The Commonwealth of Massachusetts has made $3,000,000 available to support movie theaters in the Commonwealth negatively impacted by the COVID-19 pandemic.
Donor Name: Massachusetts Growth Capital Corporation (MGCC)
State: Massachusetts
County: All Counties
Type of Grant: Grant
Deadline: 04/28/2023
Size of the Grant: $15,000
Details:
This program targets movie theaters in the Commonwealth that: (a) have had not less than $15,000 in box office ticket sales in calendar year 2019, (b) have experienced a decline in box office sales between calendar year 2019 and subsequent years, or portions thereof, of 40 percent or more: (c) be physically located in the Commonwealth; and (d) have no current tax liens on record with the department of revenue at the time of application. Priority shall be given to applicants with 4 screens or fewer and those headquartered in Massachusetts.
Eligible applicants shall receive $15,000 per screen for each of the first 2 screens at a particular location and $10,000 per each additional screen at a particular location. This project is being supported by federal award number SLFRP1025 awarded to the Commonwealth of Massachusetts by the U.S. Department of the Treasury. These funds were appropriated through the Commonwealth’s FY2023 Economic Development Bill.
Funding Information
Maximum grant amount will be based on the application pool received, with the following criteria:
- $15,000 for each of the first two screens at a particular location
- $10,000 for each additional screen at a particular location
Eligible Applicants
Businesses eligible to receive an Independent Movie Theater Grant must meet all the qualifications below:
- An operating movie theater in Massachusetts
- Has no more than 500 employees
- Independently owned
- Cannot be dominant in their field of operation
- Address on your Federal Business Tax Return must be within Massachusetts
- For-profit entity (sole proprietorship, partnership, corporation, cooperative or LLC)
- Owned by individuals
- Business owners must have a valid Social Security Number
- Revenues for 2019 must be between $15,000 and $47,000,000 based on 2019 Federal Business Tax Returns – line 1, IRS Form 1040 Schedule C – line 1c, IRS Form 1120-C – line 1c, IRS Form 1120-S – line 1c, IRS Form 1120 – line 1c, IRS Form 1065
- Revenues must have declined at least 40% between calendar year 2019 and subsequent years Currently in operation
- Business must have been established and in operation prior to 09/30/2019
- Business must be in good standing with federal, state and city/town:
- No current tax liens on record with the Department of Revenue at time of application; and
- Current on all taxes; and
- Have active and valid state licenses/registrations, if applicable
While all businesses meeting the above criteria are eligible, priority will be given to businesses that fit the below conditions:
- Headquartered in Massachusetts
- Have four or fewer screens
For more information, visit MGCC.
