Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.
| Return Reference | Explanation |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE BETTER BUSINESS BUREAU HAS ONE CLASS OF MEMBERSHIP: BBB ACCREDITATION/MEMBERSHIP. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY BBB'S OUTSIDE ACCOUNTANT AND PROVIDED TO MANAGEMENT FOR REVIEW (INCLUDING THE CONTROLLER). ONCE APPROVED BY MANAGEMENT, THE FORM 990 IS THEN DISTRIBUTED TO THE FULL BOARD OF DIRECTORS PRIOR TO ELECTRONICALLY FILING THE FORM 990 WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION CURRENTLY HAS IN PLACE A CONFLICT OF INTEREST POLICY THAT APPLIES TO ANY DIRECTOR, OFFICER, OR KEY EMPLOYEE, WHICH IT ANNUALLY MONITORS AND ENFORCES. THE BOARD MANDATES THAT ALL MEMBERS OF THE GOVERNING BODY ANNUALLY SIGN A CONFLICT OF INTEREST STATEMENT AND DISCLOSE ANY POTENTIAL OR ACTUAL CONFLICTS THAT MAY EXIST. ANY DIRECTOR, OFFICER OR KEY EMPLOYEE WHO HAS AN INTEREST IN A RELATED PARTY TRANSACTION SHALL DISCLOSE IN GOOD FAITH TO THE BOARD OF DIRECTORS OR THE AUDIT COMMITTEE OF THE BOARD THE MATERIAL FACTS CONCERNING SUCH INTEREST. INDIVIDUALS WITH SUCH RELATIONSHIPS SHALL NOT BE PRESENT DURING, OR PARTICIPATE IN, ANY BOARD OR BOARD COMMITTEE DELIBERATIONS OR VOTE ON ANY MATTERS GIVING RISE TO THE CONFLICT, OR POTENTIAL CONFLICT, OF INTEREST, INCLUDING, BUT NOT LIMITED TO, MATTERS DIRECTLY PERTAINING TO THE BUSINESS TO BE TRANSACTED WITH THE IDENTIFIED PERSON OR ORGANIZATION OR ON ISSUES THAT MAY RESULT IN ANY BENEFIT INURING TO THE IDENTIFIED PERSON OR ORGANIZATION. THE EXISTENCE OF ALL SUCH CONFLICTS OF INTEREST AND THEIR RESOLUTION, AS WELL AS ANY ISSUES RELATING TO THEM, SHALL BE FULLY DOCUMENTED IN THE ORGANIZATION'S RECORDS, INCLUDING THE MINUTES OF ANY MEETING AT WHICH THE CONFLICT WAS DISCUSSED OR VOTED ON. ANY AND ALL DOCUMENTATION DEEMED NECESSARY AND APPROPRIATE BY THE BOARD FOR THE SUFFICIENT EVALUATION AND RESOLUTION OF THE CONFLICT OR POTENTIAL CONFLICT SHALL BE SUBMITTED TO THE BOARD. |
| FORM 990, PART VI, SECTION B, LINE 15 | COMPENSATION OF THE PRESIDENT OF THE BETTER BUSINESS BUREAU IS REVIEWED ON AN ANNUAL BASIS USING MARKET DATE FOR COMPARABLE POSITIONS (SUCH AS FORM 990S OF SIMILAR SIZE ORGANIZATIONS), AND IS SET BY THE COMPENSATION COMMITTEE OF THE BBB BOARD, AND APPROVED BY THE BOARD OF DIRECTORS. RECORDS OF COMMITTEE'S COMPENSATION DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS WAS LAST UNDERTAKEN IN 2021. COMPENSATION FOR THE OTHER KEY EMPLOYEES AND EXECUTIVES ARE SET BY THE PRESIDENT AND CEO BY USING COMPARABLE DATA FROM FORM 990S OF SIMILAR SIZE ORGANIZATIONS AND THEN PRESENTED TO THE BOARD OF DIRECTORS FOR APPROVAL AS PART OF THE OVERALL ANNUAL BUDGET PROCESS. RECORDS OF THE COMPENSATION DECISIONS ARE MAINTAINED IN HUMAN RESOURCES DEPARTMENT RECORD. THIS PROCESS WAS LAST UNDERTAKEN IN 2021. |
