Civic Intelligence

Frank Theatre

990 • Fiscal year 2024 • EIN 41-1677750

Jul 01, 2023 to Jun 30, 2024 • Filed on Nov 27, 2024

Organization ProfileWWW.FRANKTHEATRE.ORG
3156 23rd Ave SoMinneapolis, MN 55407

(612) 724-3760

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

61st percentile

0.00x

Higher debt load relative to assets than 61% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

67th percentile

0.01x

Higher debt load relative to revenue than 67% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

18th percentile

-21%

Higher net margin than 18% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

94th percentile

$60,000

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 38.2% of source-year revenue.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

35th percentile

-7.4%

Faster asset growth than 35% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

50th percentile

2.6%

Faster revenue growth than 50% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets61st percentile

Assets

Down

$401,858

Down $32,312 (-7.4%) from 2023

Net Assets

Down

$400,079

Down $32,995 (-7.6%) from 2023

Liabilities

Up

$1,779

Up $683 (+62%) from 2023

Revenue And Expenses
Liabilities / Revenue67th percentileNet Margin18th percentile

Revenue

Up

$156,939

Up $3,997 (+2.6%) from 2023

Expenses

Up

$189,934

Up $95,451 (+101%) from 2023

Net Income

Down

-$32,995

Down $91,454 (-156%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth35th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0Assets 2011: $114,385Liabilities 2011: $1,865Net Assets 2011: $112,5202011Assets 2012: $117,452Liabilities 2012: $6252012Assets 2013: $142,833Liabilities 2013: $2,334Net Assets 2013: $140,4992013Assets 2014: $171,572Liabilities 2014: $1,479Net Assets 2014: $170,0932014Assets 2015: $184,069Liabilities 2015: $821Net Assets 2015: $183,2482015Assets 2016: $168,467Liabilities 2016: $187Net Assets 2016: $168,2802016Assets 2017: $285,080Liabilities 2017: $2,429Net Assets 2017: $282,6512017Assets 2018: $242,795Liabilities 2018: $0Net Assets 2018: $242,7952018Assets 2019: $209,813Liabilities 2019: $2,425Net Assets 2019: $207,3882019Assets 2020: $257,488Liabilities 2020: $17,147Net Assets 2020: $240,3412020Assets 2021: $348,506Liabilities 2021: $14,461Net Assets 2021: $334,0452021Assets 2022: $374,358Liabilities 2022: $0Net Assets 2022: $374,3582022Assets 2023: $434,170Liabilities 2023: $1,096Net Assets 2023: $433,0742023Assets 2024: $401,858Liabilities 2024: $1,779Net Assets 2024: $400,0792024

Highlighted filing

2024

Assets$401,858
Liabilities$1,779
Net Assets$400,079
Open 2024 Filing

Operations Trend

Revenue Growth50th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$400K$200K$0-$200KRevenue 2011: $233,941Expenses 2011: $194,276Net Income 2011: $39,6652011Revenue 2012: $120,570Expenses 2012: $118,128Net Income 2012: $2,4422012Revenue 2013: $219,919Expenses 2013: $196,248Net Income 2013: $23,6712013Revenue 2014: $292,378Expenses 2014: $262,784Net Income 2014: $29,5942014Revenue 2015: $214,367Expenses 2015: $201,212Net Income 2015: $13,1552015Revenue 2016: $227,400Expenses 2016: $238,866Net Income 2016: -$11,4662016Revenue 2017: $373,619Expenses 2017: $259,853Net Income 2017: $113,7662017Revenue 2018: $177,692Expenses 2018: $217,548Net Income 2018: -$39,8562018Revenue 2019: $182,419Expenses 2019: $217,076Net Income 2019: -$34,6572019Revenue 2020: $212,558Expenses 2020: $173,641Net Income 2020: $38,9172020Revenue 2021: $171,875Expenses 2021: $83,639Net Income 2021: $88,2362021Revenue 2022: $120,746Expenses 2022: $88,189Net Income 2022: $32,5572022Revenue 2023: $152,942Expenses 2023: $94,483Net Income 2023: $58,4592023Revenue 2024: $156,939Expenses 2024: $189,934Net Income 2024: -$32,9952024

