Civic Intelligence

First Look Media Works Inc

990 • Fiscal year 2017 • EIN 80-0951255

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 15, 2018

114 5th Avenue 18th FloorNew York, NY 10011

(917) 304-4210

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

40th percentile

0.17x

Higher debt load relative to assets than 40% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

42nd percentile

0.22x

Higher debt load relative to revenue than 42% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

3rd percentile

-89%

Higher net margin than 3% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

76th percentile

$399,657

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 2.9% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

1st percentile

-34%

Faster asset growth than 1% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

82nd percentile

30%

Faster revenue growth than 82% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Down

$18,599,790

Down $9,780,862 (-34%) from 2016

Net Assets

Down

$15,514,435

Down $12,204,447 (-44%) from 2016

Liabilities

Up

$3,085,355

Up $2,423,585 (+366%) from 2016

Revenue

Up

$13,744,783

Up $3,211,364 (+30%) from 2016

Expenses

Up

$25,949,230

Up $10,149,823 (+64%) from 2016

Net Income

Down

-$12,204,447

Down $6,938,459 (-132%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$40M$30M$20M$10M$0-$10MAssets 2013: $30,122,995Liabilities 2013: $218,720Net Assets 2013: $29,904,2752013Assets 2014: $19,613,485Liabilities 2014: $1,527,797Net Assets 2014: $18,085,6882014Assets 2015: $33,850,246Liabilities 2015: $894,806Net Assets 2015: $32,955,4402015Assets 2016: $28,380,652Liabilities 2016: $661,770Net Assets 2016: $27,718,8822016Assets 2017: $18,599,790Liabilities 2017: $3,085,355Net Assets 2017: $15,514,4352017Assets 2018: $23,079,212Liabilities 2018: $1,725,522Net Assets 2018: $21,353,6902018Assets 2019: $22,941,096Liabilities 2019: $1,426,199Net Assets 2019: $21,514,8972019Assets 2020: $20,672,199Liabilities 2020: $1,762,928Net Assets 2020: $18,909,2712020Assets 2021: $8,923,263Liabilities 2021: $4,558,185Net Assets 2021: $4,365,0782021Assets 2022: $20,286,909Liabilities 2022: $4,779,751Net Assets 2022: $15,507,1582022Assets 2023: $9,754,402Liabilities 2023: $12,126,902Net Assets 2023: -$2,372,5002023Assets 2024: $1,787,735Liabilities 2024: $3,333,778Net Assets 2024: -$1,546,0432024

Highlighted filing

2017

Assets$18,599,790
Liabilities$3,085,355
Net Assets$15,514,435

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MRevenue 2013: $30,767,119Expenses 2013: $862,844Net Income 2013: $29,904,2752013Revenue 2014: $11,505Expenses 2014: $11,830,092Net Income 2014: -$11,818,5872014Revenue 2015: $34,610,688Expenses 2015: $19,740,936Net Income 2015: $14,869,7522015Revenue 2016: $10,533,419Expenses 2016: $15,799,407Net Income 2016: -$5,265,9882016Revenue 2017: $13,744,783Expenses 2017: $25,949,230Net Income 2017: -$12,204,4472017Revenue 2018: $32,671,835Expenses 2018: $26,617,340Net Income 2018: $6,054,4952018Revenue 2019: $28,389,675Expenses 2019: $28,228,468Net Income 2019: $161,2072019Revenue 2020: $26,672,210Expenses 2020: $29,277,834Net Income 2020: -$2,605,6242020Revenue 2021: $13,712,748Expenses 2021: $28,256,941Net Income 2021: -$14,544,1932021Revenue 2022: $36,699,021Expenses 2022: $25,556,941Net Income 2022: $11,142,0802022Revenue 2023: $8,914,688Expenses 2023: $26,959,827Net Income 2023: -$18,045,1392023Revenue 2024: $1,546,937Expenses 2024: $720,550Net Income 2024: $826,3872024

Highlighted filing

2017

Revenue$13,744,783
Expenses$25,949,230
Net Income-$12,204,447
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 15, 2018
Return Version
2017v2.2
Gross Receipts
$26,467,677
Mission and Program Overview

Mission

First Look Institute is a nonprofit organization committed to fearless reporting, bold filmmaking, and defending those who speak truth to power. By empowering journalists to unearth injustices, unbeholden to outside influence, by investing in a generation of trailblazing filmmakers, and by protecting risk-taking reporters and whistleblowers from retribution, First Look Institute vigilantly defends our First Amendment rights so democracy can flourish.

