The Barter Hall of Fame is the highest honor the Modern Trade and Barter Industry can bestow. The honor recognizes individuals of the highest professional character and ethical conduct who are regarded as indisputable leaders of the Modern Trade and Barter Industry. An inductee must have a minimum of ten years of continuous Industry service and have made recognizable and specific contributions to the Industry as a whole.

Current members of the Barter Hall of Fame

Don Mardak Receives the 2009 Barter Hall of Fame Award at IRTA's 30th Annual International Convention in Dallas, Texas, October 3rd, 2009

Donald F. Mardak

Chairman of the Board, President, CEO

International Monetary Systems, Ltd. (IMS)

www.imsbarter.com Stock Symbol: ITNM.OB

Don Mardak

Donald F. Mardak has been the Chief Executive Officer, President, and a director of IMS since 1989. From 1970 to 1974, Mr. Mardak was a partner in Learning Unlimited, a division of Hal Leonard Publishing Corp. In 1974, he founded Don Mardak Piano & Organ Centers, Ltd., a chain of retail piano and organ stores in the Greater Milwaukee Area. In 1985, Mr. Mardak founded the Continental Trade Exchange barter network under the name "Continental Trading Company," a sole proprietorship. Continental Trading Company was incorporated in 1988 as Continental Trade Exchange, Ltd., and is now the primary operating subsidiary. Mr. Mardak has served two terms as president of the National Association of Trade Exchanges (NATE) in 1995-96 and again in 1999-2000 and currently serves on the Board of Directors for the International Reciprocal Trade Association (IRTA).

Accordion Champ to CEO...

Today, IMS is one of the largest full-service, membership-based trading networks in the United States currently serving 50 markets. But Mardak’s first brush with fame occurred as a teenager, when he was crowned Wisconsin’s accordion champ. At 20, he partnered with the state’s #2 player and opened The Accordion School of Champions. But when Beatle-mania hit, the accordion became obsolete.

Mardak nimbly transitioned, teaching himself the electronic organ. He began selling organs, and then wrote the first easy-to-play method. Suddenly, huge manufacturers like Hammond and Baldwin were clamoring for it and he found himself in the music publishing business.

He and his brother convinced Hal Leonard Publishing—now the largest U.S. music publishing company—to open a division in Milwaukee. While his brother would stay on to become CEO, Mardak left four years later to open an organ store. But history repeated itself in the 1980s, as organs were edged out by computerized keyboards. So, in his first barter transaction, Mardak traded the retail store for real estate and used his investment to launch his barter career.

The First National Bartering Network

In 1985, Mardak founded CTE - Continental Trade Exchange - a modest barter organization located in the Milwaukee area. His business model: go door-to-door signing up local businesses, exchanging merchandise for trade certificates. His office: the trunk of his car. His showroom: the family garage. At night, his wife Judy—who remains involved in the management of the business—would type the day’s certificates.

Initially, the business was small. But in 1989, they made their first acquisition, a small trade association in Green Bay.  “It was a revelation for me,” recalls Mardak. “I spent four years growing our business to 300 members, then doubled our size with the stroke of a pen.”

Shortly thereafter, he created a holding company, International Monetary Systems, Inc. (IMS). His thinking behind the then-grandiose name: “I didn’t want to be perceived as just a barter network. I wanted room to expand.”

Capitalizing on the fragmented market, Mardak has since acquired more than 20 other trade exchanges, creating a first-of-its-kind national bartering network. Today, IMS spans 18 states, from New York to California, and includes Toronto, Canada.

A Publicly-Traded Trading Company

In 2000, Mardak did the unheard of, making an initial public stock offering, making IMS one of two publicly-traded barter exchanges. IMS trade on the OTBB under stock symbol ITNM.

Today, IMS has more than 17,000 members, a national broker network, a national sales team, and an annual trading volume of more than $114M. Through strategic acquisitions and aggressive enrollment practices, IMS has grown to be the largest single exchange network in the U.S.