Pendulum Project Inc
- Assets
- $545.0k
- Revenue
- $500.0k
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- Data as of
- 12/2022
- EIN
- 87-2440411
Organization Overview
Pendulum Project Inc is located in New York, NY. According to its NTEE Classification (A31) the organization is classified as: Film & Video, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pendulum Project Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Pendulum Project Inc generated $500.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (29.3%) each year. All expenses for the organization totaled $675.4k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PENDULUM PROJECT, INC. IS A NON-PROFIT THAT ENGAGES IN CINEMATIC STORYTELLING AND MENTORING A NEW GENERATION OF CREATORS. BASED IN NEW YORK, NY THE PENDULUM PROJECT USES BOTH DIGITAL RESOURCES AND IN-PERSON EVENTS TO BUILD A COMMUNITY OF CREATIVES ACROSS THE UNITED STATES, A COMMUNITY COMMITTED TO MAKING SOCIETY WORK FOR EVERYONE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
INCUBATING AND LAUNCHING CINEMATIC PROJECTS TO PROMPT CONVERSATIONS AND STORYTELLING FOR CHANGE. IN 2022, THE PENDULUM PROJECT SECURED A PRODUCTION COMPANY TO DEVELOP COMMAND Z, A DIGITAL SERIES EXPLORING SOCIAL AND ECONOMIC QUESTIONS TO ENCOURAGE DIALOGUE BETWEEN AMERICANS OF DIFFERENT GENERATIONS AND BACKGROUNDS.
1. LAUNCHING A PROGRAM TO PROVIDE NEW TALENT WITH THE OPPORTUNITY TO HAVE THEIR WORK VIEWED AND CRITIQUED BY A PANEL OF INDUSTRY EXPERTS.2. HOSTING LOCAL, INTIMATE EVENTS TO BUILD BRIDGES BETWEEN CIVIC ENGAGEMENT ORGANIZATIONS AND NEXT GENERATION ARTIST COMMUNITIES.3. RECRUITING AND DEVELOPING CONTACTS BETWEEN INDUSTRY EXPERTS AND YOUNG CREATORS.
CREATING OPPORTUNITIES TO PLACE NEXT GENERATION ARTISTS IN CINEMATIC PRODUCTIONS.IN 2022, THE PENDULUM PROJECT SPONSORED THE HIRING OF DIVERSE NEXT GENERATION TALENT AND PRODUCTION STAFF FOR THE COMMAND Z PRODUCTION, PROVIDING THEM THE OPPORTUNITY TO PARTICIPATE IN INDUSTRY BEST-PRACTICES AND RECEIVE MENTORSHIP FROM INDUSTRY LEADERS.
DEVELOPING A PUBLIC PLATFORM TO SHARE REGULAR STORYTELLING PROMPTS AND DRIVE CREATIVE COLLABORATION.IN 2022, THE PENDULUM PROJECT BUILT RELATIONSHIPS WITH PROSPECTIVE BRAND PARTNERS TO DEVELOP DIGITAL AND IN-PERSON ENGAGEMENTS PROMPTED BY COMMANDZ. THESE ENGAGEMENTS WILL EXTEND INTO 2023.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steven Soderbergh President | OfficerTrustee | 5 | $0 |
Adam Pogoff Secretary | OfficerTrustee | 5 | $0 |
Kurt Andersen Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $500,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $500,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $500,000 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $61,250 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $584,601 |
| Advertising and promotion | $12,500 |
| Office expenses | $839 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $14,725 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $675,445 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $44,980 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $500,000 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $544,980 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $544,980 |
| Total liabilities and net assets/fund balances | $544,980 |