Industries of the Blind Inc

Analysis

Industries of the Blind Inc is a registered charity in United States, based in Greensboro, NC. It received its IRS tax-exemption ruling in September 1956, 70 years ago. Its declared purposes cover employment, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Industries of the Blind Inc reported income of $5.3m and spending of $3.8m, leaving 29% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $2.6m to $5.3m (+107%), an average of +20% a year. The sharpest change came in the year to September 2023, when income rose by 235%. Over the whole period it spent 80% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Industries of the Blind Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within NC. Charities of a similar size with the same main cause include Retreat Farm ($5.3m), Common Future ($5.3m) and Rural Coalition ($5.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 61% of the total. Compensation of current officers, directors and key employees was $346k (9.2% of expenses). Other salaries and wages came to $795k. At year end it held assets of $17.3m against liabilities of $4.3m, net assets of $13.0m. It reported 299 employees.