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← AMERICAN GEM SOCIETY

Form 990 for tax year 2022

Filed by AMERICAN GEM SOCIETY.

Totals

Total revenue
$9,845,838
Total expenses
$5,140,271
Contributions and grants received
$6,204,947
Grants paid
$0
Program service revenue
$2,256,605
Investment income
$451,811
Other revenue
$932,475
Total assets, end of year
$24,522,554
Total liabilities, end of year
$745,906
Net assets or fund balances, end of year
$23,776,648
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $6,204,947

  • 1g · Noncash contributions included above

    $34,615

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $1,520,514 · related or exempt $1,520,514

  • 2b · Program service revenue: MEMBER EVENT REG.

    total $543,723 · related or exempt $543,723

  • 2c · Program service revenue: LABORATORY FEES

    total $106,451 · related or exempt $106,451

  • 2d · Program service revenue: COURSE AND EXAM FEES

    total $85,917 · related or exempt $85,917

  • 3 · Investment income

    total $451,235 · excluded $451,235

  • 6a · Gross rents

    real property $183,315

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $183,315

  • 6d · Net rental income or loss

    total $183,315 · related or exempt $183,315

  • 7a · Gross sales of assets other than inventory

    securities $12,449,000

  • 7b · Less cost or other basis and sales expenses

    securities $12,448,424

  • 7c · Gain or loss

    securities $576

  • 7d · Net gain or loss

    total $576 · excluded $576

  • 11a · Other revenue: AFFINITY CARD

    total $612,115 · excluded $612,115

  • 11b · Other revenue: ADVERTISING

    total $77,979 · unrelated business $77,979

  • 11c · Other revenue: SUBSCRIPTION REVENUE

    total $59,066 · related or exempt $59,066

  • 11e · Other revenue, total

    $749,160

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $634,432

  • 7 · Other salaries and wages

    total $1,407,589

  • 8 · Pension plan contributions

    total $24,871

  • 9 · Other employee benefits

    total $84,897

  • 10 · Payroll taxes

    total $139,413

  • 11b · Fees: legal

    total $33,859

  • 11c · Fees: accounting

    total $50,821

  • 11g · Fees: other

    total $510,683

  • 12 · Advertising and promotion

    total $359,915

  • 13 · Office expenses

    total $178,508

  • 14 · Information technology

    total $71,200

  • 16 · Occupancy

    total $52,780

  • 17 · Travel

    total $72,344

  • 19 · Conferences, conventions and meetings

    total $687,289

  • 20 · Interest

    total $6,285

  • 22 · Depreciation, depletion and amortization

    total $205,331

  • 23 · Insurance

    total $66,006

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $126,148

  • 24b · Other expenses: STRATEGIC PROJECT

    total $85,601

  • 24c · Other expenses: DISPOSAL OF ASSET

    total $59,106

  • 24d · Other expenses: BOARD EXPENSES

    total $44,173

  • 24e · All other expenses

    total $239,020

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,022,424 · end of year $1,214,895

  • 2 · Savings and temporary cash investments

    beginning of year $70,495 · end of year $9,216

  • 4 · Accounts receivable

    beginning of year $697,644 · end of year $198,745

  • 9 · Prepaid expenses and deferred charges

    beginning of year $362,393 · end of year $340,988

  • 10a · Land, buildings and equipment: cost or other basis

    $5,987,032

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,317,565

  • 10c · Land, buildings and equipment, net

    beginning of year $2,957,007 · end of year $2,669,467

  • 11 · Investments: publicly traded securities

    beginning of year $12,537,473 · end of year $19,660,825

  • 14 · Intangible assets

    beginning of year $299,714 · end of year $194,825

  • 15 · Other assets

    beginning of year $155,496 · end of year $233,593

  • 17 · Accounts payable and accrued expenses

    beginning of year $866,698 · end of year $403,895

  • 19 · Deferred revenue

    beginning of year $461,344 · end of year $295,498

  • 25 · Other liabilities

    beginning of year $69,472 · end of year $46,513

  • 27 · Net assets without donor restrictions

    beginning of year $18,696,350 · end of year $18,016,291

  • 28 · Net assets with donor restrictions

    beginning of year $8,782 · end of year $5,760,357

Mission and programs · 2022

Mission

DEDICATED TO CONSUMER PROTECTION, ETHICAL BUSINESS STANDARDS, AND THE DEVELOPMENT OF THE HIGHEST GEMOLOGICAL SKILL, KNOWLEDGE, AND GRADING STANDARDS OF ITS MEMBERSHIP AND CUSTOMERS.

  • AMERICAN GEM SOCIETY LABORATORIES, LLC WAS FOUNDED TO SUPPORT THE AGS MISSION. IT IS A NONPROFIT DIAMOND GRADING LABORATORY WITH A MISSION OF CONSUMER PROTECTION. ADHERING TO THE AGS DIAMOND GRADING STANDARDS, AGS LABORATORIES IS DEDICATED TO OFFERING DIAMOND GRADING REPORTS THAT PROVIDE CONSISTENCY AND ACCURACY BASED ON SCIENCE. AMERICAN GEM SOCIETY LABORATORIES, LLC CEASED OPERATIONS EFFECTIVE 12/31/2022.

