Industries of the Blind Inc
Nonprofit profile at a glance
- EIN
- 560532308
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024
- Location
- Greensboro, NC, USA
- Phone
- 3365443704
- Rating
- 89
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Vocational Rehabilitation
Reported finances
- Revenue
- $3,280,716
- Expenses
- $4,646,705
- Assets
- $26,500,746
- Liabilities
- $14,196,116
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- JOSHUA GOULD (President & CEO)
Highest reported compensation
- JOSHUA GOULD (President & CEO): $360,921 total reported compensation
- VICTOR MARTIN (Dir of Fin & IT): $181,212 total reported compensation
- SUSAN WILLIAMS (DIRECTOR OF HUMAN RESOURCES): $162,574 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide opportunities for employment and personal development for people who are blind or visually impaired to achieve greater independence.
What it reported doing in 2024
To provide opportunities for employment and personal development for people who are blind or visually impaired to achieve greaterindependence. Industries of the blind, inc. Operates a manufacturing, assembly, and distribution service business that employs blind andsighted people in order to provide them these opportunities for employment and personal development. The manufacturing consists of textile cutting and sewing for production of military uniforms, clothing, and commercial goods. The blind and sighted employees of industries of the blind, inc. Also manufacture and assemble a variety of office supply and sanitation products including writing instruments, clipboards, mops, brooms, and a variety of other items. The process teaches sewing skills, working with fabrics, and mechanized procedures to the blind and sighted employees. As of september 30, 2025, industries of the blind employs 136 blind and 111 sighted people. Revenue shown above is net of cost of goods sold expenses on the form 990, part viii, line 10b.
Operating model
- Revenue model
- Grant-funded. 78% of the money available for current operations came from government grants.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.
Rating breakdown
- Financial Efficiency: 90
- Transparency & Controls: 89
- Accountability: 100
- Sustainability: 30
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 83.3%; rating input score 83
- Fundraising efficiency: $22.5 raised per $1 spent on fundraising; rating input score 62; 62nd percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Pass
- Other Form 990s reviewed: Pass
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -41.6%; rating input score 3; 3rd percentile among comparable filings
- Total-asset coverage ratio: 5.7; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0.54; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 18.2%; rating input score 14; 14th percentile among comparable filings
Growth
- Program expense growth: 21.8% per year; rating input score 100; 87th percentile among comparable filings
- Revenue growth: 1.5% per year; rating input score 100; 18th percentile among comparable filings
- Asset growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 83.3% of spending went to programs
- Governance: 15 of 15 board members independent · 9 of 9 filing controls reported
- Programs: 1 filed program accomplishment · $3.9M in reported program spending
- Leadership: top reported pay $361K · 19 people listed · 5 of 6 pay-setting controls reported
- Highest-paid contractors: 3 contractors listed · $2.5M reported
- Consistency: 28 of 28 current checks pass
- Schedules: 5 filed schedules · includes major donors and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 4 filed money-flow records
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 3/100.
- High — Sustainability: Officer compensation ratio scored 14/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.