Putnam Foundation FY2024 filing

San Diego, CA · Public charity (501(c)(3)) · Arts & Culture

✓ Tax-deductible Latest data FY2024
Revenue
$1.9M
▼ -85% vs prior year
Spent
$2.6M
To programs
88%
Net assets
$56.6M
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Form 990 for the fiscal year ending March 2024 (IRS tax year 2023).

Figures match the IRS filing checked 8/31/26 · see original: IRS

Status and standing

Tax-deductible?
Yes
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
6 funders, incl. The San Diego Foundation
$341K in the latest grant year.
Spent on programs?
88% to programs
Form 990 Part IX, latest filing.
Size and trend
$1–10M
↓ -85% vs prior year
Legal name (IRS)Hdr · item CPutnam Foundation
EINHdr · item D95-6037070
Exempt statusHdr · item I501(c)(3) · active
Ruling yearIRS BMFJun 1952
Latest filingForm 990FY2025 · Form 990
Principal addressHdr · item CSan Diego, CA
NTEE classificationIRS BMFArts & Culture (A510)
WebsiteHdr · item Jwww.timkenmuseum.org

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.88 Management & general $0.09 Fundraising $0.04
Program services88%$2.3M
Management & general9%$236K
Fundraising4%$95K
Total functional expensesLn 25$2.6M

Financial health

Revenue & expenses by yearFY2021–FY2025
Revenue
$1.9M
FY2024▼ -85%
Expenses
$2.6M
FY2024▲ +6%
Program efficiency
88%
of spending reaches programs
Operating runway
70.6mo
months of highly liquid reserves at operating expense rate
Surplus margin
-37%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$57.2M
FY2024▲ +2%
Total liabilities
$535K
FY2024▼ -14%
Revenue less expensesPt I · Ln 19−$717K
Total assetsPt X · Ln 16$57.2M
Program-expense ratioPt IX · col B88%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 415

Balance Sheet

Part X · end of year
CashLn 1$2.4M
Total assetsLn 16$57.2M
Total liabilitiesLn 26$535K
Total net assetsLn 32$56.6M
Months of cash on handcomputed11.0

Statement of Revenue

Part VIII
Contributions & grants$1.4M · 71%
Investment income$425K · 22%
Other revenue$144K · 7%
Contributions & grants71%$1.4M
Investment income22%$425K
Other revenue7%$144K
— government grantsLn 1e$394K
Total revenueLn 12$1.9M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $15.0M · Operating expenses (Pt IX) $2.6M · Less non-cash grants $101K · Cash operating expenses/yr $2.5M
70.6 months
Where the money goes
Program services
Program services $2.3M · Total expenses $2.6M
88%
Management & General
Management & general $236K · Total expenses $2.6M
9%
Fundraising
Fundraising $95K · Total expenses $2.6M
4%
Cost to raise $1
Fundraising expense (2-yr avg) $85K · Solicited contributions (2-yr avg) $5.9M
$0.01 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.4M · Total revenue $1.9M
71%
Government reliance
Government grants $394K · Total revenue $1.9M
20%
Earned-income share
Program service revenue $0 · Total revenue $1.9M
0%
Investment reliance
Investment income $425K · Total revenue $1.9M
+22%
Program self-sufficiency
Program service revenue $0 · Total expenses $2.6M
0%
Growth & trend
Revenue growth (YoY)
This year $1.9M · Prior year $12.5M
-85%
Net-asset trend (YoY)
End of year $56.6M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.9M · Expenses $2.6M
-37%
Liabilities-to-Assets
Total liabilities — · Total assets $57.2M
—
Net-asset ratio
Net assets $56.6M · Total assets $57.2M
99%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $12.6M · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $57.2M
22%
People & payroll
Highest Reported Total Compensation
Individual Megan Pogue · Reported title Executive Dir. · Highest reported compensation $218K · Total expenses $2.6M
8%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $1.3M · Total expenses $2.6M
48%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 88%——
Overhead ratio 9%——
Fundraising cost ratio 7%——
Revenue growth -85%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 0%——
Fundraising fee ratio 0%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Dir.
$217,729Pt VII · Sec A
Dir of Cur Affairs
$102,906Pt VII · Sec A
$95,303Pt VII · Sec A
$91,014Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Megan Pogue’s $226K as Executive Dir. is at the 90th percentile of top reported officer pay among 3925 $1–10M arts & culture nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2021
Megan Pogue$225,984$217,729$214,598$201,751
Derrick Cartwright$167,095$102,906——
Holly Martin-Bollard$104,065$95,303——
Eric Bockstahler—$91,014——

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Putnam Foundation executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b15
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Educates the public in fine arts by operating an art museum.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

2 program services account for $2.3M of program spending, described in the organization's own filed words · FY2023.
01

The Putnam Foundation (the Foundation) is a non-profit organization whose primary activity is the education of the public in fine arts through the operation of the Timken Museum of Art (the Museum) located in Balboa Park in San Diego, California, and is the only fine art museum in San Diego that does not charge admission.

$2.2Mprogram expense
02

Educational Programs

The museums educational programs, broad and varied, are offered throughout the year and are free of charge. The programs, both in the museum and out in the community include school residencies, classes at Juvenile Hall, and Balboa Naval Medical Center, school tours, teacher trainings, family art making, docent tours, art programs in…

$124Kprogram expense

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Funders

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

Filing history

YearRevenueExpensesChangeFiling
FY2025 Latest $2.7M$2.9M+41% 990 PDF
FY2024 Viewing $1.9M$2.6M-85% 990 PDF
FY2023 $12.5M$2.5M+526% 990 PDF
FY2022 Not on file
FY2021 $2.0M$1.5M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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