﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2010v3.4">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2011-11-14T16:01:48-06:00</Timestamp>
    <TaxPeriodEndDate>2010-12-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>BLACKMAN KALLICK LLP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>10 S RIVERSIDE PLAZA 9TH FLOOR</AddressLine1>
        <City>CHICAGO</City>
        <State>IL</State>
        <ZIPCode>60606</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2010-01-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>237091810</EIN>
      <Name>
        <BusinessNameLine1>IPC INC</BusinessNameLine1>
      </Name>
      <NameControl>IPCI</NameControl>
      <Phone>8476157100</Phone>
      <USAddress>
        <AddressLine1>3000 LAKESIDE DRIVE NO 309-S</AddressLine1>
        <City>BANNOCKBURN</City>
        <State>IL</State>
        <ZIPCode>60015</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>C JAMES HERRING</Name>
      <Title>PRESIDENT</Title>
      <Phone>8476157100</Phone>
      <DateSigned>2011-11-11</DateSigned>
      <AuthorizeThirdParty>1</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>LU ANN TRAPP</Name>
      <Phone>3122071040</Phone>
      <DatePrepared>2011-11-11</DatePrepared>
    </Preparer>
    <TaxYear>2010</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="7">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <NameOfPrincipalOfficerPerson>C JAMES HERRING</NameOfPrincipalOfficerPerson>
      <AddressPrincipalOfficerUS>
        <AddressLine1>3000 LAKESIDE DRIVE NO 309-S</AddressLine1>
        <City>BANNOCKBURN</City>
        <State>IL</State>
        <ZIPCode>60015</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>13191995</GrossReceipts>
      <GroupReturnForAffiliates>0</GroupReturnForAffiliates>
      <Organization501c typeOf501cOrganization="6">X</Organization501c>
      <WebSite>WWW.IPC.ORG</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1957</YearFormation>
      <StateLegalDomicile>NY</StateLegalDomicile>
      <ActivityOrMissionDescription>TO IMPROVE THE ELECTRONIC INTERCONNECTING INDUSTRY'S TECHNOLOGY AND COMMUNICATION.</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>20</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>19</NbrIndependentVotingMembers>
      <TotalNbrEmployees>78</TotalNbrEmployees>
      <TotalNbrVolunteers>19</TotalNbrVolunteers>
      <TotalGrossUBI>0</TotalGrossUBI>
      <NetUnrelatedBusinessTxblIncome>0</NetUnrelatedBusinessTxblIncome>
      <ContributionsGrantsPriorYear>0</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>0</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>12192166</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>12842388</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>351963</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>349607</InvestmentIncomeCurrentYear>
      <OtherRevenuePriorYear>0</OtherRevenuePriorYear>
      <OtherRevenueCurrentYear>0</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>12544129</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>13191995</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsPriorYear>0</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>0</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersPriorYear>0</BenefitsPaidToMembersPriorYear>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>6663698</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>6782019</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpPriorYear>0</TotalProfFundrsngExpPriorYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>0</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>6370732</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>5757180</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>13034430</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>12539199</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>-490301</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>652796</RevenuesLessExpensesCY>
      <TotalAssetsBOY>15350642</TotalAssetsBOY>
      <TotalAssetsEOY>18216358</TotalAssetsEOY>
      <TotalLiabilitiesBOY>5508617</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>6853508</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>9842025</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>11362850</NetAssetsOrFundBalancesEOY>
      <MissionDescription>TO IMPROVE THE ELECTRONIC INTERCONNECTING INDUSTRY'S TECHNOLOGY AND COMMUNICATION.</MissionDescription>
      <SignificantNewProgramServices>0</SignificantNewProgramServices>
      <SignificantChange>0</SignificantChange>
