2012-08-14T07:51:47-05:00 2011-09-30 DIXON HUGHES GOODMAN LLP ONE WEST FOURTH STREET SUITE 700 WINSTONSALEM NC 27101 990 2010-10-01 566001467 WINSTON-SALEM INDUSTRIES FOR THE BLIND INC WINS 3367590551 7730 NORTH POINT DRIVE WINSTONSALEM NC 27106 DAVID HORTON 3367590551 2012-08-09 1 DAVID VOGLER 3367148100 2010 2016-02-24 21:20:13Z DAVID HORTON 7730 NORTH POINT DRIVE WINSTONSALEM NC 27106 135547747 0 X WWW.WSIFB.COM X 1936 NC TO TRAIN AND EMPLOY BLIND AND VISUALLY-IMPAIRED INDIVIDUALS. 22 19 646 53 571538 549500 590447 1055929 0 0 -24834 47505 31308013 36253876 31873626 37357310 20417 29928 0 0 17896943 19221327 0 12500 255832 9781657 10986206 27699017 30249961 4174609 7107349 41217493 47648453 18893665 18162635 22323828 29485818 TO PROVIDE OPPORTUNITIES FOR PERSONS WHO ARE BLIND OR VISUALLY-IMPAIRED AND ARE IN NEED OF TRAINING, EMPLOYMENT AND SERVICES. 0 0 25042869 29928 35634941 OPERATION OF A QUALIFIED ABILITYONE AGENCY THAT PROVIDES TRAINING AND EMPLOYMENT FOR THE BLIND AND VISUALLY-IMPAIRED. THROUGH THESE EFFORTS, WE SELL MERCHANDISE THAT IS PRODUCED BY OUR EMPLOYEES, MOST OF WHOM ARE BLIND OR VISUALLY-IMPAIRED. WE ALSO OPERATE STORES THAT SELL PRODUCTS MADE BY THE BLIND AND VISUALLY-IMPAIRED ALONG WITH OTHER MERCHANDISE. THE RESULTS OF THESE EFFORTS ARE THE EMPLOYMENT OF 424 INDIVIDUALS WHO ARE BLIND AND THE GENERATION OF APPROXIMATELY 622,000 BLIND DIRECT LABOR HOURS. 25042869 1 1 0 1 0 0 0 0 1 1 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 49 0 1 646 1 1 1 0 0 0 0 0 0 0 0 1 0 X 22 19 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X SAM D GEORGE JR CFO 3362455615 7730 NORTH POINT DRIVE WINSTONSALEM NC 27106 KAREN CAREY 1.00 X 0 0 0 JAMIE DEAN 1.00 X 0 0 0 JUDY BULLARD 1.00 X 0 0 0 JOHN GOOGE 1.00 X 0 0 0 DAVID GOOGE 1.00 X 0 0 0 PATRICK GRANTHAM 1.00 X 0 0 0 HARVEY MCINTYRE 1.00 X 0 0 0 SHIRLEY SHOUSE 1.00 X 0 0 0 MARK TONNESEN 1.00 X 0 0 0 SUSAN HAUSER 1.00 X 0 0 0 W LOUIS BISSETTE JR 1.00 X 0 0 0 DR KERRY COLLINS 1.00 X 0 0 0 ALAN DALLA PALU 1.00 X 0 0 0 CAROLYN MYERS 1.00 X 0 0 0 RICHARD SIEG 1.00 X 0 0 0 MIKE FAIRCLOTH 1.00 X 0 0 0 KATHRYN GARNER 1.00 X 0 0 0 DAVID PLYLER 1.00 X 0 0 0 JOHN BRAIS 1.00 X 0 0 0 JEFF CLARK 1.00 X 0 0 0 BOB NEWELL 1.00 X 0 0 0 TODD LYNCH 1.00 X 0 0 0 DANIEL BOUCHER 40.00 X 379532 0 163673 DAVID HORTON 40.00 X 331888 0 153098 JESUS A MANGUAL 40.00 X 258273 0 120316 JEANNE WILKINSON 40.00 X 165652 0 71056 SAM D GEORGE JR 40.00 X 190933 0 108778 PAMELA MILLER 40.00 X 128750 0 77470 DANIEL KELLY 40.00 X 166850 0 89684 DAVID HAMPTON 40.00 X 122532 0 40818 JERRY O'HAGAN 40.00 X 200157 0 90775 RANDY BUCKNER 40.00 X 133939 0 65956 SILAS MARTIN 40.00 X 110462 0 41942 DAVID BARNWELL 40.00 X 109206 0 37244 GARY MENDELSOHN 40.00 X 104298 0 50407 KATHLEEN BURKE 40.00 X 109703 0 30111 2512175 0 1141328 14 0 1 0 WINSTON PERSONNEL GROUP 253 EXECUTIVE PARK BLVD WINSTONSALEM NC 27113 