2015-08-17T09:03:06-05:00 2014-09-30 560747981 DIXON HUGHES GOODMAN LLP ONE WEST FOURTH STREET SUITE 700 WINSTONSALEM NC 27101 990 2013-10-01 566001467 WINSTON-SALEM INDUSTRIES FOR THE BLIND INC WINS 3367590551 7730 NORTH POINT DRIVE WINSTONSALEM NC 27106 DAVID HORTON EXECUTIVE DIRECTOR 3367590551 2015-08-14 1 DAVID VOGLER P00187735 3367148100 2013 2016-03-07 17:11:31Z DAVID HORTON 7730 NORTH POINT DRIVE WINSTONSALEM NC 27106 116799912 0 X WWW.WSIFB.COM X 1936 NC TO TRAIN, EMPLOY AND SERVE VISUALLY-IMPAIRED INDIVIDUALS. 21 19 679 33 -31878 -31878 527977 1508325 0 0 -179232 157533 25756576 29821082 26105321 31486940 81936 18850 0 0 16375523 17452972 0 0 276178 10272872 10767854 26730331 28239676 -625010 3247264 43983483 49853005 13042222 15590055 30941261 34262950 X TO PROVIDE OPPORTUNITIES FOR PERSONS WHO ARE BLIND OR VISUALLY-IMPAIRED AND ARE IN NEED OF TRAINING, EMPLOYMENT AND SERVICES. 1 0 22062800 18850 29835138 OPERATION OF A QUALIFIED ABILITYONE AGENCY THAT PROVIDES TRAINING, EMPLOYMENT AND SERVICES FOR THE BLIND AND VISUALLY-IMPAIRED. THROUGH THESE EFFORTS, WE SELL MERCHANDISE THAT IS PRODUCED BY OUR EMPLOYEES, MOST OF WHOM ARE BLIND OR VISUALLY-IMPAIRED. WE ALSO OPERATE STORES THAT SELL PRODUCTS MADE BY THE BLIND AND VISUALLY-IMPAIRED ALONG WITH OTHER MERCHANDISE. THE RESULTS OF THESE EFFORTS ARE THE EMPLOYMENT OF 396 INDIVIDUALS WHO ARE BLIND AND THE GENERATION OF 506,977 BLIND DIRECT LABOR HOURS AND 64,134 BLIND INDIRECT LABOR HOURS. 22062800 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 1 1 0 0 0 0 0 1 1 1 0 0 1 100 0 1 679 1 0 0 0 0 0 0 0 0 0 0 X 21 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X SAM D GEORGE JR CFO 3362455615 7730 NORTH POINT DRIVE WINSTONSALEM NC 27106 SHIRLEY SHOUSE DIRECTOR 1.00 X 0 0 0 LOUIS GOTTLIEB DIRECTOR 1.00 X 0 0 0 KAREN CAREY VICE CHAIR/SECRETARY, DIRECTOR 1.00 X 0 0 0 DEAN VAVRA DIRECTOR 1.00 X 0 0 0 DAVID GOOGE DIRECTOR 1.00 X 0 0 0 PATRICK GRANTHAM DIRECTOR 1.00 X 0 0 0 LISA CALDWELL DIRECTOR 1.00 X 0 0 0 HEATHER ROBINSON DIRECTOR 1.00 X 0 0 0 COOK GRIFFIN DIRECTOR 1.00 X 0 0 0 CHARLES PINE DIRECTOR 1.00 X 0 0 0 ANN JOHNSTON DIRECTOR 1.00 X 0 0 0 GILMOUR LAKE DIRECTOR 1.00 X 0 0 0 JIM O'NEILL DIRECTOR 1.00 X 0 0 0 MIKE FAIRCLOTH CHAIR, DIRECTOR 1.00 X 0 0 0 KATHRYN GARNER ASSISTANT SECRETARY, DIRECTOR 1.00 X 0 0 0 DAVID PLYLER DIRECTOR 1.00 X 0 0 0 JOHN BRAIS ASSISTANT TREASURER, DIRECTOR 1.00 X 0 0 0 JEFF CLARK DIRECTOR 1.00 X 0 0 0 BOB NEWELL TREASURER, DIRECTOR 1.00 X 0 0 0 TODD LYNCH DIRECTOR 1.00 X 0 0 0 CARVER RUDOLPH DIRECTOR 1.00 X 0 0 0 JOHN WIGODSKY DIRECTOR 1.00 X 0 0 0 DANIEL BOUCHER EXECUTIVE CHAIRMAN 40.00 X 421656 0 21219 DAVID HORTON EXECUTIVE DIRECTOR 40.00 X 