Overview
What is Hug Fund?
Hug Fund is a nonprofit organization based in Toledo, Ohio, with a specific focus on providing financial assistance to eligible employees of HCR ManorCare who encounter unexpected catastrophic events. These events may include severe economic hardships due to illness, death, accidents, crimes, natural disasters, or other uncontrollable circumstances. This assistance is delivered in the form of grants, aiming to alleviate the financial burden during these challenging times. Hug Fund operates with the mission of offering a helping hand to HCR ManorCare employees in need.
Official website here: www.hugfund.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 77% (Three-Star out of Four Star rating)
Hug Fund has earned a Three-Star rating from Charity Navigator, reflecting a score of 77% based solely on its Accountability & Finance metrics. This score indicates a strong focus on financial transparency and responsible management practices. The organization has shown effective governance by implementing essential policies such as conflict of interest, whistleblower protocols, and document retention, all of which contribute positively to its accountability.
The charity demonstrates a solid financial standing, highlighted by a low liabilities-to-assets ratio of 2.34%. Additionally, it allocates a significant portion of its resources to its programs, with a program expense ratio of 87.81%, suggesting that a substantial amount of funding is directed towards fulfilling its mission rather than administrative costs.
While the overall performance is commendable, the rating is based entirely on financial metrics, which may not fully capture the charity's impact or effectiveness in achieving its goals. As such, potential donors should consider seeking additional information regarding its programs and outcomes to gain a comprehensive understanding of its work.
This AI summary has been generated from information found on Charity Navigator.
Is Hug Fund legitimate?
Hug Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Hug Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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Official website here: www.hugfund.org
What is the mission statement of Hug Fund?
The Hug Fund's mission is to offer financial aid in the form of grants to employees of HCR ManorCare who encounter unexpected catastrophic events. These events can lead to severe economic hardship due to factors such as illness, death, accidents, crimes, natural disasters, or circumstances beyond their control. The organization's primary aim is to provide financial assistance during these challenging times, helping eligible employees navigate through these difficult periods.
Official website here: www.hugfund.org
Who is the CEO of Hug Fund?
Gary M Cates is the Chairman of Hug Fund.
Official website here: www.hugfund.org
What is the revenue of Hug Fund?
Hug Fund's revenue in 2022 was $211.
Official website here: www.hugfund.org
Who are the executives of Hug Fund and what are their salaries?
There 1100 volunteers at Hug Fund.
Here are 7 key members and their salaries:
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Official website here: www.hugfund.org
Where can I find the form 990 for Hug Fund?
Hug Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.hugfund.org
Learn more at the official website: www.hugfund.org
Mission Statement of Hug Fund
Hug Fund, as a nonprofit organization, is committed to providing financial assistance in the form of grants to eligible employees of HCR ManorCare who are facing unexpected catastrophic events. These events may include severe economic hardship due to illness, death, accident, crime, natural disaster, or other unforeseen circumstances beyond their control. Hug Fund's mission is to offer a helping hand to these individuals and families during their time of need, providing the necessary financial support to help them navigate through these challenging situations. By offering these grants, Hug Fund aims to alleviate some of the financial burden and stress, allowing the affected employees to focus on their recovery and well-being.
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Impact
October, 2024
Hug Fund significantly impacts the lives of HCR ManorCare employees by offering financial assistance in times of unexpected catastrophic events. This support helps individuals facing severe economic hardship due to circumstances beyond their control, such as illness, death, accidents, crime, or natural disasters. By providing grants, Hug Fund alleviates financial burdens, allowing employees to navigate through challenging times without the added stress of economic instability. The organization serves as a vital resource in Toledo, OH, fostering a sense of community and support among employees, ensuring that they have access to essential assistance when they need it the most. This proactive approach to individual and family assistance not only uplifts those in crisis but also strengthens the overall morale and solidarity within the workforce.
This information is meant to be a general summary of Hug Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Gross Receipts: $211
Assets and Liabilities:
- Total Assets: $135,720
- Total Liabilities: $2,189
- Net Assets: $133,531
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Organization Details
Founding Year
2005
Phone
(419) 254-7707Principal Officer
Gary M Cates
Main Address
PO BOX 10086, TOLEDO, OH, 436990086
Website
www.hugfund.orgNTEE Category
Code: P20 - Human services
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