Hungary Initiatives Foundation Inc

Analysis

Hungary Initiatives Foundation Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in July 2014, 12 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hungary Initiatives Foundation Inc reported income of $606k and spending of $992k, spending 164% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.7m to $606k (-65%), an average of -23% a year. The sharpest change came in the year to December 2020, when income dropped by 66%. 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, Hungary Initiatives Foundation Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 46th percentile within DC. Charities of a similar size with the same main cause include Rhode Island Black Heritage Society ($606k), Denton Community Theatre Inc ($606k) and Fab Lab Tulsa Inc ($606k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 23% of the total. Compensation of current officers, directors and key employees was $90k (9.0% of expenses). Other salaries and wages came to $102k. At year end it held assets of $20.0m against liabilities of $102k, net assets of $19.9m. It reported 2 employees.

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.