Formally established in 2014, the FCRF goals are to introduce transparency, fair-trade principles and high standards of ethics to the fancy color diamond wholesale and retail segments, as well as to promote and enhance consumer and retail confidence and adoption of fancy color diamonds through publication of facts and education. FCRF activities trace back to 2005, when transactional fancy color diamond data was first systematically captured. The FCRF is non-for-profit and self-funded organization. Any profits generated by FCRF from selling analytic products is either reinvested in research purposes or donated to charity. Based in Tel Aviv, Israel, the FCRF is staffed by a team of analysts and professional writers. The FCRF is governed by a board of advisors, staffed by exceptional individuals representing the various regions and supply chain elements of fancy color diamonds.