Credo 23 Foundation

Nonprofit profile at a glance

EIN
993917832
IRS 990-EZ coverage
2024–2025
Forms available
Form 990-EZ 2025
Location
Studio City, CA, USA
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$34,296
Expenses
$46,133
Assets
$48,386
Liabilities
$0

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Justine Bateman (CEO)

People named in this filing

  • Justine Bateman (CEO)
  • Andrew Schnee (CFO)
  • Reed Morano (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990-EZ. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Credo 23 promotes ind filmaking w/out AI

What it reported doing in 2025

The credo23 film festival is a filmmaker-first, no-ai event. We focus on innovative filmmaking and helping future filmmaking efforts. All festival proceeds, after operating costs.

Operating model

Revenue model
Other-operating. 87% of the money available for current operations came from other operating revenue.
Distribution model
Grant intermediary. The nonprofit sent 78% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. A relatively small share of total spending goes to programs and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 82
  • Sustainability: 36
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.3%; rating input score 69
  • Program expense ratio: 51.4%; rating input score 51

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 51st percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: -34.5%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 1.05; rating input score 49; 49th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 200% per year; rating input score 100; 100th percentile among comparable filings
  • Revenue growth: -89.9% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -21.8% per year; rating input score 0; 10th percentile among comparable filings

Details

  • Where the money goes: 69.3% of revenue deployed · 51.4% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $24K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 8 of 8 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2024 to 2025
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 51/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 16/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 49/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.