Rocket Giving Fund
- Assets
- $3.1m
- Revenue
- $13.3m
- Investments
- $0.0
- Employees
- 0
- Location
- Detroit, MI
- Founding
- 09/2018
- Data as of
- 09/2023
- EIN
- 83-0873868
Organization Overview
Rocket Giving Fund, operating under the name Rocket Mortgage Classic, is located in Detroit, MI. The organization was established in 2018. According to its NTEE Classification (P12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rocket Mortgage Classic is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2019, Rocket Mortgage Classic has awarded 32 individual grants totaling $6,424,626. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION'S PRINCIPAL OBJECTIVE IS TO SUPPORT THE DETROIT COMMUNITY AND PROMOTE THE IMPROVEMENT AND QUALITY OF LIFE FOR THE PEOPLE OF DETROIT, MICHIGAN COMMUNITY AND TO PROMOTE THE IMAGE OF DETROIT THROUGHOUT THE COUNTRY THROUGH THE FACILITATION OF COMMUNITY WIDE SPORTING EVENTS INCLUDING, INITIALLY, A PGA TOUR EVENT. THE INTENT IS TO AUGMENT OTHER COMMUNITY-WIDE EVENTS AS PART OF AN EFFORT TO BRING OTHER PROMINENT PUBLIC EVENTS TO THE CITY. THROUGH SUPPORT OF ARTS AND CULTURE AND COMMUNITY EVENTS, THE CORPORATION INTENDS TO TRANSFORM AND ACTIVATE PUBLIC SPACES, STRENGTHEN NEIGHBORHOODS AND DEVELOP A VIBRANT URBAN CORE IN THE CITY OF DETROIT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCKET MORTGAGE CLASSIC - AN ANNUAL SPONSORED PGA TOUR GOLF TOURNAMENT TO TAKE PLACE IN DETROIT, MICHIGAN. THE GOLF TOURNAMENT WILL BE STRUCTURED AS A CHARITABLE EVENT WITH THE GOAL OF RAISING SIGNIFICANT FUNDS FOR THE EDUCATIONAL AND CHARITABLE PURPOSES OF THE CORPORATION. THE CORPORATION WILL OPERATE ALL ASPECTS OF THE GOLF TOURNAMENT INCLUDING THE PLANNING, PREPARATION AND HOSTING. THE GOLF TOURNAMENT AND RELATED ACTIVITIES WILL SERVE AS THE PRIMARY FUNDRAISING ACTIVITY IN SUPPORT OF THE CORPORATION'S MISSION. FUNDING WILL ALSO BE GENERATED THROUGH EVENT SPONSORSHIPS, MERCHANDISE SALES AND DONOR GIFTS TO THE CORPORATION THROUGH FUNDRAISING EFFORTS LEADING UP TO AND DURING THE PGA TOUR GOLF TOURNAMENT AND RELATED EVENTS.
ROCKET MORTGAGE CLASSIC - AN ANNUAL SPONSORED PGA TOUR GOLF TOURNAMENT TO TAKE PLACE IN DETROIT, MICHIGAN. THE GOLF TOURNAMENT WILL BE STRUCTURED AS A CHARITABLE EVENT WITH THE GOAL OF RAISING SIGNIFICANT FUNDS FOR THE EDUCATIONAL AND CHARITABLE PURPOSES OF THE CORPORATION. THE CORPORATION WILL OPERATE ALL ASPECTS OF THE GOLF TOURNAMENT INCLUDING THE PLANNING, PREPARATION AND HOSTING. THE GOLF TOURNAMENT AND RELATED ACTIVITIES WILL SERVE AS THE PRIMARY FUNDRAISING ACTIVITY IN SUPPORT OF THE CORPORATION'S MISSION. FUNDING WILL ALSO BE GENERATED THROUGH EVENT SPONSORSHIPS, MERCHANDISE SALES AND DONOR GIFTS TO THE CORPORATION THROUGH FUNDRAISING EFFORTS LEADING UP TO AND DURING THE PGA TOUR GOLF TOURNAMENT AND RELATED EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jay Farner President | OfficerTrustee | 0.5 | $0 |
Julie Booth Treasurer | OfficerTrustee | 0.5 | $0 |
Matthew Rizik Vice Treasurer | OfficerTrustee | 0.5 | $0 |
Steve Ogden Secretary | OfficerTrustee | 0.5 | $0 |
Marvin Beatty Member | Trustee | 0.5 | $0 |
Laura Grannemann Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Universal Mccann Advertising | 9/29/23 | $602,789 |
Detroit Golf Club Inc Course Rental | 9/29/23 | $420,000 |
Medstar Medical Services | 9/29/23 | $142,900 |
Checkmate Tactical Security Services | 9/29/23 | $213,024 |
Intersport Inc Marketing Service | 9/29/23 | $2,073,391 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $846,631 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $846,631 |
| Total Program Service Revenue | $12,496,675 |
| 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 | $13,343,306 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,591,886 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $728,266 |
| Advertising and promotion | $943,855 |
| Office expenses | $2,717,194 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $517,848 |
| Travel | $196,050 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $14,749,530 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $210,820 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $392,500 |
| Accounts receivable, net | $1,952,799 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $76,521 |
| Prepaid expenses and deferred charges | $41,311 |
| Net Land, buildings, and equipment | $409,490 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,083,441 |
| Accounts payable and accrued expenses | $2,958,056 |
| Grants payable | $726,936 |
| Deferred revenue | $493,657 |
| 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 | $4,178,649 |
| Net assets without donor restrictions | -$1,095,208 |
| 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 | $3,083,441 |
Grants Awarded
Over the last fiscal year, Rocket Giving Fund has awarded $1,641,071 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED WAY OF SOUTHEASTERN MICHIGAN PURPOSE: TO SUPPORT THE ORGANIZATIONS MISSION AND THE DETROIT COMMUNITY | $5,000 |
CHILDREN'S FOUNDATION PURPOSE: TO SUPPORT THE ORGANIZATIONS MISSION AND THE DETROIT COMMUNITY | $20,000 |
HORATIO WILLIAMS FOUNDATION PURPOSE: TO SUPPORT THE ORGANIZATIONS MISSION AND THE DETROIT COMMUNITY | $7,076 |
INCLUSIVELY FIT FOUNDATION PURPOSE: TO SUPPORT THE ORGANIZATIONS MISSION AND THE DETROIT COMMUNITY | $9,056 |
THE CHRIST CHILD SOCIETY OF DETROIT PURPOSE: TO SUPPORT THE ORGANIZATIONS MISSION AND THE DETROIT COMMUNITY | $13,354 |
UNITED WAY OF SOUTHEASTERN MICHIGAN PURPOSE: TO SUPPORT THE ORGANIZATIONS MISSION AND THE DETROIT COMMUNITY | $1,221,585 |