[2] The first ILC event was held in July 2007, at the Beverly Hilton Hotel, with about 80 Israeli-American business leaders, featuring Los Angeles Mayor Antonio Villaraigosa and Danoch.

The ILC's first board was co-chaired by Alpert and Tene, and included Milstein, Erdman, Marmour, Saidoff, Shawn Evenhaim, Yossi Rabinovitz, and Nissan Pardo.

They set the organization's "three pillars" of engagement: to strengthen future generations of Israeli-Americans, the American Jewish community and the State of Israel.

[9] Funded by Miriam and Sheldon Adelson, the organization launched an expansion plan to create regional councils across the United States.

[18] Leadership National officers:[22] Major funders of IAC are billionaire and pro-Israel philanthropist Sheldon Adelson, who has contributed millions to the organization,[24] and Haim Saban.

[25] In 2014, IAC began hosting annual national conferences,[28] featuring American and Israeli politicians and business leaders.

[30][31][32] During an on-stage discussion about the Palestinian issue between IAC's two megadonors, Saban and Adelson, the former insisted on the two-state solution to keep Israel both Democratic and Jewish.

Speakers included Vice President Mike Pence, Senator Chuck Schumer (D-NY), House Democratic Leader, Nancy Pelosi (D-CA), Speaker of the Israeli Knesset Yuli Edelstein, Israel's Justice Minister Ayelet Shaked, and Israeli-American businessmen such as Marius Nacht and Maya Prosor.

[citation needed] U.S. President Donald Trump spoke at IAC's sixth national conference in December 2019.