2022-11-11T16:25:46-05:00 2021-12-31 412024514 SOMMERVILLE & ASSOCIATES PC 3030 MATLOCK RD STE 201 ARLINGTON TX 760152936 990 2021-01-01 133067918 AMERICAN GEM TRADE ASSOCIATION AMER 2147424367 3030 LBJ FREEWAY SUITE 840 DALLAS TX 75234 ANN BARKER TREASURER 2147424367 2022-11-11 true ANN BARKER 999009999 ELAINE L SOMMERVILLE CPA P00204458 8177955046 2022-11-11 2021 2022-09-23 18:48:47Z JOHN FORD 3030 LBJ FREEWAY SUITE 840 DALLAS TX 75234 1335449 false X WWW.AGTA.ORG X 1981 NY THE MISSION OF THE AGTA IS TO REPRESENT AND FURTHER THE INTERESTS OF THE COLORED GEMSTONE INDUSTRY IN THE U.S. AND CANADA. IT REPRESENTS INDEPENDENT COLORED GEMSTONE SUPPLIERS, MANUFACTURERS, DESIGNERS, AND RETAILERS FOR THE PURPOSE OF PROMOTING NATURALLY OCCURING GEMSTONES. 15 15 8 16 121736 318031 3043893 1014173 682 136 3078 3044575 1335418 0 0 906045 733115 0 0 2024052 973899 2930097 1707014 114478 -371596 1421309 2861638 415197 2211202 1006112 650436 X THE AMERICAN GEM TRADE ASSOCIATION (AGTA) IS AN ASSOCIATION OF UNITED STATES AND CANADIAN TRADE PROFESSIONAL DEDICATED TO PROMOTING THE LONG TERM STABILITY AND INTEGRITY OF THE NATURAL COLORED GEMSTONE AND CULTERED PEARL INDUSTRIES. THE ASSOCIATION PURSUES ITS GOALS THROUGH THE COMBINED USE OF EDUCATIONAL PROGRAMS, PUBLICITY, INDUSTRY EVENTS, GOVERNMENT AND INDUSTRY RELATIONS, AND PRINTED MATERIALS FOR BOTH THE TRADE AND CONSUMER. THE AGTA IS WELL-KNOWN IN THE GEMSTONE AND JEWELERY INDUSTRIES FOR MAINTAINING THE HIGHEST ETHICAL STANDARDS AND IS RECOGNIZED AS THE AUTHORITATIVE SOURCE ON NATURAL COLORED GEMSTONES AND CULTERED PEARLS. false false AMERICAN GEM TRADE ASSOCIATION HOSTS MORE THAN A 1,000 MEMBERS COMMITTED TO ENHANCING AND PROTECTING ALL ASPECTS OF THE COLORED GEM STONE AND CULTURED PEARL INDUSTRY. THE ASSOCIATION LEADS THE INDUSTRY IN THE DEVELOPMENT AND MAINTENANCE OF STANDARDS OF DISCLOSURE, TRANSPARENCY AND ETHICAL PRACTICES. TO PROMOTE THE INDUSTRY, IN 2021 IT PRODUCED TWO TRADE SHOWS IN ADDITION TO HOSTING THE SPECTRUM AWARDS. THE SPECTRUM AWARDS IS THE BENCHMARK FOR DESIGN EXCELLENCE IN THE WORLD OF COLORED GEMSTONES AND CULTURED PEARLS WHERE WINNERS SET THE STANDARDS FOR BEAUTY AND INNOVATION, LAUNCH TRENDS AND EARN WORLD WIDE RECOGNITION. EACH WEEK AN "E" NEWSLETTER IS DISTRIBUTED IN ADDITION TO A PRINT PUBLICATION PRODUCED ONCE DURING 2021 FEATURING ARTICLES RELATED TO THE GEM INDUSTRY AND SHOWCASING THE WINNERS IN THE ANNUAL SPECTRUM AWARDS. false true false true false false false false false true false false false true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false true 4 0 true 8 true true true false false false false false false false X 15 15 false false false false true true true true true false false false true true true true false