2020-06-30T12:43:11-05:00 2019-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2018-07-01 560686307 L C INDUSTRIES INC LCIN 9195968277 4500 EMPEROR BOULEVARD DURHAM NC 27703 JEFFREY HAWTING PRESIDENT 9195968277 2020-06-26 1 AMY BIBBY P00445891 8282542254 2020-06-25 99.47.28.203 2020-06-26 12:31:32 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 48FB394F9AA065459641371F168D9F2AFFFBB473 2018 2020-09-22 18:59:49Z WILLIAM HUDSON 4500 EMPEROR BOULEVARD DURHAM NC 27703 306603817 0 X WWW.BUYLCI.COM X 1958 NC TO EMPLOY AND TEACH THE VISUALLY IMPAIRED 8 7 957 0 4479 0 0 0 0 0 1350757 2409064 66274599 68005548 67625356 70414612 3038162 6056125 0 0 36804205 38910863 0 0 0 17938879 20521675 57781246 65488663 9844110 4925949 199894262 203902041 25576978 24658808 174317284 179243233 THE ORGANIZATION'S MISSION IS TO PROVIDE MEANINGFUL EMPLOYMENT FOR THOSE WHO ARE BLIND AND VISUALLY IMPAIRED. 0 0 50534591 6056125 67964360 THE ORGANIZATION EMPLOYED VISUALLY IMPAIRED INDIVIDIUALS WHO MANUFACTURED MATTRESSES, MATTRESS COVERS, FILE FOLDERS, WALLET ENVELOPES, MOPS, WATER CANS, PAPER PRODUCTS AND OTHER PLASTICS. THE ORGANIZATION ALSO OPERATED RETAIL STORES THAT SELL BLIND-MADE PRODUCTS.THE ORGANIZATION'S DIRECT BLIND WORKFORCE AT 6/30/19 CONSISTED OF 298 INDIVIDUALS. 50534591 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 1 48 0 1 957 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 1 1 1 0 GA CA X THE ORGANIZATION 9195968277 4500 EMPEROR BLVD DURHAM NC 27703 RICHARD M HUTSON CHAIR 5.00 X X 0 0 0 THOM WHITE SECRETARY 5.00 X X 0 0 0 TED GRIFFIN BOARD MEMBER 5.00 X 0 0 0 JOE M LEE III BOARD MEMBER 5.00 X 0 0 0 ERNIE ROESSLER BOARD MEMBER 5.00 X 0 0 0 STEVE HARRIS BOARD MEMBER 5.00 5.00 X 0 0 0 JIM HOLMES BOARD MEMBER 5.00 X 0 0 0 WILLIAM HUDSON CEO/TREASURER 40.00 5.00 X X 879098 0 27152 JEFFREY HAWTING PRESIDENT 40.00 X 593367 0 25956 PATRICK LINDSEY COO 40.00 X 530706 0 14607 SUSAN JOHNSON VP OF FINANCE 40.00 X 163926 0 11630 MARISA CHRISMON CHRO 40.00 X 226404 0 15848 DUWAYNE GILBERTSON VP OF BUSINESS DEVELOPMENT 40.00 X 178448 0 29502 WILLIAM BLACKTON VP RETAIL 40.00 X 191962 0 30586 CHRISTOPHER POWER DIRECTOR, BSC SALES 40.00 X 143077 0 25816 SCOTT SCHRANTZ DIRECTOR DISTRIBUTION 40.00 X 142332 0 23465 DEREK BYRNE DIRECTOR INFORMATION TECH. 40.00 X 142315 0 28414 ANDRO CZUCZUK DIRECTOR, PURCHASING 40.00 X 130984 0 28002 MICHAEL GRAFTON MANAGER, PRODUCT DEVELOPME 40.00 X 130510 0 28105 3453129 0 289083 17 0 1 0 CLEARVIEW AUDIT LLC 6325 ODANA RD MADISON WI 53719 FREIGHT SERVICES 945488 GOLDEN TRIANGLE INDUSTRIAL PARK LLC PO BOX 80318 CITY OF INDUSTRY CA 91716 LEASE 277006 DIXON HUGHES GOODMAN 4350 CONGRESS STREET SUITE 900 CHARLOTTE NC 28209 ACCOUNTING SERVICES 112400 3 1365598 1365598 36709 0 36709 36709 36709 30793540 54203 29749723 54554 1043817 -351 1043466 1043466 273598888 206384928 67213960 67213960 MISCELLANEOUS 900099 530941 526462 4479 COMMISSIONS 900099 199073 199073 SERVICE INCOME 900099 24865 24865 754879 70414612 67964360 4479 2445773 6056125 6056125 2919192 2919192 26137304 21172259 4965045 3611805 2705669 906136 4165646 3626456 539190 2076916 1630742 446174 74751 13526 61225 186829 186829 5657765 3883739 1774026 95948 89644 6304 11127052 10361763 765289 294502 127015 167487 3910774 3579668 331106 850154 533916 316238 239633 70787 168846 3302076 2874763 427313 548051 401272 146779 COMMISSIONS 3970802 3832802 138000 BAD DEBT EXPENSE 718585 29692 688893 OVERHEAD ALLOCATION -10455247 -10455247 65488663 50534591 14954072 0 57135756 38271857 10532556 13614893 19845278 28686522 43835524 47515258 658572 1023092 88975270 47357746 36656050 41617524 28938287 30919524 2292239 2253371 199894262 203902041 21845072 19838583 3731906 4820225 25576978 24658808 