Civic Intelligence

The Genesis Reef Project Inc

EIN 47-4637792 • 501(c)3 • Sarasota, FL

Profile

Marine environment development and preservation

PO Box 3811Sarasota, FL 34230

www.eternalreefs.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

43rd percentile

0.03x

Higher debt load relative to assets than 43% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

42nd percentile

0.04x

Higher debt load relative to revenue than 42% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

84th percentile

38%

Higher net margin than 84% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

88th percentile

39%

Faster asset growth than 88% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

38th percentile

0.8%

Faster revenue growth than 38% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$1,603,617

Up $452,172 (+39%) from 2023

Liabilities

Down

$54,354

Down $26,457 (-33%) from 2023

Net Assets

Up

$1,549,263

Up $478,629 (+45%) from 2023

Revenue

Up

$1,273,455

Up $10,510 (+0.8%) from 2023

Expenses

Down

$791,327

Down $129,411 (-14%) from 2023

Net Income

Up

$482,128

Up $139,921 (+41%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2017: $143,867Liabilities 2017: $15,814Net Assets 2017: $128,0532017Assets 2018: $74,894Liabilities 2018: $36,615Net Assets 2018: $38,2792018Assets 2019: $107,430Liabilities 2019: $31,349Net Assets 2019: $76,0812019Assets 2020: $323,472Liabilities 2020: $83,322Net Assets 2020: $240,1502020Assets 2021: $764,602Liabilities 2021: $76,150Net Assets 2021: $688,4522021Assets 2022: $787,082Liabilities 2022: $69,825Net Assets 2022: $717,2572022Assets 2023: $1,151,445Liabilities 2023: $80,811Net Assets 2023: $1,070,6342023Assets 2024: $1,603,617Liabilities 2024: $54,354Net Assets 2024: $1,549,2632024

Highlighted filing

2024

Assets$1,603,617
Liabilities$54,354
Net Assets$1,549,263

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2017: $472,106Expenses 2017: $344,053Net Income 2017: $128,0532017Revenue 2018: $495,930Expenses 2018: $585,704Net Income 2018: -$89,7742018Revenue 2019: $561,154Expenses 2019: $523,352Net Income 2019: $37,8022019Revenue 2020: $622,793Expenses 2020: $458,724Net Income 2020: $164,0692020Revenue 2021: $1,223,386Expenses 2021: $775,084Net Income 2021: $448,3022021Revenue 2022: $924,636Expenses 2022: $909,631Net Income 2022: $15,0052022Revenue 2023: $1,262,945Expenses 2023: $920,738Net Income 2023: $342,2072023Revenue 2024: $1,273,455Expenses 2024: $791,327Net Income 2024: $482,1282024

Highlighted filing

2024

Revenue$1,273,455
Expenses$791,327
Net Income$482,128

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 16, 2025
Return Version
2024v5.0
Gross Receipts
$1,923,099
Mission and Program Overview

Mission

Marine environment development and preservation

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$904,900$1,245,585▲ $340,685
Savings and Temporary Cash Investments$155,526$264,544▲ $109,018
Cash and Non-Interest-Bearing Accounts$49,283$60,524▲ $11,241
Land, Buildings, and Equipment, Net$37,899$29,228▼ $8,671
Loans From Officers Directors$11,000$10,000▼ $1,000
Prepaid Expenses and Deferred Charges$3,200$3,000▼ $200
Total Assets$1,151,445$1,603,617▲ $452,172
Other Assets Total$637$736▲ $99
Liabilities
Other Liabilities$69,811$44,354▼ $25,457
Total Liabilities$80,811$54,354▼ $26,457
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,272,448$1,733,627▲ $461,179
Net Assets Without Donor Restrictions$-201,814$-184,364▲ $17,450
Total Net Assets Fund Balance$1,070,634$1,549,263▲ $478,629
Total Liabilities and Net Assets / Fund Balance$1,151,445$1,603,617▲ $452,172

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$29,228$23,929$53,157
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,221,195
Investment Income
$114,951
Other Revenue
$-62,691
Change in Net Assets
$482,128
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$543,048
Salaries, Compensation, and Employee Benefits$248,279
Total Fundraising Expense$23,112
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$232,489--$232,489
Office Expenses$66,325--$66,325
Fees for Services Other$55,065--$55,065
Occupancy$25,002$25,003-$50,005
Travel$21,864$7,288-$29,152
Advertising--$21,975$21,975
Fees for Services Accounting-$20,621-$20,621
Insurance-$14,859-$14,859
Payroll Taxes$14,377--$14,377
Information Technology-$7,852-$7,852
Depreciation Depletion$7,331--$7,331
Fees for Services Legal-$1,520-$1,520
Other Employee Benefits$1,413--$1,413
Interest-$11-$11
Other Expenses$-3,334-$1,137$-3,334
Total Functional Expenses$691,061$77,154$23,112$791,327
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-100% CONTROLLEDReef Ball PurchasesNo$151,767
-100% CONTROLLEDIp Licensing FeeYes$65,270

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$11,000$10,000▼ $1,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
License Fee Payable$49,508
Credit Card Payable$-5,154
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 7A

Directors have power to elect new/additional members.