368306 0 24755 SAM D GEORGE JR CHIEF FINANCIAL OFFICER 40.00 X 236692 0 20418 PAMELA MILLER VP OF OPTICAL DEVELOPMENT 40.00 X 144099 0 20949 DANIEL KELLY VP OF OPERATIONS 40.00 X 183911 0 22456 DAVID HAMPTON VP OF HUMAN RESOURCES 40.00 X 154056 0 21413 DAVID BARNWELL VP OF DEVELOPMENT 40.00 X 134699 0 17592 WILLARD SPIVEY SENIOR VP OF MARKETING & B 40.00 X 233757 0 16894 JERRY O'HAGAN DIRECTOR OF BASE SUPPLY CE 40.00 X 194829 0 13786 GARY MENDELSOHN DIRECTOR OF SUPPLY CHAIN 40.00 X 105417 0 16249 RANDY BUCKNER DIRECTOR OF ASHEVILLE OPER 40.00 X 136589 0 20812 SILAS MARTIN DIRECTOR OF IT & E-COMMERC 40.00 X 135727 0 11786 DANIEL CARSON PROGRAM DIRECTOR OF CONSUMER GOODS 40.00 X 180672 0 6065 KEVIN DOOLEY ASSISTANT CONTROLLER 40.00 X 101746 0 3488 2732156 0 237882 14 0 1 0 WINSTON PERSONNEL GROUP 253 EXECUTIVE PARK BLVD WINSTONSALEM NC 27103 TEMPORARY EMPLOYEES 1211597 WILKES VOCATIONAL SERVICES 501 ELKIN HIGHWAY NORTH WILKESBORO NC 28659 TEMPORARY EMPLOYEES 464269 SOUTHEASTERN OCCUPATIONAL SERVICES PA 100 CEDARWOOD CREEK CT WINSTONSALEM NC 27104 MEDICAL SERVICES 276343 THE OPPORTUNITIES GROUP INC 415 CLAREMONT AVE UNIT 4-C MONTCLAIR NJ 07042 SALES CONSULTING 189657 ADECCO EMPLOYMENT SERVICES PO BOX 371804 PITTSBURGH PA 15250 TEMPORARY EMPLOYEES 176992 9 977265 531060 3241 1508325 146522 146522 595014 26000 596705 13298 -1691 12702 11011 11011 114583093 84702969 29880124 29880124 MISCELLANEOUS INCOME 900099 17822 17822 PASS-THRU INCOME(LOSS) 900099 -76864 -44986 -31878 -59042 31486940 29835138 -31878 175355 13031 13031 5819 5819 1005928 502964 502964 7698314 6230583 1270088 197643 7231127 6544387 619176 67564 1517603 1408207 98425 10971 98253 98253 82392 82392 7593 7593 7787 7787 2623033 2623033 247228 131976 115252 1055211 945745 109466 218356 182191 36165 766681 604436 162245 34552 34552 3699217 3699217 1174204 1012416 161788 68626 68626 EMPLOYEE ACTIVITIES 144811 144811 TRUCK EXPENSES 128455 122384 6071 DUES AND MEMBERSHIPS 32433 32433 UNIFORMS 21280 21280 357742 357742 28239676 22062800 5900698 276178 8650426 13243197 2650083 0 245215 124716 9979508 8675523 238444 252005 8576203 8116735 628534 252773 24235415 12090511 12064798 12144904 950272 7043152 43983483 49853005 11460061 14012986 1280992 1176000 301169 401069 13042222 15590055 X 30549775 33927262 195316 139518 196170 196170 30941261 34262950 43983483 49853005 X 3247264 53055 21370 X 0 1 X 1 0 X 590447 1055929 863147 527977 1508325 4545825 115088903 133913149 116647870 104871931 114583093 585104946 115679350 134969078 117511017 105399908 116091418 589650771 34750 168041 1000 10806 1371 215968 56559293 56749674 46846713 39159423 56084639 255399742 56594043 56917715 46847713 39170229 