Reading through the organization's mission statement on their website, nowhere do they claim to provide money to animal shelters; I haven't seen their ads so I don't know if they claim to in advertising, but it sounds like they're spending is more or less on what they claim to. They're a public awareness and lobbying organization, which means most of their budget is going to be spent on advertising. Like most similar organizations, I'd guess that they're bloated with unnecessary bureaucracy and completely inefficient.
Then again, it's telling that this article comes not from any sort of reputable publication, but from a public interest group that represents tobacco, meat and fast food producers (
http://en.wikipedia.org/wiki/Center_...umer_Freedom); I'll wait until I see a more unbiased analysis of the HSUS figures before I rush to judgement. But it's typically better to provide donations to smaller, local organizations, so you have a better idea of where your money is going.