Lynchburg Sheltered Industries Inc
- Assets
- $2.2m
- Revenue
- $1.3m
- Investments
- $204.6k
- Employees
- 61
- Location
- Lynchburg, VA
- Founding
- 03/1965
- Data as of
- 06/2023
- 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 06/2023, Lynchburg Sheltered Industries Inc employed 61 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 06/2023, Lynchburg Sheltered Industries Inc generated $1.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $1.2m during the year ending 06/2023. 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
2023
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 |
|---|---|---|---|
Charles Felmlee Past Chairperson | Trustee | 0.3 | $0 |
Monique Minnick Vice Chairperson | OfficerTrustee | 0.3 | $0 |
Lasheika Mccoy Director | Trustee | 0.3 | $0 |
Robin Foutz Chairperson | OfficerTrustee | 0.3 | $0 |
Kenneth Selmer Treasurer | OfficerTrustee | 0.3 | $0 |
Jessica Robertson Secretary | OfficerTrustee | 0.3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $7,536 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,251 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,787 |
| Total Program Service Revenue | $782,263 |
| Investment income | $5,974 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $123 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $524,733 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,349,880 |
| 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. | $126,307 |
| Compensation of current officers, directors, key employees. | $25,262 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $582,112 |
| Pension plan accruals and contributions | $22,203 |
| Other employee benefits | $142,903 |
| Payroll taxes | $60,636 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,175 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,197 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $120,669 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $69,842 |
| Insurance | $36,145 |
| All other expenses | $14,642 |
| Total functional expenses | $1,237,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $624,870 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $7,600 |
| Accounts receivable, net | $360,276 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $161,664 |
| Prepaid expenses and deferred charges | $21,863 |
| Net Land, buildings, and equipment | $779,982 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $204,580 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,160,835 |
| Accounts payable and accrued expenses | $96,473 |
| 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 | $96,473 |
| Net assets without donor restrictions | $2,056,762 |
| Net assets with donor restrictions | $7,600 |
| 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 | $2,160,835 |