Bbb Wise Giving Alliance

“On june 27, 2023, the bbb wise giving alliance (bbb wga) board of directors approved the following changes for its bylaws. (1) references to the council of better business bureaus were updated with its new name "international association of better business bureaus (iabbb). (2) a statement was added noting "bbb wga's vision is a trustworthy charitable community that the public supports with confidence." (3) a statement was updated noting "bbb wga's mission is strengthening public confidence in charities by promoting wise giving and trustworthy charity practices." (4) the purposes of the organization were updated to state: bbb wga will be "providing information to donors to help them make wise giving decisions, by (a) advancing high standards of conduct among organizations which solicit charitable contributions from the public, (b) completing evaluative reports on charities based on trustworthy charity practices and providing free access to those reports, and (c) assisting in the resolution of complaints against charitable organizations through communications with complainants and charities. (5) article iii, section 1, includes a revised definition of a fundamental transaction that would need approval from iabbb: "fundamental transaction means a material transaction significantly affecting the bbb brand." (6) article iii, sections 2 and 5, the minimum number of board members was revised to: eleven. Also, the bbb wga board will include the iabbb president/ceo, or a person designated by them who is familiar with bbb wga's mission and work, and will serve as an ex-officio, non-voting member. The iabbb president will serve on the board while they are in office. (7) article iii, section 7, was amended to recognize that video conferencing will be considered an in-person meeting. (8) a new section 3 was added to article iv, that defines the members of the audit committee. (9) article vi, section 1, amendments to bylaws was updated to reflect that the bbb wga board can approve and adopt bylaw changes with the exception of fundamental transactions as defined in article iii that would require iabbb approval.”

“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.”