Ipc International INC FY2023 filing

Not tax-deductible

Bannockburn, IL501(c)(6)Since 1957Mutual / membership EIN 23-7091810Revenue $43.3M in FY2023Latest return filed Nov 17, 2025

On file with the IRSipc.orgBannockburn, ILTax-exempt since Jan 1971

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Ipc is a global trade association dedicated to furthering the competitive excellence and financial success of its members, who are participants in the electronics industry.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
$5.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $2.7M a year · 7% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$5.2M
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
3 mo
of spending, in cash
Plus $21.2M in investments, Pt X · Ln 11–13
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$16.1M
36% of total assets
Looks good: liabilities are 36% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 20 voting members
Looks good: 19 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$43.3M
+11% vs prior year
Spent
$39.9M
Net assets
$29.1M
By yearFY2020–FY2024
Revenue
$43.3M
FY2023▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$30.1M
FY2021$30.8M
FY2022$39.1M
FY2023$43.3M
FY2024$48.6M
Expenses
$39.9M
FY2023▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$28.6M
FY2021$29.5M
FY2022$35.2M
FY2023$39.9M
FY2024$45.3M
Net assets
$29.1M
FY2023▲ +17%
Tap a bar for its year
Net assets by fiscal year
FY2020$21.0M
FY2021$22.9M
FY2022$24.9M
FY2023$29.1M
FY2024$33.2M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1971.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

32 people listed on the 990; $5.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
President/CEO
$1,654,171Pt VII · Sec A
VP Government Relations
$440,690Pt VII · Sec A
President Europe Operation
$422,185Pt VII · Sec A
VP Standards and Technology
$420,473Pt VII · Sec A
$414,764Pt VII · Sec A
VP Certification & Training
$390,254Pt VII · Sec A
$379,044Pt VII · Sec A
SR Director IT
$215,436Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
John Mitchell$2,667,108$1,654,171$1,492,129$1,355,262$1,380,018
Chris Mitchell$478,178$440,690$374,942$317,871$324,815
Sanjay Huprikar$417,413$422,185$377,141$329,063$336,473
David Bergman$415,398$420,473$376,158$324,739$329,600
Tom Sandman$408,993$414,764$370,553$322,617$329,991
David Hernandez$401,607$390,254$363,464$278,606$244,300
Brian Knier$385,342$379,044$354,790$286,808$293,206
Philip Carmichael————$288,763

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ipc International INC executive salaries →

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Helps electronics industry members compete and succeed globally.

Questions for Ipc International INC

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Your first name shows with your question. Ipc International INC answers here, for everyone.

