Nonprofit · EIN 47-4637792
GENESIS REEF PROJECT INC
Tax-exempt · SARASOTA, FL 34230
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $1,273,455 | $791,327 | $482,128 | $1,603,617 | $54,354 | $1,549,263 |
| December 31, 2023 | 990 | $1,262,945 | $920,738 | $342,207 | $1,151,445 | $80,811 | $1,070,634 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $1,221,195
- Investment income
- $114,951
- Net gain from sales of assets
- $71,217
- Net income from sales of inventory
- -$62,691
- Other revenue
- -$62,691
Expenses
- Grants and similar amounts paid
- $0
- Other salaries and wages
- $232,489
- Salaries, compensation and benefits (total)
- $248,279
- Professional fundraising fees
- $0
- Legal fees
- $1,520
- Accounting fees
- $20,621
- Occupancy
- $50,005
- Travel
- $29,152
- Depreciation
- $7,331
- Program services (functional)
- $691,061
- Management and general (functional)
- $77,154
- Fundraising (functional)
- $23,112
Balance sheet and other
- Total assets, start of year
- $1,151,445
- Total assets, end of year
- $1,603,617
- Total liabilities, end of year
- $54,354
- Net assets, end of year
- $1,549,263
- Land, buildings and equipment
- $29,228
- Publicly traded securities
- $1,245,585
- Net assets without donor restrictions
- -$184,364
- Net assets with donor restrictions
- $1,733,627
- Gross unrelated business income
- -$62,691
- Gross receipts
- $1,923,099
- Employees
- 5
- Volunteers
- 70
- Year formed
- 2015
- State of legal domicile
- FL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GEORGE FRANKEL | DIRECTOR/PRE Trustee or director, Officer | 40 | $0 |
| LAWRENCE DANIEL BEGGS | DIRECTOR Trustee or director | 1 | $0 |
| JOSEPH PATRICK WEATHERBY | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| GEORGE FRANKEL | DIRECTOR/PRE Trustee or director, Officer | 40 | $0 |
| LAWRENCE DANIEL BEGGS | DIRECTOR Trustee or director | 1 | $0 |
| JOSEPH PATRICK WEATHERBY | DIRECTOR Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 3811, SARASOTA, FL 34230-3811
- Mailing address (990-N for 2016)
- 1126 CENTRAL AVENUE, SARASOTA FL 34236
- Principal officer (990 for 2024)
- GEORGE FRANKEL, PO BOX 3811, SARASOTA, FL 34230
- Principal officer (990-N for 2016)
- GEORGE FRANKEL, 1126 CENTRAL AVENUE, SARASOTA FL 34236
- Signed the 990
- GEORGE FRANKEL, DIRECTOR/PRESIDENT
- Phone
- (770) 500-3241
- Website
- WWW.ETERNALREEFS.COM
- Return prepared by
- HAINES & KNOX LLC
Mission
MARINE ENVIRONMENT DEVELOPMENT AND PRESERVATION
Program accomplishments
- DEPLOYMENT OF REEF BALLS FOR THE DEVELOPMENT OF ARTIFICIAL REEFS.Expenses $691,061 · revenue $1,221,195
- DEPLOYMENT OF REEF BALLS FOR THE DEVELOPMENT OF ARTIFICIAL REEFS.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 47-4637792
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2015
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Environment (C30)
- Assets (IRS master file)
- $1,603,617
- Income (IRS master file)
- $1,923,099
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $1,273,455 | $791,327 | $1,603,617 | IRS |
| 990 | December 2023 | $1,262,945 | $920,738 | $1,151,445 | XML |
| 990 | December 2022 | $924,636 | $909,631 | $787,082 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2016 Officer: GEORGE FRANKEL | December 31, 2016 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 47-4637792).
Questions about GENESIS REEF PROJECT INC
- What is the EIN of GENESIS REEF PROJECT INC?
- The employer identification number (EIN) of GENESIS REEF PROJECT INC is 47-4637792.
- Is GENESIS REEF PROJECT INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2015.
- Are donations to GENESIS REEF PROJECT INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does GENESIS REEF PROJECT INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GENESIS REEF PROJECT INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GENESIS REEF PROJECT INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GENESIS REEF PROJECT INC?
- The 990 for the year ended December 31, 2024 names GEORGE FRANKEL.
- Who are the officers and directors of GENESIS REEF PROJECT INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 0 received compensation from the organization.
- How much revenue does GENESIS REEF PROJECT INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $1,273,455, expenses of $791,327 and total assets of $1,603,617 at year end.
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