TEMPORARY EMPLOYEES 1353981 KELLY SERVICES INC PO BOX 530437 ATLANTA GA 303530437 TEMPORARY EMPLOYEES 979500 GOODWILL INDUSTRIES OF NWNC PO BOX 4299 WINSTONSALEM NC 271154299 TEMPORARY EMPLOYEES 754209 THE OPPORTUNITIES GROUP INC 415 CLAREMONT AVE UNIT 4-C MONTCLAIR NJ 07042 SALES CONSULTING 436239 WILKES VOCATIONAL SERVICES 501 ELKIN HIGHWAY NORTH WILKESBORO NC 286593457 TEMPORARY EMPLOYEES 331146 16 2000 216147 837782 18947 1055929 19206 19206 33915 5616 28299 28299 28299 133913149 98184821 35728328 35728328 PASS-THRU INCOME(LOSS) 900099 478151 -93387 571538 MISCELLANEOUS INCOME 900099 47397 47397 525548 37357310 35634941 571538 94902 21038 21038 8890 8890 1099744 549872 549872 6721483 5468969 1080787 171727 9680014 9037389 579895 62730 1720086 1626938 84273 8875 64343 64343 83246 83246 6038 6038 12500 12500 1663304 1663304 310340 150964 159376 872379 750577 121802 106579 93811 12768 821432 657142 164290 41741 41741 4462912 4462912 1208497 1031208 177289 57856 52166 5690 BAD DEBTS 288716 288716 EMPLOYEE ACTIVITIES 229315 229315 UNRELATED BUSINESS TAX 176218 176218 TRUCK EXPENSES 157131 148244 8887 CLEANING & MAINTENANCE 132082 118900 13182 304077 304077 30249961 25042869 4951260 255832 5301684 9002137 502191 1615990 259168 565187 10093192 9025590 226334 246287 200000 0 10841643 12653638 217503 1112782 21386914 9146842 12678007 12240072 897771 1186770 41217493 47648453 17366286 16736265 1527379 1426370 18893665 18162635 X 21896057 28621434 241517 668214 186254 196170 22323828 29485818 41217493 47648453 X 7107349 54641 X 0 1 1 X 0 X 647329 829152 234160 590447 1055929 3357017 78839410 80729748 100769704 115088903 133913149 509340914 79486739 81558900 101003864 115679350 134969078 512697931 94711 153475 575 34750 168041 451552 0 94711 153475 575 34750 168041 451552 512246379 32264 9802 9984 11939 19206 83195 159656 362670 522326 32264 9802 9984 171595 381876 605521 85754 -43586 233809 340202 -45990 570189 79604757 81525116 101247657 116191147 135304964 513873641 0.99680 0.99680 0.00120 0.00080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 915 1 4757 1 366 6038 0 PART IV, SUPPLEMENTAL INFORMATION: PART II-B, LINE 1(H), RALLIES, DEMONSTRATIONS, SEMINARS, CONVENTIONS, SPEECHES, LECTURES, OR ANY SIMILAR MEANS: IN MARCH 2011 OFFICERS AND STAFF MEMBERS OF WINSTON-SALEM INDUSTRIES FOR THE BLIND, INC. (IFB) ATTENDED THE NATIONAL INDUSTRIES FOR THE BLIND PUBLIC POLICY FORUM. THE ATTENDEES MET WITH SENATORS AND OTHER LEGISLATORS TO DISCUSS LAWS RELATING TO THE BLIND AND VISUALLY-IMPAIRED POPULATIONS. PART II-B, LINE 1(I), OTHER ACTIVITIES: IFB ENGAGED A CONSULTANT TO DRAFT A MEMO TO THE HOUSE OF REPRESENTATIVES OF THE COMMONWEALTH OF PUERTO RICO REGARDING A PUBLIC LAW AFFECTING THE BLIND AND VISUALLY IMPAIRED. 