Civic Intelligence

L C Industries Foundation

990 • Fiscal year 2022 • EIN 45-5200306

Jul 01, 2021 to Jun 30, 2022 • Filed on May 04, 2023

4500 Emperor BoulevardDurham, NC 27703

(919) 596-8277

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

1st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • NTEE P • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

2nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2022 filings • NTEE P • $50M-$100M nonprofits • Source year 2022

Net Margin

1st percentile

-59%

Higher net margin than 1% of similar nonprofits.

2022 filings • NTEE P • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

82nd percentile

$589,143

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 69.2% of source-year revenue.

2022 filings • NTEE P • $50M-$100M nonprofits • Source year 2022

Asset Growth

19th percentile

-8.0%

Faster asset growth than 19% of similar nonprofits.

2022 filings • NTEE P • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-89%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • NTEE P • $50M-$100M nonprofits • Annualized from 2021 to 2022

Assets

Down

$64,591,160

Down $5,634,647 (-8.0%) from 2021

Net Assets

Down

$64,591,160

Down $5,634,647 (-8.0%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue

Down

$851,710

Down $6,643,058 (-89%) from 2021

Expenses

Down

$1,356,449

Down $896,853 (-40%) from 2021

Net Income

Down

-$504,739

Down $5,746,205 (-110%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$80M$60M$40M$20M$0Assets 2013: $18,014,851Liabilities 2013: $0Net Assets 2013: $18,014,8512013Assets 2014: $29,822,773Liabilities 2014: $0Net Assets 2014: $29,822,7732014Assets 2015: $44,233,007Liabilities 2015: $0Net Assets 2015: $44,233,0072015Assets 2016: $46,295,580Liabilities 2016: $0Net Assets 2016: $46,295,5802016Assets 2017: $52,860,379Liabilities 2017: $0Net Assets 2017: $52,860,3792017Assets 2018: $54,705,907Liabilities 2018: $0Net Assets 2018: $54,705,9072018Assets 2019: $56,582,480Liabilities 2019: $0Net Assets 2019: $56,582,4802019Assets 2020: $63,133,395Liabilities 2020: $0Net Assets 2020: $63,133,3952020Assets 2021: $70,225,807Liabilities 2021: $0Net Assets 2021: $70,225,8072021Assets 2022: $64,591,160Liabilities 2022: $0Net Assets 2022: $64,591,1602022Assets 2023: $68,313,434Liabilities 2023: $0Net Assets 2023: $68,313,4342023Assets 2024: $73,147,325Liabilities 2024: $0Net Assets 2024: $73,147,3252024

Highlighted filing

2022

Assets$64,591,160
Liabilities$0
Net Assets$64,591,160

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MExpenses 2013: $25,6822013Revenue 2014: $12,584,765Expenses 2014: $781,648Net Income 2014: $11,803,1172014Revenue 2015: $14,729,859Expenses 2015: $2,030,458Net Income 2015: $12,699,4012015Revenue 2016: $3,964,064Expenses 2016: $661,561Net Income 2016: $3,302,5032016Revenue 2017: $5,936,402Expenses 2017: $3,715,007Net Income 2017: $2,221,3952017Revenue 2018: $4,740,004Expenses 2018: $4,633,389Net Income 2018: $106,6152018Revenue 2019: $4,167,814Expenses 2019: $2,296,745Net Income 2019: $1,871,0692019Revenue 2020: $6,759,120Expenses 2020: $2,466,217Net Income 2020: $4,292,9032020Revenue 2021: $7,494,768Expenses 2021: $2,253,302Net Income 2021: $5,241,4662021Revenue 2022: $851,710Expenses 2022: $1,356,449Net Income 2022: -$504,7392022Revenue 2023: $3,029,940Expenses 2023: $2,307,535Net Income 2023: $722,4052023Revenue 2024: $1,925,410Expenses 2024: $1,601,907Net Income 2024: $323,5032024

Highlighted filing

2022

Revenue$851,710
Expenses$1,356,449
Net Income-$504,739
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
May 4, 2023
Return Version
2021v4.2
Gross Receipts
$9,006,282
Mission and Program Overview

Mission

To improve the lives and well being of persons who are blind, and to offer such persons opportunities for education, training and job related skills.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$70,225,807$64,591,160▼ $5,634,647
Investments in Publicly Traded Securities$64,589,672$58,287,634▼ $6,302,038
Savings and Temporary Cash Investments$5,636,135$6,303,526▲ $667,391
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$70,225,807$64,591,160▼ $5,634,647
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Total Net Assets Fund Balance$70,225,807$64,591,160▼ $5,634,647
Total Liabilities and Net Assets / Fund Balance$70,225,807$64,591,160▼ $5,634,647
Compensation and Service Providers

