Civic Intelligence

Rocketship Five Elementary School

990 • Fiscal year 2013 • EIN 27-2834024

Jul 01, 2012 to Jun 30, 2013 • Filed on May 02, 2014

350 Twin Dolphin DriveRoom/Suite 10994065
Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

87th percentile

0.80x

Higher debt load relative to assets than 87% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2013

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2013

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2013

Asset Growth

94th percentile

66%

Faster asset growth than 94% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Assets

Up

$3,056,789

Up $1,210,192 (+66%) from 2012

Net Assets

Up

$601,037

Up $412,018 (+218%) from 2012

Liabilities

Up

$2,455,752

Up $798,174 (+48%) from 2012

Revenue

-

No earlier filing loaded for comparison.

Expenses

Up

$4,406,957

Up $1,077,430 (+32%) from 2012

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2012: $1,846,597Liabilities 2012: $1,657,578Net Assets 2012: $189,0192012Assets 2013: $3,056,789Liabilities 2013: $2,455,752Net Assets 2013: $601,0372013Assets 2014: $0Liabilities 2014: $0Net Assets 2014: $02014

Highlighted filing

2013

Assets$3,056,789
Liabilities$2,455,752
Net Assets$601,037

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0Expenses 2012: $3,329,5272012Expenses 2013: $4,406,9572013Revenue 2014: $0Expenses 2014: $0Net Income 2014: $02014

Highlighted filing

2013

Revenue-
Expenses$4,406,957
Net Income-
Jump To
Filing Snapshot
Filing Period
Jul 1, 2012 to Jun 30, 2013
Signed
May 2, 2014
Return Version
2012v2.3
Gross Receipts
$4,818,975
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.

Filing and Contact Details

Filer

EIN
27-2834024
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IRS990ScheduleD/Form990ScheduleDPartXIII/Explanation0ROCKETSHIP FIVE ELEMENTARY SCHOOL 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 FIVE ELEMENTARY SCHOOL FILES ALL APPROPRIATE TAX RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA. ROCKETSHIP FIVE ELEMENTARY SCHOOL FILES INFORMATIONAL RETURNS IN THE U.S. FEDERAL JURISDICTION, AND THE STATE OF CALIFORNIA. THE STATUTE OF LIMITATIONS FOR FEDERAL AND CALIFORNIA STATE PURPOSES IS GENERALLY THREE AND FOUR YEARS, RESPECTIVELY.
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IRS990ScheduleE/Form990ScheduleEPartII/Explanation0WE INCLUDE THIS INFORMATION IN THE LOTTERY MATERIALS AND THE NSLP BID MATERIALS THAT WE PROCESS ANNUALLY
IRS990ScheduleE/Form990ScheduleEPartII/Explanation1ORGANIZATION DOES NOT PROVIDE ANY SCHOLARSHIPS OR FINANCIAL ASSISTANCE
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IRS990ScheduleO/GeneralExplanation/Explanation0FOUNDED 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/GeneralExplanation/Explanation1THE 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/GeneralExplanation/Explanation2ROCKETSHIP'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/GeneralExplanation/Explanation3ALL 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/GeneralExplanation/Explanation4FOR THE PRINCIPAL, ROCKETSHIP RECEIVED COMPENSATION DATA FOR COMPARABLE ORGANIZATIONS FROM TWO INDUSTRY SOURCES. THESE SOURCES WERE CONSULTED IN MAKING COMPENSATION DECISIONS.
IRS990ScheduleO/GeneralExplanation/Explanation5FOR THE PRINCIPAL, ROCKETSHIP RECEIVED COMPENSATION DATA FOR COMPARABLE ORGANIZATIONS FROM TWO INDUSTRY SOURCES. THESE SOURCES WERE CONSULTED IN MAKING COMPENSATION DECISIONS.
IRS990ScheduleO/GeneralExplanation/Explanation6OUR 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.
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IRS990ScheduleO/GeneralExplanation/Identifier5COMPENSATION PROCESS FOR OFFICERS
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IRS990ScheduleO/GeneralExplanation/ReturnReference0FORM 990 - ORGANIZATION'S MISSION
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