Totals
- Total revenue
- $20,841,881
- Total expenses
- $22,236,813
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $19,899,035
- Investment income
- $916,168
- Other revenue
- $26,678
- Total assets, end of year
- $258,633,848
- Total liabilities, end of year
- $270,507,756
- Net assets or fund balances, end of year
- -$11,873,908
- Program services expenses (Part IX)
- $19,910,538
- Management and general expenses
- $2,326,275
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $19,910,538
Program services were 89.5% 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.
-
2a · Program service revenue: FACILITY FEE INCOME
total $19,899,035 · related or exempt $19,899,035
-
3 · Investment income
total $916,168 · excluded $916,168
-
11a · Other revenue: REFUNDS/REIMBURSEMENTS
total $26,678 · excluded $26,678
-
11e · Other revenue, total
$26,678
Functional expenses
Part IX, the statement of functional expenses.
-
11b · Fees: legal
total $27,332 · management and general $27,332
-
11c · Fees: accounting
total $47,586 · management and general $47,586
-
11g · Fees: other
total $427,789 · program services $356,646 · management and general $71,143
-
13 · Office expenses
total $21,892 · program services $21,892
-
16 · Occupancy
total $3,548,517 · program services $3,548,517
-
20 · Interest
total $10,003,450 · program services $10,003,450
-
22 · Depreciation, depletion and amortization
total $5,901,348 · program services $5,901,348
-
23 · Insurance
total $280,214 · management and general $280,214
-
24a · Other expenses: BAD DEBT
total $1,900,000 · management and general $1,900,000
-
24b · Other expenses: OTHER EXPENSES
total $78,685 · program services $78,685
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $590,381 · end of year $0
-
2 · Savings and temporary cash investments
beginning of year $20,866,083 · end of year $20,306,509
-
4 · Accounts receivable
beginning of year $11,987 · end of year $39,205
-
9 · Prepaid expenses and deferred charges
beginning of year $142,491 · end of year $268,661
-
10a · Land, buildings and equipment: cost or other basis
$207,522,213
-
10b · Land, buildings and equipment: accumulated depreciation
$44,029,575
-
10c · Land, buildings and equipment, net
beginning of year $168,656,127 · end of year $163,492,638
-
15 · Other assets
beginning of year $74,949,289 · end of year $74,526,835
-
17 · Accounts payable and accrued expenses
beginning of year $908,030 · end of year $2,126,546
-
19 · Deferred revenue
beginning of year $1,701,518 · end of year $62,144
-
20 · Tax-exempt bond liabilities
beginning of year $193,694,026 · end of year $189,828,990
-
23 · Secured mortgages and notes payable
beginning of year $13,395,000 · end of year $12,474,408
-
25 · Other liabilities
beginning of year $65,996,760 · end of year $66,015,668
-
27 · Net assets without donor restrictions
beginning of year -$10,478,976 · end of year -$11,873,908
Mission and programs · 2024
Mission
LAUNCHPAD DEVELOPMENT COMPANY IS A SUPPORTING ORGANIZATION OF ROCKETSHIP EDUCATION, A CALIFORNIA NONPROFIT PUBLIC BENEFIT CORPORATION.
Activities or mission (Part I)
LAUNCHPAD DEVELOPMENT COMPANY IS A SUPPORTING ORGANIZATION OF ROCKETSHIP EDUCATION.
-
LAUNCHPAD DEVELOPMENT COMPANY PROVIDES FACILITIES AND DEVELOPMENT SERVICES FOR ROCKETSHIP EDUCATION. THE ORGANIZATION IS SOLE MEMBER OF TWENTY-FOUR MANAGED LLCS. EACH LLC IS ORGANIZED TO CONSTRUCT, HOLD, AND MANAGE SCHOOL FACILITIES FOR ROCKETSHIP EDUCATION.
Expenses $19,910,538 · Revenue $19,899,035
As filed on the 2024 return.
