The AGTA Board of Directors has decided to create the AGTA Foundation to respond to the needs and opportunities of AGTA’s members and the industry and consumers alike. After careful review of the changing dynamics of the business world and the gemological industry it was determined that there are numerous areas where research and education can play a constructive role in educating the public about the informed purchase of gemstones and cultured pearls as well as new discoveries in the characterization and origins of gemstones.
The AGTA Foundation was formed to provide education and research as an integral part of fulfilling the Association’s overall mission and purpose. The Foundation will be a subsidiary of the Association; however, it will hold a United States Internal Revenue Code designation as a 501-C3 for the purpose of tax-exempt status for contributions and other financial support. A formal approval of the full Board of Trustees is expected to occur in the Fall of 2007. The Foundation’s work will have begun prior to that time under the temporary leadership and guidance of the AGTA Board of Directors and the staff assigned to lead both the organizational and operational work for the Foundation’s initial undertakings.