Civic Intelligence

Frank Theatre

990 • Fiscal year 2023 • EIN 41-1677750

Jul 01, 2022 to Jun 30, 2023 • Filed on May 09, 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.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Liabilities / Revenue

65th percentile

0.01x

Higher debt load relative to revenue than 65% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Net Margin

86th percentile

38%

Higher net margin than 86% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Top Officer Pay

93rd percentile

$56,238

Higher top officer pay than 93% of similar nonprofits.

Top officer pay equals 36.8% of source-year revenue.

2023 filings • 501(c)3 • <$500k nonprofits • Source year 2023

Asset Growth

70th percentile

16%

Faster asset growth than 70% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Revenue Growth

70th percentile

27%

Faster revenue growth than 70% of similar nonprofits.

2023 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets61st percentile

Assets

Up

$434,170

Up $59,812 (+16%) from 2022

Net Assets

Up

$433,074

Up $58,716 (+16%) from 2022

Liabilities

Up

$1,096

Up $1,096 from 2022

Revenue And Expenses
Liabilities / Revenue65th percentileNet Margin86th percentile

Revenue

Up

$152,942

Up $32,196 (+27%) from 2022

Expenses

Up

$94,483

Up $6,294 (+7.1%) from 2022

Net Income

Up

$58,459

Up $25,902 (+80%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth70th 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

2023

Assets$434,170
Liabilities$1,096
Net Assets$433,074
Open 2023 Filing

Operations Trend

Revenue Growth70th 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

2023

Revenue$152,942
Expenses$94,483
Net Income$58,459
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 9, 2024
Return Version
2022v5.0
Gross Receipts
$152,942
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$333,770$391,581▲ $57,811
Investments in Publicly Traded Securities$33,892$34,965▲ $1,073
Land, Buildings, and Equipment, Net$6,696$7,624▲ $928
Total Assets$374,358$434,170▲ $59,812
Liabilities
Accounts Payable and Accrued Expenses-$1,096-
Total Liabilities$0$1,096▲ $1,096
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$374,358$433,074▲ $58,716
Total Net Assets Fund Balance$374,358$433,074▲ $58,716
Total Liabilities and Net Assets / Fund Balance$374,358$434,170▲ $59,812

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,624$24,660-
Compensation and Service Providers
Top Officer Pay93rd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Wendy KnoxSecretaryFT$56,238$56,238

Board Members and Trustees

NameTitle
Lucas EricksonChair
Janis HardyVice Chair
Carol GradyAsst Secretary
Laura MatsonAsst Secretary
Rhiannon FiskradatzAsst Secretary
Spencer PutneyAsst Secretary
Virginia BuranAsst Secretary
Willie JohnsonAsst Secretary
Leif JurgensenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$151,746
Program Service Revenue
$0
Investment Income
$1,196
Other Revenue
$0
All Other Contributions
$42,685
Change in Net Assets
$58,459
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$65,631
Other Expenses$28,852
Total Fundraising Expense$2,286
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$28,119$28,119-$56,238
Occupancy$12,810--$12,810
Fees for Services Other$626$1,093$2,286$4,005
Other Salaries and Wages$3,499--$3,499
Information Technology-$3,442-$3,442
Payroll Taxes$1,668$1,668-$3,336
Other Employee Benefits$1,279$1,279-$2,558
Insurance-$2,428-$2,428
Depreciation Depletion-$1,339-$1,339
Office Expenses-$1,256-$1,256
Other Expenses$960--$960
Advertising$693--$693
Total Functional Expenses$51,573$40,624$2,286$94,483
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
2024-05-09
Discuss with paid preparer
Yes

Organization Details

Formed
1990
Legal Domicile
Mn
Voting Board Members
9
Independent Board Members
8
Employees
1

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 8 frankly speaking events and 6 story circles. The theatre experienced 6,900 views of the frankly speaking series and had 30 participants in story circles.”

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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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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0183672
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0126833
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IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0533
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt017693
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt026205
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt055053
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt098951
IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearAmt01196
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IRS990ScheduleA/InvestmentIncomeAndUBTIGrp/CurrentTaxYearMinus4YearsAmt0533
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IRS990ScheduleA/InvestmentIncomeCYPct00.01000
IRS990ScheduleA/InvestmentIncomePYPct00.00000
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus2YearsAmt01502
IRS990ScheduleA/OtherIncome509Grp/CurrentTaxYearMinus3YearsAmt02083
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IRS990ScheduleA/PublicSupportCY509Pct00.99060
IRS990ScheduleA/PublicSupportPY509Pct00.99110
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt0119626
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0209877
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0181886
IRS990ScheduleA/Total509Grp/TotalAmt0832604
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearAmt0152942
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus1YearAmt0120746
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus2YearsAmt0171875
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt0212558
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt0182419
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt0840540
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt07624
IRS990ScheduleD/EquipmentGrp/DepreciationAmt024660
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt032284
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07624
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IRS990/ScheduleORequiredInd0true
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 8 FRANKLY SPEAKING EVENTS AND 6 STORY CIRCLES. THE THEATRE EXPERIENCED 6,900 VIEWS OF THE FRANKLY SPEAKING SERIES AND HAD 30 PARTICIPANTS IN STORY CIRCLES.
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/SubjectToProxyTaxInd0false
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IRS990/TaxableDistributionsInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt0374358
IRS990/TotalAssetsGrp/EOYAmt0434170
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IRS990/TotalContributionsAmt0151746
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt02286
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt040624
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt051573
IRS990/TotalFunctionalExpensesGrp/TotalAmt094483
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt01096
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt01096
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0374358
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0433074
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt051573
IRS990/TotalReportableCompFromOrgAmt056238
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01196
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0152942
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0374358
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0434170
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.FRANKTHEATRE.ORG
IRS990/WhistleblowerPolicyInd0true
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ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
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ReturnHeader/BusinessOfficerGrp/PersonNm0WENDY KNOX
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0ARTISTIC DIRECT
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ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FRANK THEATRE
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ReturnHeader/Filer/USAddress/AddressLine1Txt03156 23RD AVE SO
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0411940783
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WEIVODA FINANCIAL LTD
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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$434,170
Liabilities
$1,096
Net assets
$433,074
Revenue
$152,942
Expenses
$94,483
Net income
$58,459
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.02$0.02$4.00$1.57$1.90$0.33
2023Detailed filing. Detailed filing data is available for this year.$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