FOUNDATION FOR INDEPENDENT MEDIA ARTS

EIN: 810740458 501(c)(3) Arts, Culture & Humanities

HOUSTON, TX

Total Revenue
$32,431
Total Expenses
$49,340
Total Assets
$164,857
Net Assets
$163,943
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Principal Officer
RICHARD D WALKER
Phone
7135404477
Tax Period
2023-01-01 to 2023-12-31

FOUNDATION FOR INDEPENDENT MEDIA ARTS, founded in 2017, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $32K in total revenue in fiscal year 2023. Revenue fell 35% from the prior year — a significant decline worth monitoring. Expenses of $49K exceeded revenue, resulting in a 52% operating deficit.

Mission

THE MISSION IS RATIFIED BY THE ORGANIZAION TO WORK ON ITS PRIMARY EXCEMPT PURPOSES.

Program Service Accomplishments

Program 1
Expenses: $5,985

PROVIDE FINANCIAL AND IN-KIND SUPPORT , SPONSORSHIP AND HEIGHTENED PUBLIC ACCESSIBILITY FOR A VARIETY OF MEDIA ARTS ENDEAVORS, INCLUDING BUT NOT LIMITED TO PUBLIC MEDIA

Program 2
Expenses: $29,436

PROVIDE CONTRIBUTIONS TO MUSEUMS RELATED TO PUBLICE SCREENING OF INDEPENDENT FILMS INCLUDING ONE ORIGINAL NARRATIVE FILM AND ONE HISTORICAL DOCUMENTARIES. ALSO, TO PROVIDED SCHOLARSHIPS FOR...

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PROVIDE CONTRIBUTIONS TO MUSEUMS RELATED TO PUBLICE SCREENING OF INDEPENDENT FILMS INCLUDING ONE ORIGINAL NARRATIVE FILM AND ONE HISTORICAL DOCUMENTARIES. ALSO, TO PROVIDED SCHOLARSHIPS FOR EDUCATIONAL PROGRAMING.

Program 3
Expenses: $5,439

PROVIDE SCHOLARSHIPS TO WOMEN IN FILM & TELEVISION PROGRAMING. ALSO FINANCIAL SUPPORT FOR CINEMA AND MOTION PICTURE ARTISTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $44,044
Program Service Revenue $0
Investment Income $0
Other Revenue $-11,613
TOTAL REVENUE $32,431

Expense Breakdown

Grants Paid $30,095
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $40,860
Other Expenses $19,245
TOTAL EXPENSES $49,340

Year-over-Year Comparison

2023 2022 Change
Revenue $32,431 $49,777 -0.3%
Expenses $49,340 $41,943 +0.2%
Net Income $-16,909 $7,834 -3.2%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

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Liquidity & Cash Position

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
N/A

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$0
Total Directors
1
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RICHARD D WALKER PRESIDENT N/A
Officer Director
$0 $0 $0
MAUREEN HERZOG VICE PRESIDE N/A
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $32,431 $49,340 $164,857 $-16,909
2022 $49,777 $41,943 $184,207 $7,834
2021 $116,672 $45,985 $173,304 $70,687
2020 $94,401 $24,547 $102,617 $69,854
2019 $34,800 $24,607 $32,763 $10,193
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