Rocketship Education Dc Inc
- Assets
- $10.5m
- Revenue
- $41.2m
- Investments
- $0.0
- Employees
- 243
- Location
- Redwood City, CA
- Founding
- 02/2016
- Data as of
- 06/2022
- EIN
- 47-3468345
Organization Overview
Rocketship Education Dc Inc is located in Redwood City, CA. The organization was established in 2016. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Rocketship Education DC Inc employed 243 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rocketship Education DC Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Rocketship Education DC Inc generated $41.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 54.3% each year . All expenses for the organization totaled $43.0m during the year ending 06/2022. While expenses have increased by 54.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
A PUBLIC CHARTER SCHOOL WORKING TO ELIMINATE THE ACHIEVEMENT GAP IN PUBLIC EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCKETSHIP DC RISE ACADEMY, A PUBLIC ELEMENTARY CHARTER SCHOOL AT 2335 RAYNOLDS PLACE SE IN WARD 8, AND ROCKETSHIP LEGACY PREP, LOCATED AT 4250 MASSACHUSETTS AVE SE, CONTINUED TO HAVE STRONG ENROLLMENT SERVING MORE STUDENTS AND FAMILIES. ROCKETSHIP PREPARED IN FY2020-21, AND THEN SUCCESSFULLY OPENED ITS THIRD SCHOOL, ROCKETSHIP INFINITY COMMUNITY PREP, IN AUG 2021. ROCKETSHIP WAS ALSO ABLE TO QUICKLY MOVE TO FULLY SERVE STUDENTS AND FAMILIES IN A DISTANCE LEARNING MODEL IN SPRING 2021 WITH STUDENTS HAVING 1:1 ACCESS TO REMOTE TECHNOLOGY, DISTANCE LEARNING CURRICULUM, AND FAMILY SUPPORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Chair | OfficerTrustee | 2 | $0 |
Name Not Listed Board Treasurer | OfficerTrustee | 2 | $0 |
Name Not Listed Board Secretary | OfficerTrustee | 2 | $0 |
Name Not Listed Member | Trustee | 2 | $0 |
Name Not Listed Member | Trustee | 2 | $0 |
Name Not Listed Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sterling Speech Associates Llc Sped Consultants | 6/29/20 | $504,494 |
Kelan Delontee Edwards Sr Security Services | 6/29/20 | $112,163 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $10,755,038 |
| All other contributions, gifts, grants, and similar amounts not included above | $646,880 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,401,918 |
| Total Program Service Revenue | $29,761,716 |
| Investment income | $2,473 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $41,166,107 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $951,882 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,322,954 |
| Pension plan accruals and contributions | $113,065 |
| Other employee benefits | $1,439,369 |
| Payroll taxes | $960,777 |
| Fees for services: Management | $4,699,107 |
| Fees for services: Legal | $242 |
| Fees for services: Accounting | $56,306 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,638,733 |
| Advertising and promotion | $0 |
| Office expenses | $787,514 |
| Information technology | $117,950 |
| Royalties | $0 |
| Occupancy | $9,489,909 |
| Travel | $86,276 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $40,678 |
| All other expenses | $0 |
| Total functional expenses | $42,997,292 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,058,094 |
| Savings and temporary cash investments | $2,607,545 |
| Pledges and grants receivable | $4,753,153 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $73,978 |
| Net Land, buildings, and equipment | $22,574 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,515,344 |
| Accounts payable and accrued expenses | $2,044,445 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,167,397 |
| Total liabilities | $14,211,842 |
| Net assets without donor restrictions | -$3,696,498 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $10,515,344 |