The Motion Picture Association posted a loss of $ 4.2 million in 2020 – deadline
EXCLUSIVE: The Motion Picture Association posted a deficit of $ 4.2 million in 2020, as the trade association adjusted to its traditional list of six members, according to the latest tax return to the Internal Revenue Service.
The loss contrasts with 2019, when the trade association declared a surplus of $ 4.4 million. Netflix was in its first full year as a member, but Fox Corp., which sold its movie studio assets to Disney in 2018, still had an obligation to continue paying dues the following year after donating. notice, according to a spokesperson.
Membership dues for 2020 were $ 51.4 million, up from $ 62 million a year earlier, when there were essentially seven paying members. Members of the MPA are Warner Bros, Walt Disney, Sony Pictures, Netflix, Paramount, and Universal.
As a 501 (c) 6 nonprofit, the MPA and other professional associations are required to file public documents with the IRS every year, listing items such as income, salaries, and contributions. to other organizations and political committees.
The compensation of Charles Rivkin, president and CEO of MPA, was $ 3.2 million, down from $ 3.1 million a year earlier. Compensation includes approximately $ 2 million in salary and $ 1.2 million in bonuses and incentives.
Overall, MPA revenue was $ 62.9 million, up from $ 74.4 million a year earlier. Total spending fell to $ 67 million from $ 70 million a year earlier. Investment income fell to $ 259,764 from $ 620,958 the year before.
AMP previously reported a deficit in 2013, in what was attributed to accounting fluctuations.
The pandemic has forced exhibitors to shut down across the country as studios withdraw their release schedules. Still, MPA’s revenue from royalties collected for its movie rating service remained stable at $ 4.3 million. The MPA’s Classification and Ratings Administration rated 497 films in 2020, up from 488 a year earlier. The number of theatrical releases plunged, but CARA continued to rate films for streaming.
As in past years, the MPA has continued to contribute to both sides. This included $ 25,000 to the Republican State Leadership Committee and $ 10,000 to the Democratic Governors Association. It also included $ 5,000 to Andrew Cuomo’s campaign committee, paid before he faced an investigation into allegations of sexual harassment and ultimately resigned.
The MPA has also awarded grants to a long list of foundations and nonprofits, including $ 1 million to Carnegie Mellon University. The university created the Initiative for Digital Entertainment Analytics, which researches hacking and technology. The United States Chamber of Commerce received $ 50,000, while Americans for Tax Reform, led by Grover Norquist, received $ 75,000 and the American Conservative Union $ 150,000. Some contributions have also been made to progressive and civil rights groups, such as $ 10,000 to Al Sharpton’s National Action Network, $ 25,000 to the National Urban League and $ 20,000 to the LULAC Institute.