Nonprofit · EIN 88-4067747
INDEPENDENT MEDIA INITIATIVE INC
Tax-exempt · AUSTIN, TX 78751
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,481,756 | $1,321,307 | $160,449 | $323,092 | $123,767 | $199,325 |
| December 31, 2023 | 990 (amended) | $1,307,025 | $1,920,829 | -$613,804 | $316,358 | $277,480 | $38,878 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $1,481,756
- Program service revenue
- $0
- Investment income
- $0
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $413,682
- Compensation of officers, directors and key employees
- $125,000
- Other salaries and wages
- $199,331
- Salaries, compensation and benefits (total)
- $352,269
- Professional fundraising fees
- $0
- Legal fees
- $14,733
- Accounting fees
- $18,345
- Occupancy
- $126,707
- Travel
- $22,229
- Program services (functional)
- $1,093,748
- Management and general (functional)
- $168,496
- Fundraising (functional)
- $59,063
Balance sheet and other
- Total assets, start of year
- $316,358
- Total assets, end of year
- $323,092
- Total liabilities, end of year
- $123,767
- Net assets, end of year
- $199,325
- Gross receipts
- $1,481,756
- Employees
- 8
- Volunteers
- 3
- Year formed
- 2022
- State of legal domicile
- TX
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Stuart Sevier | Chair, Executive Director Trustee or director, Officer | 40 | $121,000 |
| Obinna Osuorji | Treasurer, Operations Director Trustee or director, Officer | 40 | $4,000 |
| Elaine Sevier | Secretary Trustee or director, Officer | 1 | $0 |
| Jacob Bartok | Director Trustee or director | 1 | $0 |
| Corey Harris | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Stuart Sevier | Chair, Executive Director Trustee or director, Officer | 40 | $90,750 |
| Obinna Osuorji as of 0823 | Treasurer, Operations Director Trustee or director, Officer | 40 | $40,000 |
| Elaine Sevier | Secretary Trustee or director, Officer | 1 | $0 |
| Jacob Bartok | Director Trustee or director | 1 | $0 |
| Corey Harris | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 3908 AVENUE B, AUSTIN, TX 78751-4515
- In care of
- % STUART SEVIER
- Principal officer (990 for 2024)
- Stuart Sevier, 3908 Ave B 115, Austin, TX 78751
- Signed the 990
- Stuart Sevier, Executive Director
- Phone
- (512) 270-1582
- Website
- www.theimi.co
- Return prepared by
- RAY CPA PC
Mission
To support online content creators who share educational content on social media platforms.
Program accomplishments
- Through a combination of direct support, mentored fellowships, and community-building programs, IMI creates an ecosystem of independent media creators with the vision and skills to produce high-quality and engaging educational and artistic content for the public good.Expenses $630,848 · grants $151,000 · revenue $196,248
- IMI Fest, produced by the Independent Media Initiative (IMI), is a pioneering annual event dedicated to celebrating independent media creators who produce and share their work online. The festival, held each November, brings together a diverse group of independent creators, educators, storytellers, and industry professionals from various disciplines, genres, and formats for a weekend focused on discovery, inspiration, and innovation. IMI Fest offers a rich array of workshops, exhibits, performances, panels, and screenings designed to foster community, connection, and professional development within the independent media ecosystem. A highlight of the festival is the presentation of the IMI Awards, the first prestige award created specifically to honor excellence in independent media.Expenses $462,900 · grants $262,682 · revenue $30,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 88-4067747
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2023
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Arts, culture and humanities (A30)
- Assets (IRS master file)
- $323,092
- Income (IRS master file)
- $1,481,756
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,481,756 | $1,321,307 | $323,092 | IRS |
| 990 | December 2023 | $1,307,025 | $1,920,829 | $316,358 | XML |
| 990 | December 2022 | $679,616 | $26,934 | $652,682 | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-4067747).
Questions about INDEPENDENT MEDIA INITIATIVE INC
- What is the EIN of INDEPENDENT MEDIA INITIATIVE INC?
- The employer identification number (EIN) of INDEPENDENT MEDIA INITIATIVE INC is 88-4067747.
- Is INDEPENDENT MEDIA INITIATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2023.
- Are donations to INDEPENDENT MEDIA INITIATIVE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does INDEPENDENT MEDIA INITIATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of INDEPENDENT MEDIA INITIATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did INDEPENDENT MEDIA INITIATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of INDEPENDENT MEDIA INITIATIVE INC?
- The 990 for the year ended December 31, 2024 names Stuart Sevier.
- Who are the officers and directors of INDEPENDENT MEDIA INITIATIVE INC?
- The 990 for the year ended December 31, 2024 lists 5 people; 2 received compensation from the organization, the highest $121,000 (Stuart Sevier, Chair, Executive Director).
- How much revenue does INDEPENDENT MEDIA INITIATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,481,756, expenses of $1,321,307 and total assets of $323,092 at year end.
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