Listed in Part VII
-
Benjamin CarsonBENJAMIN CARSON
EXECUTIVE DIRECTOR
- Total calculated
- $288,443
- From this org
- $0
- From related orgs
- $273,284
- Other
- $15,159
- Hours/week
- 5 + 50 related
Schedule J breakdown matched by us
- Base
- $0 + $273,284 related
- Bonus
- $0
- Other
- $0
- Deferred
- $0 + $7,746 related
- Nontaxable benefits
- $0 + $7,413 related
- Filer's total
- $0 + $288,443 related
-
Tadd MillerTADD MILLER
PRESIDENT
- Total calculated
- $0
- Hours/week
- 0.5
-
Laura KozelLAURA KOZEL
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Derwin SisnettDERWIN SISNETT
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 2 related
-
Abraham LeeABRAHAM LEE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Marcus GoodwinMARCUS GOODWIN
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Charmaine DetweilerCHARMAINE DETWEILER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5 + 2 related
-
Jeffrey WinakerJEFFREY WINAKER
DIRECTOR
- 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. 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
The filer's explanations (Part III)
- PART I, LINE 3
- THE ORGANIZATION HAS A SERVICE AGREEMENT WITH ROCKETSHIP EDUCATION, RELATED ENTITY, AND THE CEO IS COMPENSATED BY THE RELATED ENTITY. THE METHODS USED BY THE RELATED ENTITY TO ESTABLISH COMPENSATION INCLUDE A WRITTEN EMPLOYMENT CONTRACT, COMPENSATION STUDY, AND APPROVAL BY THE BOARD.
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.
-
501(C)(3) · CHARTER SCHOOL · CA
-
ROCKETSHIP EDUCATION WISCONSIN INC
501(C)(3) · CHARTER SCHOOL · WI
Directly controlled by ROCKETSHIP EDUCATION
-
ROCKETSHIP EDUCATION DC PUBLIC CHARTER SCHOOL
501(C)(3) · CHARTER SCHOOL · DC
Directly controlled by ROCKETSHIP EDUCATION
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.
-
LAUNCHPAD DEVELOPMENT ONE LLC
SCHOOL FACILITY · CA · income $848,198 · assets $7,750,835
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT TWO LLC
SCHOOL FACILITY · CA · income $606,579 · assets $6,365,410
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT THREE LLC
SCHOOL FACILITY · CA · income $805,143 · assets $8,035,614
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT FOUR LLC
SCHOOL FACILITY · CA · income $907,976 · assets $5,740,252
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT FIVE LLC
SCHOOL FACILITY · CA · income $687,085 · assets $7,815,703
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT EIGHT LLC
SCHOOL FACILITY · CA · income $706,942 · assets $5,531,075
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
SCHOOL FACILITY · CA · income $828,945 · assets $9,173,587
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT ELEVEN LLC
SCHOOL FACILITY · CA · income $831,159 · assets $8,917,545
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT TWELVE LLC
SCHOOL FACILITY · CA · income $1,098,807 · assets $12,841,783
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT SIXTEEN LLC
SCHOOL FACILITY · CA · income $812,854 · assets $11,340,283
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT SEVENTEEN LLC
SCHOOL FACILITY · CA · income $0 · assets $0
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DEVELOPMENT EIGHTEEN LLC
SCHOOL FACILITY · CA · income $1,114,874 · assets $13,853,537
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DVMPT MILWAUKEE ONE LLC
SCHOOL FACILITY · CA · income $359,382 · assets $5,826,197
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DVMPT MILWAUKEE TWO LLC
SCHOOL FACILITY · CA · income $360,492 · assets $4,709,421
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DVMPT ONE NASHVILLE LLC
SCHOOL FACILITY · CA · income $490,401 · assets $6,636,505
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DVMPT TWO NASHVILLE LLC
SCHOOL FACILITY · CA · income $483,069 · assets $6,356,209
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DVMPT THREE NASHVILLE LLC
SCHOOL FACILITY · TN · income $1,461,895 · assets $23,431,733
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
SCHOOL FACILITY · CA · income $1,878,139 · assets $26,123,503
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
SCHOOL FACILITY · CA · income $1,794,219 · assets $30,566,778
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
SCHOOL FACILITY · CA · income $3,480,759 · assets $57,305,795
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
-
LAUNCHPAD DVMPT MILWAUKEE THREE LLC
SCHOOL FACILITY · CA · income $0 · assets $166,671
Directly controlled by LAUNCHPAD DEVELOPMENT CORP
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 20 April 2026
- IRS schema version
- 2024v5.5
- Source object
- 202631109349301173
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