2017
ANNUAL REPORT BBB DENVER/BOULDER
BBB Denver/Boulder 12-County Service Area
Boulder
Broomfield Denver
Gilpin
Adams
Clear Creek Jefferson
Arapahoe Douglas
Elbert
Washington
Yuma
BBB STANDARDS FOR TRUST
BUILD TRUST
Establish and maintain a positive track record in the marketplace.
OUR VISION ethical marketplace An
where buyers and
ADVERTISE HONESTLY
Adhere to established standards of advertising and selling.
TELL THE TRUTH
Honestly represent products and services, including clear and adequate disclosures of all material terms.
sellers can trust each other.
BE TRANSPARENT
Openly identify the nature, location, and ownership of the business, and clearly disclose all policies, guarantees, and procedures that bear on a customer’s decision to buy.
OUR MISSION leader in advancing marketplace trust Be the
HONOR PROMISES Abide by all written agreements and verbal representations.
BE RESPONSIVE
Address marketplace disputes quickly, professionally, and in good faith.
SAFEGUARD PRIVACY
Protect any data collected against mishandling and fraud, collect personal information only as needed, and respect the preferences of consumers regarding the use of their information.
EMBODY INTEGRITY
Approach all business dealings, marketplace transactions, and commitments with integrity.
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TO ACCOMPLISH OUR MISSION, WE COMMIT TO THE FOLLOWING VALUES TO GUIDE ALL OF OUR DECISIONS AND BEHAVIOR, WITH EACH OTHER AND WITH ALL THOSE WE SERVE .
OUR VALUES EXCELLENCE Strive to do our very best. Be accountable to the general public, our members, and to each other for everything we do. Commit to providing the highest quality service with excellence and consistency everywhere we operate.
INTEGRITY Be honest and ethical in all of our business activities. Treat everyone with integrity, keeping our promises and learning from our mistakes. Have the courage to hold fast to our professional convictions.
TEAMWORK Communicate, cooperate and collaborate freely across organizational and territorial boundaries, and work as one team to fulfill our mission.
TRUST Trust in our colleagues throughout the BBB system and in ourselves. Say what we mean and mean what we say. Communicate with honesty and candor.
RESPECT Treat everyone with respect and dignity, valuing individual and cultural differences. People are our fundamental asset. We will empower them to develop and use their talents and capabilities to the fullest.
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LOOKING TO THE FUTURE: 2018 GOALS BUDGET
GROWTH
CUSTOMERS
Meet budget of revenue over expenses
Grow ABs to 8,000
Evaluate our customer base and identify growth opportunities
40%
40%
5%
HISPANIC OUTREACH
PROGRAMS/PROJECTS
IMPACT ANALYSIS
Understand and engage our Hispanic Community
Evaluate current portfolio and manage our innovation pipeline
Understand and communicate our impact in a way that people care about.
5%
5%
5%
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BBB ACCREDITATION BBB Accreditation is offered to businesses that meet and maintain our eight Standards for Trust. BBB Accreditation raises the level of ethics in the business community and helps consumers and donors choose trustworthy organizations with which to interact. BBB Accredited Businesses and Accredited Charity Seal Holders support the BBB’s free public services and accreditation monitoring by paying annual dues. The highly-recognizable BBB logo is authorized only for Accredited Business and Accredited Charity Seal Holder use. The logo is a trademarked symbol that is synonymous with trust. Each business is provided a BBB Dynamic Seal for use on its website. In 2017, there were 67,817 dynamic seal clicks by consumers searching for a trusted BBB Accredited Business. As of December 31, 2017, there were 7,653 Accredited Businesses and Accredited Charity Seal Holders in the BBB Denver/Boulder’s 12-county area.