      <Description>IPC DEVOTES ITS RESOURCES TO MANAGEMENT IMPROVEMENT AND TECHNOLOGY ENHANCEMENT PROGRAMS, THE CREATION OF RELEVANT STANDARDS (CURRENTLY AT 230), THE PROTECTION OF THE ENVIRONMENT, AND PERTINENT RELATIONS. APPROXIMATELY 2,650 COMPANIES WORLDWIDE PARTICIPATE IN IPC'S PROGRAMS.</Description>
      <DescribedIn501C3>0</DescribedIn501C3>
      <ScheduleBRequired>0</ScheduleBRequired>
      <PoliticalActivities referenceDocumentId="RetDoc1039700001">0</PoliticalActivities>
      <SubjectToProxyTax referenceDocumentId="RetDoc1039700001">1</SubjectToProxyTax>
      <DonorAdvisedFunds referenceDocumentId="RetDoc1040000001">0</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="RetDoc1040000001">0</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="RetDoc1040000001">0</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="RetDoc1040000001">0</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="RetDoc1040000001">0</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="RetDoc1040000001">1</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="RetDoc1040000001">0</ReportInvestOthSecurities>
      <ReportProgRelInvest referenceDocumentId="RetDoc1040000001">0</ReportProgRelInvest>
      <ReportOtherAssets referenceDocumentId="RetDoc1040000001">0</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="RetDoc1040000001">1</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="RetDoc1040000001">1</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="RetDoc1040000001">0</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="RetDoc1040000001">1</ConsolidatedAuditFinancialStmt>
      <School>0</School>
      <ForeignOffice>1</ForeignOffice>
      <ForeignActivities referenceDocumentId="RetDoc1040500001">1</ForeignActivities>
      <MoreThan5000KToOrganizations referenceDocumentId="RetDoc1040500001">0</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals referenceDocumentId="RetDoc1040500001">0</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>0</ProfessionalFundraising>
      <FundraisingActivities>0</FundraisingActivities>
      <Gaming>0</Gaming>
      <Hospital>0</Hospital>
      <GrantsToOrganizations>0</GrantsToOrganizations>
      <GrantsToIndividuals>0</GrantsToIndividuals>
      <ScheduleJRequired referenceDocumentId="RetDoc1042400001">1</ScheduleJRequired>
      <TaxExemptBonds>0</TaxExemptBonds>
      <LoanToOfficerOrDQP>0</LoanToOfficerOrDQP>
      <GrantToRelatedPerson>0</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>0</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember>0</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp>0</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions>0</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt>0</DeductibleContributionsOfArt>
      <Terminated>0</Terminated>
      <PartialLiquidation>0</PartialLiquidation>
      <DisregardedEntity referenceDocumentId="RetDoc1043400001">0</DisregardedEntity>
      <RelatedEntity referenceDocumentId="RetDoc1043400001">1</RelatedEntity>
      <RelatedOrgControlledEntity>1</RelatedOrgControlledEntity>
      <TransactionRelatedEntity referenceDocumentId="RetDoc1043400001">0</TransactionRelatedEntity>
      <ActivitiesConductedPartnership referenceDocumentId="RetDoc1043400001">0</ActivitiesConductedPartnership>
      <ScheduleORequired>1</ScheduleORequired>
      <NumberFormsTransmittedWith1096>52</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <NumberOfEmployees>78</NumberOfEmployees>
      <EmploymentTaxReturnsFiled>1</EmploymentTaxReturnsFiled>
      <UnrelatedBusinessIncome>0</UnrelatedBusinessIncome>
      <ForeignFinancialAccount>1</ForeignFinancialAccount>
      <NameOfForeignCountry>CH</NameOfForeignCountry>
      <ProhibitedTaxShelterTrans>0</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>0</TaxablePartyNotification>
      <NonDeductibleContributions>0</NonDeductibleContributions>
      <IndoorTanningServices>0</IndoorTanningServices>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>20</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>19</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>0</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>0</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>0</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>0</MaterialDiversionOrMisuse>
      <MembersOrStockholders>0</MembersOrStockholders>
      <ElectionOfBoardMembers>0</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>0</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>1</MinutesOfGoverningBody>
      <MinutesOfCommittees>1</MinutesOfCommittees>
      <OfficerMailingAddress>0</OfficerMailingAddress>
      <LocalChapters>0</LocalChapters>
      <Form990ProvidedToGoverningBody>1</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>1</ConflictOfInterestPolicy>
