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        <EOYAmt>8700</EOYAmt>
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      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>0</FSAuditedInd>
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        <CurrentTaxYearMinus2YearsAmt>135481</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>100000</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>100000</CurrentTaxYearAmt>
        <TotalAmt>545481</TotalAmt>
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        <CurrentTaxYearMinus2YearsAmt>135481</CurrentTaxYearMinus2YearsAmt>
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        <CurrentTaxYearAmt>100000</CurrentTaxYearAmt>
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      <GrossInvestmentIncome170Grp>
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        <CurrentTaxYearMinus3YearsAmt>3520</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>985</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>243</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1873</CurrentTaxYearAmt>
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        <DepreciationAmt>1081</DepreciationAmt>
        <BookValueAmt>0</BookValueAmt>
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      <OtherSecuritiesGrp>
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        <MethodValuationCd>F</MethodValuationCd>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>IPEC SHALL HAVE TWO CLASSES OF MEMBERS: REGULAR AND INSTITUTIONAL. THE REGULAR MEMBERS MAY VOTE TO ADMIT ADDITIONAL MEMBERS OR CREATE ADDITIONAL CLASSES OF MEMBERSHIP AND ESTABLISH THE DUTIES AND VOTING RIGHTS THEREOF.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>EACH MEMBER MAY APPOINT ONE DIRECTOR TO SERVE ON THE BOARD OF DIRECTORS. EACH MEMBER MAY AT ANY TIME UPON WRITTEN NOTICE TO IPEC REPLACE ITS DIRECTOR WITH A NEW DIRECTOR. IF THE NUMBER OF DIRECTORS IS GREATER THAN THE NUMBER OF MEMBER DIRECTORS, THE REMAINING DIRECTORS SHALL BE ELECTED BY MEMBERS AS A CLASS TO SERVE FOR A TERM OF ONE YEAR AND UNTIL THEIR SUCCESSORS ARE ELECTED AND QUALIFIED ("AT LARGE DIRECTORS").</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE MEMBERS MAY VOTE TO ADMIT ADDITIONAL MEMBERS OR CREATE ADDITIONAL CLASSES OF MEMBERSHIP AND ESTABLISH THE DUTIES AND VOTING RIGHTS THEREOF.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE DRAFT VERSION OF THE FEDERAL FORM 990 IS REVIEWED BY THE FULL BOARD OF DIRECTORS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>IPEC REGULARLY AND CONSISTENTLY MAINTAINS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. TO MAINTAIN COMPLIANCE, THE BOARD OF DIRECTORS MONITORS CONTRACTS AND OTHER ITEMS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST. ENFORCEMENT OF THE CONFLICT OF INTEREST POLICY INCLUDE REMOVING ALL INTERESTED PERSONS FROM DISCUSSIONS OF TRANSACTIONS WITH POTENTIAL CONFLICTS, BUT EACH POTENTIAL CONFLICT IS HANDLED ON A CASE-BY-CASE BASIS USING THE DISCRETION OF THE BOARD OF DIRECTORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>IPEC'S FEDERAL FORM 990 IS PROVIDED TO THE PUBLIC UPON REQUEST. IPEC ALSO MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>CONSULTING SERVICES: PROGRAM SERVICE EXPENSES 96,600. MANAGEMENT AND GENERAL EXPENSES 24,754. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 121,354.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
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</Return>
