Overview
What is The Genesis Reef Project Inc?
The Genesis Reef Project Inc, a nonprofit organization, is dedicated to the development and preservation of marine environments. Specifically, they specialize in creating artificial reefs by deploying reef balls. This innovative approach enhances marine life and biodiversity, contributing to a healthier ecosystem. By implementing this mission, they aim to foster a sustainable marine environment for future generations. Their work is an essential step towards restoring and protecting our oceans.
Official website here: www.eternalreefs.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement
The Genesis Reef Project Inc has received a Two-Star out of Four Star rating from Charity Navigator, indicating that it requires improvement in various accountability and financial aspects. With an overall score of 62%, the organization demonstrates some strengths, such as a high program expense ratio of 84.94%, suggesting a commitment to its mission-driven activities. The board structure is partially independent, with 66% of its members being independent, which can enhance governance.
However, there are significant areas of concern. The organization lacks essential policies, including conflict of interest, whistleblower, and document retention policies, which are critical for transparency and accountability. Furthermore, the absence of financial statements listed on their website severely impacts their financial clarity, as reflected in their score of 0 out of 15 for financial statements.
The lack of comprehensive financial oversight and documentation raises red flags for potential donors and stakeholders. Improving these areas could help The Genesis Reef Project Inc bolster its credibility and effectiveness in fulfilling its mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Genesis Reef Project Inc legitimate?
The Genesis Reef Project Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Genesis Reef Project Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $190,044
For more financial information, click here
Official website here: www.eternalreefs.com
What is the mission statement of The Genesis Reef Project Inc?
The Genesis Reef Project Inc is dedicated to the development and preservation of the marine environment. They accomplish this by creating artificial reefs through the deployment of reef balls. This organization's mission is to enhance and protect marine life, contributing to a healthier and more diverse underwater ecosystem. By constructing these artificial reefs, they aim to provide a thriving habitat for various marine species, fostering biodiversity and promoting the overall health of our oceans.
Official website here: www.eternalreefs.com
Who is the CEO of The Genesis Reef Project Inc?
George Frankel is the Director/Pre of The Genesis Reef Project Inc.
Official website here: www.eternalreefs.com
What is the revenue of The Genesis Reef Project Inc?
The Genesis Reef Project Inc's revenue in 2022 was $924,636.
Official website here: www.eternalreefs.com
Who are the executives of The Genesis Reef Project Inc and what are their salaries?
The average compensation at The Genesis Reef Project Inc during 2022 was $38,009. There are 5 employees and 70 volunteers at The Genesis Reef Project Inc.
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $7,465
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.eternalreefs.com
Where can I find the form 990 for The Genesis Reef Project Inc?
The Genesis Reef Project Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.eternalreefs.com
Learn more at the official website: www.eternalreefs.com
Mission Statement of The Genesis Reef Project Inc
The Genesis Reef Project Inc, a nonprofit organization, is dedicated to the development and preservation of the marine environment. Through innovative methods, this organization creates artificial reefs by deploying reef balls, a unique approach that aims to enhance and protect marine habitats. The goal of Eternal Reefs, as The Genesis Reef Project Inc is also known, is to foster a thriving marine ecosystem, contributing to the overall health and diversity of ocean life. By constructing these artificial reefs, The Genesis Reef Project Inc aims to provide a sanctuary for various marine species, promoting biodiversity and supporting the delicate balance of the marine ecosystem.
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Impact
June, 2024
The Genesis Reef Project Inc's impact is focused on developing and preserving the marine environment through the deployment of reef balls to create artificial reefs. This initiative contributes to the improvement of marine ecosystems and biodiversity, providing habitats for various marine species. Additionally, the project helps in enhancing the overall health of ocean environments and supporting sustainable fishing practices.
This information is meant to be a general summary of The Genesis Reef Project Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: -$80,430
- Program Service Revenue: $1,085,275
- Gross Receipts: $1,152,748
Assets and Liabilities:
- Total Assets: $787,082
- Total Liabilities: $69,825
- Net Assets: $717,257
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
REEF BALL DEPLOYMENTS
Revenue
$1,085,275
Organization Details
Founding Year
2015
Phone
(770) 500-3241Principal Officer
George Frankel
Main Address
PO BOX 3811, SARASOTA, FL, 34230
Website
www.eternalreefs.comNTEE Category
Code: C30 - Environment
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