The Producers Club of Md Inc

What it reported doing in 2024

In 2017, the corporation grew from a five-day film festival into the owner and operator of a threescreen, year-round movie theater complex, the stavros niarchos foundation parkway, leading an effort to transform the role of film and film culture in Maryland. Baltimore's newest cultural hub, the snf parkway theatre provides year-round film, digital video, educational offerings, community initiatives, special events, and live music concerts in station north arts & entertainment district, the geographic center of baltimore city. The organization has also partnered with the johns hopkins university and Maryland institute college of art ("mica") joint graduate film and media studies program to use the space as both a classroom, screening, and education space, offering the community access to an educational component to the organization's film offerings. The world-wide spread of a novel coronavirus ("covid-19") and related variants in 2020 and 2021 dramatically altered the corporation's activities. State of Maryland and baltimore city covid-19 executive orders forced the corporation to close its flagship parkway theatre on march 13, 2020, and the theatre remained closed to the public until august 2021 due to the enduring pandemic. To continue to serve audiences and the community with memorable film and cultural experiences, management quickly pivoted to develop and launch one of the first virtual movie theater and livestream platforms in the united states in april 2020 and transitioned its signature program, the Maryland film festival, online for both 2021 and 2022. The enduring covid-19 pandemic created new challenges for the film festival as it did for countless other arts organizations. The film industry experienced dramatic changes, and filmgoers' habits changed and continue to evolve. The organization was excited about the promise of audiences returning when the parkway theatre reopened in august 2021, but attendance at the annual festival, screenings and events has not returned to pre-pandemic levels. Given these continuing challenges, the Maryland film festival board of directors made the difficult decision to scale back the organization's operations and pause screenings, programs, and events. With public events paused, the Maryland film festival has prioritized and undertaken a re-envisioning process to develop a new business model and plan that will chart the future trajectory of the organization, including the annual film festival, and the operations of the parkway theatre. The 2023 film festival was postponed, and the board has committed to mounting a memorable 25th anniversary festival in the spring of 2024. The corporation's goal is to ensure that the organization remains a vital community asset for many years to come.

Financial Efficiency

• Mission deployment rate: 80.8%; rating input score 81
• Program expense ratio: 79.3%; rating input score 79
• Fundraising efficiency: $29.89 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 24th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Scored; rating input score 0

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 4 of 7 controls in place; rating input score 57
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.2%; rating input score 32; 32nd percentile among comparable filings
• Total-asset coverage ratio: 11.64; rating input score 93; 93rd percentile among comparable filings
• Liabilities to assets ratio: 0.14; rating input score 37; 37th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 9.2% per year; rating input score 100; 60th percentile among comparable filings
• Revenue growth: -0.2% per year; rating input score 0; 14th percentile among comparable filings
• Asset growth: 11.5% per year; rating input score 100; 63rd percentile among comparable filings