56086010 255615710 334035061 11939 19206 5570 32788 146522 216025 159656 362670 201392 723718 171595 381876 206962 32788 146522 939743 340202 -45990 -346520 -85705 -27164 -165177 116191147 135304964 117371459 105346991 116210776 590425337 0.56580 0.55740 0.00160 0.00140 X SCHEDULE A, PART III, SECTION B, LINE 12 SUPPORT REPORTED ON LINE 12 INCLUDES MISCELLANEOUS INCOME AND PASS-THRU INCOME/(LOSS). RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 1 7593 0 7593 0 SCHEDULE C, PART II-B, LINE 1(H) RALLIES, DEMONSTRATIONS, SEMINARS, CONVENTIONS, SPEECHES, LECTURES, OR ANY SIMILAR MEANS: IN MAY 2014 OFFICERS AND STAFF MEMBERS OF WINSTON-SALEM INDUSTRIES FOR THE BLIND, INC. (IFB) ATTENDED THE NATIONAL INDUSTRIES FOR THE BLIND PUBLIC POLICY FORUM. THE ATTENDEES MET WITH SENATORS AND OTHER LEGISLATORS TO DISCUSS LAWS RELATING TO THE BLIND AND VISUALLY-IMPAIRED POPULATIONS. 268150 35251 2663 300738 244283 25755 1888 268150 222850 23175 1742 244283 203706 9916 10885 1657 222850 177462 12446 15169 1371 203706 1.00000 1 0 1711454 1711454 8911696 4709583 4202113 3436259 409577 3026682 8353409 5634298 2719111 1822597 1337053 485544 12144904 OTHER RECEIVABLES 429277 ENDOWED ASSETS 300738 INVESTMENTS UNDER SECTION 457(B) PLAN 234252 RESERVE FUND INVESTMENTS 6078885 7043152 DEFERRED COMPENSATION 401069 401069 X 31600335 53055 59460 -55492 57023 31543312 7787 -64159 -56372 31486940 28278647 59460 59460 28219187 7787 12702 20489 28239676 PART V, LINE 4: THE ENDOWMENT WAS ESTABLISHED TO PROVIDE A PERMANENT FUND WHICH MAY BE USED TO SUPPORT THE ONGOING NEEDS OF IFB. PART X, LINE 2: IFB IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, IFB QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). ALTHOUGH MANAGEMENT HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT TO MAINTAIN ITS TAX-EXEMPT STATUS, THE FINANCIAL STATEMENTS REFLECT A PROVISION AND LIABILITY FOR FEDERAL AND STATE INCOME TAXES RESULTING FROM UNRELATED BUSINESS INCOME(LOSS) GENERATED BY THE OPERATIONS OF A COMPANY IN WHICH IFB HELD A 49% MEMBER INTEREST THROUGH JUNE 2013. EXCEPT FOR THE DISCLOSURE HEREIN, MANAGEMENT HAS DETERMINED THAT THERE ARE NO OTHER MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2014 AND 2013. FISCAL YEARS ENDING ON OR AFTER SEPTEMBER 30, 2011 REMAIN SUBJECT TO EXAMINATION BY FEDERAL TAXING AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: NET UNREALIZED LOSS ON RESERVE FUND -55,492. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS GAIN ON DISPOSAL OF FIXED ASSETS TO REVENUE 12,702. RECLASS PASS-THRU INCOME (LOSS) -76,861. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS GAIN ON DISPOSAL OF FIXED ASSETS TO REVENUE 12,702. 