Overview
What is Better Buying Institute?
Better Buying Institute is a nonprofit organization based in Arlington, Texas, with a mission to foster responsible relationships between buyers and suppliers. They conduct independent research, gathering data to identify potential risks in supply chains and suggest improvements. Their two-pronged mission includes supporting buyers in treating suppliers as partners, understanding their impacts, and making continuous improvements, as well as empowering suppliers to engage openly with buyers and tackle shared business challenges. Their work resulted in record-breaking supplier ratings in 2022, highlighting issues like payment and order complexity. Better Buying Institute's research provides valuable insights, enabling repeat subscribers to progress and enhance their purchasing practices. The organization employs a team of 7 individuals.
Official website here: www.betterbuying.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Two-Star out of Four Stars (Needs Improvement, 72%)
The Better Buying Institute has received a two-star rating from Charity Navigator, indicating a need for improvement in its accountability and financial practices. While the organization boasts an impressive 83% of its board members being independent, it has significant gaps in transparency, particularly evident in the absence of financial statements and critical policies like a whistleblower and document retention policy.
The institute demonstrates a strong commitment to its program expenses, with a program expense ratio of 72.11%, reflecting effective allocation of resources towards its mission-driven activities. However, the lack of posted tax forms on its website and the missing whistleblower policy may raise concerns about overall transparency and governance practices.
Despite these limitations, the organization maintains a favorable liabilities to assets ratio of 50.96%, indicating a manageable level of debt relative to its assets. The compensation for key personnel is varied, with the president earning a salary of $188,892, which is on the higher end compared to other roles within the organization. Overall, while the Better Buying Institute has strengths in governance structure and program spending, it needs to enhance transparency and policy compliance.
This AI summary has been generated from information found on Charity Navigator.
Is Better Buying Institute legitimate?
Better Buying Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Better Buying Institute 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: $588,158
Professional Fundraising Fees: $0
Other Salaries and Wages: $28,443
For more financial information, click here
Official website here: www.betterbuying.org
What is the mission statement of Better Buying Institute?
The Better Buying Institute's mission is centered around fostering collaborative relationships between buyers and suppliers, promoting responsible purchasing practices. Their two-pronged objective includes helping buyers view suppliers as valued partners, leveraging feedback data for improved understanding and continuous improvement, and supporting suppliers in feeling secure while engaging with buyers and addressing shared business challenges. The organization's primary focus is on examining and transforming day-to-day business practices in the consumer goods sector, ensuring they support decent working conditions and minimize environmental impacts. They gather and provide insights to companies on potential risks in supply chains and offer suggestions for improvement, encouraging continuous progress in purchasing practices.
Official website here: www.betterbuying.org
Who is the CEO of Better Buying Institute?
Marsha Dickson is the President / Dir of Better Buying Institute.
Official website here: www.betterbuying.org
What is the revenue of Better Buying Institute?
Better Buying Institute's revenue in 2022 was $626,474.
Official website here: www.betterbuying.org
Who are the executives of Better Buying Institute and what are their salaries?
The average compensation at Better Buying Institute during 2022 was $88,086. There are 7 employees at Better Buying Institute.
Here are 8 key members and their salaries:
- Compensation: $177,630
- Related: $0
- Other: $7,729
- Compensation: $75,829
- Related: $0
- Other: $4,675
- 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
Official website here: www.betterbuying.org
Where can I find the form 990 for Better Buying Institute?
Better Buying Institute's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.betterbuying.org
Learn more at the official website: www.betterbuying.org
Mission Statement of Better Buying Institute
Better Buying Institute, a nonprofit organization, strives to revolutionize the relationship between buyers and their suppliers. Their primary objective is to foster a collaborative environment where both parties work together towards shared goals of profitability and sustainability, both socially and environmentally. Better Buying Institute achieves this by supporting buyers in treating their suppliers as valued partners, encouraging open communication through feedback data, and promoting continuous improvements in purchasing practices.
On the supplier side, the Institute aims to create a safe and confident environment for engagement with buyers. By providing a platform for suppliers to voice their concerns and suggestions, Better Buying Institute facilitates the co-creation of solutions to shared business challenges. The Institute's research plays a pivotal role in this mission by identifying potential risks in purchasing practices and offering insights on how to mitigate their impacts on suppliers, workers, and the environment. Their Better Buying Purchasing Practices Index and Better Buying Partnership Index serve as tools for companies to demonstrate their commitment to responsible purchasing practices and ongoing improvements.
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Impact
July, 2024
Better Buying Institute's impact lies in transforming the purchasing practices in the consumer goods sector towards supporting decent working conditions and reducing environmental impacts of production. Through its core research activities, Better Buying Institute provides valuable insights to companies and the industry on the potential risks posed by purchasing practices on supply chains and how to address them. By independently gathering data and encouraging companies to subscribe to indices like Better Buying Purchasing Practices IndexTM (BBPPI) and Better Buying Partnership IndexTM (BBPI), the Institute enables companies to demonstrate their commitment to responsible purchasing practices.
In 2022, Better Buying Institute saw record numbers of suppliers submitting ratings, indicating a growing awareness and engagement in improving purchasing practices. The insights gathered from suppliers not only highlight the challenges they face, such as financial pressures and lack of visibility into order planning, but also provide suggestions for solutions and best practices that can help buyers improve their interactions with suppliers.
As a result of Better Buying Institute's work, companies that subscribe to their indices are making continuous improvements in their purchasing practices, as tracked year-over-year with the data gathered. By fostering a culture of transparency, collaboration, and responsible business conduct between buyers and suppliers, Better Buying Institute is driving positive change towards more sustainable and ethical supply chains in the consumer goods industry.
This information is meant to be a general summary of Better Buying Institute. 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.
- Program Service Revenue: $520,101
- Gross Receipts: $626,474
Assets and Liabilities:
- Total Assets: $796,859
- Total Liabilities: $338,929
- Net Assets: $457,930
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM: CORE RESEARCH
Revenue
$499,371
PROGRAM: INNOVATIVE PROJE
PROGRAM: PLATFORM
PROGRAM: TRAINING
Revenue
$20,730
Organization Details
Founding Year
2019
Phone
(302) 690-5060Principal Officer
Marsha Dickson
Main Address
1510 POSTBRIDGE COURT, ARLINGTON, TX, 76012
Website
www.betterbuying.orgNTEE Category
Code: V20 - Social research
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