The members of the Myth Machine understand that some of our accredited investors might not prefer high-risk investments but are passionate about storytelling and filmmaking. As an alternative, the Myth Machine has forged a relationship with the Film Video Arts Incorporated of Manhattan.
Film/Video Arts supports independent filmmakers by providing access to filmmaking training, production equipment & services, and more importantly through fiscal sponsorship. The fiscal sponsorship program allows our accredited investors to receive tax deductions for their financial support. Film/Video Arts is a 501( c )3 non-profit organization at the federal and state level. All funds donated to support Myth Machine will be considered “charitable contribution” and are tax deductible to the fullest extent of the law. Film/Video Arts uses all funds donated to support Myth Machine and its projects. As a donor, you will receive an official letter from Film/Video Arts confirming your “charitable contribution.”
Please make checks payable to:
Film/Video Arts
Memo: Myth Machine
Send all correspondence to:
Film/Video Arts
Attn: Andre Gray
Director of Fiscal Sponsorship and Filmmaker Programs
270 W. 96th Street
New York, New York 10025
Phone: 212-222-1770
About Film / Video Arts
 Founded in 1968, Film/Video Arts’ mission is to make the tools and skills of the media arts available to those who might not otherwise have access to them. Film/Video Arts has become one of the largest nonprofit media arts center in the New York region during its over 35 year history of excellence.
Film/Video Arts provides a dynamic environment where emerging and established film, video and digital media producers, editors, directors and hobbyists of diverse backgrounds can take courses taught by seasoned film industry veterans. Film/Video Arts members are eligible to receive fiscal sponsorship for their projects and have access to the tools needed to edit their projects affordably. Over 2,500 individuals and organizations participate in Film/Video Arts programs every year.
History
Film/Video Arts has come a long way since its founding in 1968 when educators Rodger Larson and Lynne Hofer in collaboration with filmmaker Jaime Barrios introduced 16mm motion picture equipment to Latino youth on the Lower East Side. Operating out of a storefront just off the Bowery, the teenagers were soon making highly personal films, mostly concerned with growing up in the neighborhood.
In 1968, the organization was officially incorporated as the Young Filmmakers Foundation, to encourage filmmaking as an artistic, educational and vocational experience for young people. A major grant in 1970 made it possible for Young Filmmakers to stabilize and expand its programs citywide.
In 1971, in collaboration with the New York State Council on the Arts, Young Filmmakers established the first public media equipment access center in a basement on West 53rd Street. Known as Media Equipment Resource Center (MERC), this program served film and video makers of all ages with production and postproduction services free of charge. In 1973, the activities of the organization were consolidated in a loft building at 4 Rivington Street. By 1978, Young Filmakers had introduced modest fees and redirected its focus to adults.
In 1985, Young Filmmakers changed its name to Film/Video Arts and relocated to 817 Broadway. The new location and major equipment upgrades enabled the organization to evolve from a set of experimental programs to an established service institution.
In 1997, Film/Video Arts built the Digital Studio and initiated the Digital Arts Certificate Program. Consequently, a new generation of digital media producers was emerging from Film/Video Arts with the benefit of having equal access to necessary resources.
In 2001, Film/Video Arts relocated to its present address at 462 Broadway (corner of Grand Street). The future of the Film/Video Arts at its new location holds forth many possibilities as the organization continues to grow with the emergence of newer technologies.
Drawing from its rich history Film/Video Arts has steadily evolved, all the time maintaining its staunch commitment to supporting the needs of independent film, video and digital media producers. The founder’s mission, to make the tools and skills of the media arts available to those who might otherwise not have access to them, remains the guiding force behind all Film/Video Arts’ activities and programs.
Frequently asked questions regarding fiscal sponsorship
What is fiscal sponsorship and why is it needed?
The filmmaker benefits from a fiscal sponsorship relationship, through an affiliation with a tax-exempt 501(c)(3) organization, mainly by allowing access to funding opportunities and other resources available only to 501(c)(3) non-profit organizations.
