It is difficult to evaluate your objectives and mission when there are no indications of the season you are applying to support.

Your website shows a certain symptom of the theatre: pictures of a white artist in residence teaching many young students of color.  White people teaching people of color what theatre is.  Consider collaboration rations at a scale that equals your demographics.  If 25% of your target audience are POC, then your content on stage should reflect it.  Currently your season does not.

From this application, which appears to follow pre-existing copy, I will note that this organization appears to be coasting, not actively managing the needs of its stakeholders and community.  Nonetheless, I did not give it a low score because it does continue to be productive.

Consider making your season a representation of your target population, over 25% black , as per your application info.  Does your onstage content represent your constituency?  You have made progress in many areas, but it seems these areas are not include equal progress in onstage content.

No measurable Objectives.

I was confused by the initial statement of "one of two professional musical theatres in the state of Florida"

Impact numbers are nice.

Very nice budget numbers.