By Mauricio Minotta

GIA has received a $1 million anonymous gift toward its Endowment Fund to benefit the Institute’s ongoing research and education efforts. The donation came in September 2002, just prior to the official launch of the Campaign at the League of Honor Founders Dinner in New York City.

“We are extremely grateful for this anonymous gift because it not only brings GIA one step closer to the Endowment Campaign’s $75 million goal, but ensures the Institute will continue to strengthen the gem and jewelry industry by providing its very valuable services for many years to come,” said Linda Ellis, GIA’s chief Development officer.

The GIA Endowment Fund was created to provide a continuous source of income to fund the Institute’s cutting edge research, technology, education and alumni services.

Valued at $33.7 million to date, all financial contributions to the Fund are invested and not spent. Instead, the money is placed in a permanent account and the interest it earns goes toward financing GIA’s programs. Donors can also designate their gift for specific areas within the general Endowment Fund.

As a charitable, non-profit organization, GIA relies heavily on tax-deductible donations to continue its mission to provide programs and services to the industry and ensure the public trust.