Winston-Salem Industries For The Blind Inc

Organization Overview

Winston-Salem Industries For The Blind Inc, operating under the name Ifb Solutions, is located in Winstonsalem, NC. The organization was established in 1968. According to its NTEE Classification (J33) the organization is classified as: Sheltered Employment, under the broad grouping of Employment and related organizations. As of 09/2021, Ifb Solutions employed 957 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ifb Solutions 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 09/2021, Ifb Solutions generated $36.3m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.2%) each year. All expenses for the organization totaled $35.1m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO TRAIN, EMPLOY AND SERVE VISUALLY-IMPAIRED INDIVIDUALS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

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 468 INDIVIDUALS WHO ARE BLIND AND THE GENERATION OF 642,362 BLIND DIRECT LABOR HOURS AND 108,401 BLIND INDIRECT LABOR HOURS.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Samtech Llc
Purchase Of Materials
$11,121,289
84 Lumber Company
Purchase Of Materials
$1,083,419
Beth Partners Llc
Purchase Of Resell Items (Bsc)
$1,778,784
Schuyler Line Navigation Company Llc
Freight Services
$353,575
Michael Smith
Cafe / Meal Services
$311,377
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$135,322
Related organizations$0
Government grants $7,090,432
All other contributions, gifts, grants, and similar amounts not included above$996,150
Noncash contributions included in lines 1a–1f $8,775
Total Revenue from Contributions, Gifts, Grants & Similar$8,221,904
Total Program Service Revenue$0
Investment income $11,486
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$24,244
Net Income from Fundraising Events -$40,289
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $28,089,311
Miscellaneous Revenue$0
Total Revenue $36,296,744

Grants Awarded

Over the last fiscal year, Winston-Salem Industries For The Blind Inc has awarded $10,017,514 in support to 2 organizations.

Grant RecipientAmount

IFB SOLUTIONS FOUNDATION INC

Org PageRecipient Profile

Winstonsalem, NC

PURPOSE: TRANSFER OF RESERVE FUND INVESTMENTS TO SUPPORTING ORGANIZATION

$9,998,514

THE BLIND POWER COMPANY INC

Org PageRecipient Profile

Pfafftown, NC

PURPOSE: SUPPORT OF AN ENTITY THAT PROVIDES SERVICES TO THE BLIND

$19,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 8 grants that Winston-Salem Industries For The Blind Inc has recieved totaling $177,910.

Awarding OrganizationAmount
Winston-Salem Foundation

Winstonsalem, NC

PURPOSE: 21 GRANT(S) FOR VARYING PURPOSES

$69,400
National Industries For The Blind

Alexandria, VA

PURPOSE: PRODUCTIVITY, TRAINING AND COMPENSATION

$49,132
The Community Foundation Of Western North Carolina Inc

Asheville, NC

PURPOSE: ASSISTING PEOPLE IN NEED

$21,290
The Beck Trust

New Orleans, LA

PURPOSE: GENERAL SUPPORT

$19,578
Foundation For The Carolinas

Charlotte, NC

PURPOSE: CHARITABLE GIFT

$10,100
Schwab Charitable Fund

San Francisco, CA

PURPOSE: HUMAN SERVICES

$5,200
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$383,966
Earnings$83,819
Admin Expense$4,178
Ending Balance$463,607

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