Better Business Bureau Of Minnesota Inc
- Assets
- $6.7m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 43
- Location
- Burnsville, MN
- Founding
- 09/1975
- Data as of
- 06/2024
- EIN
- 41-1245489
Organization Overview
Better Business Bureau Of Minnesota Inc is located in Burnsville, MN. The organization was established in 1975. 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 06/2024, Better Business Bureau Of Minnesota Inc employed 43 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Better Business Bureau Of Minnesota 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 06/2024, Better Business Bureau Of Minnesota Inc generated $4.9m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $5.4m during the year ending 06/2024. While expenses have increased by 2.3% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
BBB'S MISSION IS TO BE THE LEADER IN ADVANCING MARKETPLACE TRUST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACCREDITED BUSINESS SERVICES AND CONSUMER PROTECTION PROGRAMS - BBB ACTIVELY PARTICIPATES IN PUBLIC AFFAIRS AFFECTING BUSINESS AND CONSUMER INTERESTS AND COOPERATES WITH GOVERNMENTAL BODIES AND AGENCIES TO PROVIDE INFORMATION AND COUNSEL TO SUCH BODIES AND TO THE PUBLIC CONCERNING SUCH MATTERS. BBB ADVOCATES PUBLIC AND BUSINESS POLICIES IN THE BEST INTERESTS OF CONSUMER PROTECTION AND THE VIABILITY OF A FREE AND COMPETITIVE ECONOMY. PROGRAMS ARE DEVELOPED FOR ACCREDITED BUSINESSES IN SUPPORT OF SELF-REGULATION AND HIGH STANDARD OF BUSINESS ETHICS. MEASURES ARE TAKEN AND SERVICES ARE PERFORMED FOR THE PROTECTION OF CONSUMERS AGAINST UNSCRUPULOUS, UNCONSCIONABLE, FRAUDULENT, DECEPTIVE, AND UNETHICAL BUSINESS PRACTICES.
ARBITRATION AND MEDIATION - THESE SERVICES ARE PROVIDED IN ORDER TO RESOLVE OUTSTANDING DISPUTES BETWEEN CONSUMERS AND BUSINESSES BY PROVIDING SOLUTIONS TO THE DISPUTES WITHOUT THE EXPENSE AND LENGTH OF COURT.
ONLINE ACCREDITED BUSINESS DIRECTORY - BBB OF MINNESOTA AND NORTH DAKOTA OFFERS A BBB ACCREDITED BUSINESS ONLINE DIRECTORY TO HELP CONSUMERS FIND TRUSTWORTHY BUSINESSES FOR FREE. PEOPLE CAN SEARCH FOR BBB ACCREDITED BUSINESSES BY INDUSTRY/PROFESSION OR CITY. ALL ACCREDITED BUSINESSES ARE LISTED IN THEIR RESPECTIVE BUSINESS CATEGORIES FOR FREE; HOWEVER, BBB OFFERS AN OPPORTUNITY FOR ACCREDITED BUSINESSES TO BE LISTED IN HEADLINER/TOP POSITIONS IN THEIR CHOSEN CATEGORIES, OR ON THE FIRST PAGE OF THE ONLINE DIRECTORY FOR AN ADDITIONAL FEE. ACCREDITED BUSINESSES MAY ALSO PURCHASE "LOGO OR "COUPON" LISTINGS IN THE ONLINE DIRECTORY AS WELL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Aafedt Past Chair | OfficerTrustee | 1 | $0 |
John Owens Chair | OfficerTrustee | 1 | $0 |
Andy Kocemba Secretary | OfficerTrustee | 1 | $0 |
Jeff Baidoo Board Member | Trustee | 1 | $0 |
Louis Berezovsky Board Member | Trustee | 1 | $0 |
Rc Colvin Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Salo Llc Temp Employees In Finance And Hr | 6/29/22 | $233,330 |
Bbb Serving The Pacific Southwest Sales Reps That Work For Bbb Phoenix | 6/29/22 | $165,479 |
Sovran Inc It Services | 6/29/22 | $120,027 |
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 | $4,768,213 |
| Investment income | $55,933 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $8,450 |
| 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 | $4,865,502 |
| 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. | $899,297 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,447,477 |
| Pension plan accruals and contributions | $106,489 |
| Other employee benefits | $170,553 |
| Payroll taxes | $197,283 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,645 |
| Fees for services: Accounting | $33,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,185 |
| Advertising and promotion | $78,419 |
| Office expenses | $96,474 |
| Information technology | $270,710 |
| Royalties | $0 |
| Occupancy | $243,297 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $43,213 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $122,148 |
| Insurance | $45,766 |
| All other expenses | $8,829 |
| Total functional expenses | $5,429,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $161,658 |
| Savings and temporary cash investments | $303,803 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,761 |
| 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 | $79,446 |
| Net Land, buildings, and equipment | $2,476,117 |
| Investments—publicly traded securities | $2,484,014 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,207,980 |
| Total assets | $6,724,779 |
| Accounts payable and accrued expenses | $1,897,512 |
| Grants payable | $0 |
| Deferred revenue | $1,549,441 |
| 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 | $7,319 |
| Total liabilities | $3,454,272 |
| Net assets without donor restrictions | $3,270,507 |
| 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 | $6,724,779 |