2016-04-28T13:33:23-05:00 2015-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2014-07-01 560686307 L C INDUSTRIES INC LCIN 9195968277 4500 EMPEROR BOULEVARD DURHAM NC 27703 SIGNING OFFICER CFO 9195968277 2016-04-28 1 AMY BIBBY P00445891 8282542254 2014 2016-08-17 19:52:53Z WILLIAM HUDSON 4500 EMPEROR BOULEVARD DURHAM NC 27703 287198460 0 X WWW.BUYLCI.COM X 1958 NC TO EMPLOY AND TEACH THE VISUALLY HANDICAPPED 8 6 819 0 1000 -500 0 0 0 0 1851071 69663 54520941 68835740 56372012 68905403 4185000 14050250 0 0 26996244 29162909 0 0 0 25540599 29170640 56721843 72383799 -349831 -3478396 198741782 191431785 27424541 23628395 171317241 167803390 THE ORGANIZATION'S MISSION IS TO PROVIDE MEANINGFUL EMPLOYMENT FOR PEOPLE WHO ARE LEGALLY BLIND. 0 0 59349079 14050250 68794150 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 10/1/2014 CONSISTED OF 281 INDIVIDUALS. THIRTY-TWO ADDITIONAL INDIVIDUALS WERE ADDED TO THE DIRECT BLIND WORKFORCE FOR THE TAX YEAR. IN ADDITION, THE ORGANIZATION EMPLOYED 23 INDIRECT BLIND EMPLOYEES AS OF 6/30/2015. 59349079 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 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 67 0 1 819 1 1 1 0 0 0 0 0 0 0 0 0 X 8 6 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 0 1 1 1 0 GA CA X RICHARD STALLINGS 9195968277 4500 EMPEROR BLVD DURHAM NC 27703 TED GRIFFIN BOARD MEMBER 5.00 X 0 0 0 STEVE HARRIS BOARD MEMBER 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 & PRESIDENT 40.00 5.00 X X 892354 0 60095 RICHARD STALLINGS CFO 40.00 X 405078 0 87030 JEFFREY HAWTING PRESIDENT (BEGINNING OCT 2014) 40.00 X 445070 0 93689 PATRICK LINDSEY COO (BEGINNING OCT 2014) 40.00 X 89239 0 17857 DELBERT L WHITE VP BUSINESS STRATEGY & DEV. 40.00 X 273630 0 56195 MARISA O CHRISMON VP HUMAN RESOURCES 40.00 X 184154 0 34609 WILLIAM H BLACKTON DIRECTOR RETAIL & DC 40.00 X 196570 0 63080 JEFFREY S EASTERLING PLANT MANAGER 40.00 X 168525 0 44066 DUWAYNE GILBERTSON VP PRODUCT DEVELOPMENT 40.00 X 159587 0 51148 MICHAEL W GRAFTON DIRECTOR MANUFACTURING 40.00 X 143604 0 52282 DEREK BYRNE DIRECTOR ECOMMERCE 40.00 X 133743 0 41540 CHRIS OSMAN DIRECTOR TACTICAL GEAR 40.00 X 129200 0 20076 3220754 0 621667 11 0 1 0 DIXON HUGHES GOODMAN LLP PO BOX 3049 ASHEVILLE NC 28802 INDEPENDENT ACCOUNTING FIRM 298751 AKOS INC 5325 E OCEAN BLVD APT 8 LONG BEACH CA 90803 IT SUPPORT (AXAPTA) 170925 DIGITAL INTELLIGENCE SYSTEMS LLC 8270 GREENSBORO DRIVE SUITE 1000 MCLEAN VA 22102 IT SUPPORT (EDI) 129456 3 916158 916158 40590 0 40590 40590 40590 42183 827112 61566 -827112 -19383 -846495 -846495 285895717 217404379 68491338 68491338 COMMISSIONS 900099 260177 260177 MISCELLANEOUS 900099 42635 42635 ADVERTISING 900099 1000 1000 303812 68905403 68794150 1000 110253 14050250 14050250 2116277 2116277 20239200 15748031 4491169 2541624 2151898 389726 2575124 2066687 508437 1690684 