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Nonprofiteer
← HUNGARY INITIATIVES FOUNDATION INC

Form 990 for tax year 2022

Filed by HUNGARY INITIATIVES FOUNDATION INC.

Totals

Total revenue
$462,418
Total expenses
$1,177,639
Contributions and grants received
$53,913
Grants paid
$781,099
Program service revenue
$0
Investment income
$408,505
Other revenue
$0
Total assets, end of year
$17,609,861
Total liabilities, end of year
$118,327
Net assets or fund balances, end of year
$17,491,534
Program services expenses (Part IX)
$967,436
Management and general expenses
$210,203
Fundraising expenses
$0
Program service expenses (Part III)
$967,436

Program services were 82.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $53,913

  • 3 · Investment income

    total $408,505 · excluded $408,505

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $200,000 · program services $200,000

  • 2 · Grants to domestic individuals

    total $448,724 · program services $448,724

  • 3 · Grants to foreign organizations and individuals

    total $132,375 · program services $132,375

  • 5 · Compensation of officers, directors and key employees

    total $85,500 · program services $39,535 · management and general $45,965

  • 7 · Other salaries and wages

    total $42,635 · program services $19,714 · management and general $22,921

  • 10 · Payroll taxes

    total $11,075 · program services $5,121 · management and general $5,954

  • 11b · Fees: legal

    total $330 · management and general $330

  • 11c · Fees: accounting

    total $43,111 · program services $12,960 · management and general $30,151

  • 11f · Fees: investment management

    total $34,074 · management and general $34,074

  • 11g · Fees: other

    total $28,105 · program services $26,000 · management and general $2,105

  • 12 · Advertising and promotion

    total $4,062 · program services $628 · management and general $3,434

  • 13 · Office expenses

    total $23,512 · program services $14,607 · management and general $8,905

  • 14 · Information technology

    total $6,970 · program services $80 · management and general $6,890

  • 16 · Occupancy

    total $24,857 · program services $7,433 · management and general $17,424

  • 17 · Travel

    total $33,567 · program services $17,822 · management and general $15,745

  • 22 · Depreciation, depletion and amortization

    total $6,280 · management and general $6,280

  • 23 · Insurance

    total $9,160 · management and general $9,160

  • 24a · Other expenses: PROGRAM EXPENSES

    total $28,369 · program services $28,369

  • 24b · Other expenses: FIELD TRIPS

    total $14,064 · program services $14,064

  • 24c · Other expenses: BANKING FEES

    total $859 · management and general $859

  • 24d · Other expenses: MISCELLANEOUS EXPENSES

    total $10 · program services $4 · management and general $6

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $50,178 · end of year $109,054

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,904 · end of year $23,743

  • 10a · Land, buildings and equipment: cost or other basis

    $63,886

  • 10b · Land, buildings and equipment: accumulated depreciation

    $60,222

  • 10c · Land, buildings and equipment, net

    beginning of year $9,944 · end of year $3,664

  • 11 · Investments: publicly traded securities

    beginning of year $22,447,406 · end of year $17,469,742

  • 15 · Other assets

    beginning of year $3,600 · end of year $3,658

  • 17 · Accounts payable and accrued expenses

    beginning of year $119,797 · end of year $118,327

  • 27 · Net assets without donor restrictions

    beginning of year $22,399,235 · end of year $17,491,534

Mission and programs · 2022

Mission

TO STRENGTHEN THE UNDERSTANDING AND COOPERATION BETWEEN HUNGARY AND THE UNITED STATES OF AMERICA.

Activities or mission (Part I)

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.

  • LEADERSHIP TRAINING: TO PROVIDE THE NEXT GENERATION OF HUNGARIAN LEADERS WITH PROFESSIONAL NETWORKING, INTERNSHIP, AND FELLOWSHIP OPPORTUNITIES IN THE UNITED STATES OF AMERICA.

    Expenses $176,743 · Grants $140,500

  • EDUCATION AND RESEARCH: TO PROMOTE HUNGARIAN-U.S. RELATIONS BY GENERATING INTERNSHIPS, SCHOLARSHIPS, AND ACADEMIC EXCHANGE PROGRAMS.

    Expenses $82,000 · Grants $82,000

  • 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.

    Expenses $110,875

  • ALUMNI PROGRAMS

    Expenses $597,818 · Grants $558,599

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Ambassador April H Foley

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Hon Tamas Fellegi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Hon George Pataki

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Edith K Lauer

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Amb Kurt Volker

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Janos Martonyi

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Anna Smith Lacey

    EXECUTIVE DI

    Total calculated
    $85,500
    From this org
    $85,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2022
Filed
14 May 2023
IRS schema version
2022v5.0
Source object
202341929349301804

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