Indy Drag Theatre

“The Form 990 was prepared by IDTs Treasurer in coordination with the organizations financial records and board-approved documentation. Prior to filing the completed return was reviewed by the Board of Directors to ensure accuracy and completeness. Board members were given the opportunity to raise questions or concerns before the return was approved for submission. The organization retains a copy of the filed return in accordance with its document retention policy.”

“Indy Drag Theatre Inc. implements a strict Conflict of Interest Policy for its board members and officers. They are required to disclose any financial interests or relationships annually that could create a conflict. Prior to voting members must declare any personal or financial stakes refrain from participating in discussions and voting and leave the meeting if necessary. All abstentions and reasons are documented in the meeting minutes. In case a conflict emerges after a decision the Board evaluates if it was in the organizations best interest and takes corrective actions. The Policy undergoes an annual review by the entire Board of Directors.”

“Indy Drag Theatre Inc. offers its governing documents conflict of interest policy and financial statements to the public upon request. To receive copies individuals can contact the organization via its official email. The Form 990 once filed will be available to the public through the IRS and platforms like GuideStar Candid as required by federal regulations.”

“| Explanation:| 2a: Ticket sales and box office revenue from original theatrical productions including program services provided to artistic collaborators.”

“This is an amended return filed to correct classification disclosure and presentation issues identified after the original filing on April 2 2026. Changes include: 1 Box L year of formation corrected from 2023 to 2024 to reflect the actual formation of the nonprofit corporation the 2023 date related to the predecessor LLC a separate legal entity. 2 Part VII board members updated from stage names to legal names and titles corrected from Member at Large to Director to match governing documents. 3 Part V Line 1a updated from 0 to 33 to reflect total Forms 1099-NEC filed with transmittal Form 1096 for calendar year 2025.4 Part IX functional expense reclassification across Lines 11c 11g 13 14 16 23 and 24 including correction of 8,861 in state filing fees and charitable solicitation registration costs that were misclassified as Insurance on Line 23; IDT carries no organizational insurance.5 Balance sheet beginning of year corrected to 0 across all lines consistent with initial return treatment for the new nonprofit corporation entity. 6 Schedule O narratives updated to accurately describe entity formation and revenue sources. 7 Schedule L Part IV added to disclose business transaction with SPS Bookkeeping LLC 1,500 for 990 preparation services a 35% controlled entity of Treasurer Sean Seager. Part IV Lines 28a and 28c on Form 990 updated from No to Yes accordingly.”

“Indy Drag Theatre”

“Contractor or Professional Services rendered per production of show”

“| Explanation:| Indy Drag Theatre Inc. is filing its initial Form 990 for tax year 2025. The organization was incorporated as an Indiana nonprofit corporation in September 2024 under a new EIN 99-5026180. The determination letters effective date of exemption April 4 2023 reflects IRS recognition under the 27-month rule of Rev. Proc. 2024-5 of the continuous charitable purpose carried on by the predecessor LLC and continued by the nonprofit corporation after the 09 20 2024 asset transfer. For federal income tax and Form 990 reporting purposes however the nonprofit corporation is a separate legal entity from the dissolved LLC and this return is the nonprofit corporations initial Form 990. Beginning-of-year balance sheet amounts are reported as zero consistent with the new entitys first tax period; the LLCs final tax obligations were closed through Schedule C on the sole members 2024 personal return.”

“| Explanation:| Line 11g includes contractor stipends for cast and crew across four productions 46,579 and specialized professional services including ASL interpretation and production photography 2,825. Accounting fees of 1,500 are separately reported on Line 11c”

“| Explanation:| Line 24a Production costs costumes and wigs: Direct costs of costuming and wig materials for theatrical productions amount to 7,654. Line 24b Production costs sets props lighting hair & makeup: Direct materials for set construction props lighting equipment and hair makeup for theatrical productions total 11,468. Line 24c Production costs venue hospitality: VIP refreshments and hospitality services provided as part of theatrical productions at contracted venues sum up to 5,664. Line 24D - Other Expenses: State filing fees and charitable solicitation registration 8,861; board meals and meetings 1,164; special events 749; reimbursable expenses 500; merchandise reconciliation adjustment 1,583; promotional items 8.”

“| Explanation:| Outstanding deposit returned to company from Occupancy rent with The District Theatre payable upon request in 2026.”