A C & Lillian D Bulla Memorial Foundation Inc

Organization Overview

A C & Lillian D Bulla Memorial Foundation Inc is located in Raleigh, NC. The organization was established in 1969. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. A C & Lillian D Bulla Memorial Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2023, A C & Lillian D Bulla Memorial Foundation Inc generated $73.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (7.4%) each year. All expenses for the organization totaled $147.9k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE PURPOSE OF THE A.C. AND LILLIAN D. BULLA MEMORIAL FOUNDATION, INC. IS TO USE THE PRINCIPAL AND NET INCOME RECEIVED FROM THE PRINCIPAL FUNDS HELD BY THE FOUNDATION FOR TWO PURPOSES: A STUDENT LOAN FUND AND A PERMANENT IMPROVEMENT FUND TO BENEFIT EDENTON STREET UNITED METHODIST CHURCH.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TO DISBURSE STUDENT LOAN FUNDS TO PERSONS WHO DESIRE A COLLEGE OR POST-GRADUATE EDUCATION.


TO DISBURSE FUNDS FOR PERMANENT IMPROVEMENT FOR THE BENEFIT OF EDENTON STREET UNITED METHODIST CHURCH AND TO BE A FITTING AND LASTING TRIBUTE TO DR. AND MRS. BULLA.


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Board, Officers & Key Employees

Name (title)Compensation
Willis Smith
Board Member
$0
Molly Watters
Board Member
$0
Johnny Neese
President
$0
Joyce Ledbetter
Board Member
$0
Susan Mcguire
Board Member
$0
Lee Black
Vice President
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$10,225
Investment income $79,312
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$15,908
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $73,629

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