Better Business Bureau Inc
- Assets
- $5.1m
- Revenue
- $3.7m
- Investments
- $682.3k
- Employees
- 35
- Location
- Cromwell, CT
- Founding
- 07/1964
- Data as of
- 12/2023
- EIN
- 06-1002092
Organization Overview
Better Business Bureau Inc is located in Cromwell, CT. The organization was established in 1964. According to its NTEE Classification (S01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, 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 12/2023, Better Business Bureau Inc generated $3.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $3.6m during the year ending 12/2023. While expenses have increased by 4.3% per year over the past 9 years. They've been increasing with an increasing level of total revenue. 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
BBB'S MISSION IS TO PROMOTE AN ENVIRONMENT OF TRUSTWORTHY BUSINESSES THAT UPHOLD ETHICAL BUSINESS PRACTICES TO ENHANCE CONSUMER PROTECTION. BUSINESS ACCREDITATION AT THE CONNECTICUT BETTER BUSINESS BUREAU EXCEEDS 5,000. THE BBB PUBLISHES ARTICLES AND TIPS FOR BOTH ACCREDITED BUSINESSES (ABS) AND CONSUMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BETTER BUSINESS BUREAU, INC. IS AN UNBIASED NON-PROFIT ORGANIZATION THAT SETS AND UPHOLDS HIGH STANDARDS FOR FAIR AND HONEST BUSINESS BEHAVIOR. THE ORGANIZATION ACTIVELY SEEKS OUT BUSINESSES IN CONNECTICUT TO JOIN THEIR ORGANIZATION. BUSINESSES ARE ACCEPTED ONLY AFTER A THROUGH REVIEW OF BUSINESS PRACTICES TO ENSURE THAT THEY MEET BBB ACCREDITATION STANDARDS.
BETTER BUSINESS BUREAU HELPS CONSUMERS MAKE SMART DECISIONS AND IS EVOLVING TO MEET FAST-CHANGING MARKETPLACE NEEDS BOTH ONLINE AND OFFLINE. BBB HELPS CONSUMERS FIND BUSINESSES THEY CAN TRUST, OFFER OBJECTIVE ADVICE AND EDUCATION PRESENTATIONS ON TOPICS AFFECTING MARKETPLACE TRUST. BBB ALSO OFFERS COMPLAINT AND DISPUTE RESOLUTION SUPPORT FOR CONSUMERS AND BUSINESSES.
SEARCH ENGINE & DIRECTORY FEES ARE PROGRAMS USED BY BBB TO HELP CONSUMERS FIND BBB ACCREDITED BUSINESSES (AB'S) THAT MEET BBB STANDARDS WHEN THEY DO A GOOGLE SEARCH. BBB USES A SERIES OF KEYWORDS THAT CAUSE THE BBB NAME TO APPEAR IN KEY SPOTS ON A GOOGLE SEARCH HELPING CONSUMERS TO "START WITH TRUST" IN THEIR SEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Conner Past Chairman | Trustee | 1 | $0 |
Kevin O'rourke Chairman | Trustee | 1 | $0 |
Chris Walker Chairman Elect | Trustee | 1 | $0 |
Nick D'ambrosia Vice-President | Trustee | 1 | $0 |
Dominic Scarano Jr Treasurer/secretary | Trustee | 1 | $0 |
Ruth Frank 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 | $3,684,531 |
| Investment income | $63,402 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$25,544 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,724,041 |
| 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. | $466,839 |
| Compensation of current officers, directors, key employees. | $191,261 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,493,445 |
| Pension plan accruals and contributions | $54,995 |
| Other employee benefits | $0 |
| Payroll taxes | $144,131 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,578 |
| Advertising and promotion | $0 |
| Office expenses | $125,746 |
| Information technology | $25,348 |
| Royalties | $0 |
| Occupancy | $113,822 |
| Travel | $932 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,066 |
| Interest | $0 |
| Payments to affiliates | $122,769 |
| Depreciation, depletion, and amortization | $50,385 |
| Insurance | $154,681 |
| All other expenses | $185,545 |
| Total functional expenses | $3,561,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,886,498 |
| Savings and temporary cash investments | $27,664 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $907,423 |
| 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 | $17,467 |
| Net Land, buildings, and equipment | $1,062,430 |
| Investments—publicly traded securities | $482,085 |
| Investments—other securities | $682,288 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,065,855 |
| Accounts payable and accrued expenses | $73,803 |
| Grants payable | $0 |
| Deferred revenue | $1,562,355 |
| 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 | $464,315 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $279,735 |
| Total liabilities | $2,380,208 |
| Net assets without donor restrictions | $2,685,647 |
| 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 | $5,065,855 |