Hungary Initiatives Foundation Inc
- Assets
- $20.0m
- Revenue
- $605.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Washington, DC
- Founding
- 07/2014
- Data as of
- 12/2023
- EIN
- 46-1789616
Organization Overview
Hungary Initiatives Foundation Inc is located in Washington, DC. The organization was established in 2014. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2023, Hungary Initiatives Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hungary Initiatives Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Hungary Initiatives Foundation Inc generated $605.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $991.7k during the year ending 12/2023. While expenses have increased by 2.6% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Hungary Initiatives Foundation Inc has awarded 79 individual grants totaling $3,006,428. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION IS TO BUILD LASTING VALUE BY REVIVING AND STRENGTHENING THE BONDS BETWEEN THE UNITED STATES AND HUNGARY. WE PROMOTE COOPERATION AND UNDERSTANDING BETWEEN OUR GREAT NATIONS, THEREBY FOSTERING DEMOCRACY, FREEDOM, HUMAN RIGHTS, AND HUMAN DIGNITY, THE DEAREST VALUES OF OUR HISTORY AND OUR PEOPLES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LEADERSHIP TRAINING: TO PROVIDE THE NEXT GENERATION OF HUNGARIAN LEADERS WITH PROFESSIONAL NETWORKING, INTERNSHIP, AND FELLOWSHIP OPPORTUNITIES IN THE UNITED STATES OF AMERICA.
ALUMNI PROGRAMS
EDUCATION AND RESEARCH: TO PROMOTE HUNGARIAN-U.S. RELATIONS BY GENERATING INTERNSHIPS, SCHOLARSHIPS, AND ACADEMIC EXCHANGE PROGRAMS.
CULTURE AND ART: TO PRESERVE AND PROMOTE AND APPRECIATION OF HUNGARIAN CULTURE, ART, AND SCIENCE IN THE U.S. BY RAISING THE PUBLIC AWARENESS OF HUNGARIAN HISTORY, ARTS, CULTURE, AND ACADEMIC ACHIEVEMENTS ACROSS THE UNITED STATES OF AMERICA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anna Smith Lacey Executive Di | Officer | 20 | $89,750 |
Ambassador April H Foley Chair | OfficerTrustee | 1 | $0 |
Hon Tamas Fellegi Trustee | Trustee | 1 | $0 |
Hon George Pataki Trustee | Trustee | 1 | $0 |
Edith K Lauer Trustee | Trustee | 1 | $0 |
Amb Kurt Volker Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $139,486 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $139,486 |
| Total Program Service Revenue | $0 |
| Investment income | $466,352 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $605,838 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $312,865 |
| Grants and other assistance to domestic individuals. | $90,228 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $89,750 |
| Compensation of current officers, directors, key employees. | $34,923 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $102,100 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $665 |
| Payroll taxes | $12,540 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $250 |
| Fees for services: Accounting | $43,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $45,763 |
| Fees for services: Other | $2,450 |
| Advertising and promotion | $10,473 |
| Office expenses | $18,109 |
| Information technology | $9,740 |
| Royalties | $0 |
| Occupancy | $26,628 |
| Travel | $25,407 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,536 |
| Insurance | $8,352 |
| All other expenses | $0 |
| Total functional expenses | $991,740 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,135 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,513 |
| Net Land, buildings, and equipment | $240 |
| Investments—publicly traded securities | $19,967,082 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,658 |
| Total assets | $19,985,628 |
| Accounts payable and accrued expenses | $101,774 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $101,774 |
| Net assets without donor restrictions | $19,747,118 |
| Net assets with donor restrictions | $136,736 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $19,985,628 |
Grants Awarded
Over the last fiscal year, Hungary Initiatives Foundation Inc has awarded $312,865 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
THE FUND FOR AMERICAN STUDIES PURPOSE: LEADERSHIP TRAINING | $69,670 |
HUDSON INSTITUTE PURPOSE: EDUCATION & RESEARCH | $122,245 |
CENTER FOR IMMIGRATION STUDIES PURPOSE: EDUCATION & RESEARCH | $120,950 |