It reports annually to the Australian Charities and Not-for-profits Commission (ACNC), the national regulator of charities.
The latest financial report is roughly in line with the previous year’s accounts, which showed the Jewellers Association of Australia (JAA) produced a profit of $106,000.
However, it should be noted that the 2022 financial report was for an 18-month period, as the industry association changed its reporting period from the traditional July to June financial year to a calendar year schedule.
This was an understandable change, given that an annual membership covers January through December.
The total revenue for the 2023 calendar year was $243,275, with membership income ($197,698) accounting for 80 per cent of all revenue. By comparison, the JAA’s revenue for FY21 and FY20 was $258,350 and $269,016 respectively.
Under the current board, the JAA has stopped including membership details in its financial reports to the national regulator.
Jeweller contacted the JAA about its membership figures; however, as the board has done previously, the information was not provided.
What do we know?
According to the ‘Find a JAA Jeweller’ search function on the association’s website, 311 retail members are currently listed, a slight decline from the previous year.
It should be noted that the 'Find a JAA Jeweller' directory displays 369 individual records; however, this is confusing for a number of reasons.
Many records are not jewellers (retail stores). The website directory includes industry suppliers, as well as service providers, such as freight companies.
For example, the Gemmological Association of Australia (GAA) is listed as a ‘JAA Jeweller’.
Furthermore, the directory individually lists every store (location) operated by a member.
Explained another way, prior to quitting the association in February, Bevilles once accounted for around 30 store listings on the JAA website; however, the retailer was only counted as an individual member.
With that in mind, a calculation of retail JAA members must be done by removing non-retailers and accounting for members with multiple stores listed in the directory.
This same methodology was applied during the 2024 State of the Industry Report, which determined 316 retail members, slightly more than the apparent 311 calculated this year.
By contrast, Nationwide Jewellers currently has 362 members (292 in Australia and 70 in New Zealand). Around a decade ago, the JAA’s total membership was 791.
False claims
Readers may also recall a report earlier this year highlighting that the JAA’s website claimed “a current membership of around 650 outlets” – a statement that could not be substantiated.
The report explained the misuse of the word 'outlets' and the JAA's claim was subsequently deleted from its website.
When calculating the JAA's retail members, there’s an additional ‘spanner in the works’ – stores that don’t exist.
The same news report in February raised the issue of the JAA listing stores that had closed.
For example, more than six months after the error was identified the ‘Find a JAA Jeweller’ directory continues to list 20 Salera's stores (in the 369 figure), even though the retailer’s website lists only 17 stores.
This is confusing for consumers who may wish to use the website to locate a ‘JAA Jeweller’, and this incorrect information generally misleads the broader industry.
It is also interesting to note that membership among businesses listed as ‘By Appointment Only’ (20) continues to increase. While the company is a member, Jeweller has previously detailed why these business types cannot be described as traditional retail stores.
The same could be said for members listed ‘Online Only’ (4).
As previously noted, the JAA would resolve any confusion over membership figures by making this information publicly available, as it has done under previous boards.
Further insights
Among the other interesting information gleaned from the ACNC report is that the JAA employs two staff on a part-time basis. The 2023 Profit & Loss (P&L) records $90,000 in wages, or 37 per cent of total revenue.
This is a sharp contrast to 2016, when annual staffing costs amounted to $300,000 across three full-time employees; 55 per cent of total revenue ($543,00).
The P&L also records income of $17,000 from Jewelcover and $12,000 in 'sponsorship income'.
It also shows $6,850 in 'entrant fees' and $2,800 in 'ticket sales' which are most likely derived from the biennial JAA Australasian Jewellery Awards.
The expenses associated with the awards night appear to be around $13,000, while the JAA booked expenses close to $8,000 for ‘exhibitions’ and ‘functions’ for the year.
As a point of comparison, the JAA’s sponsorship income in 2016 was $222,000, almost equal to its total revenue for 2023 ($243,000) while its membership income in 2016 was $321,000 compared to $197,000 last year.
Click to view PDF of full financial report
More reading
Is the current JAA board representative of the industry?
JAA: The past is haunting, and the future is unclear
JAA: Legacy of past presidents and their achievements
Membership blow: Major jewellery chain quits JAA
Administrative penalties: Confusion around JAA reporting requirements intensifies
JAA: Queries over governance standards; possible breach of regulations
New reporting cycle for JAA, board position filled