Hugs Project Incorporated

Analysis

Hugs Project Incorporated is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in October 2005, 21 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 June 2023, Hugs Project Incorporated reported income of $150k and spending of $139k, spending 93% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $277k to $150k (-46%), an average of -14% a year. The sharpest change came in the year to June 2022, when income rose by 173%. Over the whole period it spent 71% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hugs Project Incorporated 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 47th percentile, and in the 48th percentile within OK. Charities of a similar size with the same main cause include Change 1 Mind Change 1 Life ($150k), The Unforgotten ($150k) and Sos Sahel USA Inc ($150k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 51% and program service revenue 47% of the total. At year end it held assets of $654k against liabilities of $2,127, net assets of $652k.