false false false X JOAN L ALLEN 2147424367 3030 LBJ FREEWAY SUITE 840 DALLAS TX 75234 DOUGLAS HUCKER CEO 40.00 X 185592 0 29174 JOAN L ALLEN CFO 40.00 X 79973 0 15282 RUBEN BINDRA PRESIDENT/DI 1.00 X X 0 0 0 KIM COLLINS 1ST V. PRES/ 1.00 X X 0 0 0 DAVID NASSI 2ND V. PRES/ 1.00 X X 0 0 0 SHEKHAR SHAH TREASURER/DI 1.00 X X 0 0 0 ANN BARKER SECRETARY/DI 1.00 X X 0 0 0 JEFFREY BILGORE PAST PRES/DI 1.00 X 0 0 0 ROHAN AGRAWAL DIRECTOR 1.00 X 0 0 0 JEFF MASON DIRECTOR 1.00 X 0 0 0 ROBERT BENTLEY DIRECTOR 1.00 X 0 0 0 SHIKSHA NAHETA DIRECTOR 1.00 X 0 0 0 RENATA ABRAHAMI DIRECTOR 1.00 X 0 0 0 JOHN BRADSHAW DIRECTOR 1.00 X 0 0 0 NIVEET NAGPAL DIRECTOR 1.00 X 0 0 0 EVAN CAPLAN DIRECTOR 1.00 X 0 0 0 JONATHAN GAD DIRECTOR 1.00 X 0 0 0 265565 44456 1 false true false 318031 318031 TRADE SHOWS REVENUE 541800 431255 431255 MEMBERSHIP DUES 900099 377512 377512 ADVERTISING - PRISM 900099 85158 11122 74036 GEM COMPETITION REVENUE 900099 72548 72548 ADVERTISING - DIRECTORY 541800 43900 43900 3800 3800 1014173 136 136 153 31 122 122 MISCELLANEOUS REVENUE 2956 2956 2956 1335418 892559 121736 3092 310021 284288 3644 94303 40859 32565 31882 108953 153403 133313 35670 83121 28113 226002 45003 52951 READERSHIP COSTS 35582 TAXES 4267 3074 1707014 0 0 0 30482 80851 1111036 2588005 31262 21756 20290 3849 142252 109418 295904 238145 85987 57759 1421309 2861638 102504 97623 139627 2027714 173066 85865 415197 2211202 X 1006112 650436 1006112 650436 1421309 2861638 -371596 15920 X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false 295904 238145 57759 57759 CUSTOMER DEPOSITS 85865 85865 X false false false DOUGLAS HUCKER CEO 185592 1500 27674 214766 FORM 990 - ORGANIZATION'S MISSION THE AMERICAN GEM TRADE ASSOCIATION (AGTA) IS AN ASSOCIATION OF UNITED STATES AND CANADIAN TRADE PROFESSIONAL DEDICATED TO PROMOTING THE LONG TERM STABILITY AND INTEGRITY OF THE NATURAL COLORED GEMSTONE AND CULTERED PEARL INDUSTRIES. THE ASSOCIATION PURSUES ITS GOALS THROUGH THE COMBINED USE OF EDUCATIONAL PROGRAMS, PUBLICITY, INDUSTRY EVENTS, GOVERNMENT AND INDUSTRY RELATIONS, AND PRINTED MATERIALS FOR BOTH THE TRADE AND CONSUMER. THE AGTA IS WELL-KNOWN IN THE GEMSTONE AND JEWELERY INDUSTRIES FOR MAINTAINING THE HIGHEST ETHICAL STANDARDS AND IS RECOGNIZED AS THE AUTHORITATIVE SOURCE ON NATURAL COLORED GEMSTONES AND CULTERED PEARLS. FORM 990, PAGE 2, PART III, LINE 4A AMERICAN GEM TRADE ASSOCIATION HOSTS MORE THAN A 1,000 MEMBERS COMMITTED TO ENHANCING AND PROTECTING ALL ASPECTS OF THE COLORED GEM STONE AND CULTURED PEARL INDUSTRY. THE ASSOCIATION LEADS THE INDUSTRY IN THE DEVELOPMENT AND MAINTENANCE OF STANDARDS OF DISCLOSURE, TRANSPARENCY AND ETHICAL PRACTICES. TO PROMOTE THE INDUSTRY, IN 2021 IT PRODUCED TWO TRADE SHOWS IN ADDITION