NEW BBB ACCREDITED BUSINESSES & CHARITY SEAL HOLDERS
1,511 463
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BBB ACCREDITATION & CHARITY SEAL HOLDER RENEWALS
$3.37
MILLION
BBB ACCREDITED BUSINESSES & CHARITY SEAL HOLDERS
7,653
NEW SALES REVENUE
RETENTION RATE
DYNAMIC SEAL CLICKS
$859,105 $972,367
88%
67,817
2017 BBB DENVER/BOULDER ANNUAL REPORT
STRENGTH OF THE BBB BRAND
LOCAL IMPACT MORE THAN
2.7 MILLION BUSINESS & CHARITY SEAL HOLDER PROFILES VIEWED
BBB is a private, nonprofit organization that provides services and programs to assist businesses, consumers, donors, and nonprofits. The focus of BBB’s activities is to promote an ethical marketplace by encouraging honest advertising and selling practices, effective dispute resolution, and accountability in the nonprofit sector. For more than 100 years, the Better Business Bureau has been helping people find businesses, brands and charities they can trust. In 2017, people turned to BBB more than 160 million times for BBB Business Profiles on more than 5.2 million businesses and Charity Reports on 11,000 charities, all available for free at bbb.org. There are local, independent BBBs across the United States, Canada and Mexico, including BBB Serving Denver/Boulder, which was founded in 1951 and serves 12 counties in central and eastern Colorado. 2017 BBB DENVER/BOULDER ANNUAL REPORT
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BBB LOCAL IMPACT
7,653 Accredited Businesses and Nonprofits
4,879,316 Total Website Page Views in 2017
794,235 Business & Nonprofit Profiles Read
67,817 Dynamic Seal Clicks
3,956,607 Unique Page Views in 2017
4,171
Request a Quote Emails Sent to Accredited Businesses
$ 6
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2017 BBB DENVER/BOULDER ANNUAL REPORT
15,894
71%
1%
28%
CUSTOMER REVIEWS Adding to the many free services BBB offers, BBB Customer Reviews provide consumers with the opportunity to post a ‘verified for authenticity’ review. BBB Customer Reviews give further insight into a company’s behavior and are processed by BBB staff to ensure validity. This program allows the customer to post a review on a business experience received to which the business can respond. In 2017 we had nearly 16,000 customer reviews at bbb.org/denver.
TOP 10 MOST INQUIRED ABOUT INDUSTRIES
TOP 10 MOST COMPLAINED ABOUT INDUSTRIES
1. 2. 3. 4. 5. 6. 7. 8. 9. 10.
1. Telephones................................ 3,688 2. Cable TV...................................... 2,104 3. TV Program Distributors........... 712 4. Contractor Referral.................... 542 5. Property Management................ 411 6. Internet Providers.......................407 7. New Car Dealers......................... 386 8. Money Orders............................... 338 9. Home Warranty Plans............... 338 10. Airlines............................................ 328
Roofing Contractors...........179,739 Contractor Referral..............78,898 Plumber..................................... 67,961 General Contractor............. 65,309 Painting Contractors............50,343 Landscape Contractors..... 44,007 Collection Agencies............ 43,948 Property Management.......... 41,421 Construction Services.........40,555 Heating Contractors........... 39,480
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BBB SCAM TRACKER BBB Scam Tracker provides consumers across North America with a place to report scams and fraud, and to warn others of malicious or suspicious activities. The free interactive online tool—found at bbb.org/scamtracker—offers a heat map showing where scams are being reported. Users can search using a variety of filters to see what scams are happening in their area, or track a particular type of scam, or even see how much money has been lost. Users can also report scams that they hear about, whether or not they have fallen victim. In addition, BBB Scam Tracker reports will also prompt BBB tips and alerts, or serve as the basis for investigations, news releases, warnings, and trends analysis. In 2017, there were 47,950 scams reported in the U.S. and Canada, and 881 reported in Colorado.
DISPUTE RESOLUTION in 2017 we closed 18,654 complaints with an 87.5% resolution rate. BBB acted as a neutral third party and as a facilitator for communications between the complainant and the organization that received the complaint, showing the ethical business practices that Accredited Businesses employ. We are proud that a large number of our BBB Accredited Businesses make a good-faith effort to resolve the issues raised by complainants. By providing BBB Business Profiles to the public, we hope to assist with resolution in all sectors of the marketplace. Unfortunately, problems still occur, which create a demand for dispute resolution services. BBB’s general complaint services are free to the public. 8
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ADVERTISING REVIEW With roots dating back to 1912, Advertising Review was BBB’s founding principle. The Ad Review program creates a space for advertisers to voluntarily substantiate claims made in their advertising. If no substantiation is available, the BBB Code of Advertising serves as a resource in modifying or discontinuing those claims. This program bolsters the relationship between BBB and our community and cultivates self-regulation within the marketplace. In 2017, 71 Ad Challenges were made to advertisers in our region and 87% of those challenges were resolved favorably.
