Civic Intelligence

Rocketship Three Elementary School

EIN 27-0886530 • 501(c)3

Profile

Founded in 2006, rocketship education (www.rsed.org), a non-profit corporation, is building a national network of public elementary charter schools. Rocketship's mission is to eliminate the achievement gap in public education by creating a network of k-5 elementary charter schools in high need neighborhoods in major cities in the united states over the next decade. Each rocketship school operates in an academically underserved community, with a clear and simple goal: that its students achieve grade level proficiency by the time they graduate from elementary school. Rocketship focuses on its three pillars to ensure the success of all of its schools: excellent teachers and leaders, personalized learning, and engaged parents. Rocketship has pioneered a transformative instructional model that combines classroom teaching with tutors and technology to meet each student with the right lesson at the right time.

350 Twin Dolphin DriveRoom/Suite 10994065

www.rsed.org

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on the latest valid filing.

Source year 2014

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on the latest valid filing.

Source year 2014

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on the latest valid filing.

Source year 2014

Top Officer Pay

Score unavailable

No value available

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

Asset Growth

9th percentile

-100%

Faster asset growth than 9% of similar nonprofits.

501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2014

Assets

Down

$0

Down $3,257,629 (-100%) from 2013

Liabilities

Down

$0

Down $2,153,619 (-100%) from 2013

Net Assets

Down

$0

Down $1,104,010 (-100%) from 2013

Revenue

$0

No earlier filing loaded for comparison.

Expenses

Down

$0

Down $4,720,249 (-100%) from 2013

Net Income

$0

No earlier filing loaded for comparison.

Trend Graphs

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $1,982,105Liabilities 2012: $1,316,708Net Assets 2012: $665,3972012Assets 2013: $3,257,629Liabilities 2013: $2,153,619Net Assets 2013: $1,104,0102013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2014

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

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

$6.0M$4.0M$2.0M$0Expenses 2012: $3,751,4652012Expenses 2013: $4,720,2492013Revenue 2014: $0Expenses 2014: $0Net Income 2014: $02014

Highlighted filing

2014

Revenue$0
Expenses$0
Net Income$0

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2013 to Jun 30, 2014
Signed
May 8, 2015
Return Version
2013v4.0
Gross Receipts
$0
Mission and Program Overview

Mission

Founded in 2006, rocketship education (www.rsed.org), a non-profit corporation, is building a national network of public elementary charter schools. Rocketship's mission is to eliminate the achievement gap in public education by creating a network of k-5 elementary charter schools in high need neighborhoods in major cities in the united states over the next decade. Each rocketship school operates in an academically underserved community, with a clear and simple goal: that its students achieve grade level proficiency by the time they graduate from elementary school. Rocketship focuses on its three pillars to ensure the success of all of its schools: excellent teachers and leaders, personalized learning, and engaged parents. Rocketship has pioneered a transformative instructional model that combines classroom teaching with tutors and technology to meet each student with the right lesson at the right time.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$1,659,028--
Cash and Non-Interest-Bearing Accounts$991,065--
Savings and Temporary Cash Investments$167,132--
Land, Buildings, and Equipment, Net$154,594--
Prepaid Expenses and Deferred Charges$35,810--
Total Assets$3,257,629$0▼ $3,257,629
Other Assets Total$250,000--
Liabilities
Unsecured Notes Loans Payable$1,483,070--
Accounts Payable and Accrued Expenses$659,782--
Deferred Revenue$10,767--
Total Liabilities$2,153,619$0▼ $2,153,619
Net Assets / Fund Balance
Unrestricted Net Assets$1,104,010--
Total Net Assets Fund Balance$1,104,010$0▼ $1,104,010
Total Liabilities and Net Assets / Fund Balance$3,257,629$0▼ $3,257,629
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kevin NgoPresident
Alicia GallegosSecretary
Barbara HansenTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$0
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$0
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0
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
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

The organization has a service agreement with rocketship education, a related entity, which provides operational and administrative support to the school. Included in these services provided are data, finance, hr, operations, recruiting and technology.

Form 990, Page 6, Part VI, Line 11B

Rocketship's business committee oversees the preparation of the information needed to prepare the 990 and they will review the form 990; rocketship's full board will approve it before it is submitted to the irs.

Form 990, Page 6, Part VI, Line 12C

All designated employees must file conflict of interest disclsoures by april 1st of each year. Conflict of interest disclosure statements are then forwarded to the county board of supervisors. Conflicts are reviewed and determined by rocketship's board of directors. Designated employees include employees of rocketship and ca public charter schools it operates

Form 990, Page 6, Part VI, Line 15A

For the principal, rocketship received compensation data for comparable organizations from two industry sources. These sources were consulted in making compensation decisions.

