Overview
What is Better Business Bureau Inc?
Better Business Bureau Inc (BBB) is a nonprofit organization based in Phoenix, Arizona, with a presence in Southern California and Central, Northern, and Western Arizona. Established locally in 1938, BBB's mission is to create a marketplace where buyers and sellers can trust each other. To achieve this, the organization fosters a community of trustworthy businesses, sets high standards for marketplace trust, encourages best practices, and denounces substandard behavior. BBB accomplishes this through various initiatives, including providing objective advice, free business and charity reviews, and educational resources on marketplace trust-related topics. Furthermore, the bureau offers free dispute resolution services, such as mediation and arbitration, to help resolve conflicts between businesses and consumers. With over 20,225 accredited businesses, BBB supports its vision by creating a reliable and trustworthy business environment.
Is Better Business Bureau Inc legitimate?
Better Business Bureau Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Better Business Bureau Inc 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: $1,833,606
Professional Fundraising Fees: $0
Other Salaries and Wages: $8,259,804
For more financial information, click here
What is the mission statement of Better Business Bureau Inc?
The Better Business Bureau Inc strives to be a leading advocate for marketplace trust. It achieves this goal by building a community of ethical businesses, establishing trust standards, encouraging best practices, recognizing role models, and denouncing subpar marketplace behavior. The organization upholds high standards for fair and honest business conduct, with accredited businesses contractually agreeing to adhere to these principles. The Better Business Bureau provides objective advice, free business and charity reviews, and educational resources on marketplace trust-related topics. Additionally, it offers free dispute resolution services, including mediation and arbitration, to facilitate trust among buyers and sellers.
Who is the CEO of Better Business Bureau Inc?
Curt Hench is the President & Ceo of Better Business Bureau Inc. The CEO's salary of Better Business Bureau Inc is $487,203 and their total compensation is $520,002.
What is the revenue of Better Business Bureau Inc?
Better Business Bureau Inc's revenue in 2022 was $16,510,041.
Who are the executives of Better Business Bureau Inc and what are their salaries?
The average compensation at Better Business Bureau Inc during 2022 was $56,705. There are 178 employees and 43 volunteers at Better Business Bureau Inc.
Here are 54 key members and their salaries (Better Business Bureau Inc's CEO's salary is $487,203 and their total compensation is $520,002):
- Compensation: $487,203
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- Other: $32,799
- Compensation: $422,823
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- Other: $15,734
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Where can I find the form 990 for Better Business Bureau Inc?
Better Business Bureau Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Better Business Bureau Inc
Better Business Bureau Inc, a renowned organization, strives to be the leading advocate for marketplace trust. It achieves this mission by building a community of trustworthy businesses, establishing industry standards, encouraging best practices, recognizing role models, and condemning substandard marketplace behavior.
The Better Business Bureau sets and upholds high standards for fair and honest business conduct. Businesses that earn accreditation from the Bureau sign a contract to adhere to these standards. Founded locally in 1938, Better Business Bureau serves communities in Southern California and Central, Northern, and Western Arizona. The organization boasts the support of over 20,225 BBB accredited businesses.
Better Business Bureau offers objective advice, free business and charity reviews, and educational materials on topics related to marketplace trust. Additionally, it provides free dispute resolution services, including mediation and arbitration, to help realize its vision of a marketplace where buyers and sellers can trust each other.
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Impact
October, 2024
Better Business Bureau Inc plays a significant role in fostering trust within marketplace interactions. By setting and maintaining high standards for fair and honest business practices, it creates a community of reliable businesses that consumers can confidently engage with. The BBB’s accreditation process ensures that businesses adhere to these standards, promoting a culture of integrity and accountability.
Through its various initiatives, including the provision of free business reviews and educational resources, the BBB equips consumers with the necessary tools to make informed decisions. This transparency not only enhances consumer confidence but also encourages businesses to prioritize ethical practices, ultimately benefiting the entire marketplace.
Moreover, the BBB's dispute resolution services, such as mediation and arbitration, provide a constructive avenue for resolving conflicts between consumers and businesses. This proactive approach contributes to a more harmonious marketplace, where trust is nurtured and preserved.
Celebrating role models among accredited businesses further highlights exemplary practices, encouraging others to follow suit. By denouncing substandard behavior, the BBB actively combats dishonest practices, shaping a business environment that prioritizes trust and fairness. The organization’s impact is deeply rooted in its commitment to advancing marketplace trust, benefiting communities across Southern California and Arizona.
This information is meant to be a general summary of Better Business Bureau Inc. 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: $16,023,219
- Gross Receipts: $16,528,755
Assets and Liabilities:
- Total Assets: $13,521,438
- Total Liabilities: $6,549,345
- Net Assets: $6,972,093
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ACCREDITATION
Revenue
$12,830,120
SHARED SERVICES
Revenue
$1,505,776
SPONSORSHIP/ADV PROGRAMS
Revenue
$1,687,323
Organization Details
Founding Year
1938
Phone
(602) 264-1727Principal Officer
Curt Hench
Main Address
1010 E MISSOURI AVENUE, PHOENIX, AZ, 85014
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