2014-05-14T06:26:10-05:00 2013-06-30 560747981 DIXON HUGHES GOODMAN LLP 500 RIDGEFIELD COURT ASHEVILLE NC 28806 990 2012-07-01 560686307 L C INDUSTRIES INC LCIN 9195968277 4500 EMPEROR BOULEVARD DURHAM NC 27703 RICHARD STALLINGS 9195968277 2014-05-14 1 AMY BIBBY P00445891 8282542254 2012 2015-11-30 17:44:51Z WILLIAM HUDSON 4500 EMPEROR BOULEVARD DURHAM NC 27703 230691299 0 X WWW.BUYLCI.COM X 1958 NC TO EMPLOY AND TEACH THE VISUALLY HANDICAPPED 8 7 920 7 28600 0 0 0 0 0 531115 794903 66951460 56130116 67482575 56925019 6164700 12082000 0 0 25484588 27545867 0 0 0 22262582 22738884 53911870 62366751 13570705 -5441732 196517222 190733180 19408418 19066108 177108804 171667072 THE ORGANIZATION'S MISSION IS TO PROVIDE MEANINGFUL EMPLOYMENT FOR PEOPLE WHO ARE LEGALLY BLIND. 0 0 48583743 12082000 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 10/1/2012 CONSISTED OF 363 INDIVIDUALS. THIRTY-THREE ADDITIONAL INDIVIDUALS WERE ADDED TO THE DIRECT BLIND WORKFORCE FOR THE TAX YEAR. 48583743 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 1 0 0 1 47 0 1 920 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 5.00 X 0 0 0 TED GRIFFIN 5.00 X 0 0 0 JOE M LEE III 5.00 X 0 0 0 TOM WHITE 5.00 X 0 0 0 JOHN MALLARD 5.00 X 0 0 0 ERNIE ROESSLER 5.00 X 0 0 0 STEVE HARRIS 5.00 X 0 0 0 WILLIAM HUDSON 40.00 5.00 X X 916105 0 38185 RICHARD STALLINGS 40.00 X 426183 0 37967 JEFFREY HAWTING 40.00 X 249560 0 38183 JEFF SCHWARTZ 40.00 X 565794 0 31787 DELBERT L WHITE 40.00 X 240031 0 16266 WILLIAM H BLACKTON 40.00 X 179874 0 32630 JEFFERSON S EASTERLING 40.00 X 172086 0 28259 MARISA O CHRISMON 40.00 X 161400 0 11157 EDDIE R GAGNE 40.00 X 175392 0 26163 KENNETH W EDWARDS 40.00 X 151079 0 29197 MICHAEL W GRAFTON 40.00 X 139781 0 33462 DUWAYNE GILBERTSON 40.00 X 136484 0 8165 TERRENCE T MANNS 40.00 X 132600 0 70 3646369 0 331491 21 0 1 0 PARISELLI VINDELLI ASSOCIATES 101 FEDERAL ST SUITE 1900 BOSTON MA 02110 STREAMLINE MANUFACTURING PROCESS 521050 DIXON HUGHES GOODMAN 2501 BLUE RIDGE RD SUITE 500 RALEIGH NC 27607 INDEPENDENT AUDITORS 293999 TRANSATLANTIC GROUP 3 MERIDIAN LANE STAFFORD VA 22556 SALES CONSULTANT 145139 GUILLUAME CONSULTING 917 1ST ST SOUTH UNIT 1002 JACKSONVILLE BEACH FL 32250 ERP IMPLEMENTATION 139973 4 741358 741358 35640 0 35640 35640 35640 2888256 2850 2836366 1195 51890 1655 53545 53545 226752701 170928719 55823982 55823982 COMMISSIONS 900099 190277 190277 MISCELLANEOUS 900099 51617 51617 ADVERTISING 900099 28600 28600 270494 56925019 56065876 28600 830543 12082000 12082000 2633227 1725726 907501 18641244 12728405 5912839 2553633 1866291 687342 2135262 1659125 476137 1582501 1217406 365095 43702 575 43127 319699 319699 4165746 3037164 1128582 100584 4167 96417 7415413 6608180 807233 393903 81845 312058 2402880 2097547 305333 748535 352219 396316 760801 383824 376977 2635481 2134805 500676 621576 579103 42473 COMMISSIONS 2187051 2001413 185638 BAD DEBT EXPENSE 943435 23948 919487 MISCELLANEOUS 78 0 78 62366751 48583743 13783008 0 57929886 45549800 18132296 14639683 13749079 13979934 48953429 52311959 1660560 703651 76696331 37257810 39377933 39438521 22297565 4893683 131122 10103732 1680945 1716624 0 196517222 190733180 15705316 16165895 1167031 2536071 2900213 19408418 19066108 X 177108804 171667072 177108804 171667072 196517222 190733180 -5441732 0 X X 0 1 X 1 0 X 222051807 235919595 266579880 247733877 226994595 1199279754 222051807 235919595 266579880 247733877 226994595 1199279754 0 0 0 1199279754 1517625 1061367 939526 592390 776989 4887897 27100 27100 1517625 1061367 939526 592390 804089 4914997 170943 108937 174313 238949 693142 223740375 237089899 267693719 248565216 227798684 1204887893 0.99530 0.99450 0.00410 0.00480 X 789302 3812487 4601789 24385371 7247526 17137845 7149705 2850497 4299208 32688608 22343591 10345017 7870858 4816196 3054662 39438521 CUSTOMER DEPOSITS 1639645 PENSION LIABILITY 1260568 2900213 X 56925019 0 56925019 0 56925019 50366751 0 50366751 12000000 12000000 62366751 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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, 2013 AND 2012. THE COMPANY BELIEVES THEY ARE NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR JUNE 30, 2010. PART XII, LINE 4B - OTHER ADJUSTMENTS: DONATION TO FOUNDATION 12,000,000. 0 USO OF NORTH CAROLINA PO BOX 91536 RALEIGH NC 27625 560532315 501(C)(3) 75000 OPERATIONAL SUPPORT CITY OF HOPE 1500 E DUARTE RD DUARTE CA 91010 953435918 501(C)(3) 6000 OPERATIONAL SUPPORT L C INDUSTRIES FOUNDATION 4500 EMPEROR BLVD DURHAM NC 27703 455200306 501(C)(3) 12000000 OPERATIONAL SUPPORT 3 0 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, 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 571158 0 339196 0 5751 0 22500 0 15685 0 954290 0 5486 0 RICHARD STALLINGS 266070 0 157000 0 3113 0 22500 0 15467 0 464150 0 3169 0 JEFFREY HAWTING 188858 0 58200 0 2502 0 18000 0 20183 0 287743 0 2388 0 JEFF SCHWARTZ 335544 0 216000 0 14250 0 16320 0 15467 0 597581 0 5470 0 DELBERT L WHITE 174481 0 60000 0 5550 0 9876 0 6390 0 256297 0 0 0 WILLIAM H BLACKTON 143809 0 34000 0 2065 0 12447 0 20183 0 212504 0 0 0 JEFFERSON S EASTERLING 162086 0 10000 0 0 0 22500 0 5759 0 200345 0 0 0 MARISA O CHRISMON 135400 0 26000 0 0 0 4842 0 6315 0 172557 0 0 0 EDDIE R GAGNE 143031 0 31600 0 761 0 10478 0 15685 0 201555 0 0 0 KENNETH W EDWARDS 135079 0 16000 0 0 0 9065 0 20132 0 180276 0 0 0 MICHAEL W GRAFTON 116531 0 23250 0 0 0 13279 0 20183 0 173243 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 124040 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 1058969 761835 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 12000000