Wilmington Regional Film Commission Inc

Nonprofit profile at a glance

EIN
311652051
IRS 990 coverage
2014–2024
Forms available
Form 990 2024
Location
Wilmington, NC, USA
Phone
9103433456
Rating
85
Verdict
STRONG
Rating confidence
Moderate

Official website

Reported finances

Revenue
$354,517
Expenses
$336,083
Assets
$482,313
Liabilities
$23,390

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

Leadership & pay

8 people listed

Highest reported compensation

  • JOHN GRIFFIN (SECRETARY/TREASURER): $136,073 total reported compensation

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

Overview

Mission

Improvement of business conditions for the interest of the film and video industry

What it reported doing in 2024

Attract and facilitate various on location film and video productions in wilmington, nc and surrounding areas by various methods such as providing information on production resources available, the varied location sites available, the local crew base available, and local companies tailored to the film industry.

Operating model

Revenue model
Grant-funded. 84% of the money available for current operations came from government grants.
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.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 43
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 84.8%; rating input score 85
  • Program expense ratio: 88.9%; rating input score 89
  • Fundraising efficiency: $18.25 raised per $1 spent on fundraising; rating input score 55; 55th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.2%; rating input score 51; 51st percentile among comparable filings
  • Total-asset coverage ratio: 1.44; rating input score 50; 50th percentile among comparable filings
  • Liabilities to assets ratio: 0.05; rating input score 33; 33rd percentile among comparable filings
  • Officer compensation ratio: 40.5%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 3.9% per year; rating input score 100; 49th percentile among comparable filings
  • Revenue growth: 2.5% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 4.8% per year; rating input score 100; 46th percentile among comparable filings

Details

  • Where the money goes: 84.8% of revenue deployed · 88.9% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $299K in reported program spending
  • Leadership: top reported pay $136K · 8 people listed
  • Consistency: 25 of 25 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 10 filing years from 2014 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Accountability: Governance controls: 3 of 8 not reported.
  • Review — Financial Efficiency: Fundraising efficiency scored 55/100.
  • Review — Sustainability: Operating margin scored 51/100.
  • Review — Sustainability: Total-asset coverage ratio scored 50/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 33/100.