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Nonprofiteer
← ROCKETSHIP EDUCATION DC INC

Form 990 for tax year 2022

Filed by ROCKETSHIP EDUCATION DC INC.

Totals

Total revenue
$45,066,377
Total expenses
$44,352,062
Contributions and grants received
$9,891,121
Grants paid
$0
Program service revenue
$35,006,276
Investment income
$167,079
Other revenue
$1,901
Total assets, end of year
$126,469,795
Total liabilities, end of year
$129,451,978
Net assets or fund balances, end of year
-$2,982,183
Program services expenses (Part IX)
$37,779,709
Management and general expenses
$6,572,353
Fundraising expenses
$0
Program service expenses (Part III)
$37,779,709

Program services were 85.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $9,783,240

  • 1f · All other contributions, gifts and grants

    $107,881

  • 2a · Program service revenue: PER PUPIL FUNDING

    total $29,063,202 · related or exempt $29,063,202

  • 2b · Program service revenue: FACILITIES ALLOWANCE

    total $5,244,909 · related or exempt $5,244,909

  • 2c · Program service revenue: OTHER STUDENT FEES

    total $698,165 · related or exempt $698,165

  • 3 · Investment income

    total $167,079 · excluded $167,079

  • 11a · Other revenue: MISCELLANEOUS

    total $1,901 · related or exempt $1,901

  • 11e · Other revenue, total

    $1,901

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,763,674 · program services $1,763,674

  • 7 · Other salaries and wages

    total $10,855,418 · program services $10,855,418

  • 8 · Pension plan contributions

    total $105,881 · program services $105,881

  • 9 · Other employee benefits

    total $1,422,279 · program services $1,422,279

  • 10 · Payroll taxes

    total $1,017,348 · program services $1,017,348

  • 11a · Fees: management

    total $5,215,195 · management and general $5,215,195

  • 11c · Fees: accounting

    total $60,963 · program services $60,963

  • 11g · Fees: other

    total $9,133,453 · program services $9,133,453

  • 13 · Office expenses

    total $669,436 · program services $669,436

  • 14 · Information technology

    total $100,817 · program services $100,817

  • 16 · Occupancy

    total $10,047,093 · program services $10,047,093

  • 17 · Travel

    total $134,413 · management and general $134,413

  • 23 · Insurance

    total $119,440 · management and general $119,440

  • 24a · Other expenses: DIRECT STUDENT COSTS

    total $2,565,256 · program services $2,565,256

  • 24b · Other expenses: OTHER OPERATING EXPENSE

    total $726,020 · management and general $726,020

  • 24c · Other expenses: ADMINISTRATIVE FEE

    total $377,285 · management and general $377,285

  • 24d · Other expenses: BANK FEES/LATE CHARGES

    total $24,469 · program services $24,469

  • 24e · All other expenses

    total $13,622 · program services $13,622

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,058,094 · end of year $4,556,333

  • 2 · Savings and temporary cash investments

    beginning of year $2,607,545 · end of year $1,878,800

  • 3 · Pledges and grants receivable

    beginning of year $4,753,153 · end of year $5,450,399

  • 9 · Prepaid expenses and deferred charges

    beginning of year $73,978 · end of year $1,347,555

  • 10a · Land, buildings and equipment: cost or other basis

    $37,220

  • 10b · Land, buildings and equipment: accumulated depreciation

    $22,090

  • 10c · Land, buildings and equipment, net

    beginning of year $22,574 · end of year $15,130

  • 15 · Other assets

    beginning of year $0 · end of year $113,221,578

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,044,445 · end of year $3,753,965

  • 25 · Other liabilities

    beginning of year $12,167,397 · end of year $125,698,013

  • 27 · Net assets without donor restrictions

    beginning of year -$3,696,498 · end of year -$3,032,183

  • 28 · Net assets with donor restrictions

    end of year $50,000

Mission and programs · 2022

Mission

ROCKETSHIP EDUCATION DC PUBLIC CHARTER SCHOOL IS A NON-PROFIT CORPORATION WHOSE MISSION IS TO ELIMINATE THE ACHIEVEMENT GAP BY BUILDING A SCALABLE AND SUSTAINABLE SCHOOL MODEL THAT PROPELS STUDENT ACHIEVEMENT IN UNDERSERVED COMMUNITIES. THE CORE OF ROCKETSHIP'S INSTRUCTIONAL MODEL IS A TEACHER-LED, TECHNOLOGY SUPPORTED APPROACH TO PERSONALIZED LEARNING THAT MATCHES EACH STUDENT WITH THE RIGHT CONTENT AT THE RIGHT TIME UTILIZING THE RIGHT METHOD OF INSTRUCTION. BY DEEPLY ENGAGING PARENTS IN THEIR STUDENT'S LEARNING AND THE SCHOOL COMMUNITY, ROCKETSHIP DEVELOPS PARENTS WHO BECOME LIFELONG ADVOCATES FOR THEIR CHILDREN AND THEIR COMMUNITY. WORKING ALONGSIDE PARENTS, COMMUNITY ORGANIZATIONS, DISTRICTS, AND OTHER CHARTER SCHOOLS, ROCKETSHIP IS CATALYZING A MOVEMENT TO ELIMINATE THE ACHIEVEMENT GAP IN OUR LIFETIME.

