Industries Of The Blind Inc
- Assets
- $16.5m
- Revenue
- $7.3m
- Investments
- $0.0
- Employees
- 332
- Location
- Greensboro, NC
- Founding
- 09/1956
- Data as of
- 09/2021
- EIN
- 56-0532308
Organization Overview
Industries Of The Blind Inc is located in Greensboro, NC. The organization was established in 1956. According to its NTEE Classification (J30) the organization is classified as: Vocational Rehabilitation, under the broad grouping of Employment and related organizations. As of 09/2021, Industries Of The Blind Inc employed 332 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Industries Of The Blind 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 09/2021, Industries Of The Blind Inc generated $7.3m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 26.0% each year . All expenses for the organization totaled $3.2m during the year ending 09/2021. While expenses have increased by 3.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE OPPORTUNITIES FOR EMPLOYMENT AND PERSONAL DEVELOPMENT FOR PEOPLE WHO ARE BLIND OR VISUALLY IMPAIRED TO ACHIEVE GREATER INDEPENDENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE OPPORTUNITIES FOR EMPLOYMENT AND PERSONAL DEVELOPMENT FOR PEOPLE WHO ARE BLIND OR VISUALLY IMPAIRED TO ACHIEVE GREATER INDEPENDENCE. INDUSTRIES OF THE BLIND, INC. OPERATES A MANUFACTURING, ASSEMBLY, AND DISTRIBUTION SERVICE BUSINESS THAT EMPLOYS BLIND AND SIGHTED PEOPLE IN ORDER TO PROVIDE THEM THESE OPPORTUNITIES FOR EMPLOYMENT AND PERSONAL DEVELOPMENT. THE MANUFACTURING CONSISTS OF TEXTILE CUTTING AND SEWING FOR PRODUCTION OF MILITARY UNIFORMS, CLOTHING, AND COMMERCIAL GOODS. THE BLIND AND SIGHTED EMPLOYEES OF INDUSTRIES OF THE BLIND, INC. ALSO MANUFACTURE AND ASSEMBLE A VARIETY OF OFFICE SUPPLY AND SANITATION PRODUCTS INCLUDING WRITING INSTRUMENTS, CLIPBOARDS, MOPS, BROOMS, AND A VARIETY OF OTHER ITEMS. THE PROCESS TEACHES SEWING SKILLS, WORKING WITH FABRICS, AND MECHANIZED PROCEDURES TO THE BLIND AND SIGHTED EMPLOYEES. AS OF SEPTEMBER 30, 2021, INDUSTRIES OF THE BLIND EMPLOYS 145 BLIND AND 100 SIGHTED PEOPLE. REVENUE SHOWN ABOVE IS NET OF COST OF GOODS SOLD EXPENSES ON THE FORM 990, PART VIII, LINE 10B.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joshua Gould President And CEO | Officer | 40 | $250,140 |
Victor Martin Director Of Finance And It | Officer | 40 | $121,909 |
Susan Williams Director Of Human Resources | 40 | $119,191 | |
John Richtarik Director Of Manufacturing, Engineering And Quality | 40 | $115,552 | |
Mark Nelson Chairperson | OfficerTrustee | 3 | $0 |
Jason Strange 1st Vice Chair | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Industries For The Blind Commissions | 9/29/21 | $523,938 |
Hollingsworth Capital Partners Facility Services | 9/29/21 | $476,226 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,548,638 |
| All other contributions, gifts, grants, and similar amounts not included above | $70,103 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,618,741 |
| Total Program Service Revenue | $0 |
| Investment income | $72,832 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $531,616 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $3,062,705 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,286,566 |
| 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. | $680,692 |
| Compensation of current officers, directors, key employees. | $205,684 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $902,887 |
| Pension plan accruals and contributions | $271,140 |
| Other employee benefits | $42,444 |
| Payroll taxes | $102,523 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,134 |
| Fees for services: Accounting | $106,234 |
| Fees for services: Lobbying | $40,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,792 |
| Fees for services: Other | $0 |
| Advertising and promotion | $11,006 |
| Office expenses | $123,494 |
| Information technology | $86,147 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $23,092 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,981 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $126,266 |
| All other expenses | $100,952 |
| Total functional expenses | $3,238,752 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $24,132 |
| Savings and temporary cash investments | $1,612,617 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,333,676 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,953,308 |
| Prepaid expenses and deferred charges | $83,079 |
| Net Land, buildings, and equipment | $5,844,709 |
| Investments—publicly traded securities | $2,688,849 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $16,540,370 |
| Accounts payable and accrued expenses | $2,945,301 |
| 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 | $296,981 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,242,282 |
| Net assets without donor restrictions | $13,261,811 |
| Net assets with donor restrictions | $36,277 |
| 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 | $16,540,370 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Industries Of The Blind Inc has recieved totaling $50,131.
| Awarding Organization | Amount |
|---|---|
National Industries For The Blind Alexandria, VA PURPOSE: PRODUCTIVITY, TRAINING AND COMPENSATION | $50,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $131 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bobby Dodd Institute Inc Atlanta, GA | $15,439,617 | $18,957,191 |
Community Alternatives Incorporated Norfolk, VA | $5,227,014 | $13,773,753 |
Eastern Carolina Vocational Center Inc Greenville, NC | $26,970,682 | $10,804,799 |
Portco Inc Suffolk, VA | $2,077,717 | $9,434,318 |
Park Center Nashville, TN | $31,811,535 | $21,739,362 |
Johnston County Industries Inc Selma, NC | $6,782,486 | $8,118,141 |
Steps Inc Farmville, VA | $3,388,656 | $7,256,385 |
Durham Exchange Club Industries Inc Durham, NC | $24,396,757 | $5,688,631 |
Nw Works Inc Winchester, VA | $4,880,956 | $5,477,841 |
Every Citizen Has Opportunities Inc Leesburg, VA | $4,562,432 | $6,133,227 |
Easter Seals West Georgia Inc Columbus, GA | $14,019,285 | $4,649,150 |
Manufacturing Skill Standards Council Alexandria, VA | $1,590,941 | $4,396,856 |