ADVERTISING REVIEW CHALLENGES
71
INVESTIGATIONS
The Wise Giving Guide is published three times a year to help donors make more informed giving decisions. This guide includes a compilation of the latest evaluation conclusions completed by the BBB Wise Giving Alliance.
WISE GIVING B B B
W I S E
G I V I N G
A L L I A N C E
:
S P R I N G / S U M M E R
F u t u r Fundraise
TM
NUMBER OF INVESTIGATIONS
47
GUIDE
BBB maintains an effective investigations program that: proactively identifies marketplace practices that are deceptive, misleading, unethical, or should be called into question; seeks voluntary correction of such practices by the business involved; and informs the public of the existence of such practices and the action they may take to protect themselves from being victimized. BBB also advises and cooperates with appropriate law enforcement agencies seeking to eradicate such practices as needed.
2 0 1 8
CHARITY PROFILES VIEWED
ing
8,555 TIMES
ÂŽ
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FACEBOOK IMPRESSIONS
613,148
FACEBOOK LIKES
8,738
TWITTER FOLLOWERS
3,984
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SOCIAL MEDIA BBB significantly increased our social media presence and engagement in 2017 from previous years by prioritizing and implementing a specific, dynamic social media strategy. We focus our efforts on five major platforms: Facebook, Twitter, Instagram, LinkedIn, and YouTube. Our goal is to produce thoughtful posts for both businesses and consumers to keep the entire Denver area updated on the many resources and initiatives BBB implements to serve our marketplace. Looking ahead, we are committed to continuously explore new social media tactics and opportunities to increase engagement and remain relevant, such as the use of Instagram stories, expansion of Facebook advertising strategies, and multilingual and -cultural posts.
LINKEDIN FOLLOWERS
INSTAGRAM FOLLOWERS
555
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NEWS MEDIA APPEARANCES & INTERVIEWS
MEDIA
320 BBB Denver/Boulder is a respected voice in the media, delivering messaging to both the business and consumer base. News media regularly seek BBB’s expert advice on businesses, nonprofits, scams, and general information for consumers. BBB reaches the population through regular appearances through local television, radio and print media. In 2017, your BBB was featured in 320 interviews with over 5,955 earned media stories and mentions. BBB further developed partnerships with local government agencies to deliver joint messaging to the public via interviews on media outlet platforms.
EARNED MEDIA STORIES
5,955
LOCAL MEDIA PARTNERS PAID DIGITAL AD IMPRESSIONS
6,670,926
LOCAL NEWS MEDIA RELEASES
72
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ADVERTISING I KNOW A GUY BBB BRANDING CAMPAIGN In 2017 BBB built on our incredibly successful “I Know A Guy” campaign that launched in late 2016, and the results have been stellar, both for BBB campaigns and co-branded partner campaigns.
LAMAR BBB OUT-OF-HOME BRANDING & NCM BBB MOVIE THEATER BRANDING 45,699,720 Impressions BBB SMART REACH DIGITAL DISPLAY ADS 2,781,469 Impressions 9,810 Digital Clicks
iHEART RADIO DIGITAL DISPLAY ADS 2,300,003 Impressions 4,808 Digital Clicks
iHEART RADIO VIDEO ADS 931,519 Impressions 15,045 Digital Clicks
.35%
.21%
1.61%
INDUSTRY STANDARD CTR
INDUSTRY STANDARD CTR
.7%
.055%
.06
INDUSTRY STANDARD CTR
IWhere KNOW A GUY CO-BRANDED CAMPAIGN Accredited Businesses could capitalize on the power of the BBB’s campaign messaging. LAMAR BBB OUT-OF-HOME BRANDING RTD Buses 8,815,920 Impressions • Light Rail 1,324,224 Impressions NCM MOVIE THEATER ADS 469,839 Impressions CO-BRANDED EMAILS 125,000 Sent to Consumers 2,300,003 Impressions 4,808 Digital Clicks
CLICK RATE 11.6%
287% MORE THAN STANDARD CLICK RATE
INDUSTRY STANDARD CLICK RATE 3%
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SMART REACH DIGITAL DISPLAY ADS 4,681,303 Impressions 6,883 Digital Clicks
CLICK RATE .15%
200% MORE THAN STANDARD CLICK RATE
INDUSTRY STANDARD CLICK RATE .05%
The Denver/Boulder BBB Skeet Meet is an event benefitting free BBB outreach programs in our BBB SKEET MEET community, including youth ethics education and BBB MILITARY LINEÂŽ. Business professionals from various industries enjoyed a day of shooting, networking, food, drinks, and more. Sponsors had the opportunity to put their brand in front of a variety of business attendees dedicated to furthering the BBB mission of raising up an ethical workforce for tomorrow and supporting our military members, families, and veterans.
