Reka Darida Foundation
- Assets
- $11.0m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- Data as of
- 12/2023
- EIN
- 85-2568150
Organization Overview
Reka Darida Foundation is located in New York, NY. According to its NTEE Classification (A24) the organization is classified as: Folk Arts, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Reka Darida Foundation 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, Reka Darida Foundation generated $2.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $1.3m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION SUPPORTS HUNGARIAN ART AND THE AMERICA-HUNGARIAN COMMUNITY AND CULTURAL LIFE BY CONDUCTING CLASSES, WORKSHOPS, EXHIBITIONS, AND OTHER CULTURAL EVENTS AND COMMUNITY PROGRAMS. THE FOUNDATION ACTIVITIES ALSO INCLUDE GRANTS AND SCHOLARSHIPS TO ARTISTS, IN FURTHERANCE OF PROMOTING HUNGARIAN ART. DURING 2021, THE FOUNDATION PURCHASED A BUILDING IN NEW YORK CITY TO FURTHER SUPPORT THESE PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward Schmidt Dir, Pres, Sec & Treasurer | 1 | $0 | |
Monika Krausz Executive Director & Asst Treas. | 40 | $202,709 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Joe Serrins Studio | 12/30/23 | $186,645 |
Base Design Group Pty Ltd | 12/30/23 | $88,709 |
Ces Engineering Llc | 12/30/23 | $55,730 |
Carey & Co | 12/30/23 | $50,719 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $2,003,429 |
| Interest on Savings | $64,450 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,241 |
| Total Revenue | $2,070,120 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $202,709 |
| Other employee salaries and wages | $185,990 |
| Pension plans, employee benefits | $86,882 |
| Interest | $0 |
| Taxes | $896 |
| Depreciation | $187,446 |
| Occupancy | $16,691 |
| Travel, conferences, and meetings | $119,392 |
| Printing and publications | $10,633 |
| Other expenses | $152,523 |
| Total operating and administrative expenses | $1,274,812 |
| Contributions, gifts, grants paid | $56,133 |
| Total expenses and disbursements | $1,330,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,902 |
| Savings and temporary cash investments | $652,702 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,732 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $10,292,547 |
| Other assets | $1,305 |
| Total assets | $10,982,188 |
| Accounts payable and accrued expenses | $65,447 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $65,447 |
Grants Awarded
Over the last fiscal year, Reka Darida Foundation has awarded $56,133 in support to 8 organizations.
| Grant Recipient | Amount |
|---|---|
CARPATHIAN FOUNDATION - HUNGARY PURPOSE: GRANTS AND SCHOLARSHIPS TO ARTISTS, IN FURTHERANCE OF PROMOTING HUNGARIAN FOLK ART | $20,659 |
HUNGARIAN PARENT TEACHER ASSOCIATION HPTA PURPOSE: GRANTS TO COVER RENT | $15,000 |
HUNOR KOSBOR PURPOSE: VIOLIN GRANT | $11,000 |
NEW YORK PHILHARMONIC PURPOSE: TULIPAN DONATION TO COVER CIMBALOM TRANSPORTATION FEES | $5,974 |
INTERNATIONAL KODALY SYMPOSIUM PURPOSE: INTERNATIONAL KODALY SYMPOSIUM | $2,000 |
HYESEON JIN PURPOSE: REKA DARIDA FOUNDATION EDUCATION AWARD - INTERNATIONAL LISZT COMPETITION GRANT | $700 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Reka Darida Foundation New York, NY | $10,982,188 | $2,070,120 |
Mudflat Pottery School Inc Somerville, MA | $3,747,035 | $1,347,172 |
New York Folklore Society Schenectady, NY | $95,930 | $755,484 |
Danceflurry Organization Inc Latham, NY | $370,787 | $480,990 |
Rose Valley Folk Rose Valley Rose Valley, PA | $1,157,937 | $323,428 |
Stillwood Study Center Palmyra, NY | $1,170,959 | $108,797 |
Bayberry Quilters Of Cape Cod East Dennis, MA | $113,368 | $0 |
Country Dance And Song Society Inc Montague, MA | $166,298 | $0 |
The Folk Song Society Of Greater Boston Inc Acton, MA | $28,533 | $0 |
Schuylkill County Quilters Guild Schuylkill Haven, PA | $14,083 | $0 |
Dublin Seminar For New England Folklife Inc Attleboro, MA | $43,063 | $4,250 |