First Look Media Works, Inc, is a digital news media organization on a mission to create a world with greater understanding, engaged citizens, and responsive institutions.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$17,062,113$13,801,016▼ $3,261,097
Investments in Publicly Traded Securities$10,124,851$4,227,503▼ $5,897,348
Land, Buildings, and Equipment, Net$640,328$488,973▼ $151,355
Prepaid Expenses and Deferred Charges$126,609$67,821▼ $58,788
Intangible Assets$59,265$0▼ $59,265
Accounts Receivable$367,486$14,477▼ $353,009
Cash and Non-Interest-Bearing Accounts-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Inventories for Sale or Use-$0-
Total Assets$28,380,652$18,599,790▼ $9,780,862
Other Assets Total-$0-
Liabilities
Accounts Payable and Accrued Expenses$661,770$3,085,355▲ $2,423,585
Total Liabilities$661,770$3,085,355▲ $2,423,585
Net Assets / Fund Balance
Temporarily Rstr Net Assets-$12,722,894-
Unrestricted Net Assets$27,718,882$2,791,541▼ $24,927,341
Total Net Assets Fund Balance$27,718,882$15,514,435▼ $12,204,447
Total Liabilities and Net Assets / Fund Balance$28,380,652$18,599,790▼ $9,780,862

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$325,643$198,954$524,597
Equipment$163,330$187,870$351,200
Leasehold Improvements-$10,580$10,580
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth ReedEditor in ChiefFT$368,249$23,869$399,657
Peter MaassSenior EditorFT$174,054$35,821$223,353
Roger HodgeDeputy EditorFT$178,665$31,338$212,340
Charlotte FrederickManaging EditorFT$177,180$24,519$201,495
Lynn DombekResearch DirectorFT$170,321$42,603$200,180
Ryan TateDeputy EditorFT$157,164$16,209$191,373
Kate MyersExec Dir, Revenue OperationsFT$168,952$11,405$187,101
Philipp HubertCreative DirectorFT$162,489$28,560$181,234
Erinn ClarkLead Security ArchFT$158,916$24,467$175,844
Charlotte CookCreative DirectorFT$151,110$24,240$157,554

Board Members and Trustees

NameTitle
Pierre OmidyarBoard President
Michael BloomPresident
Michael MohrDirector/Treasr
William FitzpatrickSecretary
Kathleen BaumannTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Baker DonelsonLegal Services3414 Peachtree Road NE, Atlanta, GA 30326$607,221
Arnold & Porter Kaye Scholer LLPLegal Services601 Massachusetts Ave NW, Washington, DC 20001$513,655
Enzuli Managment LLCJournalism114 5th Ave 18th Floor, New York, NY 10011$369,847
PBC 1000 Connecticut Ave LLCRent1000 Connecticut Ave, Washington DC, DC 20036$185,471
Bell & BrighamLegal Services457 Greene Street, Augusta, GA 30901$166,825
Revenue and Support

Revenue Composition

Contributions and Grants
$13,524,710
Program Service Revenue
$173,395
Investment Income
$46,678
Other Revenue
$0
All Other Contributions
$13,524,710
Change in Net Assets
$-12,204,447

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded2$12,722,894avg hgh-low NASDAQ
Total Noncash Contributions2$12,722,894-

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,744,783
Revenue Not Reported on Form 990
$107,398
Total Revenue per Audited Statements
$13,852,181
Total Revenue per Form 990
$13,744,783
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,143,611
Salaries, Compensation, and Employee Benefits$9,334,815
Grants and Similar Amounts Paid$1,470,804
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$7,303,455$1,125-$7,304,580
Occupancy$5,804,217$519,413-$6,323,630
Fees for Services Legal$1,993,143$178,937-$2,172,080
Fees for Services Other$1,918,772$53,107-$1,971,879
Grants to Domestic Orgs$1,342,834--$1,342,834
Other Employee Benefits$776,432$5,054-$781,486
Current Officers, Directors, Trustees, and Key Employees$671,832--$671,832
Payroll Taxes$576,917--$576,917
Travel$399,456$49,746-$449,202
Insurance$415,312$1,448-$416,760
Advertising$359,939$29,102-$389,041
All Other Expenses$323,696$57,837-$381,533
Information Technology$309,755$54,073-$363,828
Depreciation Depletion-$151,355-$151,355
Other Expenses$217,621$149,184-$149,184
Foreign Grants$108,455--$108,455
Office Expenses$70,946$1,983-$72,929
Fees for Services Accounting$2,388$60,000-$62,388
Fees for Service Investment Mgmnt Fees-$45,000-$45,000
Grants to Domestic Individuals$19,515--$19,515
Total Functional Expenses$24,591,866$1,357,364$0$25,949,230

