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Nonprofiteer
← INTERNATIONAL CORRUGATED PACKAGING FOUNDATION

Form 990 for tax year 2022

Filed by INTERNATIONAL CORRUGATED PACKAGING FOUNDATION.

Totals

Total revenue
$3,496,085
Total expenses
$743,063
Contributions and grants received
$273,206
Grants paid
$83,450
Program service revenue
$0
Investment income
$3,185,762
Other revenue
$37,117
Total assets, end of year
$16,573,197
Total liabilities, end of year
$72,000
Net assets or fund balances, end of year
$16,501,197
Program services expenses (Part IX)
$395,533
Management and general expenses
$242,720
Fundraising expenses
$104,810
Program service expenses (Part III)
$395,533

Program services were 53.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Dennis Colley

    Director

    Total calculated
    $0
    Hours/week
    1

  • Mike D'Angelo

    Director

    Total calculated
    $0
    Hours/week
    2

  • Tim Bergwall

    Acting Chairman

    Total calculated
    $0
    Hours/week
    1

  • Jack Fiterman

    Director

    Total calculated
    $0
    Hours/week
    1

  • Bryan Hollenbach

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Kelley

    Director

    Total calculated
    $0
    Hours/week
    1

  • John Bird

    Director

    Total calculated
    $0
    Hours/week
    1

  • Douglas A Bosnik

    Director

    Total calculated
    $0
    Hours/week
    1

  • Pete Durrette

    Director

    Total calculated
    $0
    Hours/week
    1

  • Greg Tucker

    Director

    Total calculated
    $0
    Hours/week
    2

  • Jeff Kaser

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Neal McConnellogue

    Director

    Total calculated
    $0
    Hours/week
    1

  • Al Hoodwin

    Director

    Total calculated
    $0
    Hours/week
    1

  • Greg Arvanigian

    Director

    Total calculated
    $0
    Hours/week
    1

  • Gregory V Hall

    Immediate Past Chairman

    Total calculated
    $0
    Hours/week
    1

  • John Lingle

    Director

    Total calculated
    $0
    Hours/week
    1

  • Richard M Flaherty

    President to 10/22

    Total calculated
    $486,785
    From this org
    $442,983
    From related orgs
    $0
    Other
    $43,802
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $172,912
    Bonus
    $51,656
    Other
    $218,415
    Deferred
    $13,500
    Nontaxable benefits
    $30,302
    Filer's total
    $486,785

  • Kim Nelson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Caitlin Salaverria

    President as of 12/22

    Total calculated
    $8,891
    From this org
    $0
    From related orgs
    $0
    Other
    $8,891
    Hours/week
    20

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 7 · Other non-fixed payments

Answered no

  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 4a
The President's contract was not renewed after October 2022, and severence equal to one year of compensation was paid out in October 2022 totalling $218,415.
Part I, Line 7
As part of establishing annual compensation, the Chairman establishes a bonus that can be earned by the President based on various goals and overall performance. The Chairman exercises discretion in determining the total amount of the bonus to be paid at the end of the year based on the President's performance. The Chairman alerts the Executive Committee of his decision and seeks agreement. The 2021 bonus of $25,446 was included in accrued expenses at December 31, 2021 and was paid out in January 2022. The 2022 bonus of $26,210 was paid out in October 2022.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • Virginia Tech

    $40,000

    Research project.

  • University of Florida

    $0

    To develop skilled and knowledgeable students to the meet the workforce needs of the corrugated packaging & displays industry.

Provenance

Return type
form_990
Tax year
2022
Filed
31 August 2023
IRS schema version
2022v5.0
Source object
202342689349300709

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