MAGNUM CULTURAL FOUNDATION

EIN: 450573269 501(c)(3) Arts, Culture & Humanities

NEW YORK, NY

Total Revenue
$1,177,866
Total Expenses
$1,764,733
Total Assets
$4,693,801
Net Assets
$4,547,612
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
NY
Principal Officer
KRISTEN LUBBEN
Phone
2122191248
Tax Period
2023-01-01 to 2023-12-31

MAGNUM CULTURAL FOUNDATION, founded in 2007, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.2M in total revenue in fiscal year 2023. Revenue fell 56% from the prior year — a significant decline worth monitoring. Expenses of $1.8M exceeded revenue, resulting in a 50% operating deficit.

Mission

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

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,152,188
Program Service Revenue $0
Investment Income $3,154
Other Revenue $22,524
TOTAL REVENUE $1,177,866

Expense Breakdown

Grants Paid $323,747
Salaries & Benefits $632,185
Fundraising Expenses $286,269
Program Expenses $1,150,010
Other Expenses $707,001
TOTAL EXPENSES $1,764,733

Year-over-Year Comparison

2023 2022 Change
Revenue $1,177,866 $2,696,577 -0.6%
Expenses $1,764,733 $1,515,996 +0.2%
Net Income $-586,867 $1,180,581 -1.5%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
14
Independent Members
14
Employees
11
Volunteers
2

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✓ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
2
$154,724
Total Directors
15
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
KRISTEN LUBBEN EXECUTIVE DIRECTOR 40.00
Officer
$149,687 $5,037 $154,724
SUSAN MEISELAS PRESIDENT 7.50
Officer Director
$0 $0 $0
PAMELA CHEN DIRECTOR 0.50
Director
$0 $0 $0
DIANA COHN DIRECTOR 0.50
Director
$0 $0 $0
CLAIRE DAVIS DIRECTOR 0.75
Director
$0 $0 $0
LISA GARRISON DIRECTOR 0.50
Director
$0 $0 $0
SOHRAB HURA DIRECTOR 0.50
Director
$0 $0 $0
MARK JACKSON DIRECTOR 0.75
Director
$0 $0 $0
JONATHAN KARTT DIRECTOR 0.50
Director
$0 $0 $0
CATHERINE MUTHER DIRECTOR (RESIGNED NOVEMBER 2023) 0.50
Director
$0 $0 $0
ELLIS REED DIRECTOR 0.50
Director
$0 $0 $0
ORVILLE SCHELL DIRECTOR 0.50
Director
$0 $0 $0
NEWSHA TAVAKOLIAN DIRECTOR 0.50
Director
$0 $0 $0
CYNTHIA YOUNG-EBERSTADT DIRECTOR 0.50
Director
$0 $0 $0
ALICE SACHS ZIMET DIRECTOR 0.50
Director
$0 $0 $0
RAFAL MILACH DIRECTOR 0.50
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $1,177,866 $1,764,733 $4,693,801 $-586,867
2022 $2,696,577 $1,515,996 $5,238,755 $1,180,581
2021 $2,140,102 $1,059,905 $3,963,753 $1,080,197
2020 $1,047,172 $1,107,438 $2,814,068 $-60,266
2019 $2,170,021 $1,255,343 $2,736,440 $914,678
2018 $1,169,708 $1,309,443 $1,833,173 $-139,735
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