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Nonprofiteer
← WINSTON-SALEM INDUSTRIES FOR THE BLIND INC

Form 990 for tax year 2024

Filed by WINSTON-SALEM INDUSTRIES FOR THE BLIND INC.

Totals

Total revenue
$25,882,353
Total expenses
$24,140,961
Contributions and grants received
$1,660,303
Grants paid
$7,000
Program service revenue
$0
Investment income
$80,649
Other revenue
$24,141,401
Total assets, end of year
$42,962,333
Total liabilities, end of year
$19,777,998
Net assets or fund balances, end of year
$23,184,335
Program services expenses (Part IX)
$14,455,239
Management and general expenses
$9,292,733
Fundraising expenses
$392,989
Program service expenses (Part III)
$14,455,239

Program services were 59.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $150,010

  • 1e · Government grants (contributions)

    $147,358

  • 1f · All other contributions, gifts and grants

    $1,362,935

  • 1g · Noncash contributions included above

    $11,333

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $36,873 · excluded $36,873

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $1,176,040 · other assets $60,220

  • 7b · Less cost or other basis and sales expenses

    securities $1,156,292 · other assets $36,192

  • 7c · Gain or loss

    securities $19,748 · other assets $24,028

  • 7d · Net gain or loss

    total $43,776 · excluded $43,776

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $150,010

  • 8b · Fundraising events: direct expenses

    $49,669

  • 8c · Net income from fundraising events

    total -$49,669 · excluded -$49,669

  • 10a · Gross sales of inventory

    $138,203,268

  • 10b · Cost of goods sold

    $114,676,582

  • 10c · Net income from sales of inventory

    total $23,526,686 · related or exempt $23,526,686

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $664,384 · excluded $664,384

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $664,384

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $7,000 · program services $7,000

  • 5 · Compensation of officers, directors and key employees

    total $1,648,973 · program services $787,998 · management and general $814,205 · fundraising $46,770

  • 7 · Other salaries and wages

    total $5,627,386 · program services $2,826,555 · management and general $2,605,744 · fundraising $195,087

  • 8 · Pension plan contributions

    total $958,968 · program services $458,264 · management and general $473,505 · fundraising $27,199

  • 9 · Other employee benefits

    total $3,327,193 · program services $1,451,791 · management and general $1,819,189 · fundraising $56,213

  • 10 · Payroll taxes

    total $694,007 · program services $332,444 · management and general $339,201 · fundraising $22,362

  • 11b · Fees: legal

    total $26,964 · management and general $26,964

  • 11c · Fees: accounting

    total $199,165 · management and general $199,165

  • 11d · Fees: lobbying

    total $109,706 · management and general $109,706

  • 11f · Fees: investment management

    total $6,260 · management and general $6,260

  • 11g · Fees: other

    total $1,559,324 · program services $855,262 · management and general $700,523 · fundraising $3,539

  • 13 · Office expenses

    total $521,839 · program services $93,765 · management and general $406,118 · fundraising $21,956

  • 16 · Occupancy

    total $540,212 · program services $466,964 · management and general $73,248

  • 17 · Travel

    total $347,856 · program services $141,314 · management and general $192,350 · fundraising $14,192

  • 20 · Interest

    total $251,225 · program services $251,225

  • 21 · Payments to affiliates

    total $5,226,055 · program services $5,205,305 · management and general $20,750

  • 22 · Depreciation, depletion and amortization

    total $1,919,999 · program services $1,155,478 · management and general $764,521

  • 24a · Other expenses: MISCELLANEOUS AND OTHER EXPENSES

    total $1,159,008 · program services $412,053 · management and general $741,284 · fundraising $5,671

  • 24b · Other expenses: RESTRUCTURING CHARGES

    total $9,821 · program services $9,821

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,626,579 · end of year $2,065,135

  • 2 · Savings and temporary cash investments

    end of year $1,334,507

  • 3 · Pledges and grants receivable

    beginning of year $445,876 · end of year $269,277

  • 4 · Accounts receivable

    beginning of year $7,971,906 · end of year $6,790,169

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $25,462,083 · end of year $19,807,465

  • 9 · Prepaid expenses and deferred charges

    beginning of year $351,448 · end of year $524,522

  • 10a · Land, buildings and equipment: cost or other basis

    $24,689,580

  • 10b · Land, buildings and equipment: accumulated depreciation

    $15,745,102

  • 10c · Land, buildings and equipment, net

    beginning of year $9,691,268 · end of year $8,944,478

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $2,468,451 · end of year $2,141,510

  • 15 · Other assets

    beginning of year $1,738,117 · end of year $1,085,270

  • 17 · Accounts payable and accrued expenses

    beginning of year $23,962,971 · end of year $18,348,341

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $3,748,137 · end of year $0

  • 25 · Other liabilities

    beginning of year $629,852 · end of year $1,429,657

  • 27 · Net assets without donor restrictions

    beginning of year $20,383,575 · end of year $22,483,418

  • 28 · Net assets with donor restrictions

    beginning of year $1,031,193 · end of year $700,917

Mission and programs · 2024

Mission

TO PROVIDE OPPORTUNITIES FOR PERSONS WHO ARE BLIND OR VISUALLY-IMPAIRED AND ARE IN NEED OF TRAINING, EMPLOYMENT AND SERVICES.

