[2] Founded by the photographers of the Magnum Photos collective, including board president Susan Meiselas, the organization was created as an initiative to support independent, long-form visual storytelling on social issues.
The foundation works to preserve the histories of humanistic and documentary photography, including the larger Magnum Photos community estate.
[13] The Inge Morath Award is given annually to a woman photographer under 30 years of age to support the completion of a long-term documentary photography project.
Through production grants, mentorship, and project development assistance, the Magnum Foundation Fund fosters diversity and creativity in documentary photography and related practices.
[2] The Magnum Foundation Fund is by nomination only – typically educators, editors, curators, and critics with expertise in specific areas around the globe – so as to try to ensure a geographically diverse pool of proposals.
Using New York City as a cultural resource, the program provides space for interdisciplinary experimentation and cross-cultural, critical discourse around photography and social justice.
[26] The program has twice yearly laboratories, held at CUNY's Graduate School of Journalism in New York City that include technical trainings, lectures, and discussions exploring photography as a medium for social engagement.