1 SCHOLARSHIPS FOR HIGHER EDUCATION 4 3000 TUITION REIMBURSEMENT 4 2819 PART I, LINE 2: IFB OFFERS TWO SCHOLARSHIPS, ONE OF WHICH IS AVAILABLE ONLY TO ELIGIBLE SIGHTED, BLIND AND VISUALLY-IMPAIRED EMPLOYEES WHO ARE FULL-TIME AND HAVE ONE YEAR OF SERVICE AND THE OTHER SCHOLARSHIP IS AVAILABLE ONLY TO ELIGIBLE BLIND AND VISUALLY-IMPAIRED EMPLOYEES AND THEIR DEPENDENTS. TO BE ELIGIBLE FOR THESE SCHOLARSHIPS A CANDIDATE MUST BE ACCEPTED TO, OR CURRENTLY ATTENDING, A POST-SECONDARY EDUCATIONAL INSTITUTION. EACH CANDIDATE MUST SUBMIT A SCHOLARSHIP APPLICATION, EVIDENCE OF ACCEPTANCE OR ATTENDANCE, AND THE BILL FOR TUITION FROM THEIR RESPECTIVE SCHOOLS. SCHOLARSHIP RECIPIENTS ARE CHOSEN FROM THE POOL OF CANDIDATES BY A COMMITTEE CONSISTING OF HUMAN RESOURCES AND EXECUTIVE MANAGEMENT. THE AMOUNTS OF INDIVIDUAL SCHOLARSHIP AWARDS ARE DETERMINED BASED ON THE INDIVIDUAL'S COST OF TUITION AND THE NUMBER OF CANDIDATES APPLYING FOR EACH SCHOLARSHIP. ALSO PROVIDED IS TUITION REIMBURSEMENT FOR SIGHTED, BLIND AND VISUALLY-IMPAIRED EMPLOYEES. EMPLOYEES WISHING TO RECEIVE REIMBURSEMENT MUST COMPLETE A REQUEST FORM DETAILING THE COURSES THEY WISH TO TAKE AND HOW THOSE COURSES CONTRIBUTE TO THEIR CURRENT POSTION WITHIN THE COMPANY. THESE FORMS ARE REVIEWED AND APPROVED BY THE IMMEDIATE SUPERVISOR AND THE HUMAN RESOURCES MANAGERS. UPON COMPLETION OF THE COURSE(S), THE EMPLOYEE SUBMITS A GRADE REPORT, AND AS LONG AS A GRADE OF C OR BETTER IS RECEIVED THE EMPLOYEE IS REIMBURSED FOR THE COST OF TUITION. X 1 1 X X X X X X 0 1 0 0 0 1 0 0 0 DANIEL BOUCHER EXECUTIVE CHAIRMAN 271189 0 132040 0 18427 0 7650 0 13569 0 442875 0 61249 0 DAVID HORTON EXECUTIVE DIRECTOR 255441 0 100699 0 12166 0 7650 0 17105 0 393061 0 56259 0 SAM D GEORGE JR CHIEF FINANCIAL OFFICER 165005 0 69388 0 2299 0 7239 0 13179 0 257110 0 32353 0 PAMELA MILLER VP OF OPTICAL DEVELOPMENT 103507 0 39787 0 805 0 4495 0 16454 0 165048 0 19352 0 DANIEL KELLY VP OF OPERATIONS 125367 0 46799 0 11745 0 5814 0 16642 0 206367 0 24570 0 DAVID HAMPTON VP OF HUMAN RESOURCES 124736 0 28960 0 360 0 4780 0 16633 0 175469 0 13030 0 DAVID BARNWELL VP OF DEVELOPMENT 109185 0 25334 0 180 0 4185 0 13407 0 152291 0 6300 0 WILLARD SPIVEY SENIOR VP OF MARKETING & B 196236 0 36891 0 630 0 0 0 16894 0 250651 0 0 0 JERRY O'HAGAN DIRECTOR OF BASE SUPPLY CE 142922 0 50093 0 1814 0 5880 0 7906 0 208615 0 31411 0 RANDY BUCKNER DIRECTOR OF ASHEVILLE OPER 104684 0 31610 0 295 0 4257 0 16555 0 157401 0 18381 0 DANIEL CARSON PROGRAM DIRECTOR OF CONSUMER GOODS 146250 0 33760 0 662 0 5420 0 645 0 186737 0 18614 0 PART I, LINE 1A AN OFFICER OF IFB MAINTAINS A MEMBERSHIP IN A LOCAL SOCIAL CLUB THAT PROVIDES MEETING AND DINING FACILITIES IN A PROFESSIONAL