Activities or mission (Part I)

TO TRAIN, EMPLOY AND SERVE VISUALLY-IMPAIRED INDIVIDUALS.

  • OPERATION OF A QUALIFIED ABILITYONE AGENCY: IN FISCAL YEAR 2025, IFB SOLUTIONS PROVIDED ESSENTIAL TRAINING, EMPLOYMENT AND SERVICES FOR PEOPLE WHO ARE BLIND OR VISUALLY IMPAIRED THROUGH LARGE-SCALE MANUFACTURING OPERATIONS, BASE SUPPLY CENTER RETAIL AND ONLINE STORES, REMOTE WORK OPPORTUNITIES THROUGH WORKFORCE SERVICES AND COMMUNITY OUTREACH. WITH A FOCUS ON CREATING FULFILLING CAREER PATHS, IFB SOLUTIONS BUILDS LIFE-CHANGING OPPORTUNITIES FOR A CRITICALLY UNDEREMPLOYED POPULATION. FOR THOSE NEW TO THE WORKFORCE, IFB'S PACKAGING AND ASSEMBLY OPERATIONS OFFER OPPORTUNITIES OF INFORMED CHOICE AS CRITICAL ENTRY POINTS TO EMPLOYMENT WHILE ALSO CREATING A GROWING NUMBER OF COMPETITIVE AND INTEGRATED SKILL-BASED TECHNICAL POSITIONS SUPPORTED BY EXTENSIVE IN-PERSON TRAINING. ADDITIONALLY, IFB WORKFORCE SERVICES DIVISION OFFERS WORK-FROM-HOME OPPORTUNITIES FOR THOSE WHO CANNOT RELOCATE OR ACCESS TRANSPORTATION. IFB ALSO PROVIDES SUPPORT TO THOSE WHO ARE BLIND OR VISUALLY IMPAIRED ON A STATEWIDE LEVEL THROUGH ITS COMMUNITY LOW VISION CENTERS, COMMUNITY OUTREACH AND THROUGH PROGRAMMING FOR CHILDREN WHO ARE BLIND. DURING FISCAL YEAR 2025, THIS WORK RESULTED IN THE EMPLOYMENT OF 330 INDIVIDUALS WHO ARE BLIND OR VISUALLY IMPAIRED, GENERATING 445,503 HOURS WORKED BY PEOPLE WHO ARE BLIND.

    Expenses $14,455,239 · Grants $7,000 · Revenue $23,526,686

As filed on the 2024 return.

Listed in Part VII

  • Jose Rizo-Patron

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Michael Rhoades

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Michael Wiseman

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Tom Serrin

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • Ann Johnston

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Cathy Critz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dave Plyler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Elaine Vining

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Heather Robinson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • James Taylor Jr

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeffrey Owen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Googe

    DIRECTOR EMERITUS

    Total calculated
    $0
    Hours/week
    1

  • Karen Carey

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mitch Miller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Russ Stinehour

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniel Kelly

    PRESIDENT / CEO

    Total calculated
    $528,927
    From this org
    $464,322
    From related orgs
    $0
    Other
    $64,605
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $327,846
    Bonus
    $118,593
    Other
    $17,883
    Deferred
    $45,194
    Nontaxable benefits
    $19,411
    Filer's total
    $528,927

  • Jason Moser

    CHIEF FINANCIAL OFFICER

    Total calculated
    $257,617
    From this org
    $244,112
    From related orgs
    $0
    Other
    $13,505
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,215
    Bonus
    $40,410
    Other
    $487
    Deferred
    $2,039
    Nontaxable benefits
    $11,466
    Filer's total
    $257,617

  • Kenneth Edwards

    CHIEF SUPPLY CHAIN OFFICER

    Total calculated
    $325,662
    From this org
    $294,425
    From related orgs
    $0
    Other
    $31,237
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,188
    Bonus
    $71,029
    Other
    $3,208
    Deferred
    $31,237
    Nontaxable benefits
    $0
    Filer's total
    $325,662

  • Randy Buckner

    VP OF MANUFACTURING OPERATIONS

    Total calculated
    $232,280
    From this org
    $215,168
    From related orgs
    $0
    Other
    $17,112
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,980
    Bonus
    $46,775
    Other
    $2,413
    Deferred
    $1,796
    Nontaxable benefits
    $15,316
    Filer's total
    $232,280

