Hug Fund

Analysis

Hug Fund is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in June 2017, 9 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 December 2023, Hug Fund reported income of $138k and spending of $96k, leaving 30% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $104k to $138k (+33%), an average of +33% a year. The sharpest change came in the year to December 2023, when income rose by 33%. Over the whole period it spent 83% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Hug Fund sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 43rd percentile within NY. Charities of a similar size with the same main cause include Operation Chillout ($138k), Brown Bag Food Project ($138k) and Blankets of Hope ($138k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 95% of the total. At year end it held assets of $103k against liabilities of $0, net assets of $103k.