2015-02-09T05:29:14-06:00 2014-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2013-07-01 560686307 L C INDUSTRIES INC LCIN 9195968277 4500 EMPEROR BOULEVARD DURHAM NC 27703 RICHARD STALLINGS CFO 9195968277 2015-02-03 1 AMY BIBBY P00445891 8282542254 2013 2016-02-25 16:41:14Z WILLIAM HUDSON 4500 EMPEROR BOULEVARD DURHAM NC 27703 250122152 0 X WWW.BUYLCI.COM X 1958 NC TO EMPLOY AND TEACH THE VISUALLY HANDICAPPED 8 7 852 0 19970 10472 0 0 0 0 794903 1851071 56130116 54520941 56925019 56372012 12082000 4185000 0 0 27545867 26996244 0 0 0 22738884 25540599 62366751 56721843 -5441732 -349831 190733180 198741782 19066108 27424541 171667072 171317241 THE ORGANIZATION'S MISSION IS TO PROVIDE MEANINGFUL EMPLOYMENT FOR PEOPLE WHO ARE LEGALLY BLIND. 0 0 43881227 4185000 54452642 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 10/1/2013 CONSISTED OF 282 INDIVIDUALS. TWENTY-SEVEN ADDITIONAL INDIVIDUALS WERE ADDED TO THE DIRECT BLIND WORKFORCE FOR THE TAX YEAR. IN ADDITION, THE ORGANIZATION EMPLOYED 22 INDIRECT BLIND EMPLOYEES AS OF 6/30/2014. 43881227 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 0 0 1 0 0 0 0 0 1 1 0 0 0 1 58 0 1 852 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 RICHARD STALLINGS 9195968277 4500 EMPEROR BLVD DURHAM NC 27703 RICHARD M HUTSON BOARD MEMBER 5.00 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 TOM WHITE 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 STEVE HARRIS BOARD MEMBER 5.00 X 0 0 0 WILLIAM HUDSON CEO & PRESIDENT 40.00 5.00 X X 902667 0 23089 RICHARD STALLINGS CFO 40.00 X 413190 0 17204 JEFFREY HAWTING COO 40.00 X 295137 0 26328 JEFF SCHWARTZ PRESIDENT (JUL - OCT) 40.00 X 585468 0 17246 DELBERT L WHITE VP - BUSINESS STRATEGY & D 40.00 X 270517 0 12993 MARISA O CHRISMON VP HUMAN RESOURCES 40.00 X 170698 0 9644 WILLIAM H BLACKTON DIRECTOR RETAIL & DC 40.00 X 187654 0 26655 KENNETH W EDWARDS DIRECTOR MARKETING 40.00 X 153116 0 25491 JEFFREY S EASTERLING PLANT MANAGER 40.00 X 171386 0 9436 DUWAYNE GILBERTSON VP PRODUCT DEVELOPMENT 40.00 X 146796 0 5084 MICHAEL W GRAFTON DIRECTOR MANUFACTURING 40.00 X 140646 0 25106 CHARLES A VINOVERSKI VP SALES 40.00 X 134812 0 5700 SUSAN P JOHNSON DIRECTOR, CONTROLLER 40.00 X 124293 0 8974 3696380 0 212950 17 0 1 0 GUILLAUME CONSULTING INC 917 1ST STREET SOUTH JACKSONVILLE BEACH FL 32250 ERP IMPLEMENTATION 312752 DIXON HUGHES GOODMAN PO BOX 3049 ASHEVILLE NC 28802 INDEPENDENT AUDITORS 285354 TRANSATLANTIC SERVICE 3 MERIDAN LANE STAFFORD VA 22556 SALES CONSULTANT 150000 DIGITAL INTELLIGENCE SYSTEMS LLC 8270 GREENSBORO DRIVE SUITE 100 MCLEAN VA 22102 IT SUPPORT FOR EDI 113789 SHELLBACK TACTICAL 1635 WEST SHERWAY ST WEST COVINA CA 91790 SALES SUPPORT 105454 5 837342 837342 48329 0 48329 48329 48329 19574407 5446 18151457 414667 1422950 -409221 1013729 1013729 229292194 175184016 54108178 54108178 COMMISSIONS 900099 241912 241912 MISCELLANEOUS 900099 102552 102552 ADVERTISING 900099 19970 19970 364434 56372012 54452642 19970 1899400 4185000 4185000 20966146 14349680 6616466 2250605 1701190 549415 2228607 1796410 432197 1550886 1193862 357024 62409 62409 297617 297617 4495762 3309660 1186102 96437 738 95699 10644162 9711344 932818 157288 60499 96789 2628033 2324543 303490 671986 332925 339061 185690 6775 178915 40 40 2843667 2283463 560204 1036826 926010 110816 COMMISSIONS 2101034 1679947 421087 BAD DEBT EXPENSE 319648 