Rocket Giving Fund

Analysis

Rocket Giving Fund is a registered charity in United States, based in Detroit, MI. It received its IRS tax-exemption ruling in September 2018, 8 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Rocket Giving Fund reported income of $13.3m and spending of $14.7m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to September 2023, income fell from $15.7m to $13.3m (-15%), an average of -3.9% a year. The sharpest change came in the year to December 2021, when income rose by 68%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Rocket Giving Fund sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 96th percentile within MI. Charities of a similar size with the same main cause include Partners for Kids and Families Inc ($13.3m), Hospice of Washington County Inc ($13.4m) and Ronald McDonald House Chicagoland and Northwest Indiana ($13.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 6.3% and program service revenue 94% of the total. At year end it held assets of $3.1m against liabilities of $4.2m, net assets of -$1.1m.