Film Independent

Nonprofit profile at a glance

EIN
953943485
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Los Angeles, CA, USA
Phone
3235569300
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Film, Video

Official website

Reported finances

Revenue
$19,150,546
Expenses
$18,866,656
Assets
$9,397,936
Liabilities
$3,380,957

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

Leadership & pay

35 people listed

Executive titles in this filing

  • JOSH WELSH (PRESIDENT (UNTIL DEC 24))
  • BRENDA ROBINSON (ACTING PRESIDENT (FEB 25-SEP 25))

Highest reported compensation

  • JOSH WELSH (PRESIDENT (UNTIL DEC 24)): $320,362 total reported compensation
  • KATHRYN WALKER (SENIOR DIRECTOR OF DEVELOPMENT): $196,014 total reported compensation
  • VALECIA PHILLIPS (DIRECTOR OF FINANCE/OPER.): $187,971 total reported compensation

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

Overview

Mission

To champion creative independence in visual storytelling in all its forms and to foster a culture of inclusion. We support a global community of artists and audiences who embody diversity, innovation, curiosity and uniqueness of vision.

What it reported doing in 2024

Artist developmentfilm independent's artist development programs are incubators for the next generation of bold, original visual storytellers working in film and television, fiction and non-fiction. Among the programs we offer:-project involve is a hands-on program that has supported over 1,000 filmmakers over the past 30 years, through mentorship, masterclasses and short film production. At least 31 filmmakers participated in the program in fy25.-the filmmaker labs producing, screenwriting, episodic, documentary provide mentorship and training on the business of filmmaking, as well as robust feedback on filmmakers' current projects.-fast track is a highly curated film finance market, designed to help producer-director teams advance their projects. Film independent facilitates up to 60 meetings for fellows with top executives, financiers, packaging agents, distributors, production companies and others. -fiscal sponsorship allows participants to utilize the non-profit status of film independent to access grants from foundations, individual donations and government funding. It supports fully independent productions that reflect film independent's mission to foster unique perspectives and a diversity of content and creators. As part of the application process, every applicant must demonstrate how their project aligns with the mission, which is considered in evaluating eligibility for the program. At the end of fy25, fiscal sponsorship had approximately 595 active projects, with 231 of those joining the program between october 1, 2024 and september 30, 2025.

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 96% 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 most voting board members are independent. The filing reports few safeguards for money sent abroad and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 63
  • Accountability: 100
  • Sustainability: 32
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.1%; rating input score 85
  • Program expense ratio: 86.3%; rating input score 86
  • Fundraising efficiency: $9.34 raised per $1 spent on fundraising; rating input score 36; 36th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 87.5%; rating input score 88; 2nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 1 of 8 controls in place; rating input score 12
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Fail
    • May require repayment: Fail
  • Grant itemization coverage: 69.9%; rating input score 70; 14th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 1.5%; rating input score 40; 40th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.36; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 7.1%; rating input score 35; 35th percentile among comparable filings

Growth

  • Program expense growth: 8.7% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 7.3% per year; rating input score 100; 61st percentile among comparable filings
  • Asset growth: 9.4% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 85.1% of revenue deployed · 86.3% of spending went to programs
  • Governance: 28 of 28 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $16.3M in reported program spending
  • Leadership: top reported pay $320K · 35 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.8M reported
  • Consistency: 35 of 38 current checks pass · 3 findings to review
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 9 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Transparency & Controls: Foreign activity oversight: 7 of 8 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • Moderate — Sustainability: Operating margin scored 40/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • Moderate — Sustainability: Officer compensation ratio scored 35/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Foreign grant itemization did not reconcile in the filed values.