Nonprofit · EIN 47-4439474
PHILLIPS LOVE BEARS INC
Tax-exempt · DUNN, NC 28334
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $321,900 | $230,310 | $91,590 | $769,184 | $0 | $769,184 |
| December 31, 2023 | 990 | $115,108 | $115,677 | -$569 | $677,595 | $0 | $677,595 |
| December 31, 2022 | 990 | $258,371 | $149,938 | $108,433 | $671,504 | $0 | $671,504 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $304,710
- Program service revenue
- $0
- Investment income
- $7,435
- Net gain from sales of assets
- $2,323
- Other revenue
- $9,755
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $50,000
- Salaries, compensation and benefits (total)
- $54,250
- Professional fundraising fees
- $0
- Legal fees
- $8,215
- Accounting fees
- $1,744
- Travel
- $504
- Depreciation
- $6,512
- Program services (functional)
- $62,804
- Management and general (functional)
- $167,506
Balance sheet and other
- Total assets, start of year
- $677,595
- Total assets, end of year
- $769,184
- Total liabilities, end of year
- $0
- Net assets, end of year
- $769,184
- Land, buildings and equipment
- $129,105
- Gross receipts
- $421,143
- Employees
- 1
- Volunteers
- 0
- Year formed
- 2016
- State of legal domicile
- NC
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PHILLIP A FUSCO SR | PRESIDENT Trustee or director | 2 | $50,000 |
| MARY ANGELA FUSCO | VICE PRESIDENT Officer | 2 | $0 |
| AMOS LOVE | TREASURER Officer | 2 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PHILLIP A FUSCO SR | PRESIDENT Trustee or director | 2 | $50,000 |
| MARY ANGELA FUSCO | VICE PRESIDENT Officer | 2 | $0 |
| AMOS LOVE | TREASURER Officer | 2 | $0 |
990 for the year ended December 31, 2022: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| PHILLIP A FUSCO SR | PRESIDENT Trustee or director | 2 | $0 |
| MARY ANGELA FUSCO | VICE PRESIDENT Officer | 2 | $0 |
| AMOS LOVE | TREASURER Officer | 2 | $0 |
Address and contacts
- Address (IRS master file)
- 1003 MERRY ST, DUNN, NC 28334-2217
- In care of
- % PHILLIP A FUSCO
- Mailing address (990-N for 2016)
- Post Office Box 906, Dunn NC 28335
- Principal officer (990 for 2024)
- PHILLIP A FUSCO SR, 1003 MERRY STREET, DUNN, NC 28334
- Principal officer (990-N for 2016)
- Phillip A Fusco, 1003 Merry Street, Dunn NC 28334
- Signed the 990
- PHILLIP A FUSCO SR, PRESIDENT
- Phone
- (910) 985-1087
- Website
- www.phillipslovebears.com
- Return prepared by
- THOMPSON PRICE SCOTT ADAMS & CO P
Mission
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.
Program accomplishments
- COSTS OF MAKING BEARS THAT ARE DONATED TO VARIOUS CHARITIES FOR CHARITABLE PURPOSESExpenses $62,804
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 47-4439474
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Religion-related (X99)
- Assets (IRS master file)
- $769,184
- Income (IRS master file)
- $421,143
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $321,900 | $230,310 | $769,184 | XML |
| 990 | December 2023 | $115,108 | $115,677 | $677,595 | XML |
| 990 | December 2022 | $258,371 | $149,938 | $671,504 | XML |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990-EZ | December 2018 | – | – | – | IRS |
| 990-EZ | December 2017 | – | – | – | IRS |
| 990-N for 2016 Officer: Phillip A Fusco | December 31, 2016 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-4439474).
Questions about PHILLIPS LOVE BEARS INC
- What is the EIN of PHILLIPS LOVE BEARS INC?
- The employer identification number (EIN) of PHILLIPS LOVE BEARS INC is 47-4439474.
- Is PHILLIPS LOVE BEARS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to PHILLIPS LOVE BEARS INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PHILLIPS LOVE BEARS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PHILLIPS LOVE BEARS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PHILLIPS LOVE BEARS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PHILLIPS LOVE BEARS INC?
- The 990 for the year ended December 31, 2024 names PHILLIP A FUSCO SR.
- Who are the officers and directors of PHILLIPS LOVE BEARS INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 1 received compensation from the organization, the highest $50,000 (PHILLIP A FUSCO SR, PRESIDENT).
- How much revenue does PHILLIPS LOVE BEARS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $321,900, expenses of $230,310 and total assets of $769,184 at year end.
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