Winston-Salem Industries for the Blind Inc

Analysis

Winston-Salem Industries for the Blind Inc is a registered charity in United States, based in Winston Salem, NC. It received its IRS tax-exemption ruling in March 1968, 58 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, Winston-Salem Industries for the Blind Inc reported income of $16.7m and spending of $25.0m, spending 149% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $53.8m to $16.7m (-69%), an average of -25% a year. The sharpest change came in the year to September 2022, when income dropped by 69%. Over the whole period it spent 115% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Winston-Salem Industries for the Blind Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within NC. Charities of a similar size with the same main cause include Southwest Organizing Project ($16.7m), Waccamaw Economic Opportunity Council Inc ($16.8m) and Pride Inc ($16.6m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 6.1% of the total. Compensation of current officers, directors and key employees was $2.5m (9.9% of expenses). Other salaries and wages came to $5.6m. At year end it held assets of $54.6m against liabilities of $33.8m, net assets of $20.8m. It reported 889 employees.