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WORLD DIAMOND COUNCIL ASSOCIATION

NEW YORK, NY · EIN 134137606 · Form 990 · FY2024 · NTEE S46 · Community Improvement · Small ($100K-$1M) · worlddiamondcouncil.org
revenue
$628K
expenses
$684K
net assets
$809K
employees
0
volunteers
19
program ratio
88%
mission · from form 990

TO DEVELOP A SYSTEM WHEREBY THE EXTRACTION OF DIAMONDS WOULD BE DOCUMENTED IN ORDER TO END THE TRADE OF CONFLICT DIAMONDS.

profile · synthesized from sources

The World Diamond Council (WDC) is a New York-based trade association working to eliminate conflict diamonds by promoting responsible sourcing across the diamond supply chain. It represents the natural diamond industry in the tripartite Kimberley Process (KP), alongside governments and civil society, and developed the System of Warranties (SoW) to ensure conflict-free origins are documented at every transaction. The WDC supports global compliance with the KP Certification Scheme and advocates for adherence to human rights, anti-corruption, and anti-money laundering standards.

named programs · 3 · from sources

What they call their work

Kimberley Process Representation
The WDC serves as the official industry representative in the tripartite Kimberley Process forum, participating in decision-making processes, working groups, and review visits to member countries to strengthen implementation of the Kimberley Process Certification Scheme (KPCS).
System of Warranties (SoW)
A self-regulatory mechanism requiring buyers and sellers of rough and polished diamonds and diamond jewelry to include a standardized warranty statement on business-to-business invoices, affirming compliance with the Kimberley Process and adherence to responsible business practices including human rights, anti-corruption, and anti-money laundering standards.
Working Group of Diamond Experts (WGDE)
Technical committee chaired by the WDC that addresses implementation challenges of the Kimberley Process Certification Scheme and develops solutions to enhance its effectiveness.
activities · 2 groups

What they do

  • Jewelry and Gemstone Industry Advancement 4 activities
    • Aligns compliance frameworks across industry initiatives
      Coordinates the System of Warranties self-assessment process with the Responsible Jewellery Council and De Beers Best Practice Principles to reduce duplication and streamline compliance for industry members.
    • Develops and maintains the System of Warranties for conflict-free diamonds
      Established and expanded the System of Warranties in 2002 and 2021 to ensure conflict-free assurance across the diamond value chain, requiring buyers and sellers to include warranty statements on invoices and extending coverage to include human rights, labor rights, anti-corruption, and anti-money laundering principles. The system is documented in the SoW Guidelines and applies to rough, polished, and set diamonds.
    • Develops documentation and regulatory systems for responsible diamond sourcing
      Creates and implements regulatory and self-regulatory systems to control the trade in rough diamonds under the Kimberley Process Certification Scheme and to promote responsible sourcing practices across the diamond supply chain.
    • Leads industry engagement in the Kimberley Process Certification Scheme
      Founded in 2000 to represent the diamond industry in the Kimberley Process, the organization participates in tripartite governance, chairs the Working Group of Diamond Experts, contributes to policy development, and conducts review visits to monitor member compliance. It also submitted the foundational working paper that led to the creation of the KPCS and continues to lead efforts to expand the definition of conflict diamonds.
  • Uncategorized 2 activities
    • Issues unique identification numbers to System of Warranties participants
      Provides unique identification numbers to companies that complete the System of Warranties self-assessment, enabling them to display the number on invoices and memos alongside the warranty statement to verify compliance.
    • Supports implementation and modernization of the Kimberley Process
      Led the development of the Kimberley Process Secretariat launched in 2024 in Gaborone, Botswana, and advocates for digitization by supporting the implementation of secured digital certificates and promoting transparency through the inclusion of mining origin countries on certificates.
financials · form 990 · fy2024
revenue
Total revenue$628K
Contributions & grants$00%
Program service revenue$611K97%
Investment income$17K3%
Other revenue$0
expenses
Total expenses$684K
Program expenses88%
Admin / overhead12%
Fundraising0%
Salaries & benefits$0
Grants paid out$0
Largest expense lineProfessional Fees
balance sheet
Total assets$1.09M
Cash$588K
Investments$474K
Liabilities$285K
Net assets$809K
Liquid reserves18.6 mo
5 years on record · 2020–2024 · YoY revenue +24.2%
leadership · form 990 part vii · fy2024

Who runs it

board members · 20
  • ALAN COHEN — DIRECTOR
  • AMIT EYTAN — DIRECTOR
  • ANOOP V MEHTA — TREASURER
  • ARNON JUWAL — DIRECTOR
  • CONROY CHENG — DIRECTOR
  • DAN ROSE — DIRECTOR
  • DAVID BONAPARTE — DIRECTOR
  • EDWARD ASSCHER — DIRECTOR
  • FERIEL ZEROUKI — PRESIDENT
  • GAETANO CAVALIERI — DIRECTOR
  • HYWEL JAMES — DIRECTOR
  • LATIFA EL KOSTIT — DIRECTOR
  • MICHAEL GEELHAND DE MERXEN — DIRECTOR
  • NISSIM ZUARETZ — DIRECTOR
  • RAJIV MEHTA — DIRECTOR
  • ROBYN ELLISON — DIRECTOR
  • RONALD VANDERLINDEN — VICE PRESIDENT
  • SHAUNAK PARIKH — DIRECTOR
  • UDI SHEINTAL — SECRETARY
  • WAFA JAFFERY — DIRECTOR
relationships · 31