| FORM 990, PART VI, SECTION C, LINE 19 | BBB MAKES ITS FORM 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE RETURN IS POSTED ON GUIDESTAR.ORG, CHARITIESNYS.COM AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION, THE FINANCIAL STATEMENTS, ARTICLES OF INCORPORATION AND BY-LAWS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY. |
| FORM 990, PART VII, SECTION A, COLUMN (A): | THE ORGANIZATION HAS SHARED EMPLOYEE ARRANGEMENTS WITH THE EDUCATION AND RESEARCH FOUNDATION OF THE BBB OF METRO NY, INC. (THE FOUNDATION). THE FOLLOWING EMPLOYEES ARE PAID BY THE BETTER BUSINESS BUREAU OF METROPOLITAN NEW YORK, INC., BUT A PORTION OF THEIR COMPENSATION IS ALLOCATED AND CHARGED TO THE FOUNDATION. SINCE W-2S ARE ISSUED BY THE BETTER BUSINESS BUREAU OF METROPOLITAN NEW YORK, INC., THE ENTIRE AMOUNT OF THEIR COMPENSATION IS REPORTED IN PART VII AND SCHEDULE J AS REPORTABLE COMPENSATION FROM THE ORGANIZATION. THE ALLOCATIONS ARE AS FOLLOWS: NAME: CLAIRE ROSENZWEIG TITLE: PRESIDENT AND CEO COMPENSATION ALLOCATED TO THE EDUCATION AND RESEARCH FOUNDATION OF THE BBB OF METRO NY, INC.: $47,500 COMPENSATION ALLOCATED TO THE BETTER BUSINESS BUREAU OF METROPOLITAN NEW YORK, INC.: $143,613 NAME: STEVEN LONDON TITLE: CONTROLLER COMPENSATION ALLOCATED TO THE EDUCATION AND RESEARCH FOUNDATION OF THE BBB OF METRO NY, INC.: $22,574 COMPENSATION ALLOCATED TO THE BETTER BUSINESS BUREAU OF METROPOLITAN NEW YORK, INC.: $90,297 NAME: LUANA LEWIS TITLE: SV PRESIDENT-PROGRAMS AND SERVICES COMPENSATION ALLOCATED TO THE EDUCATION AND RESEARCH FOUNDATION OF THE BBB OF METRO NY, INC.: $61,886 COMPENSATION ALLOCATED TO THE BETTER BUSINESS BUREAU OF METROPOLITAN NEW YORK, INC.: $41,257 |
| FORM 990, PART VIII, LINE 1E: | ON JANUARY 22, 2021, THE BBB QUALIFIED FOR AND RECEIVED A LOAN PURSUANT TO THE PAYCHECK PROTECTION PROGRAM ("PPP"), A PROGRAM IMPLEMENTED BY THE U.S. SMALL BUSINESS ADMINISTRATION ("SBA") UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT ("CARES ACT"), FROM A QUALIFIED PPP LENDER, FOR AN AGGREGATE PRINCIPAL AND INTEREST AMOUNT OF AMOUNT OF $712,222. (THE "PPP LOAN"). THE PPP LOAN BORE INTEREST AT A FIXED RATE OF .98% PER ANNUM, WITH THE FIRST SIX MONTHS OF INTEREST DEFERRED, HAD A TERM OF FIVE YEARS, AND WAS UNSECURED AND GUARANTEED BY THE SBA. THE PRINCIPAL AMOUNT OF THE PPP LOAN AND RELATED INTEREST WAS SUBJECT TO FORGIVENESS UNDER THE PPP UPON THE BBB'S REQUEST TO THE EXTENT THAT THE PPP LOAN PROCEEDS WERE USED TO PAY EXPENSES PERMITTED BY THE PPP. BBB APPLIED FOR FULL FORGIVENESS OF THE PPP LOAN WITH RESPECT TO THESE COVERED EXPENSES. IN OCTOBER 2021, THE PPP LOAN WAS FORGIVEN IN FULL BY THE SBA. |
| FORM 990, PART XII, LINE 2C: | THE BBB OF METRO NY HAS AN AUDIT COMMITTEE THAT IS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITORS. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. |
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