Gemological Institute Of America Inc
- Assets
- $676.7m
- Revenue
- $291.1m
- Investments
- $0.0
- Employees
- 1,417
- Location
- Carlsbad, CA
- Founding
- 11/1998
- Data as of
- 12/2022
- EIN
- 95-3797687
Organization Overview
Gemological Institute Of America Inc is located in Carlsbad, CA. The organization was established in 1998. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2022, Gemological Institute Of America Inc employed 1,417 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gemological Institute Of America Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Gemological Institute Of America Inc generated $291.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $301.5m during the year ending 12/2022. While expenses have increased by 5.7% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Gemological Institute Of America Inc has awarded 139 individual grants totaling $7,700,059. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR ORGANIZATION MISSION STATEMENT.
Describe the Organization's Program Activity:
EDUCATION: SEE SCHEDULE O FOR DESCRIPTION OF EXEMPT PURPOSE ACHIEVEMENTS.
LABORATORY: SEE SCHEDULE O FOR DESCRIPTION OF EXEMPT PURPOSE ACHIEVEMENTS.
RESEARCH & PUBLICATIONS: SEE SCHEDULE O FOR DESCRIPTION OF EXEMPT PURPOSE ACHIEVEMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Jacques President/ceo | OfficerTrustee | 39 | $936,257 |
Thomas Moses Executive VP | OfficerTrustee | 39 | $912,048 |
Dione D Kenyon Governor (thru 11/2022) | Trustee | 7 | $43,202 |
Thomas Insley Governor (thru 11/2022) | Trustee | 6 | $39,702 |
Barbara Sawrey Governor (thru 11/2022) | Trustee | 5 | $35,202 |
Barbara Dutrow Governor | Trustee | 5 | $35,000 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gia Hong Kong Laboratory Limited Grading Services | 12/30/22 | $17,504,053 |
Us International Media Llc Advertising Services | 12/30/22 | $7,523,778 |
Gia Belgium Nv Grading Services | 12/30/22 | $5,591,317 |
Tata Consultancy Services Limited It Services | 12/30/22 | $5,995,024 |
Dla Piper Llp Us Legal Services | 12/30/22 | $2,750,715 |
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 | $554,874 |
| Noncash contributions included in lines 1a–1f | $554,574 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $554,874 |
| Total Program Service Revenue | $167,292,747 |
| Investment income | $26,957,007 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $90,426,716 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,774,636 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,633,349 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $291,055,082 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,697,522 |
| Grants and other assistance to domestic individuals. | $924,049 |
| Grants and other assistance to Foreign Orgs/Individuals | $298,924 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,502,804 |
| Compensation of current officers, directors, key employees. | $2,675,920 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $114,193,881 |
| Pension plan accruals and contributions | $8,607,523 |
| Other employee benefits | $18,644,520 |
| Payroll taxes | $9,031,698 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,068,210 |
| Fees for services: Accounting | $1,411,735 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,355,254 |
| Fees for services: Other | $33,667,645 |
| Advertising and promotion | $14,693,909 |
| Office expenses | $18,626,816 |
| Information technology | $27,459,463 |
| Royalties | $50,000 |
| Occupancy | $5,600,084 |
| Travel | $2,721,059 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,759,820 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,683,913 |
| Insurance | $1,660,168 |
| All other expenses | $894,838 |
| Total functional expenses | $301,469,731 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $31,892,120 |
| Savings and temporary cash investments | $52,122,842 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $18,476,071 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $7,521,450 |
| Inventories for sale or use | $4,521,329 |
| Prepaid expenses and deferred charges | $8,246,094 |
| Net Land, buildings, and equipment | $126,585,398 |
| Investments—publicly traded securities | $362,270,343 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $65,033,248 |
| Total assets | $676,668,895 |
| Accounts payable and accrued expenses | $12,357,562 |
| Grants payable | $0 |
| Deferred revenue | $4,100,269 |
| 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 | $40,870,458 |
| Total liabilities | $57,328,289 |
| Net assets without donor restrictions | $599,116,102 |
| Net assets with donor restrictions | $20,224,504 |
| 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 | $676,668,895 |
Grants Awarded
Over the last fiscal year, Gemological Institute Of America Inc has awarded $5,692,522 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
VARIOUS LAW ENFORCEMENT AGENCIES PURPOSE: SUPPORT LAW ENFORCEMENT FUNCTION OF REDUCING THEFT, FRAUD & MISREPRESENTATION | $85,681 |
AMERICAN GEM SOCIETY PURPOSE: AGS CONCLAVE | $75,000 |
AMERICAN GEM SOCIETY PURPOSE: SUPPORT GEM LAB CLASS DELIVERY | $34,841 |
AMERICAN GEM SOCIETY PURPOSE: GEMOLOGY EDUCATION ENDOWMENT | $5,000,000 |
AMERICAN GEM SOCIETY PURPOSE: SUPPORT EDUCATION OF NON-PROFIT STAFF FOR ORGANIZATIONS WITH COMPLEMENTARY MISSIONS | $9,100 |
PACT INC PURPOSE: SUPPORT EDUCATION OF ARTISANAL MINERS IN GEM MINING COMMUNITIES | $215,525 |