19181 300467 56721843 43881227 12840616 0 45549800 68532542 14639683 625926 13979934 16867884 52311959 46980128 703651 313074 79302285 40369667 39438521 38932618 22297565 24626864 131122 185252 1680945 1677494 190733180 198741782 16165895 23589818 2900213 3834723 19066108 27424541 X 171667072 171317241 171667072 171317241 190733180 198741782 -349831 0 X X 0 0 0 X 235919595 266579880 247733877 226994595 977227947 235919595 266579880 247733877 226994595 977227947 0 0 0 977227947 1061367 939526 592390 776989 3370272 27100 27100 1061367 939526 592390 804089 3397372 108937 174313 238949 522199 237089899 267693719 248565216 227798684 981147518 0.99600 0.99530 0.00350 0.00410 X 789302 3812487 4601789 24385371 7839925 16545446 7835528 3085093 4750435 35848357 24203546 11644811 6631240 5241103 1390137 38932618 CUSTOMER DEPOSITS 2560034 PENSION LIABILITY 1274689 3834723 X 56372012 0 56372012 0 56372012 52721843 0 52721843 4000000 4000000 56721843 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, 2014 AND 2013. THE COMPANY BELIEVES THEY ARE NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR JUNE 30, 2011. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANT TO DUKE UNIVERSITY EYE CENTER 4,000,000. 0 USO OF NORTH CAROLINA PO BOX 91536 RALEIGH NC 27625 560532315 501(C)(3) 50000 OPERATIONAL SUPPORT UNC GENERAL ADMINISTRATION 103 SOUTH BLDG CB 9100 CHAPEL HILL NC 27599 566172047 GOVT 130000 OPERATIONAL SUPPORT WEST VIRIGINIA UNIVERSITY STEWART HALL 1500 UNIVERSITY AVENUE AVENUE MORGANTOWN WV 26505 566017181 GOVT 5000 OPERATIONAL SUPPORT DUKE UNIVERSITY EYE CENTER 2351 ERWIN RD DURHAM NC 27705 560532129 501(C)(3) 4000000 OPERATIONAL SUPPORT 4 0 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 X 0 0 0 0 0 0 0 1 0 WILLIAM HUDSON CEO & PRESIDENT 571158 0 324000 0 7509 0 7404 0 15685 0 925756 0 0 0 RICHARD STALLINGS CFO 263092 0 147000 0 3098 0 1737 0 15467 0 430394 0 0 0 JEFFREY HAWTING COO 207650 0 80100 0 7387 0 6145 0 20183 0 321465 0 0 0 JEFF SCHWARTZ PRESIDENT (JUL - OCT) 359693 0 213900 0 11875 0 1779 0 15467 0 602714 0 0 0 DELBERT L WHITE VP - BUSINESS STRATEGY & D 193201 0 70950 0 6366 0 6603 0 6390 0 283510 0 0 0 MARISA O CHRISMON VP HUMAN RESOURCES 140461 0 26000 0 4237 0 3329 0 6315 0 180342 0 0 0 WILLIAM H BLACKTON DIRECTOR RETAIL & DC 146903 0 38000 0 2751 0 6472 0 20183 0 214309 0 0 0 KENNETH W EDWARDS DIRECTOR MARKETING 137116 0 16000 0 0 0 5359 0 20132 0 178607 0 0 0 JEFFREY S EASTERLING PLANT MANAGER 162086 0 9300 0 0 0 3677 0 5759 0 180822 0 0 0 DUWAYNE GILBERTSON VP PRODUCT DEVELOPMENT 123491 0 21000 0 2305 0 5057 0 27 0 151880 0 0 0 MICHAEL W GRAFTON DIRECTOR MANUFACTURING 119023 0 21623 0 0 0 4923 0 20183 0 165752 0 0 0 PART I, LINE 1A TRAVEL EXPENSES WERE PROVIDED FOR THE SPOUSE OF AN EMPLOYEE WHO SUCCESSFULLY ATTAINED A GOAL FOR AN ANNUAL SALES TRIP. AT THE DISCRETION OF THE CEO, SELECT ADMINISTRATIVE POSITIONS THAT SUPPORT SALES EFFORTS MAY ALSO BE INCLUDED. 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. JOE LEE III BOARD MEMBER 201736 BOARD MEMBER 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 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) 509(A)(2) L C INDUSTRIES INC 1 LCI INVESTMENTS INC 3211 S MIAMI BLVD DURHAM NC 27703 263966355 INVESTMENT NC L C INDUSTRIES INC C 967606 685187 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 L C INDUSTRIES FOUNDATION R