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Nonprofiteer
← CORAL RESTORATION FOUNDATION INC

Form 990 for tax year 2023

Filed by CORAL RESTORATION FOUNDATION INC.

Totals

Total revenue
$5,779,827
Total expenses
$5,140,958
Contributions and grants received
$5,517,134
Grants paid
$0
Program service revenue
$46,625
Investment income
$139,020
Other revenue
$77,048
Total assets, end of year
$10,821,900
Total liabilities, end of year
$1,294,757
Net assets or fund balances, end of year
$9,527,143
Program services expenses (Part IX)
$4,233,053
Management and general expenses
$622,131
Fundraising expenses
$285,774
Program service expenses (Part III)
$4,233,053

Program services were 82.3% 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.

  • 1c · Fundraising events

    $175,734

  • 1e · Government grants (contributions)

    $1,900,298

  • 1f · All other contributions, gifts and grants

    $3,441,102

  • 1g · Noncash contributions included above

    $137,057

  • 2a · Program service revenue: DIVE PROGAM

    total $46,625 · related or exempt $46,625

  • 3 · Investment income

    total $139,020 · excluded $139,020

  • 8a · Fundraising events: gross income

    $161,275

  • 8a · Fundraising events: contributions included on line 1c

    $175,734

  • 8b · Fundraising events: direct expenses

    $139,670

  • 8c · Net income from fundraising events

    total $21,605 · excluded $21,605

  • 10a · Gross sales of inventory

    $50,771

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $50,771 · related or exempt $50,771

  • 11a · Other revenue: OTHER INCOME

    total $4,672 · related or exempt $4,672

  • 11e · Other revenue, total

    $4,672

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $212,140 · program services $173,364 · management and general $38,776

  • 7 · Other salaries and wages

    total $2,020,692 · program services $1,598,055 · management and general $213,430 · fundraising $209,207

  • 9 · Other employee benefits

    total $254,369 · program services $212,105 · management and general $29,694 · fundraising $12,570

  • 10 · Payroll taxes

    total $140,602 · program services $107,340 · management and general $18,069 · fundraising $15,193

  • 11b · Fees: legal

    total $700 · program services $700

  • 11c · Fees: accounting

    total $32,000 · management and general $32,000

  • 11g · Fees: other

    total $892,551 · program services $801,609 · management and general $87,802 · fundraising $3,140

  • 12 · Advertising and promotion

    total $102,642 · program services $14,975 · management and general $87,540 · fundraising $127

  • 13 · Office expenses

    total $66,578 · program services $48,949 · management and general $14,638 · fundraising $2,991

  • 14 · Information technology

    total $611,775 · program services $564,381 · management and general $27,294 · fundraising $20,100

  • 16 · Occupancy

    total $60,497 · program services $52,629 · management and general $7,868

  • 17 · Travel

    total $116,586 · program services $106,586 · management and general $8,904 · fundraising $1,096

  • 19 · Conferences, conventions and meetings

    total $7,867 · program services $7,762 · management and general $105

  • 20 · Interest

    total $5,661 · management and general $5,661

  • 22 · Depreciation, depletion and amortization

    total $121,804 · program services $115,948 · management and general $4,058 · fundraising $1,798

  • 23 · Insurance

    total $103,070 · program services $100,094 · management and general $2,976

  • 24a · Other expenses: SUPPLIES & EQUIPMENT

    total $160,813 · program services $137,734 · management and general $22,665 · fundraising $414

  • 24b · Other expenses: REPAIRS AND MAINTENANCE

    total $146,467 · program services $145,611 · management and general $596 · fundraising $260

  • 24c · Other expenses: BANK FEES

    total $26,329 · program services $2,143 · management and general $10,102 · fundraising $14,084

  • 24d · Other expenses: SMALL EQUIPMENT

    total $21,556 · program services $13,163 · management and general $8,393

  • 24e · All other expenses

    total $36,259 · program services $29,905 · management and general $1,560 · fundraising $4,794

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,624,115 · end of year $8,909,789

  • 4 · Accounts receivable

    beginning of year $838,786 · end of year $147,106

  • 8 · Inventories for sale or use

    beginning of year $81,942 · end of year $94,989

  • 9 · Prepaid expenses and deferred charges

    beginning of year $169,151 · end of year $186,682

  • 10a · Land, buildings and equipment: cost or other basis

    $1,850,608

  • 10b · Land, buildings and equipment: accumulated depreciation

    $503,636

  • 10c · Land, buildings and equipment, net

    beginning of year $1,222,018 · end of year $1,346,972

  • 15 · Other assets

    beginning of year $167,620 · end of year $136,362

  • 17 · Accounts payable and accrued expenses

    beginning of year $436,011 · end of year $539,677

  • 19 · Deferred revenue

    beginning of year $1,074,377 · end of year $670,800

  • 23 · Secured mortgages and notes payable

    beginning of year $583,012

  • 25 · Other liabilities

    beginning of year $121,958 · end of year $84,280

  • 27 · Net assets without donor restrictions

    beginning of year $8,685,274 · end of year $9,204,143

  • 28 · Net assets with donor restrictions

    beginning of year $203,000 · end of year $323,000

Mission and programs · 2023

Mission

WE ARE A NOT FOR PROFIT OCEAN CONSERVATION ORGANIZATION WORKING TO RESTORE OUR CORAL REEFS, EDUCATING OTHERS ON THE IMPORTANCE OF OUR OCEANS, AND USING SCIENCE TO FURTHER RESEARCH AND MONITORING TECHNIQUES.

Activities or mission (Part I)

WE ARE A NONPROFIT OCEAN CONSERVATION ORGANIZATION WORKING TO RESTORE OUR CORAL REEFS, EDUCATING OTHERS ON THE IMPORTANCE OF OUR OCEANS, AND USING SCIENCE TO FURTHER RESEARCH AND MONITORING TECHNIQUES.

  • RESTORATIONCREATE OFFSHORE NURSERIES, MAINTAIN, AND OUTPLANT. THROUGH THIS PROGRAM WE ARE ACTIVELY RESTORING OUR CORAL REEFS.

    Expenses $2,041,964

  • SCIENCEDEVELOP NEW INNOVATIVE TECHNIQUES, MONITOR PREVIOUSLY OUTPLANTED COLONIES, AND FACILITATE OUTSIDE COLLABORATIONS

    Expenses $807,002

  • EDUCATIONEDUCATE INDIVIDUALS ON HOW THEY CAN MAKE A DIFFERENCE FROM ANYWHERE IN THE WORLD TO BETTER OUR OCEANS

    Expenses $1,064,818 · Revenue $46,625

  • GLOBALADVOCATE, PROMOTE, AND PROVIDE RESOURCES FOR THE GLOBAL COMMUNITY OF CORAL RESTORATION IMPLEMENTATION.

    Expenses $319,269

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • DR SCOTT WINTERS

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $193,880
    From this org
    $193,880
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,880
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $193,880

  • DAVID WING

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • DAVID SPLITT

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    5

  • PATTI KIRK GROSS

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    4

  • JAMES BOILINI

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • STEPHEN FRINK

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SASCHA SIMON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • CHARLES LYNCH

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CORYDON GILCHRIST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NICK DAVIES

    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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 2 · Substantiation required before reimbursing expenses

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
16 October 2024
IRS schema version
2023v5.1
Source object
202402979349300300

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