Form 990, Page 6, Part VI, Line 11B

President/director reviews with outside cpa firm.

Form 990, Page 6, Part VI, Line 19

Documents available to the public upon request.

Filing and Contact Details

Filer

Filer Name
The Genesis Reef Project Inc
EIN
47-4637792
Phone
7705003241
Address
PO BOX 3811, SARASOTA, FL 34230
Doing Business As
Eternal Reefs

Signing Officer

Name
George Frankel
Title
Director/president
Phone
7705003241
Signed
2025-11-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
George Frankel
Formed
2015
Legal Domicile
Fl
Voting Board Members
3
Independent Board Members
2
Employees
5
Volunteers
70

Preparer

Firm
Haines & Knox LLC
Address
1549 LAKE HOLCOMB LANE, MARIETTA, GA 30062
Preparer
Teresa L Knox CPA
Phone
7705003241
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

Deployment of reef balls for the development of artificial reefs.

Form 990, Part XI, Line 9

Book / tax depreciation difference -3,499

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt053157
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt049508
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1-5154
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LICENSE FEE PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CREDIT CARD PAYABLE
IRS990ScheduleD/TotalBookValueLandBuildingsAmt029228
IRS990ScheduleD/TotalLiabilityAmt044354
IRS990/ScheduleJRequiredInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0ETERNAL REEFS INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1REEF INNOVATIONS INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0100% CONTROLLED
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1100% CONTROLLED
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0true
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt065270
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1151767
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0IP LICENSING FEE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1REEF BALL PURCHASES
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt010000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd0true
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd0false
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0SHORT TERM LOAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt010000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0GEORGE FRANKEL
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0DIRECTOR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd0true
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0ETERNAL REEFS, INC. IS AN ENTITY 100% OWNED BY GEORGE FRANKEL, AN OFFICER AND DIRECTOR OF GENESIS REEF PROJECT, INC. MR. FRANKEL HAS OVER 26 YEARS EXPERIENCE IN ARTIFICIAL REEF BUILDING, DESIGN AND DEVELOPMENT. REEFS INNOVATIONS, INC. IS AN ENTITY 100% OWNED BY LAWRENCE D. BEGGS, A DIRECTOR FOR GENESIS REEF PROJECT, INC. MR. BEGGS HAS OVER 33 YEARS EXPERIENCE IN REEF BALL DESIGN, MANUFACTURING AND DEPLOYMENT.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990ScheduleL/TotalBalanceDueAmt010000
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DEPLOYMENT OF REEF BALLS FOR THE DEVELOPMENT OF ARTIFICIAL REEFS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DIRECTORS HAVE POWER TO ELECT NEW/ADDITIONAL MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2PRESIDENT/DIRECTOR REVIEWS WITH OUTSIDE CPA FIRM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4BOOK / TAX DEPRECIATION DIFFERENCE -3,499
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 2, PART III, LINE 4D
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false
IRS990ScheduleR/DivRelatedOrganizationInd0false
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd0false
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd0false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ControlledOrganizationInd1false
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingNACd1N/A
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN0582450162
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EIN1593328645
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd0FL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/LegalDomicileStateCd1FL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0LEASING
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt1MANUFACTUR
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0ERI
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1REEF INNOVATIONS INC
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt0PO BOX 3811
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt12415 MCMICHAEL ROAD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm0SARASOTA
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/CityNm1ST CLOUD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd0FL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/StateAbbreviationCd1FL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd034236
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/ZIPCd134771
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd0false
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd0false
IRS990ScheduleR/PaidEmployeesSharingInd0false
IRS990ScheduleR/PerformOfServicesByOtherOrgInd0false
IRS990ScheduleR/PerformOfServicesForOthOrgInd0false
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd0false
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd0false
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd0false
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd0false
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd0false
IRS990ScheduleR/SharingOfFacilitiesInd0false
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt01151445
IRS990/TotalAssetsEOYAmt01603617
IRS990/TotalAssetsGrp/BOYAmt01151445
IRS990/TotalAssetsGrp/EOYAmt01603617
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt023112
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt077154
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0691061
IRS990/TotalFunctionalExpensesGrp/TotalAmt0791327
IRS990/TotalGrossUBIAmt0-62691
IRS990/TotalLiabilitiesBOYAmt080811
IRS990/TotalLiabilitiesEOYAmt054354
IRS990/TotalLiabilitiesGrp/BOYAmt080811
IRS990/TotalLiabilitiesGrp/EOYAmt054354
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01070634
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01549263
IRS990/TotalProgramServiceExpensesAmt0691061
IRS990/TotalProgramServiceRevenueAmt01221195
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01336146
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01273455
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-62691
IRS990/TotalVolunteersCnt070
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01151445
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01603617
IRS990/TravelGrp/ManagementAndGeneralAmt07288
IRS990/TravelGrp/ProgramServicesAmt021864
IRS990/TravelGrp/TotalAmt029152
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 3811

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