Magyar Foundation Of North America
- Assets
- $114.2k
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, VA
- Founding
- Data as of
- 12/2018
- EIN
- 47-1002151
Organization Overview
Magyar Foundation Of North America is located in Arlington, VA. Magyar Foundation Of North America is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2018, Magyar Foundation Of North America generated $2.4m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $2.4m during the year ending 12/2018. While expenses have increased by 8.0% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2018
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE HUNGARIAN CULTURE IN NORTH AMERICA AND TO ENGAGE HUNGARIAN AMERICANS IN HUNGARIAN-FOCUSED ACTIVITIES AND EVENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC RESEARCH AND PUBLICATIONS REGARDING PRESENT AND HISTORICAL HUNGARIAN-AMERICAN RELATIONS; HOSTED CONFERENCES AND RECEPTIONS REGARDING HUNGARIAN-AMERICAN HISTORY WITH NORTH AMERICA; RESEARCH REGARDING EDUCATIONAL PROGRAMS, SCHOLARSHIPS, AND CIVIC/INTERNATIONAL CULTURAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jo Anne Barnhart Director/president | OfficerTrustee | 20 | $145,835 |
Craig Engle Director | Trustee | 1 | $0 |
Charles Kilbourne Director | Trustee | 1 | $0 |
David Satterfield Treasurer | Officer | 3.5 | $0 |
Candice Greaux Secretary | Officer | 35 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Jamestown Associates Collateral/media Events | 12/30/18 | $493,000 |
Arent Fox Legal Program Services | 12/30/18 | $280,000 |
Art Please Llc Cultural Events Coordination | 12/30/18 | $238,068 |
Diversified Research Inc Research, Publications | 12/30/18 | $125,250 |
Jo Anne Barnhart Management | 12/30/18 | $145,835 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,427,799 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,427,799 |
| Total Program Service Revenue | $0 |
| Investment income | $90 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,427,889 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $145,835 |
| Compensation of current officers, directors, key employees. | $29,167 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $6,999 |
| Fees for services: Legal | $280,318 |
| Fees for services: Accounting | $79,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $78,100 |
| Advertising and promotion | $0 |
| Office expenses | $124 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $550 |
| Travel | $49,239 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,160,552 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,808 |
| All other expenses | $1,699 |
| Total functional expenses | $2,376,860 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,169 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $114,169 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Unrestricted restricted net Assets | $114,169 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $114,169 |