Polk Theatre Inc

Analysis

Polk Theatre Inc is a registered charity in United States, based in Lakeland, FL. It received its IRS tax-exemption ruling in June 1983, 43 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Polk Theatre Inc reported income of $668k and spending of $857k, spending 128% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $1.1m to $668k (-37%), an average of -11% a year. The sharpest change came in the year to September 2021, when income rose by 54%. Over the whole period it spent 109% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Polk Theatre Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 77th percentile within FL. Charities of a similar size with the same main cause include Fishtown Preservation Society Inc ($668k), Tucson Girls Chorus Association Inc ($668k) and Alliance Francaise of Portland ($668k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Compensation of current officers, directors and key employees was $91k (11% of expenses). Other salaries and wages came to $227k. It paid $2,975 in professional fundraising fees. At year end it held assets of $1.9m against liabilities of $244k, net assets of $1.7m. It reported 31 employees.