FILM FINANCIAL OFFICER
Charles Rankin, CFO
As CFO for Meet My Neighbor Productions, Inc. Charles Rankin is Responsible for communications, reporting, budgeting, disbursement approval, and fundraising for film projects.
NATIVE Pilot Trailer Expenses 01/15/2022
QUESTIONS REGARDING THE HANDLING AND REPORTING OF FUNDS:
Are Funds Donated Tax Deductible?
Meet My Neighbor Productions, Inc. is a 501(c)3 Nonprofit Organization. Funding is tax deductible under IRC Section 170. Please See MMNP IRS Letter 947 for more information.
Where are funds for the film held and how are they dispursed?
For Feature Films or other grant funded projects, Meet My Neighbor Productions (MMNP) keeps all funds in an escrow account. Funds are transferred to the MMNP Operating Account at the time of expense. At any time, if funds were used from the MMNP Operating Account to cover the costs of production during times in which escrow funds were unavailable, the MMNP Operating Account will be immediately reimbursed once funding is available from the MMNP Escrow Account .
Will funding parties receive financial reports?
Every 3 months from the start of the project, Meet My Neighbor Productions (MMNP) will distribute to all Funding Partners a financial ledger of balances held in escrow, expenses, future estimates, and any required funding necessary to complete the film.
What happens to overages after the documentary film is complete?
All remaining funds left in escrow will be transferred to the Meet My Neighbor Productions Operating Account to assist with future projects of the nonprofit. Please review the Provisions For Nonprofit Declaration on the Meet My Neighbor Productions website.