Civic Intelligence

Rocketship Education

EIN 20-4040597 • 501(c)3 • San Jose, CA

Profile

Rocketship education is a national non-profit network of public elementary charter schools serving low-income communities with limited access to excellent schools. Founded in 2006, rocketship education is a 501 (c)(3) non-profit corporation whose mission is to eliminate the achievement gap in underserved communities across the country. 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 catalizing a movement to eliminate the achievement gap in our lifetime.

2001 Gateway Place 230ESan Jose, CA 95110

www.rocketshipschools.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

80th percentile

0.73x

Higher debt load relative to assets than 80% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2023

Liabilities / Revenue

76th percentile

1.05x

Higher debt load relative to revenue than 76% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2023

Net Margin

64th percentile

8.8%

Higher net margin than 64% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Source year 2023

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

99th percentile

235%

Faster asset growth than 99% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Revenue Growth

83rd percentile

25%

Faster revenue growth than 83% of similar nonprofits.

501(c)3 • $250M-$1B nonprofits • Annualized from 2022 to 2023

Assets

Up

$271,375,549

Up $20,139,991 (+8.0%) from 2023

Liabilities

Up

$187,943,541

Up $4,951,323 (+2.7%) from 2023

Net Assets

Up

$83,432,008

Up $15,188,668 (+22%) from 2023

Revenue

Up

$187,005,475

Up $13,107,765 (+7.5%) from 2023

Expenses

Up

$171,816,807

Up $13,203,053 (+8.3%) from 2023

Net Income

Down

$15,188,668

Down $95,288 (-0.6%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2011: $12,127,397Liabilities 2011: $5,733,225Net Assets 2011: $6,394,1722011Assets 2012: $12,696,428Liabilities 2012: $3,678,693Net Assets 2012: $9,017,7352012Assets 2013: $15,362,474Liabilities 2013: $4,461,676Net Assets 2013: $10,900,7982013Assets 2014: $34,855,538Liabilities 2014: $20,708,978Net Assets 2014: $14,146,5602014Assets 2015: $24,286,360Liabilities 2015: $10,317,478Net Assets 2015: $13,968,8822015Assets 2016: $34,089,356Liabilities 2016: $13,483,870Net Assets 2016: $20,605,4862016Assets 2017: $38,324,635Liabilities 2017: $13,695,029Net Assets 2017: $24,629,6062017Assets 2018: $43,045,014Liabilities 2018: $14,028,267Net Assets 2018: $29,016,7472018Assets 2019: $51,425,468Liabilities 2019: $16,061,479Net Assets 2019: $35,363,9892019Assets 2020: $56,664,135Liabilities 2020: $17,932,984Net Assets 2020: $38,731,1512020Assets 2021: $74,871,482Liabilities 2021: $23,893,017Net Assets 2021: $50,978,4652021Assets 2022: $74,996,773Liabilities 2022: $22,037,389Net Assets 2022: $52,959,3842022Assets 2023: $251,235,558Liabilities 2023: $182,992,218Net Assets 2023: $68,243,3402023Assets 2024: $271,375,549Liabilities 2024: $187,943,541Net Assets 2024: $83,432,0082024

