Hello-
My name is Stephen Cone (www.conearts.com or www.myspace.com/stephencone) and I'm a Chicago filmmaker/playwright. I've made two short films and am making a very small first feature this August. Curious, though: since my budget (10-20 grand) is likely too low to draw actual investors, what is the best way to go "legit" and attract in-kind donors?
As of just yesterday, I was bound and determined to go ahead and form an LLC but have just heard from someone recommending I forgo the LLC for the time being and go after a not-for-profit fiscal sponsor so that donations can be tax-exempt.
It also seems like I can do both.
I'm quite torn about this and would love some advise!
Best,
Stephen
If you can qualify for as a nonprofit organization then that would be the best way to go. Of course you'll do all the research needed to know if you qualify, right?
Many people are a little confused about what "not-for-profit" means. Legally the term doesn't mean your product (in this case a movie) may not make a profit, it means your company is set up as (in most cases) a charitable organization. By it's very nature the making of a movie isn't "not-for-profit" - the entire point is to earn back the money and a profit even if you don't.
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The aim of an argument or discussion should not be victory, but progress.
Joseph Joubert, essayist (1754-1824)
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The aim of an argument or discussion should not be victory, but progress.
Joseph Joubert, essayist (1754-1824)
