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43-500: Mercury CX , formerly Media Resource Centre ( MRC ), is a not-for-profit film and television training organisation based in the Lion Arts Centre on the corner of Morphett Street and North Terrace, Adelaide , South Australia, which aims to give screening opportunities to emerging South Australian film, video and digital media artists. It also manages the not-for-profit Mercury Cinema , which shows films by subscription to

86-586: A community media organisation, at the same time. The Mercury and Iris cinemas were created next door and opened by Queen Elizabeth II in 1992. In 2019 the MRC director was Gail Kovatseff. During the COVID-19 pandemic in South Australia , the cinema was forced to close for a while from March 2020. During this time, renovations were undertaken, with the foyer transformed into a lounge bar. The organisation

129-491: A corporate identifier such as "Corp.", "Inc.", or "Co.". A preliminary name availability search is advisable prior to the submission of the Articles of Incorporation. In the case of online incorporation, the state will have the final say with regards to the name chosen for the company. The name should not deceive or mislead consumers. Registered agents are responsible for receiving all legal and tax documentation on behalf of

172-403: A direct campaign. The articles of incorporation (also called a charter , certificate of incorporation or letters patent ) are filed with the appropriate state office, listing the purpose of the corporation, its principal place of business and the number and type of shares of stock. A registration fee is due, which is usually between $ 25 and $ 1,000, depending on the state. A corporate name

215-606: A face-to-face meeting. In the UK, the process of incorporation is generally called company formation. The United Kingdom is one of the quickest locations to incorporate, with a fully electronic process and a very fast turnaround by the national registrar of companies, the Companies House . The current Companies House record is five minutes to vet and issue a certificate of incorporation for an electronic application. There are many different types of UK companies: In Canada ,

258-627: A larger location in Pirie Street in the 1980s, where it provided a venue to screen local filmmakers' works as well as other independent, community or hard-to-find international films; it also provided equipment space for filmmakers to work on their projects and network with others. In 1992 the MRC moved to the purpose-built Lion Arts Centre , located in a refurbished factory in the West End of Adelaide and housing numerous arts organisations, including galleries and theatres. It merged with Commedia,

301-507: A low-budget feature film which is premiered at the next AFF. Not-for-profit A not-for-profit or non-for-profit organization ( NFPO ) is a legal entity that does not distribute surplus funds to its members and is formed to fulfill specific objectives. An NFPO does not earn profit for its owners, as any revenue generated by its activities must be put back into the organization. While not-for-profit organizations and non-profit organizations (NPO) are distinct legal entities,

344-415: A mention in the articles of incorporation, along with the voting rights information. Generally, preferred shares provide its shareholders preferential payments of distribution of assets or dividends, in case the company shuts down its operations. A lot of small business owners only allow shares of common stock. There are a number of legal benefits that come with incorporation. One significant legal benefit

387-462: A narrative emerges that offers an explanation for why such views are upheld. In 1816, the New Hampshire state legislature passed a bill intended to turn privately owned Dartmouth College into a publicly owned university with a board of trustees appointed by the governor. The board filed a suit challenging the constitutionality of the legislation. The suit alleged that the college enjoyed

430-759: A school holiday programme. The Cinema also hosts film festivals, some one-off and some annual occurrences. In the latter group are a programme of the best films from the Flickerfest (a Sydney festival for short films), films from the Adelaide Festival Centre 's OzAsia Festival , selected films for the Adelaide Film Festival , and the Iranian Film Festival Australia (which occurs in most of Australia's capital cities). The Screen Makers Conference

473-475: A shareholder of a Corp. or LLC cannot seize the assets of the company. However, the creditor may be able to seize ownership shares in the corporation, as they are considered a personal asset. In the United States, corporations can sometimes be taxed at a lower rate than individuals. Also, corporations can own shares in other corporations and receive corporate dividends 80% tax-free. There are no limits on

