Bbb Institute For Marketplace Trust
- Assets
- $677.2k
- Revenue
- $803.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Arlington, VA
- Founding
- 12/2007
- Data as of
- 12/2023
- EIN
- 20-8814392
Organization Overview
Bbb Institute For Marketplace Trust is located in Arlington, VA. The organization was established in 2007. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bbb Institute For Marketplace Trust 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, Bbb Institute For Marketplace Trust generated $803.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $866.0k during the year ending 12/2023. 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
THE BBB INSTITUTE'S MISSION IS TO FOSTER CONSUMER TRUST AND ETHICAL MARKETPLACE BEHAVIOR THROUGH RESEARCH ON CONSUMER / BUSINESS MARKETPLACE ISSUES, EDUCATION OF CONSUMERS AND THEIR BUSINESSES, DEVELOPMENT OF STANDARDS AND BEST PRACTICES AND PROMOTION OF ETHICAL CONDUCT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BBB SCAM TRACKER & BBB SCAM PREVENTION GUIDE: BBB SCAM TRACKER IS AN ONLINE TOOL THAT ENABLES CONSUMERS TO REPORT SCAM ACTIVITY. FOLLOWING THE UPGRADE IN 2022, BBB INSTITUTE CONTINUES TO EXPAND THE FEATURES OF THE PLATFORM TO HELP PROTECT THE GENERAL PUBLIC. IN 2023 BBB INSTITUTE WORKED WITH ITS PARTNERS TO DEVELOP AND LAUNCH THE BBB SCAM PREVENTION GUIDE. THIS GUIDE INCLUDES VIDEOS ABOUT THE RISKIEST SCAM TYPES FACING CONSUMERS, QUIZZES THAT HELP PEOPLE LEARN IF THEY CAN SPOT SCAMS, A LIBRARY OF RESOURCES, AND A BBB RISK CALCULATOR THAT ALLOWS AN INDIVIDUAL TO LEARN WHICH TYPES OF SCAMS ARE RISKIEST FOR THEM BASED ON THEIR AGE, GENDER, MILITARY STATUS, AND GEOGRAPHIC LOCATION (UNITED STATES OR CANADA).
RESEARCH (BBB SCAM TRACKER RISK REPORT AND TARGETING OUR YOUTH: HOW SCAMS IMPACTED AGES 18-24): BBB INSTITUTE PUBLISHED TWO RESEARCH REPORTS IN 2023. THE BBB SCAM TRACKER RISK REPORT ANALYZES ALL SCAM REPORTS SUBMITTED TO BBB SCAM TRACKER IN 2023, HIGHLIGHTING HOW SCAMS ARE PERPETRATED, WHO IS BEING TARGETED, WHICH SCAMS HAVE THE BIGGEST IMPACT, AND MORE. THE TARGETING OUR YOUTH REPORT HIGHLIGHTS HOW PEOPLE AGES 18-24 ARE BEING IMPACTED BY SCAMS. THE FINDINGS FROM BOTH REPORTS WERE HIGHLIGHTED IN CONSUMER EDUCATION RESOURCES THAT WERE DEVELOPED BY BBB INSTITUTE AND DISTRIBUTED BY THE NETWORK OF BBBS.MILITARY & VETERANS INITIATIVE: BBB INSTITUTE CONTINUED TO PROVIDE RESOURCES AND EDUCATIONAL PROGRAMMING TO MILITARY CONSUMERS AND VETERANS IN PARTNERSHIP WITH BBBS THROUGHOUT THE UNITED STATES. THE MILITARY & VETERANS INITIATIVE FOCUSES ON: 1) PROVIDING FRAUD PREVENTION RESOURCES TO SERVICEMEMBERS AND THEIR FAMILIES ON AND AROUND MILITARY INSTALLATIONS, 2) COMMUNITY OUTREACH TO PROVIDE RESOURCES TO VETERANS, 3) SHARING INFORMATION AND TIPS VIA SOCIAL MEDIA AND OTHER ONLINE CHANNELS, AND 4) DISTRIBUTING A MONTHLY E-NEWSLETTER TO 10K+ MILITARY CONSUMERS THAT PROVIDES FINANCIAL READINESS AND FRAUD PREVENTION ARTICLES. BBB4GOOD: SEVEN BBBS CURRENTLY OFFER THE BBB4GOOD PROGRAM. THE PROGRAM ENABLES PURPOSE-DRIVEN BUSINESSES TO BECOME "BBB4GOOD VERIFIED BUSINESSES" BY VETTING THEIR SOCIAL GOOD ACTIVITIES WITH BBB. BBB4GOOD EMPOWERS CONSUMERS TO IDENTIFY BUSINESSES THAT REFLECT THEIR VALUES AND ALLOWS PURPOSE-DRIVEN BUSINESSES TO STAND OUT IN THE MARKETPLACE.OUTREACH: THE BBB INSTITUTE TEAM CONTINUES TO SPEAK AND PARTICIPATE IN EVENTS WITH STRATEGIC PARTNERS, ENABLING THE ORGANIZATION TO EXPAND ITS REACH TO THE GENERAL PUBLIC, INCLUDING VULNERABLE POPULATIONS, ABOUT HOW SCAMS ARE BEING PERPETRATED IN THE MARKETPLACE. IN 2023, BBB INSTITUTE'S EXECUTIVE DIRECTOR SPOKE AT THE GLOBAL ANTI-SCAM SUMMIT IN LISBON, PORTUGAL TO SHARE NEW FINDINGS ABOUT HOW TO HELP SCAM VICTIMS. BBB SCAM SURVIVAL TOOLKIT: