Lee County Industries Inc
Nonprofit profile at a glance
- EIN
- 560898262
- IRS 990 coverage
- 2011–2024
- Forms available
- Form 990 2024
- Location
- Sanford, NC, USA
- Phone
- 9197753439
- Rating
- 70
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Vocational Rehabilitation
Reported finances
- Revenue
- $1,330,606
- Expenses
- $1,203,336
- Assets
- $1,722,713
- Liabilities
- $77,667
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- ASHTON NOEL (PRESIDENT)
- JOANNE KEINATH (VICE PRESIDENT)
- AUDREY M MURCHISON (EXECUTIVE DIRECTOR)
Highest reported compensation
- AUDREY M MURCHISON (EXECUTIVE DIRECTOR): $68,834 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Lci provides rehabilitation and educational training to youth and adults with barriers to employment. The wide variety of training opportunities available attracts a broad range of individuals, including people with disabilities, those adapting from accidental injuries and others from low-income families.lci operates through income from industrial contracts and award sales, charitable grants and, most importantly, tax-deductible gifts from friends. It also draws upon volunteers to work with participants and publishes occasional information for anyone wanting to stay informed about the organization and its new ventures.though lci has expanded its services and moved over the years -- the current building opened in 1981 -- it has remained faithful to its mission: to help people with disabilities achieve their greatest possible independence and use its resources to enhance the entire community.
What it reported doing in 2024
Lci provides manufacturing support services to local and surrounding companies in the form of kitting, assembly/subassembly, packaging, labeling, sorting, rework, inspection, etc. Income is generated from manufacturing contracts. Subcontract manufacturing services provide job training skills for individuals attending the program.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- 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
SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.
Rating breakdown
- Financial Efficiency: 51
- Transparency & Controls: 90
- Accountability: 79
- Sustainability: 56
- Growth: 80
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 54.8%; rating input score 55
- Program expense ratio: 60.6%; rating input score 61
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 8 controls in place; rating input score 50
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Fail
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 9.6%; rating input score 60; 60th percentile among comparable filings
- Total-asset coverage ratio: 1.43; rating input score 54; 54th percentile among comparable filings
- Liabilities to assets ratio: 0.05; rating input score 53; 53rd percentile among comparable filings
- Officer compensation ratio: 5.7%; rating input score 51; 51st percentile among comparable filings
Growth
- Program expense growth: 1% per year; rating input score 100; 22nd percentile among comparable filings
- Revenue growth: 0.6% per year; rating input score 100; 17th percentile among comparable filings
- Asset growth: -0.1% per year; rating input score 0; 17th percentile among comparable filings
Details
- Where the money goes: 54.8% of revenue deployed · 60.6% of spending went to programs
- Governance: 3 of 3 board members independent · 4 of 8 filing controls reported
- Programs: 4 filed program accomplishments · $729K in reported program spending
- Leadership: top reported pay $69K · 4 people listed
- Consistency: 26 of 26 current checks pass
- Schedules: 3 filed schedules
- Filing history: 14 filing years from 2011 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- 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.
- Review — Financial Efficiency: Mission deployment rate scored 55/100.
- Review — Accountability: Governance controls: 4 of 8 not reported.
- High — Growth: Asset growth scored 0/100.
- Review — Sustainability: Total-asset coverage ratio scored 54/100.
- Review — Sustainability: Officer compensation ratio scored 51/100.
- Review — Sustainability: Liabilities to assets ratio scored 53/100.