I-CAR Releases 2023 Impact Report

I-CAR released its 2023 Impact Report titled “Leading Forward,” as stated in a news release.

The report highlights the organization’s key achievements, initiatives, and reinvestments funded by the Industry Impact Fund, a strategic reserve governed by the I-CAR board.

Key highlights from the report include:

Training of 97,419 unique students in 2023, marking a 17.5% increase from the previous year.
Training provided to 12,121 shops, a 6.5% annual increase.
A total of 9,240 Gold Class repair facilities, a 4.4% annual increase, with 33 OEM and insurance network program partners relying on I-CAR training.
Achievement of Platinum status by 36,119 technicians through ProLevel 3 completion and ongoing annual training.
Usage of I-CAR’s education-sector curriculum by 632 Career Technical Schools.
Participation of 57 members in the Sustaining Partner program, which helps support and offset the cost of industry training.
Partnership with 23 Industry Training Alliance Partners, offering I-CAR credit for courses taken with OEMs, suppliers, and other qualified training providers.

The report also details the organization’s reinvestments to support the industry. A healthy reserve, overseen by the board and funded by ongoing retained earnings, is crucial to I-CAR’s operational sustainability. It enables reinvestment in strategic initiatives responsive to industry needs. I-CAR’s reserve levels are governed within not-for-profit best practices for organizations of similar scale and service levels.

The reserves are designed to help weather emergencies or recessionary pressures, provide for necessary capital reinvestments, and support strategic initiatives that directly benefit the industry. This allows I-CAR to self-fund rather than incur debt.

I-CAR has diligently reinvested in strategic initiatives that further industry training outcomes, strategically expand services driven by industry voice, and provide annual support for CREF. These initiatives align with I-CAR’s vision and mission.

Active I-CAR Industry Impact Fund investments include:

Industry Talent Programming: $20.9M over 3 years focusing on attracting, training, and retaining technicians.
I-CAR Technical Center: $7.8M over 2 years advancing emerging technologies and EV/ADAS training in best-in-class facilities.
Advanced Learning Effectiveness: $1.1M over 1.5 years researching emerging technologies to enhance the learning experience and education accessibility.
Recent investments in system enhancements, course updates, and technical support.

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.

For more information about I-CAR’s achievements and financials, visit i-car.com/governance/financials.