Gemological Institute of America Inc

Analysis

Gemological Institute of America Inc is a registered charity in United States, based in Carlsbad, CA. It received its IRS tax-exemption ruling in November 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Gemological Institute of America Inc reported income of $281.8m and spending of $276.4m, spending 98% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $261.7m to $281.8m (+7.7%), an average of +1.9% a year. The sharpest change came in the year to December 2021, when income rose by 77%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Gemological Institute of America Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include Samford University ($281.6m), University of New England ($282.1m) and Oklahoma State University Foundation ($281.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $6.3m (2.3% of expenses). Other salaries and wages came to $118.2m. At year end it held assets of $715.5m against liabilities of $46.2m, net assets of $669.4m. It reported 1,350 employees.