Form 990, Page 6, Part VI, Line 15B

For the principal, rocketship received compensation data for comparable organizations from two industry sources. These sources were consulted in making compensation decisions.

Form 990, Page 6, Part VI, 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 school's website.

Filing and Contact Details

Filer

EIN
27-0886530
Phone
8778060920

Signing Officer

Name
Andrew Stern
Title
CBO
Phone
8778060920
Signed
2015-05-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Andrew Stern
Formed
2008
Legal Domicile
CA
Voting Board Members
0
Independent Board Members
0
Employees
0

Preparer

Preparer
Wade Mcmullen CPA
Phone
6268577300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Founded in 2006, rocketship education (www.rsed.org), a non-profit corporation, is building a national network of public elementary charter schools. Rocketship's mission is to eliminate the achievement gap in public education by creating a network of k-5 elementary charter schools in high need neighborhoods in major cities in the united states over the next decade. Each rocketship school operates in an academically underserved community, with a clear and simple goal: that its students achieve grade level proficiency by the time they graduate from elementary school. Rocketship focuses on its three pillars to ensure the success of all of its schools: excellent teachers and leaders, personalized learning, and engaged parents. Rocketship has pioneered a transformative instructional model that combines classroom teaching with tutors and technology to meet each student with the right lesson at the right time.

Form 990, Part XI, Line 9

Transfer of activities to rocketship education 1,104,010

Financial Statement Notes

Schedule D, Page 3, Part X

Rocketship elementary school three is 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 related to this entity. Management has determined that all income tax positions are more likely than not (>50%) of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. Rocketship elementary school three files all appropriate tax returns in the u.s. Federal jurisdiction, and the state of california. Rocketship elementary school three files informational returns in the u.s. Federal jurisdiction, and the states in which it operates, as applicable. The statute of limitations for federal and state purposes is generally three and four years, respectively.

