Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $107,907

• 1f · All other contributions, gifts and grants

  $2,864,600

• 2a · Program service revenue: TICKET SALES - CINEMA

  total $1,060,290 · related or exempt $1,060,290

• 2b · Program service revenue: MEMBERSHIP FEES

  total $399,276 · related or exempt $399,276

• 2c · Program service revenue: SPONSORSHIP REVENUE

  total $249,150 · related or exempt $249,150

• 2d · Program service revenue: TICKET SALES - FESTIVA

  total $203,485 · related or exempt $203,485

• 2e · Program service revenue: SERVICE FEE - CINEMA

  total $13,655 · related or exempt $13,655

• 3 · Investment income

  total $1,982 · excluded $1,982

• 6a · Gross rents

  real property $8,100

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $8,100

• 6d · Net rental income or loss

  total $8,100 · related or exempt $8,100

• 10a · Gross sales of inventory

  $679,794

• 10b · Cost of goods sold

  $208,803

• 10c · Net income from sales of inventory

  total $470,991 · related or exempt $470,991

• 11a · Other revenue: OTHER INCOME

  total $3,370 · related or exempt $3,370

• 11b · Other revenue: ADMINISTRATIVE FEE

  total $1,062 · related or exempt $1,062

• 11e · Other revenue, total

  $4,432

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $42,169 · program services $42,169

• 5 · Compensation of officers, directors and key employees

  total $106,390 · management and general $83,541 · fundraising $22,849

• 7 · Other salaries and wages

  total $2,085,488 · program services $1,307,287 · management and general $532,285 · fundraising $245,916

• 8 · Pension plan contributions

  total $17,988 · management and general $17,988

• 9 · Other employee benefits

  total $198,716 · program services $86,660 · management and general $94,240 · fundraising $17,816

• 10 · Payroll taxes

  total $196,404 · program services $124,624 · management and general $46,158 · fundraising $25,622

• 11c · Fees: accounting

  total $21,099 · management and general $21,099

• 11g · Fees: other

  total $264,674 · program services $89,693 · management and general $146,702 · fundraising $28,279

• 12 · Advertising and promotion

  total $125,455 · program services $115,443 · fundraising $10,012

• 13 · Office expenses

  total $195,027 · program services $156,930 · management and general $19,031 · fundraising $19,066

• 14 · Information technology

  total $51,679 · program services $21,503 · management and general $13,946 · fundraising $16,230

• 16 · Occupancy

  total $879,246 · program services $692,930 · management and general $186,316

• 17 · Travel

  total $112,788 · program services $112,117 · management and general $272 · fundraising $399

• 19 · Conferences, conventions and meetings

  total $206 · management and general $206

• 20 · Interest

  total $22,302 · program services $5,774 · management and general $16,528

• 22 · Depreciation, depletion and amortization

  total $557,571 · program services $517,162 · management and general $40,409

• 23 · Insurance

  total $89,699 · management and general $89,699

• 24a · Other expenses: FILM PROGRAMMING

  total $622,031 · program services $622,031

• 24b · Other expenses: CATERING

  total $64,842 · program services $43,236 · fundraising $21,606

• 24c · Other expenses: AUDIO AND VISUAL

  total $43,762 · program services $43,762

• 24d · Other expenses: AWARDS

  total $37,620 · program services $37,620

• 24e · All other expenses

  total $16,399 · program services $2,865 · management and general $13,429 · fundraising $105

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $530,740 · end of year $520,136

• 2 · Savings and temporary cash investments

  end of year $70,209

• 3 · Pledges and grants receivable

  beginning of year $1,779,240 · end of year $1,762,836

• 4 · Accounts receivable

  beginning of year $52,479 · end of year $25,493

• 8 · Inventories for sale or use

  beginning of year $57,995 · end of year $55,298

• 9 · Prepaid expenses and deferred charges

  beginning of year $16,611 · end of year $23,715

• 10a · Land, buildings and equipment: cost or other basis

  $7,254,290

• 10b · Land, buildings and equipment: accumulated depreciation

  $2,880,262

• 10c · Land, buildings and equipment, net

  beginning of year $4,771,314 · end of year $4,374,028

• 15 · Other assets

  beginning of year $13,201,964 · end of year $12,939,532

• 17 · Accounts payable and accrued expenses

  beginning of year $572,709 · end of year $352,969

• 19 · Deferred revenue

  beginning of year $260,288 · end of year $276,263

• 23 · Secured mortgages and notes payable

  end of year $100,000

• 25 · Other liabilities

  beginning of year $13,443,162 · end of year $13,325,518

• 27 · Net assets without donor restrictions

  beginning of year $4,369,686 · end of year $3,856,786

• 28 · Net assets with donor restrictions

  beginning of year $1,764,498 · end of year $1,859,711

The filer's explanations (Part III)

PART I, LINE 4A

FORMER CHIEF EXECUTIVE OFFICER RECEIVED A SEVERANCE PACKAGE OF $120,235.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• IFM FARWELL LLC

  OPERATE ONE OR MORE CINEMAS IN THE MILWAUKEE AREA · WI

  Directly controlled by MILWAUKEE FILM INC