2017-05-03T14:06:20-05:00 2016-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2015-07-01 560686307 L C INDUSTRIES INC LCIN 9195968277 4500 EMPEROR BOULEVARD DURHAM NC 27703 JEFFREY HAWTING PRESIDENT 9195968277 2017-05-03 1 AMY BIBBY P00445891 8282542254 2017-05-03 2015 2021-01-29 14:40:06Z WILLIAM HUDSON 4500 EMPEROR BOULEVARD DURHAM NC 27703 249417399 0 X WWW.BUYLCI.COM X 1958 NC TO EMPLOY AND TEACH THE VISUALLY HANDICAPPED 8 7 886 0 2651 0 0 0 0 0 69663 -68019 68835740 61529727 68905403 61461708 14050250 4226550 0 0 29162909 30352265 0 0 0 29170640 25073280 72383799 59652095 -3478396 1809613 191431785 188094431 23628395 18481428 167803390 169613003 THE ORGANIZATION'S MISSION IS TO PROVIDE MEANINGFUL EMPLOYMENT FOR PEOPLE WHO ARE LEGALLY BLIND. 0 0 45362451 4226550 61479318 THE ORGANIZATION EMPLOYED VISUALLY HANDICAPPED 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 10/1/2015 CONSISTED OF 357 INDIVIDUALS. THIRTY-SIX ADDITIONAL INDIVIDUALS WERE ADDED TO THE DIRECT BLIND WORKFORCE FOR THE TAX YEAR. IN ADDITION, THE ORGANIZATION EMPLOYED 26 INDIRECT BLIND EMPLOYEES AS OF 6/30/2016. 45362451 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 66 0 1 886 1 1 1 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 SUSAN JOHNSON 9195968277 4500 EMPEROR BLVD DURHAM NC 27703 TED GRIFFIN BOARD MEMBER 5.00 X 0 0 0 STEVE HARRIS BOARD MEMBER 5.00 5.00 X 0 0 0 RICHARD M HUTSON BOARD MEMBER 5.00 X 0 0 0 JOE M LEE III BOARD MEMBER 5.00 X 0 0 0 JOHN MALLARD BOARD MEMBER 5.00 X 0 0 0 ERNIE ROESSLER BOARD MEMBER 5.00 X 0 0 0 TOM WHITE BOARD MEMBER 5.00 X 0 0 0 WILLIAM HUDSON CEO 40.00 5.00 X X 880108 0 22553 JEFFREY HAWTING PRESIDENT 40.00 X 573786 0 23391 PATRICK LINDSEY COO 40.00 X 523269 0 15119 RICH STALLINGS CFO 40.00 X 400698 0 18329 MARISA CHRISMON CHRO 40.00 X 190248 0 10649 WILLIAM BLACKTON VP RETAIL 40.00 X 196400 0 28547 DUWAYNE GILBERTSON VP PRODUCT DEVELOPMENT 40.00 X 175400 0 27761 SCOTT M SCHRANTZ DIRECTOR DISTRIBUTION 40.00 X 152000 0 19497 CHRISTOPHER MICHAEL OSMON DIRECTOR TAG 40.00 X 131500 0 4174 MICHAEL W GRAFTON MANAGER, PROD. DEVELOPMENT 40.00 X 139100 0 26528 DEREK ARTHUR BRYNE DIRECTOR, TECHNOLOGY SERV. 40.00 X 138650 0 26357 3501159 0 222905 11 0 1 0 MANHATTAN ASSOCIATES PO BOX 3049 ATLANTA GA 30384 IT SUPPORT FOR WMS (SCALE) 301929 DIXON HUGHES GOODMAN LLP PO BOX 3049 ASHEVILLE NC 28802 INDEPENDENT ACCOUNTING FIRM 192732 2 938335 938335 47758 0 47758 47758 47758 769827 236527 -769827 -236527 -1006354 -1006354 248166276 186949337 61216939 61216939 COMMISSIONS 900099 239391 239391 MISCELLANEOUS 900099 14585 14585 COMMERICIAL SALES 900099 8403 8403 2651 2651 265030 61461708 61479318 2651 -20261 4226550 4226550 2568109 2568109 20719947 15412345 5307602 2600486 1907293 693193 2760736 2092482 668254 1702987 1261284 441703 55751 16603 39148 129349 129349 3942862 2955259 987603 11288 6882 4406 10304926 9377907 927019 209211 111369 97842 2669737 2269321 