Skip to content
Nonprofiteer
← MAGNUM CULTURAL FOUNDATION

Form 990 for tax year 2024

Filed by MAGNUM CULTURAL FOUNDATION.

Totals

Total revenue
$1,316,188
Total expenses
$1,901,122
Contributions and grants received
$1,276,982
Grants paid
$374,669
Program service revenue
$16,250
Investment income
$1,112
Other revenue
$21,844
Total assets, end of year
$4,067,586
Total liabilities, end of year
$68,648
Net assets or fund balances, end of year
$3,998,938
Program services expenses (Part IX)
$1,312,275
Management and general expenses
$291,828
Fundraising expenses
$297,019
Program service expenses (Part III)
$1,312,275

Program services were 69.0% 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.

  • 1e · Government grants (contributions)

    $155,480

  • 1f · All other contributions, gifts and grants

    $1,121,502

  • 1g · Noncash contributions included above

    $95,134

  • 2a · Program service revenue: CONTRACTED SERVICES

    total $16,250 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $958 · unrelated business $0 · excluded $958

  • 6a · Gross rents

    real property $4,150

  • 6c · Rental income or loss

    real property $4,150

  • 6d · Net rental income or loss

    total $4,150 · excluded $4,150

  • 7a · Gross sales of assets other than inventory

    securities $128,296

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

    securities $128,142

  • 7c · Gain or loss

    securities $154

  • 7d · Net gain or loss

    total $154 · related or exempt $0 · unrelated business $0 · excluded $154

  • 11a · Other revenue: MISCALLENEOUS INCOME

    total $9,689 · related or exempt $9,689 · unrelated business $0 · excluded $0

  • 11b · Other revenue: FISCAL SPONSORSHIP FEES

    total $8,005 · related or exempt $8,005 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $17,694

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $29,700 · program services $29,700

  • 2 · Grants to domestic individuals

    total $206,881 · program services $206,881

  • 3 · Grants to foreign organizations and individuals

    total $138,088 · program services $138,088

  • 5 · Compensation of officers, directors and key employees

    total $154,413 · program services $61,765 · management and general $46,324 · fundraising $46,324

  • 7 · Other salaries and wages

    total $441,106 · program services $258,066 · management and general $72,883 · fundraising $110,157

  • 8 · Pension plan contributions

    total $17,999 · program services $9,667 · management and general $3,603 · fundraising $4,729

  • 9 · Other employee benefits

    total $40,246 · program services $21,615 · management and general $8,056 · fundraising $10,575

  • 10 · Payroll taxes

    total $45,560 · program services $24,468 · management and general $9,120 · fundraising $11,972

  • 11b · Fees: legal

    total $425 · program services $0 · management and general $425 · fundraising $0

  • 11c · Fees: accounting

    total $93,412 · program services $0 · management and general $93,412 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $71,600 · fundraising $71,600

  • 11g · Fees: other

    total $316,339 · program services $293,118 · management and general $7,625 · fundraising $15,596

  • 12 · Advertising and promotion

    total $4,390 · program services $2,959 · management and general $634 · fundraising $797

  • 13 · Office expenses

    total $57,639 · program services $39,340 · management and general $12,582 · fundraising $5,717

  • 16 · Occupancy

    total $17,954 · program services $10,886 · management and general $3,422 · fundraising $3,646

  • 17 · Travel

    total $125,689 · program services $119,332 · management and general $6,310 · fundraising $47

  • 22 · Depreciation, depletion and amortization

    total $38,074 · program services $20,483 · management and general $7,794 · fundraising $9,797

  • 23 · Insurance

    total $9,463 · program services $5,103 · management and general $1,932 · fundraising $2,428

  • 24a · Other expenses: STORAGE FEES

    total $20,780 · program services $17,632 · management and general $3,148 · fundraising $0

  • 24b · Other expenses: TELECOMMUNICATIONS

    total $18,889 · program services $12,985 · management and general $2,616 · fundraising $3,288

  • 24c · Other expenses: LODGING AND MEALS

    total $31,026 · program services $30,676 · management and general $350 · fundraising $0

  • 24d · Other expenses: CATERING AND HOSPITALITY

    total $12,159 · program services $8,788 · management and general $3,371 · fundraising $0

  • 24e · All other expenses

    total $9,290 · program services $723 · management and general $8,221 · fundraising $346

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,126,709 · end of year $1,637,983

  • 2 · Savings and temporary cash investments

    beginning of year $879,490 · end of year $879,665

  • 3 · Pledges and grants receivable

    beginning of year $546,736 · end of year $471,347

  • 9 · Prepaid expenses and deferred charges

    beginning of year $34,526 · end of year $12,741

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

    $854,905

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

    $96,615

  • 10c · Land, buildings and equipment, net

    beginning of year $793,018 · end of year $758,290

  • 11 · Investments: publicly traded securities

    beginning of year $48,922

  • 15 · Other assets

    beginning of year $264,400 · end of year $307,560

  • 17 · Accounts payable and accrued expenses

    beginning of year $123,669 · end of year $66,148

  • 18 · Grants payable

    beginning of year $22,520 · end of year $2,500

  • 27 · Net assets without donor restrictions

    beginning of year $3,911,280 · end of year $3,519,438

  • 28 · Net assets with donor restrictions

    beginning of year $636,332 · end of year $479,500

Mission and programs · 2024

Mission

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 $1,312,275 · Grants $374,669 · Revenue $16,250

As filed on the 2024 return.

Listed in Part VII

  • Kristen Lubben

    EXECUTIVE DIRECTOR

    Total calculated
    $159,817
    From this org
    $154,413
    From related orgs
    $0
    Other
    $5,404
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,149
    Bonus
    $0
    Other
    $9,264
    Deferred
    $0
    Nontaxable benefits
    $5,404
    Filer's total
    $159,817
  • Susan Meiselas

    PRESIDENT

    Total calculated
    $0
    Hours/week
    7.5
  • 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
  • Ellis 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 Sachs Zimet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5
  • Rafal Milach

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5
  • Peter Van Agtmael

    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • Visual Arts Foundation

    $25,000

    PHOTOGRAPHERS EDUCATION

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202533219349301648

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.