Industrial Opportunities
- Assets
- $6.3m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 178
- Location
- Andrews, NC
- Founding
- 02/1977
- Data as of
- 06/2022
- EIN
- 56-1065000
Organization Overview
Industrial Opportunities is located in Andrews, NC. The organization was established in 1977. According to its NTEE Classification (P80) the organization is classified as: Centers to Support the Independence of Specific Populations, under the broad grouping of Human Services and related organizations. As of 06/2022, Industrial Opportunities employed 178 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Industrial Opportunities is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Industrial Opportunities generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $3.0m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SERVING ADULTS WITH DISABILITIES BY PROVIDING OPPORTUNITIES FOR ECONOMIC AND PERSONAL DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRAINING AND SHELTERED EMPLOYMENT FOR ADULTS WITH DISABILITIES. JOB PLACEMENT IS OFFERED FOR THOSE SERVED BY INDUSTRIAL OPPORTUNITIES, INC. OPPORTUNITES ARE PROVIDED FOR ECONOMIC AND PERSONAL DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy Wiggins Vice Chairman | Officer | 1 | $0 |
Roger Holloway CFO COO Treasurer | Officer | 40 | $0 |
Matt Rogers Chairman | Officer | 1 | $0 |
Thomas Obrien CEO | Officer | 40 | $0 |
Greg Nazerian Director | Trustee | 1 | $0 |
Howard Brown Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $83,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,449 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $130,449 |
| Total Program Service Revenue | $989,578 |
| Investment income | $11,806 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,122,019 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,932,976 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,468,223 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $489,591 |
| Payroll taxes | $110,727 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $55,110 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $162,499 |
| Advertising and promotion | $5,191 |
| Office expenses | $1,737 |
| Information technology | $0 |
| Royalties | $4,219 |
| Occupancy | $111,152 |
| Travel | $52,837 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,459 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $211,797 |
| Insurance | $98,221 |
| All other expenses | $0 |
| Total functional expenses | $2,982,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $358,893 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,705,287 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $848,010 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,790,520 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $619,884 |
| Total assets | $6,322,594 |
| Accounts payable and accrued expenses | $493,570 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,097,932 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,591,502 |
| Net assets without donor restrictions | $4,731,092 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,322,594 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Industrial Opportunities has recieved totaling $20,300.
| Awarding Organization | Amount |
|---|---|
Dogwood Health Trust Asheville, NC PURPOSE: OPERATIONAL GRANT | $20,300 |
Endowment Analysis
| Beg. Balance | $309,334 |
| Earnings | -$70,795 |
| Admin Expense | $4,655 |
| Net Contributions | $386,000 |
| Ending Balance | $619,884 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boulder Crest Foundation Bluemont, VA | $39,968,822 | $23,145,930 |
Central Fairfax Services Inc Springfield, VA | $6,565,063 | $13,281,706 |
Area Congregations Together In Service Richmond, VA | $1,536,280 | $15,128,315 |
Cedars Of Chapel Hill Club Inc Chapel Hill, NC | $6,435,897 | $14,257,296 |
Meritan Inc Memphis, TN | $4,688,088 | $16,356,031 |
Sober Living America Inc Woodstock, GA | $3,253,129 | $12,866,607 |
Hilltoppers Inc Crossville, TN | $11,714,552 | $11,864,400 |
Lakeway Center Of The Handicapped Inc Morristown, TN | $5,691,574 | $10,737,798 |
Project Community Connections Inc Snellville, GA | $7,907,860 | $10,954,285 |
Prs Inc Oakton, VA | $7,358,160 | $12,734,897 |
Tlc Operations Inc Raleigh, NC | $1,673,295 | $10,446,064 |
Catholic Charities Of The Diocese Of Memphis Inc Memphis, TN | $2,024,003 | $6,994,059 |