Jewelers Of America Inc
- Assets
- $66.8m
- Revenue
- $5.3m
- Investments
- $22.4m
- Employees
- 22
- Location
- New York, NY
- Founding
- 02/1977
- Data as of
- 09/2023
- EIN
- 53-0246294
Organization Overview
Jewelers Of America Inc is located in New York, NY. The organization was established in 1977. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 09/2023, Jewelers Of America Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jewelers Of America Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 09/2023, Jewelers Of America Inc generated $5.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.3%) each year. All expenses for the organization totaled $5.1m during the year ending 09/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE CONSUMER CONFIDENCE IN THE JEWELRY INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ADVOCACY:SINCE 1906, JEWELERS OF AMERICA, INC. (JA) HAS BEEN ADVANCING THE FINE JEWELRY INDUSTRY THROUGH ADVOCACY IN PUBLIC, GOVERNMENT, AND INDUSTRY AFFAIRS; AND HAS BEEN THE LEADER IN THE DEVELOPMENT OF HIGH ETHICAL, SOCIAL, AND ENVIRONMENTAL STANDARDS AMONG THE RETAIL JEWELRY TRADE. THE ASSOCIATION REPRESENTS ITS MEMBERS AND THE FINE JEWELRY INDUSTRY, IN WASHINGTON, D.C. AS WELL AS ON INTERNATIONAL PLATFORMS. JA KEEPS MEMBERS INFORMED WITH TOOLS AND GUIDANCE ON ISSUES THAT COULD AFFECT THE JEWELRY INDUSTRY.IN 2023 JA MADE SIGNIFICANT STRIDES TO SUPPORT THE JEWELRY INDUSTRY BETTER. JA CONTINUED THE 20 UNDER 40 PROGRAM, RECOGNIZING YOUNG RETAIL PROFESSIONALS WHO HAVE MADE SIGNIFICANT CONTRIBUTIONS TO THE FINE JEWELRY WORLD. JA PROVIDED A PLATFORM WHERE A SUCCESSFUL YOUNG PROFESSIONAL CAN SHARE THEIR KNOWLEDGE AND INSIGHT WITH INDUSTRY MEMBERS AT SHOWS AND VARIOUS ONLINE SEMINARS.JA LED A DELEGATION OF MEMBERS AND INDUSTRY REPRESENTATIVES TO CAPITOL HILL AND MET WITH REPRESENTATIVES OF THE GOVERNMENT WHO EFFECTUATE CHANGE THAT IS BENEFICIAL TO THE INDUSTRY. JA SUCCESSFULLY HOSTED ITS AWARD SHOW, GEM AWARDS, WHICH BRINGS TOGETHER HUNDREDS OF PROFESSIONALS TO CELEBRATE THE JEWELRY INDUSTRY AND HONOR THOSE THAT HAVE MADE SIGNIFICANT CONTRIBUTIONS.
MEMBER BENEFITS:IN ADDITION TO ADVOCACY, JEWELERS OF AMERICA, OFFERS MEMBERS BENEFITS INCLUDING BUSINESS RESOURCES, MARKETING TOOLS, DISCOUNT PROGRAMS, EDUCATION SCHOLARSHIPS, AND CERTIFICATION OPPORTUNITIES. THE MEMBER BENEFITS, ACCESSIBLE THROUGH THE ASSOCIATION'S WEBSITE, WWW.JEWELERS.ORG, HELP MEMBERS SAVE MONEY, IMPROVE OPERATIONS AND BUILD BUSINESS.IN 2023 JA MAINTAINED ITS BENEFIT PROGRAM PLATFORM THAT ALLOWS CUSTOMERS TO DIGITALLY COMMUNICATE WITH MEMBERS, INCLUDING SENDING IMAGES AND TRANSACTIONS FROM THEIR BUSINESS PHONE NUMBERS.
EDUCATION:JEWELERS OF AMERICA WORKS HARD TO EDUCATE CONSUMERS ABOUT FINE JEWELRY AND WORKS ON BEHALF OF THE ENTIRE INDUSTRY TO PROMOTE AND CREATE DEMAND FOR FINE JEWELRY AND WATCHES. THROUGH THE USE OF PUBLIC RELATIONS, MARKETING, SOCIAL MEDIA, AND A CONTENT-RICH WEBSITE, JEWELERS OF AMERICA COMMUNICATES WITH CONSUMERS ABOUT FINE JEWELRY GIFT GIVING, TRENDS, SAVVY SHOPPING TIPS, AND THE IMPORTANCE OF SHOPPING WITH A JEWELERS OF AMERICA-MEMBER STORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Coleman Clark Chair | OfficerTrustee | 1 | $0 |
Matthew Rosenheim Chair Elect | OfficerTrustee | 1 | $0 |
Steve Padis Vice Chair | OfficerTrustee | 1 | $0 |
Elise Greenberg Vice Chair | OfficerTrustee | 1 | $0 |
Karen Goracke Treasurer | OfficerTrustee | 1 | $0 |
Steve Velasquez Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
42nd Street Lessee Llc Banquet Hall Facilities | 9/29/23 | $159,241 |
Haake & Associates Legislative/lobbying | 9/29/23 | $116,296 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $50,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $50,000 |
| Total Program Service Revenue | $1,712,394 |
| Investment income | $2,452,818 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $439,065 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $512,411 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,341,295 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,743 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $880,107 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,291,102 |
| Pension plan accruals and contributions | $99,756 |
| Other employee benefits | $266,057 |
| Payroll taxes | $145,491 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $14,796 |
| Fees for services: Accounting | $43,154 |
| Fees for services: Lobbying | $95,796 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $191,886 |
| Fees for services: Other | $526,692 |
| Advertising and promotion | $21,353 |
| Office expenses | $311,468 |
| Information technology | $137,862 |
| Royalties | $0 |
| Occupancy | $369,510 |
| Travel | $102,704 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,736 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32,633 |
| Insurance | $44,605 |
| All other expenses | $0 |
| Total functional expenses | $5,125,054 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $380,618 |
| Savings and temporary cash investments | $396,613 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,034,198 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,006 |
| Prepaid expenses and deferred charges | $197,530 |
| Net Land, buildings, and equipment | $94,721 |
| Investments—publicly traded securities | $39,335,584 |
| Investments—other securities | $22,374,391 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,967,003 |
| Total assets | $66,785,664 |
| Accounts payable and accrued expenses | $586,326 |
| Grants payable | $0 |
| Deferred revenue | $442,799 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,536,045 |
| Total liabilities | $2,565,170 |
| Net assets without donor restrictions | $64,167,394 |
| Net assets with donor restrictions | $53,100 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $66,785,664 |