Rockit Live Foundation Inc
- Assets
- $11.6k
- Revenue
- $234.1k
- Investments
- $0.0
- Employees
- 5
- Location
- Middletown, NJ
- Founding
- 06/2015
- Data as of
- 12/2021
- EIN
- 47-3710988
Organization Overview
Rockit Live Foundation Inc is located in Middletown, NJ. The organization was established in 2015. According to its NTEE Classification (A61) the organization is classified as: Performing Arts Centers, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Rockit Live Foundation Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rockit Live Foundation 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 12/2021, Rockit Live Foundation Inc generated $234.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 22.0% each year . All expenses for the organization totaled $249.9k during the year ending 12/2021. While expenses have increased by 25.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MUSIC INSTRUCTION/PERFORMANCE INDIVIDUAL AND GROUP LESSONS FOR CHILDREN
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM TUTION- EXPENSES INCLUDE COSTS FOR INSTRUCTION OF SCHOLARSHIP STUDENTS TOTALING 17,508
PRIVATE LESSONS- EXPENSES INCLUDE INSTRUCTION OF SCHOLARSHIP STUDENTS TOTALING 12,019
LIVE PERFORMANCES AND OTHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Gallipani Executive Director | OfficerTrustee | 40 | $85,800 |
Samantha Grande Treasurer | OfficerTrustee | 10 | $4,760 |
Fred Ferrara Chairperson | OfficerTrustee | 10 | $0 |
Alyssa Gallipani President/secretary | OfficerTrustee | 2 | $0 |
Frank Pestore Board Member | Trustee | 2 | $0 |
Bruce Chesebrough Board Member | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $5,557 |
| Related organizations | $0 |
| Government grants | $55,750 |
| All other contributions, gifts, grants, and similar amounts not included above | $28,467 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $89,774 |
| Total Program Service Revenue | $144,304 |
| Investment income | $0 |
| 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 | $234,078 |
| 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. | $85,800 |
| Compensation of current officers, directors, key employees. | $11,700 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $63,690 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $3,995 |
| Payroll taxes | $14,334 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,767 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $2,250 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $43,316 |
| Advertising and promotion | $4,208 |
| Office expenses | $10,160 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $849 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $160 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,558 |
| All other expenses | $1,205 |
| Total functional expenses | $249,935 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,574 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $11,574 |
| Accounts payable and accrued expenses | $1,148 |
| 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 | $0 |
| Total liabilities | $1,148 |
| Net assets without donor restrictions | $10,426 |
| 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 | $11,574 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Rockit Live Foundation Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Les Paul Foundation Syosset, NY PURPOSE: LIVE MUSIC PROGRAMS | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Carnegie Hall Corporation New York, NY | $718,141,781 | $55,324,262 |
Chautauqua Institution Chautauqua, NY | $271,934,218 | $47,780,826 |
New Jersey Performing Arts Center Corporation Newark, NJ | $266,001,987 | $34,288,526 |
New York City Center Inc New York, NY | $75,936,924 | $33,333,714 |
Mann Center For The Performing Arts Philadelphia, PA | $32,818,014 | $23,395,696 |
Mccarter Theatre Company Princeton, NJ | $28,336,036 | $11,621,825 |
Count Basie Theatre Inc Red Bank, NJ | $61,930,466 | $14,783,970 |
Rochester Broadway Theatre League Inc Rochester, NY | $14,097,725 | $11,757,109 |
Arts Center And Theater Of Schenectady Inc Schenectady, NY | $59,537,808 | $17,534,824 |
Saratoga Springs Performing Arts Center Inc Saratoga Springs, NY | $31,890,328 | $10,810,263 |
Strand-Capitol Performing Arts Center Inc York, PA | $13,276,794 | $10,332,110 |
Symphony Space Inc New York, NY | $23,080,716 | $5,038,783 |