Better Business Bureau Of Central Oklahoma Inc
- Assets
- $1.7m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 31
- Location
- Okc, OK
- Founding
- 10/1951
- Data as of
- 12/2020
- EIN
- 73-0147260
Organization Overview
Better Business Bureau Of Central Oklahoma Inc is located in Okc, OK. The organization was established in 1951. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2020, Better Business Bureau Of Central Oklahoma Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Better Business Bureau Of Central Oklahoma Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2020, Better Business Bureau Of Central Oklahoma Inc generated $1.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $1.7m during the year ending 12/2020. While expenses have increased by 8.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
BETTER BUSINESS BUREAU OF CENTRAL OKLAHOMA IS A SOURCE OF UNBIASED INFORMATION FOR BOTH CONSUMERS AND BUSINESSES ABOUT THE INTEGRITY AND RELIABILITY OF LOCAL BUSINESSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BBB FURNISHES INFORMATION CONCERNING THE RELIABILITY OF BUSINESS FIRMS AND PERTINENT INFORMATION ON CHARITIES BY PHONE, IN PERSON, FAX, AND THE INTERNET TO ASSIST CONSUMERS IN MAKING INFORMED PRE-PURCHASE DECISIONS AND WHETHER OR NOT TO DO BUSINESS WITH COMPANIES OR CONTRIBUTE TO SOLICITING CHARITIES.BBB SERVES AS A CONCILIATOR IN MARKET PLACE DISPUTES FOR THE PURPOSE OF HELPING RESOLVE DISPUTES (ELIMINATING THE NEED FOR RESOLUTIONS IN COURT) AND FOR THE PURPOSE OF GATHERING INFORMATION ON COMPANIES FOR REPORTING TO THE PUBLIC.BBB ALSO DEVELOPS FILE REPORTS ON BUSINESS FIRMS AND CHARITY SOLICITORS THROUGH INVESTIGATIVE ADVERTISING REVIEW AND SHOPPING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kitt Letcher President & CEO | Officer | 40 | $137,700 |
Michael Kloiber Sec/treasurer | Officer | 1 | $0 |
Kelly Masters-Newton Chairman | Officer | 1 | $0 |
Dawn Holsted Vice Chairman | Officer | 1 | $0 |
David Brookshire Member | Trustee | 1 | $0 |
Claude Drabek Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,707,159 |
| Investment income | $2,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,717,887 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $137,700 |
| Compensation of current officers, directors, key employees. | $137,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $828,053 |
| Pension plan accruals and contributions | $25,492 |
| Other employee benefits | $70,327 |
| Payroll taxes | $75,743 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,035 |
| Fees for services: Accounting | $11,650 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,914 |
| Advertising and promotion | $41,395 |
| Office expenses | $59,554 |
| Information technology | $92,810 |
| Royalties | $0 |
| Occupancy | $17,191 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,635 |
| Interest | $6,272 |
| Payments to affiliates | $91,348 |
| Depreciation, depletion, and amortization | $58,390 |
| Insurance | $20,565 |
| All other expenses | $0 |
| Total functional expenses | $1,677,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,274 |
| Savings and temporary cash investments | $108,845 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $407,066 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,955 |
| Net Land, buildings, and equipment | $1,163,490 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,740,630 |
| Accounts payable and accrued expenses | $28,033 |
| Grants payable | $0 |
| Deferred revenue | $31,436 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $121,852 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $181,321 |
| Net assets without donor restrictions | $1,559,309 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,740,630 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Circuit Events Local Organizing Committee Austin, TX | $5,758,250 | $14,482,431 |
American Productivity & Quality Center Inc Houston, TX | $30,940,165 | $18,224,607 |
Dallas Tourism Public Improvement District Corporation Dallas, TX | $29,263,170 | $10,147,188 |
Better Business Bureau Of North Central Texas Inc Dallas, TX | $3,812,795 | $6,541,958 |
Arkansas Capital Corporation Little Rock, AR | $35,717,433 | $8,371,701 |
Open Compute Project Foundation Austin, TX | $5,357,330 | $7,132,647 |
San Antonio Tourism Public Improvement District Corporation San Antonio, TX | $8,579,205 | $6,386,484 |
William A Lawson Institute For Peace & Prosperity Houston, TX | $12,461,470 | $3,692,985 |
Denver Area Better Business Bureau Inc Inc Denver, CO | $0 | $3,899,799 |
Oklahoma Alliance For Manufacturing Excellence Inc Tulsa, OK | $2,792,871 | $3,651,596 |
Mid-America Manufacturing Technology Center Inc Lenexa, KS | $725,580 | $2,564,429 |
La Fe Preparatory School Inc El Paso, TX | $1,712,513 | $2,611,735 |