Hugs Project Incorporated
EIN: 352249092 · Oklahoma City, OK · NTEE: P99
| Metric | Value |
|---|---|
| Total Revenue | $170K |
| Total Expenses | $139K |
| Net Assets | $652K |
Is Hugs Project Incorporated Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Hugs Project Incorporated
Hugs Project Incorporated (EIN: 352249092) is a nonprofit organization based in Oklahoma City, OK, classified under NTEE code P99. The organization reported total revenue of $170K and total assets of $690K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Hugs Project Incorporated's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Hugs Project Incorporated is a small nonprofit that has been operating for 21 years, with 12 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -2.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $150K |
| Total Expenses | $139K |
| Surplus / Deficit | +$11K |
| Total Assets | $654K |
| Total Liabilities | $2K |
| Net Assets | $652K |
| Operating Margin | 7.4% |
| Debt-to-Asset Ratio | 0.3% |
| Months of Reserves | 56.3 months |
Financial Health Grade: A
In 2023, Hugs Project Incorporated reported a surplus of $11K with revenue exceeding expenses, holds 56.3 months of operating reserves (strong position), has a debt-to-asset ratio of 0.3% (very low leverage).
Financial Trends
Over 12 years of filings (2011–2023), Hugs Project Incorporated's revenue has declined at a compound annual growth rate (CAGR) of -2.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -32.0% | +35.2% | +1.8% |
| 2022 | +173.4% | -24.8% | +22.9% |
| 2021 | -72.1% | -16.6% | +3.1% |
| 2020 | +4.9% | -8.3% | +0.8% |
| 2019 | +206.7% | +90.0% | +73.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2005 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Hugs Project Incorporated has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Hugs Project Incorporated with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $11K, with revenue exceeding expenses.
- Debt-to-asset ratio: 0.3%.
Frequently Asked Questions about Hugs Project Incorporated
Is Hugs Project Incorporated a legitimate charity?
Based on AI analysis of IRS 990 filings, Hugs Project Incorporated (EIN: 352249092) insufficient data. 0 red flags identified, 0 strengths noted.
How does Hugs Project Incorporated spend its money?
Detailed spending breakdown data is not yet available for Hugs Project Incorporated. Check back for updated IRS 990 analysis.
Are donations to Hugs Project Incorporated tax-deductible?
Hugs Project Incorporated is registered as a tax-exempt nonprofit (EIN: 352249092). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Hugs Project Incorporated located?
Hugs Project Incorporated is headquartered in Oklahoma City, Oklahoma and files with the IRS under EIN 352249092. It is classified under NTEE code P99.
How many years of IRS 990 filings does Hugs Project Incorporated have?
Hugs Project Incorporated has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $170K in total revenue.
Filing History
IRS 990 filing history for Hugs Project Incorporated showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2023), Hugs Project Incorporated's revenue has declined by 24.2%, moving from $198K to $150K. Total assets increased by 591.5% over the same period, from $95K to $654K. Total functional expenses fell by 9.4%, from $154K to $139K. In its most recent filing year (2023), Hugs Project Incorporated reported a surplus of $11K, with revenue exceeding expenses. The organization holds $2K in liabilities against $654K in assets (debt-to-asset ratio: 0.3%), resulting in net assets of $652K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $150K | $139K | $654K | $2K | — | — |
| 2022 | $221K | $103K | $642K | $2K | — | View 990 |
| 2021 | $81K | $137K | $523K | $0 | — | — |
| 2020 | $290K | $164K | $507K | $0 | — | — |
| 2019 | $277K | $179K | $503K | $0 | — | View 990 |
| 2018 | $90K | $94K | $291K | $0 | — | View 990 |
| 2017 | $109K | $73K | $295K | $0 | — | View 990 |
| 2016 | $106K | $98K | $258K | $0 | — | View 990 |
| 2015 | $185K | $115K | $250K | $0 | — | View 990 |
| 2013 | $493K | $482K | $151K | $1K | — | View 990 |
| 2012 | $573K | $522K | $142K | $3K | — | View 990 |
| 2011 | $198K | $154K | $95K | $6K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $150K, expenses of $139K, and assets of $654K (revenue -32.0% year-over-year).
- 2022: Revenue of $221K, expenses of $103K, and assets of $642K (revenue +173.4% year-over-year).
- 2021: Revenue of $81K, expenses of $137K, and assets of $523K (revenue -72.1% year-over-year).
- 2020: Revenue of $290K, expenses of $164K, and assets of $507K (revenue +4.9% year-over-year).
- 2019: Revenue of $277K, expenses of $179K, and assets of $503K (revenue +206.7% year-over-year).
- 2018: Revenue of $90K, expenses of $94K, and assets of $291K (revenue -17.6% year-over-year).
- 2017: Revenue of $109K, expenses of $73K, and assets of $295K (revenue +2.9% year-over-year).
- 2016: Revenue of $106K, expenses of $98K, and assets of $258K (revenue -42.5% year-over-year).
- 2015: Revenue of $185K, expenses of $115K, and assets of $250K (revenue -62.5% year-over-year).
- 2013: Revenue of $493K, expenses of $482K, and assets of $151K (revenue -14.0% year-over-year).
- 2012: Revenue of $573K, expenses of $522K, and assets of $142K (revenue +188.7% year-over-year).
- 2011: Revenue of $198K, expenses of $154K, and assets of $95K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Hugs Project Incorporated:
Data Sources and Methodology
This transparency report for Hugs Project Incorporated is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.