Phillips Love Bears INC

Tax-deductible

Dunn, NC501(c)(3)ReligionEIN 47-4439474

This page gets seen. Tell your story. Claim this org.

Phillip's Love Bears provides quality teddy Bears, free of charge, to christian workers at home and abroad, to assist them in sharing the gospel of jesus christ. Phillip's Love Bears also gives the special needs community (and others, outside the special needs community) the opportunity to serve christ by helping stuff and prepare our teddy Bears for mission.

501(c)(3) charity; gifts are tax-deductible.
27¢ of each $1 spent went to programs.
$50K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $150K a year · 51% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
27%
of spending
Concern: 27% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$50K
to officers and key staff · 22% of spending
Top officer’s pay higher than 51% of similar orgs
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$322K
+180% vs prior year
Spent
$230K
To programs
27%
Net assets
$769K
By yearFY2020–FY2024
Revenue
$322K
FY2024▲ +180%
Revenue by fiscal year
FY2020$273K
FY2021$494K
FY2022$258K
FY2023$115K
FY2024$322K
Expenses
$230K
FY2024▲ +99%
Expenses by fiscal year
FY2020$58K
FY2021$156K
FY2022$150K
FY2023$116K
FY2024$230K
Net assets
$769K
FY2024▲ +14%
Net assets by fiscal year
FY2020$240K
FY2021$579K
FY2022$672K
FY2023$678K
FY2024$769K

From the FY2024 Form 990 · see the original

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2015.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

27 cents of each dollar spent went to programs.

Program services 27% · $63K Management & general 73% · $168K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Something off? The org can add a note here. Request edit privileges.

Who runs it and what they're paid

3 people listed on the 990; $50K paid to officers and key staff.

Part VII, Section A · reportable compensation
$50,000Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Phillip a Fusco SR’s $50K as President is at the 51st percentile of top reported officer pay among 2133 $100K–1M religion 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

NameFY2024FY2023FY2021
Phillip a Fusco SR$50,000$50,000$16,667

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.

See Phillips Love Bears INC executive salaries →

Are you one of these people? Claim this org to confirm your role

Something off? The org can add a note here. Request edit privileges.

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Gives teddy bears to Christian workers and opportunities to serve through stuffing bears.

Provided by the organization

This section is blank until Phillips Love Bears INC claims this page.

Know this organization? Claim it to add your story

1 program service account for $63K of program spending, described in the organization's own filed words · FY2024.
01

Costs of making bears that are donated to various charities for charitable purposes

$63Kprogram expense

Run this program? Claim this org to tell your story

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2021
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$322K
Ln 12
Gifts and grantsLn 1h$305K
Other incomeLn 4–11$10K
Investment incomeLn 3$7K
Money outPt IX
$230K
Ln 25
Programscol B$63K
Managementcol C$168K
Owns and owesPt X
$769K
net assets · Ln 32
Cash and savingsLn 1–2$54K
Total assetsLn 16$769K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A1
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$305K
Investment incomeLn 3$7K
Other incomeLn 4–11$10K
Gains on assetsLn 7$2K
Total revenueLn 12$322K
Assets in detailPt X, end of year
CashLn 1$54K
Cash and savings togetherLn 1–2$54K
InvestmentsLn 11–13$564K
Land, buildings, equipmentLn 10c$129K
Other assetsLn 15$22K
Total assetsLn 16$769K
LiabilitiesLn 26$0
Net assetsLn 32$769K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$36K$54K
InvestmentsLn 11–13$484K$564K
Land, buildings, equipmentLn 10c$136K$129K
Total assetsLn 16$678K$769K
LiabilitiesLn 26$0$0
Net assetsLn 32$678K$769K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$50K$50K
Payroll taxesLn 10$4K$4K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$2K$2K
Advertising and promotionLn 12$38K$38K
Office expensesLn 13$15K$15K
Information technologyLn 14$2K$2K
TravelLn 17$504$504
Conferences, conventions and meetingsLn 19$1K$1K
InterestLn 20$7$7
Depreciation, depletion and amortizationLn 22$7K$7K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$83K$63K$21K
All other expensesLn 24e$15K$15K
Total functional expensesLn 25$230K$63K$168K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $322K$230K$92K$769K 990 PDF
FY2023 $115K$116K−$569$678K 990 PDF
FY2022 $258K$150K$108K$672K 990 PDF
FY2021 $494K$156K$338K$579K 990 PDF
FY2020 $273K$58K$214K$240K 990 PDF

Want to add your own materials alongside these filings? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (4 parts)
Part VIII · Statement of revenue $321,900 across 6 lines filed
VIII-1f All other contributions, gifts and grants$304,710
VIII-1h Total contributions, gifts and grants$304,710
VIII-3 Investment incomeExcluded from tax $5,112$5,112
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,323$2,323
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $9,755$9,755
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $17,190$321,900
Part IX · Statement of functional expenses $230,310 across 14 lines filed
IX-7 Other salaries and wagesManagement $50,000$50,000
IX-10 Payroll taxesManagement $4,250$4,250
IX-11b Legal feesManagement $8,215$8,215
IX-11c Accounting feesManagement $1,744$1,744
IX-12 Advertising and promotionManagement $38,491$38,491
IX-13 Office expensesManagement $15,403$15,403
IX-14 Information technologyManagement $2,289$2,289
IX-17 TravelManagement $504$504
IX-19 Conferences, conventions and meetingsManagement $1,387$1,387
IX-20 InterestManagement $7$7
IX-22 Depreciation, depletion and amortizationManagement $6,512$6,512
IX-23 InsuranceManagement $3,365$3,365
IX-24 Other expenses (24a–d)Programs $62,804 · Management $20,632$83,436
IX-24e All other expensesManagement $14,707$14,707
IX-25 Total functional expensesPrograms $62,804 · Management $167,506 · Fundraising $0$230,310
Part X · Balance sheet $769,184 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $35,723$53,553
X-10c Land, buildings and equipment, netStart of year $135,617$129,105
X-12 Other securitiesStart of year $484,158$564,429
X-15 Other assetsStart of year $22,097$22,097
X-16 Total assetsStart of year $677,595$769,184
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $677,595$769,184
X-33 Total liabilities and net assetsStart of year $677,595$769,184
Part XI · Reconciliation of net assets $769,184 net assets at year end
XI-1 Total revenue$321,900
XI-2 Total expenses$230,310
XI-3 Revenue less expenses$91,590
XI-4 Net assets at start of year$677,595
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$769,184

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

If you ARE the filing organization, claim this org and add context

Made it to the end? Claim this organization

Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.
Keep this kind of thing free
Keep public charity data easy to read.

Free to the public, because obviously. Like this? Pay it forward. Don't like this? Help us get better.

Card, Apple Pay or Google Pay through Stripe. One time.

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.