Hugs Foundation Inc

Analysis

Hugs Foundation Inc is a registered charity in United States, based in Rochester, NY. It received its IRS tax-exemption ruling in August 2003, 23 years ago. Its declared purposes cover international, foreign affairs and national security, which this site groups under overseas aid and international. 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 Foundation Inc reported income of $639k and spending of $342k, leaving 46% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $511k to $639k (+25%), an average of +5.8% a year. The sharpest change came in the year to December 2021, when income rose by 56%. Over the whole period it spent 40% of the income it received.

Among 10,317 United States charities whose main cause is overseas aid and international and that reported income, Hugs Foundation Inc sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within NY. Charities of a similar size with the same main cause include Millennium Campus Network Inc ($639k), Heal and Thrive Global ($640k) and Give a Beat Foundation ($638k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% of the total. Compensation of current officers, directors and key employees was $77k (23% of expenses). Other salaries and wages came to $17k. At year end it held assets of $2.7m against liabilities of $0, net assets of $2.7m. It reported 4 employees.