Rocketship Education DC Inc

Analysis

Rocketship Education DC Inc is a registered charity in United States, based in Redwood City, CA. It received its IRS tax-exemption ruling in February 2016, 10 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 DC Inc reported income of $45.1m and spending of $44.4m, spending 98% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $23.5m to $45.1m (+92%), an average of +18% a year. The sharpest change came in the year to June 2021, when income rose by 24%. Over the whole period it spent 101% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Rocketship Education DC Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include College Track ($45.0m), TLC Academy ($45.2m) and Franklin College of Indiana ($45.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 22% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $1.8m (4.0% of expenses). Other salaries and wages came to $10.9m. At year end it held assets of $126.5m against liabilities of $129.5m, net assets of -$3.0m. It reported 253 employees.