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516-591: Is a membership-based association , which holds charitable status . It has a constitution and a board of directors to oversee its management. Since December 2022 and as of August 2024 the board is chaired by , while the CEO is Karena Slaninka. The organisation was in the past funded by Screen Australia . As of May 2022 it receives A$ 250,000 annually from the South Australian Film Corporation specifically to support talent development in

559-515: Is an annual national conference hosted by the MRC since 2014, and aims to "[bring] together Australia’s writers, directors, producers and other screen creatives to share knowledge, connect with the industry, and pitch projects to the national marketplace". It is regarded as one of two major annual conferences for filmmakers, the other being the Australian International Documentary Conference . In 2018

602-576: Is easily transferable to others, either in whole or in part. Some state laws are particularly corporate-friendly. For example, the transfer of ownership in a corporation incorporated in US-DE is not required to be filed or recorded. Legal opinion on corporations has evolved significantly throughout history, and Supreme Court cases provide a means to observe this evolution. While these cases may seem arbitrary and decontextualized when examined individually, when viewed successively and within historical context,

645-412: Is generally made up of three parts: "distinctive element", "descriptive element", and a legal ending. All corporations must have a distinctive element, and in most filing jurisdictions, a legal ending to their names. Some corporations choose not to have a descriptive element. In the name "Tiger Computers, Inc.", the word "Tiger" is the distinctive element; the word "Computers" is the descriptive element; and

688-450: Is the protection of personal assets against the claims of creditors and lawsuits. Sole proprietors and general partners in a partnership are personally and jointly responsible for all the legal liability (LL) of a business such as loans, accounts payable, and legal judgments. In a corporation, however, shareholders , directors and officers typically are not liable for the company's debts and obligations. They are limited in liability to

731-726: The Adelaide Cinémathèque film society, screening classic or notable films and hosts film festivals and other events. Mercury CX hosts the Screenmakers Conference and the South Australian Screen Awards . The Media Resource Centre was established in 1974 and is one of the earliest members of the Screen Development Australia ( SDA ) national network. It moved from its first location at 1 Union Street to

774-587: The Australian film industry . The Marshall government gave emergency funding of A$ 300,000 in September 2021 to support ongoing operations. In 2022 Mercury CX submitted a funding request for an ongoing operating budget of A$ 700,000 to A$ 1.2 million , but it was refused by the newly-elected South Australian government under Peter Malinauskas , based on a report prepared by the Marshall government. At

817-442: The certificate of incorporation . A business purpose describes the incorporated tasks a company has to do or provide. The purpose can be general, indicating that the budding company has been formed to carry out "all lawful business" in the region. Alternatively, the purpose can be specific, furnishing a more detailed explanation of the products and/or services to be offered by their company. The chosen name should be followed with

860-462: The right to contract and the government changing that contract was not allowed. Chief Justice John Marshall delivered the majority opinion and affirmed that the right to contract exists between owners of private property rather than between a government and its citizens. The case was the first case in US history that asked fundamental questions about corporate entities and the protections they enjoy; it also

903-507: The "Inc." is the legal ending. The legal ending indicates that it is in fact a legal corporation and not just a business registration or partnership . Incorporated, limited , and corporation, or their respective abbreviations (Inc., Ltd., Corp.) are the possible legal endings in the US. Usually, there are also corporate bylaws which must be filed with the state. Bylaws outline a number of important administrative details such as when annual shareholder meetings will be held, who can vote and

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946-610: The ABC and SBS . In 2019 it expanded to three days, partnered with television production company Screentime and also included video games in its remit. The Media Resource Centre has run the South Australian Screen Awards (SASAs) since establishing them in 1999, to "exhibit, celebrate and promote the best screen works of the South Australian film industry". These are awarded in conjunction with