203706 9916 10885 1657 222850 177462 12446 15169 1371 203706 151643 23170 3679 1030 177462 1.00000 1 0 1711454 1711454 8110154 3716154 4394000 2052183 189937 1862246 7771160 4369971 3401189 1741963 870780 871183 12240072 37357310 30249961 7107349 6108 48533 54641 7161990 37362673 6108 233736 -197256 42588 37320085 37225 37225 37357310 30200683 185203 185203 30015480 234481 234481 30249961 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE ENDOWMENT WAS ESTABLISHED TO PROVIDE A PERMANENT FUND WHICH MAY BE USED TO SUPPORT THE ONGOING NEEDS OF IFB. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: IFB IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, IFB QUALIFIES FOR CHARITABLE CONTRIBUTION DEDUCTIONS UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(1). ALTHOUGH MANAGEMENT HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT TO MAINTAIN ITS TAX-EXEMPT STATUS, THE FINANCIAL STATEMENTS REFLECT A PROVISION AND LIABILITY FOR FEDERAL AND STATE INCOME TAXES RESULTING FROM UNRELATED BUSINESS INCOME GENERATED BY PROFITABLE OPERATIONS OF A COMPANY IN WHICH IFB HOLDS A 49% MEMBER INTEREST. EXCEPT FOR THE DISCLOSURE HEREIN, MANAGEMENT HAS DETERMINED THAT THERE ARE NO OTHER MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2011. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS UNRELATED BUSINESS INCOME TAX TO EXPENSE -176,218. RECLASS GRANTS PAID TO EXPENSE -21,038. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS GAIN ON DISPOSAL OF FIXED ASSETS TO REVENUE 28,299. RECLASS GOVERNMENT GRANTS TO REVENUE 8,926. PART XIII, LINE 4B - OTHER ADJUSTMENTS: RECLASS UNRELATED BUSINESS INCOME TAX TO EXPENSE 176,218. RECLASS GRANTS PAID TO EXPENSE 21,038. RECLASS GAIN ON DISPOSAL OF FIXED ASSETS TO REVENUE 28,299. RECLASS GOVERNMENT GRANTS TO REVENUE 8,926. 1 FOUNDATION FOR FIGHTING BLINDNESS 7168 COLUMBIA GATEWAY DR STE 100 COLUMBIA MD 21046 237135845 501(C)(3) 10000 TO HELP FUND RESEARCH FOR TREATMENTS, PREVENTION AND CURES OF BLINDNESS. 1 0 SCHOLARSHIPS FOR HIGHER EDUCATION 2 3000 TUITION REIMBURSEMENT 4 5890 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: IFB OFFERS TWO SCHOLARSHIPS, ONE OF WHICH IS AVAILABLE ONLY TO ELIGIBLE SIGHTED, BLIND AND VISUALLY-IMPAIRED EMPLOYEES WHO ARE FULL-TIME AND HAVE ONE YEAR OF SERVICE AND THE OTHER SCHOLARSHIP IS AVAILABLE ONLY TO ELIGIBLE BLIND AND VISUALLY-IMPAIRED EMPLOYEES AND THEIR DEPENDENTS. TO BE ELIGIBLE FOR THESE SCHOLARSHIPS A CANDIDATE MUST BE ACCEPTED TO, OR CURRENTLY ATTENDING, A POST-SECONDARY EDUCATIONAL INSTITUTION. EACH CANDIDATE MUST SUBMIT A SCHOLARSHIP APPLICATION, EVIDENCE OF ACCEPTANCE OR ATTENDANCE, AND THE BILL FOR TUITION FROM THEIR RESPECTIVE SCHOOLS. SCHOLARSHIP RECIPIENTS ARE CHOSEN FROM THE POOL OF CANDIDATES BY A COMMITTEE CONSISTING OF HUMAN RESOURCES AND EXECUTIVE MANAGEMENT. THE AMOUNTS OF INDIVIDUAL SCHOLARSHIP AWARDS ARE DETERMINED BASED ON THE INDIVIDUAL'S COST OF TUITION AND THE NUMBER OF CANDIDATES APPLYING FOR EACH SCHOLARSHIP. ALSO