The Executive Agreement between the Government of the United States of America and the Government of the Republic of Hungary has established the authority of the Commission to conduct a program of educational and cultural exchange between the two countries using funds made available by both governments; to organize regular open, binationally planned and executed competitions for scholarships; to provide educational advisory services; and to serve as a focal point for the organization of activities of an alumni association.

The Commission's Board is a binational policymaking and supervisory body which consists of ten members, five of whom are citizens of the United States and five of whom are citizens of Hungary. The Board members are appointed by the U.S. Ambassador to Budapest and the Hungarian Minister of Culture and Public Education, respectively. The governments of the U.S. and Hungary are represented by two members each; the others are university professors and representatives of the private sector.

The Board meets several times a year to discuss policy and programs. Although the decisions of the Board are subject to the approval of the funding governments, the Commission enjoys a high degree of autonomy. As it operates in the sphere of cultural diplomacy, there is no political direction to its activities. Thus, excellence and integrity, always associated with the Fulbright Program, are ensured.

The Commission's mission is:

• to offer qualified Hungarian and American citizens the opportunity to exchange significant knowledge and educational experience in the sciences and arts, especially in fields relevant to the two countries. Participants thereby contribute to a deeper understanding of U.S.-Hungarian relations and broaden the means by which the two societies can further their understanding of each other's cultures.
• to stimulate the expansion of mutually successful exchanges between Hungary and the United States. The Commission's decisions are based on considerations of academic, artistic, educational, professional and individual merit.