Highlighted filing

2024

Assets$271,375,549
Liabilities$187,943,541
Net Assets$83,432,008

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$200M$150M$100M$50M$0-$50MRevenue 2011: $12,922,526Expenses 2011: $7,545,732Net Income 2011: $5,376,7942011Revenue 2012: $13,092,650Expenses 2012: $10,562,837Net Income 2012: $2,529,8132012Expenses 2013: $15,306,2112013Revenue 2014: $51,673,472Expenses 2014: $52,834,999Net Income 2014: -$1,161,5272014Revenue 2015: $63,358,795Expenses 2015: $63,415,729Net Income 2015: -$56,9342015Revenue 2016: $82,957,671Expenses 2016: $76,195,779Net Income 2016: $6,761,8922016Revenue 2017: $91,449,291Expenses 2017: $87,624,693Net Income 2017: $3,824,5982017Revenue 2018: $98,757,579Expenses 2018: $94,370,438Net Income 2018: $4,387,1412018Revenue 2019: $109,048,247Expenses 2019: $102,701,005Net Income 2019: $6,347,2422019Revenue 2020: $111,342,099Expenses 2020: $107,974,937Net Income 2020: $3,367,1622020Revenue 2021: $120,667,231Expenses 2021: $108,334,421Net Income 2021: $12,332,8102021Revenue 2022: $138,926,108Expenses 2022: $136,945,189Net Income 2022: $1,980,9192022Revenue 2023: $173,897,710Expenses 2023: $158,613,754Net Income 2023: $15,283,9562023Revenue 2024: $187,005,475Expenses 2024: $171,816,807Net Income 2024: $15,188,6682024

Highlighted filing

2024

Revenue$187,005,475
Expenses$171,816,807
Net Income$15,188,668

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$271$188$83.4$187$172$15.2
2023Detailed filing. Detailed filing data is available for this year.$251$183$68.2$174$159$15.3
2022Detailed filing. Detailed filing data is available for this year.$75.0$22.0$53.0$139$137$1.98
2021Detailed filing. Detailed filing data is available for this year.$74.9$23.9$51.0$121$108$12.3
2020Detailed filing. Detailed filing data is available for this year.$56.7$17.9$38.7$111$108$3.37
2019Detailed filing. Detailed filing data is available for this year.$51.4$16.1$35.4$109$103$6.35
2018Detailed filing. Detailed filing data is available for this year.$43.0$14.0$29.0$98.8$94.4$4.39
2017Detailed filing. Detailed filing data is available for this year.$38.3$13.7$24.6$91.4$87.6$3.82
2016Detailed filing. Detailed filing data is available for this year.$34.1$13.5$20.6$83.0$76.2$6.76
2015Detailed filing. Detailed filing data is available for this year.$24.3$10.3$14.0$63.4$63.4$0.06
2014Detailed filing. Detailed filing data is available for this year.$34.9$20.7$14.1$51.7$52.8$1.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.4$4.46$10.9$15.3
2012Summary only. Only limited summary data is available for this year.$12.7$3.68$9.02$13.1$10.6$2.53
2011Summary only. Only limited summary data is available for this year.$12.1$5.73$6.39$12.9$7.55$5.38
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
May 4, 2025
Return Version
2023v6.0
Gross Receipts
$187,005,475
Mission and Program Overview

Mission

Rocketship education is a national non-profit network of public elementary charter schools serving low-income communities with limited access to excellent schools. Founded in 2006, rocketship education is a 501 (c)(3) non-profit corporation whose mission is to eliminate the achievement gap in underserved communities across the country. 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 catalizing a movement to eliminate the achievement gap in our lifetime.

Rocketship education is a national non-profit network of public elementary charter schools serving low-income communities with limited access to excellent schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$41,700,785$67,836,917▲ $26,136,132
Accounts Receivable$29,754,914$20,494,778▼ $9,260,136
Cash and Non-Interest-Bearing Accounts$11,773,588$11,757,929▼ $15,659
Other Notes and Loans Receivable, Net$8,366,269$9,995,242▲ $1,628,973
Land, Buildings, and Equipment, Net$5,671,866$5,497,436▼ $174,430
Prepaid Expenses and Deferred Charges$3,881,557$3,548,077▼ $333,480
Pledges and Grants Receivable$849,000$909,333▲ $60,333
Total Assets$251,235,558$271,375,549▲ $20,139,991
Other Assets Total$149,237,579$151,335,837▲ $2,098,258
Liabilities
Other Liabilities$150,845,916$153,267,133▲ $2,421,217
Deferred Revenue$19,677,628$20,534,784▲ $857,156
Accounts Payable and Accrued Expenses$11,678,235$9,591,624▼ $2,086,611
Unsecured Notes Loans Payable$790,439$4,550,000▲ $3,759,561
Total Liabilities$182,992,218$187,943,541▲ $4,951,323
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$68,243,340$82,522,675▲ $14,279,335
Net Assets With Donor Restrictions-$909,333-
Total Net Assets Fund Balance$68,243,340$83,432,008▲ $15,188,668
Total Liabilities and Net Assets / Fund Balance$251,235,558$271,375,549▲ $20,139,991

