Hungarian Society of Massachusetts Inc

Analysis

Hungarian Society of Massachusetts Inc is a registered charity in United States, based in Belmont, MA. It received its IRS tax-exemption ruling in March 2012, 14 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 publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hungarian Society of Massachusetts Inc reported income of $89k and spending of $89k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $60k to $89k (+48%), an average of +48% a year. The sharpest change came in the year to December 2023, when income rose by 48%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Hungarian Society of Massachusetts Inc sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 34th percentile, and in the 41st percentile within MA. Charities of a similar size with the same main cause include Indian Fine Arts Academy of Sandiego ($89k), The Seldoms NFP ($89k) and Coyaba Dance Theater Inc ($89k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 4.4% and program service revenue 65% of the total. At year end it held assets of $151k against liabilities of $0, net assets of $151k.