Rocket Giving Fund

Nonprofit profile at a glance

EIN
830873868
IRS 990 coverage
2018–2024
Forms available
Form 990 2024
Location
Detroit, MI, USA
Phone
3137829500
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Official website

Reported finances

Revenue
$11,590,910
Expenses
$13,136,838
Assets
$2,620,083
Liabilities
$4,993,432

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

13 people listed

Executive titles in this filing

  • WILLIAM EMERSON (PRESIDENT)
  • MATTHEW RIZIK (VICE PRESIDENT)

People named in this filing

  • BRIAN BROWN (TREASURER)
  • WILLIAM EMERSON (PRESIDENT)
  • MATTHEW RIZIK (VICE PRESIDENT)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The rocket giving fund's mission is to host a world-class pga tour event while simultaneously benefiting the detroit community. The organization's primary fundraising activity is the rocket classic, detroit's annual pga tour event. The net proceeds realized by the event and other such activities and events will go back to the detroit community through investments related to bridging the digital divide across the city of detroit, and supporting the local community. The rocket giving fund is a 501c3 organization.

What it reported doing in 2024

Rocket classic - the annual golf tournament is a charitable event designed to raise funds for the corporation's charitable mission. The corporation will manage all planning, preparation, and hosting. The tournament and its related activities will be the main source of fundraising, supported by sponsorships, merchandise sales, and donor contributions made before and during the event.

Operating model

Revenue model
Earned-program. 95% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 93% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 82
  • Sustainability: 16
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91.1%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 10th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.1%; rating input score 99; 32nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -13.3%; rating input score 8; 8th percentile among comparable filings
  • Total-asset coverage ratio: 0.2; rating input score 4; 4th percentile among comparable filings
  • Liabilities to assets ratio: 1.91; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 13.3% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 12% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91.1% of spending went to programs
  • Governance: 13 of 13 board members independent · 4 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $12M in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Highest-paid contractors: 5 contractors listed · $7.2M reported
  • Consistency: 22 of 23 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 11 filed money-flow records
  • Related organizations: 10 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 8/100.
  • High — Sustainability: Total-asset coverage ratio scored 4/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.