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DIAMOND DEALERS CLUB INC
NEW YORK, NY · EIN 130632945 · Form 990 · FY2024 · Small ($100K-$1M) · nyddc.com
revenue
$311K
expenses
$334K
net assets
$5.8M
employees
7
program ratio
0%
mission · from form 990

DIAMOND INDUSTRY TRADE ASSOCIATION

profile · synthesized from sources

The Diamond Dealers Club of New York is a trade association and diamond exchange founded in 1931 to support the interests of diamond and jewelry professionals. It provides a secure trading floor, arbitration services, and networking opportunities for its members, while promoting ethical standards in the industry. The organization is based in New York City and plays a key role in the global diamond trade through its affiliation with the World Federation of Diamond Bourses.

irs program accomplishments · form 990 part iii · fy2024

What they reported doing

  1. #1 primary $0
    public relations
named programs · 4 · from sources

What they call their work

Arbitration Services
Offers a neutral dispute resolution mechanism for members, with decisions enforceable by the New York State Supreme Court
Educational & Professional Enrichment Programs
Provides complimentary seminars, trade education classes, and guest speaker meetings for members
Trading Floor Operations
Provides a 17,000 square-foot physical and secure online platform for members to buy and sell diamonds and jewelry in New York City
World Federation of Diamond Bourses Engagement
Hosts international meetings and participates in global governance of the diamond trade through affiliation with the WFDB
activities · 5 groups

What they do

  • Jewelry and Gemstone Industry Advancement 3 activities
    • Conducts public relations and advocacy for the diamond industry
      Engages in public relations activities to promote the diamond industry and hosts the Diamond Industry Steering Committee (DISC), an umbrella organization that unifies four major New York diamond trade associations to strengthen collective advocacy.
    • Enables global bourse access through membership affiliation
      Grants members automatic affiliation with the World Federation of Diamond Bourses, providing access to 29 affiliated bourses worldwide and expanding international trading opportunities.
    • Hosts international diamond trade conferences and meetings
      Organizes and hosts major international gatherings such as the World Federation of Diamond Bourses Presidents' Meetings and biennial congresses, including events in 1964, 1982, 2004, and the 2025 Presidents' Meetings. These events bring together global industry leaders to discuss trade and policy matters.
  • Professional Certification and Continuing Education 1 activity
    • Delivers trade education and professional development programs
      Offers complimentary seminars, trade education classes, and guest speaker meetings to members, supporting ongoing learning and industry engagement.
  • Union and Member Organization Facility Operations 1 activity
    • Facilitates diamond and jewelry trading through physical and online platforms
      Operates a 17,000 square-foot trading floor in New York City at 50 West 47th Street and provides a secure online trading platform for members to buy and sell diamonds and jewelry. The organization maintains the physical infrastructure and digital systems necessary for active trading.
  • Professional Membership and Association Benefits 1 activity
    • Offers membership benefits and support services
      Provides corporate and senior membership categories, a free mailing address at 50 West 47th Street, access to private office facilities with internet, telephone, fax, and computer use, and maintains a newsletter for members and stakeholders.
  • Alternative Dispute Resolution Standards & Accreditation 1 activity
    • Provides arbitration services for industry dispute resolution
      Offers a formal arbitration system to resolve business disputes among members and enables members to subject non-members to arbitration through standardized contractual clauses, supporting trust and accountability in diamond and jewelry trade.
financials · form 990 · fy2024
revenue
Total revenue$311K
Contributions & grants$272K87%
Program service revenue$00%
Investment income$39K13%
Other revenue$0
expenses
Total expenses$334K
Program expenses0%
Admin / overhead100%
Fundraising0%
Salaries & benefits$142K
Grants paid out$0
Largest expense lineCompensation
balance sheet
Total assets$5.99M
Cash$833K
Investments$0
Liabilities$236K
Net assets$5.76M
Liquid reserves29.9 mo
3 years on record · 2020–2024 · YoY revenue +0.7%
leadership · form 990 part vii · fy2024