      <AnnualDisclosureCoveredPersons>1</AnnualDisclosureCoveredPersons>
      <RegularMonitoringEnforcement>1</RegularMonitoringEnforcement>
      <WhistleblowerPolicy>1</WhistleblowerPolicy>
      <DocumentRetentionPolicy>1</DocumentRetentionPolicy>
      <CompensationProcessCEO>1</CompensationProcessCEO>
      <CompensationProcessOther>1</CompensationProcessOther>
      <InvestmentInJointVenture>0</InvestmentInJointVenture>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NameBusiness>
          <BusinessNameLine1>JENNIFER SANDAHL</BusinessNameLine1>
        </NameBusiness>
        <TelephoneNumber>8475972883</TelephoneNumber>
        <AddressUS>
          <AddressLine1>3000 LAKESIDE DRIVE SUITE 309S</AddressLine1>
          <City>BANNOCKBURN</City>
          <State>IL</State>
          <ZIPCode>60015</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <Form990PartVIISectionA>
        <NamePerson>DENNIS MCGUIRK</NamePerson>
        <Title>PRESIDENT</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>348167</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>41041</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ROBERT FERGUSON</NamePerson>
        <Title>CHAIRMAN</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>STEVE PUDLES</NamePerson>
        <Title>VICE CHAIRMAN</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DON SCROEDER</NamePerson>
        <Title>SECRETARY/TREASURER</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>PETER BIGELOW</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ROBERT BLACK</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JACK CALDERON</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JAMES HERRING</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ANDY HYATT</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>PETER MURPHY</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>NILESH NAIK</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JOE O'NEIL</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MARC PEO</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>REX ROSARIO</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DONGKAI SHANGGUAN</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>SHANE WHITESIDE</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MIKEL WILLIAMS</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ALAN WONG</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ZHOU XIN</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>SAMMY YI</NamePerson>
        <Title>DIRECTOR</Title>
        <AverageHoursPerWeek>0.50</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DAVID BERGMAN</NamePerson>
        <Title>VP, INTL RELATIONS</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>147497</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>31134</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ANTHONY HILVERS</NamePerson>
        <Title>VP, INDUSTRY PROGRAMS</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>141916</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>30694</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KIMBERLY STERLING</NamePerson>
        <Title>VP, MKTG/COMM/MEMB</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>107064</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>13013</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DAVID TORP</NamePerson>
        <Title>VP, STANDARDS &amp; TECHNOLOGY</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>134665</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>29872</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ART HUENECKE</NamePerson>
        <Title>CIO</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>128524</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>14877</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>1007833</TotalReportableCompFromOrg>
      <TotalReportableCompFrmRltdOrgs>0</TotalReportableCompFrmRltdOrgs>
      <TotalOtherCompensation>160631</TotalOtherCompensation>
      <NumberIndividualsGT100K>7</NumberIndividualsGT100K>
      <FormersListed>0</FormersListed>
      <TotalCompGT150K>1</TotalCompGT150K>
      <CompensationFromOtherSources>0</CompensationFromOtherSources>
      <NumberOfContractorsGT100K>0</NumberOfContractorsGT100K>
      <ProgramServiceRevenue>
        <Description>TECHNICAL PROGRAMS</Description>
        <BusinessCode>900099</BusinessCode>
        <TotalRevenueColumn>3641667</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>3641667</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>INDUSTRY PROGRAMS</Description>
        <BusinessCode>900099</BusinessCode>
        <TotalRevenueColumn>2959303</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>2959303</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>CERTIFICATION PROGRAMS</Description>
