Hugs Foundation INC EIN 58-2673458 Form 990 (PDF) Claim this org

Hugs Foundation INC

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Funds volunteer medical teams performing free reconstructive surgeries for children with correctable conditions. For fiscal year 2024 it reported $816K in revenue, $424K in expenses, and $3.2M in net assets.Pt I

Type
Public charity (501(c)(3)) · International
Location
Rochester, NY
Website
helpusgivesmiles.org
Filings
5 on file (2020–2024)
Revenue
$816KFY2024
Expenses
$424K
Net assets
$3.2M
People
15
Filings
5
Updates
0
More identity details & actions ⌄
EIN  58-2673458 Public charity (501(c)(3)) Rochester, NY
Form 990 (PDF)
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Size
$100K–1M
What they do
Funds volunteer medical teams performing free reconstructive surgeries for children with correctable conditions.
Leadership
Kim Palumbo · Executive Dir. · $77K
Money in and out
$816K revenue, $424K expenses
Bottom line
63% program efficiency
Where the money goes · FY2024
Total revenue
$816K
Pt VIII · Ln 12
Total expenses
$424K
Pt IX · Ln 25
Net assets
$3.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $391K
Where spending went · Part IX cols B–D
Program services $0.63 Management & general $0.35 Fundraising $0.02
Program efficiency
63%
of spending reaches programs▲ +8% vs prior filing year
Operating runway
13.7mo
months of highly liquid reserves at operating expense rate▼ -60% vs prior filing year
Surplus margin
+48%
revenue over expenses, this year▲ +3% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$816K
FY2024▲ +28%
Expenses
$424K
FY2024▲ +24%
Total assets
$3.2M
FY2024▲ +20%
Total liabilities
$0
FY2024
Total revenue
$816K
Pt VIII · Ln 12
Total expenses
$424K
Pt IX · Ln 25
Net assets
$3.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$391K
Total assetsPt X · Ln 16$3.2M
Program-expense ratioPt IX · col B63%
Voting members of governing bodyPt I · Ln 315
Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CHugs Foundation INC
EINHdr · item D58-2673458
Principal addressHdr · item CRochester, NY
WebsiteHdr · item Jhelpusgivesmiles.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNY
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q33)
Ruling yearIRS BMFAug 2003

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a15
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Dir.
$77,000Pt VII · Sec A
President & CEO
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Kim Palumbo’s $77K as Executive Dir. is at the 69th percentile of top reported officer pay among 1636 $100K–1M international nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kim Palumbo$77,000$77,000$75,500$80,000$70,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Mission & Programs · Part III

Where the work happens

1 program service account for $266K of program spending, described in the organization's own filed words · FY2024.
01

To provide funding for teams of volunteer medical professionals which perform free surgeries to children and adolescents suffering from deformities or conditions that can be remedied through plactic surgery.

$266Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$382K · 47%
Other revenue$326K · 40%
Investment income$108K · 13%
Contributions & grants47%$382K
Other revenue40%$326K
Investment income13%$108K
Total revenueLn 12$816K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.63 Management & general $0.35 Fundraising $0.02
Program services63%$266K
Management & general35%$150K
Fundraising2%$8K
Total functional expensesLn 25$424K

Balance Sheet

Part X · end of year
CashLn 1$484K
Total assetsLn 16$3.2M
Total liabilitiesLn 26$0
Total net assetsLn 32$3.2M
Months of cash on handcomputed13.7

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $484K · Operating expenses/yr $424K
13.7 months
Where the money goes
Program services
Program services $266K · Total expenses $424K
63%
Management & General
Management & general $150K · Total expenses $424K
35%
Fundraising
Fundraising $8K · Total expenses $424K
2%
Cost to raise $1
Fundraising expense (3-yr avg) $8K · Solicited contributions (3-yr avg) $330K
$0.02 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $382K · Total revenue $816K
47%
Government reliance
Government grants — · Total revenue $816K
Earned-income share
Program service revenue $0 · Total revenue $816K
0%
Investment reliance
Investment income $108K · Total revenue $816K
+13%
Program self-sufficiency
Program service revenue $0 · Total expenses $424K
0%
Growth & trend
Revenue growth (YoY)
This year $816K · Prior year $639K
+28%
Revenue CAGR
FY2020 $487K · FY2024 $816K
+14%
Net-asset trend (YoY)
End of year $3.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $816K · Expenses $424K
+48%
Liabilities-to-Assets
Total liabilities — · Total assets $3.2M
Net-asset ratio
Net assets $3.2M · Total assets $3.2M
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $3.2M
0%
People & payroll
Highest Reported Total Compensation
Individual Kim Palumbo · Reported title Executive Dir. · Highest reported compensation $77K · Total expenses $424K
18%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $108K · Total expenses $424K
26%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 63%
Overhead ratio 35%
Fundraising cost ratio 2%
Revenue growth 28%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0.8%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$10K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$816K revenue · viewing · ⤓ 990 PDF
FY2023$639K revenue · ⤓ 990 PDF
FY2022$552K revenue · ⤓ 990 PDF
FY2021$758K revenue · ⤓ 990 PDF
FY2020$487K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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