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        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>IPC IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(6) AS A NOT-FOR-PROFIT ORGANIZATION. IPC CHINA IS SUBJECT TO THE INCOME TAX LAWS OF THE PEOPLE'S REPUBLIC OF CHINA. IPC INDIA IS SUBJECT TO THE INCOME TAX LAWS OF THE REPUBLIC OF INDIA. ACCORDINGLY, THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS DO NOT REFLECT INCOME TAXES, EXCEPT FOR FOREIGN TAXES, WHICH ARE INCLUDED IN INTERNATIONAL RELATIONS EXPENSE. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY IPC ASSOCIATION AND RECOGNIZE A TAX LIABILITY IF IPC ASSOCIATION HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS OR OTHER APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY IPC ASSOCIATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2013 AND 2012, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. IPC ASSOCIATION IS SUBJECT TO ROUTINE AUDITS BY TAXING JURISDICTIONS; HOWEVER, THERE ARE CURRENTLY NO AUDITS FOR ANY TAX PERIODS IN PROGRESS. MANAGEMENT BELIEVES IT IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS FOR YEARS PRIOR TO 2010.</ExplanationTxt>
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        <DeferredCompensationFlngOrgAmt>19730</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>1444</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>207067</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>ARTHUR HUENECKE</PersonNm>
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        <DeferredCompensationFlngOrgAmt>19555</DeferredCompensationFlngOrgAmt>
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        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>213301</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DAVID BERGMAN</PersonNm>
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        <TotalCompensationFilingOrgAmt>209392</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DAVE TORP</PersonNm>
        <TitleTxt>VICE PRESIDENT</TitleTxt>
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        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>19030</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>9788</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>192786</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JOHN HASSELMAN</PersonNm>
        <TitleTxt>VICE PRESIDENT</TitleTxt>
        <BaseCompensationFilingOrgAmt>162490</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>8000</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>12029</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
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        <TotalCompensationFilingOrgAmt>189151</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
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        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>TOM NEWTON</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <BaseCompensationFilingOrgAmt>113002</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>7500</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>13395</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>18385</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>152282</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>IPC PAYS TEMPORARY HOUSING FOR THE PRESIDENT OF THE CHINESE BRANCH. MONTHLY AUTO ALLOWANCE IS PAID AND GROSSED-UP. TRAVEL TO BOARD MEETINGS IS PAID FOR SPOUSES OF ALL EXECUTIVES AND IS INCLUDED AS TAXABLE COMPENSATION TO THE OFFICERS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD RETAINS THE SERVICES OF AN INDEPENDENT CPA FIRM TO PREPARE THE ORGANIZATION'S FORM 990. MANAGEMENT REVIEWS THE COMPLETED FORM 990 AND PROVIDES A FULL COPY TO ALL VOTING MEMBERS OF THE GOVERNING BODY PRIOR TO FILING. THE GOVERNING BODY IS PROVIDED A REASONABLE AMOUNT OF TIME TO REVIEW THE RETURN AND ASK ANY QUESTIONS DIRECTLY TO ORGANIZATION MANAGEMENT OR THE CONTACT AT THE INDEPENDENT CPA FIRM PRIOR TO FILING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD SECRETARY IS RESPONSIBLE FOR CATALOGING ALL CONFLICTS OF INTEREST. THE CONFLICT OF INTEREST QUESTIONAIRE AND POLICY IS DISTRIBUTED ANNUALY. DIRECTORS ARE REQUESTED TO REPORT ANY CONFLICTS ON AN ANNUAL BASIS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>AN INDEPENDENT COMPENSATION COMMITTEE DETERMINES THE CEO'S SALARY BASED COMPARABILITY DATA. THE COMMITTEE CONTEMPORANEOUSLY SUBSTANTIATES ITS DELIBERATION AND DECISION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE THROUGH APPLICABLE GOVERNMENTAL AGENCIES; THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON WRITTEN REQUEST TO THE ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
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        <DisregardedEntityName>
          <BusinessNameLine1>IPC EDUCATION FOUNDATION</BusinessNameLine1>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1>3000 LAKESIDE DRIVE SUITE 309-S</AddressLine1>
          <City>BANNOCKBURN</City>
          <State>IL</State>
          <ZIPCode>60015</ZIPCode>
