Members of ICP's Acquisitions Committee meet three times a year to familiarize themselves with ICP's collection and to assist in the selection of works to be acquired by ICP. At each meeting, the Museum's curators discuss the range of works proposed for purchase, placing them in the context of photography from its beginnings in the nineteenth century to the present day. Members subsequently decide where to direct their Committee contributions. Visits to photographers' studios and private collections follow each meeting.

The Acquisitions Committee is chaired by Anne Ehrenkranz.