International Corrugated Packaging Foundation
- Assets
- $19.3m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 3
- Location
- Alexandria, VA
- Founding
- 10/1988
- Data as of
- 12/2021
- EIN
- 54-1366696
Organization Overview
International Corrugated Packaging Foundation is located in Alexandria, VA. The organization was established in 1988. According to its NTEE Classification (Q19) the organization is classified as: Support N.E.C., under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, International Corrugated Packaging Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Corrugated Packaging Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, International Corrugated Packaging Foundation generated $1.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.7%) each year. All expenses for the organization totaled $556.8k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, International Corrugated Packaging Foundation has awarded 17 individual grants totaling $511,109. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
GENERATE A STREAM OF INCREASINGLY QUALIFIED STUDENTS TO ENTER THE CORRUGATED INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED PROGRAMS, EQUIPMENT, FINANCIAL, AND OTHER SUPPORT TO UNIVERSITIES, COLLEGES, AND TRADE SCHOOLS TO ENHANCE STUDENTS' EDUCATION AND UNDERSTANDING OF THE CAREERS IN THE GLOBAL CORRUGATED PACKAGING INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard M Flaherty President | OfficerTrustee | 55 | $239,598 |
Gregory V Hall Chairman | OfficerTrustee | 1 | $0 |
Andy Pierson Immediate Past Chairman | OfficerTrustee | 1 | $0 |
John Lingle Director | OfficerTrustee | 1 | $0 |
Dennis Colley Director | Trustee | 1 | $0 |
Mike D'angelo Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $127,000 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $165,485 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $292,485 |
| Total Program Service Revenue | $0 |
| Investment income | $411,304 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $417,376 |
| Net Income from Fundraising Events | $41,441 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,163,366 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $71,827 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $289,329 |
| Compensation of current officers, directors, key employees. | $57,866 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,550 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,510 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $70,596 |
| Fees for services: Other | $12,442 |
| Advertising and promotion | $0 |
| Office expenses | $5,255 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,800 |
| Travel | $5,355 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,182 |
| Insurance | $7,015 |
| All other expenses | $6,220 |
| Total functional expenses | $556,769 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $919,592 |
| Pledges and grants receivable | $524,892 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,755 |
| Net Land, buildings, and equipment | $2,162 |
| Investments—publicly traded securities | $17,886,466 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,340,867 |
| Accounts payable and accrued expenses | $30,061 |
| Grants payable | $50,000 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $80,061 |
| Net assets without donor restrictions | $13,032,770 |
| Net assets with donor restrictions | $6,228,036 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $19,340,867 |
Grants Awarded
Over the last fiscal year, International Corrugated Packaging Foundation has awarded $78,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Itasca, IL PURPOSE: Accrual for research grant. | $50,000 |
VIRGINIA TECH PURPOSE: To develop skilled and knowledgeable students to the meet the workforce needs of the corrugated packaging & displays industry. | $28,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that International Corrugated Packaging Foundation has recieved totaling $35,000.
| Awarding Organization | Amount |
|---|---|
Association Of Independent Corrugated Converters Alexandria, VA | | $25,000 |
Waco Foundation Waco, TX PURPOSE: Funding Scholarships | $10,000 |
Endowment Analysis
| Beg. Balance | $15,869,540 |
| Earnings | $2,016,926 |
| Ending Balance | $17,886,466 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Environmental Investigation Agency Washington, DC | $7,230,808 | $6,987,588 |
Air Serv International Inc Remington, VA | $6,803,077 | $2,257,482 |
International Corrugated Packaging Foundation Alexandria, VA | $19,340,867 | $1,163,366 |
Kumveka Richmond, VA | $255,793 | $436,165 |
Operation Renewed Hope Medical Missions Agency Fayetteville, NC | $827,138 | $505,279 |
Mission Safety International Inc Elizabethton, TN | $221,471 | $449,612 |
Crosspoint Of India Inc Bartlett, TN | $352,189 | $253,130 |
Christalis Inc Burtonsville, MD | $326,402 | $244,300 |
Outposts Of Hope Inc Durham, NC | $32,425 | $0 |
Worldwide Hearts & Hands Inc Lexington, KY | $444,668 | $177,427 |
Missionaire International Winchester, TN | $0 | $0 |
Blue Mountain Project Washington, DC | $28,816 | $0 |