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$26,056,628
Expenses per Audited Statements$25,949,230
Total Expenses per Form 990$25,949,230
Expenses Not Reported on Form 990$107,398
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Nation InstituteNew York, NY-Content Grant$549,500
Freedom of the Press FoundSan Francisco, CA-gnrl charitable,educ,and/or scient$350,000
Baker DonelsonAtlanta, GA501(c)(3)Reality Winner case$204,334
Alliance for Global JusticeTucson, AZ501(c)(3)Reality Winner Defense fund$50,000
First Amendment CoalitionSan Rafael, CA501(c)(3)gnrl charitable,educ,and/or scient$35,000
Participant Media LLCBeverly Hills, CA-2017 Spotlight Fellowship$33,000
Syracuse UniversitySyracuse, NY-Toner Program in Political Rprting$26,500
Chico Community PublishingSacramento, CA501(c)(3)Sacramento News & Chico Publishing$25,000
Baker & Hostetller LLPCleveland, OH501(c)(3)Gawker Amicus Brief$20,000
Goldberg & Allen LLPNew York, NY-Higginbotham Appeal$20,000
Andrew Walker TuohyTucson, AZ501(c)(3)Defamation Case -Grant$17,500
Rprts Commtee for Frdm of PrsWashington, DC-Annual benefit dinner$10,000
Comm to Protect JournalistsNew York, NY501(c)(3)gnrl charitable,educ,and/or scient$7,000

International Summary

Employees
2
Spending
$108,455

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Asia--01$83,455
Europe--01$25,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Will Fitzpatrick PCDir/Sec/AttyLegal adviceNo$228,001

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Directors Pierre Omidyar and Michael Mohr are involved in Omidyar Network LLC ("ON LLC"), a philanthropic investment firm committed to helping people realize their potential. ON, LLC, was owned entirely by Mr. Omidyar and his wife, Pamela Omidyar. Mr. Omidyar also founded First Look Productions, Inc. ("FLP"), and First Look Services, Inc. ("FLS"), both of which are Delaware stock corporations, restricted to operating for purposes that are consistent with the educational mission of First Look Media Works, Inc. Mr. Omidyar, through ownership attribution, is the sole shareholder of these two entities. Director William Fitzpatrick serves as secretary of FLP and FLS. Mr. Mohr and Mr. Fitzpatrick each own firms that perform work for Mr. Omidyar and related entities. Aside from employment and contractor agreements related to the employment and contractor services described above, and a facilities lease for its New York City headquarters with FLS, First Look Media Works, Inc. does not have any other leases, contracts, loans, or other agreements with its officers, directors, highest compensated employees, or highest compensated independent contractors.

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

The organization's members are Pierre Omidyar, Will Fitzpatrick, and Michael Mohr.

Form 990, Part VI, Line 11B: Form 990 Review Process

The federal Form 990 is prepared by Comprehensive Financial Management with inputs from First Look Media Works staff. A draft of the Form 990 is distibuted to the First Look Media Works directors for review, questions and comments. The draft Form 990 is then edited based on the inputs, and finalized for signature and filing.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

First Look Media Works, Inc. monitors and enforces its conflict of interest policy by annually gathering from the directors, officers and key employees all conflict of interests and requiring all other employees to proactively disclose any conflict of interest as they arise. The policy outlines a process by which First Look Media Works, Inc. evaluates and protects against undue influence by any person who may have a conflict of interest. The policy also outlines a process to be undertaken if there is a potential violation of the policy. Finally, the Board reviews the policy and its administration on an annual basis.

Form 990, Part VI, Line 15A: Compensation Review & Approval Process - CEO, Top Management

The process First Look Media Works, Inc. conducts to determine compensation includes a committee conducting a compensation analysis followed by a review and approval by board chair and an outside compensation consultant.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Governing documents, policies and financial statements will be made available to the public upon request.

