Rocketship Education Wisconsin Inc
- Assets
- $2.3m
- Revenue
- $10.0m
- Investments
- $0.0
- Employees
- 105
- Location
- Redwood City, CA
- Founding
- 03/2015
- Data as of
- 06/2022
- EIN
- 90-0951861
Organization Overview
Rocketship Education Wisconsin Inc is located in Redwood City, CA. The organization was established in 2015. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 06/2022, Rocketship Education Wisconsin Inc employed 105 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rocketship Education Wisconsin 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 Wisconsin Inc generated $10.0m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.3% each year . All expenses for the organization totaled $9.8m during the year ending 06/2022. While expenses have increased by 11.3% 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
ROCKETSHIP EDUCATION WISCONSIN OPERATES CHARTER SCHOOLS IN LOW-INCOME COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ROCKETSHIP EDUCATION WISCONSIN OPERATES ROCKETSHIP EDUCATION PUBLIC SCHOOLS. THESE SCHOOLS SERVE APPROXIMATELY 700 STUDENTS IN THE MILWAUKEE REGION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Preston Smith CEO | Officer | 5 | $0 |
Keysha Bailey CFO (term End 07/21) | Officer | 1 | $0 |
Madelin Hawkins Principal | 40 | $117,448 | |
Kourtney Vang Principal | 40 | $117,589 | |
Katie Townsel Business Operations Manager | 40 | $102,049 | |
Matthew Shaw CFO (start Term 04/22) | Officer | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Milwaukee Center For Independence Student Food Service | 6/29/21 | $412,379 |
Presencelearning Inc Sped Consultants/ Education | 6/29/21 | $239,255 |
Jumpstart Technology It Service | 6/29/21 | $164,959 |
Cooperative Educational Service Agency # Sped Consultants | 6/29/21 | $129,412 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $200,000 |
| Government grants | $9,371,165 |
| All other contributions, gifts, grants, and similar amounts not included above | $393,243 |
| Noncash contributions included in lines 1a–1f | $5,872 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $9,964,408 |
| Total Program Service Revenue | $0 |
| 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 | $10,001,080 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,853,368 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $973,097 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,364,951 |
| 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 | $557,217 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $60,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,456 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $9,840,976 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $802,497 |
| Savings and temporary cash investments | $4,197 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,407,454 |
| 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 | $24,659 |
| Net Land, buildings, and equipment | $88,809 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,327,616 |
| Accounts payable and accrued expenses | $297,273 |
| 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 | $4,310,906 |
| Total liabilities | $4,608,179 |
| Net assets without donor restrictions | -$2,364,421 |
| Net assets with donor restrictions | $83,858 |
| 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 | $2,327,616 |