Street Business School does not meet the following 4 Standards for Charity Accountability:
Standard 1 (Oversight of Operations and Staff)
Organizations shall have a board of directors that provides adequate oversight of the charity's operations and its staff. Indication of adequate oversight includes, but is not limited to, regularly scheduled appraisals of the CEO's performance, evidence of disbursement controls such as board approval of the budget, fund raising practices, establishment of a conflict of interest policy, and establishment of accounting procedures sufficient to safeguard charity finances.
SBS does not meet this Standard because its board of directors does not:
- Have a voting member of the board who is assigned the responsibility of serving as the treasurer.
Standard 4 (Compensated Board Members)
Not more than one or 10% (whichever is greater) directly or indirectly compensated person(s) serving as voting member(s) of the board. Compensated members shall not serve as the board's chair or treasurer.
SBS does not meet this Standard because:
- Two voting board members out of the eight member board (25%) are directly and indirectly compensated. One voting board member is directly compensated as an employee of the organization and one is indirecty compensated as a family member of a paid employee.
Standard 12 (Detailed Functional Breakdown of Expenses)
Include in the financial statements a breakdown of expenses (e.g., salaries, travel, postage, etc.) that shows what portion of these expenses was allocated to program, fund raising, and administrative activities. If the charity has more than one major program category, the schedule should provide a breakdown for each category.
SBS does not meet this Standard because, in the organization's audited financial statements, the detailed functional breakdown of expenses:
- Only included one program service category. It did not include a detailed breakdown of expenses for each of its major program activities including immersion workshops, communications, Scale Up, learning lab, and monitoring and evaluation.
Standard 16 (Annual Report)
Have an annual report available to all, on request, that includes: (a) the organization's mission statement, (b) a summary of the past year's program service accomplishments, (c) a roster of the officers and members of the board of directors, (d) financial information that includes (i) total income in the past fiscal year, (ii) expenses in the same program, fund raising and administrative categories as in the financial statements, and (iii) ending net assets.
SBS does not meet this Standard because the 2020 annual report did not include:
- Total expenses for each program in the same categories that appear in the organization’s financial statements includingimmersion workshops, communications, Scale Up, learning lab, and monitoring and evaluation.
The BBB Wise Giving Alliance requested but did not receive complete information from the organization and is unable to verify the organization's compliance with the following Standard(s) for Charity Accountability:
3
7
13
15
Street Business School meets the remaining 12 Standards for Charity Accountability.
Street Business School (SBS) reports that it works to equip other organizations with entrepreneurial training geared towards women to help lift their families out of poverty. The organization offers a six-month, community classroom, that enables women to build confidence and develop the skills needed to create micro-businesses. To scale globally, SBS collaborates with mission-aligned organizations, Global Catalyst Partners (GCP), to combine and leverage SBS' training programs with GCP's cultural expertise within the local communities. In 2020, the organization states that it had 221 training coaches partnering with 98 organizations in 21 countries. In addition, SBS reports that 36,465 women participated in its entrepreneurial training programs.
For the year ended June 30, 2019, Street Business School's program expenses were:
| Communications |
$363,779 |
| Immersion workshops |
$299,837 |
| Scale Up |
$175,337 |
| Learning lab |
$118,001 |
| Monitoring and evaluation |
$99,373 |
| Total Program Expenses: |
$1,056,327 |
-
Chief Executive
Devin Hibbard, Co-Founder and Chief Executive Officer
-
Compensation*
$116,579
-
Chair of the Board
Barbara Lawson
-
Chair's Profession / Business Affiliation
Retired, Vice President of Administration and Finance, Cal State Monterey Bay
-
Board Size
8
-
Paid Staff Size
*2019 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Invitations to fund raising events, Telephone appeals
Fundraising costs were 2% of related contributions. (Related contributions, which totaled $2,015,510 are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c) (3) of the Internal Revenue Code.It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Street Business School's audited financial statements for the year ended June 30, 2019.
| Source of Funds |
| Foundations and corporations contributions |
$1,730,418 |
| Contribution of Street Business School, LLC |
$1,310,274 |
| Contributions |
$285,092 |
| Immersion workshop fees |
$41,415 |
| Other revenue |
$978 |
| Total Income |
$3,368,177 |
- Programs: 85%
- Administrative: 12%
- Fundraising: 3%
| Total Income |
$3,368,177 |
| Program expenses |
$1,056,327 |
| Fundraising expenses |
$45,818 |
| Administrative expenses |
$149,546 |
| Other expenses |
$0 |
| Total expenses: |
$1,251,691 |
| Income in Excess of Expenses |
$2,116,486 |
| Beginning Net Assets |
$0 |
| Other Changes In Net Assets |
$0 |
| Ending Net Assets |
$2,116,486 |
| Total Liabilities |
$85,744 |
| Total Assets |
$2,202,230 |