989-516: The AGM on 31 May 2022, members voted unanimously to oppose closing down the organisation. CEO Slaninka said that extra funding was need to help the cinema recover from the effects of the COVID-19 pandemic in South Australia , and that a "Save the Mercury" campaign to raise funds would be launched. Mercury CX is a not-for-profit incorporated association which provides facilities for career development in

1032-599: The Conference attracted over 200 delegates, including Screen Australia CEO Graeme Mason and Kingston Anderson from the Australian Directors' Guild , independent filmmaker and educator Cathy Henkel , Rowan Woods , currently head of directing at the Australian Film, Television and Radio School , senior managers from several major national TV companies as well as the government-owned broadcasters,

1075-498: The Lion Arts Centre, facing Morphett Street. As a not-for-profit organisation, there is a film society, Adelaide Cinémathèque, members of which can attend regularly scheduled films. The Iris is available for hire as a venue, and is used for Adelaide Fringe performances as well as for many other uses. The Cinema also runs a series of programmes on a weekly or bi-weekly basis, such as Sunday Sessions and Seniors on Screen, and

1118-552: The Mercury CX's career development program, Springboard+ (formerly Springboard). Since 2021, Mercury CX has participated in the Film Lab: New Voices initiative launched by the South Australian Film Corporation and Adelaide Film Festival (AFF). This program supports emerging filmmakers, with three teams selected for mentoring over an 11-month development period and one team then selected for funding to complete

1161-472: The Screenmakers' Conference, and in 2019 awarded A$ 40,000 of prizes, including two new awards: best costume, and best hair & makeup. The Mercury CX supports developing South Australian filmmakers via its own programs and in collaboration with other organisations. Its Production Initiative Program (PIP) which funded five shorts and web series in 2020. Selected projects are often then developed in

1204-401: The amount of losses a corporation may carry forward to subsequent tax years. A sole proprietorship, on the other hand, cannot claim a capital loss greater than $ 3,000 unless the owner has offsetting capital gains. A corporation is capable of continuing indefinitely. Its existence is not affected by the death of shareholders, directors, or officers of the corporation. Ownership in a Corp. or LLC

1247-399: The amount they have invested in the corporation. For example, if a shareholder purchased $ 100 in stock, no more than $ 100 can be lost. On the other hand, a corporation (Corp.) or a limited liability company (LLC) may hold assets such as real estate, cars or boats. If a shareholder of a corporation is personally involved in a lawsuit or bankruptcy , these assets may be protected. A creditor of

1290-494: The corporation. Share per value refers to the stated minimum value and generally doesn't correspond to the actual share value. In reality, the value of a share is based on its fair market value or the amount a buyer is willing to pay. An Inc. stipulates the exact number of shares the corporation is willing to authorize. It is mandatory for every corporation to have stock. If the corporation is willing to permit both preferred as well as common shares of stock, then this should have

1333-471: The court ruled that there could be a corporate tax, essentially saying the structure of business was a justifiably discriminatory criterion for governments to consider when writing tax legislation. This was a unique ruling handed down during a unique time in US history that denied a corporation freedom it sought in the courtroom. From 1940 to 1990 the percent of total GDP made up by financial service professionals increased by 300%. Along with that growth there

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1376-442: The film industry, from entry-level to early career, providing access to equipment, advice and a subsidy programme. It offers production support, professional development and industry and community partnerships. The offices are located in the Lion Arts Centre on the corner of Morphett Street and North Terrace, Adelaide. The Mercury Cinema building includes its main 186-seat cinema as well as the 36-seat Iris Cinema, situated adjacent to

1419-539: The goal of generating profit. An example of this is a sports club , which exists for the enjoyment of its members and thus would function well as an NFPO, with revenue being re-invested into improving the organization. These organizations typically file for tax exemption in the United States under section 501(c)(7) of the Internal Revenue Code as social clubs. Common ventures for which NFPOs are established include: Charities, as NFPOs, function under

