Better Business Bureau of Eastern Carolinas Inc

What it reported doing in 2024

Bbb works to promote and foster the highest ethical relationship between business and the public through voluntary self-regulation relationship education and service excellence. We do so through the following programs:1. Dispute resolution: 12,187 complaints handled and closed against accredited and non-accredited businesses in our service area in 20242. Business/charity reviews and consumer hotline: consumers can find information on businesses and charities from our comprehensive database. Consumers also seek information on scams. Inquiries can be made via website and phone. 2,966,485 inquiries in 2024.3. Ad reviews and investigations: 12 advertising reviews and investigations case handled.4. Customer reviews approved: consumers can leave both positive and negative reviews on businesses in our service area. Reviews are verified by bbb prior to being published. 8,631 customer reviews were approved by bbb.5. Arbitrations: offered to both accredited businesses, as well as consumers looking to resolve lemon law complaints. 17 arbitrations held in 20246. Outreach events, speeches, presentation, events reached 3,899 in 2024 7. Accredited business newsletter: 49,5528. Programs geared toward accredited businesses: big blue bash - in early november, 2024, bbb hosted the big blue bash in myrtle beach, sc, for the business community to network and learn more about bbb. The event was hosted outside of bbb's myrtle beach office and was a huge success with great interactions and socializations. In addition to the networking, bbb offered free professional headshots, incredible giveaways from local accredited businesses, and more. Sponsorship was key in making this a great event with barters in place to help cover food, dessert, and bartending services.bbb community shred events - bbb partnered with shred360 to host nine community shred events throughout the year across its service area. Communities served included: myrtle beach (3), georgetown, florence, wilmington (2), raleigh (2).bbb professional headshot events - in 2024, bbb held five headshot popup events and monthly headshot appointments for accredited businesses. Overall, we took and edited photos for approximately 200 individuals. Events took place in raleigh, greenville, myrtle beach (2), fayetteville, and florence. These events also doubled as networking opportunities and provided an additional touchpoint for bbb staff to connect with abs or non-abs learning more about our organization.bbb good guide to business podcast - the good guide to business podcast is focused on businesses, organizations, and local leaders who are going above and beyond the average. They're doing something extra for their community, the environment, their employees, or some other facet of their work. Hosts meredith radford, bbb's sr. Communications specialist, and nick hill, bbb's sr. Digital marketing specialist, released 14 episodes in 2024. They also designed and developed a new podcast studio space with updated equipment and soundproofing, along with fun and vibrant decor to create an environment that's inviting for podcast guests, viewers, and for accredited businesses to use in the future for their own projects.bbb new business roadmap - in spring 2024, bbb launched the new business roadmap, an online program that helps guide new entrepreneurs or new business owners as they get their company started. Modules include information on creating a business plan, the basics on marketing, and more. Bbb was able to sell sponsorships that would allow businesses to help the enrollees with any questions they may have on a particular topic that was covered in the program.media - throughout 2024, we were able to maintain strong relationships with all of the media contacts across our 48-county service area. This has led to regular television coverage with wtvd, wncn, and spectrum news (which reaches across nc) in the raleigh-durham dma as well as witn and wnct in the greenville-new bern-Washington dma. Bbb has work

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 1 of 6 controls in place; rating input score 17
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -6.9%; rating input score 17; 17th percentile among comparable filings
• Total-asset coverage ratio: 0.83; rating input score 31; 31st percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 97; 97th percentile among comparable filings
• Officer compensation ratio: 18%; rating input score 14; 14th percentile among comparable filings

Growth

• Program expense growth: 2.1% per year; rating input score 100; 23rd percentile among comparable filings
• Revenue growth: 5.9% per year; rating input score 100; 47th percentile among comparable filings
• Asset growth: 2.9% per year; rating input score 100; 24th percentile among comparable filings