Association of Independent Corrugated Converters (EIN 362812376) - Form 990 Financial Analysis & Trantor Score

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Tuckman-Chang Vulnerability Assessment

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1974

Legal Domicile

Principal Officer

Michael DAngelo

Phone

7035351386

Tax Period

2024-07-01 to 2025-06-30

Association of Independent Corrugated Converters, founded in 1974, is a community nonprofit that reported $4.0M in total revenue in fiscal year 2018. Expenses of $3.8M left a modest 6% surplus.

Mission

Uniting and celebrating the success of inspired, independent packaging companies.

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Trantor Score

Financial Health & Payment Capacity Assessment (FICO Scale: 300–850)

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $5,287,246

Investment Income $253,382

Other Revenue $38,033

TOTAL REVENUE $5,578,661

Expense Breakdown

Grants Paid $1,009,495

Salaries & Benefits $1,408,161

Fundraising Expenses $0

Other Expenses $2,956,474

TOTAL EXPENSES $5,374,130

Year-over-Year Comparison

	2024	2023	Change
Revenue	$5,578,661	$5,182,591	+0.1%
Expenses	$5,374,130	$5,118,137	+0.1%
Net Income	$204,531	$64,454	+2.2%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$323,115

Total Directors

$323,115

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael DAngelo	President	40.00	Officer Director	$289,293	$33,822	$323,115
Taryn Pyle	Director of Training Education	40.00	Highest	$162,795	$12,585	$175,380
Cynthia Noel Huber	Director Conventions & Meetings	40.00	Highest	$160,985	$8,161	$169,146
Virginia Julie Humphrey	Director of Membership & Marketing	40.00	Highest	$129,799	$25,683	$155,482
Laura Mihalick	Senior Meeting Manager	40.00	Highest	$128,097	$6,293	$134,390
Patrick Michael Moore	Membership Services Manager	40.00	Highest	$115,020	$12,305	$127,325
Matt Davis	Immediate Past Chairman	2.00	Director	$0	$0	$0
Finn MacDonald	Director	2.00	Director	$0	$0	$0
Kevin Ausburn	Director	2.00	Director	$0	$0	$0
Casey Shaw	Director	2.00	Director	$0	$0	$0
Stuart Fenkel	Director	2.00	Director	$0	$0	$0
Josh Sobel	Director	2.00	Director	$0	$0	$0
Jack Fiterman	Director	2.00	Director	$0	$0	$0
Eric Elgin	Vice Chairman	2.00	Officer Director	$0	$0	$0
Gary Brewer	Chairman	2.00	Officer Director	$0	$0	$0
Mike Schaefer	Vice Chairman	2.00	Officer Director	$0	$0	$0
Terri-Lynn Levesque	First Vice Chairman	2.00	Officer Director	$0	$0	$0
Joe Morrelli	Vice Chairman	2.00	Officer Director	$0	$0	$0
David Goch	SecretaryGeneral Counsel	2.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$5,578,661	$5,374,130	$6,402,870	$204,531
2024	$5,182,591	$5,118,137	$5,774,522	$64,454
2023	$4,196,098	$4,062,277	$5,682,256	$133,821
2022	$4,599,414	$4,047,435	$5,283,422	$551,979
2021	$3,198,189	$3,778,642	$4,919,561	$-580,453
2020	$3,333,313	$3,422,842	$5,567,302	$-89,529
2019	$4,007,470	$3,761,071	$5,304,368	$246,399

Association of Independent Corrugated Converters