BBB and Regis University WELL Center College of Business and Economics partnered to create the Elevating Ethics Scholarship Award Ceremony and Panel in May 2017. On this evening, over 60 attendees 2017 Scholarship Winners joined us to honor the 2017 Student of Integrity Scholarship Recipients and hear from a panel of business professionals on how to handle the complex topic of ethics in the workplace. BBB also announced a new partnership with Denver Scholarship Foundation, who agreed to match BBB raised scholarship funds dollar for dollar so we can double our impact for local students in need of scholarships.
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NETWORKING, AWARDS, EDUCATION & COMMUNITY OUTREACH
A Fun Night of Gaming, Music, and Food!
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2017 BBB DENVER/BOULDER ANNUAL REPORT
Each year, BBB Denver/Boulder recognizes its Accredited Businesses and Charity Seal Holders with a celebration and thank you where they can connect with other business leaders while enjoying an exciting night out. Moonlight Over Monte Carlo offered a fun-filled evening of casino gaming, music, food and drinks to nearly 300 in attendance.
TH
BUSINES S•
R I• O OWTH GR
BBB ROI SERIES ®
Results of Integrity
ROI Seminars are designed to bring practical training material to all businesses and nonprofits throughout the year. These lunch and learn events cover a wide variety of topics and allow for questions and answers as well as networking time with those in attendance. In 2017 there were seven ROI Seminars in 2017 educating 217 attendees.
The 2017 E-Cycle event brought in almost 5,000 cars within a five hour period, where 306,000 pounds of electronics were recycled, and over $11,000 was raised for Denver Metro Crime Stoppers.
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The 2017 Torch Awards were held on October 19 at the beautiful Infinity Park Event Center in Glendale. The ceremony featured emcee Kirk Yuhnke of FOX31 Denver, keynote speaker Colorado Attorney General Cynthia Coffman, and attracted nearly 350 attendees.
2017 TORCH AWARD WINNERS NONPROFIT
SMALL BUSINESS
MEDIUM BUSINESS
LARGE BUSINESS
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2017 BBB DENVER/BOULDER ANNUAL REPORT
BBB DENVER/BOULDER
FOUNDATION BBB: TODAY’S MARKETPLACE Supporting Ethical Interaction
Consumers Businesses Nonprofits Vulnerable Populations
BBB FOUNDATION: TOMORROW’S MARKETPLACE Securing an Ethical Future
Youth Students Tomorrow’s Workforce Tomorrow’s Leaders
2017 FINANCIAL ACTIVITY
Assets
$94,347
Expenses
$154,765
$109,817
OUR VISION Tomorrow’s marketplace: one of trust and integrity.