Who runs it

board members · 16
  • ABRAHAM FASTAG — Director
  • ELI ISSER FRUCHTER — Director
  • ELIE EDALATI — Director
  • ELLIOT KRISCHER — President
  • HAIM AHARONOFF — Director
  • ISHAY BEN-DAVID — Director
  • ISRAEL KORNBLUH — Director
  • MICHAEL STEINMETZ — Director
  • RAVI JARGAD — Director
  • ROBERT MOSKOVITZ — Vice President
  • SANJEEV JAIN — Director
  • SOLOMON COHEN — Director
  • STUART SAMUELS — Treasurer
  • SUDHEN MEHTA — Director
  • SUSHIL GOYAL — Secretary
  • YEKUTIEL DAVIDOV — Director
relationships · 21

Who they work with

  • Adam Small Partner — Managing Director/General Counsel providing management and legal oversight.
  • Bangkok Diamond and Precious Stones Exchange Network — Eli Izhakoff listed as honorary officer, indicating formal affiliation.
  • Bharat Diamond Bourse Partner — Gold sponsor of the 2025 World Federation of Diamond Bourses Presidents' Meetings hosted by DDC.
  • Consul General of Israel Government — Represented by Ambassador Ofir Akunis at the celebration for the Sefer Torah dedication.
  • DELGATTO Diamond Finance Fund Partner — Diamond sponsor of the 2025 World Federation of Diamond Bourses Presidents' Meetings hosted by DDC.
  • DIDGC Partner — Gold sponsor of the 2025 World Federation of Diamond Bourses Presidents' Meetings hosted by DDC.
  • DMCC (Dubai Multi Commodities Centre) Partner — Gold sponsor of the 2025 World Federation of Diamond Bourses Presidents' Meetings hosted by DDC.
  • Diamond Industry Steering Committee Partner — Initiated and chaired by Eli Izhakoff as an umbrella body for New York diamond trade associations.
  • GET-Diamonds.com Partner — Gold sponsor of the 2025 World Federation of Diamond Bourses Presidents' Meetings hosted by DDC.
  • GIA (Gemological Institute of America) Partner — Gold sponsor of the 2025 World Federation of Diamond Bourses Presidents' Meetings hosted by DDC.
  • Glueup Partner — Powered by Glueup's platform technology
  • India Diamond Week Network — Hosted and participated in the India Diamond Week 2025 (Winter) event as part of ongoing industry engagement.
  • The Gem and Jewellery Export Promotion Council (India) Partner — Gold sponsor of the 2025 World Federation of Diamond Bourses Presidents' Meetings hosted by DDC.
  • WFDB Network — Hosted the WFDB 2025 Presidents' Meeting, indicating participation in a global diamond and gemstone industry network.
  • World Diamond Council Network — Honorary President role held by Eli Izhakoff, reflecting ongoing affiliation.
  • World Federation of Diamond Bourses Network — Automatic affiliation for DDC members, granting access to 29 bourses worldwide.
  • World Federation of Diamond Bourses Network — Founder member and participant in international representation and administration of the diamond trade.
  • World Federation of Diamond Bourses Network — Lifetime Honorary President role held by Eli Izhakoff, indicating enduring relationship.
  • World Federation of Diamond Bourses Network — Member of the World Federation of Diamond Bourses and abides by its by-laws and resolutions.
  • World Federation of Diamonds Partner — Collaborates on travel and conferences related to the global diamond industry.
  • World Jewellery Confederation Network — Listed as one of the organizations for which Eli Izhakoff holds an honorary position.
strategies · 3

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Arbitration-Based Trust System to Enable Secure Trade
    methodology: arbitration_based_trust
    By maintaining stringent membership requirements, enforceable by-laws, and a neutral arbitration system recognized by the New York State Supreme Court, the organization fosters trust and reduces transaction risk among members, because credible dispute resolution mechanisms increase cooperation and deter bad-faith behavior.
  • Convening Power to Strengthen Industry Coordination
    methodology: convening_power
    By convening high-level industry leaders and government officials, and forming umbrella organizations, the organization enables coordinated action and policy alignment within the global diamond trade, because centralized dialogue among key stakeholders accelerates consensus and collective problem-solving.
  • Industry Self-Regulation Through Standards and Information
    methodology: industry_self_regulation
    By establishing industry-wide disclosure standards and disseminating reliable information, the organization promotes ethical trade practices, because shared norms and transparency reduce misconduct and build market integrity.