The Rosztoczy Foundation has been classified by the Internal Revenue Service as a private foundation, exempt under section 501(c)(3) of the Internal Revenue Code. Donations to the Foundation are tax deductible to the extent that no goods or services are received in return. Funds from the Foundation are used solely for charitable purposes. In addition, the Rosztoczy Foundation has been approved by the Internal Revenue Service to award scholarships for study or research at American institutions. Thus, the Rosztoczy Foundation Scholarship Program was created.