Peaceful Hugs
- Assets
- $551.0k
- Revenue
- $995.0k
- Investments
- $0.0
- Employees
- 24
- Location
- Detroit, MI
- Founding
- 12/2018
- Data as of
- 12/2022
- EIN
- 83-0528560
Organization Overview
Peaceful Hugs is located in Detroit, MI. The organization was established in 2018. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 12/2022, Peaceful Hugs employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Peaceful Hugs is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Peaceful Hugs generated $995.0k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 45.0% each year . All expenses for the organization totaled $598.2k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ASSIST SINGLE PARENTS, AT-RISK YOUTH, AND PEOPLE IN NEED. WE DO THIS BY PROVIDING OPPORTUNITIES IN EMPLOYMENT, EDUCATION, HOUSING, AND OTHER RESOURCES TO SUPPORT PERSONAL AND PROFESSIONAL GROWTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PEACEFUL HUGS PROVIDED ASSISTANCE TO INDIVIDUALS WHO NEEDED HELP PAYING BILLS DURING HARD TIMES.
DEPRECIATION EXPENSE
MONIES FROM PEACEFUL HUGS WERE USED TO SUPPORT THE START OF A PRE-SCHOOL, LEGACY CHILDREN'S ACADEMY. LEGACY OPENED IN SEPTEMBER 2021 AND IS OFFERING SOME SCHOLARSHIPS TO FAMILIES IN NEED BUT IS STILL IN THE RED AND UNABLE TO OFFER THE FULL SUPPORT THAT WE EXPECT IT WILL BE ABLE TO MAINTAIN ONCE OPERATIONS ARE STABILIZED DURING THE FIRST YEAR. THE SCHOOL WILL THEN CONTINUE TO SUPPORT THE OVERALL MISSION OF PEACEFUL HUGS THROUGH TUITION AND DONATIONS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Zahringer President & Executive Dire | OfficerTrustee | 15 | $0 |
Robert Allen Treasurer | OfficerTrustee | 1 | $0 |
Cari Hagemeister Secretary/teacher | OfficerTrustee | 5 | $5,557 |
Mary Peasley Director Of The School | Trustee | 40 | $51,287 |
Aimee Cameron Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $160,852 |
| All other contributions, gifts, grants, and similar amounts not included above | $263,766 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $424,618 |
| Total Program Service Revenue | $570,418 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $995,036 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $357,386 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,560 |
| Payroll taxes | $25,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,525 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,927 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $89,596 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,515 |
| Insurance | $15,992 |
| All other expenses | $11,314 |
| Total functional expenses | $598,172 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $342,531 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $197,506 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,000 |
| Total assets | $551,037 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,824 |
| Total liabilities | $12,824 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $538,213 |
| Total liabilities and net assets/fund balances | $551,037 |