Better Business Bureau Inc
- Assets
- $6.0m
- Revenue
- $5.5m
- Investments
- $249.6k
- Employees
- 35
- Location
- Marlborough, MA
- Founding
- 05/1942
- Data as of
- 06/2023
- EIN
- 04-1102640
Organization Overview
Better Business Bureau Inc is located in Marlborough, MA. The organization was established in 1942. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2023, Better Business Bureau Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Better Business Bureau Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2023, Better Business Bureau Inc generated $5.5m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $5.2m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND FOSTER THE HIGHEST ETHICAL RELATIONSHIP BETWEEN BUSINESSES AND THE PUBLIC THROUGH VOLUNTARY SELF-REGULATION, CONSUMER AND BUSINESS EDUCATION SERVICE EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SERVES THEIR COMMUNITIES AS FOLLOWS: PROVIDE REPORTS ON BUSINESS FIRMS THAT ARE HELPFUL TO CONSUMERS. THE BETTER BUSINESS BUREAU SYSTEM RESPONDS TO MILLIONS OF SUCH INQUIRIES A YEAR, AS WELL AS PROVIDING INFORMATION ABOUT CHARITY GROUPS AND ORGANIZATIONS. THE BUREAU PROVIDES A THIRD PARTY ARBITRATION PROGRAM TO RESOLVE CONSUMER/BUSINESS DISPUTES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin J Sanders President & CEO | OfficerTrustee | 40 | $482,592 |
John Ambrosino Director | Trustee | 1 | $0 |
Dj Collins Director | Trustee | 1 | $0 |
Keith S Crumpton Director | Trustee | 1 | $0 |
Sean Cutting Director | Trustee | 1 | $0 |
Lucia DE Bernardo Director | Trustee | 1 | $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 | $5,501,279 |
| Investment income | $20,918 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,522,197 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,048,352 |
| Compensation of current officers, directors, key employees. | $747,129 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,290,443 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $626,424 |
| Payroll taxes | $180,199 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,691 |
| Fees for services: Accounting | $30,736 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $1,016,983 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $189,961 |
| Travel | $15,202 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,965 |
| Insurance | $0 |
| All other expenses | $187,039 |
| Total functional expenses | $5,212,617 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,879,565 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,237,569 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $123,120 |
| Net Land, buildings, and equipment | $18,244 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $249,567 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $467,863 |
| Total assets | $5,975,928 |
| Accounts payable and accrued expenses | $264,762 |
| Grants payable | $0 |
| Deferred revenue | $25,570 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $205,209 |
| Total liabilities | $495,541 |
| Net assets without donor restrictions | $5,480,387 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $5,975,928 |