I'm an established doc editor venturing out for the first time as a producer of his own doc. I got a couple small grants which got me started, and now have a bunch of footage shot, a trailer, treatment, and prospectus materials. I have non-profit status with IDA and intend to raise some funds that way, but want to solicit larger chunks of change from investors. I'm looking for resources (example documents, books, advice) about how to set up a situation where I can engage investors in my film (total budget = approx. $160K.) Must I set up an LLC? Is there a quick-and-easy way of doing this? What do the contracts look like when people invest? Any pointers or advice is much appreciated.
Jacob, now that we just gave you Professional status due to your impressive experience in documentary editing, let me suggest that you just start searching and reading our whole category of Business Topics. I'm sure you'll find many answers and ideas there.
While you're at it, you should really Introduce Yourself and tell this community a bit more about your background. Thanks!
I've been searching as you suggest and have found lots of useful tidbits. Will do an introduction, too. Thanks, Ben!
I'm starting a documentary project that will be shot in HD, and someone at the Apple Store recommended that I talk to Maxx Digital (http://www.maxxdigital.com/) about getting consultation for a RAID setup for a MacPro that I'm thinking of getting. Has anyone dealt with Maxx Digital before? How's their consultation and, more importantly, their products?
I don't know if this is the section to be doing this in, but here it goes.
I have some experience, but not much, so I was wondering if any filmmaker would like some free help on a project this summer? I am a fast learner, but I want to be a documentary filmmaker and the cinema department at my school isn't giving me very much practical experience.
Please respond if you're interested. I have a passport and am willing to travel. I'm friendly and easy to work with, I promise.
In reply to Erica Ginsberg's post on Sun 13 Mar 2011 :
Thanks so much for your input. I apologize for my slow acknowledgement of the reply. I was away for a few days. I've decided to put my lot in with Stanford because of its more intimate atmosphere as well as the long-standing reputation and pedigree. The decision wasn't made lightly though. Stanford, AU, and NYU (which I just received acceptance to) all have really amazing aspects that I wish I could benefit from. If only I could afford to go to all three... :)
Well it says something about you that you were accepted into all three. I know a lot of really amazing documentarians have come through the Stanford program so certainly a good choice.
Independent Film Week
Seeking Scripts and Documentary works-in-progress – Emerging Narrative and No Borders now open for submissions! Spotlight on Docs opens April 15!
My husband is a DP/Director and was contacted about 2 years ago by a client wanting him to shoot an interview and broll for one woman's story of abuse, survival and healing through an alternative method called Transformational Bodywork. There was an urgency to do the shooting asap as she was also diagnosed with 4th stage Ovarian Cancer and her prognosis was not good. The purpose was to have her story documented so that sometime in the future it might be used for a documentary about the kind of work this therapist is doing.Â
Some time later, my husband was contacted again by same client to come out and film some more footage with the same subject as she had now finished with chemo and was in remission. She had made great strides in her work with our client/her therapist and was celebrating her life. This time, I went with him and shot several days with her. During the shoot, it became clear that my husband and I had gained a remarkable perspective on how best to pursue this documentary. Since the client hadn't even yet lined up a director, we pitched to him that we could helm the project, and he wholly agreed. We then did one more round of shooting this past March.
Through each stage, the client had paid my husband his standard dayrate, so everything was essentially a work-for-hire gig. But as some other parties have now come forward with additional financing and the documentary as a whole is picking up steam, we're now floundering with the business end of all of this, playing catch-up to this bass-ackwards way of producing a documentary.
Which brings me to this... We need help! We have a producer we'd like to bring on board to handle all the administrative details moving forward, but we're so ignorant about what all those details are exactly. In doing research, I've read things about fiscal sponsorship, advisory boards, non-profit, etc. As of right now, we are slated to do our final round of principal photography this May in NY and CA and still have no protection in case things go horribly awry. Husband is currently talking with a lawyer about forming an LLC and drafting an operating agreement for the three parties involved: my husband and I, and the client-turned-partner. But we're unclear how to handle things such as:
- Who should own the Copyright?
- What is an appropriate split for profit/loss between us and client-turned-partner?
- How to accept outside monies which are still unclear yet as to whether or not they'll be Donations vs. Investments?
- If the incoming monies are Investments, what's an appropriate way to handle profit splits between we the filmmakers, and them?
- Do we need an advisory board? Does it help? Offer more credibility?
I apologize for the novella, if you've made it this far... any insight into these questions would be immensely appreciated, or if there's something else I might be altogether overlooking. Thanks so much for any and all help!
Kristen, smart questions. I just emailed you to suggest a consultant (and it's not me, even though I consult quite often). It seems like you need a good one badly and I recommended a great one.