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$4,079,253$2,251,489$6,330,742
Equipment$1,319,725$1,191,102$2,510,827
Other Land Buildings$98,458$891,364$989,822
Other Assets Org$150,876,540--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Preston SmithCEOFT$346,451$20,944$367,395
Matthew ShawCFO (ended 06/2024)FT$320,000$3,249$323,249
Maria HerediaChief Legal OfficerFT$300,000$3,231$303,231
Lamar WadeChief People OfficerFT$294,250$3,405$297,655
Maricela GuerreroExecutive Director, CaliforniaFT$266,511$18,561$285,072
Stephen CollerChief Strategy OfficerFT$266,346$12,429$278,775
Christopher MurphyChief Communications OfficerFT$250,660$15,972$266,632
Benjamin CarsonCFO (started 06/2024)/ldc Exec. DirectorFT$221,676$8,940$230,616

Board Members and Trustees

NameTitle
Louis JordanBoard Chair
Peter PhilpottBoard Advisor
Greg StangerBoard Secretary
Alex TermanBoard Treasurer
April TaylorDirector
Brian KilbDirector
Charmaine DetweilerDirector
Daniel SanchezDirector
Deborah McgriffDirector
Deja GipsonDirector
Dr Daniel VelascoDirector
Dr Raymond RavenDirector
Hugo CastanedaDirector
Jolene SloterDirector
Julie MillerDirector
June NwabaraDirector
Malka BorregoDirector
Michael FoxDirector
Michelle MercadoDirector
Rajen ShethDirector
Yolanda Bernal SamanoDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Rlcl Acquisition LLCStudent Transportation3009 DICKERSON PIKE, Nashville, TN 37207$1,300,122
The Stepping Stones Group LLCSped Consultants2586 TRAILRIDGE DR E STE 110, Lafayette, CO 80026$357,305
Alejandro SevillaCustodial Services2400 AZURE PLACE, Fairfield, CA 94534$354,350
Cliftonlarsonallen LLPAudit And ConsultingPO BOX 31001-2443, Pasadena, CA 91110$330,747
Quad C Le Holdings LLCSchool Services And ConsultingPO BOX 18228, Palatine, IL 60055$295,324
Revenue and Support

Revenue Composition

Contributions and Grants
$176,435,050
Program Service Revenue
$0
Investment Income
$2,210,264
Other Revenue
$8,360,161
All Other Contributions
$7,676,600
Change in Net Assets
$15,188,668

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded1$2,992,992Fair Market Value (FMV)
Total Noncash Contributions1$2,992,992-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$98,693,528
Other Expenses$73,123,279
Total Fundraising Expense$564,060
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$66,841,256$9,711,719$376,958$76,929,933
Fees for Services Other$20,497,169$4,262,808$75,155$24,835,132
Occupancy$15,792,327$177,513$5,126$15,974,966
Other Employee Benefits$8,653,656$545,155$56,695$9,255,506
Pension Plan Contributions$7,057,735$446,310-$7,504,045
All Other Expenses$4,400,433$2,511,870$23,289$6,935,592
Payroll Taxes$3,198,007$857,569$1,444$4,057,020
Travel$1,968,956$2,053,656$5,588$4,028,200
Office Expenses$2,704,193$815,671$7,330$3,527,194
Information Technology$2,415,171$965,528$2,811$3,383,510
Depreciation Depletion$305,166$1,114,464-$1,419,630
Current Officers, Directors, Trustees, and Key Employees-$947,024-$947,024
Insurance$623,590$116,742-$740,332
Fees for Services Accounting-$682,368-$682,368
Fees for Services Legal-$545,199-$545,199
Other Expenses$184,727$160,369$8,021$345,096
Advertising-$265,705$1,049$266,754
Interest-$91,078$592$91,670
Conferences and Meetings$823$148$2$973
Total Functional Expenses$144,043,508$27,209,239$564,060$171,816,807
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Lease Liabilities - Operating$153,011,654
Accrued Interest$255,479
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by the organization's outside public accounting firm based on information provided by management. Once a draft of the return is available, it is reviewed by management with any changes or revisions incorporated into the filing. The revised return is then submitted to the board of directors for their review prior to submitting to the irs.

