Dear Members,
The AmCham Foundation, after careful consideration, will conclude its operations by the end of the year. At AmCham Hungary, we would like to take this opportunity to express our deep gratitude to the Foundation for its endeavors and dedicated work, as well as to all our supporters who have been instrumental in our shared mission. Please find their press release below.
Based on the decision of the Foundation's Board of Trustees on September 26, 2024, by which it was established that due to critical decline of donations the Foundation's assets have decreased to such an extent that they are not sufficient to achieve the foundation's goals, so the Civil Code. § 3:403, paragraph (1) point b) of termination has occurred; therefore, through legal representative, the Founder requested the Capital Court to decide on the termination of the Foundation.
AmCham Foundation started its operation under the umbrella of AmCham in 1989 and continued as a separate entity since 2001. From the very first Thanksgiving Dinner through many crisis, sensitization and educational projects ACF has been committed to help children in need of social, mental, or physical support, and provided transparent and ethical charity services for donor corporations and to promote corporate social responsibility and the ethos of volunteerism in the Hungarian business culture.
Throughout the past three decades ACF, with the help of AmCham and its member companies supported more than 150 children’s institutions with 75 projects and 440 million HUF grant.
We are grateful for the positive impact we have made together with corporates and volunteers, and we do hope that the legacy of ACF will live on through the continued philanthropy of those who believe in the power of collective compassion.