With F/VA as your Fiscal Sponsor, your contributors have the opportunity to receive tax benefits on their contributions. In addition, you will be able to apply for grants that are available only to those who have non-profit status.
What does 501(c)(3) mean?
501(c)(3) is the tax determination given to a non-profit charitable organization at the federal level.
Does F/VA's Fiscal Sponsorship program provide direct funding?
No. The Fiscal Sponsorship program is not a grant-making program. However, having a fiscal sponsor allows an individual to apply to many foundations who do not accept applications from individuals.
Why does the Fiscal Sponsorship program have an application process?
Sponsored project activities must be conducted according to IRS regulations. For Fiscal Sponsorship to comply with these regulations F/VA must establish direction and control over the project. The program is regulated and secure through this application process and internal procedures regarding grants and contributions to sponsored projects. In addition, our Letter of Agreement—which each accepted project must sign to commence sponsorship—governs the relationship between F/VA and the sponsored project in order to meet the needs of all the parties involved.
Does F/VA retain any artistic control or rights by being my Fiscal Sponsor?
No. You will retain complete creative control and ownership of your project. The project is also responsible for tax reporting and liability issues.
Once you have been accepted as a Fiscal Sponsee with F/VA, we will act as your liaison when accepting grants, contributions, and other income on behalf of your project. F/VA will serve as agent for all tax-exempt contributions.
Why does F/VA need to keep track of how we spend our money?
F/VA is legally responsible for the funds received on behalf of the sponsored project and must insure that the project uses the funds accordingly.
How should I acknowledge F/VA as my Fiscal Sponsor?
You must acknowledge in all credits, website, press releases and announcements that your project was fiscally sponsored by F/VA. All funds you acquire must be used solely for artistic, educational, or charitable purposes, set forth in the proposal in regards to your project.
In addition to fiscal sponsorship, what other services does F/VA’s Fiscal Sponsorship program provide to projects?
F/VA’s Fiscal Sponsorship program provides technical assistance and financial services to sponsored projects. Technical assistance takes the form of consultations via phone, fax, email and in-person on a range of subjects, including, but not limited to: general grant information, fellowship opportunities, e-blasts and tailored fiscal sponsorship programming.
What's your fee?
In return for our services, F/VA will retain 6% of all project income (as an administrative fee).
What makes a donation tax exempt?
If a person/company makes a donation to your film and they have no intention of ever seeing a return on that money, it is simply a gift. This type of donation is eligible for a tax deduction.
If a person/company gives money with the smallest hope of seeing a return on that money, it is an investment and therefore, is not eligible to receive a tax deduction. Remember: It is illegal to portray the contribution as a gift, if it is meant for-profit. In other words, the person/company cannot change his mind mid-way through. It is either a donation or investment from the start.
What if I have a donor that wants to give a stock donation?
F/VA can receive stock donation on your behalf through our brokerage company. Your donors contact Film/Video Arts when a stock donation has been made. This will ensure that your account is credited properly and will help avoid any delays in processing.
What is the In Kind Contribution Form?
This form is to be filled out completely by both the filmmaker and donor representing the goods or services that have been donated to the film project. The value of the donation is based on the fair market value. If you are unsure of the fair market value of the donation look to: IRS PUBLICATION 561. If you want to know what types of donations can be deducted and how to claim a deduction look to IRS PUBLICATION 526. You can find both of these documents on the IRS website.
Does F/VA fiscally sponsor any festivals or organizations?
Yes. F/VA does fiscally sponsor a number of larger entities. ImageNation Film Festival, Rural Route Film Festival and Harlem Film Festival are a few examples of festivals we sponsor.
Do I need to keep F/VA informed about changes to my project?
The director and producer must contact and report to F/VA with quarterly project updates as well as when the project is completed and ready for exhibition.
If you have any further questions regarding F/VA's Fiscal Sponsorship Program, please contact Andre Grayi, the Director of Fiscal Sponsorship and Filmmaker Programs, at andregay@fva.com. |
