Did you know that the Academy of Motion Picture Arts & Sciences is a tax-exempt nonprofit that annually files an IRS 990 report? Yes, the Academy Awards and the Oscars' telecast are educational endeavors as defined by the Treasury Department and their tax filings are public records. My previous posts on their 990s are here and here.
According to the most current file, submitted to the IRS on May 8, 2014, the previous year's Oscar broadcast brought in $91,998,904 tax-free money. Nice chunk of change for providing education about the art of Hollywood movies to the general masses.
The Academy donated $10,000 in 2012 and also 2013 to the Los Angeles Police Department Foundation "to support the organization". The $20,000 in total donations stands out because the Academy principally gives to industry nonprofits. Read the Academy's tax reports here.
While the Oscar nominations this year have generated the genuinely truthful hashtag #OscarsSoWhite, we need to think about how #OscarsSoGreen is also a fitting hashtag. Never underestimate that the color of money drives Hollywood's business and creative decisions.
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