Genesis Reef Project Inc

Analysis

Genesis Reef Project Inc is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in August 2015, 11 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2022, Genesis Reef Project Inc reported income of $925k and spending of $910k, spending 98% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $561k to $925k (+65%), an average of +18% a year. The sharpest change came in the year to December 2021, when income rose by 96%. Over the whole period it spent 80% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Genesis Reef Project Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 80th percentile within FL. Charities of a similar size with the same main cause include Got Green ($924k), Yukon River Inter-Tribal Watershed Council ($926k) and The Last Green Valley Inc ($923k).

On its Form 990 for the period ending December 2022, revenue came from program service revenue 117% of the total. Other salaries and wages came to $190k. At year end it held assets of $787k against liabilities of $70k, net assets of $717k. It reported 5 employees.