BBB INSTITUTE CONTINUES TO BUILD NEW FEATURES INTO THE BBB SCAM TRACKER PLATFORM TO ENCOURAGE PEOPLE TO REPORT SCAMS, PROVIDE THE KNOWLEDGE THEY NEED TO AVOID SCAMS, AND HELP THOSE WHO ARE IMPACTED BY SCAMS. IN 2023, WE BEGAN WORK ON THE NEW BBB SCAM SURVIVAL TOOLKIT (BBB.ORG/SCAMSURVIVALKIT) IN PARTNERSHIP WITH AMAZON AND CAPITAL ONE. THIS TOOLKIT CONNECTS SCAM SURVIVORS WITH THE RESOURCES THEY NEED TO RESTORE THEIR FINANCIAL, MENTAL, AND EMOTIONAL WELL-BEING. A BETA VERSION OF THE WEBSITE WAS LAUNCHED IN DECEMBER 2023. THE FULLY UPGRADED TOOLKIT WILL BE LAUNCHED IN THE SPRING OF 2024.
CONSUMER EDUCATION CAMPAIGN WITH ZELLE (RED FLAGS OF DIGITAL PAYMENT SCAMS): BBB INSTITUTE PARTNERED WITH ZELLE TO DELIVER A CONSUMER EDUCATION CAMPAIGN AIMED AT HELPING PEOPLE IDENTIFY AND AVOID LOSING MONEY FROM DIGITAL PAYMENT SCAMS. THE DIGITAL CAMPAIGN FOCUSED ON FOUR RED FLAGS THAT CAN HELP PEOPLE SPOT AND AVOID ALL TYPES OF SCAMS. IT RAN ON YOUTUBE AND FACEBOOK/INSTAGRAM FROM AUGUST 21 TO NOVEMBER 30, 2023, RESULTING IN ABOUT 10.2 MILLION IMPRESSIONS.
FIGHTING FINANCIAL FRAUD: BBB INSTITUTE PARTNERED WITH THE FINRA INVESTOR EDUCATION FOUNDATION TO DELIVER THE FIGHTING FINANCIAL FRAUD PROGRAM, A TRAIN-THE-TRAINER PROGRAM FOR BBBS WHO TEACH PEOPLE HOW TO SPOT THE SIGNS OF A FINANCIAL SCAM, RECOGNIZE SCAMMER BEHAVIORS, AND KNOW WHERE TO GO TO VERIFY LEGITIMATE INVESTMENT PROFESSIONALS/BROKERS. ZELLE SUPPORTED THE PROGRAM IN 2023, PROVIDING A PRESENTATION ON DIGITAL PAYMENT SAFETY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Arthur Board Member | Trustee | 1 | $0 |
Aric Perminter Board Member | Trustee | 1 | $0 |
Parag Shah Board Member | Trustee | 1 | $0 |
Jonathan Liebert Board Member | Trustee | 1 | $0 |
Matthew Fehling Board Member | Trustee | 1 | $0 |
Steven Lepper Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $185,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $606,147 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $791,147 |
| Total Program Service Revenue | $0 |
| Investment income | $12,464 |
| 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 | $803,611 |
| 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. | $175,677 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $235,768 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $52,427 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $145,553 |
| Advertising and promotion | $62,976 |
| Office expenses | $121 |
| Information technology | $16,200 |
| Royalties | $0 |
| Occupancy | $201 |
| Travel | $42,529 |
| 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 | $103,000 |
| Insurance | $1,211 |
| All other expenses | $295 |
| Total functional expenses | $866,041 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $162,332 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $120,000 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $394,833 |
| Total assets | $677,165 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $325,057 |
| Total liabilities | $325,057 |
| Net assets without donor restrictions | $277,108 |
| Net assets with donor restrictions | $75,000 |
| 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 | $677,165 |
Grants Awarded
Over the last fiscal year, Bbb Institute For Marketplace Trust has awarded $150,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BBB OF PALM BEACH COUNTY INC PURPOSE: MYER'S AWARD | $10,000 |
BBB OF CENTRAL CALIFORNIA FOUNDATION PURPOSE: DEVELOPMENT OF PUBLIC AWARENESS CAMPAIGN FOR CALIFORNIA REGARDING COMPETITION AND ADVERTISING | $70,000 |
BBB OF CENTRAL OHIO PURPOSE: DEVELOPMENT OF NATIONAL SOCIAL IMPACT PROGRAM | $20,000 |
BBB OF SOUTHERN COLORADO INC PURPOSE: DEVELOPMENT OF NATIONAL SOCIAL IMPACT PROGRAM | $50,000 |