        <BusinessCode>900099</BusinessCode>
        <TotalRevenueColumn>2440151</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>2440151</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>MEMBERSHIP DUES</Description>
        <BusinessCode>900099</BusinessCode>
        <TotalRevenueColumn>1848021</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>1848021</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>INTERNATIONAL RELATION</Description>
        <BusinessCode>900099</BusinessCode>
        <TotalRevenueColumn>673690</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>673690</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalOthProgramServiceRevenue>
        <TotalRevenueColumn>1279556</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>1279556</RelatedOrExemptFunctionIncome>
      </TotalOthProgramServiceRevenue>
      <TotalProgramServiceRevenue>12842388</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>349607</TotalRevenueColumn>
        <ExclusionAmount>349607</ExclusionAmount>
      </InvestmentIncome>
      <TotalRevenue>
        <TotalRevenueColumn>13191995</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>12842388</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>0</UnrelatedBusinessRevenue>
        <ExclusionAmount>349607</ExclusionAmount>
      </TotalRevenue>
      <CompCurrentOfficersDirectors>
        <Total>389208</Total>
      </CompCurrentOfficersDirectors>
      <OtherSalariesAndWages>
        <Total>4928607</Total>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>456972</Total>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>640251</Total>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>366981</Total>
      </PayrollTaxes>
      <FeesForServicesLegal>
        <Total>32068</Total>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>37800</Total>
      </FeesForServicesAccounting>
      <FeesForServicesOther>
        <Total>604188</Total>
      </FeesForServicesOther>
      <OfficeExpenses>
        <Total>114336</Total>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>169223</Total>
      </InformationTechnology>
      <Royalties>
        <Total>81605</Total>
      </Royalties>
      <Occupancy>
        <Total>804225</Total>
      </Occupancy>
      <Travel>
        <Total>260581</Total>
      </Travel>
      <ConferencesMeetings>
        <Total>1210490</Total>
      </ConferencesMeetings>
      <DepreciationDepletion>
        <Total>318754</Total>
      </DepreciationDepletion>
      <Insurance>
        <Total>42085</Total>
      </Insurance>
      <OtherExpenses>
        <Description>COST OF GOODS SOLD</Description>
        <Total>572018</Total>
      </OtherExpenses>
      <OtherExpenses>
        <Description>POSTAGE AND SHIPPING</Description>
        <Total>518993</Total>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PRINTING AND PUBLICATIO</Description>
        <Total>293923</Total>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BANK FEES</Description>
        <Total>223598</Total>
      </OtherExpenses>
      <OtherExpenses>
        <Description>FULFILLMENT EXPENSES</Description>
        <Total>170454</Total>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>302839</Total>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>12539199</Total>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>22335</BOY>
        <EOY>22498</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>769927</BOY>
        <EOY>2207279</EOY>
      </SavingsAndTempCashInvestments>
      <AccountsReceivable>
        <BOY>406028</BOY>
        <EOY>754211</EOY>
      </AccountsReceivable>
      <InventoriesForSaleOrUse>
        <BOY>608713</BOY>
        <EOY>809100</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <BOY>424484</BOY>
        <EOY>350522</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>2488305</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>1691659</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>836217</BOY>
        <EOY>796646</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>12282938</BOY>
        <EOY>13276102</EOY>
      </InvestmentsPubTradedSecurities>
      <TotalAssets>
        <BOY>15350642</BOY>
        <EOY>18216358</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>1315554</BOY>
        <EOY>1823151</EOY>
      </AccountsPayableAccruedExpenses>
      <DeferredRevenue>
        <BOY>2811008</BOY>
        <EOY>3776088</EOY>
      </DeferredRevenue>
      <OtherLiabilities>
        <BOY>1382055</BOY>
        <EOY>1254269</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>5508617</BOY>
        <EOY>6853508</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>9842025</BOY>
