About Us Admin. Letter

July 1, 2008

Dear Participating Musician/Beneficiary,

This past year has been another difficult one for the motion picture industry.  Not only have home video sales continued to flatten or decline, but motion picture piracy has also seriously eroded home video and box office receipts. Despite all this, the Fund ended its fiscal year with a record high of more than $82 million in contributions.

As previously reported in the Fund’s April 2008 newsletter, this is the result of the fact that the number of pictures scored under the AFM Motion Picture agreement is steadily increasing. This has been especially significant in the area of low budget and independent films. 

In addition, the Fund’s staff has been especially successful in ensuring the full compliance under the Motion Picture and Television agreement(s), while continuing to refine our internal operations to achieve greater efficiency and service to Participants.

An Exciting New Payment Option:

In continuing our efforts to provide more efficient and secure ways to pay our participants we now offer a new preferred payment method in addition to direct deposit...the ability for participants to receive their funds on a GlobalCash - branded debit MasterCard ( “PayCard”).  By electing to receive their funds on the PayCard, participants can experience the flexibility, convenience, and security of having instant access to their money from anywhere in the world, eliminating the expense and hassles associated with the traditional check.  Signing up is easy.  No bank account or credit check is required.  Just download the application form and return it to Participant Services in the enclosed self-addressed stamped envelope.  An original signed copy is required.  Adding this service as an alternative to our direct deposit allows us to streamline our payment process; and saves the Fund and Participants valuable time and money.  For more information, please call our Participant Services hotline at (818) 623-4300.

Online Access:

Our website at www.fmsmf.org continues to provide additional benefits. Information such as paid films, obligated films, Fund financials and other materials is available to both Participants and the Industry. If you haven’t signed up, please register for “Private Area” access. Participants who have signed up for “Private Area Access” can use the online service to view and print their annual statements and make changes to their personal account information. Those U.S. Participants with Private Area access also may sign up for Direct Deposit which is a secure and efficient way to ensure your funds get to you. Participants with both Private Area access and Direct Deposit may choose our  “Go Paperless,” option which will enable you to get all of your annual information (except W-2 Forms) electronically. It’s faster and more secure, with a cost savings to the Fund and the Participants. For more information, please visit the website or call our New Participants Services Hotline (818) 623-4300 and ask a “Participant Services Representative” for assistance.   

Thank you for your continued input as it helps the staff know what activities to pursue on your behalf.  

Please take a look at the following Financial Summary for an overview of the Fund’s performance.
 
 Un-Audited Summary of Financial Activities

Note:* Included here is the total of $733,087 payment of prior years’ unclaimed distribution.** In addition to this amount, a balance of $155,450 is carried over from amounts not distributed from the prior omission reserve, leaving a balance of $400,000 set for omissions this year-Sept. 2008.

Enclosed in your distribution package you will find:

• A check (or Direct Deposit voucher) for your portion of the annual disbursement.
• Your individual Participant’s Statement.
• The “Motion Picture Master List” to cross-check your statement against all motion pictures paying into the Fund during this fiscal year period (April 1, 2007–March 31, 2008).
• An “Inquiry Form” and a Postage-Paid return envelope to report any new or previously unreported film related inquiries or other changes you would like the Fund to be aware of.
• Again this year, we are also enclosing a “Direct Deposit Enrollment Form.”
• The NEW PayCard Application Form and Fee information.
• A W4 Tax form which you may use to update your tax profile / filing status.   

Please note that the check enclosed in your distribution package is valid for a period of 90 days from the date of issue and cannot be cashed beyond that time.

The Fund is here to serve you. Please feel free to contact Participant Services directly at (818) 623-4300, or call the Fund toll free at (888)-44-FMSMF and ask for the Participant Services Department. You may also access the Fund’s Web site at www.fmsmf.org, which we encourage you to explore and utilize. We welcome your suggestions.

Wishing you continued success.

Sincerely,

Fund Administrator

Alternate letter formats below...

To save or view the letter in Adobe PDF format <click here>

To save the letter in Microsoft Word* format <click here>

* requires Microsoft Word to view

Need to install Adobe Reader click on the icon below:

Please report any problems to:

Gary Bergman, Systems Manager
gbergman@fmsmf.org