L C Industries Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1958

Legal Domicile

Phone

9195968277

Tax Period

2024-07-01 to 2025-06-30

L C Industries Inc, founded in 1958, is a major nonprofit in the Human Services sector that reported $408.1M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $382.9M left a modest 6% surplus.

Mission

THE ORGANIZATION'S MISSION IS TO PROVIDE MEANINGFUL EMPLOYMENT FOR those who are blind and visually impaired.

Program Service Accomplishments

Program 1

Expenses: $363,181,294 Revenue: $399,200,540

THE ORGANIZATION EMPLOYED VISUALLY IMPAIRED INDIVIDIUALS WHO MANUFACTURED MATTRESSES, MATTRESS COVERS, FILE FOLDERS, WALLET ENVELOPES, MOPS, WATER CANS, PAPER PRODUCTS AND OTHER PLASTICS. THE...

THE ORGANIZATION EMPLOYED VISUALLY IMPAIRED INDIVIDIUALS WHO MANUFACTURED MATTRESSES, MATTRESS COVERS, FILE FOLDERS, WALLET ENVELOPES, MOPS, WATER CANS, PAPER PRODUCTS AND OTHER PLASTICS. THE ORGANIZATION ALSO OPERATED RETAIL STORES THAT SELL BLIND-MADE PRODUCTS. THE ORGANIZATION'S DIRECT BLIND WORKFORCE AT 6/30/25 CONSISTED OF 207 INDIVIDUALS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $112,248

Program Service Revenue $394,370,936

Investment Income $8,705,909

Other Revenue $4,867,895

TOTAL REVENUE $408,056,988

Expense Breakdown

Grants Paid $2,810,320

Salaries & Benefits $50,944,340

Fundraising Expenses $0

Program Expenses $363,181,294

Other Expenses $329,112,610

TOTAL EXPENSES $382,867,270

Year-over-Year Comparison

	2024	2023	Change
Revenue	$408,056,988	$359,199,757	+0.1%
Expenses	$382,867,270	$342,681,093	+0.1%
Net Income	$25,189,718	$16,518,664	+0.5%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

933

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✓ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,391,489

Total Directors

$485,556

Key Employees

$521,094

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Richard Hutson	Chair	5.0	Officer Director	$0	$0	$0
William Hudson	Treasurer/Secretary	40.0	Officer Director	$485,556	$0	$485,556
Ben Thompson	Board Member	5.0	Director	$0	$0	$0
Gene Lewis	Board Member	5.0	Director	$0	$0	$0
Jim Holmes	Board Member	5.0	Director	$0	$0	$0
Joe Lee III	Board Member	5.0	Director	$0	$0	$0
Justin Wright	Board Member	5.0	Director	$0	$0	$0
Thom White	Board Member	5.0	Director	$0	$0	$0
DuWayne T Gilbertson	Chief Revenue Officer	40.0	Officer	$312,011	$38,680	$350,691
Marisa O Chrismon	Chief Human Resources Officer	40.0	Officer	$333,859	$32,529	$366,388
Patrick K Lindsey	President/ CEO	40.0	Officer	$1,167,567	$21,287	$1,188,854
Paige H Goss	Vice President of Finance	40.0	Key Emp	$214,940	$22,000	$236,940
Scott M Schrantz	Senior Vice President of Operations	40.0	Key Emp	$255,217	$28,937	$284,154
Andro P Czuczuk	Director, Purchasing	40.0	Highest	$193,267	$33,977	$227,244
Grace Baier-Green	Director, Sales	40.0	Highest	$183,590	$15,881	$199,471
John G Samuel	Director of ABLR	40.0	Highest	$175,121	$5,414	$180,535
Michael Iannelli	Director, Sales & Marketing	40.0	Highest	$175,121	$20,606	$195,727
Michael W Grafton	Manager Product Development	40.0	Highest	$161,188	$6,103	$167,291

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$408,056,988	$382,867,270	$267,889,557	$25,189,718
2024	$359,199,757	$342,681,093	$237,338,924	$16,518,664
2023	$295,716,440	$288,811,370	$216,486,748	$6,905,070
2022	$48,935,731	$61,584,931	$199,406,608	$-12,649,200
2021	$66,526,381	$64,278,258	$208,188,082	$2,248,123
2020	$68,096,867	$64,027,940	$208,660,341	$4,068,927
2019	$70,414,612	$65,488,663	$203,902,041	$4,925,949
2018	$67,625,356	$57,781,246	$199,894,262	$9,844,110