TO HOSTING THE SPECTRUM AWARDS. THE SPECTRUM AWARDS IS THE BENCHMARK FOR DESIGN EXCELLENCE IN THE WORLD OF COLORED GEMSTONES AND CULTURED PEARLS WHERE WINNERS SET THE STANDARDS FOR BEAUTY AND INNOVATION, LAUNCH TRENDS AND EARN WORLD WIDE RECOGNITION. EACH WEEK AN "E" NEWSLETTER IS DISTRIBUTED IN ADDITION TO A PRINT PUBLICATION PRODUCED ONCE DURING 2021 FEATURING ARTICLES RELATED TO THE GEM INDUSTRY AND SHOWCASING THE WINNERS IN THE ANNUAL SPECTRUM AWARDS. FORM 990, PAGE 6, PART VI, LINE 6 MEMBERS MUST BE PROPOSED AND VOTED UPON. THERE ARE SIX CLASSES OF MEMBERS: CHARTER, FIRM, AFFLILIATE RETAIL, AFFILIATE MEMBER-AT-LARGE, HONORARY, AND STUDENT AFFILIATE. THE BOARD OF DIRECTORS VOTE ON THE QUALIFIED APPLICANTS FOR MEMBERSHIP IN THE CORPORATION. IN ORDER TO BE ELECTED AS A NEW MEMBER OF THE CORPORATION, AN APPLICANT MUST RECEIVE THE POSITIVE VOTE OF AT LEAST A MAJORITY OF A QUORUM OF THE BOARD OF DIRECTORS. UPON AN APPLICANT'S ELECTION AS A NEW MEMBER OF THE CORPORATION, THE BOARD OF DIRECTORS SHALL SPECIFY THE NEW MEMBER'S MEMBERSHIP CLASS. ONLY FIRM MEMBERS POSSESS VOTING RIGHTS. THE PRESIDENT SHALL BE ELECTED BY THE VOTE OF THE FIRM MEMBERS. DIRECTORS SHALL BE ELECTED BY THE FIRM MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7A IN ORDER TO BE ELECTED AS A NEW MEMBER OF THE CORPORATION, AN APPLICANT MUST RECEIVE THE POSITIVE VOTE OF AT LEAST A MAJORITY OF A QUORUM OF THE BOARD OF DIRECTORS. UPON AN APPLICANT'S ELECTION AS A NEW MEMBER OF THE CORPORATION, THE BOARD OF DIRECTORS SHALL SPECIFY THE NEW MEMBER'S MEMBERSHIP CLASS. ONLY FIRM MEMBERS POSSESS VOTING RIGHTS. THE PRESIDENT SHALL BE ELECTED BY THE VOTE OF THE FIRM MEMBERS. DIRECTORS SHALL BE ELECTED BY THE FIRM MEMBERS. FORM 990, PAGE 6, PART VI, LINE 7B ONLY MEMBERS OF THE FIRM CLASS OF MEMBERS POSSESS VOTING RIGHTS. FORM 990, PAGE 6, PART VI, LINE 11B THE FORM 990 IS PREPARED BY AN CERTIFIED PUBLIC ACCOUNTING FIRM. UPON INITIAL COMPLETION, THE RETURN IS PRESENTED TO THE CEO, TREASURER, AND CFO FOR THEIR REVIEW. AFTER MAKING ANY RECOMMENDED CORRECTIONS THE RETURN IS THEN PROVIDED TO THE FINANCE COMMITTEE AND THE EXECUTIVE COMMITTEE FOR THEIR REVIEW AND FINAL APPROVAL FOR FILING WITH THE IRS. THE FINAL RETURN IS PROVIDED TO THE BOARD OF DIRECTORS AT THE NEXT REGULARLY SCHEDULED BOARD MEETING. FORM 990, PAGE 6, PART VI, LINE 12C THIS CONFLICT OF INTEREST POLICY REQUIRES THAT, PRIOR TO THE INITIAL ELECTION OF THE PRESIDENT OR ANY DIRECTOR, AND ANNUALLY THEREAFTER, SUCH DIRECTOR SHALL COMPLETE, EXECUTE AND SUBMIT TO THE SECRETARY OF THE CORPORATION A WRITTEN STATEMENT (I) IDENTIFYING, TO THE BEST OF THE DIRECTOR'S KNOWLEDGE, ANY ENTITY OF WHICH SUCH DIRECTOR IS AN OFFICER, DIRECTOR, TRUSTEE, MEMBER, OWNER (EITHER AS A SOLE PROPRIETOR