Overview
What is Bbb Institute For Marketplace Trust?
The Bbb Institute for Marketplace Trust is a nonprofit organization situated in Arlington, Virginia, specifically at 4250 North Fairfax Drive 600. Its primary mission is to promote consumer trust and ethical marketplace behavior. It achieves this goal by conducting research on consumer-business marketplace issues, educating both consumers and businesses, developing standards and best practices, and advocating for ethical conduct. Notably, in 2022, the Bbb Institute partnered with Amazon and Capital One to rebuild its BBB Scam Tracker platform, making it more user-friendly with advanced search features. This upgrade has led to a significant increase in reported scams and platform traffic.
Official website here: www.bbbmarketplacetrust.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Star rating)
The BBB Institute for Marketplace Trust has achieved a strong 96% rating from Charity Navigator, indicating high standards in accountability and finance. This score reflects the organization's commitment to transparency and effective governance, with all board members being independent and a comprehensive oversight structure in place.
Strengths of the organization include a solid program expense ratio of 76.81%, showcasing a significant portion of funds directed towards its programs. Additionally, the absence of material diversion of assets and the presence of various policies such as conflict of interest and whistleblower policies highlight the institute's dedication to ethical operations and financial integrity.
While the data does not specifically address any potential limitations, the organization's high rating suggests that it operates with a strong governance framework. Overall, the BBB Institute for Marketplace Trust stands out as a reputable nonprofit committed to its mission and responsible financial practices.
This AI summary has been generated from information found on Charity Navigator.
Is Bbb Institute For Marketplace Trust legitimate?
Bbb Institute For Marketplace Trust is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bbb Institute For Marketplace Trust submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $184,817
Professional Fundraising Fees: $0
Other Salaries and Wages: $207,478
For more financial information, click here
Official website here: www.bbbmarketplacetrust.org
What is the mission statement of Bbb Institute For Marketplace Trust?
The BBB Institute for Marketplace Trust seeks to foster consumer trust and promote ethical marketplace behavior. They accomplish this by conducting research on consumer and business marketplace issues, educating both consumers and businesses, developing standards and best practices, and advocating for ethical conduct. The organization's primary tool in achieving this mission is BBB Scam Tracker, an online platform that enables consumers to report scam activities. In 2022, the BBB Institute partnered with Amazon and Capital One to rebuild and improve the platform, making it more user-friendly and increasing the number of submitted reports and website traffic.
Official website here: www.bbbmarketplacetrust.org
Who is the CEO of Bbb Institute For Marketplace Trust?
Melissa Trumpower is the Board Chair of Bbb Institute For Marketplace Trust. The CEO's salary of Bbb Institute For Marketplace Trust is $0 and their total compensation is $441,254.
Official website here: www.bbbmarketplacetrust.org
What is the revenue of Bbb Institute For Marketplace Trust?
Bbb Institute For Marketplace Trust's revenue in 2022 was $736,250.
Official website here: www.bbbmarketplacetrust.org
Who are the executives of Bbb Institute For Marketplace Trust and what are their salaries?
There 9 volunteers at Bbb Institute For Marketplace Trust.
Here are 12 key members and their salaries (Bbb Institute For Marketplace Trust's CEO's salary is $0 and their total compensation is $441,254):
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $427,990
- Other: $13,264
- Compensation: $0
- Related: $154,237
- Other: $30,581
- Compensation: $0
- Related: $264,331
- Other: $36,081
- Compensation: $0
- Related: $235,689
- Other: $10,500
- Compensation: $0
- Related: $232,328
- Other: $32,375
Official website here: www.bbbmarketplacetrust.org
Where can I find the form 990 for Bbb Institute For Marketplace Trust?
Bbb Institute For Marketplace Trust's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.bbbmarketplacetrust.org
Learn more at the official website: www.bbbmarketplacetrust.org
Mission Statement of Bbb Institute For Marketplace Trust
The Bbb Institute for Marketplace Trust is dedicated to fostering consumer trust and promoting ethical marketplace behavior. To achieve this mission, the institution conducts research on consumer and business marketplace issues, provides education to both consumers and businesses, develops standards and best practices, and advocates for ethical conduct. By doing so, the Bbb Institute aims to create a marketplace where businesses operate with integrity and consumers can make informed decisions with confidence.
One of the key initiatives of the Bbb Institute is the Bbb Scam Tracker, an online tool that allows consumers to report scam activity. In 2022, the Bbb Institute partnered with Amazon and Capital One to upgrade the platform, making it more user-friendly and adding an advanced search function. As a result, the number of submitted reports increased by 58%, and traffic to the site saw a 105% boost (year over year). This update demonstrates the Bbb Institute's commitment to staying at the forefront of consumer protection and helping individuals identify and avoid scams.
In summary, the Bbb Institute for Marketplace Trust is a nonprofit organization committed to fostering trust and promoting ethical behavior in the marketplace. Through research, education, standard development, and advocacy, the Institute works to create a marketplace where businesses operate ethically and consumers can make informed decisions with confidence. The Bbb Scam Tracker is a prime example of the Institute's efforts to protect consumers and combat scams in the digital age.
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Impact
October, 2024
Bbb Institute For Marketplace Trust significantly enhances consumer trust and promotes ethical behavior within the marketplace. Through robust research on consumer and business interactions, it addresses critical issues that affect marketplace integrity.
One of its key initiatives, the upgraded BBB Scam Tracker, empowers consumers to report and identify scam activities. The tool has undergone a substantial transformation with partnerships from major companies like Amazon and Capital One, resulting in a more user-friendly interface and advanced search capabilities. The impressive 58% increase in submitted reports and a 105% rise in traffic since the launch clearly indicate heightened consumer engagement and awareness about potential scams.
Furthermore, the institute's focus on educating both consumers and businesses underlines its commitment to establishing standards and best practices. By fostering an environment of ethical conduct, the Bbb Institute not only protects individual consumers but also contributes to a healthier business ecosystem.
This information is meant to be a general summary of Bbb Institute For Marketplace Trust. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $2,550
- Program Service Revenue: $20,000
- Gross Receipts: $736,250
Assets and Liabilities:
- Total Assets: $832,189
- Total Liabilities: $417,651
- Net Assets: $414,538
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$20,000
Organization Details
Founding Year
2007
Phone
(703) 247-9339Principal Officer
Melissa Trumpower
Main Address
4250 NORTH FAIRFAX DRIVE 600, ARLINGTON, VA, 22203
Website
www.bbbmarketplacetrust.orgNTEE Category
Code: S40 - Community improvement
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