1462-402: The issue of corporate contributions came before the court again. In Citizens United v. FEC the court said there was virtually no distinction between monetary contributions and political speech, and because we do not limit political speech unless it is tantamount to bribery, corporations have the right as people to donate unlimited amounts of money to any political cause so long as it is not to

1505-426: The late 19th into the early 20th centuries came to a screeching halt in 1929. The Great Depression , as it came to be known, helped a view of corporations emerge that put them at odds with the normal working man. The election of Franklin D. Roosevelt was a manifestation of many populist sentiments the country might have felt. In 1933 a Florida case came before the court, again disputing taxation. In Liggett v. Lee

1548-535: The manner in which shareholders will be notified if there is need for an additional "special" meeting. Corporations can only deduct net operating losses going back two years and forward 20 years. Assuming a corporation has not sold stock to the public, conducting corporate business is straightforward. Often, it amounts to recording key corporate decisions (for example, borrowing money or buying real estate) and holding an annual meeting. These formalities can often be supplanted by written agreement and do not usually need

1591-468: The premise that any revenue generated should be used to further their charitable missions rather than distribute profits among members. This revenue might come from donations, fundraising, or other activities undertaken to support their charitable cause. Incorporated association Specific incorporation requirements in the United States differ on a state by state basis. However, there are common pieces of information that states require to be included in

1634-762: The process of incorporation can be done either at the federal or provincial level. Companies which incorporate with the federal government will generally need to register extra-provincially in the province that they elect to do business. Similarly, a provincial corporation may need to register extra-provincially if they are to have offices outside of their home province. Incorporated Canadian companies can generally use either Corp., Corporation, Inc., Incorporated, Incorporée, Limited, Limitée, Ltd., Ltée, Société par actions de régime fédéral, and S.A.R.F in their name, but this may vary from province to province. Note that there are two government structures operating within Canada. French system

1677-432: The tax code was misapplied to some of their property and assets. In deciding the case, a unanimous court ruled that governments must abide by the same tax code enforcement for individuals that it did for corporations. While not explicitly stated in the case, it was implied that this case extended equal protection rights to corporations under the 14th amendment . The booming economy the railroad corporations helped build from

1720-509: The terms are sometimes used interchangeably. An NFPO must be differentiated from a NPO as they are not formed explicitly for the public good as an NPO must be, and NFPOs are considered "recreational organizations", meaning that they do not operate with the goal of generating revenue as opposed to NPOs. An NFPO does not have the same obligation as an NPO to serve the public good, and as such it may be used to apply for tax-exempt status as an organization that serves its members and does not have

1763-609: Was a growth in the profits this industry experienced as well. As the disposable income of banks and other financial institutions rose, they sought a way to use it to influence politics and policy. In response, Massachusetts passed a law limiting corporate donations strictly to issues related to their industry. The First National Bank of Boston challenged the law on First Amendment grounds and won. First National Bank of Boston v. Bellotti allowed business to use financial speech in political causes of any nature. In 2010 amidst an outpouring of frustration and blame directed at Wall Street

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1806-563: Was a precedent-setting case in extending "individual rights" to corporations. The railroad was an expensive multi-year project that greatly changed and altered both the physical and commercial landscape of the country. As with most new technology developments that have a broad impact, there are disputes about how those technologies and the businesses they thrive in fit under the umbrella of laws that govern regulations and taxation. In 1886 one such taxation dispute arose between Santa Clara County and Southern Pacific Railroad . The railroad thought

1849-714: Was rebranded Mercury CX and a new website launched. The organisation has struggled to remain solvent, and has relied heavily on public funding by the state government. In 2022 the South Australian Government refused a request for $ 700,000 to $ 1.2 million in annual funding, but months later offered $ 50,000 to help the organisation find a way to keep afloat. A new board started its term on 1 December, led by former South Australian Film Corporation chair Peter Hanlon and producer Kirsty Stark , and including producers Lisa Scott of Highview Productions and Rebecca Summerton of Closer Productions . Mercury CX

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