        </USAddress>
        <EIN>364417168</EIN>
        <PrimaryActivitiesTxt>FUND EDUCATION SCHOLARSHIPS &amp; MATERIALS PURCHASE PROGRAMS FOR H.S. LEVEL</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>IL</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(C)(3)</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>LINE 1</PublicCharityStatusTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1>NONE</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
      <IdRelatedOrgTxblCorpTrGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1>IPC GLOBAL TECHNOLOGY MANAGEMENT CONSULTING CO LTD</BusinessNameLine1>
        </RelatedOrganizationName>
        <ForeignAddress>
          <AddressLine1>5F B3-1 BLOCK B QINGDAO INTL INNO</AddressLine1>
          <City>QINGDAO</City>
          <Country>CH</Country>
          <PostalCode>266101</PostalCode>
        </ForeignAddress>
        <PrimaryActivitiesTxt>TRAINING</PrimaryActivitiesTxt>
        <LegalDomicileForeignCountryCd>CH</LegalDomicileForeignCountryCd>
        <EntityTypeTxt>C</EntityTypeTxt>
        <ShareOfTotalIncomeAmt>33813</ShareOfTotalIncomeAmt>
        <ShareOfEOYAssetsAmt>341158</ShareOfEOYAssetsAmt>
        <OwnershipPct>1.00000</OwnershipPct>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedOrgTxblCorpTrGrp>
      <IdRelatedOrgTxblCorpTrGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1>IPC GLOBAL TECHNOLOGY MANAGEMENT CONSULTING CO LTD</BusinessNameLine1>
        </RelatedOrganizationName>
        <ForeignAddress>
          <AddressLine1>NO 238-34 1ST FLOOR 32ND CROSS</AddressLine1>
          <City>BANGALORE</City>
          <Country>IN</Country>
          <PostalCode>560070</PostalCode>
        </ForeignAddress>
        <PrimaryActivitiesTxt>MANAGEMENT CONSULTING AND TRADE SHOWS</PrimaryActivitiesTxt>
        <LegalDomicileForeignCountryCd>IN</LegalDomicileForeignCountryCd>
        <EntityTypeTxt>C</EntityTypeTxt>
        <ShareOfTotalIncomeAmt>359532</ShareOfTotalIncomeAmt>
        <OwnershipPct>0.91000</OwnershipPct>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedOrgTxblCorpTrGrp>
      <IdRelatedOrgTxblCorpTrGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1>IPC GLOBAL TECHNOLOGY MANAGEMENT CONSULTING CO LTD</BusinessNameLine1>
        </RelatedOrganizationName>
        <ForeignAddress>
          <AddressLine1>ROOM 510 MODERN LOGISTICS BLDG 4</AddressLine1>
          <City>SHANGHAI</City>
          <Country>CH</Country>
          <PostalCode>200233</PostalCode>
        </ForeignAddress>
        <PrimaryActivitiesTxt>MANAGEMENT CONSULTING AND TRADE SHOWS</PrimaryActivitiesTxt>
        <LegalDomicileForeignCountryCd>CH</LegalDomicileForeignCountryCd>
        <EntityTypeTxt>C</EntityTypeTxt>
        <ShareOfTotalIncomeAmt>1658178</ShareOfTotalIncomeAmt>
        <ShareOfEOYAssetsAmt>655004</ShareOfEOYAssetsAmt>
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        <ControlledOrganizationInd>0</ControlledOrganizationInd>
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      <IdRelatedOrgTxblCorpTrGrp>
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          <BusinessNameLine1>IPC GLOBAL TECHNOLOGY MANAGEMENT CONSULTING CO LTD</BusinessNameLine1>
        </RelatedOrganizationName>
        <ForeignAddress>
          <AddressLine1>REGUS TAIPEI MANHATTAN SHIN KONG M</AddressLine1>
          <City>TAIPEI</City>
          <Country>TW</Country>
          <PostalCode>11049</PostalCode>
        </ForeignAddress>
        <PrimaryActivitiesTxt>MANAGEMENT CONSULTING SERVICES</PrimaryActivitiesTxt>
        <LegalDomicileForeignCountryCd>TW</LegalDomicileForeignCountryCd>
        <EntityTypeTxt>C</EntityTypeTxt>
        <ShareOfTotalIncomeAmt>48332</ShareOfTotalIncomeAmt>
        <ShareOfEOYAssetsAmt>32095</ShareOfEOYAssetsAmt>
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        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedOrgTxblCorpTrGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>0</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>0</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>0</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>0</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>0</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>0</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>0</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>0</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>0</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>0</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>0</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>0</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>0</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>0</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>0</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>0</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>0</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>0</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>0</TransferFromOtherOrgInd>
    </IRS990ScheduleR>
  </ReturnData>
</Return>