Conflict of Interest Policy (Part VI Q 12A)

The conflict of interest policy is designed to foster public confidence in the integrity of First Look Media Works, Inc. (FLMW), and to protect FLMW's interest when it is contemplating entering a transaction that might benefit the private interest of a director, a corporate officer, the top management or top financial official, a person with substantial influence over FLMW, or other disqualified person.

Whistleblower Policy (Part VI Q 13)

First Look Media Works, Inc. has not adopted a formal whistleblower policy, but the Organization abides by state law with respect to whistleblower protections, and posts confirmation of this in common areas.

Filing and Contact Details

Filer

Filer Name
First Look Media Works Inc
EIN
80-0951255
Phone
9173044210
Address
114 5th Avenue 18th Floor, New York, NY 10011

Signing Officer

Name
Kathleen Baumann
Title
Deputy CFO
Signed
2018-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathleen Baumann
Formed
2013
Legal Domicile
De
Voting Board Members
3
Independent Board Members
0
Employees
73

Preparer

Firm
Comprehensive Financial Mgt
Address
720 University Ave 200, Los Gatos, CA 95032
Preparer
Roger V Hansen
Phone
4083583316
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 3: Ceased Conducting or Significant Changes To Services

Reported.ly is an experimental news service that reports and curates news from social media sources and citizen journalists worldwide. It publishes a daily digest roundup on its website, and also distributes its reports through Twitter and other social media platforms. It is staffed by reporters working in multiple time zones, which permits timely updates and broad focus.

Form 990, Part III, Line 4D: Other Program Services Description

OTHER PROGRAM SERVICES 4: General Support for Freedom of the Press - provides funds to other 501(c)3 organizations working in support of freedom of the press, and the protections of the First Amendment. OTHER PROGRAM SERVICES 5: Field of Vision: Launched in 2015, Field of Vision is a documentary film project helmed by award-winning filmmaker Laura Poitras and others. Field of Vision invests in and produces documentary films by emerging and established filmmakers, and distributes them on its website and through other media.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0The Intercept is an award-winning digital news organization that focuses on educating the public about important issues in national security, technology, business, politics, and criminal justice. The Intercept employs top investigative journalists, editors and other professional staff to produce its content, which includes both short news articles and long-form investigations. The Intercept distributes its stories on its website, through social media, and on other platforms. Its reporting has been cited by major national and international news organizations, and has led to congressional inquiries, among other results.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Board President
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IRS990/MissionDesc0First Look Media Works, Inc, is a digital news media organization on a mission to create a world with greater understanding, engaged citizens, and responsive institutions.
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IRS990/ProgramServiceRevenueGrp/Desc1The Intercept
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IRS990/ProgSrvcAccomActy2Grp/Desc0Field of Vision: Launched in 2015, Field of Vision is a documentary film project helmed by award-winning filmmaker Laura Poitras and others. Field of Vision invests in and produces documentary films by emerging and established filmmakers, and distributes them on its website and through other media.
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IRS990/ProgSrvcAccomActy3Grp/Desc0Research and Security Group: The RSG is a group of award-winning research, security, engineering and editorial experts who make documents available for inquiry and analysis in secure environments. Our mission is to increase public awareness of important issues by working with journalists, filmmakers, scholars and citizens to bring important information to light.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.79$3.33$1.55$1.55$0.72$0.83
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$9.75$12.1$2.37$8.91$27.0$18.0
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$20.3$4.78$15.5$36.7$25.6$11.1
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.92$4.56$4.37$13.7$28.3$14.5
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.7$1.76$18.9$26.7$29.3$2.61
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$22.9$1.43$21.5$28.4$28.2$0.16
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$23.1$1.73$21.4$32.7$26.6$6.05
2017Detailed filing. Detailed filing data is available for this year.$18.6$3.09$15.5$13.7$25.9$12.2
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$28.4$0.66$27.7$10.5$15.8$5.27
2015Summary only. Only limited summary data is available for this year.$33.9$0.89$33.0$34.6$19.7$14.9
2014Detailed filing. Detailed filing data is available for this year.$19.6$1.53$18.1$0.01$11.8$11.8
2013Summary only. Only limited summary data is available for this year.$30.1$0.22$29.9$30.8$0.86$29.9