Industry-Driven Reinvestment Highlights
I‑CAR's Industry Impact Fund is a strategic reserve component governed by the I‑CAR Board for the industry's benefit. These reinvestments have contributed to I‑CAR's strong financial position, enabling the organization to continue providing valuable training and services to the collision repair industry. I‑CAR is committed to leading the industry forward with excellence in training, technical information, and collaboration in a dynamic environment impacted by increasing repair complexity and challenges recruiting technicians.
I‑CAR Industry Impact Fund Currently at Work
Talent Programming Initiative
$20.9M over 3 years
I‑CAR is committed to attracting, training, and retaining technicians that will fuel the future of the industry. We're collaborating from a marketing perspective to better position the industry, working to implement shop-approved training solutions, and providing schools with next-level programming to train tomorrow's technicians.
I‑CAR Technical Center
$7.8M over 2 years
The I‑CAR Chicago Technical Center (CTC) is an investment in leading the industry forward in advances, such as and EVs and ADAS. The CTC gives I‑CAR incremental capabilities to experiment and innovate, and augments our Appleton, WI, training center. Together they create best-in-class training centers accessible for the industry's use.
Advanced Learning Effectiveness
$1.1M over 1.5 years
The I‑CAR Chicago Technical Center (CTC) is an investment in leading the industry forward in advances, such as and EVs and ADAS. The CTC gives I‑CAR incremental capabilities to experiment and innovate, and augments our Appleton, WI, training center. Together they create best-in-class training centers accessible for the industry's use.
2023 I‑CAR Impact Report
Explore I‑CAR's key achievements, initiatives, and reinvestments. The report demonstrates I‑CAR's continued commitment to leading the industry forward with excellence in training, technical information, and collaboration in a dynamic environment impacted by increasing repair complexity and challenges recruiting technicians.
Re-investments to Support the Industry
A healthy reserve with Board oversight, funded by ongoing retained earnings, is vital to I‑CAR's ongoing operational sustainability while enabling reinvestment in strategic initiatives responsive to industry needs. I‑CAR reserve levels are governed within not-for-profit best practices for organizations with similar scale of operations and service levels. Reserves are there to help weather emergencies or recessionary pressures, provide for necessary capital reinvestments and to support strategic initiatives that directly support industry needs, allowing I‑CAR to self-fund versus incurring debt. I‑CAR has diligently re-invested in strategic initiatives that further industry training outcomes, strategically expand services driven by industry voice, and annual support for CREF, all geared to create industry benefits that align with I‑CAR's vision and mission.
Recent Industry Impact Fund Projects
Learning Management System and myI‑CAR Enhancements
$4.4M over 3.5 years
These key systems enhanced and expanded online training accessibility, totaling over 350 courses today, and related customer support systems.
PDP 2.0 Courses
$2.4M over 1 year
All courses were updated in 2019, with a shift to more web-based learning, which offers efficiencies to learners and their organizations, including Spanish versions.
Repairability Technical Support
$1M over 2 years
All courses were updated in 2019, with a shift to more web-based learning, which offers efficiencies to learners and their organizations, including Spanish versions.
Financial Recap
For the year ended 12/31/2023
| Revenue | $72M |
|---|---|
| Direct Expense | $17M |
| Operating Expense | $45M |
| Operating Income | $11M |
| Investment Income | $9.3M |
| CREF Donations | ($271K) |
| Industry Impact Fund Initiatives | ($8M) |
| Net Income | $12M |
Reserves Recap
For the year ended 12/31/2023
| Operating Fund | $48M |
|---|---|
| Industry Impact Fund | $47M |
| Total Reserves | $95M |
Questions About I‑CAR Financials?
If you have a questions or would like to request a copy of I‑CAR’s Form 990, complete the form below and an I‑CAR Representative will assist.