1308510 382174 159543 35951 123592 280751 280751 5254422 4136332 1118090 63047 37756 25291 12831384 11890096 941288 155647 76066 79581 2702336 2456619 245717 661498 342638 318860 263844 98090 165754 2829193 2297013 532180 1011064 937733 73331 COMMISSIONS 2595654 1689575 906079 BAD DEBT EXPENSE 362257 25834 336423 72383799 59349079 13034720 0 68532542 59473813 625926 1392906 16867884 18668956 46980128 45434961 313074 501875 82483208 43419812 38932618 39063396 24626864 24921836 185252 300000 1677494 1674042 198741782 191431785 23589818 20134879 3834723 3493516 27424541 23628395 X 171317241 167803390 171317241 167803390 198741782 191431785 -3478396 -35455 0 X X 1 X 0 1 0 X 266579880 247733877 226994595 229292194 285895717 1256496263 266579880 247733877 226994595 229292194 285895717 1256496263 0 0 0 1256496263 939526 592390 776989 885671 956748 4151324 27100 19970 1000 48070 939526 592390 804089 905641 957748 4199394 174313 238949 344464 302812 1060538 267693719 248565216 227798684 230542299 287156277 1261756195 0.99580 0.99600 0.00330 0.00350 X 789302 3812487 4601789 24385371 8432148 15953223 8346446 3407430 4939016 37105392 25939593 11165799 8044210 5640641 2403569 39063396 CUSTOMER DEPOSITS 2075145 PENSION LIABILITY 1418371 3493516 X 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, 2015 AND 2014. THE COMPANY BELIEVES THEY ARE NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR JUNE 30, 2012. 0 L C INDUSTRIES FOUNDATION 4500 EMPEROR BOULEVARD DURHAM NC 27703 455200306 501(C)(3) 14000000 OPERATIONAL SUPPORT USO OF NORTH CAROLINA PO BOX 91536 RALEIGH NC 27625 560532315 501(C)(3) 25000 OPERATIONAL SUPPORT DUKE UNIVERSITY EYE CENTER 2351 ERWIN ROAD DURHAM NC 27705 560532129 501(C)(3) 25000 OPERATIONAL SUPPORT 3 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 & PRESIDENT 550004 0 321196 0 21154 0 46065 0 14030 0 952449 0 0 0 RICHARD STALLINGS CFO 258128 0 140000 0 6950 0 73000 0 14030 0 492108 0 0 0 JEFFREY HAWTING PRESIDENT (BEGINNING OCT 2014) 285070 0 160000 0 0 0 73000 0 20689 0 538759 0 0 0 DELBERT L WHITE VP BUSINESS STRATEGY & DEV. 190710 0 80000 0 2920 0 50000 0 6195 0 329825 0 0 0 MARISA O CHRISMON VP HUMAN RESOURCES 148298 0 32000 0 3856 0 28414 0 6195 0 218763 0 0 0 WILLIAM H BLACKTON DIRECTOR RETAIL & DC 149635 0 43000 0 3935 0 42391 0 20689 0 259650 0 0 0 JEFFREY S EASTERLING PLANT MANAGER 156083 0 8840 0 3602 0 44066 0 0 0 212591 0 0 0 DUWAYNE GILBERTSON VP PRODUCT DEVELOPMENT 126161 0 31000 0 2426 0 30459 0 20689 0 210735 0 0 0 MICHAEL W GRAFTON DIRECTOR MANUFACTURING 117100 0 22000 0 4504 0 31593 0 20689 0 195886 0 0 0 DEREK BYRNE DIRECTOR ECOMMERCE 125743 0 8000 0 0 0 20851 0 20689 0 175283 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 122342 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 -108003 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 14000000