Lynchburg Sheltered Industries Inc
- Assets
- $2.0m
- Revenue
- $1.2m
- Investments
- $189.3k
- Employees
- 67
- Location
- Lynchburg, VA
- Founding
- 03/1965
- Data as of
- 06/2022
- EIN
- 54-0741120
Organization Overview
Lynchburg Sheltered Industries Inc is located in Lynchburg, VA. The organization was established in 1965. According to its NTEE Classification (J33) the organization is classified as: Sheltered Employment, under the broad grouping of Employment and related organizations. As of 06/2022, Lynchburg Sheltered Industries Inc employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lynchburg Sheltered Industries Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Lynchburg Sheltered Industries Inc generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $1.2m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (3.9%) per year over the past 7 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST PEOPLE WITH DISABILITIES OR DISADVANTAGES ACHIEVE GREATER INDEPENDENCE AND SELF-ESTEEM THROUGH VOCATIONAL TRAINING AND EMPLOYMENT OPPORTUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE REMUNERATIVE EMPLOYMENT TRAINING FOR HANDICAPPED INDIVIDUALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cecil Kendrick Executive Director | Officer | 40 | $106,556 |
Charles Felmlee Chairperson | OfficerTrustee | 0.3 | $0 |
Gary Campbell Vice Chairperson | OfficerTrustee | 0.3 | $0 |
George Vaughan Treasurer | OfficerTrustee | 0.3 | $0 |
Dick Potekhen Director | Trustee | 0.3 | $0 |
Monique Minnick Director | Trustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $8,453 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,992 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,015 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $41,460 |
| Total Program Service Revenue | $631,930 |
| Investment income | $12,732 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$309 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $479,496 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,165,309 |
| 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. | $124,242 |
| Compensation of current officers, directors, key employees. | $22,364 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $563,494 |
| Pension plan accruals and contributions | $17,032 |
| Other employee benefits | $142,058 |
| Payroll taxes | $57,930 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,200 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,358 |
| Advertising and promotion | $520 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $130,823 |
| Travel | $169 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $66,726 |
| Insurance | $27,909 |
| All other expenses | $13,720 |
| Total functional expenses | $1,200,772 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $546,152 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $8,252 |
| Accounts receivable, net | $316,936 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $191,152 |
| Prepaid expenses and deferred charges | $22,169 |
| Net Land, buildings, and equipment | $771,553 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $189,331 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,045,545 |
| Accounts payable and accrued expenses | $103,442 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $103,442 |
| Net assets without donor restrictions | $1,918,851 |
| Net assets with donor restrictions | $23,252 |
| 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 | $2,045,545 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Lynchburg Sheltered Industries Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Organization Name not Listed PURPOSE: TO SUPPORT REPLACEMENT OF SMOKE DETECTOR SYSTEM | | $15,000 |
Endowment Analysis
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coastal Enterprises Of Jacksonville Inc Jacksonville, NC | $28,700,774 | $9,959,201 |
Jackson County Developmental Center Inc Millwood, WV | $3,126,310 | $5,044,000 |
Sw Resources Inc Parkersburg, WV | $3,802,865 | $5,085,647 |
Watauga Opportunities Inc Boone, NC | $6,174,593 | $4,894,434 |
Liberty Corner Enterprises Inc Asheville, NC | $1,499,174 | $4,141,112 |
Workwell Industries Inc Louisville, KY | $3,015,250 | $4,309,414 |
Opportunities Inc Lanham, MD | $11,459,241 | $5,505,217 |
Polk County Sheltered Workshop Inc Columbus, NC | $2,694,853 | $2,928,986 |
Tamarlane Industries Beaver Dam, KY | $2,805,000 | $3,276,754 |
Rochelle Center Nashville, TN | $4,236,048 | $3,830,558 |
Union Diversified Industries Inc Monroe, NC | $2,733,673 | $2,447,061 |
Wayne Opportunity Center Inc Goldsboro, NC | $2,444,644 | $2,788,957 |