Civic Intelligence

The Genesis Reef Project Inc

990 • Fiscal year 2019 • EIN 47-4637792

Jan 01, 2019 to Dec 31, 2019 • Filed on Aug 26, 2020

Organization ProfileWWW.ETERNALREEFS.COM
1126 Central AvenueSarasota, FL 34236

(770) 500-3235

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.29x

Higher debt load relative to assets than 78% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

59th percentile

0.06x

Higher debt load relative to revenue than 59% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Net Margin

57th percentile

6.7%

Higher net margin than 57% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

50th percentile

$0

Higher top officer pay than 50% of similar nonprofits.

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

2019 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2019

Asset Growth

87th percentile

43%

Faster asset growth than 87% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

65th percentile

13%

Faster revenue growth than 65% of similar nonprofits.

2019 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets78th percentile

Assets

Up

$107,430

Up $32,536 (+43%) from 2018

Net Assets

Up

$76,081

Up $37,802 (+99%) from 2018

Liabilities

Down

$31,349

Down $5,266 (-14%) from 2018

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin57th percentile

Revenue

Up

$561,154

Up $65,224 (+13%) from 2018

Expenses

Down

$523,352

Down $62,352 (-11%) from 2018

Net Income

Up

$37,802

Up $127,576 (+142%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth87th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2019

Assets$107,430
Liabilities$31,349
Net Assets$76,081
Open 2019 Filing

Operations Trend

Revenue Growth65th percentile

Revenue, expenses, and net income across loaded years, with this 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

2019

Revenue$561,154
Expenses$523,352
Net Income$37,802
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Aug 26, 2020
Return Version
2019v5.0
Gross Receipts
$675,818
Mission and Program Overview

Mission

Marine environment development and preservation

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$56,829$67,527▲ $10,698
Cash and Non-Interest-Bearing Accounts$18,065$39,903▲ $21,838
Total Assets$74,894$107,430▲ $32,536
Liabilities
Other Liabilities$36,615$31,349▼ $5,266
Total Liabilities$36,615$31,349▼ $5,266
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$38,279$43,318▲ $5,039
Net Assets With Donor Restrictions-$32,763-
Total Net Assets Fund Balance$38,279$76,081▲ $37,802
Total Liabilities and Net Assets / Fund Balance$74,894$107,430▲ $32,536
Compensation and Service Providers
Top Officer Pay50th percentile

Board Members and Trustees

NameTitle
Joseph Patrick WeatherbyDirector
Lawrence Daniel BeggsDirector
George FrankelDirector/pre
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$614,092
Investment Income
$214
Other Revenue
$-53,152
Change in Net Assets
$37,802
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$425,056
Salaries, Compensation, and Employee Benefits$98,296
Total Fundraising Expense$50,721
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$98,296--$98,296
Office Expenses$52,225--$52,225
Advertising--$49,922$49,922
Occupancy$17,900$17,901-$35,801
Travel$19,010$6,337-$25,347
Fees for Services Other$17,565--$17,565
Fees for Services Legal-$9,696-$9,696
Fees for Services Accounting-$9,535-$9,535
Insurance-$2,922-$2,922
Information Technology-$1,524-$1,524
Other Expenses$33,780-$799$799
Total Functional Expenses$424,716$47,915$50,721$523,352
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 ManufacterNo$102,996
-100% CONTROLLEDIp Licensing FeeYes$33,780
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
License Fee Payable$24,039
Credit Card Payable$7,310
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
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
Yes
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 7B

“Board members have power to approve organization actions.”