1 program · in their own filed words · FY2023
01

Ipc devotes its resources to management improvement and technology enhancement programs, the creation of relevant standards, the protection of the environment, and pertinent government relations. Approximately 3,190 member companies worldwide participate in ipc's programs.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$25K
Grants paid · 4 grants · $773K · 2021–2024
Ipc Education FoundationIL · FY2024$22,573
Ipc Education FoundationIL · FY2023$250,000
Ipc Education FoundationIL · FY2022$250,000
Ipc Education FoundationIL · FY2021$250,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$43.3M
Ln 12
Fees for servicesLn 2g$36.9M
Other incomeLn 4–11$5.8M
Investment incomeLn 3$635K
Money outPt IX
$39.9M
Ln 25
Owns and owesPt X
$29.1M
net assets · Ln 32
Cash and savingsLn 1–2$9.9M
Total assetsLn 16$45.2M
LiabilitiesLn 26$16.1M
PeoplePt VI, VII
32
listed · VII A
PaidVII A12
Voting boardVI 1a20
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$36.9M
Investment incomeLn 3$635K
Other incomeLn 4–11$5.8M
Total revenueLn 12$43.3M
Assets in detailPt X, end of year
CashLn 1$23K
SavingsLn 2$9.9M
Cash and savings togetherLn 1–2$9.9M
Accounts receivableLn 4$3.2M
Inventories for sale or useLn 8$514K
Prepaid expenses and deferred chargesLn 9$1.5M
Land, buildings, equipmentLn 10c$5.1M
InvestmentsLn 11–13$21.2M
Intangible assetsLn 14$1.6M
Other assetsLn 15$2.2M
Total assetsLn 16$45.2M
LiabilitiesLn 26$16.1M
Net assetsLn 32$29.1M
OperationsPt I, VI
EmployeesI 594
VolunteersI 64,135
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$8.9M$9.9M
InvestmentsLn 11–13$17.8M$21.2M
Land, buildings, equipmentLn 10c$4.7M$5.1M
Total assetsLn 16$41.2M$45.2M
LiabilitiesLn 26$16.2M$16.1M
Net assetsLn 32$24.9M$29.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$250K
Pay of current officers, directors and key staffLn 5$4.5M
Other salaries and wagesLn 7$12.1M
Pension plan contributionsLn 8$1.0M
Other employee benefitsLn 9$2.0M
Payroll taxesLn 10$815K
Legal feesLn 11b$70K
Accounting feesLn 11c$117K
Other fees for servicesLn 11g$5.7M
Advertising and promotionLn 12$466K
Office expensesLn 13$9K
Information technologyLn 14$2.3M
OccupancyLn 16$671K
TravelLn 17$1.0M
Conferences, conventions and meetingsLn 19$2.5M
Depreciation, depletion and amortizationLn 22$1.9M
InsuranceLn 23$87K
Other expenses (24a–d)Ln 24$2.7M
All other expensesLn 24e$1.8M
Total functional expensesLn 25$39.9M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 17, 2025 $48.6M$45.3M$3.3M$33.2M 990 PDF
FY2023 ViewingFiled with the IRS Nov 15, 2024 $43.3M$39.9M$3.4M$29.1M 990 PDF
FY2022Filed with the IRS Nov 15, 2023 $39.1M$35.2M$3.8M$24.9M 990 PDF
FY2021Filed with the IRS Nov 14, 2022 $30.8M$29.5M$1.3M$22.9M 990 PDF
FY2020Filed with the IRS Nov 15, 2021 $30.1M$28.6M$1.6M$21.0M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $43,340,282 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,115,461$0
I-9 Program service revenuePrior year $32,302,498$36,867,354
I-10 Investment incomePrior year $320,244$635,154
I-11 Other revenuePrior year $5,346,901$5,837,774
I-12 Total revenuePrior year $39,085,104$43,340,282
I-13 Grants and similar amounts paidPrior year $250,000$250,000
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $18,893,509$20,448,553
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $16,102,915$19,223,431
I-18 Total expensesPrior year $35,246,424$39,921,984
I-19 Revenue less expensesPrior year $3,838,680$3,418,298
Part VI · Governance 19 of 20 board members independent, no flags
VI-1a Voting members of the governing body20
VI-1b Independent voting members19
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $43,340,282 across 3 lines filed
Lines not itemized here account for $8,740,657 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $33,964,471$33,964,471
VIII-3 Investment incomeExcluded from tax $635,154$635,154
VIII-12 Total revenueRelated to mission $42,705,128 · Unrelated business $0 · Excluded from tax $635,154$43,340,282
Part IX · Statement of functional expenses $39,921,984 across 19 lines filed
IX-1 Grants to domestic organizations$250,000
IX-5 Pay of current officers, directors and key staff$4,547,111
IX-7 Other salaries and wages$12,121,493
IX-8 Pension plan contributions$1,008,857
IX-9 Other employee benefits$1,956,077
IX-10 Payroll taxes$815,015
IX-11b Legal fees$70,245
IX-11c Accounting fees$117,000
IX-11g Other fees for services$5,693,546
IX-12 Advertising and promotion$465,851
IX-13 Office expenses$9,398
IX-14 Information technology$2,324,685
IX-16 Occupancy$671,479
IX-17 Travel$1,005,728
IX-19 Conferences, conventions and meetings$2,468,338
IX-22 Depreciation, depletion and amortization$1,875,280
IX-23 Insurance$86,883
IX-24 Other expenses (24a–d)$2,655,147
IX-24e All other expenses$1,779,851
IX-25 Total functional expenses$39,921,984
Part X · Balance sheet $45,237,544 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $23,225$23,225
X-2 Savings and temporary cash investmentsStart of year $8,861,366$9,867,731
X-4 Accounts receivableStart of year $3,362,289$3,179,337
X-8 Inventories for sale or useStart of year $590,338$513,945
X-9 Prepaid expenses and deferred chargesStart of year $1,607,837$1,534,423
X-10c Land, buildings and equipment, netStart of year $4,689,265$5,111,639
X-11 Publicly traded securitiesStart of year $17,781,874$21,182,881
X-14 Intangible assetsStart of year $1,791,463$1,645,794
X-15 Other assetsStart of year $2,464,015$2,178,569
X-16 Total assetsStart of year $41,171,672$45,237,544
X-17 Accounts payable and accrued expensesStart of year $3,603,225$3,467,368
X-19 Deferred revenueStart of year $9,881,301$10,148,095
X-25 Other liabilitiesStart of year $2,754,392$2,491,412
X-26 Total liabilitiesStart of year $16,238,918$16,106,875
X-27 Net assets without donor restrictionsStart of year $24,932,754$29,130,669
X-32 Total net assets or fund balancesStart of year $24,932,754$29,130,669
X-33 Total liabilities and net assetsStart of year $41,171,672$45,237,544
Part XI · Reconciliation of net assets $29,130,669 net assets at year end
XI-1 Total revenue$43,340,282
XI-2 Total expenses$39,921,984
XI-3 Revenue less expenses$3,418,298
XI-4 Net assets at start of year$24,932,754
XI-5 Net unrealized gains (losses) on investments$779,617
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$29,130,669

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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