PROVIDED IS TUITION REIMBURSEMENT FOR SIGHTED, BLIND AND VISUALLY-IMPAIRED EMPLOYEES. EMPLOYEES WISHING TO RECEIVE REIMBURSEMENT MUST COMPLETE A REQUEST FORM DETAILING THE COURSES THEY WISH TO TAKE AND HOW THOSE COURSES CONTRIBUTE TO THEIR CURRENT POSTION WITHIN THE COMPANY. THESE FORMS ARE REVIEWED AND APPROVED BY THE IMMEDIATE SUPERVISOR AND THE EMPLOYEE RELATIONS MANAGER. UPON COMPLETION OF THE COURSE(S), THE EMPLOYEE SUBMITS A GRADE REPORT, AND AS LONG AS A GRADE OF C OR BETTER IS RECEIVED THE EMPLOYEE IS REIMBURSED FOR THE COST OF TUITION. X X 1 1 X X X X X 0 0 0 0 0 1 0 0 0 DANIEL BOUCHER 231328 0 124195 0 24009 0 149000 0 14673 0 543205 0 120000 0 DAVID HORTON 212676 0 113846 0 5366 0 138500 0 14598 0 484986 0 110000 0 JESUS A MANGUAL 192083 0 53321 0 12869 0 119500 0 816 0 378589 0 50000 0 JEANNE WILKINSON 122946 0 42185 0 521 0 66625 0 4431 0 236708 0 40000 0 SAM D GEORGE JR 143411 0 44622 0 2900 0 94461 0 14317 0 299711 0 42000 0 PAMELA MILLER 91605 0 36805 0 340 0 63340 0 14130 0 206220 0 35000 0 DANIEL KELLY 105013 0 52011 0 9826 0 75038 0 14646 0 256534 0 45000 0 DAVID HAMPTON 107287 0 6341 0 8904 0 30000 0 10818 0 163350 0 0 0 JERRY O'HAGAN 132550 0 65274 0 2333 0 83564 0 7211 0 290932 0 57500 0 RANDY BUCKNER 97792 0 35909 0 238 0 51805 0 14151 0 199895 0 33000 0 SILAS MARTIN 93696 0 16724 0 42 0 35000 0 6942 0 152404 0 15000 0 GARY MENDELSOHN 80381 0 23650 0 267 0 36337 0 14070 0 154705 0 22000 0 PART I, LINE 1A ON TWO OCCASIONS DURING THE YEAR, GROUPS OF OFFICERS AND DIRECTORS TRAVELED BY CHARTERED AIRCRAFT TO TWO BASE STORE LOCATIONS TO PARTICIPATE IN MARKETING ACTIVITIES THAT WERE ORDINARY AND NECESSARY IN THE GENERAL COURSE OF IFB BUSINESS. THE DECISION TO TRAVEL VIA CHARTERED AIRCRAFT, AS OPPOSED TO COMMERCIAL AIRCRAFT, WAS MADE BASED ON THE FACT THAT NO REASONABLE COMMERCIAL FLIGHTS WERE AVAILABLE AT TIMES CONSISTENT WITH MEETING THE PLANNED SCHEDULING OF THE BUSINESS-RELATED ACTIVITIES. IN THE FIRST INSTANCE, THE COSTS OF THE FLIGHTS WERE DONATED TO IFB BY THE AIRCRAFT LEASING COMPANY. IN THE SECOND INSTANCE, IFB PAID THE AIRCRAFT LEASING COMPANY FOR THE FLIGHTS AT COACH CLASS COMMERCIAL AIRLINE RATES THAT WERE APPLICABLE AS OF THE DATE OF TRAVEL. IN NEITHER INSTANCE DID IFB PAY EXCESSIVE OR OVERVALUED RATES FOR THE BUSINESS-RELATED CHARTERED AIR TRAVEL, NOR DID ANY OFFICER OR DIRECTOR PARTICIPATE IN THIS TRAVEL FOR ANY PURPOSE OTHER THAN FOR BUSINESS PURPOSES. PART I, LINE 1A: AN OFFICER OF IFB MAINTAINS A MEMBERSHIP IN A LOCAL SOCIAL CLUB THAT PROVIDES MEETING AND DINING FACILITIES IN A PROFESSIONAL BUSINESS SETTING. THE OFFICER MAINTAINS THIS MEMBERSHIP PREDOMINATELY FOR THE PURPOSE OF ALLOWING ACCESS TO THE CLUB FACILITIES TO IFB TO CONDUCT BUSINESS AND PLANNING MEETINGS AT THE CLUB FACILITIES ATTENDED BY IFB EMPLOYEES, DIRECTORS, CUSTOMERS AND VENDORS. THIS ARRANGEMENT IS NECESSARY BECAUSE