        <EOY>11362850</EOY>
      </UnrestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>9842025</BOY>
        <EOY>11362850</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>15350642</BOY>
        <EOY>18216358</EOY>
      </TotalLiabNetAssetsFundBalances>
      <InfoInScheduleOPartXI>X</InfoInScheduleOPartXI>
      <ReconcilationRevenueExpenses>652796</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>868029</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
      <AuditCommittee>1</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleC documentId="RetDoc1039700001">
      <SubstantiallyAllDuesNondeduct>0</SubstantiallyAllDuesNondeduct>
      <OnlyInHouseLobbying>0</OnlyInHouseLobbying>
      <AgreeToCarryoverPriorYear>0</AgreeToCarryoverPriorYear>
      <DuesAssessments>1847971</DuesAssessments>
      <NonDedLobbyPoliticalCurrent>112596</NonDedLobbyPoliticalCurrent>
      <NonDedLobbyPoliticalTotal>112596</NonDedLobbyPoliticalTotal>
      <AggrAmtReportedInDuesNotices>369594</AggrAmtReportedInDuesNotices>
      <TaxableAmount>-256998</TaxableAmount>
    </IRS990ScheduleC>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>843005</OtherCostOrOtherBasis>
        <Depreciation>447830</Depreciation>
        <BookValue>395175</BookValue>
      </LeaseholdImprovements>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>1645300</OtherCostOrOtherBasis>
        <Depreciation>1243829</Depreciation>
        <BookValue>401471</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>796646</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>DEFERRED COMPENSATION</Description>
        <Amount>653792</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>DEFERRED RENT</Description>
        <Amount>300976</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>DEFERRED LEASE INCENTIVE</Description>
        <Amount>299501</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>1254269</TotalOfAmounts>
      <TotalRevenue>13191995</TotalRevenue>
      <TotalExpenses>12539199</TotalExpenses>
      <ExcessOrDeficitForYear>652796</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>868029</NetUnrealizedGLOnInvestments>
      <TotalAdjustments>868029</TotalAdjustments>
      <ExcessOrDeficitPerFS>1520825</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>14060024</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>868029</NetUnrealizedGainsInvestments>
      <RevenueNotRptdF990>868029</RevenueNotRptdF990>
      <RevenueSubtotal>13191995</RevenueSubtotal>
      <RevenueNotRptdOnFinStmt>0</RevenueNotRptdOnFinStmt>
      <TotalRevenuePerForm990>13191995</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>12539199</TotExpensesEtcAuditedFinclStmt>
      <ExpensesNotRptdF990>0</ExpensesNotRptdF990>
      <ExpensesSubtotal>12539199</ExpensesSubtotal>
      <ExpensesNotRptdOnFinStmt>0</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>12539199</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:</Identifier>
        <ReturnReference>PART X:</ReturnReference>
        <Explanation>IPC ASSOCIATION'S APPLICATION OF GAAPUSA REGARDING UNCERTAIN TAX POSITIONS HAD NO EFFECT ON ITS FINANCIAL POSITION AS MANAGEMENT BELIEVES IPC ASSOCIATION HAS NO MATERIAL UNRECOGNIZED INCOME TAX BENEFITS, INCLUDING ANY POTENTIAL RISK OF LOSS OF ITS NOT-FOR-PROFIT TAX STATUS. IPC ASSOCIATION WOULD ACCOUNT FOR ANY POTENTIAL INTEREST OR PENALTIES RELATED TO POSSIBLE FUTURE LIABILITIES FOR UNRECOGNIZED INCOME TAX BENEFITS AS INCOME TAX EXPENSE. IPC ASSOCIATION IS NO LONGER SUBJECT TO EXAMINATION BY FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR PERIODS BEFORE 2007.</Explanation>
      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
    <IRS990ScheduleF documentId="RetDoc1040500001">
      <AcctsActvsOutUSTable>
        <Region>EAST ASIA AND THE PACIFIC</Region>
        <NumberOfOffices>4</NumberOfOffices>
        <NumberOfEmployees>14</NumberOfEmployees>
        <TypeOfActivitiesConducted>PROGRAM SERVICES</TypeOfActivitiesConducted>
        <SpecificServicesProvided>TECHNOLOGY CONSULTING</SpecificServicesProvided>
        <TotalExpenditures>589453</TotalExpenditures>
      </AcctsActvsOutUSTable>
      <SubtotalNumberOfEmployees>14</SubtotalNumberOfEmployees>
      <ContNumberOfEmployees>0</ContNumberOfEmployees>
      <TotalNumberOfEmployees>14</TotalNumberOfEmployees>
      <SubtotalAmountSpent>589453</SubtotalAmountSpent>
      <ContAmountSpent>0</ContAmountSpent>
      <TotalAmountSpent>589453</TotalAmountSpent>
      <TransferToForeignCorp>0</TransferToForeignCorp>
      <InterestInForeignTrust>0</InterestInForeignTrust>
      <OwnForeignCorp>1</OwnForeignCorp>
      <PassiveForeignInvestCo>0</PassiveForeignInvestCo>
