Rocketship Education

Analysis

Rocketship Education is a registered charity in United States, based in San Jose, CA. It received its IRS tax-exemption ruling in December 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Rocketship Education reported income of $173.9m and spending of $158.6m, spending 91% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $109.0m to $173.9m (+59%), an average of +12% a year. The sharpest change came in the year to June 2023, when income rose by 25%. Over the whole period it spent 94% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rocketship Education sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within CA. Charities of a similar size with the same main cause include Philadelphia College of Osteopathic Medicine ($173.2m), University of the South ($175.3m) and Aurora University ($172.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $687k (0.4% of expenses). Other salaries and wages came to $70.8m. At year end it held assets of $251.2m against liabilities of $183.0m, net assets of $68.2m. It reported 1,469 employees.