Better Business Bureau Of Western Michigan Educational Foundation
- Assets
- $1.2m
- Revenue
- $396.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Grand Rapids, MI
- Founding
- 12/1984
- Data as of
- 12/2023
- EIN
- 38-2532275
Organization Overview
Better Business Bureau Of Western Michigan Educational Foundation is located in Grand Rapids, MI. The organization was established in 1984. 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. Better Business Bureau Of Western Michigan Educational Foundation 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, Better Business Bureau Of Western Michigan Educational Foundation generated $396.2k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 31.2% each year . All expenses for the organization totaled $291.7k during the year ending 12/2023. While expenses have increased by 25.5% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO EDUCATE, ENGAGE, AND INSPIRE THE CURRENT AND FUTURE WORKFORCES OF WESTERN MICHIGAN TO ACHIEVE SUCCESS BY EMBRACING THE POWER OF TRUST; TO PROVIDE INFORMATION AND RESOURCES TO NON-PROFITS AND DONORS IN WESTERN MICHIGAN TO ASSIST THEM IN BEST PRACTICES, TRANSPARENCY, AND MAKING KNOWLEDGEABLE CHOICES; TO EDUCATE ALL AGE GROUPS, PARTICULARLY SENIORS, ABOUT BEST PRACTICES TO AVOID SCAMS AND FRAUD.
Describe the Organization's Program Activity:
PRESENTATIONS ARE PROVIDED TO STUDENTS AND GROUPS, EDUCATING THEM TO FRAUDS AND SCAMS, AND HOW TO AVOID THEM. FOUNDATION REPRESENTATIVES COLLABORATE WITH BUSINESSES AND NON-PROFITS TO IMPROVE THE TRUST RELATIONSHIP IN OUR COMMUNITIES.BBB FOUNDATION ASSISTS PEOPLE TO ESTABLISH THEMSELVES FOR A MORE SUCCESSFUL LIFE, THROUGH EDUCATION ABOUT HOW THE FREE ENTERPRISE SYSTEM WORKS, AND NAVIGATING THE CONSUMER JOURNEY. BBB FOUNDATION LESSENS THE BURDENS OF GOVERNMENT THROUGH EDUCATION OF CONSUMERS AND DONORS, NON-PROFIT LEADERS, AND BUSINESS LEADERS TO IMPLEMENT BEST PRACTICES. THIS MEANS GOVERNMENT INTERVENTION IS NOT REQUIRED.
PROGRAMS TO INCENTIVIZE BUSINESSES AND NON-PROFITS FOR ENCOURAGE ETHICS AND TRUST BETWEEN THEM AND CONSUMERS.
CHARITY REVIEW GATHERS INFORMATION FROM AREA NON-PROFITS AND ACCREDITS THOSE THAT MEET THE 20 STANDARDS OF CHARITY ACCOUNTABILITY. THE ACCREDITATION PROCESS IS FREE OF CHARGE TO THE NON-PROFIT, AND THE INFORMATION IS AVAILABLE TO THE GENERAL PUBLIC AT NO CHARGE.
THE BBB BEACON IS A QUARTERLY MAGAZINE PUBLISHED BY THE BETTER BUSINESS BUREAU SERVING WESTERN MICHIGAN EDUCATIONAL FOUNDATION. IT IS FULL OF INFORMATION TO HELP BUSINESSES GROW IN TRUST, PUTS THE SPOTLIGHT ON ACCREDITED BUSINESSES, AND HIGHLIGHTS WAYS THE BBB CAN WORK FOR BUSINESSES. THE PRINT MAGAZINE IS DISTRIBUTED TO MORE THAN 5,000 ACCREDITED BUSINESS LOCATIONS THROUGHOUT THE 38 COUNTY SERVICE REGION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rob Van Suilichem Chair | OfficerTrustee | 0.25 | $0 |
Michael Stapleton Vice Chair | OfficerTrustee | 0.25 | $0 |
Shanna Reynolds Treasurer | OfficerTrustee | 0.25 | $0 |
Tina Kyger Secretary | OfficerTrustee | 0.25 | $0 |
Jessica Ann Tyson Director | Trustee | 0.25 | $0 |
John Greko Immediate Past Chair | OfficerTrustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $26,300 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $202,225 |
| Noncash contributions included in lines 1a–1f | $111,697 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $228,525 |
| Total Program Service Revenue | $20,200 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $153,360 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$7,017 |
| Net Income from Gaming Activities | $1,116 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $396,184 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $4,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,613 |
| Fees for services: Accounting | $2,338 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $115,910 |
| Office expenses | $337 |
| Information technology | $148 |
| Royalties | $0 |
| Occupancy | $48,416 |
| Travel | $9,687 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,215 |
| Interest | $1,658 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $47,104 |
| Insurance | $0 |
| All other expenses | $1,577 |
| Total functional expenses | $291,650 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $275,287 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $956,544 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,231,831 |
| 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 | $938,364 |
| Total liabilities | $938,364 |
| Net assets without donor restrictions | $293,467 |
| 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 | $1,231,831 |