Highlighted filing

2024

Revenue$156,939
Expenses$189,934
Net Income-$32,995
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Nov 27, 2024
Return Version
2023v5.1
Gross Receipts
$156,939
Mission and Program Overview

Mission

Presentation / production of live theater

Presentation / production of live theater. However because of covid focus shifted to online frankly speaking events and story circles.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$391,581$393,902▲ $2,321
Land, Buildings, and Equipment, Net$7,624$6,191▼ $1,433
Investments in Publicly Traded Securities$34,965$965▼ $34,000
Accounts Receivable-$800-
Total Assets$434,170$401,858▼ $32,312
Liabilities
Accounts Payable and Accrued Expenses$1,096$1,779▲ $683
Total Liabilities$1,096$1,779▲ $683
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$433,074$400,079▼ $32,995
Total Net Assets Fund Balance$433,074$400,079▼ $32,995
Total Liabilities and Net Assets / Fund Balance$434,170$401,858▼ $32,312

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$6,191$26,093-
Compensation and Service Providers
Top Officer Pay94th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Wendy KnoxSecretaryFT$60,000$60,000

Board Members and Trustees

NameTitle
Lucas EricksonChair
Carol GradyAsst Secretary
Elaine Tyler MayAsst Secretary
Rhiannon FiskradatzAsst Secretary
Willie JohnsonAsst Secretary
Leif JurgensenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$115,749
Program Service Revenue
$40,786
Investment Income
$404
Other Revenue
$0
All Other Contributions
$56,639
Change in Net Assets
$-32,995
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$130,892
Other Expenses$59,042
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$30,000$30,000-$60,000
Other Salaries and Wages$43,756--$43,756
Occupancy$21,400--$21,400
Other Employee Benefits$14,190$1,615-$15,805
Payroll Taxes$6,475$4,856-$11,331
Other Expenses$4,641--$4,641
All Other Expenses-$4,555-$4,555
Insurance-$3,840-$3,840
Royalties$3,209--$3,209
Advertising$3,186--$3,186
Fees for Services Other$2,343--$2,343
Depreciation Depletion-$1,433-$1,433
Office Expenses-$293-$293
Total Functional Expenses$143,342$46,592$0$189,934
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
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

Committee meeting documentation Part VI line 8B

“Both the general board and any committees of the board regulary record the minutes of all meetings held.”

Form 990 governing body review Part VI line 11

“Financial information is gathered by the artistic director (who also sits on the board). Once the information is finalized, it is turned over the the theaters accountant who prepares the year end financial statements and form 990. The statements are reviewd by the artisitic director and typically the treasurer and/or assistant treasurer on the board. Once the 990 has been prepared and submitted, a copy is also reviewed by at least one other board member.”

Conflict of interest policy compliance Part VI line 12C

“Frank theatre has a policy that requires directors, officers, or committee members to sign a statement saying that they must disclose any direct or indirect financial interest that would compromise the indepenent relationship to frank theatre.”

CEO executive director top management comp Part VI line 15A

“Salary for the artistic director was set in 2016 and is reviewed annually by the board.”

Governing documents etc available to public Part VI line 19

“Minnesota requires all financial information to be sumitted to the attorney generals office. This information is then available on guidestar, charities review and other similar websites.”

Filing and Contact Details

Filer

Filer Name
Frank Theatre
EIN
41-1677750
Address
3156 23RD AVE SO, MINNEAPOLIS, MN 55407

Signing Officer

Name
Wendy Knox
Title
Artistic Direct
Phone
6127243760
Signed
2024-11-27
Discuss with paid preparer
Yes

Organization Details

Formed
1990
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
8
Employees
7

Preparer

Firm
Weivoda Financial Ltd
Address
2750 YOSEMITE AVE SO, ST LOUIS PK, MN 55416
Preparer
Janet Weivoda
Phone
9522850085
Supplemental Narrative

Additional Explanations

List of other expenses Part IX line 24E

“Other function expenses are as follows:hospitality $139consulting fees $1,650printing $130set & sound $960other fundraising expenses included as function expense is as follows:printing, postage & supplies for fundraising event $2,286”

Part III response or note to any other line in Part III

“Due to covid a shift was made to online discussions instead of live theatre. The theatre hosted frankly speaking events and returned to live theater in this fiscal year.”

