FOUNDATION FOR THE EXHIBITION OF PHOTOGRAPHY

EIN: 680544634 501(c)(3) Arts, Culture & Humanities

MINNEAPOLIS, MN

Total Revenue
$1,309,367
Total Expenses
$1,180,533
Total Assets
$810,176
Net Assets
$-760,404
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
MN
Phone
6126707678
Tax Period
2024-09-01 to 2025-08-31

FOUNDATION FOR THE EXHIBITION OF PHOTOGRAPHY, founded in 2003, is a community nonprofit in the Arts, Culture & Humanities sector that reported $1.3M in total revenue in fiscal year 2024. Revenue surged 77% from the prior year, signaling strong growth momentum. Expenses of $1.2M left a modest 10% surplus.

Mission

THE FOUNDATION (FEP)'S MISSION IS TO PRODUCE UNIQUE AND SIGNIFICANT MUSEUM-QUALITY EXHIBITIONS OF PHOTOGRAPHY, AND TO CIRCULATE THESE EXHIBITIONS AROUND THE WORLD. FEP ALSO PROVIDES COMPLEMENTARY EDUCATIONAL AND PUBLISHING PROGRAMS TO INCREASE PUBLIC AWARENESSOF THE PROFOUND INFLUENCE PHOTOGRAPHY HAS ON LIVES.

Program Service Accomplishments

Program 1
Expenses: $566,292 Revenue: $867,090

SEE STATEMENT OF FUNCTIONAL EXPENSES ON PAGE 4. FEP HAS ONE PROGRAM SERVICE, WHICH IS PROVIDING MUSEUM QUALITY EXHIBITIONS OF PHOTOGRAPHY. DURING THE FISCAL YEAR, FEP CONTINUED TO OFFER UNIQUE MUSEUM...

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SEE STATEMENT OF FUNCTIONAL EXPENSES ON PAGE 4. FEP HAS ONE PROGRAM SERVICE, WHICH IS PROVIDING MUSEUM QUALITY EXHIBITIONS OF PHOTOGRAPHY. DURING THE FISCAL YEAR, FEP CONTINUED TO OFFER UNIQUE MUSEUM QUALITY EXHIBITIONS AROUND THE WORLD.

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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 (2024)

Revenue Breakdown

Contributions & Grants $92,834
Program Service Revenue $867,090
Investment Income $0
Other Revenue $349,443
TOTAL REVENUE $1,309,367

Expense Breakdown

Grants Paid $0
Salaries & Benefits $315,410
Fundraising Expenses $0
Program Expenses $566,292
Other Expenses $865,123
TOTAL EXPENSES $1,180,533

Year-over-Year Comparison

2024 2023 Change
Revenue $1,309,367 $738,164 +0.8%
Expenses $1,180,533 $745,326 +0.6%
Net Income $128,834 $-7,162 -19.0%
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

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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
4
Independent Members
4
Employees
1
Volunteers
3

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
3
$168,000
Total Directors
4
$168,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TODD BRANDOW EXECUTIVE DIRECTOR 40.00
Officer Director
$168,000 $0 $168,000
STEVE ROONEY TREASURER 1.00
Officer Director
$0 $0 $0
JON-PAUL BERNARD DIRECTOR 1.00
Director
$0 $0 $0
ARTHUR OLLMAN BOARD CHAIRMAN 1.00
Officer 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
2025 $1,309,367 $1,180,533 $810,176 $128,834
2024 $738,164 $745,326 $901,351 $-7,162
2023 $927,528 $1,034,687 $1,027,107 $-107,159
2022 $770,068 $905,159 $1,140,765 $-135,091
2021 $422,523 $700,395 $749,878 $-277,872
2020 $758,183 $982,233 $782,657 $-224,050
2019 $1,248,219 $1,270,584 $1,025,296 $-22,365
2018 $516,434 $570,717 $853,252 $-54,283
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