Magnum Cultural Foundation
- Assets
- $4.0m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 8
- Location
- New York, NY
- Founding
- 11/2007
- Data as of
- 12/2021
- EIN
- 45-0573269
Organization Overview
Magnum Cultural Foundation is located in New York, NY. The organization was established in 2007. According to its NTEE Classification (A40) the organization is classified as: Visual Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Magnum Cultural Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Magnum Cultural Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Magnum Cultural Foundation generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.6% each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
MENTOR THE NEXT GENERATION OF PHOTOGRAPHERS AND HAVE IMPACT ON HISTORICAL/CONTEMPORARY PHOTOGRAPHY
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAJOR PROGRAM SERVICES INCLUDE: PROVIDING FINANCIAL SUPPORT TO PHOTOGRAPHERS TO DOCUMENT ISSUES OF LOCAL, NATIONAL, OR GLOBAL CONCERN BEFORE THEY REACH CRISIS PROPORTIONS, WITH A FOCUS ON SUBJECTS THAT HAVE NOT RECEIVED THE ATTENTION THEY DESERVE; INCREASING THE IMPACT OF DOCUMENTARY PHOTOGRAPHY BY CONNECTING PHOTOGRAPHERS AND THEIR WORK WITH NONPROFIT ORGANIZATIONS AND INDIVIDUALS COMMITTED TO SOCIAL CHANGE; TRAINING THE NEXT GENERATION OF IMAGE-MAKERS AND GIVING AWARDS TO OUTSTANDING YOUNG PHOTOGRAPHERS COMMITTED TO DOCUMENTARY WORK; AND PRESERVING AND MAKING ACCESSIBLE SIGNIFICANT DOCUMENTARY COLLECTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristen Lubben Executive Director | Officer | 40 | $125,000 |
Newsha Tavakolian Director | Trustee | 0.5 | $6,000 |
Sohrab Hura Director | Trustee | 0.5 | $6,000 |
Susan Meiselas President | OfficerTrustee | 20 | $0 |
Claire Davis Treasurer | OfficerTrustee | 0.5 | $0 |
Alice Sachs Zimet Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $293,635 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,742,146 |
| Noncash contributions included in lines 1a–1f | $47,212 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,035,781 |
| Total Program Service Revenue | $92,134 |
| Investment income | $399 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,788 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,140,102 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,422 |
| Grants and other assistance to domestic individuals. | $72,300 |
| Grants and other assistance to Foreign Orgs/Individuals | $91,021 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $146,380 |
| Compensation of current officers, directors, key employees. | $35,922 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $254,239 |
| Pension plan accruals and contributions | $7,462 |
| Other employee benefits | $13,395 |
| Payroll taxes | $32,579 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $13,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $71,552 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $254,240 |
| Advertising and promotion | $0 |
| Office expenses | $40,077 |
| Information technology | $2,183 |
| Royalties | $0 |
| Occupancy | $12,184 |
| Travel | $128 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,858 |
| Insurance | $7,922 |
| All other expenses | $0 |
| Total functional expenses | $1,059,905 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,506,361 |
| Savings and temporary cash investments | $879,144 |
| Pledges and grants receivable | $704,908 |
| Accounts receivable, net | $40,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,487 |
| Net Land, buildings, and equipment | $572,942 |
| Investments—publicly traded securities | $36,964 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $218,947 |
| Total assets | $3,963,753 |
| Accounts payable and accrued expenses | $48,209 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $206,250 |
| Total liabilities | $254,459 |
| Net assets without donor restrictions | $2,732,778 |
| Net assets with donor restrictions | $976,516 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,963,753 |
Grants Awarded
Over the last fiscal year, Magnum Cultural Foundation has awarded $24,770 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: HUMAN RIGHTS FELLOWSHIP | $15,000 |
New York, NY PURPOSE: HUMAN RIGHTS FELLOWSHIP | $9,770 |
Grants Recieved
Over the last fiscal year, we have identified 16 grants that Magnum Cultural Foundation has recieved totaling $1,599,698.
| Awarding Organization | Amount |
|---|---|
Foundation To Promote Open Society New York, NY PURPOSE: TO PROVIDE GENERAL SUPPORT | $374,000 |
Foundation To Promote Open Society New York, NY PURPOSE: TO PROVIDE GENERAL SUPPORT | $300,000 |
Foundation For A Just Society New York, NY PURPOSE: TO PROVIDE GENERAL OPERATING SUPPORT | $225,000 |
Foundation For A Just Society New York, NY PURPOSE: TO PROVIDE GENERAL OPERATING SUPPORT | $225,000 |
Foundation To Promote Open Society New York, NY PURPOSE: TO PROVIDE GENERAL SUPPORT | $200,000 |
Commonwealth Fund New York, NY PURPOSE: VISUAL STORYTELLING ON HEALTH EQUITY | $120,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Production Industrial Tech Textile & Prof Employees Loc 124 Wlfr Fund Valhalla, NY | $838,103 | $5,998,825 |
Lily Auchincloss Foundation Inc New York, NY | $46,827,043 | $6,935,321 |
Solow Art And Architecture Foundation New York, NY | $241,786,081 | $29,285,009 |
Municipal Art Society Of New York New York, NY | $12,093,728 | $3,370,052 |
The Wildenstein Plattner Institute New York, NY | $1,898,409 | $4,064,152 |
Drawing Center Inc New York, NY | $11,094,197 | $3,697,448 |
Conservation Center For Art And Historic Artifacts Philadelphia, PA | $4,515,696 | $3,186,711 |
Clay Studio Philadelphia, PA | $16,944,971 | $9,873,164 |
Van Alen Institute Projects In Public Architecture Brooklyn, NY | $44,490,814 | $3,072,994 |
Urbanglass New York Contemporary Glass Center Inc Brooklyn, NY | $1,687,992 | $2,437,335 |
American Institute Of Architects New York, NY | $10,952,534 | $3,079,461 |
Manchester Craftsmens Guild Pittsburgh, PA | $15,522,345 | $4,460,670 |