Overview
What is Ac & Lillian D Bulla Memorial Foundation?
The Ac & Lillian D Bulla Memorial Foundation, situated in Raleigh, North Carolina, is a nonprofit organization with a noble mission. Established to manage and disburse funds, its primary purpose is to support individuals pursuing higher education. This includes college or postgraduate studies, as per the foundation's guidelines. The foundation also has a Permanent Improvement Fund, dedicated to honoring the Bullas and serving as an enduring tribute to them. The student loan fund, which is a significant part of the foundation's activities, is made available to eligible applicants following a review process and approval by the board.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star rating)
The Ac & Lillian D Bulla Memorial Foundation has received a commendable Three-Star rating from Charity Navigator, reflecting an 87% score primarily based on its Accountability & Finance. This rating indicates a strong commitment to transparency and sound financial practices, reassuring donors about the responsible management of funds.
Strengths of the foundation include a fully independent board of members and a strong program expense ratio, with 84.57% of expenses directed toward its programs. Additionally, the foundation has no liabilities, demonstrating a robust financial position. Policies regarding conflicts of interest and document retention are also in place, contributing to its high accountability score.
While the overall score is positive, it is important for donors to note that the rating is derived from a single beacon score. This means that a broader evaluation of organizational performance across various aspects may not be represented, potentially limiting insights into other operational areas.
This AI summary has been generated from information found on Charity Navigator.
Is Ac & Lillian D Bulla Memorial Foundation legitimate?
Ac & Lillian D Bulla Memorial Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ac & Lillian D Bulla Memorial Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
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What is the mission statement of Ac & Lillian D Bulla Memorial Foundation?
The Ac & Lillian D Bulla Memorial Foundation's mission is centered around utilizing the earnings from its principal funds for two primary objectives. The first objective is a Student Loan Fund, which provides financial aid to eligible individuals following a review process and approval by the board. The second objective is a Permanent Improvement Fund, intended as a lasting tribute to the Bullas. This fund is also subject to approval by the board. The foundation's activities are primarily focused on providing educational support and making lasting improvements.
Who is the CEO of Ac & Lillian D Bulla Memorial Foundation?
Johnny Neese is the Board Member of Ac & Lillian D Bulla Memorial Foundation.
What is the revenue of Ac & Lillian D Bulla Memorial Foundation?
Ac & Lillian D Bulla Memorial Foundation's revenue in 2022 was $65,621.
Who are the executives of Ac & Lillian D Bulla Memorial Foundation and what are their salaries?
There 10 volunteers at Ac & Lillian D Bulla Memorial Foundation.
Here are 6 key members and their salaries:
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Where can I find the form 990 for Ac & Lillian D Bulla Memorial Foundation?
Ac & Lillian D Bulla Memorial Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ac & Lillian D Bulla Memorial Foundation
The Ac & Lillian D Bulla Memorial Foundation is established with a specific mission. It aims to utilize the income derived from its principal funds for two primary purposes. The first is a Student Loan Fund, which is accessible through an application and review process, and approval by the board. The second purpose is a Permanent Improvement Fund, which serves as a lasting tribute to the Bullas. This fund is also subject to the approval of the board. The mission of the Ac & Lillian D Bulla Memorial Foundation is to offer financial assistance for educational pursuits and contribute to the long-term improvement of Edenton Street United Methodist Church.
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Impact
October, 2024
The Ac & Lillian D Bulla Memorial Foundation significantly impacts the educational landscape in Raleigh, NC, by providing crucial financial support through its Student Loan Fund. This initiative helps individuals seeking a college or postgraduate education by disbursing loans that facilitate access to higher learning, thereby fostering intellectual growth and career development.
Moreover, the foundation's commitment to the Permanent Improvement Fund ensures the ongoing enhancement of Edenton Street United Methodist Church, creating a lasting tribute to the Bulla legacy. This dual-focus approach not only supports educational aspirations but also strengthens community bonds and resources, reflecting a holistic dedication to both personal and communal advancement. Through its initiatives, the foundation helps empower individuals and revitalizes community spaces, creating a positive ripple effect throughout the region.
This information is meant to be a general summary of Ac & Lillian D Bulla Memorial Foundation. 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.
- Investment Income: $55,564
- Program Service Revenue: $10,057
- Gross Receipts: $354,765
Assets and Liabilities:
- Total Assets: $3,310,018
- Total Liabilities: $0
- Net Assets: $3,310,018
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
STUDENT LOAN INTEREST
Revenue
$10,057
Organization Details
Founding Year
1962
Phone
(919) 832-7535Principal Officer
Johnny Neese
Main Address
228 WEST EDENTON STREET, RALEIGH, NC, 27603
NTEE Category
Code: B82 - Education
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