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Nonprofiteer
← ROCKET GIVING FUND

Form 990 for tax year 2023

Filed by ROCKET GIVING FUND.

Totals

Total revenue
$12,725,111
Total expenses
$12,457,324
Contributions and grants received
$852,420
Grants paid
$36,335
Program service revenue
$11,872,691
Investment income
$0
Other revenue
$0
Total assets, end of year
$2,875,798
Total liabilities, end of year
$3,703,219
Net assets or fund balances, end of year
-$827,421
Program services expenses (Part IX)
$11,249,189
Management and general expenses
$1,208,135
Fundraising expenses
$0
Program service expenses (Part III)
$11,249,189

Program services were 90.3% 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.

  • 1f · All other contributions, gifts and grants

    $852,420

  • 2a · Program service revenue: ROCKET MORTGAGE CLASSIC

    total $11,872,691 · related or exempt $11,872,691

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $36,335 · program services $36,335

  • 11g · Fees: other

    total $709,349 · program services $335,556 · management and general $373,793

  • 12 · Advertising and promotion

    total $652,257 · program services $10,488 · management and general $641,769

  • 13 · Office expenses

    total $2,579,081 · program services $2,560,341 · management and general $18,740

  • 16 · Occupancy

    total $741,952 · program services $632,179 · management and general $109,773

  • 17 · Travel

    total $180,642 · program services $157,393 · management and general $23,249

  • 24a · Other expenses: TOURNAMENT BUILDOUT

    total $5,921,025 · program services $5,921,025

  • 24b · Other expenses: FOOD & BEVERAGES

    total $1,247,684 · program services $1,206,873 · management and general $40,811

  • 24c · Other expenses: OTHER OPERATIONS

    total $280,116 · program services $280,116

  • 24d · Other expenses: EQUIPMENT

    total $108,883 · program services $108,883

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $210,820 · end of year $703,958

  • 3 · Pledges and grants receivable

    beginning of year $392,500 · end of year $525,000

  • 4 · Accounts receivable

    beginning of year $1,952,799 · end of year $1,249,963

  • 8 · Inventories for sale or use

    beginning of year $76,521 · end of year $41,033

  • 9 · Prepaid expenses and deferred charges

    beginning of year $41,311 · end of year $29,422

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

    $613,588

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

    $287,166

  • 10c · Land, buildings and equipment, net

    beginning of year $409,490 · end of year $326,422

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,958,056 · end of year $3,090,216

  • 18 · Grants payable

    beginning of year $726,936 · end of year $0

  • 19 · Deferred revenue

    beginning of year $493,657 · end of year $613,003

  • 27 · Net assets without donor restrictions

    beginning of year -$1,095,208 · end of year -$827,421

Mission and programs · 2023

Mission

THE ROCKET GIVING FUND'S MISSION IS TO HOST A WORLD-CLASS PGA TOUR EVENT WHILE SIMULTANEOUSLY BENEFITING THE DETROIT COMMUNITY. THE ORGANIZATION'S PRIMARY FUNDRAISING ACTIVITY IS THE ROCKET MORTGAGE CLASSIC, DETROIT'S ANNUAL PGA TOUR EVENT. THE NET PROCEEDS REALIZED BY THE EVENT AND OTHER SUCH ACTIVITIES AND EVENTS WILL GO BACK TO THE DETROIT COMMUNITY THROUGH INVESTMENTS RELATED TO VETERANS AND THEIR FAMILIES, EDUCATION AND OPPORTUNITIES FOR LEARNING, AND NEIGHBORHOOD ENHANCEMENT. WHERE POSSIBLE, THE ORGANIZATION WILL WORK IN PARTNERSHIP WITH OTHER CHARITABLE ORGANIZATIONS TO MAXIMIZE COMMUNITY IMPACT. THE ROCKET GIVING FUND IS A 501C3 ORGANIZATION.

Activities or mission (Part I)

THE CORPORATION'S PRINCIPAL OBJECTIVE IS TO SUPPORT THE DETROIT COMMUNITY AND PROMOTE THE IMPROVEMENT AND QUALITY OF LIFE FOR THE PEOPLE OF DETROIT, AND TO PROMOTE THE IMAGE OF DETROIT THROUGHOUT THE COUNTRY THROUGH THE FACILITATION OF COMMUNITY WIDE SPORTING EVENTS INCLUDING, INITIALLY, A PGA TOUR EVENT. 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.

  • 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.

    Expenses $11,249,189 · Grants $36,335 · Revenue $11,872,691

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Brian Brown

    TREASURER

    Total calculated
    $0
    Hours/week
    0.5

  • William Emerson

    PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Matthew Rizik

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    0.5

  • Steve Ogden

    SECRETARY

    Total calculated
    $0
    Hours/week
    0.5

  • Nic Barlage

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Marvin Beatty

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Laura Grannemann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jeff Morganroth

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Trina Scott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jason Tinsley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Mike Tririco

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Alexis Wiley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Varun Krishna

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jason Langwell

    DIRECTOR - PART YEAR

    Total calculated
    $0
    Hours/week
    0.5

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
6 August 2025
IRS schema version
2023v6.0
Source object
202532249349301863

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