Overview
What is Film Prize Foundation Inc?
Film Prize Foundation Inc, operating under the name Louisiana Film Prize Foundation, is a nonprofit organization based in Shreveport, Louisiana. Their primary mission is to stimulate local short film productions by organizing an annual contest inviting individuals nationwide to create films centered around the Shreveport/Bossier City area. Winners are awarded grants and prizes. Additionally, the foundation supports various local initiatives through additional contests and festivals, such as the Louisiana Startup Prize, Louisiana Music Prize, and Louisiana Food Prize. With a team of seven dedicated individuals, Film Prize Foundation Inc is committed to promoting the creative arts and fostering a vibrant cultural scene in their community.
Official website here: www.lafilmprize.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 58%, One-Star out of Four Stars
The Film Prize Foundation Inc has received a One-Star rating from Charity Navigator, indicating significant concerns with its accountability and financial practices. While the organization boasts a fully independent board and a favorable program expense ratio of 87.87%, it struggles with several critical governance policies, notably the absence of both a whistleblower policy and a document retention and destruction policy, which are essential for transparency and accountability.
The foundation has shown strength in managing its board composition and ensuring no material diversion of assets, reflecting a commitment to maintaining ethical standards in these areas. However, the high liabilities to assets ratio of 273.69% raises questions about its financial stability and long-term sustainability. This imbalance signals potential risks that could affect the organization's ability to fulfill its mission effectively.
Overall, while the Film Prize Foundation Inc demonstrates positive aspects in its governance structure, the significant gaps in financial oversight and transparency are concerning. Prospective donors and supporters may want to consider these factors carefully when evaluating their support for the organization.
This AI summary has been generated from information found on Charity Navigator.
Is Film Prize Foundation Inc legitimate?
Film Prize Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Film Prize Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $67,332
Professional Fundraising Fees: $0
Other Salaries and Wages: $280,250
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Official website here: www.lafilmprize.com
What is the mission statement of Film Prize Foundation Inc?
The Film Prize Foundation Inc's mission is centered around promoting short film productions. They accomplish this by hosting an annual contest inviting individuals nationwide to create short films centered around the Shreveport/Bossier City area. Winners of this contest are rewarded with grants and prizes. Beyond this primary activity, the foundation also supports local initiatives through additional contests and festivals, such as the Louisiana Startup Prize, Louisiana Music Prize, and Louisiana Food Prize. These events aim to foster a vibrant and creative local community.
Official website here: www.lafilmprize.com
What is the revenue of Film Prize Foundation Inc?
Film Prize Foundation Inc's revenue in 2023 was $1,497,474.
Official website here: www.lafilmprize.com
Who are the executives of Film Prize Foundation Inc and what are their salaries?
The average compensation at Film Prize Foundation Inc during 2023 was $31,598. There are 11 employees and 200 volunteers at Film Prize Foundation Inc.
Here are 7 key members and their salaries:
- Compensation: $9,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $58,332
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.lafilmprize.com
Where can I find the form 990 for Film Prize Foundation Inc?
Film Prize Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.lafilmprize.com
Learn more at the official website: www.lafilmprize.com
Mission Statement of Film Prize Foundation Inc
The Film Prize Foundation Inc, a notable organization, is dedicated to promoting short film productions within a specific locale. This is achieved through an annual contest, inviting individuals nationwide to produce short films centered around Shreveport/Bossier City. The foundation offers generous grants and prizes to the winning entries. Beyond this annual event, the Film Prize Foundation Inc also supports local activities by organizing additional contests and festivals, such as the Louisiana Startup Prize, Louisiana Music Prize, and the Louisiana Food Prize. These events aim to foster creativity and talent in various fields, furthering the organization's goal of promoting artistic expression within the community.
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Impact
October, 2024
Film Prize Foundation Inc significantly enhances the local cultural landscape by promoting short film productions in the Shreveport/Bossier City area through its annual contest. This initiative encourages filmmakers from across the country to create works centered on the region, fostering a sense of community and local storytelling. By providing grants and prizes to winners, the foundation not only incentivizes creativity but also directly supports the arts and cultural economy.
Furthermore, the foundation contributes to the local scene by organizing additional contests and festivals, such as the Louisiana Startup Prize, Louisiana Music Prize, and Louisiana Food Prize. These events cultivate creativity and entrepreneurship, celebrating diverse forms of artistic expression and helping to build a vibrant cultural community. Overall, Film Prize Foundation Inc plays a vital role in stimulating artistic engagement and economic development in the local area.
This information is meant to be a general summary of Film Prize Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $640
- Program Service Revenue: $250,650
- Gross Receipts: $1,497,474
Assets and Liabilities:
- Total Assets: $170,494
- Total Liabilities: $466,629
- Net Assets: -$296,135
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
TICKET SALES
Revenue
$250,650
Organization Details
Founding Year
2012
Principal Officer
Gregory Kallenberg
Website
www.lafilmprize.comNTEE Category
Code: A31 - Arts
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