AFI stems the red ink as it rebuilds
The Australian Film Institute (AFI) has stemmed its losses as it strives to rebuild sponsorship and to maintain its year-round program of events.
The organiser of the AACTA Awards incurred a net loss of $10,874 in the fiscal year to June 30 2014, according to the financial report. That was an improvement on the prior year’s loss of $63,557.
In round figures the organisation raked in $140,000 in membership fees and $269,000 in ticket sales and film entry fees.
Revenues dropped marginally from $3.4 million to $3.35 million, including $2 million in government grants, $227,000 in cash sponsorship and $684,000 in in-kind sponsorship.
Production costs, primarily for the AACTA Awards, totalled $2.06 million, down from $2.2 million the previous year.
"The $10k loss is a steady result in what was a tough revenue environment that involved substantial review/rationalisation," AFI/AACTA CEO Damian Trewhella tells IF.
"Since June 2014 there has been a further recovery. We are continuing to rebuild our sponsorship portfolio (including adding Hyundai and Piper Heidsieck), and to develop our programs and events."
The AFI is holding its AGM on April 21. There is one vacancy on the board as the term of Ian Sutherland, AHL's group director of marketing, is expiring.
Sutherland is re-standing and the other candidates are SLR Productions founder Suzanne Ryan, Pack Screen's Peter Castaldi, lawyers Dan Pearce and Tony Petani and filmmaker Marcus Gillezeau.