Civic Intelligence

Rockit Live Foundation Inc.

990 • Fiscal year 2019 • EIN 47-3710988

Jan 01, 2019 to Dec 31, 2019 • Filed on May 19, 2020

Organization ProfileROCKITLIVE.ORG
2 Niles AvenueMiddletown, NJ 07748

(732) 673-2589

Siviq Scores

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

Liabilities / Assets

79th percentile

0.23x

Higher debt load relative to assets than 79% of similar nonprofits.

2019 filings • NTEE A • <$500k nonprofits • Source year 2019

Liabilities / Revenue

68th percentile

0.03x

Higher debt load relative to revenue than 68% of similar nonprofits.

2019 filings • NTEE A • <$500k nonprofits • Source year 2019

Net Margin

29th percentile

-6.1%

Higher net margin than 29% of similar nonprofits.

2019 filings • NTEE A • <$500k nonprofits • Source year 2019

Top Officer Pay

99th percentile

$85,800

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 33.2% of source-year revenue.

2019 filings • NTEE A • <$500k nonprofits • Source year 2019

Asset Growth

21st percentile

-20%

Faster asset growth than 21% of similar nonprofits.

2019 filings • NTEE A • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

28th percentile

-16%

Faster revenue growth than 28% of similar nonprofits.

2019 filings • NTEE A • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets79th percentile

Assets

Down

$36,374

Down $9,060 (-20%) from 2018

Net Assets

Down

$28,049

Down $15,817 (-36%) from 2018

Liabilities

Up

$8,325

Up $6,757 (+431%) from 2018

Revenue And Expenses
Liabilities / Revenue68th percentileNet Margin29th percentile

Revenue

Down

$258,577

Down $50,632 (-16%) from 2018

Expenses

Down

$274,394

Down $12,466 (-4.3%) from 2018

Net Income

Down

-$15,817

Down $38,166 (-171%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth21st percentile

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

$60K$40K$20K$0-$20KAssets 2015: $6,035Net Assets 2015: $6,0352015Assets 2016: $40,355Liabilities 2016: $0Net Assets 2016: $40,3552016Assets 2017: $23,183Liabilities 2017: $1,666Net Assets 2017: $21,5172017Assets 2018: $45,434Liabilities 2018: $1,568Net Assets 2018: $43,8662018Assets 2019: $36,374Liabilities 2019: $8,325Net Assets 2019: $28,0492019Assets 2020: $26,524Liabilities 2020: $241Net Assets 2020: $26,2832020Assets 2021: $11,574Liabilities 2021: $1,148Net Assets 2021: $10,4262021Assets 2022: $2,086Liabilities 2022: $3,090Net Assets 2022: -$1,0042022Assets 2023: $43,081Liabilities 2023: $3,109Net Assets 2023: $39,9722023Assets 2024: $51,999Liabilities 2024: $559Net Assets 2024: $51,4402024

Highlighted filing

2019

Assets$36,374
Liabilities$8,325
Net Assets$28,049
Open 2019 Filing

Operations Trend

Revenue Growth28th percentile

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

$400K$300K$200K$100K$0-$100KRevenue 2015: $58,137Expenses 2015: $52,102Net Income 2015: $6,0352015Revenue 2016: $245,830Expenses 2016: $211,591Net Income 2016: $34,2392016Revenue 2017: $240,281Expenses 2017: $256,846Net Income 2017: -$16,5652017Revenue 2018: $309,209Expenses 2018: $286,860Net Income 2018: $22,3492018Revenue 2019: $258,577Expenses 2019: $274,394Net Income 2019: -$15,8172019Revenue 2020: $221,293Expenses 2020: $223,059Net Income 2020: -$1,7662020Revenue 2021: $234,078Expenses 2021: $249,935Net Income 2021: -$15,8572021Revenue 2022: $260,136Expenses 2022: $271,566Net Income 2022: -$11,4302022Revenue 2023: $299,127Expenses 2023: $258,151Net Income 2023: $40,9762023Revenue 2024: $296,066Expenses 2024: $284,598Net Income 2024: $11,4682024

Highlighted filing

2019

Revenue$258,577
Expenses$274,394
Net Income-$15,817
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
May 19, 2020
Return Version
2019v5.1
Gross Receipts
$282,278
Mission and Program Overview

Mission

Music Instruction/Performance Individual and Group Lessons for Children

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$45,174$34,374▼ $10,800
Prepaid Expenses and Deferred Charges$260--
Total Assets$45,434$36,374▼ $9,060
Other Assets Total-$2,000-
Liabilities
Accounts Payable and Accrued Expenses$1,568$8,325▲ $6,757
Total Liabilities$1,568$8,325▲ $6,757
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$43,866$28,049▼ $15,817
Total Net Assets Fund Balance$43,866$28,049▼ $15,817
Total Liabilities and Net Assets / Fund Balance$45,434$36,374▼ $9,060

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$2,000--
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bruce GallipaniExecutive DirectorFT$85,800$85,800

Board Members and Trustees

NameTitle
Fred FerraraChairperson
Barbara FerraraBoard Member
Bruce ChesebroughBoard Member
Frank PestoreBoard Member
Alyssa GallipaniSecretary
Marge PellicanoTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$58,097
Program Service Revenue
$174,505
Investment Income
$0
Other Revenue
$25,975
All Other Contributions
$28,296
Change in Net Assets
$-15,817
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$197,973
Other Expenses$76,421
Total Fundraising Expense$32,384
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$99,488$4,071-$103,559
Current Officers, Directors, Trustees, and Key Employees$46,372$11,700$15,600$73,672
Payroll Taxes$14,576$1,576$1,559$17,711
Fees for Services Other$14,110$2,150$1,027$17,287
Other Expenses$10,676-$14,112$10,676
Office Expenses-$5,904-$5,904
Fees for Services Accounting-$5,499-$5,499
Other Employee Benefits$2,913$118-$3,031
Insurance-$1,733-$1,733
Advertising$1,727--$1,727
Travel$1,223-$86$1,309
Conferences and Meetings-$809-$809
Occupancy$70--$70
All Other Expenses$29--$29
Total Functional Expenses$208,450$33,560$32,384$274,394
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$49,676
Fundraising Direct Expenses$23,701
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$49,676$49,676$14,190$35,486
Total Events$49,676$49,676$23,701$25,975
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
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
Yes
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2

