Besides directing, Madonna is a co-producer and co-writer of the film, Variety reported.
The dramedy has interwoven stories of a man who spanks for money, a chemist and a pole dancer, among other characters.
"I want the most amount of people to see it as possible," Madonna said, explaining why she chose a partnership with IFC.
The picture is expected to simultaneously open in theaters and video-on-demand this fall.
"She took some interesting risks stylistically that all pay off at the end," said Ariana Bocco, IFC's acquisitions and production vice president.
"When I saw the film I felt that it deserved a bigger, wider platform. Madonna and her crew are open to the kind of release we're going to do, so it was a natural fit."