The Coral Nursery of Puerto Rico Inc
Nonprofit profile at a glance
- EIN
- 660989179
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024
- Location
- Humacao, PR, USA
- Phone
- 4129267073
- Rating
- 49
- Verdict
- MIXED
- Rating confidence
- Moderate
- Sector
- Natural Resources Conservation and Protection
Reported finances
- Revenue
- $110,887
- Expenses
- $60,128
- Assets
- $429,189
- Liabilities
- $150
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
5 people listed
Executive titles in this filing
- MARISSA MYER (PRESIDENT DI)
People named in this filing
- DANIEL JOHNSON (DIRECTOR)
- MATTHEW KERZNER (DIRECTOR)
- MARISSA MYER (PRESIDENT DI)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
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.
What it reported doing in 2024
In 2024, the coral nursery of puerto rico focused heavily on obtaining the plans, designs, and permits necessary to bring our facility to life. Working closely with v architecture, the palmas academy, and the architectural review board (arb) of palmas del mar, the organization dedicated much of the year to refining blueprints, finalizing site layouts, and advancing the permitting process for our land-based coral nursery. These steps represented critical groundwork for construction and long-term success. Throughout this process, our executive director served entirely on a volunteer basis, dedicating full-time effort to leading operations, managing partnerships, and overseeing all development without compensation. 2024 also marked an important year for organizational growth and local job creation. The coral nursery began interviewing for coral biologist positions to lead scientific operations beginning in 2025, creating meaningful employment opportunities for puerto rican marine biologists. Equally impactful was our extensive community outreach and education. Through numerous beach cleanups, farmers market outreach, and marine science presentations across the island, we connected with hundreds of volunteers, students, and residents who listened, learned, and took part in hands-on activities focused on coral reef conservation. These events not only strengthened environmental awareness but also fostered a growing sense of community pride and shared responsibility for puerto rico's coastal ecosystems. Overall, 2024 was a year of preparation, partnership, and progress-laying the foundation for construction, local job creation, and continued community engagement in coral restoration and marine education.
Operating model
- Revenue model
- Donor-supported. 90% of the money available for current operations came from contributions and gifts.
- Distribution model
- No current program activity. The filing reports no program spending for the current year.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 92
- Accountability: 82
- Sustainability: 82
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 4 of 7 controls in place; rating input score 57
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 45.8%; rating input score 90; 90th percentile among comparable filings
- Total-asset coverage ratio: 7.14; rating input score 85; 85th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 58; 58th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -30.8% per year; rating input score 0; 2nd percentile among comparable filings
- Asset growth: 38.7% per year; rating input score 100; 94th percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 5 of 5 board members independent · 4 of 7 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $0 · 5 people listed
- Consistency: 13 of 13 current checks pass
- Schedules: 4 filed schedules · includes major donors
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Growth: Revenue growth scored 0/100.
- Review — Accountability: Governance controls: 2 of 6 not reported.
- Review — Sustainability: Liabilities to assets ratio scored 58/100.