Diamond Empowerment Fund Inc
- Assets
- $761.7k
- Revenue
- $749.8k
- Investments
- $0.0
- Employees
- 2
- Location
- New York, NY
- Founding
- 12/2007
- Data as of
- 12/2021
- EIN
- 20-5967103
Organization Overview
Diamond Empowerment Fund Inc, operating under the name Diamonds Do Good, is located in New York, NY. The organization was established in 2007. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, Diamonds Do Good employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Diamonds Do Good 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 12/2021, Diamonds Do Good generated $749.8k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $790.0k during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE "DIAMOND EMPOWERMENT FUND" MISSION IS TO SUPPORT INITIATIVES THAT DEVELOP AND EMPOWER PEOPLE IN DIAMOND COMMUNITIES WORLDWIDE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT INITIATIVES THAT PROVIDE YOUTH IN DIAMOND PRODUCING NATIONS WITH ACCESS TO HIGH-QUALITY EDUCATION, SKILL-BUILDING, AND VOCATIONAL TRAINING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Orem Lyman Executive Director & V.P. | Officer | 40 | $151,579 |
Yancy Smith Treasurer | OfficerTrustee | 3 | $0 |
Kathy Corey Vice President | OfficerTrustee | 3 | $0 |
Anna Martin President | OfficerTrustee | 3 | $0 |
Lita Asscher Board Member | Trustee | 3 | $0 |
Debbie Azar Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $75,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $25,306 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $100,906 |
| Total Program Service Revenue | $0 |
| 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 | $648,935 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $749,841 |
| 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 | $338,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $151,579 |
| Compensation of current officers, directors, key employees. | $15,158 |
| Compensation to disqualified persons | $64,429 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $30,998 |
| Payroll taxes | $20,273 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,810 |
| Fees for services: Accounting | $7,310 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,400 |
| Advertising and promotion | $102,585 |
| Office expenses | $6,153 |
| Information technology | $20,088 |
| Royalties | $0 |
| Occupancy | $1,366 |
| Travel | $6,582 |
| 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 | $2,638 |
| Insurance | $6,497 |
| All other expenses | $0 |
| Total functional expenses | $790,030 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $707,029 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $27,500 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,915 |
| Prepaid expenses and deferred charges | $1,685 |
| Net Land, buildings, and equipment | $15,571 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $761,700 |
| Accounts payable and accrued expenses | $69,609 |
| Grants payable | $45,000 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $114,609 |
| Net assets without donor restrictions | $634,384 |
| Net assets with donor restrictions | $12,707 |
| 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 | $761,700 |
Grants Awarded
Over the last fiscal year, Diamond Empowerment Fund Inc has awarded $152,500 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: GENERAL SUPPORT FOR THE ORGANIZATION'S CHARITABLE MISSION | $122,500 |
PURPOSE: GENERAL SUPPORT FOR THE ORGANIZATION'S CHARITABLE MISSION GENERAL SUPPORT FOR THE ORGANIZATION'S CHARITABLE MISSION. | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Diamond Empowerment Fund Inc has recieved totaling $15,005.
| Awarding Organization | Amount |
|---|---|
Gemological Institute Of America Inc Carlsbad, CA PURPOSE: SUPPORT EDUCATION OF ARTISANAL MINERS IN GEM MINING COMMUNITIES | $15,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Abrahams Blessing Albany, NY | $1,941,159 | $28,861,670 |
Planet Aid Inc Milford, MA | $17,464,781 | $29,818,126 |
Wateraid America Inc New York, NY | $16,422,746 | $24,856,015 |
Christian Relief International Lancaster, PA | $46,193,710 | $37,368,118 |
Tov Vchesed Foundation Inc Monsey, NY | $610,324 | $14,594,457 |
Kolel Shomre Hachomos Of Jerusalem Inc Brooklyn, NY | $8,417,391 | $12,158,295 |
Marys Meals Usa Inc Bloomfield, NJ | $3,234,334 | $9,784,357 |
We Charity Williamsville, NY | $15,990,436 | $8,510,977 |
Big Heart Foundation Inc Clifton, NJ | $8,754,377 | $8,531,455 |
Grassroots International Inc Boston, MA | $13,759,969 | $12,517,391 |
Afsnc Inc New York, NY | $3,029,853 | $9,756,195 |
Alima Usa Inc New York, NY | $6,341,096 | $6,115,397 |