Independent Media Initiative Inc
- Assets
- $316.4k
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 8
- Location
- Austin, TX
- Founding
- Data as of
- 12/2023
- EIN
- 88-4067747
Organization Overview
Independent Media Initiative Inc is located in Austin, TX. According to its NTEE Classification (A30) the organization is classified as: Media & Communications, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Independent Media Initiative Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Media Initiative 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 12/2023, Independent Media Initiative Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 38.7% each year . All expenses for the organization totaled $1.9m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ONLINE CONTENT CREATORS WHO SHARE EDUCATIONAL CONTENT ON SOCIAL MEDIA PLATFORMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGH A COMBINATION OF DIRECT SUPPORT, MENTORED FELLOWSHIPS, AND COMMUNITY-BUILDING PROGRAMS, IMI CREATES AN ECOSYSTEM OF INDEPENDENT MEDIA CREATORS WITH THE VISION AND SKILLS TO PRODUCE HIGH-QUALITY AND ENGAGING EDUCATIONAL AND ARTISTIC CONTENT FOR THE PUBLIC GOOD.
IMI FEST, PRODUCED BY THE INDEPENDENT MEDIA INITIATIVE (IMI), IS A PIONEERING ANNUAL EVENT DEDICATED TO CELEBRATING INDEPENDENT MEDIA CREATORS WHO PRODUCE AND SHARE THEIR WORK ONLINE. THE FESTIVAL, HELD EACH NOVEMBER, BRINGS TOGETHER A DIVERSE GROUP OF INDEPENDENT CREATORS, EDUCATORS, STORYTELLERS, AND INDUSTRY PROFESSIONALS FROM VARIOUS DISCIPLINES, GENRES, AND FORMATS FOR A WEEKEND FOCUSED ON DISCOVERY, INSPIRATION, AND INNOVATION.CONTINUED ON SCHEDULE O IMI FEST OFFERS A RICH ARRAY OF WORKSHOPS, EXHIBITS, PERFORMANCES, PANELS, AND SCREENINGS DESIGNED TO FOSTER COMMUNITY, CONNECTION, AND PROFESSIONAL DEVELOPMENT WITHIN THE INDEPENDENT MEDIA ECOSYSTEM. WITH OVER 100 ATTENDEES, THE 2023 INAUGURAL EVENT SERVED AS A UNIQUE GATHERING FOR INDEPENDENT CREATORS TO ENGAGE IN MEANINGFUL CONVERSATIONS AND COLLABORATIONS. A HIGHLIGHT OF THE FESTIVAL IS THE PRESENTATION OF THE IMI AWARDS, THE FIRST PRESTIGE AWARD CREATED SPECIFICALLY TO HONOR EXCELLENCE IN INDEPENDENT MEDIA. IN 2023, IMI FEST AWARDED $500,000 IN GRANTS TO SIX OUTSTANDING CREATORS, RECOGNIZING THEIR CONTRIBUTIONS TO THE INDUSTRY AND THEIR DEDICATION TO IMPACTFUL STORYTELLING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stuart Sevier Chair, Executive Director | OfficerTrustee | 40 | $90,750 |
Obinna Osuorji As Of 0823 Treasurer, Operations Director | OfficerTrustee | 40 | $40,000 |
Elaine Sevier Secretary | OfficerTrustee | 1 | $0 |
Jacob Bartok Director | Trustee | 1 | $0 |
Corey Harris Director | Trustee | 1 | $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 | $1,307,025 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,307,025 |
| 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 | $1,307,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $255,000 |
| Grants and other assistance to domestic individuals. | $528,478 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $130,750 |
| Compensation of current officers, directors, key employees. | $50,353 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $207,247 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $26,462 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $43,142 |
| Fees for services: Accounting | $10,659 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $106,153 |
| Advertising and promotion | $21,745 |
| Office expenses | $11,395 |
| Information technology | $6,890 |
| Royalties | $0 |
| Occupancy | $85,167 |
| Travel | $29,807 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $282,550 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $649 |
| All other expenses | $0 |
| Total functional expenses | $1,920,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $307,280 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| 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 | $9,078 |
| Total assets | $316,358 |
| Accounts payable and accrued expenses | $277,480 |
| 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 | $277,480 |
| 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 | $38,878 |
| Total liabilities and net assets/fund balances | $316,358 |