of a historic atmospheric theatre. This mission involves not only restoring the Polk Theatre itself but also making it available for series and special events open to the public. The organization also collects and preserves historical materials related to the theatre. Furthermore, Polk Theatre Inc allows the community to utilize the theatre for their own special events, contributing to the overall preservation and appreciation of this historic venue.
Official website here: www.polktheatre.org
Who is the CEO of Polk Theatre Inc?
Leslie Sikora is the President/Ce of Polk Theatre Inc.
Official website here: www.polktheatre.org
What is the revenue of Polk Theatre Inc?
Polk Theatre Inc's revenue in 2022 was $670,049.
Official website here: www.polktheatre.org
Who are the executives of Polk Theatre Inc and what are their salaries?
The average compensation at Polk Theatre Inc during 2022 was $10,212. There are 30 employees and 46 volunteers at Polk Theatre Inc.
Here are 9 key members and their salaries:
- Compensation: $90,000
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- Other: $0
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Official website here: www.polktheatre.org
Where can I find the form 990 for Polk Theatre Inc?
Polk Theatre Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.polktheatre.org
Learn more at the official website: www.polktheatre.org
Mission Statement of Polk Theatre Inc
Polk Theatre Inc, a nonprofit organization, is committed to the restoration and preservation of a historic atmospheric theatre. This mission is twofold. Firstly, Polk Theatre Inc works tirelessly to restore the Polk Theatre itself to its former glory, maintaining its unique charm and character. Secondly, the organization makes the theatre available for series and special events, open to the general public. By doing so, Polk Theatre Inc ensures that this historic venue remains a vital part of the community. Furthermore, Polk Theatre Inc collects and preserves historical materials related to the theatre, safeguarding its rich history for future generations to appreciate. In addition to these endeavors, Polk Theatre Inc makes the theatre available for special events, providing a historical backdrop for various community gatherings.
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Impact
July, 2024
Polk Theatre Inc's impact lies in the restoration and preservation of the historic atmospheric theatre located in Lakeland, Florida. By undertaking this mission, Polk Theatre Inc ensures that this cultural landmark is kept alive for future generations to enjoy. Additionally, the organization provides a platform for series and special events open to the general public, further enriching the community's cultural experiences. Through its efforts in collecting and preserving historical materials related to the theatre, Polk Theatre Inc plays a vital role in safeguarding the local heritage.
This information is meant to be a general summary of Polk Theatre Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $75
- Program Service Revenue: $398,932
- Gross Receipts: $670,049
Assets and Liabilities:
- Total Assets: $2,007,426
- Total Liabilities: $168,968
- Net Assets: $1,838,458
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$264,881
FACILITIES RENT
Revenue
$134,051
Organization Details
Founding Year
1982
Phone
(863) 682-7553Principal Officer
Leslie Sikora
Main Address
139 S FLORIDA AVENUE, LAKELAND, FL, 33801
Website
www.polktheatre.orgNTEE Category
Code: A610 - Arts
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