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Nonprofiteer
← MAGNUM CULTURAL FOUNDATION

Form 990 for tax year 2022

Filed by MAGNUM CULTURAL FOUNDATION.

Totals

Total revenue
$2,696,577
Total expenses
$1,515,996
Contributions and grants received
$2,650,964
Grants paid
$320,909
Program service revenue
$24,583
Investment income
$11,292
Other revenue
$9,738
Total assets, end of year
$5,238,755
Total liabilities, end of year
$120,838
Net assets or fund balances, end of year
$5,117,917
Program services expenses (Part IX)
$893,393
Management and general expenses
$383,323
Fundraising expenses
$239,280
Program service expenses (Part III)
$893,393

Program services were 58.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $1,306

  • 1e · Government grants (contributions)

    $109,700

  • 1f · All other contributions, gifts and grants

    $2,539,958

  • 1g · Noncash contributions included above

    $25,922

  • 2a · Program service revenue: PROGRAM SERVICE INCOME

    total $24,583 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $410 · unrelated business $0 · excluded $410

  • 6a · Gross rents

    real property $3,100

  • 6c · Rental income or loss

    real property $3,100

  • 6d · Net rental income or loss

    total $3,100 · excluded $3,100

  • 7a · Gross sales of assets other than inventory

    securities $23,938

  • 7b · Less cost or other basis and sales expenses

    securities $13,056

  • 7c · Gain or loss

    securities $10,882

  • 7d · Net gain or loss

    total $10,882 · related or exempt $0 · unrelated business $0 · excluded $10,882

  • 8a · Fundraising events: contributions included on line 1c

    $1,306

  • 11a · Other revenue: MISCALLENEOUS INCOME

    total $6,638 · related or exempt $6,638 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $6,638

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $40,857 · program services $40,857

  • 2 · Grants to domestic individuals

    total $107,961 · program services $107,961

  • 3 · Grants to foreign organizations and individuals

    total $172,091 · program services $172,091

  • 5 · Compensation of officers, directors and key employees

    total $143,582 · program services $57,432 · management and general $43,075 · fundraising $43,075

  • 7 · Other salaries and wages

    total $276,319 · program services $106,438 · management and general $103,481 · fundraising $66,400

  • 8 · Pension plan contributions

    total $13,256 · program services $5,134 · management and general $4,729 · fundraising $3,393

  • 9 · Other employee benefits

    total $24,087 · program services $9,346 · management and general $8,726 · fundraising $6,015

  • 10 · Payroll taxes

    total $32,129 · program services $12,536 · management and general $11,211 · fundraising $8,382

  • 11b · Fees: legal

    total $10,000 · program services $0 · management and general $10,000 · fundraising $0

  • 11c · Fees: accounting

    total $92,039 · program services $0 · management and general $92,039 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $90,956 · fundraising $90,956

  • 11g · Fees: other

    total $333,867 · program services $277,390 · management and general $52,877 · fundraising $3,600

  • 12 · Advertising and promotion

    total $3,195 · program services $1,297 · management and general $1,105 · fundraising $793

  • 13 · Office expenses

    total $80,312 · program services $47,626 · management and general $26,675 · fundraising $6,011

  • 16 · Occupancy

    total $7,525 · program services $2,914 · management and general $2,685 · fundraising $1,926

  • 17 · Travel

    total $15,719 · program services $11,866 · management and general $3,433 · fundraising $420

  • 22 · Depreciation, depletion and amortization

    total $17,208 · program services $6,151 · management and general $9,201 · fundraising $1,856

  • 23 · Insurance

    total $8,576 · program services $3,321 · management and general $3,060 · fundraising $2,195

  • 24a · Other expenses: STORAGE FEES

    total $16,283 · program services $16,283 · management and general $0 · fundraising $0

  • 24b · Other expenses: TELECOMMUNICATIONS

    total $15,867 · program services $6,559 · management and general $5,423 · fundraising $3,885

  • 24c · Other expenses: LODGING AND MEALS

    total $7,467 · program services $6,962 · management and general $505 · fundraising $0

  • 24d · Other expenses: CATERING AND HOSPITALITY

    total $5,242 · program services $664 · management and general $4,578 · fundraising $0

  • 24e · All other expenses

    total $1,458 · program services $565 · management and general $520 · fundraising $373

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,506,361 · end of year $2,915,083

  • 2 · Savings and temporary cash investments

    beginning of year $879,144 · end of year $879,317

  • 3 · Pledges and grants receivable

    beginning of year $704,908 · end of year $334,800

  • 4 · Accounts receivable

    beginning of year $40,000 · end of year $20,680

  • 9 · Prepaid expenses and deferred charges

    beginning of year $4,487 · end of year $8,770

  • 10a · Land, buildings and equipment: cost or other basis

    $792,400

  • 10b · Land, buildings and equipment: accumulated depreciation

    $22,171

  • 10c · Land, buildings and equipment, net

    beginning of year $572,942 · end of year $770,229

  • 11 · Investments: publicly traded securities

    beginning of year $36,964 · end of year $45,476

  • 15 · Other assets

    beginning of year $218,947 · end of year $264,400

  • 17 · Accounts payable and accrued expenses

    beginning of year $48,209 · end of year $120,838

  • 25 · Other liabilities

    beginning of year $206,250

  • 27 · Net assets without donor restrictions

    beginning of year $2,732,778 · end of year $4,504,673

  • 28 · Net assets with donor restrictions

    beginning of year $976,516 · end of year $613,244

Mission and programs · 2022

Mission

TO SUPPORT, TRAIN, AND MENTOR THE NEXT GENERATION OF PHOTOGRAPHERS AND TO INCREASE THE IMPACT OF BOTH HISTORICAL AND CONTEMPORARY DOCUMENTARY PHOTOGRAPHY IN THE DIGITAL AGE.

Activities or mission (Part I)

MENTOR THE NEXT GENERATION OF PHOTOGRAPHERS AND HAVE IMPACT ON HISTORICAL/CONTEMPORARY PHOTOGRAPHY

  • 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.

    Expenses $893,393 · Grants $320,909 · Revenue $24,583

As filed on the 2022 return.

Listed in Part VII

  • Kristen Lubben

    EXECUTIVE DIRECTOR

    Total calculated
    $148,607
    From this org
    $143,582
    From related orgs
    $0
    Other
    $5,025
    Hours/week
    40

  • Susan Meiselas

    PRESIDENT

    Total calculated
    $3,000
    From this org
    $3,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Peter Van Agtmael

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Pamela Chen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Diana Cohn

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Claire Davis

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.75

  • Lisa Garrison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Sohrab Hura

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mark Jackson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.75

  • Jonathan Kartt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Catherine Muther

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Eli Reed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Orville Schell

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Newsha Tavakolian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Cynthia Young-Eberstadt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Alice Zimet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

  • Peabody Essex Museum Inc

    $24,337

    Fellowship Grant

  • Matt Eich Photography

    $9,520

    Fellowship Grant

  • Alice Proujansky Photography

    $7,000

    Fellowship Grant

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202333199349304663

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