OR A PARTNER), OR EMPLOYEE AND WITH WHICH THE CORPORATION HAS A RELATIONSHIP, AND ANY TRANSACTION IN WHICH THE CORPORATION IS A PARTICIPANT AND IN WHICH THE DIRECTOR MIGHT HAVE A CONFLICTING INTEREST; AND (II) AFFIRMING THAT THE DIRECTOR (A) HAS READ AND UNDERSTANDS THIS CONFLICTS OF INTEREST POLICY; AND (B) AGREES WITH THE POLICY. IN ADDITION, THE CEO AND EACH COMMITTEE MEMBER OF THE CORPORATION SHALL ANNUALLY COMPLETE, EXECUTE AND SUBMIT TO THE SECRETARY OF THE CORPORATION SUCH WRITTEN STATEMENT. THE SECRETARY SHALL PROVIDE A COPY OF ALL ANNUAL COMPLETED AND EXECUTED STATEMENTS TO THE CHAIR OF THE AUDIT COMMITTEE PRIOR TO THE DATE ON WHICH THE INDEPENDENT AUDITOR COMMENCES THE ANNUAL AUDIT OF THE CORPORATION'S FINANCIAL STATEMENTS. AN INTERESTED PERSON MUST PROMPTLY DISCLOSE IN WRITING TO THE BOARD OF DIRECTORS OR THE RELEVANT COMMITTEE OF THE CORPORATION THE EXISTENCE OF ANY FINANCIAL INTEREST, WHICH SUCH INTERESTED PERSON MAY HAVE OR POSSESS WITH RESPECT TO A TRANSACTION OR ARRANGEMENT THAT IS BEING CONSIDERED BY THE CORPORATION, WHEREUPON THE INTERESTED PERSON SHALL BE GIVEN THE OPPORTUNITY TO DISCLOSE AND SHALL DISCLOSE ALL MATERIAL FACTS REGARDING THE FINANCIAL INTEREST. AN INTERESTED PERSON MAY MAKE A PRESENTATION AT A MEETING OF THE BOARD OF DIRECTORS OR THE RELEVANT COMMITTEE OF THE CORPORATION, BUT FOLLOWING SUCH PRESENTATION THE INTERESTED PERSON SHALL LEAVE THE MEETING DURING THE DISCUSSION OF, AND ANY VOTE ON, THE TRANSACTION OR ARRANGEMENT UNDER CONSIDERATION BY THE CORPORATION. IF APPROPRIATE, THE BOARD OF DIRECTORS OR THE RELEVANT COMMITTEE MAY APPOINT ONE OR MORE DISINTERESTED PERSONS TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING REASONABLE DUE DILIGENCE, THE BOARD OF DIRECTORS OR THE RELEVANT COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED DIRECTORS OR DISINTERESTED COMMITTEE MEMBERS, AS THE CASE MAY BE, WHETHER THE TRANSACTION OR ARRANGEMENT UNDER CONSIDERATION IS IN THE BEST INTEREST OF THE CORPORATION AND FOR ITS OWN BENEFIT AND WHETHER SUCH TRANSACTION OR ARRANGEMENT IS FAIR AND REASONABLE TO THE CORPORATION AND FOLLOWING SUCH VOTE, THE BOARD OF DIRECTORS OR THE RELEVANT COMMITTEE SHALL MAKE ITS DECISION IN CONFORMITY WITH SUCH VOTE WHETHER OR NOT TO ENTER INTO THE TRANSACTION OR ARRANGEMENT. THE VOTES CAST BY EACH DISINTERESTED DIRECTOR OR DISINTERESTED COMMITTEE MEMBER IN ANY VOTE TAKEN PURSUANT TO THIS SECTION 2 OF ARTICLE XVI SHALL BE SPECIFICALLY RECORDED IN THE MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS OR THE RELEVANT COMMITTEE, AS THE CASE MAY BE. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE AVAILABLE TO REVIEW UPON REQUEST AT THE ORGANIZATION'S OFFICE LOCATED AT 3030 LBJ FREEWAY, SUITE 840, DALLAS, TEXAS 75234.