Hughes Foundation

Analysis

Hughes Foundation is a registered charity in United States, based in Sherman, TX. It received its IRS tax-exemption ruling in September 2008, 18 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Hughes Foundation reported income of $336k and spending of $20k, leaving 94% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $221k to $336k (+52%), an average of +11% a year. The sharpest change came in the year to December 2022, when income rose by 88%. Over the whole period it spent 21% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Hughes Foundation sits at the 67th percentile: it is larger than about 67% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 68th percentile within TX. Charities of a similar size with the same main cause include The Cooper County Agricultural and Mechanical Society ($336k), Cleveland Chiropractic College of Los Angeles ($337k) and L Arche Daybreak Foundation U S ($336k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% of the total. At year end it held assets of $3.1m against liabilities of $0, net assets of $3.1m.