BUSINESS SETTING. THE OFFICER MAINTAINS THIS MEMBERSHIP PREDOMINATELY FOR THE PURPOSE OF ALLOWING ACCESS TO THE CLUB FACILITIES TO IFB TO CONDUCT BUSINESS AND PLANNING MEETINGS AT THE CLUB FACILITIES ATTENDED BY IFB EMPLOYEES, DIRECTORS, CUSTOMERS AND VENDORS. THIS ARRANGEMENT IS NECESSARY BECAUSE THE CLUB ONLY ACCEPTS INDIVIDUAL MEMBERS, AND NOT CORPORATE OR BUSINESS MEMBERS, AND THE CLUB IS THE ONLY ONE OF ITS KIND IN THE REASONABLY IMMEDIATE AREA. IFB PAYS THE MONTHLY CLUB DUES ON BEHALF OF THE OFFICER DIRECTLY TO THE CLUB AND IS SUBSEQUENTLY REIMBURSED BY THE OFFICER FOR ANY PORTION OF THE MONTHLY DUES OR CHARGES RELATED TO NON-BUSINESS USE. PART I, LINE 4B IFB SPONSORS A 457(F) DEFERRED COMPENSATION RETIREMENT PLAN IN WHICH THE FOLLOWING EMPLOYEES PARTICIPATE. AMOUNTS SHOWN REPRESENT PAYMENTS FROM THE PLAN DURING 2013. DANIEL BOUCHER ($68,630.00) DAVID HORTON ($42,294.00) SAM GEORGE, JR. ($35,640.00) DAVID HAMPTON ($14,848.00) DANIEL KELLY ($21,129.00) WILLARD SPIVEY ($35,200.00) PAMELA MILLER ($14,620.00) GERALD O'HAGAN ($13,333.00) RANDY BUCKNER ($9,053.00) DAVID BARNWELL ($12,063.00) GARY MENDELSOHN ($7,600.00) DANIEL CARSON ($13,920.00) PART I, LINE 6 IFB MAINTAINS THE GAINSHARE INCENTIVE PROGRAM FOR THE BENEFIT OF ALL EMPLOYEES NOT PARTICIPATING IN THE 457(F) DEFERRED COMPENSATION RETIREMENT PLAN. THIS INCENTIVE PROGRAM IS BASED ON THE ATTAINMENT OF OPERATING RESULTS FOR FINANCIAL METRICS/PERFORMANCE TARGETS THAT EXCEED THOSE TARGETS ESTABLISHED BY THE ORGANIZATION'S BOARD OF DIRECTORS. DANIEL BOUCHER X 252005 252005 0 1 1 252005 SHIRLEY SHOUSE DIRECTOR 1279175 SEE PART V. 0 JESUS MANGUAL FORMER OFFICER 152000 SEE PART V. 0 LAURA TRUE CHILD OF FORMER OFFICER 50610 SEE PART V. 0 SCHEDULE L, PART II, LOANS TO AND/OR FROM INTERESTED PERSONS: (A) NAME OF INTERESTED PERSON: DANIEL BOUCHER(A) PURPOSE OF LOAN: LIFE INSURANCE PREMIUMS.THE RELATED PARTY RECEIVABLE BETWEEN IFB AND DANIEL BOUCHER, AN OFFICER OF THE ORGANIZATION, IS RELATED TO A SPLIT-DOLLAR LIFE INSURANCE AGREEMENT WHEREBY DANIEL BOUCHER OWNS THE LIFE INSURANCE POLICY AND IFB PAYS THE PREMIUMS REQUIRED TO MAINTAIN THE POLICY. IN CONJUNCTION WITH THE AGREEMENT, DANIEL BOUCHER HAS EXECUTED A COLLATERAL ASSIGNMENT IN FAVOR OF IFB THAT SECURES THE REPAYMENT TO IFB OF THE AMOUNT OF PREMIUMS PAID ON THE POLICY. THE RECEIVABLE IS RECORDED AT THE PRESENT VALUE OF PREMIUMS PAID TO DATE BASED ON THE APPLICABLE RISK-FREE RATE OF RETURN AND THE LIFE EXPECTANCY OF THE OFFICER AS DETERMINED BY STANDARD MORTALITY TABLES.SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:(A) NAME OF INTERESTED PERSON: SHIRLEY SHOUSE(D) DESCRIPTION OF TRANSACTION: EMPLOYMENT SERVICES PROVIDED BY A