  • Seth Anderson

    SR DIRECTOR OF MARKETING & DEVELOPMENT

    Total calculated
    $200,487
    From this org
    $187,287
    From related orgs
    $0
    Other
    $13,200
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,035
    Bonus
    $33,910
    Other
    $342
    Deferred
    $1,589
    Nontaxable benefits
    $11,611
    Filer's total
    $200,487

  • Vashuda Rangapathy

    VP OF IT & E-COMMERCE

    Total calculated
    $282,051
    From this org
    $243,660
    From related orgs
    $0
    Other
    $38,391
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $187,209
    Bonus
    $55,804
    Other
    $647
    Deferred
    $18,979
    Nontaxable benefits
    $19,412
    Filer's total
    $282,051

  • David Newsome

    DIRECTOR OF BSC OPERATIONS

    Total calculated
    $131,160
    From this org
    $129,880
    From related orgs
    $0
    Other
    $1,280
    Hours/week
    40

  • George Doughton III

    DIRECTOR OF MAJOR GIFTS

    Total calculated
    $163,547
    From this org
    $160,779
    From related orgs
    $0
    Other
    $2,768
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,962
    Bonus
    $14,817
    Other
    $0
    Deferred
    $1,439
    Nontaxable benefits
    $1,329
    Filer's total
    $163,547

  • Kenneth Mullins

    VP OF SUPPLY CHAIN

    Total calculated
    $134,287
    From this org
    $121,488
    From related orgs
    $0
    Other
    $12,799
    Hours/week
    40

  • Luyann Ledesma

    VP OF HUMAN RESOURCES

    Total calculated
    $155,951
    From this org
    $143,056
    From related orgs
    $0
    Other
    $12,895
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,659
    Bonus
    $13,308
    Other
    $89
    Deferred
    $1,224
    Nontaxable benefits
    $11,671
    Filer's total
    $155,951

  • Natalya McCandless

    DIRECTOR OF ACCOUNTING

    Total calculated
    $169,901
    From this org
    $168,086
    From related orgs
    $0
    Other
    $1,815
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,182
    Bonus
    $15,697
    Other
    $207
    Deferred
    $1,670
    Nontaxable benefits
    $145
    Filer's total
    $169,901

  • Daniel Carson

    FORMER DIRECTOR OF GOVERNMENT MARKETS

    Total calculated
    $144,146
    From this org
    $142,556
    From related orgs
    $0
    Other
    $1,590
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $98,177
    Bonus
    $44,379
    Other
    $0
    Deferred
    $1,590
    Nontaxable benefits
    $0
    Filer's total
    $144,146

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Tax indemnification and gross-up payments
  • 1a · Personal services (maid, chauffeur, chef)
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 6a · Pay contingent on this organization's net earnings

Answered no

  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

SCHEDULE J, PART I, LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS
IFB DOES, FROM TIME TO TIME, GROSS UP CERTAIN PAYMENTS MADE TO OFFICERS AND KEY EMPLOYEES.
SCHEDULE J, PART I, LINE 1A PERSONAL SERVICES
IFB PROVIDES A DRIVER FOR DANIEL KELLY, PRESIDENT / CEO, WHO IS BLIND.
SCHEDULE J, PART I, LINE 4A SEVERANCE OR CHANGE-OF-CONTROL PAYMENT
DANIEL CARSON, FORMER DIRECTOR OF GOVERNMENT MARKETS, RECEIVED A SEVERANCE PAYMENT OF $39,130.00.
SCHEDULE J, PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN
IFB SPONSORS A 457(F) DEFERRED COMPENSATION RETIREMENT PLAN IN WHICH THE FOLLOWING EMPLOYEES PARTICIPATE. AMOUNTS SHOWN REPRESENT PAYMENTS MADE FROM THE PLAN DURING 2024. THESE AMOUNTS ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(II), AS APPLICABLE. THE AMOUNTS CONTAIN COMPENSATION REPORTED AS DEFERRED ON PRIOR FORMS 990 AND INCLUDED IN SCHEDULE J, PART II, COLUMN (F). DANIEL KELLY ($118,485) / ($118,485) COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990 KENNETH EDWARDS ($70,758) / ($70,758) COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990 VASUDHA RANGAPATHY ($55,452) / ($55,452) COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990 JASON MOSER ($40,302) / ($40,302) COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990 RANDY BUCKNER ($46,667) / ($46,667) COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990 SETH ANDERSON ($33,802) / ($33,802) COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990
SCHEDULE J, PART I, LINE 6A COMPENSATION CONTINGENT ON NET EARNINGS OF THE ORGANIZATION
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 AND MISSION METRICS/PERFORMANCE TARGETS THAT EXCEED THOSE TARGETS ESTABLISHED BY THE ORGANIZATION'S BOARD OF DIRECTORS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
14 August 2026
IRS schema version
2024v5.1
Source object
202612269349302751

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