Volunteer Blind Industries Inc in Morristown, Tennessee (TN)

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Volunteer Blind Industries Inc
Employer Identification Number (EIN)620526643
Name of OrganizationVolunteer Blind Industries Inc
Address758 W Morris Blvd, Morristown, TN 37813-2136
SubsectionCharitable Organization
Ruling Date06/1956
DeductibilityContributions are deductible
FoundationOrganization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$5,000,000 to $9,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$7,678,060
Amount of Income$14,763,574
Form 990 Revenue Amount$2,158,168


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Financial snapshot ($)

Revenue for 2011

Functional expenses for 2011

Support schedule

Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$4,573,407
Contributions, Gifts, Grants and Other Similar Amounts$1,336,410
Program Service Revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$28,446
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$32,243
Gross rents (Real / Personal)$38,926 / $0
Less: rental expenses (Real / Personal)$6,683 / $0
Rental income or (loss) (Real / Personal)$32,243 / $0
Net gain from sales of assets other than inventory$2,650
Gross amount from sales of assets other than inventory (Securities / Other)$0 / $2,650
Less: cost or other basis and sales expenses (Securities / Other)$0 / $0
Gain or (loss) (Securities / Other)$0 / $2,650
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$3,173,658
Gross sales of inventory, less returns and allowances$16,693,279
Less: cost of goods sold$13,519,621
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$2,115,467
Compensation of current officers, directors, trustees, and key employees$93,725
Other salaries and wages$720,126
Payroll taxes$0
Professional fundraising services$0
Other$1,301,616
Balance Sheet (for 2011)
Total assets$10,240,294
Total liabilities$2,082,583
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$500,841
Unsecured notes and loans payable to unrelated third parties$0
Other$1,581,742
Total net assets or fund balances$8,157,711
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2011)
2007 - 2011 Total
Total Support$3,257,389
Gifts, grants, contributions, and membership fees received$3,069,441
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$187,948
Gross receipts from related activities, etc.$68,269,418
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