Activities or mission (Part I)

A PUBLIC CHARTER SCHOOL WORKING TO ELIMINATE THE ACHIEVEMENT GAP IN PUBLIC EDUCATION.

  • 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.

    Expenses $37,779,709 · Revenue $35,008,177

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Preston Smith

    CEO

    Total calculated
    $343,763
    From this org
    $324,947
    From related orgs
    $0
    Other
    $18,816
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $324,947
    Bonus
    $0
    Other
    $0
    Deferred
    $2,500
    Nontaxable benefits
    $16,316
    Filer's total
    $343,763

  • Lamar Wade

    CHIEF PEOPLE OFFICER

    Total calculated
    $311,474
    From this org
    $308,625
    From related orgs
    $0
    Other
    $2,849
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $308,625
    Bonus
    $0
    Other
    $0
    Deferred
    $2,500
    Nontaxable benefits
    $349
    Filer's total
    $311,474

  • Christopher Murphy

    CHIEF COMMUNICATIONS OFFICER

    Total calculated
    $251,737
    From this org
    $236,730
    From related orgs
    $0
    Other
    $15,007
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $236,730
    Bonus
    $0
    Other
    $0
    Deferred
    $2,500
    Nontaxable benefits
    $12,507
    Filer's total
    $251,737

  • Matt Shaw

    CFO

    Total calculated
    $229,167
    From this org
    $226,667
    From related orgs
    $0
    Other
    $2,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,667
    Bonus
    $0
    Other
    $0
    Deferred
    $2,500
    Nontaxable benefits
    $0
    Filer's total
    $229,167

  • Maria Heredia

    CHIEF LEGAL OFFICER

    Total calculated
    $248,212
    From this org
    $245,712
    From related orgs
    $0
    Other
    $2,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $245,712
    Bonus
    $0
    Other
    $0
    Deferred
    $2,500
    Nontaxable benefits
    $0
    Filer's total
    $248,212

  • Candice Bobo

    DC EXECUTIVE DIRECTOR

    Total calculated
    $213,392
    From this org
    $205,118
    From related orgs
    $0
    Other
    $8,274
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,118
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $8,274
    Filer's total
    $213,392

  • Stephen Coller

    CHIEF STRATEGY OFFICER

    Total calculated
    $190,214
    From this org
    $184,545
    From related orgs
    $0
    Other
    $5,669
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,545
    Bonus
    $0
    Other
    $0
    Deferred
    $2,500
    Nontaxable benefits
    $3,169
    Filer's total
    $190,214

  • Ashlee Watson

    DIRECTOR, SCHOOLS, DC

    Total calculated
    $153,722
    From this org
    $143,469
    From related orgs
    $0
    Other
    $10,253
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,469
    Bonus
    $0
    Other
    $0
    Deferred
    $1,987
    Nontaxable benefits
    $8,266
    Filer's total
    $153,722

  • Marielys Garcia

    CHIEF OF STAFF, DC

    Total calculated
    $134,132
    From this org
    $131,632
    From related orgs
    $0
    Other
    $2,500
    Hours/week
    40

  • Angel McNeil

    DIRECTOR OF ACHIEVEMENT

    Total calculated
    $146,602
    From this org
    $139,407
    From related orgs
    $0
    Other
    $7,195
    Hours/week
    40

  • Jeanice Stewart

    PRINCIPAL

    Total calculated
    $152,859
    From this org
    $134,502
    From related orgs
    $0
    Other
    $18,357
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,502
    Bonus
    $0
    Other
    $0
    Deferred
    $2,500
    Nontaxable benefits
    $15,857
    Filer's total
    $152,859

  • Joey Sloter

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Byron Johnson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Justin Bakewell

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Kamuzu Saunders

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Matthew Aaron

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Melissa Martin

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Zakiya Sackor

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Rena Johnson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

  • Nana Hanson-Hall

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2022
Filed
2 May 2024
IRS schema version
2022v5.0
Source object
202411349349300216

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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