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IRS990/MissionDesc0FOUNDED IN 2006, ROCKETSHIP EDUCATION (WWW.RSED.ORG), A NON-PROFIT CORPORATION, IS BUILDING A NATIONAL NETWORK OF PUBLIC ELEMENTARY CHARTER SCHOOLS. ROCKETSHIP'S MISSION IS TO ELIMINATE THE ACHIEVEMENT GAP IN PUBLIC EDUCATION BY CREATING A NETWORK OF K-5 ELEMENTARY CHARTER SCHOOLS IN HIGH NEED NEIGHBORHOODS IN MAJOR CITIES IN THE UNITED STATES OVER THE NEXT DECADE. EACH ROCKETSHIP SCHOOL OPERATES IN AN ACADEMICALLY UNDERSERVED COMMUNITY, WITH A CLEAR AND SIMPLE GOAL: THAT ITS STUDENTS ACHIEVE GRADE LEVEL PROFICIENCY BY THE TIME THEY GRADUATE FROM ELEMENTARY SCHOOL. ROCKETSHIP FOCUSES ON ITS THREE PILLARS TO ENSURE THE SUCCESS OF ALL OF ITS SCHOOLS: EXCELLENT TEACHERS AND LEADERS, PERSONALIZED LEARNING, AND ENGAGED PARENTS. ROCKETSHIP HAS PIONEERED A TRANSFORMATIVE INSTRUCTIONAL MODEL THAT COMBINES CLASSROOM TEACHING WITH TUTORS AND TECHNOLOGY TO MEET EACH STUDENT WITH THE RIGHT LESSON AT THE RIGHT TIME.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ROCKETSHIP ELEMENTARY SCHOOL THREE IS 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 RELATED TO THIS ENTITY. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT (>50%) OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. ROCKETSHIP ELEMENTARY SCHOOL THREE FILES ALL APPROPRIATE TAX RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA. ROCKETSHIP ELEMENTARY SCHOOL THREE FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATES IN WHICH IT OPERATES, AS APPLICABLE. THE STATUTE OF LIMITATIONS FOR FEDERAL AND STATE PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY.
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0WE INCLUDED THIS INFORMATION IN THE LOTTERY MATERIALS AND THE NSLP BID MATERIALS THAT WE PROCESSED ANNUALLY.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1ORGANIZATION DID NOT PROVIDE ANY SCHOLARSHIPS OR FINANCIAL ASSISTANCE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2AS A PUBLIC CHARTER SCHOOL, ROCKETSHIP WILL RECEIVE A PER ADA FEE FROM THE CALIFORNIA DEPARTMENT OF EDUCATION FOR EVERY PUPIL ATTENDING THE SCHOOL. ADDITIONALLY, ROCKETSHIP IS ELIGIBLE FOR LOCAL, STATE, AND FEDERAL PROGRAMS ADDRESSING OUR STUDENT POPULATION.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FOUNDED IN 2006, ROCKETSHIP EDUCATION (WWW.RSED.ORG), A NON-PROFIT CORPORATION, IS BUILDING A NATIONAL NETWORK OF PUBLIC ELEMENTARY CHARTER SCHOOLS. ROCKETSHIP'S MISSION IS TO ELIMINATE THE ACHIEVEMENT GAP IN PUBLIC EDUCATION BY CREATING A NETWORK OF K-5 ELEMENTARY CHARTER SCHOOLS IN HIGH NEED NEIGHBORHOODS IN MAJOR CITIES IN THE UNITED STATES OVER THE NEXT DECADE. EACH ROCKETSHIP SCHOOL OPERATES IN AN ACADEMICALLY UNDERSERVED COMMUNITY, WITH A CLEAR AND SIMPLE GOAL: THAT ITS STUDENTS ACHIEVE GRADE LEVEL PROFICIENCY BY THE TIME THEY GRADUATE FROM ELEMENTARY SCHOOL. ROCKETSHIP FOCUSES ON ITS THREE PILLARS TO ENSURE THE SUCCESS OF ALL OF ITS SCHOOLS: EXCELLENT TEACHERS AND LEADERS, PERSONALIZED LEARNING, AND ENGAGED PARENTS. ROCKETSHIP HAS PIONEERED A TRANSFORMATIVE INSTRUCTIONAL MODEL THAT COMBINES CLASSROOM TEACHING WITH TUTORS AND TECHNOLOGY TO MEET EACH STUDENT WITH THE RIGHT LESSON AT THE RIGHT TIME.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION HAS A SERVICE AGREEMENT WITH ROCKETSHIP EDUCATION, A RELATED ENTITY, WHICH PROVIDES OPERATIONAL AND ADMINISTRATIVE SUPPORT TO THE SCHOOL. INCLUDED IN THESE SERVICES PROVIDED ARE DATA, FINANCE, HR, OPERATIONS, RECRUITING AND TECHNOLOGY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ROCKETSHIP'S BUSINESS COMMITTEE OVERSEES THE PREPARATION OF THE INFORMATION NEEDED TO PREPARE THE 990 AND THEY WILL REVIEW THE FORM 990; ROCKETSHIP'S FULL BOARD WILL APPROVE IT BEFORE IT IS SUBMITTED TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ALL DESIGNATED EMPLOYEES MUST FILE CONFLICT OF INTEREST DISCLSOURES BY APRIL 1ST OF EACH YEAR. CONFLICT OF INTEREST DISCLOSURE STATEMENTS ARE THEN FORWARDED TO THE COUNTY BOARD OF SUPERVISORS. CONFLICTS ARE REVIEWED AND DETERMINED BY ROCKETSHIP'S BOARD OF DIRECTORS. DESIGNATED EMPLOYEES INCLUDE EMPLOYEES OF ROCKETSHIP AND CA PUBLIC CHARTER SCHOOLS IT OPERATES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4FOR THE PRINCIPAL, ROCKETSHIP RECEIVED COMPENSATION DATA FOR COMPARABLE ORGANIZATIONS FROM TWO INDUSTRY SOURCES. THESE SOURCES WERE CONSULTED IN MAKING COMPENSATION DECISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FOR THE PRINCIPAL, ROCKETSHIP RECEIVED COMPENSATION DATA FOR COMPARABLE ORGANIZATIONS FROM TWO INDUSTRY SOURCES. THESE SOURCES WERE CONSULTED IN MAKING COMPENSATION DECISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6OUR GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND BOARD FINANCIAL REPORTS ARE AVAILABLE UPON REQUEST. OUR ANNUAL AUDITED FINANCIAL STATEMENTS ARE POSTED ON SCHOOL'S WEBSITE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7TRANSFER OF ACTIVITIES TO ROCKETSHIP EDUCATION 1,104,010
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine12LCI SUB-CDE II LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine13LCI SUB-CDE III LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine14LCI SUB-CDE IV LLC
IRS990ScheduleR/IdRelatedOrgTxblPartnershipGrp/RelatedOrganizationName/BusinessNameLine15LAUNCHPAD COMMUNITY INITIATIVES LLC
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine10ROCKETSHIP EDUCATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine11ROCKETSHIP SIX ELEMENTARY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine12ROCKETSHIP EDUCATION WISCONSION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine13LAUNCHPAD DEVELOPMENT COMPANY
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