“Fred and Barbara Ferrara Family Relationship”

Form 990, Part VI, Line 2

“Alyss and Bruce Gallipani Family Relationship”

Form 990, Part VI, Line 11B

“Executive Director provided copyof the 990 for review and discussion with the Board.”

Form 990, Part VI, Line 15B

“Review and approval by the Board for Executive Director compensation.”

Form 990, Part VI, Line 19

“Documents are made available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Rockit Live Foundation Inc
EIN
47-3710988
Phone
7326732589
Address
2 Niles Avenue, Middletown, NJ 07748

Signing Officer

Name
Bruce Gallipani Executive Director
Title
Executive Director
Signed
2020-05-19
Discuss with paid preparer
No

Organization Details

Principal Officer
Bruce Gallipani
Formed
2015
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
6
Employees
7
Volunteers
10

Preparer

Firm
Quantum Business Solutions LLC
Address
10770 NW 66th Street Apt 509, Doral, FL 33178
Preparer
Manuel A Hernandez
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 4D

“Revenue for other program services merchandise sales”

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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueOtherAssetsAmt02000
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt023701
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0Gala
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageEvent1Amt03976
IRS990ScheduleG/FundraisingEventInformationGrp/FoodAndBeverageTotalEventsAmt03976
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt049676
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt049676
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt049676
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt049676
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt025975
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt014190
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt014190
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt05535
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt05535
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Revenue for other program services merchandise sales
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Fred and Barbara Ferrara Family Relationship
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2Alyss and Bruce Gallipani Family Relationship
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Executive Director provided copyof the 990 for review and discussion with the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Review and approval by the Board for Executive Director compensation.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Documents are made available to the public upon request.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part III, Line 4d
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part VI, Line 19
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt045434
IRS990/TotalAssetsEOYAmt036374
IRS990/TotalAssetsGrp/BOYAmt045434
IRS990/TotalAssetsGrp/EOYAmt036374
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt058097
IRS990/TotalEmployeeCnt07
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt032384
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt033560
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0208450
IRS990/TotalFunctionalExpensesGrp/TotalAmt0274394
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt01568
IRS990/TotalLiabilitiesEOYAmt08325
IRS990/TotalLiabilitiesGrp/BOYAmt01568
IRS990/TotalLiabilitiesGrp/EOYAmt08325
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt043866
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt028049
IRS990/TotalOtherProgSrvcRevenueAmt010035
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt0174505
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0174505
IRS990/TotalProgramServiceExpensesAmt0208450
IRS990/TotalProgramServiceRevenueAmt0174505
IRS990/TotalReportableCompFromOrgAmt085800
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0174505
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0258577
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt045434
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt036374
IRS990/TravelGrp/FundraisingAmt086
IRS990/TravelGrp/ProgramServicesAmt01223
IRS990/TravelGrp/TotalAmt01309
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02 NIles Avenue
IRS990/USAddress/CityNm0Middletown
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007748
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt06
IRS990/WebsiteAddressTxt0ROCKITLIVE.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Bruce Gallipani Executive Director
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-05-19
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Rockit Live Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0ROCK
ReturnHeader/Filer/EIN0473710988
ReturnHeader/Filer/PhoneNum07326732589
ReturnHeader/Filer/USAddress/AddressLine1Txt02 Niles Avenue
ReturnHeader/Filer/USAddress/CityNm0Middletown
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd007748
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0F7990281C271AB3F7A3EC46CF5C22F981E55E1BE
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId031BCDC76400B0E01961AFA6731C2F6E941A43152
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt073.85.193.113
ReturnHeader/FilingSecurityInformation/IPDt02020-05-19
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm021:31:38
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Quantum Business Solutions LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt010770 NW 66th Street Apt 509
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Doral
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0FL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd033178
ReturnHeader/PreparerPersonGrp/PreparationDt02020-05-19
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Manuel A Hernandez
ReturnHeader/ReturnTs02020-05-19T07:44:20-00:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$36,374
Liabilities
$8,325
Net assets
$28,049
Revenue
$258,577
Expenses
$274,394
Net income
-$15,817
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.52$0.01$0.51$2.96$2.85$0.11
2023Detailed filing. Detailed filing data is available for this year.$0.43$0.03$0.40$2.99$2.58$0.41
2022Detailed filing. Detailed filing data is available for this year.$0.02$0.03$0.01$2.60$2.72$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.12$0.01$0.10$2.34$2.50$0.16
2020Detailed filing. Detailed filing data is available for this year.$0.27$0.00$0.26$2.21$2.23$0.02
2019Detailed filing. Detailed filing data is available for this year.$0.36$0.08$0.28$2.59$2.74$0.16
2018Detailed filing. Detailed filing data is available for this year.$0.45$0.02$0.44$3.09$2.87$0.22
2017Detailed filing. Detailed filing data is available for this year.$0.23$0.02$0.22$2.40$2.57$0.17
2016Detailed filing. Detailed filing data is available for this year.$0.40$0.00$0.40$2.46$2.12$0.34
2015Detailed filing. Detailed filing data is available for this year.$0.06$0.06$0.58$0.52$0.06