      <ForeignPartnership>0</ForeignPartnership>
      <BoycottCountries>0</BoycottCountries>
    </IRS990ScheduleF>
    <IRS990ScheduleJ documentId="RetDoc1042400001">
      <TravelForCompanions>X</TravelForCompanions>
      <WrittenPolicyReTAndEExpenses>1</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>1</SubstantiationRequired>
      <CompensationCommittee>X</CompensationCommittee>
      <Form990OfOtherOrganizations>X</Form990OfOtherOrganizations>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>0</SeverancePayment>
      <SupplementalNonqualRetirePlan>0</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>0</EquityBasedCompArrangement>
      <Form990ScheduleJPartII>
        <NamePerson>DENNIS MCGUIRK</NamePerson>
        <BaseCompensationFilingOrg>293076</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>40000</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>15091</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>30993</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>10048</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>389208</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>DAVID BERGMAN</NamePerson>
        <BaseCompensationFilingOrg>145497</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>2000</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>17190</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>13944</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>178631</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>ANTHONY HILVERS</NamePerson>
        <BaseCompensationFilingOrg>139916</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>2000</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>16750</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>13944</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>172610</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>DAVID TORP</NamePerson>
        <BaseCompensationFilingOrg>132665</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>2000</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>15928</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>13944</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>164537</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <ReturnReference>PART I, LINE 1A</ReturnReference>
        <Explanation>DENNIS MCGUIRK DOES RECEIVE REIMBURSEMENT FOR SPOUSAL TRAVEL, HOWEVER THIS IS TAXABLE COMPENSATION.</Explanation>
      </Form990ScheduleJPartIII>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <Identifier>FORM 990, PART VI, SECTION B, LINE 11</Identifier>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>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.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>AN INDEPENDENT COMPENSATION COMMITTEE DETERMINES THE CEO'S SALARY BASED COMPARABILITY DATA. THE COMMITTEE CONTEMPORANEOUSLY SUBSTANTIATES ITS DELIBERATION AND DECISION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE THROUGH APPLICABLE GOVERNMENTAL AGENCIES; THE CONFLICT OF INTEREST POLICY IS AVAILABLE UPON WRITTEN REQUEST TO THE ORGANIZATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED GAINS ON INVESTMENTS: 868,029.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>IPC EDUCATION FOUNDATION</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>3000 LAKESIDE DRIVE SUITE 309-S</AddressLine1>
          <City>BANNOCKBURN</City>
          <State>IL</State>
          <ZIPCode>60015</ZIPCode>
        </AddressUS>
        <EIN>364417168</EIN>
        <PrimaryActivities>FUND EDUCATION SCHOLARSHIPS &amp; MATERIALS PURCHASE PROGRAMS FOR H.S. LEVEL</PrimaryActivities>
        <LegalDomicileState>IL</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 1</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>NONE</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>IPC GLOBAL TECHNOLOGY MGMT CONSULTING CO LTD</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressForeign>
          <AddressLine1>1088 WEST YAN AN RD STE 2303 CHAN</AddressLine1>
          <City>SHANGHAI</City>
          <Country>CH</Country>
          <PostalCode>200052</PostalCode>
        </AddressForeign>
        <PrimaryActivity>MANAGEMENT CONSULTING AND TRADE SHOW MANAGEMENT.</PrimaryActivity>
        <LegalDomicileForeignCountry>CH</LegalDomicileForeignCountry>
        <TypeOfEntity>C</TypeOfEntity>
        <ShareOfTotalIncome>640972</ShareOfTotalIncome>
        <ShareOfEOYAssets>506716</ShareOfEOYAssets>
        <PercentageOwnership>1.00000</PercentageOwnership>
      </Form990ScheduleRPartIV>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>1</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
    </IRS990ScheduleR>
  </ReturnData>
</Return>