Film Forum Inc

Nonprofit profile at a glance

EIN
510175953
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2126272035
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Film, Video

Official website

Reported finances

Revenue
$8,594,955
Expenses
$8,548,467
Assets
$26,898,817
Liabilities
$7,828,419

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

34 people listed

Executive titles in this filing

  • SONYA CHUNG (PRESIDENT)
  • KAREN COOPER (ADVISOR TO PRESIDENT)

Highest reported compensation

  • KAREN COOPER (ADVISOR TO PRESIDENT): $334,367 total reported compensation
  • BRUCE GOLDSTEIN (REPERTORY ARTISTIC DIRECTOR): $229,622 total reported compensation
  • MICHAEL J MAGGIORE (PREMIERES ARTISTIC DIRECTOR): $215,165 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Film forum's mission is two-fold: 1) to serve the general public by presenting the highest caliber of work to the widest possible audience - encouraging the appreciation of new, challenging films (both american and foreign films), and bringing the public a new way of looking at historically important movies through an ambitious, internationally-recognized repertory program.2) to serve independent filmmakers by providing the opportunity to receive critical press coverage in addition to generous remuneration for their creative work. Film forum presents films year-round that educate, surprise, challenge, move and entertain.

What it reported doing in 2024

Film exhibition film forum continues its work of: premiering an international array of new films that treat diverse social, political, historical and cultural realities; and, presenting the best in classic and genre cinema from around the world and taking risks on movies both old and new. Programming is based on a film's inherent artistic quality as opposed to commercial cinemas that make decisions based on the broadest box office appeal.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 79
  • Accountability: 93
  • Sustainability: 45
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 78.2%; rating input score 78
  • Fundraising efficiency: $5.13 raised per $1 spent on fundraising; rating input score 18; 18th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 96.3%; rating input score 96; 26th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0.5%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 3.15; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.29; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 19.2%; rating input score 13; 13th percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 40th percentile among comparable filings
  • Revenue growth: 2.7% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 9% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 78.2% of spending went to programs
  • Governance: 26 of 27 board members independent · 8 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $6.7M in reported program spending
  • Leadership: top reported pay $334K · 34 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 11 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

  • High — Financial Efficiency: Fundraising efficiency scored 18/100.
  • Moderate — Sustainability: Operating margin scored 36/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 13/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.