Board Members and Trustees

NameTitle
William HudsonPresident
Patrick LindseyBoard Member
John JanesSecretary
Stephen HarrisTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$2,522,037
Other Revenue
$-1,670,327
Change in Net Assets
$-504,739
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$976,585
Other Expenses$379,864
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$976,585--$976,585
Fees for Service Investment Mgmnt Fees-$242,824-$242,824
Depreciation Depletion$101,762--$101,762
Travel$22,167--$22,167
Interest$5,225--$5,225
Fees for Services Accounting-$5,150-$5,150
Other Expenses-$2,736-$2,736
Total Functional Expenses$1,105,739$250,710$0$1,356,449
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Envision FoundationWichita, KS501(c)(3)Support for the Envision Workforce Innovation Center$700,000
Lc IndustriesDurham, NC501(c)(3)Operational Support$200,000
Southeastern Guide DogsPalmetto, FL501(c)(3)Operational Support$76,585
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by an independent accounting firm. The form 990 will be reviewed by the board prior to filing with the irs.

Form 990, Part VI, Section B, Line 12C

The organization adheres to its conflict of interest policy document by consistantly monitoring the independence of its board members

Form 990, Part VI, Section C, Line 18

Copies are provided upon request.

Form 990, Part VI, Section C, Line 19

Copies of governing documents, conflict of interest policy, and financial statements are provided upon request.

Filing and Contact Details

Filer

Filer Name
L C Industries Foundation
EIN
45-5200306
Phone
9195968277
Address
4500 EMPEROR BOULEVARD, DURHAM, NC 27703

Signing Officer

Name
William Hudson
Title
President
Phone
9195968277
Signed
2023-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
William Hudson
Formed
2012
Legal Domicile
Nc
Voting Board Members
4
Independent Board Members
2
Employees
0
Volunteers
2

Preparer

Firm
Forvis Llp
Address
500 RIDGEFIELD COURT, ASHEVILLE, NC 28806
Preparer
Amy Bibby
Phone
8282542254
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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt0111681
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt0455869
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1458556
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt010150
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt07057
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt04386
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PATRICK LINDSEY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1WILLIAM HUDSON
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0BOARD MEMBER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0589143
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1458556
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE ANNUAL PROFITS OF THE COMPANY INDIRECTLY INFLUENCE AMOUNTS REWARDED AS ANNUAL BONUSES TO ALL EMPLOYEES INCLUDING OFFICERS. ALL BONUSES ARE APPROVED BY THE BOARD OF DIRECTORS OF RELATED ENTITY, L C INDUSTIRES, INC.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1THE ANNUAL PROFITS OF THE COMPANY INDIRECTLY INFLUENCE AMOUNTS REWARDED AS ANNUAL BONUSES TO ALL EMPLOYEES INCLUDING OFFICERS. ALL BONUSES ARE APPROVED BY THE BOARD OF DIRECTORS OF RELATED ENTITY, L C INDUSTRIES, INC.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 5
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 5 :
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. THE FORM 990 WILL BE REVIEWED BY THE BOARD PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION ADHERES TO ITS CONFLICT OF INTEREST POLICY DOCUMENT BY CONSISTANTLY MONITORING THE INDEPENDENCE OF ITS BOARD MEMBERS
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2COPIES ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3COPIES OF GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE PROVIDED UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd01
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0263966355
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt0C
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0INVESTMENT
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0LCI INVESTMENTS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt03211 S MIAMI BLVD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0DURHAM
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd027703
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0L C INDUSTRIES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0560686307
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(3)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO EMPLOY AND TEACH THE VISUALLY HANDICAPPED
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt0LINE 10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt04500 EMPEROR BOULEVARD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0DURHAM
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd027703
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt070225807
IRS990/TotalAssetsEOYAmt064591160
IRS990/TotalAssetsGrp/BOYAmt070225807
IRS990/TotalAssetsGrp/EOYAmt064591160
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0250710
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01105739
IRS990/TotalFunctionalExpensesGrp/TotalAmt01356449
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt070225807
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt064591160
IRS990/TotalOtherCompensationAmt017207
IRS990/TotalProgramServiceExpensesAmt01105739
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt0851710
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0851710
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt02
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt070225807
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt064591160

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