51%
Program Services
40% g& t isin en dra opm Funevel D
Revenue & Support
Management & General
OUR MISSION To support the future of the Denver/Boulder business community, raising up an ethical
marketplace for tomorrow, by creating both ethics education and opportunities for students and youth. 2017 BBB DENVER/BOULDER ANNUAL REPORT
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2017 SCHOLARSHIP DONORS
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BBB partnered with Denver Scholarship Foundation in 2017 to double our impact for local students in need of college scholarships. This program awards scholarships to low-income graduates of Denver Public Schools—who are primarily from minority backgrounds—to enroll in a four-year, two-year or technical college in Colorado. BBB’s entire investment, funded primarily through the generosity of Accredited Businesses, is doubled in a match provided by the Colorado Opportunity Scholarship Initiative to support additional scholarships. “Our mission cannot be met alone; it must happen through intentional and strategic collaboration and partnerships like the DSF and BBB Named Scholarship. BBB is leading the way in Denver to solve our post-education attainment crisis. I sincerely hope other community-minded businesses in Denver will take notice of the incredible impact partnerships like these offer and follow in the footsteps of BBB,” shares Ashleigh Arnall, DSF’s Associate Director of Development. BBB has become a leading nonprofit partner with DSF by establishing this scholarship fund. The scholarship allows students to expand their opportunities and horizons for success in life as contributing members of our community. BBB is leading the way, by maximizing the impact of their funds—a good steward of dollars that make a life changing difference. “BBB saw this partnership as the perfect solution for us to continue supporting area students in their post-secondary pursuits without the administrative burden of managing a scholarship program. Not only do we get to continue to have meaningful engagement with students through that support, we can align with a high-results organization that ensures our impact is doubled,” shares Kim States, President and CEO of BBB. To date, DSF has provided 6,310 Scholars with $36 million in scholarships. In addition, $380 million in other gift aid has been facilitated by DSF on behalf of DPS students applying to postsecondary programs. 2017 BBB DENVER/BOULDER ANNUAL REPORT
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BBB BOARD OF DIRECTORS Support and leadership are crucial, and we are grateful for the time
2017 BBB BOARD OFFICERS CHAIR Greg Livin Principal CPA, CCIFP, CGMA—Stratagem CPAs FOUNDATION CHAIR Lisa McAlister Principal—With Good Cause, Inc. CHAIR-ELECT James Horning President—Core Contractors FOUNDATION CHAIR-ELECT Jennifer Mayes President—Cardinal Compass Wealth Management SECRETARY Carlos Pacheco C hief Executive Officer—Premier Members Credit Union FOUNDATION SECRETARY Tom Brock Publisher—Brock Media TREASURER Sue Fuqua President—Mile High Networks, Inc. FOUNDATION TREASURER David Brown Vice President/Sr. Relationship Manager—Key Bank, NA IMMEDIATE PAST CHAIR Vicki Pine Director of Administrative Services—Swingle Lawn, Tree and Landscape Care FOUNDATION IMMEDIATE PAST CHAIR Christopher Stengle Director of Business Development—Public Service Credit Union
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2017 BBB DENVER/BOULDER ANNUAL REPORT
BBB BOARD OF DIRECTORS and talent brought to the BBB by our volunteer board. Thank you!
2017 BBB BOARD OF DIRECTORS
Stephen Boane President/CEO—Traemand Chuck Born Founder—Broadcast7 Media
Bill Cook President—Howard Lorton Galleries
Brian Cook President/CEO—Perfect Processing
John Eckstein Director and Attorney—Fairfield & Woods, PC
Jaleh Gerdemann CPA
Erin Iwata VP Digital Marketing—Heinrich Marketing Scott Kaplan Co-Founder & Chairman—Ratio Beerworks
Daniel Olvera Leal Co-Founder/Purchasing Manager—ALAS International/Unfi Denis M. Murray Executive Director—The Children’s Treehouse
Kim Ritter Director—Minor & Brown PC
Michael Watkins Co-Founder—Impact Employees Richard Whipple CEO CPA MTAX—Whipplewood CPAs, PC Eugene Wilkerson Associate Professor & Director Workforce, Employment & Lifelong Learning Center—Regis University
Matt Zurcher Senior Vice President - Operations—HomeAdvisor
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BBB Denver/Boulder is a membership-based nonprofit 501(c)(6) organization dedicated to promoting and fostering the highest ethical relationship between businesses and the public through voluntary selfregulation, consumer and business education, and service excellence. Founded locally in 1951 and an active member of the Council of Better Business Bureaus (CBBB) based in Arlington, Virginia, BBB Denver/ Boulder offers free information on businesses and charities in addition to dispute resolution, mediation, and arbitration services. BBB provides 24-hour services through its automated inquiry line at 303.758.2100 and website at BBB.org.
The BBB Foundation is a 501(c)(3) nonprofit dedicated to consumer, business and marketplace education. Our offices are located at 3801 E. Florida Avenue, Suite 350, Denver, Colorado 80210. Donations to the BBB Foundation may be tax deductible as a charitable contribution; some donations may be tax deductible as a business expense for corporations. All sponsorship monies and funds collected will be considered as unrestricted unless the donor requests that the funds be used for a specific purpose.
3801 E. Florida Avenue, Suite 350 Denver, Colorado 80210 303.758.2100 BBB.ORG July 2, 2018
This publication designed by Vickie Denham, Graphic Design Senior Coordinator, BBB Denver/Boulder.