Overview
What is Phillip's Love Bears Inc?
Phillip's Love Bears Inc is a small-scale, nonprofit organization situated in Dunn, North Carolina. The primary mission of this charity is to distribute high-quality teddy bears, free of charge, to Christian workers both domestically and internationally. This initiative aids these individuals in their endeavors to spread the message of Jesus Christ. Moreover, Phillip's Love Bears extends this opportunity to serve by allowing the special needs community and others to contribute by helping prepare the teddy bears for their respective missions. The organization's activities incorporate charitable donations for noble causes.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 33%
Phillip's Love Bears Inc has received a Zero-Star out of Four Star rating from Charity Navigator, primarily due to concerns regarding accountability and financial practices. While the organization has achieved full marks for having a majority independent board and no material diversion of assets, it falls short in several critical areas, including missing policies that are essential for transparency and accountability. The low program expense ratio of 33.57% suggests that a significant portion of its funds may not be directed towards programmatic activities.
On a more positive note, user feedback from Great Nonprofits highlights a commendable narrative about the organization’s founder, Phillip Alan Fusco II, who, despite facing serious health challenges, plays an active role in creating teddy bears intended to bring comfort to children in need. The testimonials emphasize the inspirational aspect of the charity, portraying it as a community effort where individuals, including those with special needs, contribute to a meaningful cause.
However, the lack of established policies and transparency measures could raise concerns for potential donors about the organization's governance and financial health. While the heartfelt mission and personal stories resonate well with supporters, addressing these governance issues may be crucial for building trust and enhancing future contributions.
This AI summary has been generated from information found on Charity Navigator and Great Nonprofits.
Is Phillip's Love Bears Inc legitimate?
Phillip's Love Bears Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Phillip's Love Bears Inc 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:
Executive Compensation: $16,667
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,483
For more financial information, click here
What is the mission statement of Phillip's Love Bears Inc?
Phillip's Love Bears Inc. has a mission to distribute high-quality teddy bears, free of charge, to Christian workers worldwide. This initiative serves to aid these individuals in spreading the message of Jesus Christ. Additionally, the organization extends this opportunity to the special needs community and others beyond this group, encouraging them to contribute by assisting in the preparation of the teddy bears for their mission. In essence, Phillip's Love Bears Inc. aims to foster a sense of service and community involvement, enabling individuals to contribute to the organization's mission of spreading the gospel through teddy bears.
Who is the CEO of Phillip's Love Bears Inc?
Phillip A Fusco Sr is the President of Phillip's Love Bears Inc.
What is the revenue of Phillip's Love Bears Inc?
Phillip's Love Bears Inc's revenue in 2021 was $494,048.
Who are the executives of Phillip's Love Bears Inc and what are their salaries?
The average compensation at Phillip's Love Bears Inc during 2021 was $18,150. There is 1 employee at Phillip's Love Bears Inc.
Here are 3 key members and their salaries:
- Compensation: $16,667
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Phillip's Love Bears Inc?
Phillip's Love Bears Inc's most recent form 990 was submitted in 2021 and can be accessed here.
Mission Statement of Phillip's Love Bears Inc
Phillip's Love Bears Inc is a nonprofit organization with a unique mission. Their primary objective is to provide high-quality teddy bears, free of charge, to Christian workers both domestically and internationally. These bears serve as a tool for these individuals to share the message of Jesus Christ. Moreover, Phillip's Love Bears Inc extends this opportunity beyond the special needs community, encouraging others to participate in the preparation and distribution of these bears for their mission. This involvement allows individuals to serve Christ and contribute to spreading His message.
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Impact
July, 2024
Phillip's Love Bears Inc's impact is significant as it provides quality teddy bears free of charge to Christian workers at home and abroad, enabling them to spread the gospel of Jesus Christ. This initiative not only supports those actively engaged in missionary work but also offers individuals in the special needs community and beyond the opportunity to serve by helping stuff and prepare the teddy bears for missions. By facilitating both charitable giving and meaningful participation in a religious mission, Phillip's Love Bears Inc plays a vital role in fostering a sense of community and service among diverse groups of people.
This information is meant to be a general summary of Phillip's Love Bears Inc. 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 2021.
- Gross Receipts: $494,048
Assets and Liabilities:
- Total Assets: $578,507
- Total Liabilities: $0
- Net Assets: $578,507
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Organization Details
Founding Year
2016
Phone
(910) 985-1087Principal Officer
Phillip A Fusco Sr
Main Address
1003 MERRY STREET, DUNN, NC, 28334
NTEE Category
Code: X99 - Religion related
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