Bbb Wise Giving Alliance

“A draft of the irs form 990 is shared with the bbb wise giving alliance audit committee and board of directors prior to its submission to the irs, taking into account their comments.”

“Bbb wise giving alliance board members are annually asked to complete a conflict of interest form. No conflicts have arisen, so follow-up was not required.”

“The board of bbb wga sets goals and expectations for both the entity and the president & ceo. The board assesses the president & ceo's performance in meeting these goals on an annual basis. The board also considers comparable market data for ceo compensation.”

“Audited financial statements and other governing documents are made available upon request.”

“H. Art taylor ended his position at bbb wise giving alliance on march 31, 2025, and is now president & ceo of the association of fundraising professionals. The bbb wise giving alliance board promoted bennett weiner to serve as president & ceo, bbb wise giving alliance, effective april 1, 2025.”

“No changes to the oversight or selection process has been made during the tax year.”

“There was a prior period adjustment due to the 2023 accrual of deferred compensation.”

“For bbb wise giving alliance, 94% ($1,074,572) of its total liabilities ($1,140,503) are deferred accredited charity seal fees (contract liabilities), and not debt in the traditional sense of the word. There is no charge for charities to be evaluated in relation to the bbb charity standards. Charities that are found to meet the 20 bbb charity standards are called bbb accredited charities. They have the option to sign an agreement and pay a sliding-scale annual fee for the use of the bbb accredited charity seal on their website and fundraising materials. Seal fees are paid for a 12-month period, and an applicable portion is recognized each month as part of revenue. Each seal participant has an individual start date that reflects the date that they last signed the annual seal agreement. The portion of any annual seal fees that are not recognized as of 12/31/2024 were deferred as shown on irs form 990, part x, balance sheet, liabilities, line 19, "deferred revenue." this unearned revenue (deferred seal fees) appears as a liability because of how accounting recognizes this annual subscription/advance payment circumstance, not because it reflects real debt. In view of the above, bbb wise giving alliance believes that to calculate a more accurate recognition of its total liabilities to total assets ratio, the deferred seal fees should be omitted from liabilities. If so, then this ratio would be 12% instead of the 77% if one includes the deferred seal fees as a liability.”