Polk Arts Alliance Inc

Nonprofit profile at a glance

EIN
300264417
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2022, Form 990-T 2024
Location
Lakeland, FL, USA
Phone
8638040494
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Arts, Cultural Organizations - Multipurpose

Reported finances

Revenue
$279,367
Expenses
$288,405
Assets
$154,479
Liabilities
$75,560

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

16 people listed

Executive titles in this filing

  • DARYL WARD (EXECUTIVE DIRECTOR)

Highest reported compensation

  • DARYL WARD (EXECUTIVE DIRECTOR): $60,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The mission of the polk arts alliance, inc. Is to cultivate an environment in which all the arts flourish. This corporation is organized generally to develop, coordinate, and promote the visual and performing arts and cultural activities and endeavors in polk county, Florida.

What it reported doing in 2024

Hall of fame gala - inducts people into the polk arts & culture hall of fame for lifetime achievement in polk's arts and culture sector. The event also honors local arts and cultural organizations and individuals as a part of the annual awards celebration (at the hall of fame gala). The 2023 gala had 280 people in attendance.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 88% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 71
  • Transparency & Controls: 77
  • Accountability: 74
  • Sustainability: 26
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.2%; rating input score 81
  • Program expense ratio: 78.7%; rating input score 79
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 50%; rating input score 50; 42nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -3.2%; rating input score 32; 32nd percentile among comparable filings
  • Total-asset coverage ratio: 0.54; rating input score 26; 26th percentile among comparable filings
  • Liabilities to assets ratio: 0.49; rating input score 11; 11th percentile among comparable filings
  • Officer compensation ratio: 20.8%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 21% per year; rating input score 100; 85th percentile among comparable filings
  • Revenue growth: 8.2% per year; rating input score 100; 67th percentile among comparable filings
  • Asset growth: 11.8% per year; rating input score 100; 71st percentile among comparable filings

Details

  • Where the money goes: 81.2% of revenue deployed · 78.7% of spending went to programs
  • Governance: 15 of 15 board members independent · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $227K in reported program spending
  • Leadership: top reported pay $60K · 16 people listed
  • Consistency: 26 of 27 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Review — Transparency & Controls: Grant itemization coverage scored 50/100.
  • Moderate — Sustainability: Operating margin scored 32/100.
  • High — Sustainability: Total-asset coverage ratio scored 26/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 11/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.