400416 516334 280129 236205 187658 49024 138634 2788454 2233934 554520 1091616 934335 157281 COMMISSIONS 2466311 2193849 272462 BAD DEBT EXPENSE 699783 33885 665898 59652095 45362451 14289644 0 59473813 57732331 1392906 1487631 18668956 15070183 45434961 45463914 501875 872735 82762571 44065020 39063396 38697551 24921836 26400111 300000 1674042 2369975 191431785 188094431 20134879 14930948 3493516 3550480 23628395 18481428 X 167803390 169613003 167803390 169613003 191431785 188094431 1809613 0 X X 0 1 X 1 0 X 247733877 226994595 229292194 285895717 248166276 1238082659 247733877 226994595 229292194 285895717 248166276 1238082659 0 0 0 1238082659 592390 776989 885671 956748 986093 4197891 27100 19970 1000 2651 50721 592390 804089 905641 957748 988744 4248612 238949 344464 302812 262379 1148604 248565216 227798684 230542299 287156277 249417399 1243479875 0.99570 0.99580 0.00340 0.00330 X 3812487 3812487 27371059 9065541 18305518 8221344 3167189 5054155 37111197 26845672 10265525 6246484 4986618 1259866 38697551 CUSTOMER DEPOSITS 2255455 PENSION LIABILITY 1295025 3550480 X 61461708 0 61461708 0 61461708 55452095 0 55452095 4200000 4200000 59652095 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 NO 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, 2016 AND 2015. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT TO LCI FOUNDATION 4,200,000. 0 L C INDUSTRIES FOUNDATION 4500 EMPEROR BOULEVARD DURHAM NC 27703 455200306 501(C)(3) 4200000 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 X X 0 0 0 1 0 0 0 1 0 WILLIAM HUDSON CEO 550004 0 324000 0 6104 0 6135 0 16418 0 902661 0 0 0 JEFFREY HAWTING PRESIDENT 405600 0 162000 0 6186 0 1911 0 21480 0 597177 0 0 0 PATRICK LINDSEY COO 400036 0 116000 0 7233 0 8368 0 6751 0 538388 0 0 0 RICH STALLINGS CFO 258128 0 140000 0 2570 0 1911 0 16418 0 419027 0 0 0 MARISA CHRISMON CHRO 148928 0 37000 0 4320 0 3898 0 6751 0 200897 0 0 0 WILLIAM BLACKTON VP RETAIL 153400 0 43000 0 0 0 7067 0 21480 0 224947 0 0 0 DUWAYNE GILBERTSON VP PRODUCT DEVELOPMENT 140400 0 35000 0 0 0 6281 0 21480 0 203161 0 0 0 SCOTT M SCHRANTZ DIRECTOR DISTRIBUTION 125000 0 27000 0 0 0 3079 0 16418 0 171497 0 0 0 MICHAEL W GRAFTON MANAGER, PROD. DEVELOPMENT 117100 0 22000 0 0 0 5048 0 21480 0 165628 0 0 0 DEREK ARTHUR BRYNE DIRECTOR, TECHNOLOGY SERV. 130650 0 8000 0 0 0 4877 0 21480 0 165007 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 132003 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 11 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 A COMPENSATION STUDY IS DONE PERIODICALLY. THE LAST STUDY WAS DONE IN 2010 BY AN OUTSIDE CONSULTING FIRM AND PRESENTED TO THE BOARD OF DIRECTORS. THE BOARD OF DIRECTORS SETS THE CEO AND OTHER VP COMPENSATION. ALL OTHER COMPENSATION IS REVIEWED BY THE HR DEPARTMENT AND CEO. 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 11A, 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 4200000