Overview
What is Bank Information Center?
Bank Information Center (BIC) is a nonprofit organization situated in Washington D.C., specifically at 1023 15th Street NW 10th Floor. Their primary objective is to advocate for improved policies at International Financial Institutions (IFIs), with a particular focus on strengthening environmental and social standards, accountability frameworks, and opportunities for stakeholder engagement. BIC primarily works with the World Bank Group, as the primary standard-setter for IFIs, but also responds to opportunities at regional development banks and key trust funds to enhance policies across various institutions. BIC partners with civil society to highlight risks and improve the transparency, accountability, and sustainability of development finance, promoting social, ecological, and economic justice by amplifying local voices and democratizing development. They currently have a team of 19 dedicated individuals working towards their mission.
Official website here: www.bankinformationcenter.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100%, Four-Star out of Four Star rating.
The Bank Information Center has achieved an exceptional rating of 100% from Charity Navigator, reflecting strong accountability and finance practices. The organization boasts a perfect score in various governance aspects, including an entirely independent board and robust financial oversight, indicating a solid commitment to transparency and responsible management of resources.
Strengths highlighted include their effective use of funds, with an impressive program expense ratio of 83.14%, showcasing a significant dedication to their mission and direct programmatic work. Additionally, they maintain comprehensive policies regarding conflicts of interest and whistleblower protections, further underscoring their commitment to ethical standards and operational integrity.
While the ratings are overwhelmingly positive, there were no noted limitations or concerns in the data provided. Overall, the Bank Information Center exemplifies a well-managed nonprofit organization that prioritizes accountability, financial health, and ethical governance.
This AI summary has been generated from information found on Charity Navigator.
Is Bank Information Center legitimate?
Bank Information Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Bank Information Center 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: $146,738
Professional Fundraising Fees: $0
Other Salaries and Wages: $1,107,996
For more financial information, click here
Official website here: www.bankinformationcenter.com
What is the mission statement of Bank Information Center?
The Bank Information Center (BIC) advocates for social, ecological, and economic justice by amplifying local voices and democratizing development. Their mission is to promote transparency, accountability, sustainability, and inclusion at multilateral development banks. The organization works towards improved policies at International Financial Institutions (IFIs), primarily focusing on stronger environmental and social standards, robust accountability frameworks, and enhanced opportunities for stakeholder engagement. BIC's strategic focus remains on the World Bank Group, as the primary standard-setter for IFIs, but also extends to regional development banks and key trust funds to strengthen policies across institutions, contributing to upward harmonization of standards.
Official website here: www.bankinformationcenter.com
What is the revenue of Bank Information Center?
Bank Information Center's revenue in 2023 was $2,911,758.
Official website here: www.bankinformationcenter.com
Who are the executives of Bank Information Center and what are their salaries?
The average compensation at Bank Information Center during 2023 was $64,241.
Here are 9 key members and their salaries:
- Compensation: $146,738
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- Other: $0
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Official website here: www.bankinformationcenter.com
Where can I find the form 990 for Bank Information Center?
Bank Information Center's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.bankinformationcenter.com
Learn more at the official website: www.bankinformationcenter.com
Mission Statement of Bank Information Center
The Bank Information Center, or BIC, is a nonprofit organization that collaborates with civil society to highlight and enhance the transparency, accountability, and sustainability of development finance. Their mission is to advocate for social, ecological, and economic justice, amplifying local voices and democratizing development. Specifically, BIC aims to promote greater transparency, accountability, sustainability, and inclusion at multilateral development banks.
In pursuit of this mission, BIC works towards improved policies at international financial institutions (IFIs), particularly in the areas of stronger environmental and social standards, robust accountability frameworks, and expanded opportunities for stakeholder engagement. Their strategic focus primarily revolves around the World Bank Group, as the primary standard-setter for IFIs, but they also respond to opportunities at regional development banks and key trust funds to strengthen policies across institutions. This approach is intended to support upward harmonization of standards, aiming to foster positive change and promote a more equitable and sustainable development landscape.
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Impact
July, 2024
Bank Information Center partners with civil society to spotlight the risks and improve the transparency, accountability, and sustainability of development finance. By working towards improved policies at international financial institutions, primarily in the areas of stronger environmental and social standards, accountability frameworks, and stakeholder engagement, Bank Information Center contributes to promoting social, ecological, and economic justice. Their advocacy for greater transparency, accountability, sustainability, and inclusion at multilateral development banks amplifies local voices and democratizes development, ultimately making a positive impact on global development practices.
This information is meant to be a general summary of Bank Information Center. 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 2023.
- Investment Income: $98,927
- Gross Receipts: $2,911,758
Assets and Liabilities:
- Total Assets: $3,158,517
- Total Liabilities: $1,378,126
- Net Assets: $1,780,391
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Organization Details
Founding Year
1988
Principal Officer
Stewart Ross
NTEE Category
Code: Z99Z - Unknown
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