Overview
What is Insurance Institute For Business & Home Safety?
The Insurance Institute for Business & Home Safety (IBHS) is a nonprofit research organization based in South Carolina. Housed at the IBHS Research Center, they carry out comprehensive testing on residential and commercial structures to assess their resilience against natural hazards, such as wind, fire, hail, and wind-driven water. Through full-scale testing of structures, examination of individual components and systems, and evaluation of test methods, IBHS employs transparent, science-driven research to strengthen homes and businesses against various causes of loss. With a mission to protect communities, they collaborate with various partners, including manufacturers, trade groups, and research organizations, to promote effective actions in mitigating the impact of natural hazards. Their dedicated team of 92 employees is committed to objective, scientific research in the pursuit of a safer built environment.
Official website here: www.disastersafety.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star rating)
The Insurance Institute for Business & Home Safety (IBHS) has received a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. This high score is based entirely on its robust financial practices, with an impressive 96% of board members being independent and a comprehensive audit and oversight committee ensuring rigorous financial oversight.
The organization excels in multiple areas, including a strong program expense ratio of 70.03%, indicating that a significant portion of its funds directly supports its mission-related activities. Additionally, the lack of material diversion of assets and a low liabilities to assets ratio of 5.89% further demonstrate its financial stability and prudent management.
However, it is important to note the organization's fundraising efficiency ratio of $0.002, which suggests that the cost of fundraising may be relatively high compared to the funds raised. This could indicate a need for improvement in fundraising strategies to enhance financial sustainability while continuing to support its important mission.
This AI summary has been generated from information found on Charity Navigator.
Is Insurance Institute For Business & Home Safety legitimate?
Insurance Institute For Business & Home Safety is a legitimate nonprofit organization registered as a 501(c)(3) entity. Insurance Institute For Business & Home Safety 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: $3,561,705
Professional Fundraising Fees: $0
Other Salaries and Wages: $6,323,603
For more financial information, click here
Official website here: www.disastersafety.org
What is the mission statement of Insurance Institute For Business & Home Safety?
The Insurance Institute for Business and Home Safety is dedicated to conducting research to help safeguard homes and businesses from various sources of damage. Its mission is to carry out objective, scientific studies to identify, assess, and advocate for effective measures that strengthen structures against natural hazards and other types of loss. At its state-of-the-art research center, the Institute conducts a range of tests, including full-scale experiments on residential and commercial structures, physical assessments of individual components, and evaluations of potential testing methods. By employing transparent research methods and forming partnerships with various organizations, the Institute aims to promote actions that enhance the resilience of homes, businesses, and communities.
Official website here: www.disastersafety.org
Who is the CEO of Insurance Institute For Business & Home Safety?
Roy Wright is the President/Ceo of Insurance Institute For Business & Home Safety. The CEO's salary of Insurance Institute For Business & Home Safety is $698,507 and their total compensation is $868,375.
Official website here: www.disastersafety.org
What is the revenue of Insurance Institute For Business & Home Safety?
Insurance Institute For Business & Home Safety's revenue in 2022 was $23,871,382.
Official website here: www.disastersafety.org
Who are the executives of Insurance Institute For Business & Home Safety and what are their salaries?
The average compensation at Insurance Institute For Business & Home Safety during 2022 was $107,449. There are 92 employees at Insurance Institute For Business & Home Safety.
Here are 39 key members and their salaries (Insurance Institute For Business & Home Safety's CEO's salary is $698,507 and their total compensation is $868,375):
- Compensation: $698,507
- Related: $0
- Other: $169,868
- Compensation: $367,873
- Related: $0
- Other: $51,460
- Compensation: $356,620
- Related: $0
- Other: $61,850
- Compensation: $327,051
- Related: $0
- Other: $53,468
- Compensation: $234,609
- Related: $0
- Other: $53,702
- Compensation: $225,276
- Related: $0
- Other: $48,631
- Compensation: $235,124
- Related: $0
- Other: $36,909
- Compensation: $183,892
- Related: $0
- Other: $45,402
- Compensation: $207,560
- Related: $0
- Other: $17,354
- Compensation: $193,513
- Related: $0
- Other: $27,003
- Compensation: $181,737
- Related: $0
- Other: $31,610
- Compensation: $142,891
- Related: $0
- Other: $41,974
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Official website here: www.disastersafety.org
Where can I find the form 990 for Insurance Institute For Business & Home Safety?
Insurance Institute For Business & Home Safety's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.disastersafety.org
Learn more at the official website: www.disastersafety.org
Mission Statement of Insurance Institute For Business & Home Safety
The Insurance Institute for Business and Home Safety (IBHS) is a research organization dedicated to fortifying homes and businesses against various sources of damage. Their mission is to carry out unbiased, scientific investigations to identify and promote effective measures that can strengthen structures against natural hazards and other causes of loss.
At the cutting-edge IBHS Research Center in South Carolina, IBHS executes a diverse range of tests to assess the influence of wind, fire, hail, and wind-driven rain on both residential and commercial structures. This research methodology encompasses full-scale testing of one- and two-story structures, physical evaluation of individual structural components and building systems, and the exploration of existing or prospective test methods and metrics. Transparent, objective research techniques are employed throughout the process. IBHS collaborates with manufacturers, trade associations, scientists, and other research institutions to coordinate and maximize the impact of their resources.
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Impact
October, 2024
The Insurance Institute for Business & Home Safety significantly impacts the safety and resilience of homes and businesses against various natural hazards and risks. Through their state-of-the-art research center in South Carolina, they conduct extensive testing on the effects of wind, fire, hail, and water on residential and commercial structures. Their research employs a comprehensive approach, involving full-scale tests of one- and two-story structures, detailed examinations of individual components, and assessments of current and potential testing methods.
By utilizing transparent and objective research methodologies, the Institute generates reliable data that informs best practices in construction and disaster preparedness. They work collaboratively with manufacturers, trade groups, and other research organizations to enhance the effectiveness of their findings. This collaboration ensures that the insights gained from their studies contribute to building stronger, more resilient communities, ultimately promoting public safety and reducing the risk of loss from natural disasters. Their mission drives a commitment to identify and promote effective actions that fortify structures and support the well-being of communities at risk.
This information is meant to be a general summary of Insurance Institute For Business & Home Safety. 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: $103,054
- Program Service Revenue: $659,885
- Gross Receipts: $25,766,168
Assets and Liabilities:
- Total Assets: $48,227,581
- Total Liabilities: $3,279,951
- Net Assets: $44,947,630
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
FORTIFIED Programs
Revenue
$582,191
Research Center Projects Contract
Revenue
$77,694
Organization Details
Founding Year
1977
Phone
(803) 723-3600Principal Officer
Roy Wright
Main Address
5335 Richburg Road, Richburg, SC, 29729
Website
www.disastersafety.orgNTEE Category
Code: M40 - Public safety
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