The Foundation for the Malcolm Baldrige National Quality Award, Inc.

The Foundation for the Malcolm Baldrige National Quality Award, Inc. is a nonprofit organization designated as a 501(c)(3) entity, meaning donations to this organization are tax-deductible. It was established to support the objectives of the Malcolm Baldrige National Quality Award by providing a means for private sector funding. The foundation's primary roles include raising sufficient funds to establish an endowment that supplements fees from award applicants, overseeing the investment of endowment funds, reviewing program accomplishments, and disbursing required funds to the National Institute of Standards and Technology (NIST).

Purpose and Activities

The foundation's activities are aimed at ensuring the financial sustainability of the Malcolm Baldrige National Quality Award program. It supports the award's purpose of recognizing and promoting organizational performance excellence across various sectors in the United States. The award itself is not managed or influenced by the foundation; instead, it is administered by the Baldrige Performance Excellence Program at NIST.

Financial Overview

The organization's financial activities are primarily focused on contributions and other revenue. In recent years, contributions have made up the majority of its total revenue, with a smaller portion derived from other sources. Expenses are mainly allocated to executive compensation and other operational costs.

Governance and Leadership

The foundation is led by a board of trustees, which includes prominent organizational leaders who ensure that the foundation meets its objectives. The board's composition reflects a broad cross-section of organizations, aligning with the foundation's goal of supporting a national award program.

Role in the Baldrige Program

While the foundation plays a critical role in securing funding for the Malcolm Baldrige National Quality Award program, it does not have any oversight or involvement in the award process itself. The Baldrige Performance Excellence Program, managed by NIST, is responsible for all aspects of the award, including selection, evaluation, and presentation of recipients.