Who they work with

  • BHARAT DIAMOND BOURSE Partner — Member of the World Diamond Council
  • CIBJO Network — Aligns with CIBJO's Responsible Sourcing Blue Book, which references SoW compliance.
  • CIBJO, THE WORLD JEWELLERY CONFEDERATION Partner — Member of the World Diamond Council
  • Chow Tai Fook Jewellery Partner — Referenced in Chow Tai Fook Jewellery's Code of Practice for Supplier Assessment.
  • Civil Society Coalition Partner — Copies Observer status with civil society groups in the Kimberley Process and collaborates on monitoring and policy development.
  • DE BEERS GROUP Partner — Member of the World Diamond Council
  • DIAMEX INC. Partner — Member of the World Diamond Council and leadership involvement in WDC
  • DN DIAMONDS Partner — Member of the World Diamond Council and leadership involvement in industry associations
  • DUBAI DIAMOND EXCHANGE Partner — Member of the World Diamond Council
  • De Beers Group Partner — Coordinates with De Beers Group to align System of Warranties self-assessment with its Best Practice Principles Assurance Programme.
  • GEMOLOGICAL INSTITUTE OF AMERICA Partner — Member of the World Diamond Council
  • International Diamond Manufacturers Association Network — Engages with organizations belonging to the International Diamond Manufacturers Association, where SoW compliance is required.
  • International Diamond Manufacturers Association Partner — Co-founded the World Diamond Council in 2000 to represent the diamond industry in the Kimberley Process.
  • Kimberley Process Coalition — Active participant and reporting member of the Kimberley Process, submitting annual reports and engaging in plenary and intersessional meetings.
  • Kimberley Process Coalition — Industry representative and Observer in the tripartite coalition of the Kimberley Process, alongside member governments and civil society.
  • Kimberley Process Coalition — Official representative of the diamond industry within the Kimberley Process, collaborating with governments and civil society to eradicate conflict diamonds.
  • Kimberley Process Coalition — Represents the diamond industry in the tripartite structure of the Kimberley Process, alongside governments and civil society.
  • Kimberley Process Certification Scheme Government — Aligns the System of Warranties with the Kimberley Process Certification Scheme to ensure diamonds are conflict-free and compliant with international standards.
  • RESPONSIBLE JEWELLERY COUNCIL Partner — Member of the World Diamond Council
  • RIO TINTO Partner — Member of the World Diamond Council
  • Responsible Jewellery Council Partner — Collaborates with the Responsible Jewellery Council to align System of Warranties requirements with its Code of Practices.
  • SIGNET JEWELERS Partner — Member of the World Diamond Council
  • Signet Jewelers Partner — Recognized in Signet Jewelers' Responsible Sourcing Protocol for Diamonds as a compliance requirement.
  • THE ISRAELI DIAMOND EXCHANGE Partner — Member of the World Diamond Council
  • TIFFANY & CO. Partner — Member of the World Diamond Council
  • Tiffany & Co. Partner — Referenced in Tiffany & Co.'s Supplier Code of Conduct regarding compliance with the System of Warranties.
  • U.S. JEWELERY COUNCIL Partner — Member of the World Diamond Council and shared leadership with WDC
  • United Nations Government — Collaborated with the UN in the establishment of the Kimberley Process in 2000.
  • WORLD FEDERATION OF DIAMOND BOURSES Partner — Member of the World Diamond Council
  • World Federation of Diamond Bourses Network — Works with diamond exchanges affiliated with the World Federation of Diamond Bourses, where SoW compliance is a membership requirement.
+ 1 more
strategies · 5

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.

  • Incremental Reform within Global Governance Frameworks
    methodology: incremental-reform
    By advancing achievable reforms within the Kimberley Process, we produce durable progress on conflict diamonds, because prioritizing pragmatic, step-by-step improvements sustains political buy-in and avoids collapse of multilateral consensus.
  • Industry Self-Regulation with Inclusive Standards
    methodology: industry-self-regulation
    By implementing self-regulation frameworks like the System of Warranties, we establish ethical baselines across the supply chain, because inclusive, accessible standards enable broad participation and normalization of responsible practices even among small and medium enterprises.
  • Integration of Cross-Cutting Responsible Sourcing Standards
    methodology: responsible-sourcing-integration
    By embedding human rights, labor rights, anti-corruption, and anti-money laundering norms into supply chain warranties, we elevate responsible sourcing beyond conflict diamonds, because aligning multiple compliance domains strengthens accountability and raises the cost of unethical behavior.
  • Multilateral Diplomacy and Compliance Engagement
    methodology: multilateral_diplomacy
    By participating in multilateral forums like the Kimberley Process, we eliminate conflict diamonds through coordinated governance, because collaboration among governments, industry, and civil society enables enforceable standards and technical alignment that no single actor could achieve alone.
  • System of Warranties for Supply Chain Accountability
    methodology: supply-chain-warranty
    By requiring cascading warranty statements on invoices across the diamond supply chain, we ensure conflict-free origin assurances are maintained and traceability is enforced, because documented transaction-level commitments create a verifiable paper trail that deters the inclusion of conflict diamonds.