Launchpad Development Company
- Assets
- $179.6m
- Revenue
- $19.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Redwood City, CA
- Founding
- 11/2010
- Data as of
- 06/2022
- EIN
- 27-1813337
Organization Overview
Launchpad Development Company is located in Redwood City, CA. The organization was established in 2010. According to its NTEE Classification (B19) the organization is classified as: Support N.E.C., under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Launchpad Development Company is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Launchpad Development Company generated $19.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.3% each year. All expenses for the organization totaled $24.9m during the year ending 06/2022. While expenses have increased by 13.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
LAUNCHPAD DEVELOPMENT COMPANY IS A SUPPORTING ORGANIZATION OF ROCKETSHIP EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAUNCHPAD DEVELOPMENT COMPANY PROVIDES FACILITIES AND DEVELOPMENT SERVICES FOR ROCKETSHIP EDUCATION. THE ORGANIZATION IS SOLE MEMBER OF TWENTY-NINE MANAGED LLCS. EACH LLC IS ORGANIZED TO CONSTRUCT, HOLD, AND MANAGE SCHOOL FACILITIES FOR ROCKETSHIP EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Keysha Bailey Rsed Cfo/board Chair (term End 07/21) | OfficerTrustee | 4 | $0 |
Matthew Shaw Rsed CFO (term Start 04/22) | Officer | 4 | $0 |
Jeffrey Winaker Secretary | OfficerTrustee | 1 | $0 |
Tadd Miller Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
K S Mattson Partners Lp Property Managment Services | 6/29/17 | $250,000 |
K2a Llp Architecture | 6/29/17 | $110,404 |
K S Mattson Partners Lp Property Managment Services | 6/29/17 | $250,000 |
K2a Llp Architecture | 6/29/17 | $110,404 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $199,965 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $199,965 |
| Total Program Service Revenue | $19,253,030 |
| Investment income | $17,353 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $95,250 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $19,660,045 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $200,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $157,158 |
| Fees for services: Accounting | $27,482 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $497,292 |
| Advertising and promotion | $0 |
| Office expenses | $47,828 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,120,999 |
| Travel | $510 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,781,602 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,513,180 |
| Insurance | $308,506 |
| All other expenses | $0 |
| Total functional expenses | $24,866,907 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,673,869 |
| Savings and temporary cash investments | $13,130,958 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $857,591 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $314,000 |
| Net Land, buildings, and equipment | $152,071,180 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,533,019 |
| Total assets | $179,580,617 |
| Accounts payable and accrued expenses | $3,454,703 |
| Grants payable | $0 |
| Deferred revenue | $11,343 |
| Tax-exempt bond liabilities | $185,100,270 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,846,752 |
| Total liabilities | $197,413,068 |
| Net assets without donor restrictions | -$17,832,451 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $179,580,617 |