Overview
What is Magnum Cultural Foundation?
The Magnum Cultural Foundation, situated in New York, New York, is a nonprofit organization dedicated to empowering photographers. Its primary mission is to provide financial assistance to photographers, enabling them to document pressing local, national, or global issues before they escalate to crisis levels. The foundation has a particular focus on subjects that often go unnoticed. It also strives to amplify the impact of documentary photography by connecting photographers with individuals and nonprofit organizations committed to social change. Furthermore, the Magnum Cultural Foundation invests in the future of photography by training the next generation of image-makers and honoring outstanding young photographers engaged in documentary work. In addition, the foundation preserves and makes accessible significant documentary collections in the digital age. With a workforce of seven dedicated individuals, the Magnum Cultural Foundation is a hub of support, mentorship, and innovation in the realm of documentary photography.
Official website here: www.magnumfoundation.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Star Rating)
Magnum Cultural Foundation has achieved a commendable four-star rating from Charity Navigator, indicating strong performance in accountability and finance. The rating reflects exceptional management practices, particularly with a 100% independent board and robust oversight mechanisms. The charity shows a commitment to transparency, evidenced by policies such as conflict of interest and whistleblower protections, along with documented board meeting minutes.
Financially, Magnum Cultural Foundation maintains a solid position with a low liabilities-to-assets ratio of 2.29%, suggesting strong financial health. The organization allocates a significant portion of its budget to program expenses, with a ratio of 65.09%, demonstrating a commitment to its mission. Additionally, its fundraising efficiency is remarkable, with only $0.08 spent on fundraising for every dollar raised.
While the foundation excels in many areas, the program expense ratio could be improved to align more closely with industry standards. However, overall, Magnum Cultural Foundation is recognized for its effective financial practices and dedication to accountability, making it a trustworthy choice for donors.
This AI summary has been generated from information found on Charity Navigator.
What do the Facebook reviews say about Magnum Cultural Foundation?
98% of 12 reviewers on Facebook recommend the Magnum Cultural Foundation. The sentiments expressed highlight a strong respect for the organization, with users appreciating the positive impact it has on the community. Many praised its dedication to promoting cultural awareness and providing enriching experiences.
Supporters noted the foundation's effectiveness in fostering community engagement through various events and initiatives. Reviewers emphasized the welcoming atmosphere and the opportunities provided for artistic expression and cultural exchange. This commitment to its mission appears to resonate deeply with attendees and participants.
Overall, the Magnum Cultural Foundation is seen as a valuable asset to the community, successfully delivering on its promise of cultural enrichment and support.
This AI summary has been generated from reviews found on Facebook.
Is Magnum Cultural Foundation legitimate?
Magnum Cultural Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Magnum Cultural Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $143,582
Professional Fundraising Fees: $90,956
Other Salaries and Wages: $276,319
For more financial information, click here
Official website here: www.magnumfoundation.org
What is the mission statement of Magnum Cultural Foundation?
The Magnum Cultural Foundation's mission is centered around supporting, training, and mentoring the next generation of photographers. Their goal is to enhance the impact of both historical and contemporary documentary photography in the digital era. Major program services include providing financial support to photographers documenting issues of local, national, or global concern before they reach crisis proportions, particularly focusing on underrepresented subjects. They also strive to increase the impact of documentary photography by connecting photographers and their work with nonprofit organizations and individuals committed to social change. Additionally, the foundation offers training for the next generation of image-makers and awards outstanding young photographers dedicated to documentary work. Lastly, they preserve and make accessible significant documentary collections.
Official website here: www.magnumfoundation.org
Who is the CEO of Magnum Cultural Foundation?
Kristen Lubben is the Executive Director of Magnum Cultural Foundation.
Official website here: www.magnumfoundation.org
What is the revenue of Magnum Cultural Foundation?
Magnum Cultural Foundation's revenue in 2022 was $2,696,577.
Official website here: www.magnumfoundation.org
Who are the executives of Magnum Cultural Foundation and what are their salaries?
The average compensation at Magnum Cultural Foundation during 2022 was $59,986. There are 7 employees and 2 volunteers at Magnum Cultural Foundation.
Here are 16 key members and their salaries:
- Compensation: $143,582
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- Other: $5,025
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Official website here: www.magnumfoundation.org
Where can I find the form 990 for Magnum Cultural Foundation?
Magnum Cultural Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.magnumfoundation.org
Learn more at the official website: www.magnumfoundation.org
Mission Statement of Magnum Cultural Foundation
The Magnum Cultural Foundation, a nonprofit organization, is dedicated to supporting, training, and mentoring the next generation of photographers. Their mission is to amplify the impact of both historical and contemporary documentary photography in the digital age. To achieve this, the foundation provides financial assistance to photographers who document issues of local, national, or global concern before they reach crisis levels, with a particular focus on subjects that have been overlooked.
In addition to financial support, Magnum Cultural Foundation also aims to increase the impact of documentary photography by connecting photographers and their work with nonprofit organizations and individuals committed to social change. They also invest in the development of the next generation of image-makers, offering awards to outstanding young photographers who are passionate about documentary work. Moreover, the foundation preserves and makes accessible significant documentary collections, ensuring that these valuable resources continue to inspire and inform future generations. By fulfilling its mission, Magnum Cultural Foundation plays a vital role in shaping the future of documentary photography.
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Impact
July, 2024
Magnum Cultural Foundation's impact is significant in mentoring the next generation of photographers and influencing historical and contemporary photography. Through its programs, the foundation provides financial support to document important issues before they become crises, focuses on underrepresented subjects, connects photographers with organizations dedicated to social change, and trains young image-makers in documentary work. Additionally, the foundation works on preserving and increasing access to significant documentary collections. Based in New York, the foundation's mission is to support, train, and mentor photographers while enhancing the impact of documentary photography in today's digital age.
This information is meant to be a general summary of Magnum Cultural Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $11,292
- Program Service Revenue: $24,583
- Gross Receipts: $2,709,633
Assets and Liabilities:
- Total Assets: $5,238,755
- Total Liabilities: $120,838
- Net Assets: $5,117,917
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE INCOME
Revenue
$24,583
Organization Details
Founding Year
2007
Phone
(212) 219-1248Principal Officer
Kristen Lubben
Main Address
59 EAST 4TH STREET, NEW YORK, NY, 10003
Website
www.magnumfoundation.orgNTEE Category
Code: A40 - Arts
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