COMPANY OWNED BY THE INTERESTED PERSON.SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:(A) NAME OF INTERESTED PERSON: JESUS MANGUAL(D) DESCRIPTION OF TRANSACTION: CONSULTING SERVICES PROVIDED BY THE INTERESTED PERSON AND BY SUPERGROUP CONSULTING, LLC, THE CONSULTING COMPANY 100% OWNED BY THE INTERESTED PERSON.SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:(A) NAME OF INTERESTED PERSON: LAURA TRUE(D) DESCRIPTION OF TRANSACTION: EMPLOYMENT WITH IFB. FORM 990, PART III, LINE 2 EFFECTIVE AUGUST 31, 2014, IFB ACQUIRED CONTROL OF THE ARKANSAS LIGHTHOUSE FOR THE BLIND, INC., A NOT-FOR-PROFIT ORGANIZATION LOCATED IN LITTLE ROCK, ARKANSAS. FORM 990, PART VI, SECTION A, LINE 1 ALL MEMBERS OF THE BOARD OF DIRECTORS, EXCEPT THOSE WHO ARE CONSIDERED TO BE EX-OFFICIO (NON-VOTING) MEMBERS AS PRESCRIBED BY THE ORGANIZATION'S BYLAWS, HAVE FULL AND EQUAL VOTING RIGHTS WITH RESPECT TO ALL MATTERS THAT COME FOR THE CONSIDERATION OF THE BOARD OF DIRECTORS. IF THE TERM OF OFFICE AS A DIRECTOR HAS ENDED, THE IMMEDIATE PAST CHAIR OF THE BOARD BECOMES AN EX-OFFICIO BOARD MEMBER FOR A TERM OF ONE YEAR ONCE THAT INDIVIDUAL'S TERM AS CHAIR OF THE BOARD ENDS, AND DURING THAT TIME PERIOD, HAS NO VOTING RIGHTS RELATING TO MATTERS BEFORE THE BOARD. THE BOARD-APPOINTED EXECUTIVE COMMITTEE HAS AND MAY EXERCISE ALL OF THE AUTHORITY AND POWERS OF THE FULL BOARD OF DIRECTORS IN THE MANAGEMENT OF THE ORGANIZATION DURING INTERVALS BETWEEN REGULARLY-SCHEDULED BOARD MEETINGS. FORM 990, PART VI, SECTION B, LINE 11 AFTER REVIEW BY FINANCIAL MANAGEMENT PERSONNEL AT IFB, THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD, THE GOVERNANCE BODY CHARGED WITH APPROVAL OF THE FILING OF THE RETURN, IN ADVANCE OF A SCHEDULED MEETING OF THE AUDIT COMMITTEE FOR THE PURPOSE OF CONDUCTING A DETAILED REVIEW OF THE FORM 990. THE CHIEF FINANCIAL OFFICER (CFO) AND A REPRESENTATIVE FROM IFB'S TAX RETURN PREPARER MEET WITH THE AUDIT COMMITTEE FOR AN IN-DEPTH REVIEW OF THE FORM 990. FROM THIS MEETING, THE AUDIT COMMITTEE APPROVES THE RETURN FOR FILING AS PREPARED, OR WITH AGREED-UPON CHANGES. FOLLOWING AUDIT COMMITTEE APPROVAL, A COPY OF THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO TIMELY FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE CORPORATE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS DISTRIBUTES A CONFLICTS OF INTEREST DISCLOSURE STATEMENT TO ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES. THE COMMITTEE, ALONG WITH COMPLIANCE PERSONNEL, EXAMINE THE COMPLETED STATEMENTS AND PROMPTLY INVESTIGATE AND RESOLVE ANY REAL OR PERCEIVED CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL COMPENSATION OF THE EXECUTIVE DIRECTOR AND EXECUTIVE