THE CLUB ONLY ACCEPTS INDIVIDUAL MEMBERS, AND NOT CORPORATE OR BUSINESS MEMBERS, AND THE CLUB IS THE ONLY ONE OF ITS KIND IN THE REASONABLY IMMEDIATE AREA. IFB PAYS THE MONTHLY CLUB DUES ON BEHALF OF THE OFFICER DIRECTLY TO THE CLUB AND IS SUBSEQUENTLY REIMBURSED BY THE OFFICER FOR ANY PORTION OF THE MONTHLY DUES OR CHARGES RELATED TO NON-BUSINESS USE. PART I, LINE 6 IFB MAINTAINS THE GAINSHARE INCENTIVE PROGRAM FOR THE BENEFIT OF ALL EMPLOYEES INCLUDING OFFICERS, KEY EMPLOYEES AND OTHER HIGHLY COMPENSATED EMPLOYEES. THIS INCENTIVE PROGRAM IS BASED ON THE ATTAINMENT OF OPERATIONAL RESULTS THAT EXCEED INCOME-RELATED TARGETS ESTABLISHED BY THE ORGANIZATION'S BOARD OF DIRECTORS. DANIEL BOUCHER X 246287 246287 0 1 1 246287 SHIRLEY SHOUSE DIRECTOR 1293378 SEE PART V. 0 DR KERRY COLLINS DIRECTOR 320653 SEE PART V. 0 SCHEDULE L, PART II, LOANS TO AND/OR FROM INTERESTED PERSONS: (A) NAME OF INTERESTED PERSON: DANIEL BOUCHER(A) PURPOSE OF LOAN: LIFE INSURANCE PREMIUMS.THE RELATED PARTY RECEIVABLE BETWEEN IFB AND DANIEL BOUCHER, AN OFFICER OF THE ORGANIZATION, IS RELATED TO A SPLIT-DOLLAR LIFE INSURANCE AGREEMENT WHEREBY DANIEL BOUCHER OWNS THE LIFE INSURANCE POLICY AND IFB PAYS THE PREMIUMS REQUIRED TO MAINTAIN THE POLICY. IN CONJUNCTION WITH THE AGREEMENT, DANIEL BOUCHER HAS EXECUTED A COLLATERAL ASSIGNMENT IN FAVOR OF IFB THAT SECURES THE REPAYMENT TO IFB OF THE AMOUNT OF PREMIUMS PAID ON THE POLICY. THE RECEIVABLE IS RECORDED AT THE PRESENT VALUE OF PREMIUMS PAID TO DATE BASED ON THE APPLICABLE RISK-FREE RATE OF RETURN AND THE LIFE EXPECTANCY OF THE OFFICER AS DETERMINED BY STANDARD MORTALITY TABLES.SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS:(A) NAME OF INTERESTED PERSON: SHIRLEY SHOUSE(D) DESCRIPTION OF TRANSACTION: EMPLOYMENT SERVICES PROVIDED BY COMPANIES OWNED BY THE INTERESTED PERSON.(A) NAME OF INTERESTED PERSON: DR. KERRY COLLINS(D) DESCRIPTION OF TRANSACTION: MEDICAL CLINIC SERVICES PROVIDED BY A MEDICAL PRACTICE OWNED BY THE INTERESTED PERSON. FORM 990, PART VI, SECTION A, LINE 2 JOHN GOOGE - MEMBER OF THE BOARD OF DIRECTORS IS THE FATHER OF DAVID GOOGE - MEMBER OF THE BOARD OF DIRECTORS. TODD LYNCH - MEMBER OF THE BOARD OF DIRECTORS IS THE SON-IN-LAW OF JUDY BULLARD - MEMBER OF THE BOARD OF DIRECTORS. RICHARD SIEG - MEMBER OF THE BOARD OF DIRECTORS IS THE SON-IN-LAW OF DAVID PLYLER - MEMBER OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11 AFTER REVIEW BY FINANCIAL MANAGEMENT PERSONNEL AT IFB, THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE AUDIT COMMITTEE OF THE BOARD, THE GOVERNANCE BODY CHARGED WITH APPROVAL OF THE FILING OF THE RETURN, IN ADVANCE OF A SCHEDULED MEETING OF THE AUDIT COMMITTEE FOR THE PURPOSE OF CONDUCTING A DETAILED REVIEW OF THE FORM 990. THE CHIEF FINANCIAL OFFICER (CFO) AND A REPRESENTATIVE FROM IFB'S TAX RETURN PREPARER MEET WITH THE AUDIT COMMITTEE FOR AN