Form 990 for tax year 2024
Filed by CORAL WORLD OCEAN AND REEF INITIATIVE INC.
Totals
- Total revenue
- $1,419,370
- Total expenses
- $1,429,965
- Contributions and grants received
- $1,328,575
- Grants paid
- $0
- Program service revenue
- $64,005
- Investment income
- -$1,223
- Other revenue
- $28,013
- Total assets, end of year
- $1,020,185
- Total liabilities, end of year
- $987,736
- Net assets or fund balances, end of year
- $32,449
- Program services expenses (Part IX)
- $1,312,150
- Management and general expenses
- $117,815
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,312,150
Program services were 91.8% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1d · Related organizations
$24,660
-
1e · Government grants (contributions)
$1,298,625
-
1f · All other contributions, gifts and grants
$5,290
-
2a · Program service revenue: DIVING REVENUE
total $64,005 · related or exempt $64,005
-
3 · Investment income
total $333 · excluded $333
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
6d · Net rental income or loss
total $0
-
7a · Gross sales of assets other than inventory
other assets $2,000
-
7b · Less cost or other basis and sales expenses
other assets $3,556
-
7c · Gain or loss
other assets -$1,556
-
7d · Net gain or loss
total -$1,556 · excluded -$1,556
-
8a · Fundraising events: gross income
$0
-
8b · Fundraising events: direct expenses
$0
-
8c · Net income from fundraising events
total $0
-
9a · Gaming: gross income
$0
-
9b · Gaming: direct expenses
$0
-
9c · Net income from gaming
total $0
-
10a · Gross sales of inventory
$0
-
10b · Cost of goods sold
$0
-
10c · Net income from sales of inventory
total $0
-
11a · Other revenue: MISCELLANEOUS REVENUE
total $28,013 · related or exempt $28,013
-
11e · Other revenue, total
$28,013
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0
-
2 · Grants to domestic individuals
total $0
-
3 · Grants to foreign organizations and individuals
total $0
-
4 · Benefits paid to or for members
total $0
-
5 · Compensation of officers, directors and key employees
total $0
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $831,114 · program services $828,668 · management and general $2,446
-
8 · Pension plan contributions
total $0
-
9 · Other employee benefits
total $69,304 · program services $69,098 · management and general $206
-
10 · Payroll taxes
total $85,364 · program services $85,111 · management and general $253
-
11a · Fees: management
total $0
-
11b · Fees: legal
total $0
-
11c · Fees: accounting
total $90,209 · program services $12,621 · management and general $77,588
-
11d · Fees: lobbying
total $0
-
11e · Fees: professional fundraising services
total $0
-
11f · Fees: investment management
total $0
-
11g · Fees: other
total $102,019 · program services $95,898 · management and general $6,121
-
12 · Advertising and promotion
total $0
-
13 · Office expenses
total $20,622 · program services $12,610 · management and general $8,012
-
14 · Information technology
total $1,584 · program services $394 · management and general $1,190
-
15 · Royalties
total $0
-
16 · Occupancy
total $7,947 · program services $7,941 · management and general $6
-
17 · Travel
total $26,658 · program services $17,325 · management and general $9,333
-
18 · Travel or entertainment for public officials
total $0
-
19 · Conferences, conventions and meetings
total $3,503 · program services $477 · management and general $3,026
-
20 · Interest
total $6,693 · program services $6,673 · management and general $20
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $52,074 · program services $52,074
-
23 · Insurance
total $24,676 · program services $15,388 · management and general $9,288
-
24a · Other expenses: PROGRAM SUPPLIES
total $93,507 · program services $93,507
-
24b · Other expenses: LICENSE & PERMITS
total $6,144 · program services $5,823 · management and general $321
-
24c · Other expenses: DIVE CERTIFICATIONS
total $2,564 · program services $2,559 · management and general $5
-
24d · Other expenses: MISCELLANEOUS EXPENSES
total $5,983 · program services $5,983
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $23,285 · end of year $455,244
-
2 · Savings and temporary cash investments
beginning of year $0 · end of year $0
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $116,743
-
4 · Accounts receivable
beginning of year $768 · end of year $0
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $2,692
-
10a · Land, buildings and equipment: cost or other basis
$540,143
-
10b · Land, buildings and equipment: accumulated depreciation
$94,637
-
10c · Land, buildings and equipment, net
beginning of year $110,471 · end of year $445,506
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $0 · end of year $0
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $0 · end of year $0
-
17 · Accounts payable and accrued expenses
beginning of year $32,936 · end of year $362,073
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $503,742
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $0 · end of year $121,921
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $0 · end of year $0
-
27 · Net assets without donor restrictions
beginning of year $101,588 · end of year $32,449
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $0
Mission and programs · 2024
Mission
CWORI is dedicated to conserving marine habitats and wildlife through coral reef restoration, scientific research, wildlife rescue and rehabilitation, and environmental education that promotes stewardship of marine ecosystems.
-
Coral World Ocean & Reef Initiative (CWORI) conserves marine habitats and wildlife through coral reef restoration, scientific research, wildlife rescue and rehabilitation, and environmental education. Program activities include coral propagation, genetic preservation, reef restoration, and marine conservation research designed to improve the resilience and long-term sustainability of coral reef ecosystems in the U.S. Virgin Islands. The organization also rescues and rehabilitates marine animals and birds, conducts public outreach and environmental education programs, and provides internships and volunteer opportunities that promote stewardship of marine resources. In furtherance of these educational and conservation objectives, CWORI operates a dive center that offers scuba certification courses, guided ecological dives, snorkeling experiences, and marine education programs that increase public awareness of coral reef conservation and marine ecosystem protection while supporting the organization's conservation initiatives.
Expenses $1,312,150 · Revenue $64,005
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
John H Sterne Jr
Director
- Total calculated
- $0
- Hours/week
- 3
-
Gertrude J Prior
vice chairman, treasurer, DIR
- Total calculated
- $0
- Hours/week
- 5
-
Robert L KellarROBERT L KELLAR
PRESIDENT DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Cornelius B PriorCORNELIUS B PRIOR
CHAIRMAN SECRETARY DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
501(C)(3) · GRANTMAKING · VI
Directly controlled by NA
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
Coral World (VI) Inc
S CORP · MARINE PARK/ AQUA · VI · 0% owned · share of income $0 · share of assets $0
Directly controlled by NA
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 17 August 2026
- IRS schema version
- 2024v5.2
- Source object
- 202612309349300201
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