Hungarian American Enterprise Scholarship Fund
Hungarian American Enterprise Scholarship Fund's revenue has collapsed to $1, with assets declining over 80% since 2011.
EIN: 200490204 · South Portland, ME · NTEE: B82 · Updated: 2026-03-28
Is Hungarian American Enterprise Scholarship Fund Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hungarian American Enterprise Scholarship Fund
Hungarian American Enterprise Scholarship Fund (EIN: 200490204) is a nonprofit organization based in South Portland, ME, classified under NTEE code B82. The organization reported total revenue of $1 and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hungarian American Enterprise Scholarship Fund's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hungarian American Enterprise Scholarship Fund with a Mission Score of 10 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 100%
- programs: 0%
- fundraising: 0%
According to IRS 990 filings, Hungarian American Enterprise Scholarship Fund allocates its expenses as follows: admin: 100%, programs: 0%, fundraising: 0%.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% across all available filings, indicating that officers are not receiving salaries from the organization. This is a positive aspect regarding resource allocation, especially given the organization's dire financial state.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Hungarian American Enterprise Scholarship Fund's IRS 990 filings:
- Revenue has plummeted to $1 in the latest period, indicating a near-complete cessation of income.
- Consistent and significant deficit spending, with expenses far exceeding revenue for many years.
- Assets have declined by over 80% from $8.4 million in 2011 to $1.3 million currently, suggesting asset depletion.
- Lack of clear program spending in recent years, with expenses likely administrative or related to asset management.
- Unsustainable financial model, relying on asset drawdown to cover minimal expenses.
Strengths
The following positive indicators were identified for Hungarian American Enterprise Scholarship Fund:
- Zero officer compensation reported across all filings, indicating no personal financial benefit to leadership.
- Consistent filing of IRS 990 forms, maintaining transparency in reporting, despite financial challenges.
Frequently Asked Questions about Hungarian American Enterprise Scholarship Fund
Is Hungarian American Enterprise Scholarship Fund a legitimate charity?
Based on AI analysis of IRS 990 filings, Hungarian American Enterprise Scholarship Fund (EIN: 200490204) significant concerns. Mission Score: 10/100. 5 red flags identified, 2 strengths noted.
How does Hungarian American Enterprise Scholarship Fund spend its money?
Detailed spending breakdown data is not yet available for Hungarian American Enterprise Scholarship Fund. Check back for updated IRS 990 analysis.
Are donations to Hungarian American Enterprise Scholarship Fund tax-deductible?
Hungarian American Enterprise Scholarship Fund is registered as a tax-exempt nonprofit (EIN: 200490204). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is the Hungarian American Enterprise Scholarship Fund still actively pursuing its mission?
Given the drastic reduction in revenue to $1 and minimal expenses, it is highly questionable whether the organization is still actively pursuing its mission or if it is in a wind-down phase. The financial data suggests very limited, if any, program activity.
What is the source of the organization's remaining assets?
The organization's assets have decreased from $8.4 million in 2011 to $1.3 million currently. The source of the remaining assets is not detailed in the provided data, but they likely represent the remnants of past endowments or investments that have been drawn down over time to cover expenses.
Why has revenue declined so dramatically?
The provided data does not specify the reasons for the dramatic decline in revenue from over $3 million to $1. This could be due to the cessation of major grants, a change in funding model, or a decision to cease operations.
How are the current expenses being covered with only $1 in revenue?
With only $1 in reported revenue, the organization's expenses (e.g., $7,909 in 2023) are being covered by drawing down its existing assets. This is an unsustainable financial model.
Filing History
IRS 990 filing history for Hungarian American Enterprise Scholarship Fund showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), Hungarian American Enterprise Scholarship Fund's revenue has declined by 100%, moving from $3.2M to $29. Total assets decreased by 87.1% over the same period, from $8.4M to $1.1M. Total functional expenses fell by 99.6%, from $2.2M to $8K. In its most recent filing year (2023), Hungarian American Enterprise Scholarship Fund reported a deficit of $8K, with expenses exceeding revenue. The organization holds $9K in liabilities against $1.1M in assets (debt-to-asset ratio: 0.8%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $29 | $8K | $1.1M | $9K | — | — |
| 2022 | $15 | $6K | $1.1M | $6K | — | View 990 |
| 2021 | $2 | $2K | $1.9M | $4K | — | View 990 |
| 2020 | $19 | $12K | $1.9M | $10K | — | — |
| 2019 | $30K | $93K | $1.9M | $35K | — | View 990 |
| 2015 | $68K | $779K | $4.1M | $456K | — | View 990 |
| 2014 | $119K | $977K | $5.0M | $647K | — | View 990 |
| 2013 | $249K | $1.6M | $6.0M | $751K | — | View 990 |
| 2012 | $280K | $1.1M | $7.3M | $424K | — | View 990 |
| 2011 | $3.2M | $2.2M | $8.4M | $503K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $29, expenses of $8K, and assets of $1.1M (revenue +93.3% year-over-year).
- 2022: Revenue of $15, expenses of $6K, and assets of $1.1M (revenue +650.0% year-over-year).
- 2021: Revenue of $2, expenses of $2K, and assets of $1.9M (revenue -89.5% year-over-year).
- 2020: Revenue of $19, expenses of $12K, and assets of $1.9M (revenue -99.9% year-over-year).
- 2019: Revenue of $30K, expenses of $93K, and assets of $1.9M (revenue -55.7% year-over-year).
- 2015: Revenue of $68K, expenses of $779K, and assets of $4.1M (revenue -42.8% year-over-year).
- 2014: Revenue of $119K, expenses of $977K, and assets of $5.0M (revenue -52.4% year-over-year).
- 2013: Revenue of $249K, expenses of $1.6M, and assets of $6.0M (revenue -11.1% year-over-year).
- 2012: Revenue of $280K, expenses of $1.1M, and assets of $7.3M (revenue -91.2% year-over-year).
- 2011: Revenue of $3.2M, expenses of $2.2M, and assets of $8.4M.
Data Sources and Methodology
This transparency report for Hungarian American Enterprise Scholarship Fund is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.