Hugs Cafe Inc

Analysis

Hugs Cafe Inc is a registered charity in United States, based in McKinney, TX. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Hugs Cafe Inc reported income of $1.9m and spending of $1.2m, leaving 36% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $610k to $1.9m (+209%), an average of +33% a year. The sharpest change came in the year to December 2023, when income rose by 51%. Over the whole period it spent 71% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hugs Cafe Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 89th percentile within TX. Charities of a similar size with the same main cause include Habitat for Humanity International ($1.9m), St Nicholas Foundation Inc ($1.9m) and Church Management & Tax Conference Inc ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. Other salaries and wages came to $540k. At year end it held assets of $2.2m against liabilities of $246k, net assets of $2.0m. It reported 47 employees.