Hugs Charities Inc

Analysis

Hugs Charities Inc is a registered charity in United States, based in Ocala, FL. It received its IRS tax-exemption ruling in January 2008, 18 years ago. Its declared purposes cover diseases, disorders and medical disciplines, which this site groups under health and saving lives. 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, Hugs Charities Inc reported income of $87k and spending of $74k, spending 85% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $84k to $87k (+3.7%), an average of +3.7% a year. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Hugs Charities Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 33rd percentile, and in the 36th percentile within FL. Charities of a similar size with the same main cause include Planned Parenthood Public Policy Network of the Northwest ($87k), Nest Egg Foundation Inc ($87k) and Christians Living Proof Ministries ($87k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $161k against liabilities of $0, net assets of $161k.