Raw XML Appendix388 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOTH THE GENERAL BOARD AND ANY COMMITTEES OF THE BOARD REGULARY RECORD THE MINUTES OF ALL MEETINGS HELD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FINANCIAL INFORMATION IS GATHERED BY THE ARTISTIC DIRECTOR (WHO ALSO SITS ON THE BOARD). ONCE THE INFORMATION IS FINALIZED, IT IS TURNED OVER THE THE THEATERS ACCOUNTANT WHO PREPARES THE YEAR END FINANCIAL STATEMENTS AND FORM 990. THE STATEMENTS ARE REVIEWD BY THE ARTISITIC DIRECTOR AND TYPICALLY THE TREASURER AND/OR ASSISTANT TREASURER ON THE BOARD. ONCE THE 990 HAS BEEN PREPARED AND SUBMITTED, A COPY IS ALSO REVIEWED BY AT LEAST ONE OTHER BOARD MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FRANK THEATRE HAS A POLICY THAT REQUIRES DIRECTORS, OFFICERS, OR COMMITTEE MEMBERS TO SIGN A STATEMENT SAYING THAT THEY MUST DISCLOSE ANY DIRECT OR INDIRECT FINANCIAL INTEREST THAT WOULD COMPROMISE THE INDEPENENT RELATIONSHIP TO FRANK THEATRE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SALARY FOR THE ARTISTIC DIRECTOR WAS SET IN 2016 AND IS REVIEWED ANNUALLY BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4MINNESOTA REQUIRES ALL FINANCIAL INFORMATION TO BE SUMITTED TO THE ATTORNEY GENERALS OFFICE. THIS INFORMATION IS THEN AVAILABLE ON GUIDESTAR, CHARITIES REVIEW AND OTHER SIMILAR WEBSITES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OTHER FUNCTION EXPENSES ARE AS FOLLOWS:HOSPITALITY $139CONSULTING FEES $1,650PRINTING $130SET & SOUND $960OTHER FUNDRAISING EXPENSES INCLUDED AS FUNCTION EXPENSE IS AS FOLLOWS:PRINTING, POSTAGE & SUPPLIES FOR FUNDRAISING EVENT $2,286
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6DUE TO COVID A SHIFT WAS MADE TO ONLINE DISCUSSIONS INSTEAD OF LIVE THEATRE. THE THEATRE HOSTED FRANKLY SPEAKING EVENTS AND RETURNED TO LIVE THEATER IN THIS FISCAL YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Committee meeting documentation Part VI line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other expenses Part IX line 24e
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Part III response or note to any other line in Part III
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IRS990/TotalFunctionalExpensesGrp/TotalAmt0189934
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01096
IRS990/TotalLiabilitiesEOYAmt01779
IRS990/TotalLiabilitiesGrp/BOYAmt01096
IRS990/TotalLiabilitiesGrp/EOYAmt01779
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0WENDY KNOX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0ARTISTIC DIRECT
ReturnHeader/BusinessOfficerGrp/PhoneNum06127243760
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-27
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANK THEATRE
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ST LOUIS PK
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JANET WEIVODA
ReturnHeader/ReturnTs02024-11-27T20:58:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$401,858
Liabilities
$1,779
Net assets
$400,079
Revenue
$156,939
Expenses
$189,934
Net income
-$32,995
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.02$0.02$4.00$1.57$1.90$0.33
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.34$0.01$4.33$1.53$0.94$0.58
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.74$0.00$3.74$1.21$0.88$0.33
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.49$0.14$3.34$1.72$0.84$0.88
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.57$0.17$2.40$2.13$1.74$0.39
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.10$0.02$2.07$1.82$2.17$0.35
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.43$0.00$2.43$1.78$2.18$0.40
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.85$0.02$2.83$3.74$2.60$1.14
2016Detailed filing. Detailed filing data is available for this year.$1.68$0.00$1.68$2.27$2.39$0.11
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.84$0.01$1.83$2.14$2.01$0.13
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.72$0.01$1.70$2.92$2.63$0.30
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$1.43$0.02$1.40$2.20$1.96$0.24
2012Summary only. Only limited summary data is available for this year.$1.17$0.01$1.21$1.18$0.02
2011Summary only. Only limited summary data is available for this year.$1.14$0.02$1.13$2.34$1.94$0.40