International Colored Gemstone Association
- Assets
- $1.7m
- Revenue
- $340.0k
- Investments
- $0.0
- Employees
- 4
- Location
- New York, NY
- Founding
- 10/1992
- Data as of
- 12/2022
- EIN
- 95-3901200
Organization Overview
International Colored Gemstone Association is located in New York, NY. The organization was established in 1992. According to its NTEE Classification (Q99) the organization is classified as: International, Foreign Affairs & National Security N.E.C., under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, International Colored Gemstone Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. International Colored Gemstone Association 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 12/2022, International Colored Gemstone Association generated $340.0k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $958.3k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE AN UNDERSTANDING AND APPRECIATION OF NATURAL COLORED GEM STONES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE UNDERSTANDING APPRECIATION AND SALE OF NATURAL COLORED GEMSTONES THROUGHOUT THE WORLD VIA TRADE SHOWS, CONFERENCES AND INFORMATION BUREAU IN NEW YORK, EUROPE AND ASIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Captain Ramji Sharma Director | Trustee | 4 | $0 |
Chen Shen Director | Trustee | 2 | $0 |
Saurabh Bansal Director | Trustee | 4 | $0 |
Henry Ho V.P. | OfficerTrustee | 2 | $0 |
Kobi Sevdermish Director | Trustee | 2 | $0 |
Warren Boyd V.P. | OfficerTrustee | 2 | $0 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $339,955 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $339,955 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $87,500 |
| Compensation of current officers, directors, key employees. | $87,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $228,581 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,560 |
| Payroll taxes | $25,201 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,902 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $16,800 |
| Advertising and promotion | $3,903 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $2,826 |
| Travel | $6,085 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,600 |
| Insurance | $10,058 |
| All other expenses | $48,791 |
| Total functional expenses | $958,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $320,763 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $633,327 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,196 |
| Prepaid expenses and deferred charges | $568,680 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $144,242 |
| Other assets | $0 |
| Total assets | $1,670,208 |
| Accounts payable and accrued expenses | $375,120 |
| Grants payable | $0 |
| Deferred revenue | $1,204,991 |
| 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 | $155,563 |
| Total liabilities | $1,735,674 |
| Net assets without donor restrictions | -$65,466 |
| Net assets with donor restrictions | $0 |
| 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 | $1,670,208 |