The Gotham acts as your project’s exclusive fiscal sponsor for the duration of your project. However, all the rights and creative control to the project remains with you. Donors give directly to The Gotham and indicate which funds go to support your project – you get the funds, and they get a tax write-off.
The below represents a summary. If chosen to participate, refer to the Sponsorship Agreement and underlying documents for all terms and conditions.
Receiving Donations
Donors will make their donations directly to The Gotham. We only accept credit card, check, or certificate of stock donations. No in-kind donations of goods or services, or donations of cash will be accepted by The Gotham. It takes up to 15 business days for check donations to appear in your online balance sheet; credit card donations should appear immediately. The Gotham sends each donor a thank you letter, which acknowledges their tax-deductible donation.
Administrative Fees on Donations
Foundation and government grant applications are made with the support of The Gotham. In return, The Gotham charges a standard administrative fee (on a cumulative – but also diminishing basis):
– 6% of contributions totaling up to $150,000
– 5% of contributions between $150,001 and $400,000
– 4% of contributions between $400,001 and $600,000
– 3% of contributions over $600,001
Example: On a $200,000 donation, The Gotham’s fee is 6% on the first $ 150,000, and 5% on the last $ 50,000 (and so on).
If your contribution is from a government agency, the following schedule applies:
– $500 for NYSCA grants (no sliding scale)
Credit Card Fees: Donations made by credit card incur an additional 3% transaction fee.
Contributions to your account are deposited into The Gotham’s bank account. Fees are deducted at the time of contribution and interest earned will be used toward the further development of The Gotham’s tax-exempt purposes. Expenses incurred on behalf of the project will be billed against the account.
Note: We do not accept ‘in-kind’ donations of goods or services, this program is for donations of money or stocks only.
Disbursement Request
The moment a donation appears in your account, you will be able to request a disbursement. You request funds up to the amount donated (less admin fees), The Gotham wires the money to your bank account, and you distribute to your vendors.
Tax Reporting
You are responsible for maintaining your own financial records and filing taxes as needed. The Gotham will send you a 1099 form each year, as the IRS may consider the funds disbursed to you as taxable income. Consult a tax advisor concerning your participation in the program to determine what tax structure (Individual, LLC, Corporation, etc) is best for you.
Do you have more questions? Please check out our Manual or go to our FAQ.
The The Gotham Film & Media Institute fosters the development, production and promotion of hundreds of feature and documentary films a year. Learn more about us or become a member
