Civic Intelligence

Lake Wales Arts Council Inc

EIN 23-7350046 • 501(c)3 • Lake Wales, FL

Profile

Promotion of the visual and performing arts in lake wales, florida

P O Box 608Lake Wales, FL 33859-0608

www.lakewalesartscouncil.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

54th percentile

0.08x

Higher debt load relative to assets than 54% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

81st percentile

0.50x

Higher debt load relative to revenue than 81% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

83rd percentile

35%

Higher net margin than 83% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

20th percentile

-6.9%

Faster asset growth than 20% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

5th percentile

-55%

Faster revenue growth than 5% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Down

$1,814,311

Down $133,825 (-6.9%) from 2023

Liabilities

Down

$151,560

Down $52,953 (-26%) from 2023

Net Assets

Down

$1,662,751

Down $80,872 (-4.6%) from 2023

Revenue

Down

$301,200

Down $363,835 (-55%) from 2023

Expenses

Down

$194,867

Down $475,451 (-71%) from 2023

Net Income

Up

$106,333

Up $111,616 (+2113%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2011: $1,357,080Liabilities 2011: $47,064Net Assets 2011: $1,310,0162011Assets 2012: $381,251Liabilities 2012: $2,298Net Assets 2012: $378,9532012Assets 2017: $249,846Liabilities 2017: $74Net Assets 2017: $249,7722017Assets 2018: $1,871,027Liabilities 2018: $760Net Assets 2018: $1,870,2672018Assets 2019: $1,856,409Liabilities 2019: $10,063Net Assets 2019: $1,846,3462019Assets 2020: $1,907,192Liabilities 2020: $31,988Net Assets 2020: $1,875,2042020Assets 2021: $1,840,832Liabilities 2021: $81,456Net Assets 2021: $1,759,3762021Assets 2022: $1,816,498Liabilities 2022: $67,592Net Assets 2022: $1,748,9062022Assets 2023: $1,948,136Liabilities 2023: $204,513Net Assets 2023: $1,743,6232023Assets 2024: $1,814,311Liabilities 2024: $151,560Net Assets 2024: $1,662,7512024

Highlighted filing

2024

Assets$1,814,311
Liabilities$151,560
Net Assets$1,662,751

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$2.0M$1.5M$1.0M$500K$0-$500KExpenses 2011: $451,0782011Expenses 2012: $322,3012012Revenue 2017: $180,389Expenses 2017: $186,097Net Income 2017: -$5,7082017Revenue 2018: $1,871,689Expenses 2018: $253,946Net Income 2018: $1,617,7432018Revenue 2019: $381,020Expenses 2019: $403,280Net Income 2019: -$22,2602019Revenue 2020: $468,868Expenses 2020: $442,748Net Income 2020: $26,1202020Revenue 2021: $356,424Expenses 2021: $429,043Net Income 2021: -$72,6192021Revenue 2022: $466,226Expenses 2022: $476,696Net Income 2022: -$10,4702022Revenue 2023: $665,035Expenses 2023: $670,318Net Income 2023: -$5,2832023Revenue 2024: $301,200Expenses 2024: $194,867Net Income 2024: $106,3332024

Highlighted filing

2024

Revenue$301,200
Expenses$194,867
Net Income$106,333

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jun 1, 2024 to Sep 30, 2024
Signed
Mar 13, 2026
Return Version
2024v5.0
Gross Receipts
$301,200
Mission and Program Overview

Mission

Promotion of the visual and performing arts in lake wales, florida

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,425,709$1,415,781▼ $9,928
Cash and Non-Interest-Bearing Accounts$114,403$201,391▲ $86,988
Investments in Publicly Traded Securities$163,450$175,032▲ $11,582
Total Assets$1,725,669$1,814,311▲ $88,642
Other Assets Total$22,107$22,107→ $0
Liabilities
Other Liabilities$107,043$132,563▲ $25,520
Accounts Payable and Accrued Expenses$71,228$16,649▼ $54,579
Deferred Revenue$1,645$2,348▲ $703
Total Liabilities$179,916$151,560▼ $28,356
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,450,384$1,572,420▲ $122,036
Net Assets With Donor Restrictions$95,369$90,331▼ $5,038
Total Net Assets Fund Balance$1,545,753$1,662,751▲ $116,998
Total Liabilities and Net Assets / Fund Balance$1,725,669$1,814,311▲ $88,642

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$848,654$206,842$1,055,496
Land$567,127-$567,127

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2020$73,348-▼ $2,502$808$70,038
Compensation and Service Providers

