First Hungarian Literary Society Incorporated

Analysis

First Hungarian Literary Society Incorporated is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in May 1996, 30 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a private non-operating foundation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, First Hungarian Literary Society Incorporated reported income of $173k and spending of $180k, spending 104% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $145k to $173k (+19%), an average of +4.5% a year. The sharpest change came in the year to December 2023, when income rose by 794%. Over the whole period it spent 133% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, First Hungarian Literary Society Incorporated sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 48th percentile within NY. Charities of a similar size with the same main cause include Alfonsina Inc ($173k), Alpharetta Symphony Orchestra Inc ($173k) and New Jersey Association for Behavior Analysis Inc ($173k).

At year end it held assets of $12.1m against liabilities of $2,000, net assets of $12.1m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.