The 4th Independent Spirit Awards, honoring the best in independent filmmaking for 1988, were announced on March 25, 1989 at the Hollywood Roosevelt Hotel in Los Angeles. It was hosted by Buck Henry.

Stand and Deliver is a 1988 American drama film directed by Ramón Menéndez, written by Menéndez and Tom Musca, based on the true story of a high school mathematics teacher, Jaime Escalante. For portraying Escalante, Edward James Olmos was nominated for the Academy Award for Best Actor at the 61st Academy Awards. The film won the Independent Spirit Award for Best Feature in 1988. The film's title refers to the 1987 Mr. Mister song of the same name, which is also featured in the film's ending credits.