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Film Company
redsoxny
subscriber Posts: 1
I`ve been looking at gobignetwork.com but have some doubts (partially due to the upfront fee).
I started a film company, we have two films, both on IMDB, both award winners at festivals (one won best mini-feature this past weekend), however they`re both mini-features/shorts. In order to expand into the realm of feature film (what you usually see in the cinema), we need the money for equipment/payroll/etc. As a member of the Austin Film Society, I`m under their 501(c)(3) umbrella making all donations tax-deductible -- how much will that really help, though? For 100-200K, we can make a competitive film, but we need closer to the 750K-1M mark to make a heavyweight.I`m offering extra incentives besides the 501(c)(3) -- film/IMDB credit, passes to the screening, production tours, post-screening parties, the ability to be an extra, etc.I just can`t tell if it`s enough. Are there other good places to look for angels (VCs probably aren`t as interested in startup film companies, I`d guess)?
I started a film company, we have two films, both on IMDB, both award winners at festivals (one won best mini-feature this past weekend), however they`re both mini-features/shorts. In order to expand into the realm of feature film (what you usually see in the cinema), we need the money for equipment/payroll/etc. As a member of the Austin Film Society, I`m under their 501(c)(3) umbrella making all donations tax-deductible -- how much will that really help, though? For 100-200K, we can make a competitive film, but we need closer to the 750K-1M mark to make a heavyweight.I`m offering extra incentives besides the 501(c)(3) -- film/IMDB credit, passes to the screening, production tours, post-screening parties, the ability to be an extra, etc.I just can`t tell if it`s enough. Are there other good places to look for angels (VCs probably aren`t as interested in startup film companies, I`d guess)?
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Comments
First of all, you will need to choose whether you want to create a for profit enterprise or be a not for profit.
People and companies support charitable organizations for their own reasons - but those reasons are quite different than the reasons why they invest in a business.
By law, you cannot sell ownership in a not for profit entity.
I`ve not turned in any non for profit paperwork. My company does not have a mission statement that is purely for public good. However, as an individual artist, I am able to fall under the fiscal sponsorship of a 501(c)(3). One of the things I`m trying to discern is whether or not this fiscal sponsorship will provide greater funding than, say, a C-corporation. Because of the nature of the line of work, it seems to fall into a grey-ish area: as an individual artist, I`m under the 501c3 umbrella; as a film company, we are a for profit company.
In the for profit category, you may find it beneficial to separate the capital requirements for the company from those needed for a specific film.
If you want to delve into your specific situation in confidence, send me a PM or contact me directly.