Free Mom Hugs Inc

Analysis

Free Mom Hugs Inc is a registered charity in United States, based in Oklahoma City, OK. It received its IRS tax-exemption ruling in November 2018, 8 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Free Mom Hugs Inc reported income of $503k and spending of $465k, spending 92% of its income. Across the 4 years on record, from December 2020 to December 2023, income grew from $368k to $503k (+37%), an average of +11% a year. The sharpest change came in the year to December 2023, when income rose by 16%. Over the whole period it spent 78% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Free Mom Hugs Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 71st percentile within OK. Charities of a similar size with the same main cause include Film Noir Foundation ($503k), Seven Stories Institute ($503k) and Suncoast Young Peoples Theatre Inc ($503k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 83% of the total. Compensation of current officers, directors and key employees was $189k (41% of expenses). Other salaries and wages came to $16k. At year end it held assets of $439k against liabilities of $41k, net assets of $398k. It reported 5 employees.