IN-DEPTH REVIEW OF THE FORM 990. FROM THIS MEETING, THE AUDIT COMMITTEE APPROVES THE RETURN FOR FILING AS PREPARED, OR WITH AGREED-UPON CHANGES. FOLLOWING AUDIT COMMITTEE APPROVAL, A COPY OF THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO TIMELY FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ON AN ANNUAL BASIS, THE CORPORATE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS DISTRIBUTES A CONFLICTS OF INTEREST DISCLOSURE STATEMENT TO ALL BOARD MEMBERS, OFFICERS, AND KEY EMPLOYEES. THE COMMITTEE, ALONG WITH COMPLIANCE PERSONNEL, EXAMINE THE COMPLETED STATEMENTS AND PROMPTLY INVESTIGATE AND RESOLVE ANY REAL OR PERCEIVED CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 ANNUAL COMPENSATION OF THE EXECUTIVE DIRECTOR AND EXECUTIVE CHAIRMAN IS SET BY THE BOARD OF DIRECTORS. THE BOARD CONDUCTS ANNUAL PERFORMANCE EVALUATIONS OF THE EXECUTIVE DIRECTOR AND EXECUTIVE CHAIRMAN, AND ALONG WITH THE RESULTS OF THE EVALUATIONS, THE BOARD USES PERIODIC COMPENSATION SURVEYS CONDUCTED BY OUTSIDE CONSULTANTS AND CONSULTS COMPARATIVE COMPENSATION DATA RELATED TO THE COMPENSATION PACKAGES OF TOP EXECUTIVES AT ORGANIZATIONS OF SIMILAR SIZE AND MISSION, INCLUDING EXAMINATION OF THE ORGANIZATIONS' FORMS 990, IN ORDER TO DETERMINE THE COMPENSATION OF THE EXECUTIVE DIRECTOR AND EXECUTIVE CHAIRMAN ON A YEARLY BASIS. FOR OTHER OFFICERS AND KEY EMPLOYEES, ANNUAL COMPENSATION IS SET BY THE EXECUTIVE DIRECTOR. THE EXECUTIVE DIRECTOR CONDUCTS AN ANNUAL PERFORMANCE EVALUATION FOR EACH OFFICER AND KEY EMPLOYEE, AND ALONG WITH THE RESULTS OF THE EVALUATION, THE EXECUTIVE DIRECTOR CONSULTS COMPARATIVE COMPENSATION DATA RELATED TO OFFICERS AND KEY EMPLOYEES AT ORGANIZATIONS OF SIMILAR SIZE AND MISSION, INCLUDING EXAMINATION OF THE ORGANIZATIONS' FORMS 990, IN ORDER TO DETERMINE EACH OFFICER'S AND KEY EMPLOYEE'S COMPENSATION ON A YEARLY BASIS. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS ARE MAINTAINED BY THE EXECUTIVE ASSISTANT TO THE EXECUTIVE DIRECTOR. THIS EMPLOYEE MAKES THESE DOCUMENTS AVAILABLE UPON REQUEST. THE FINANCIAL STATEMENTS ARE MAINTAINED BY THE CFO. THE CFO MAKES THESE STATEMENTS, AS DISCLOSED IN THE FORM 990, AVAILABLE UPON REQUEST. ALSO, SUMMARIZED FINANCIAL INFORMATION IS INCLUDED IN THE ORGANIZATION'S ANNUAL REPORT. THE CONFLICT OF INTEREST POLICY IS MAINTAINED BY THE CORPORATE GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS. THE COMMITTEE CHAIR MAKES THIS POLICY AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 6,108. DONATED SERVICES AND USE OF FACILITIES: 48,533. TOTAL TO FORM 990, PART XI, LINE 5: 54,641. A BRIGHTER PATH FOUNDATION 7730 NORTH POINT DRIVE WINSTONSALEM NC 27106 263376328 SUPPORTING WINSTON-SALEM INDUSTRIES FOR THE BLIND, INC. NC 501(C)(3) 509(A)(3), TYPE I N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 A BRIGHTER PATH FOUNDATION N 163000 FAIR VALUE OF SERVICES PROVIDED