A recent independent audit of Milwaukee Film’s operations reveals a dramatic turnaround in the organization’s financial health.
Milwaukee Film’s board of directors reported Thursday that the nonprofit organization had an operating surplus in 2024 of $193,000, compared to a fiscal deficit of $1.85 million in 2023 and $1.78 million in 2022. The turnaround comes after a turbulent year for Milwaukee Film marked by changing leadership and a mid-2024 restructuring.
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“These results reflect not only prudent fiscal management but also the unwavering support of our donors, volunteers and community partners,” said Milwaukee Film chief financial officer Ryan O’Desky. “The restructuring allowed us to streamline our operations, focus on our exhibition programs and enhance the impact we deliver to the communities we serve.”
Key highlights from the 2024 fiscal year include a 37% increase in donor contributions year-over-year and a consolidation and reduction of expenses that reduced overall costs by almost 22%.
The restructuring in mid-2024 involved a thorough evaluation of programs, staffing and resource allocation. As a result, Milwaukee Film downsized staff, ended its educational and artist mentoring programs like the Teen Filmmakers Lab, and cut its Cultures & Communities Festival. The nonprofit said it would focus resources on the Milwaukee Film Festival and regular screenings at its two theaters.
“These documents reflect our commitment to accountable leadership and demonstrate Milwaukee Film’s operational integrity and fiscal health as we work tirelessly to provide top-tier, year-round cinematic and cultural experiences in the historic Oriental and Downer theaters,” Milwaukee Film executive director Susan Kerns said.
Kerns took over as Milwaukee Film’s executive director in February, succeeding the retiring Anne Reed, who joined the nonprofit in January 2024.
Reed replaced Jonathan Jackson, the founder of Milwaukee Film who had led the organization since 2008. Reed’s role began as an interim post and shifted to a permanent position five months later, before she announced her pending departure. During her tenure, Milwaukee Film reopened the shuttered Downer Theatre in April 2024.
Milwaukee Film also released its 2024 annual report, which shows that 46% of the organization’s revenue came from contributed income. On the expense side, staffing accounted for the largest cost at 41%.
The independent audit of Milwaukee Film’s 2023 and 2024 finances were conducted by Reilly, Penner, & Benton, a local accounting firm.
This year, Milwaukee Film continued a course of change by altering the setup of its annual Milwaukee Film Festival, showing screenings only at the Oriental Theatre and the Downer Theatre, compared to additional screenings at other theaters around the city in the past.
Organizers deemed the centralized East Side footprint as an easier way for attendees to access movies. Under the new format, average attendance at each screening grew by 47% over 2024’s average. However, overall attendance for this year’s festival – 32,004 across all screenings and events – decreased slightly from last year’s total of 32,624, when the festival first returned to a fully in-person event after the COVID-19 pandemic. The festival’s record highest attendance was in 2019, when it drew 87,618 people.
