THE CORAL NURSERY OF PUERTO RICO INC

EIN: 660989179 501(c)(3) Environment

HUMACAO, PR

Total Revenue
$108,105
Total Expenses
$15,915
Total Assets
$268,003
Net Assets
$267,884
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
PR
Principal Officer
MARISSA MYER
Phone
4129267073
Tax Period
2023-01-01 to 2023-12-31

THE CORAL NURSERY OF PUERTO RICO INC, founded in 2021, is a small nonprofit in the Environment sector that reported $108K in total revenue in fiscal year 2023. Revenue fell 45% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $92K, a strong 85% operating margin.

Mission

THE ORGANIZATION'S PURPOSE IS TO REPOPULATE CORAL IN THE OCEAN AROUND PUERTO RICO. THE PRIMARY ACTIVITY OF THE ORGANIZATION IS TO GROW CORAL (KNOWN AS 'CORAL RECRUITS') IN A LAND-BASED CORAL NURSERY. THE ORGANIZATION WILL GROW THE CORAL RECRUITS IN TEMPERATURE-CONTROLLED TANKS. WHEN THE CORAL RECRUITS ARE MATURE, THEY WILL BE OUTPLANTED INTO THE OCEAN.

Program Service Accomplishments

Program 1
Revenue: $74,204

IN 2023, THE CORAL NURSERY HAS MADE EXTENSIVE PROGRESS TO BRING OUR MISSION TO LIFE IN PUERTO RICO. DUE TO THE IMMENSE WAITING PERIOD FOR OUR ORIGINAL LAND PARTNERS FOR AN OCEANFRONT PARCEL TO...

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IN 2023, THE CORAL NURSERY HAS MADE EXTENSIVE PROGRESS TO BRING OUR MISSION TO LIFE IN PUERTO RICO. DUE TO THE IMMENSE WAITING PERIOD FOR OUR ORIGINAL LAND PARTNERS FOR AN OCEANFRONT PARCEL TO OPERATE OUR OPEN WATER SYSTEM TO GROW CORALS, WE BEGAN TO LOOK ELSEWHERE FOR A SITE FOR THE NURSERY. DUE TO THE NEED FOR OCEANFRONT LAND, THIS WAS VERY DIFFICULT. LUCKILY, OUR PARTNER DR. VAUGHAN AND ENGINEER BEHIND OUR LAND BASED CORAL NURSERY WAS ABLE TO REDESIGN OUR ENTIRE WATER SYSTEM, ALLOWING OUR CORAL NURSERY TO NOW BE OPERATIONAL AT A SITE INLAND, AND NOT REQUIRE OCEANFRONT LAND. THIS SYSTEM REDESIGN TOOK TIME, AND FUNDS THAT WERE RAISED BY THE CORAL NURSERY TEAM. EVERY DOLLAR HAS BEEN PUT TOWARDS BUILDING THIS CORAL NURSERY TO BRING IT HERE TO PUERTO RICO NOW THAT WE CAN BE LOCATED INLAND, WE HAVE CREATED A NEW PARTNERSHIP WITH THE PALMAS ACADEMY. OUR NEW SITE IS LOCATED ON THE SCHOOL'S LAND. WE ARE WORKING ON SITE PREP, PERMITTING, AND WORKING WITH THE SCHOOL AND LOCAL ARCHITECTS TO CONTINUE MAKING PROGRESS. OTHER THAN PHYSICAL LOCATION AND NURSERY DEVELOPMENT, THE CORAL NURSERY HAS BEEN DEVELOPING A K-12 EDUCATIONAL PROGRAM. JOINING OUR FLAGSHIP INITIATIVES, THIS K-12 AQUACULTURE SCIENCE PROGRAM IS DESIGNED TO IGNITE A PASSION FOR OCEAN CONSERVATION WHILE EQUIPPING STUDENTS WITH VALUABLE SCIENTIFIC AND TECHNICAL SKILLS THEY CAN CARRY WITH THEM THROUGH THEIR CONTINUED EDUCATION AND DAILY LIVES THIS PROGRAM, ALIGNED WITH THE NATIONAL MARINE EDUCATORS ASSOCIATION FRAMEWORK, CONNECTS SCIENCE TO REAL-WORLD CHALLENGES. OUR GOAL IS TO REACH MORE THAN 500 STUDENTS IN HUMACAO, PUERTO RICO, PROVIDING THEM WITH FUN, AGE-APPROPRIATE, HANDS-ON ACTIVITIES FOCUSED ON RESEARCH, DATA COLLECTION, AND CORAL AQUACULTURE. WE'RE THRILLED TO BE AN OFFICIAL PARTNER OF THE PALMAS ACADEMY, WHILE EXPANDING OUR OUTREACH TO OTHER LOCAL SCHOOLS AROUND THE ISLAND, NO LIMITATIONS THIS PROGRAM WAS DEVELOPED VIA RECEIVING A GRANT BY THE CECFL, ALLOWING FOR THE CURRICULUM TO BE WRITTEN. LASTLY, WE'VE HELD COMMUNITY EDUCATIONAL EVENTS, GIVEN MANY CORAL RESTORATION EDUCATIONAL PRESENTATIONS TO GROUPS OF ALL SORTS, AND HELP BEACH CLEANUPS PICKING UP OVER 10,000 LBS. OF TRASH ON THE PUERTO RICAN COASTLINES. WE REMAIN COMMITTED TO THE RESTORATION AND CONSERVATION OF CORAL REEFS IN THE REGION, EMPLOYING BOTH PROACTIVE AND REACTIVE STRATEGIES AS OUTLINED BY THE UNITED NATIONS ENVIRONMENT PROGRAM (UNEP) GUIDELINES AS OUR CORE MISSION, ONE STEP AT A TIME.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $74,204
Program Service Revenue $0
Investment Income $33,901
Other Revenue $0
TOTAL REVENUE $108,105

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Other Expenses $15,915
TOTAL EXPENSES $15,915

Year-over-Year Comparison

2023 2022 Change
Revenue $108,105 $196,297 -0.4%
Expenses $15,915 $10,159 +0.6%
Net Income $92,190 $186,138 -0.5%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DANIEL JOHNSON DIRECTOR N/A
Director
$0 $0 $0
MATTHEW KERZNER DIRECTOR N/A
Director
$0 $0 $0
MARISSA MYER PRESIDENT DI N/A
Director
$0 $0 $0
DOUGLAS YURASKO DIRECTOR N/A
Director
$0 $0 $0
JANET ZEIGER ASSISTANT SE N/A
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $108,105 $15,915 $268,003 $92,190
2022 $196,297 $10,159 $198,061 $186,138
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