featured venture: concord free press

Here's another FEATURED VENTURE: the Concord Free Press.  We have to give credit to NPR for tipping us off to these folks on the commute this morning (their story is HERE), but it really is a project that has the potential to change the publishing game, and game changing is what the featured ventures are all about.

The basic concept of the Concord Free Press (visit them HERE) is that the books they publish are free (100% discount!).  They only ask that those who pick up their books from bookstores make a donation to a charity or person in need, record that donation, and pass the book along after the reader has read it.  The publisher's website is basically a long list of donations that readers have made that are associated with each of their four titles currently in print, and the list is impressive.

In a publishing environment where most books do not make money, this novel approach to doing good makes a lot of sense.  Authors want their work to get out there, and making that happen while creating a social return on the investment is a win-win.  It's not quite "Steal This Book," but it is an interesting and compelling model.

featured venture: fractured atlas

We're starting a new, semi-regular offering here: the FEATURED VENTURE.  This gives us an opportunity to highlight client and client-related projects, as well as ventures that we think are having an positive impact on the entertainment industry landscape.

The first Featured Venture is FRACTURED ATLAS.

Fractured Atlas is a 501(c)(3) non-profit operating out of New York City.  They provide services related to project financing and insurance for artists working in all media.  Specifically, they have a fiscal sponsorship program that allows artists to finance their projects by getting tax-deductible donations applied to budgets. 

This is a huge benefit to artists- especially filmmakers.  Our independent film production clients (almost) universally struggle with how to finance their films.  We spend a lot of time warning filmmakers about the perils of violating the securities laws in the course of raising production funds, and unfortunately, compliance can be really, really expensive.  To prepare a private placement memorandum and to issue securities that represent equity investments in a film project- and to do it right- is frequently cost-prohibitive.

It is also risky to ask for donations to fund film projects.  Asking for donations implies tax-deductibility, and the slope gets slippery in a hurry.  It is ok for people to give money to other people (up to the annual IRS limit for gifts), but the law gets involved when there is something promised in return (i.e., state and federal securities laws) or when the person who gives claims a tax deduction for the gift (i.e., state and federal tax laws).  Fractured Atlas' fiscal sponsorship program provides a way to navigate the morass without spending an out-sized chunk of the budget on compliance.

Fractured Atlas recently announced a cooperative arrangement with IndieGoGo that I think people should notice.  Read about it HERE and HERE.  There is a webinar about how the organizations are going to work together next Tuesday--check it out.

Let us know if you have any suggestions for projects that should be considered for the Featured Venture series.