Form 990, Part VI, Section B, Line 12C

Monitoring is performed regularly by the officers to identify potential conflicts of interest. Any question of a conflict is addressed with the interested person, who is required to disclose the existence of any financial interest and be afforded the opportunity to disclose all material facts to the board and executive director. If a conflict of interest is identified, the appropriate action is taken, including limitations to the individual's influence on related business matters.

Form 990, Part VI, Section B, Line 15A

The executive director's pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the executive director's compensation as a direct action. The ceo's pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the ceo's compensation as a direct action.

Form 990, Part VI, Section C, Line 19

Our governing documents, conflict of interest policy, and board financial reports are available upon request. Our annual audited financial statements are posted on our website.

Filing and Contact Details

Filer

Filer Name
Rocketship Education
EIN
20-4040597
Phone
8778060920
Address
2001 GATEWAY PLACE 230E, SAN JOSE, CA 95110

Signing Officer

Name
Benjamin Carson
Title
CFO
Phone
8778060920
Signed
2025-05-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Benjamin Carson
Formed
2006
Legal Domicile
CA
Voting Board Members
20
Independent Board Members
20
Employees
1,476
Volunteers
350

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Derrick Debruyne
Phone
6268577300
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

Other fees for services: program service expenses 683,649. Management and general expenses 249,068. Fundraising expenses 9,763. Total expenses 942,480. Consulting expenses: program service expenses 15,182,935. Management and general expenses 3,988,872. Fundraising expenses 56,118. Total expenses 19,227,925. Custodial services: program service expenses 1,664,010. Management and general expenses 24,868. Fundraising expenses 0. Total expenses 1,688,878. Contracted substitutes: program service expenses 2,966,575. Management and general expenses 0. Fundraising expenses 9,274. Total expenses 2,975,849.

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

Financial Statement Notes

PART X, LINE 2:

Rocketship education is a non-profit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. Accordingly, no provision has been made for income taxes. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. Rocketship education files an exempt return in the u.s. Federal jurisdiction and with the california franchise tax board.

Raw XML AppendixShowing 400 of 887 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt25CHIEF PEOPLE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt26EXECUTIVE DIRECTOR, CALIFORNIA
IRS990/Form990PartVIISectionAGrp/TitleTxt27CHIEF STRATEGY OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt28CHIEF COMMUNICATIONS OFFICER
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IRS990/MissionDesc0ROCKETSHIP EDUCATION IS A NATIONAL NON-PROFIT NETWORK OF PUBLIC ELEMENTARY CHARTER SCHOOLS SERVING LOW-INCOME COMMUNITIES WITH LIMITED ACCESS TO EXCELLENT SCHOOLS. FOUNDED IN 2006, ROCKETSHIP EDUCATION IS A 501 (C)(3) NON-PROFIT CORPORATION WHOSE MISSION IS TO ELIMINATE THE ACHIEVEMENT GAP IN UNDERSERVED COMMUNITIES ACROSS THE COUNTRY. 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 CATALIZING A MOVEMENT TO ELIMINATE THE ACHIEVEMENT GAP IN OUR LIFETIME.
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