When the City of Miami went bankrupt, control of the festival was assumed by Florida International University in 1999.

Miami-Dade College took over in late 2003 after Florida International University lost $20 million in state funding and incurred an $800,000 deficit.

GEMS is "a four-day event to present the 'jewels' of the fall season", held annually in October at Tower Theater Miami.

[9] The Miami Film Festival is held for 10 consecutive days, opening annually on the first Friday of March.

[11] The stated mission of the Miami Film Festival is to bridge cultural understanding and encourage artistic development.