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
7705003235
Address
1126 CENTRAL AVENUE, SARASOTA, FL 34236
Doing Business As
Eternal Reefs

Signing Officer

Name
George Frankel
Title
Director/president
Phone
7705003235
Signed
2020-08-26
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
3
Volunteers
40

Preparer

Firm
Herald & Haines LLC
Address
625 BEAVER RUIN ROAD NW STE B, LILBURN, GA 30047-3407
Preparer
P William Herald Jr CPA
Phone
7709218110
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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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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1LIST PRICE MINUS 15%
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt2REIMBURSEMENT AT COST
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ETERNAL REEFS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt1REEF INNOVATIONS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt2REEF INNOVATIONS INC
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0K
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt1M
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt2M
IRS990ScheduleR/TransferFromOtherOrgInd0false
IRS990ScheduleR/TransferToOtherOrgInd0false
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt074894
IRS990/TotalAssetsEOYAmt0107430
IRS990/TotalAssetsGrp/BOYAmt074894
IRS990/TotalAssetsGrp/EOYAmt0107430
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt050721
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt047915
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0424716
IRS990/TotalFunctionalExpensesGrp/TotalAmt0523352
IRS990/TotalGrossUBIAmt0-53152
IRS990/TotalLiabilitiesBOYAmt036615
IRS990/TotalLiabilitiesEOYAmt031349
IRS990/TotalLiabilitiesGrp/BOYAmt036615
IRS990/TotalLiabilitiesGrp/EOYAmt031349
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt038279
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt076081
IRS990/TotalProgramServiceExpensesAmt0424716
IRS990/TotalProgramServiceRevenueAmt0614092
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0614306
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0561154
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0-53152
IRS990/TotalVolunteersCnt040
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt074894
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0107430
IRS990/TravelGrp/ManagementAndGeneralAmt06337
IRS990/TravelGrp/ProgramServicesAmt019010
IRS990/TravelGrp/TotalAmt025347
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01126 CENTRAL AVENUE
IRS990/USAddress/CityNm0SARASOTA
IRS990/USAddress/StateAbbreviationCd0FL
IRS990/USAddress/ZIPCd034236
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.ETERNALREEFS.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GEORGE FRANKEL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR/PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07705003235
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-08-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0THE GENESIS REEF PROJECT INC
ReturnHeader/Filer/BusinessNameControlTxt0GENE
ReturnHeader/Filer/EIN0474637792
ReturnHeader/Filer/PhoneNum07705003235
ReturnHeader/Filer/USAddress/AddressLine1Txt01126 CENTRAL AVENUE
ReturnHeader/Filer/USAddress/CityNm0SARASOTA
ReturnHeader/Filer/USAddress/StateAbbreviationCd0FL
ReturnHeader/Filer/USAddress/ZIPCd034236
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId07EE81F4674EE098F6F5A1AC55AF1ABB6B3B3CB1A
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId06DEC3EC8228A82911E3D2520350E671E88F586C5
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt052.37.240.203
ReturnHeader/FilingSecurityInformation/IPDt02020-08-31
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CD
ReturnHeader/FilingSecurityInformation/IPTm012:05:41
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0582356893
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HERALD & HAINES LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0625 BEAVER RUIN ROAD NW STE B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LILBURN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0GA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0300473407
ReturnHeader/PreparerPersonGrp/PhoneNum07709218110
ReturnHeader/PreparerPersonGrp/PreparationDt02020-08-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0P WILLIAM HERALD JR CPA
ReturnHeader/ReturnTs02020-08-31T12:05:41-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$107,430
Liabilities
$31,349
Net assets
$76,081
Revenue
$561,154
Expenses
$523,352
Net income
$37,802
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.60$0.05$1.55$1.27$0.79$0.48
2023Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.15$0.08$1.07$1.26$0.92$0.34
2022Detailed filing. Detailed filing data is available for this year.$0.79$0.07$0.72$0.92$0.91$0.02
2021Detailed filing. Detailed filing data is available for this year.$0.76$0.08$0.69$1.22$0.78$0.45
2020Detailed filing. Detailed filing data is available for this year.$0.32$0.08$0.24$0.62$0.46$0.16
2019Detailed filing. Detailed filing data is available for this year.$0.11$0.03$0.08$0.56$0.52$0.04
2018Detailed filing. Detailed filing data is available for this year.$0.07$0.04$0.04$0.50$0.59$0.09
2017Detailed filing. Detailed filing data is available for this year.$0.14$0.02$0.13$0.47$0.34$0.13