The I-CAB Foundation Trust Fund is made possible through ongoing utilization of assessments by its corporate partners.
This corporate assessment utilization creates the ability for the foundation to provide one assessment at no cost for each assessment that has been purchased, as well as, covers the costs of question generation, regulatory/court case monitoring, assessment updates and Trust Fund administration. Implementing organizations are automatically allocated a percentage of Trust assessments for use internally where personnel meet the eligibility criteria.
The I-CAB Foundation Trust provides beneficiaries access to the I-CAB Foundation competency assessments at no cost. In order to qualify, applicants must meet one of the following beneficiary criteria:
The intent of the I-CAB Foundation Trust Fund is to provide young workers and/or workers entering, or re-entering the workforce access to competency assessments, as well as to provide employers the ability to accurately hire, place and train new ‘employer representatives’ based on industry specific competencies and associated regulatory expectations.
To apply as a Trust Fund beneficiary, please submit an application as provided below:
Annually, the I-CAB Foundation conducts an audit of the Trust Fund. This consists of a thorough review of audit criteria against several aspects that make up the Trust Fund, including its management and application process. This criteria documentation is then signed and notarized, and presented to the Board upon completion, noting any issues. This year, the audit was successfully completed and notarized, auditing the following aspects: Policy, Procedure, Regulatory Requirements and Financials, Record/Data Storage and Collection, and Objectives and Targets.
Assessments that are not part of the Trust are made available to regulatory bodies in return for feedback on question content as a way to ensure alignment with industry and regulatory expectations. The I-CAB Foundation is a Non-Profit organization established under 501(c)(3) of the United States of America Internal Revenue Code.