X 174317284 179243233 174317284 179243233 199894262 203902041 4925949 0 X X 0 1 X 1 0 X 285895717 248166276 236805121 267547599 273598888 1312013601 285895717 248166276 236805121 267547599 273598888 1312013601 0 0 0 1312013601 956748 986093 1018581 1144103 1402307 5507832 1000 2651 2250 4479 10380 957748 988744 1020831 1144103 1406786 5518212 1935 1935 302812 262379 342328 374570 750400 2032489 287156277 249417399 238168280 269066272 275758009 1319566237 0.99430 0.99480 0.00420 0.00390 X 3812487 3812487 27353646 11034670 16318976 11875478 4327345 7548133 38877410 28140004 10737406 7056249 3855727 3200522 41617524 CUSTOMER DEPOSITS 3207987 PENSION LIABILITY 1612238 4820225 X 70414612 0 70414612 0 70414612 59488663 0 59488663 6000000 6000000 65488663 PART X, LINE 2: L C INDUSTRIES INC. IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE; ACCORDINGLY, THE ACCOMPANYING FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION OR LIABILITY FOR FEDERAL AND STATE INCOME TAXES. THE COMPANY DETERMINED THAT THEY DO NOT HAVE ANY MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF JUNE 30, 2019 AND 2018. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT TO LCI FOUNDATION 6,000,000. 0 L C INDUSTRIES FOUNDATION 4500 EMPEROR BOULEVARD DURHAM NC 27703 455200306 501(C)(3) 6000000 OPERATIONAL SUPPORT 1 PART I, LINE 2: THE ORGANIZATION DOES NOT HAVE A FORMAL GRANT ASSISTANCE POLICY. INSTEAD, THE ORGANIZATION OFFERS DONATIONS TO SELECT CHARITABLE ORGANIZATIONS. X 0 0 X X 0 0 0 1 0 0 0 1 0 WILLIAM HUDSON CEO/TREASURER 545098 0 334000 0 0 0 9625 0 17527 0 906250 0 0 0 JEFFREY HAWTING PRESIDENT 404335 0 186134 0 2898 0 2967 0 22989 0 619323 0 0 0 PATRICK LINDSEY COO 378715 0 148907 0 3084 0 7279 0 7328 0 545313 0 0 0 SUSAN JOHNSON VP OF FINANCE 135826 0 28100 0 0 0 4302 0 7328 0 175556 0 0 0 MARISA CHRISMON CHRO 182344 0 44060 0 0 0 8520 0 7328 0 242252 0 0 0 DUWAYNE GILBERTSON VP OF BUSINESS DEVELOPMENT 130852 0 44060 0 3536 0 6513 0 22989 0 207950 0 0 0 WILLIAM BLACKTON VP RETAIL 148826 0 41783 0 1353 0 7597 0 22989 0 222548 0 0 0 CHRISTOPHER POWER DIRECTOR, BSC SALES 133077 0 10000 0 0 0 2825 0 22991 0 168893 0 0 0 SCOTT SCHRANTZ DIRECTOR DISTRIBUTION 115579 0 26753 0 0 0 5858 0 17607 0 165797 0 0 0 DEREK BYRNE DIRECTOR INFORMATION TECH. 132315 0 10000 0 0 0 5425 0 22989 0 170729 0 0 0 ANDRO CZUCZUK DIRECTOR, PURCHASING 119744 0 11240 0 0 0 5013 0 22989 0 158986 0 0 0 MICHAEL GRAFTON MANAGER, PRODUCT DEVELOPME 112510 0 18000 0 0 0 5116 0 22989 0 158615 0 0 0 PART I, LINE 5 THE 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. PART I, LINE 7 THE 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. LEE AIR CONDITIONERS BOARD MEMBER 157932 A BOARD MEMBER LISTED IN PART VII IS ALSO A STOCKHOLDER OF A COMPANY THAT WAS COMPENSATED FOR REPAIRS AND MAINTENANCE OF EQUIPMENT. 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY MANAGEMENT AND THEN EMAILED TO EVERY BOARD MEMBER PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 15 EXECUTIVE COMPENSATION IS ESTABLISHED BY THE CEO WITH BOARD APPROVAL. CHRO CONDUCTS ANNUAL NATIONAL EXECUTIVE COMPENSATION STUDY FOR BENCHMARKING. MARKET DATA ACQUIRED ANNUALLY BY CHRO TO UPDATE SALARY ADMINISTRATION PLAN FOR ALL OTHER POSITIONS TO DETERMINE COMPENSATION. AVAILABLE FOR REVIEW WITH CEO/PRESIDENT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. L C INDUSTRIES FOUNDATION 4500 EMPEROR BOULEVARD DURHAM NC 27703 455200306 TO IMPROVE THE LIVES AND WELL BEING OF PERSONS WHO ARE BLIND NC 501(C)(3) LINE 12A, I L C INDUSTRIES INC 1 LCI INVESTMENTS INC 3211 S MIAMI BLVD DURHAM NC 27703 263966355 INVESTMENT NC L C INDUSTRIES INC C 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 L C INDUSTRIES FOUNDATION B 6000000 CASH