The organization was founded February 10, 1922 in Winnipeg, Manitoba by Len Vintus (stage name of Melvin Justus Given McMullen) of Transcona, Manitoba, which would later amalgamate with Winnipeg. Gene Gordon (aka Gordon Avery) of Buffalo, New York, and Don Rogers (aka Ernest Schieldge). Unlike earlier magic clubs, such as the Society of American Magicians (SAM) in the USA and The Magic Circle in England, the I.B.M. was begun by magicians living outside the major cities, who were unable to attend magic club meetings, and who kept in contact by post.
Gene Gordon established the first local group, Ring 1, in Rochester, New York. The original Ring 1 eventually disbanded, and St. Louis, Missouri later assumed the vacated title of Ring 1, which it continues to hold today. Since then, a new club, Ring 4, formed in Rochester.
Ring 96 was chartered on November 15, 1949 and has been going strong ever since.