Civic Intelligence

Rockit Live Foundation Inc.

990 • Fiscal year 2021 • EIN 47-3710988

Jan 01, 2021 to Dec 31, 2021 • Filed on Jun 03, 2022

Organization ProfileRockitacademy.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

70th percentile

0.10x

Higher debt load relative to assets than 70% of similar nonprofits.

2021 filings • NTEE A • <$500k nonprofits • Source year 2021

Liabilities / Revenue

53rd percentile

0.00x

Higher debt load relative to revenue than 53% of similar nonprofits.

2021 filings • NTEE A • <$500k nonprofits • Source year 2021

Net Margin

28th percentile

-6.8%

Higher net margin than 28% of similar nonprofits.

2021 filings • NTEE A • <$500k nonprofits • Source year 2021

Top Officer Pay

99th percentile

$85,800

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 36.7% of source-year revenue.

2021 filings • NTEE A • <$500k nonprofits • Source year 2021

Asset Growth

6th percentile

-56%

Faster asset growth than 6% of similar nonprofits.

2021 filings • NTEE A • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

52nd percentile

5.8%

Faster revenue growth than 52% of similar nonprofits.

2021 filings • NTEE A • <$500k nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets70th percentile

Assets

Down

$11,574

Down $14,950 (-56%) from 2020

Net Assets

Down

$10,426

Down $15,857 (-60%) from 2020

Liabilities

Up

$1,148

Up $907 (+376%) from 2020

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin28th percentile

Revenue

Up

$234,078

Up $12,785 (+5.8%) from 2020

Expenses

Up

$249,935

Up $26,876 (+12%) from 2020

Net Income

Down

-$15,857

Down $14,091 (-798%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth6th 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

2021

Assets$11,574
Liabilities$1,148
Net Assets$10,426
Open 2021 Filing

Operations Trend

Revenue Growth52nd 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

2021

Revenue$234,078
Expenses$249,935
Net Income-$15,857
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Jun 3, 2022
Return Version
2021v4.2
Gross Receipts
$234,078
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$26,524$11,574▼ $14,950
Total Assets$26,524$11,574▼ $14,950
Liabilities
Accounts Payable and Accrued Expenses$241$1,148▲ $907
Total Liabilities$241$1,148▲ $907
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$21,283$10,426▼ $10,857
Net Assets With Donor Restrictions$5,000--
Total Net Assets Fund Balance$26,283$10,426▼ $15,857
Total Liabilities and Net Assets / Fund Balance$26,524$11,574▼ $14,950
Compensation and Service Providers
Top Officer Pay99th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Bruce GallipaniExecutive DirectorFT$85,800$85,800
Samantha GrandeTreasurerPT$4,760$4,760

Board Members and Trustees

NameTitle
Fred FerraraChairperson
Alyssa GallipaniPresident/Secretary
Barbara FerraraBoard Member
Bruce ChesebroughBoard Member
Frank PestoreBoard Member
Marge PellicanoBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$89,774
Program Service Revenue
$144,304
Investment Income
$0
Other Revenue
$0
All Other Contributions
$28,467
Change in Net Assets
$-15,857
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$167,819
Other Expenses$79,866
Total Fundraising Expense$21,316
Professional Fundraising Fees$2,250
Grants and Similar Amounts Paid$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$58,700$11,700$15,400$85,800
Other Salaries and Wages$61,996$1,694-$63,690
Fees for Services Other$43,316--$43,316
Payroll Taxes$11,897$1,180$1,257$14,334
Office Expenses-$10,160-$10,160
Fees for Services Accounting-$6,767-$6,767
Advertising$4,208--$4,208
Other Employee Benefits$2,763$533$699$3,995
Insurance-$2,558-$2,558
Fees for Services Professional Fundraising--$2,250$2,250
Other Expenses$1,927-$1,710$1,710
All Other Expenses$1,029$176-$1,205
Travel$849--$849
Conferences and Meetings-$160-$160
Total Functional Expenses$193,691$34,928$21,316$249,935
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$2,250
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Parents of the TreasurerTax preparation adn accounting softwareNo$1,815
-Brother of the TreasurerVOIP communications system.No$180
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
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
Title
Executive Director
Phone
7326732589
Signed
2022-06-03
Discuss with paid preparer
No

Organization Details

Principal Officer
Bruce Gallipani
Formed
2015
Legal Domicile
Nj
Voting Board Members
8
Independent Board Members
8
Employees
5
Volunteers
10

Preparer

Firm
Quantum Business Solutions LLC
Address
10770 NW 66th Street Apt 509, Doral, FL 33178
Preparer
Manuel A Hernandez
Phone
3059096014
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Detail of fees for other services. Private Lessons PGM 19,022 Rehearsal Fee 1,627 Live Performance 760 Stage Tech Fee 1,977 Scholarship Instruction 4,318 Audition Expense 676 Photo Video 7,423 Venue Costs 6,550 Mdse. 962”

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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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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1Plexus Technology
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Parents of the Treasurer
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1Brother of the Treasurer
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd1false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt01815
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt1180
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Tax preparation adn accounting software
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1VOIP communications system.
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Detail of fees for other services. Private Lessons PGM 19,022 Rehearsal Fee 1,627 Live Performance 760 Stage Tech Fee 1,977 Scholarship Instruction 4,318 Audition Expense 676 Photo Video 7,423 Venue Costs 6,550 Mdse. 962
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part IX, Line 11g
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0NJ
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt026524
IRS990/TotalAssetsEOYAmt011574
IRS990/TotalAssetsGrp/BOYAmt026524
IRS990/TotalAssetsGrp/EOYAmt011574
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt089774
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt021316
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt034928
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0193691
IRS990/TotalFunctionalExpensesGrp/TotalAmt0249935
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0241
IRS990/TotalLiabilitiesEOYAmt01148
IRS990/TotalLiabilitiesGrp/BOYAmt0241
IRS990/TotalLiabilitiesGrp/EOYAmt01148
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt026283
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt010426
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt0144304
IRS990/TotalProgramServiceExpensesAmt0193691
IRS990/TotalProgramServiceRevenueAmt0144304
IRS990/TotalReportableCompFromOrgAmt090560
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0234078
IRS990/TotalVolunteersCnt010
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt026524
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011574
IRS990/TravelGrp/ProgramServicesAmt0849
IRS990/TravelGrp/TotalAmt0849
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02 NIles Avenue
IRS990/USAddress/CityNm0Middletown
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd007748
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0Rockitacademy.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Bruce Gallipani
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Executive Director
ReturnHeader/BusinessOfficerGrp/PhoneNum07326732589
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-06-03
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/PreparerFirmGrp/PreparerFirmEIN0611648618
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/PhoneNum03059096014
ReturnHeader/PreparerPersonGrp/PreparationDt02022-06-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Manuel A Hernandez
ReturnHeader/ReturnTs02022-06-03T04:12:33-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Bruce
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Gallipani
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$11,574
Liabilities
$1,148
Net assets
$10,426
Revenue
$234,078
Expenses
$249,935
Net income
-$15,857
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