International Hug Foundation

Analysis

International Hug Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 2006, 20 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, International Hug Foundation reported income of $138k and spending of $159k, spending 116% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $130k to $138k (+5.4%), an average of +5.4% a year. Over the whole period it spent 99% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, International Hug Foundation sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 43rd percentile within NY. Charities of a similar size with the same main cause include Bridge Rockford Alliance ($137k), Linden Section 4b Economic Development Corporation ($138k) and Tourism Recreation Investment Partnership for DC Foundation ($137k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 111% of the total. At year end it held assets of $198k against liabilities of $475, net assets of $198k.