CHAIRMAN IS SET BY THE BOARD OF DIRECTORS. THE BOARD CONDUCTS ANNUAL PERFORMANCE EVALUATIONS OF THE EXECUTIVE DIRECTOR AND EXECUTIVE CHAIRMAN, AND ALONG WITH THE RESULTS OF THE EVALUATIONS, THE BOARD USES PERIODIC COMPENSATION SURVEYS CONDUCTED BY OUTSIDE CONSULTANTS AND CONSULTS COMPARATIVE COMPENSATION DATA RELATED TO THE COMPENSATION PACKAGES OF TOP EXECUTIVES AT ORGANIZATIONS OF SIMILAR SIZE AND MISSION, INCLUDING EXAMINATION OF THE ORGANIZATIONS' FORMS 990, IN ORDER TO DETERMINE THE COMPENSATION OF THE EXECUTIVE DIRECTOR AND EXECUTIVE CHAIRMAN ON A YEARLY BASIS. FOR OTHER OFFICERS AND KEY EMPLOYEES, ANNUAL COMPENSATION IS SET BY THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR CONDUCTS AN ANNUAL PERFORMANCE EVALUATION FOR EACH OFFICER AND KEY EMPLOYEE, AND ALONG WITH THE RESULTS OF THE EVALUATION, THE EXECUTIVE DIRECTOR CONSULTS COMPARATIVE COMPENSATION DATA RELATED TO OFFICERS AND KEY EMPLOYEES AT ORGANIZATIONS OF SIMILAR SIZE AND MISSION, INCLUDING EXAMINATION OF THE ORGANIZATIONS' FORMS 990, IN ORDER TO DETERMINE EACH OFFICER'S AND KEY EMPLOYEE'S COMPENSATION ON A YEARLY BASIS. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE MAINTAINED BY THE EXECUTIVE ASSISTANT TO THE EXECUTIVE DIRECTOR. THIS EMPLOYEE MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE MAINTAINED BY THE CFO. THE CFO MAKES THESE STATEMENTS, AS DISCLOSED IN THE FORM 990, AVAILABLE UPON REQUEST. ALSO, SUMMARIZED FINANCIAL INFORMATION IS INCLUDED IN THE ORGANIZATION'S ANNUAL REPORT. THE CONFLICT OF INTEREST POLICY IS MAINTAINED BY THE CORPORATE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS. THE COMMITTEE CHAIR MAKES THIS POLICY AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: NET UNREALIZED GAINS (LOSSES) ON RESERVE FUND -55,492. K-1 INCOME (LOSS) 76,862. A BRIGHTER PATH FOUNDATION 7730 NORTH POINT DRIVE WINSTONSALEM NC 27106 263376328 SUPPORTING WINSTON-SALEM INDUSTRIES FOR THE BLIND, INC. NC 501(C)(3) 509(A)(3), TYPE I N/A 1 THE ARKANSAS LIGHTHOUSE FOR THE BLIND INC 6818 MURRAY STREET LITTLE ROCK AR 72209 710233257 ORGANIZATION CONTROLLED BY WINSTON-SALEM INDUSTRIES FOR THE BLIND, INC. AR 501(C)(3) LINE 9 WINSTON-SALEM INDUSTRIES FOR THE BLIND INC 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 A BRIGHTER PATH FOUNDATION INC O 180000 FAIR VALUE OF SERVICES RENDERED A BRIGHTER PATH FOUNDATION INC C 977265 FMV THE ARKANSAS LIGHTHOUSE FOR THE BLIND INC D 1380000 FMV OF DEBT BALANCE FORM 990, SCHEDULE R, PART V, LINE 1D ON SEPTEMBER 30, 2014, WINSTON-SALEM INDUSTRIES FOR THE BLIND, INC. ENTERED INTO A GUARANTY AGREEMENT GUARANTEEING THE FULL AND TIMELY PERFORMANCE OF THE ARKANSAS LIGHTHOUSE FOR THE BLIND, INC. OBLIGATIONS TO A BANK.