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Irving Penn Foundation is a private corporation based in NEW YORK, NY. The foundation received its IRS ruling in 2005. The principal officer is % Citrin Cooperman. It holds total assets of $152.6M. Annual income is reported at $4.6M. ARCHIVE OF WORKS (SEE ATTACHMENT D). According to available records, Irving Penn Foundation has made 3 grants totaling $3.7M, with a median grant of $1.2M. Annual giving has decreased from $2.5M in 2022 to $1.2M in 2023. Individual grants have ranged from $1.2M to $1.2M, with an average award of $1.2M. Grant recipients are concentrated in New York. Contributions to this foundation are tax-deductible.
EXHIBITION AND COLLECTION SUPPORT:THE FOUNDATION LENDS WORK BY IRVING PENN (AS WELL AS RELATED HISTORICAL ITEMS) TO MUSEUMS AND OTHER ARTS INSTITUTIONS FOR EXHIBITIONS THROUGHOUT THE WORLD, GRANTS RIGHTS TO THESE INSTITUTIONS FOR THE REPRODUCTION OF IRVING PENN IMAGES IN EXHIBITION CATALOGUES AND IN RELATED OTHER MEDIUMS, AND PROVIDES GENERAL GUIDANCE TO INSTITUTIONS CONCERNING EXHIBITIONS INVOLVING WORKS BY IRVING PENN. ALONG WITH PROVIDING ONGOING COLLECTION AND CURATORIAL SUPPORT FOR PENN-RELATED EXHIBITIONS AND PROGRAMMING, THE FOUNDATION CONTRIBUTED ITS SUPPORT TO INSTITUTIONS AROUND THE WORLD IN 2023, INCLUDING TO THE PEREZ ART MUSEUM IN MIAMI, FL, LES FRANCISCAINES CULTURAL CENTER IN NORMANDY, FRANCE, AND THE HIGH MUSEUM OF ART IN ATLANTA, GA.
Expenses: $365K
DONATION OF WORKS: THE FOUNDATION DONATES WORKS BY IRVING PENN TO MUSEUMS AND OTHER ARTS INSTITUTIONS FOR THEIR PERMANENT COLLECTIONS. IN 2023, THE FOUNDATION DONATED IRVING PENN WORKS TO THE METROPOLITAN MUSEUM OF ART IN NEW YORK (IN CONNECTION WITH THE IRVING PENN: CENTENNIAL EXHIBITION).
Expenses: $269K
ARCHIVE OF WORKS: THE FOUNDATION MAINTAINS AN ARCHIVE OF THE WORKS OF IRVING PENN FOR WHICH IT DESIGNED AND BUILT A STORAGE SYSTEM TO PROVIDE MAXIMUM PROTECTION FOR THE ARCHIVE AND PERMIT OPTIMUM USE OF THE ARCHIVE BY SCHOLARS AND OTHER AUTHORIZED USERS. THE FOUNDATION CONTINUES TO EXAMINE MEASURES (INCLUDING NEW FACILITIES) THAT WOULD FURTHER SUPPORT ITS ARCHIVAL HOLDINGS AND ACCOMMODATE A STUDY CENTER FOR VISITING SCHOLARS PERFORMING RESEARCH ON IRVING PENN. ADDITIONALLY, THE FOUNDATION CONTINUES TO INVESTIGATE DIGITAL CATALOGUING PROCEDURES THAT WILL EXPAND PUBLIC ACCESS TO ARCHIVE HOLDINGS.
Expenses: $248K
PUBLICATIONS:THE FOUNDATION PUBLISHES BOOKS ILLUMINATING THE LIFE AND WORK OF IRVING PENN AND SERVES AS A RESOURCE FOR PUBLISHERS OF PENN-RELATED PUBLICATIONS. ADDITIONALLY, THE FOUNDATION SUPPORTS INDEPENDENT JOURNALS AND ACADEMIC PUBLICATIONS THROUGH ITS REGULAR PRACTICE OF GRANTING ROYALTY-FREE RIGHTS FOR THE REPRODUCTION OF IRVING PENN IMAGES. DIGITAL PRESENCE: IN 2023, THE FOUNDATION UPDATED ITS EDUCATIONAL AND INFORMATIVE WEBSITE (IRVINGPENN.ORG), AS WELL AS EXPLORED NEW OPPORTUNITIES USING SOCIAL MEDIA PLATFORMS, IN ORDER TO PROMOTE PUBLIC AWARENESS OF IRVING PENN'S CONTRIBUTIONS AND TO ENSURE THAT IRVING PENN'S WORK CONTINUES TO INSPIRE CREATIVE MINDS AND INFORM THE ART OF PHOTOGRAPHY. THROUGH CONTINUOUS REFINEMENTS TO THE WEBSITE AND VIA UPDATES TO SOCIAL MEDIA NETWORKS, THE FOUNDATION IS COMMITTED TO EDUCATING THE PUBLIC BY MAKING IMAGES OF IRVING PENN'S WORK AND RELIABLE INFORMATION ABOUT HIS WORK AVAILABLE TO SCHOLARS, STUDENTS, ARTISTS & OTHER AUDIENCES AROUND WORLD.
ARCHIVE OF WORKS (SEE ATTACHMENT D). Based on available records, the foundation has funded 3 grants. Its grantmaking reaches organizations primarily in NY.
Irving Penn Foundation has distributed a total of $3.7M across 3 grants. The median grant size is $1.2M, with an average of $1.2M. Individual grants have ranged from $1.2M to $1.2M.
Irving Penn Foundation typically selects its grantees rather than accepting unsolicited proposals.
Irving Penn Foundation is headquartered in NEW YORK, NY.
| Name | Title | Compensation | Benefits | Total |
|---|---|---|---|---|
| Tom Penn | DIRECTOR, PRESIDENT & CHAIR | $283K | $32K | $316K |
| Lennart Durehed | DIRECTOR | $0 | $0 | $0 |
| Arnie Herrmann | DIRECTOR, SECRETARY & TREASURER | $0 | $0 | $0 |
| Elizabeth Broun | DIRECTOR | $0 | $0 | $0 |
Total Giving
$2.8M
Total Assets
$153.8M
Fair Market Value
$153.9M
Net Worth
$153.8M
Grants Paid
$1.2M
Contributions
$0
Net Investment Income
$500K
Distribution Amount
$0
Total: $3M
Total Grants
3
Total Giving
$3.7M
Average Grant
$1.2M
Median Grant
$1.2M
Unique Recipients
1
Most Common Grant
$1.2M
of 2023 grantees were first-time recipients
| Recipient | Location | Amount | Year |
|---|---|---|---|
| Metropolitan Museum Of ArtTO PROMOTE APPRECIATION AND UNDERSTANDING OF FINE ARTS (SEE ATTACHMENT) | New York, NY | $1.2M | 2023 |
Expenses: $327K
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