Board Members and Trustees

NameTitle
Jessica GarrettPresident
Analisa NovoselBoard Member
Gail QuamBoard Member
Kristiana HeathBoard Member
Larkin SmithBoard Member
Rebecca ThomasBoard Member
Rusty IngleyBoard Member
Kristin VanpraetSecretary
Alricky SmithTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$269,452
Program Service Revenue
$20,521
Investment Income
$1,241
Other Revenue
$9,986
All Other Contributions
$105,747
Change in Net Assets
$106,333
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$160,045
Salaries, Compensation, and Employee Benefits$34,822
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$26,026$4,592-$30,618
Comp Disqual Persons$20,769$2,308-$23,077
Other Salaries and Wages$9,161$2,584-$11,745
Depreciation Depletion$9,927--$9,927
Fees for Services Accounting$6,708$1,184-$7,892
Other Expenses$6,700--$6,700
All Other Expenses$5,806--$5,806
Office Expenses$3,390$462-$3,852
Interest$2,807--$2,807
Insurance$1,499$264-$1,763
Fees for Service Investment Mgmnt Fees-$243-$243
Total Functional Expenses$183,230$11,637$0$194,867
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Citizens Bank Loc$132,000
Florida Dept of Rev Payable$563
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

X

Form 990, Page 6, Part VI, Line 7A

X

Form 990, Page 6, Part VI, Line 11B

The board has a chance to review and approve the 990.

Form 990, Page 6, Part VI, Line 12C

The board members are required to disclose any conflicts of interest annually.

Form 990, Page 6, Part VI, Line 15A

Executive director salary is set by the board of directors and is based on comparable organizations in the same regional area.

Form 990, Page 6, Part VI, Line 19

All governing documents are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Lake Wales Arts Council Inc
EIN
23-7350046
Phone
8636768426
Address
P O BOX 608, LAKE WALES, FL 33859-0608

Signing Officer

Name
Tommy Frank
Title
Executive Director
Phone
8636768426
Signed
2026-03-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Tommy Frank
Formed
1972
Legal Domicile
Fl
Voting Board Members
11
Independent Board Members
11
Employees
3
Volunteers
500

Preparer

Firm
Bunting Tripp & Ingley Llp
Address
230 EAST TILLMAN AVENUE, LAKE WALES, FL 33853-3714
Preparer
Roger a Ingley
Phone
8636767981
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

Maintained art museum with exhibits and concerts. Additionally presented a summer arts camp for area youth.

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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0TICKET SALES, ENTRY FEES ETC 30,507
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0269452
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0530111
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0281626
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01350641
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt01191
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01191
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt03526
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt05908
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0199723
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearAmt030507
IRS990ScheduleA/OtherIncome170Grp/CurrentTaxYearMinus1YearAmt030507
IRS990ScheduleA/OtherIncome170Grp/TotalAmt061014
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IRS990ScheduleA/PublicSupportPY170Pct00.95880
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0269452
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0530111
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0281626
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IRS990ScheduleA/TotalSupportAmt01417563
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IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt070038
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0567127
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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0206842
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01055496
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0132000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1563
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CITIZENS BANK LOC
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1FLORIDA DEPT OF REV PAYABLE
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt01415781
IRS990ScheduleD/TotalLiabilityAmt0132563
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0MAINTAINED ART MUSEUM WITH EXHIBITS AND CONCERTS. ADDITIONALLY PRESENTED A SUMMER ARTS CAMP FOR AREA YOUTH.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1X
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2X
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD HAS A CHANCE TO REVIEW AND APPROVE THE 990.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OF INTEREST ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5EXECUTIVE DIRECTOR SALARY IS SET BY THE BOARD OF DIRECTORS AND IS BASED ON COMPARABLE ORGANIZATIONS IN THE SAME REGIONAL AREA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ALL GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/TotalEmployeeCnt03
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0183230
IRS990/TotalFunctionalExpensesGrp/TotalAmt0194867
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0179916
IRS990/TotalLiabilitiesEOYAmt0151560
IRS990/TotalLiabilitiesGrp/BOYAmt0179916
IRS990/TotalLiabilitiesGrp/EOYAmt0151560
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01545753
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01662751
IRS990/TotalOtherProgSrvcExpenseAmt030696
IRS990/TotalProgramServiceExpensesAmt0183230
IRS990/TotalProgramServiceRevenueAmt020521
IRS990/TotalRevenueGrp/ExclusionAmt031698
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt050
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0301200
IRS990/TotalVolunteersCnt0500
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01725669
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01814311
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01099 SR 60 EAST
IRS990/USAddress/CityNm0LAKE WALES
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd033853
IRS990/VotingMembersGoverningBodyCnt011
IRS990/VotingMembersIndependentCnt011
IRS990/WebsiteAddressTxt0WWW.LAKEWALESARTSCOUNCIL.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0TOMMY FRANK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum08636768426
ReturnHeader/BusinessOfficerGrp/SignatureDt02026-03-13
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAKE WALES ARTS COUNCIL INC
ReturnHeader/Filer/BusinessNameControlTxt0LAKE
ReturnHeader/Filer/EIN0237350046
ReturnHeader/Filer/PhoneNum08636768426
ReturnHeader/Filer/USAddress/AddressLine1Txt0P O BOX 608
ReturnHeader/Filer/USAddress/CityNm0LAKE WALES
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd0338590608
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0590673514
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BUNTING TRIPP & INGLEY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0230 EAST TILLMAN AVENUE

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