  • MEMBERSHIP MAINTAINS THE PROCESSES, STANDARDS AS OUTLINED IN THE AGS MEMBERSHIP MANUAL, MEMBER JOURNEY, AND MEMBERSHIP BENEFIT PROGRAMS.

  • AGS DEVELOPS EDUCATIONAL CONTENT FOR OUR MEMBERSHIP, WHICH THEY CAN USE TO EDUCATE CONSUMERS IN THEIR RESPECTIVE COMMUNITIES, RESULTING IN ENHANCED KNOWLEDGE AND APPRECIATION FOR THEIR PURCHASE AND A DEEPER UNDERSTANDING OF THE JEWELRY INDUSTRY. APPROXIMATELY 700 MEMBERS ATTEND THE ANNUAL EDUCATIONAL CONFERENCE, AND 2,000 COMPLETE EDUCATIONAL COURSES AND PROGRAMS.

As filed on the 2022 return.

Listed in Part VII

  • Katherine Bodoh

    CEO

    Total calculated
    $283,075
    From this org
    $262,028
    From related orgs
    $0
    Other
    $21,047
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,426
    Bonus
    $29,602
    Other
    $0
    Deferred
    $13,598
    Nontaxable benefits
    $7,449
    Filer's total
    $283,075

  • Janice Brooks

    CFO

    Total calculated
    $240,623
    From this org
    $221,945
    From related orgs
    $0
    Other
    $18,678
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $195,663
    Bonus
    $26,282
    Other
    $0
    Deferred
    $11,261
    Nontaxable benefits
    $7,417
    Filer's total
    $240,623

  • Jason Quick

    FORMER LABORATORY EXECUTIVE DIR.

    Total calculated
    $230,687
    From this org
    $214,408
    From related orgs
    $0
    Other
    $16,279
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,710
    Bonus
    $33,698
    Other
    $0
    Deferred
    $9,424
    Nontaxable benefits
    $6,855
    Filer's total
    $230,687

  • Donna Jolly

    DIRECTOR OF MARKETING

    Total calculated
    $131,078
    From this org
    $118,429
    From related orgs
    $0
    Other
    $12,649
    Hours/week
    40

  • Lauren Johansen

    DIRECTOR OF MEMBERSHIP

    Total calculated
    $122,681
    From this org
    $110,393
    From related orgs
    $0
    Other
    $12,288
    Hours/week
    40

  • Greg Tordjman

    SECURITY/IT MANAGER

    Total calculated
    $119,139
    From this org
    $107,109
    From related orgs
    $0
    Other
    $12,030
    Hours/week
    40

  • Lisa Bridge

    PRESIDENT

    Total calculated
    $0
    Hours/week
    2

  • Alexis Padis

    PRESIDENT-ELECT

    Total calculated
    $0
    Hours/week
    2

  • Larry Rickert

    TREASURER/CHAIR FAL COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Bryan Moeller

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • William Farmer Jr

    SENIOR ADVISOR

    Total calculated
    $0
    Hours/week
    2

  • Amanda Coleman-Phelps

    CHAIR: INTERNATIONAL GUILDS COUNCIL

    Total calculated
    $0
    Hours/week
    2

  • David Mazer

    DIRECTOR AT LARGE (STARTED 05/23)

    Total calculated
    $0
    Hours/week
    2

  • Denise Richards

    CHAIR: CONCLAVE SUBCOMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • John Carter

    CHAIR: GEM SCI. COMM./AGSL ADV. COMM.

    Total calculated
    $0
    Hours/week
    2

  • Kevin Mays

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    2

  • Maria Brown

    CHAIR: YT COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Mitchell Clark

    CHAIR:MEMBERSHIP COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Niveet Nagpal

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    2

  • Rick Beckett

    DIRECTOR AT LARGE (UNTIL 03/23)

    Total calculated
    $0
    Hours/week
    2

  • Ryan Berg

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    2

  • Sarah Person

    CHAIR: EDUCATION COMMITTEE

    Total calculated
    $0
    Hours/week
    2

  • Sarin Bachmann

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    2

  • Sumit Dangi

    DIRECTOR AT LARGE

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • JEWELERS EDUCATION FOUNDATION

    501(C)(3) · EDUCATION · NV · controlled entity

    Directly controlled by AMERICAN GEM SOCIETY

  • INTERNATIONAL GUILDS AMERICAN GEM SOCIETY

    501(C)(6) · MEMBERSHIP · PA

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • AGS LAB SERVICES LLC

    LAB OPS · NV · income $106,451 · assets $0

    Directly controlled by AMERICAN GEM SOCIETY

  • AMERICAN GEM SOCIETY LABORATORIES LLC

    GRADING · NV · income $0 · assets $0

    Directly controlled by AMERICAN GEM SOCIETY LAB SERVICES

Provenance

Return type
form_990
Tax year
2022
Filed
11 October 2024
IRS schema version
2022v5.0
Source object
202412869349300021

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