MUMBAI: Haydenfilms announced that the Internal Revenue Service(IRS) has approved its application for tax exempt status under Section 501 (c) (3), which will expand educational, new media, grants, production, distribution and other offerings and qualify the newly established and non-profit Haydenfilms Institute to receive tax deductible bequests, gifts and transfers.
The Haydenfilms Institute, which will have East Coast offices at Reading, Pa., and West Coast offices at Los Angeles, is in start-up mode and seeking financing for its initial programs and services.
Haydenfilms LLC president and founder and Haydenfilms Institute Hayden Craddolph said, the approval is a significant milestone.
“Since we started Haydenfilms in 2001 and later launched our highly successful online film festival that has brought us global recognition, we have been looking for a way to significantly expand our involvement with and support of independent and student filmmakers. We strongly believed that non-profit made the most sense for us for many reasons, particularly for its expanded opportunity to raise capital and apply for grants that we can use to develop and implement educational programming,” he said.
Craddolph noted that while he and his staff did generate sponsorships, mainly for its annual online film festival awards ceremonies in New York and Los Angeles, it was difficult financially to expand into other areas, particularly education offerings.
According to Haydenfilms communications director Alan Shirk who also will direct the Haydenfilms Institute East Coast offices, its goals are basic. “We all know that it is a tough economy, one that has gotten tougher since Haydenfilms was founded. Our mission is to provide strong resources for independent and student filmmakers worldwide through year-round programming.
“Our annual Online Film Festival, special events, road shows, educational activities and other programs help filmmakers through all stages of their careers—from choosing to embark on a career in film in high school to producing independent films as a seasoned veteran.”
Craddolph emphasized that the Haydenfilms Institute will carry out the key activities and alliances established by Haydenfilms LLC.
That includes the highly popular Haydenfilms Online Film Festival held since 2005 and an evolving collaboration with the HollyShorts Film Festival, which has become one of the world’s largest short-film (35 minutes or less) events and is holding its 6th annual festival in August in Los Angeles. Future plans also involve more production and distribution projects.