Civic Intelligence

Persevere Inc

990 • Fiscal year 2019 • EIN 47-1039429

Jan 01, 2019 to Dec 31, 2019 • Filed on Sep 07, 2021

4147 Willow Lake BlvdMemphis, TN 38118

(877) 260-7299

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

$62,460

No earlier filing loaded for comparison.

Net Assets

-$283,589

No earlier filing loaded for comparison.

Liabilities

$346,049

No earlier filing loaded for comparison.

Revenue And Expenses

Revenue

$806,875

No earlier filing loaded for comparison.

Expenses

$1,091,693

No earlier filing loaded for comparison.

Net Income

-$284,818

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0-$1.0MAssets 2019: $62,861Liabilities 2019: $315,206Net Assets 2019: -$252,3452019Assets 2019: $62,460Liabilities 2019: $346,049Net Assets 2019: -$283,5892019Assets 2020: $456,993Liabilities 2020: $1,252,110Net Assets 2020: -$795,1172020Assets 2021: $1,046,910Liabilities 2021: $1,236,394Net Assets 2021: -$189,4842021Assets 2022: $1,619,182Liabilities 2022: $1,115,433Net Assets 2022: $503,7492022Assets 2023: $2,142,122Liabilities 2023: $1,428,162Net Assets 2023: $713,9602023Assets 2024: $1,778,367Liabilities 2024: $1,093,214Net Assets 2024: $685,1532024

Highlighted filing

2019

Assets$62,460
Liabilities$346,049
Net Assets-$283,589

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0MRevenue 2019: $814,374Expenses 2019: $1,067,948Net Income 2019: -$253,5742019Revenue 2019: $806,875Expenses 2019: $1,091,693Net Income 2019: -$284,8182019Revenue 2020: $1,556,181Expenses 2020: $2,067,709Net Income 2020: -$511,5282020Revenue 2021: $4,361,245Expenses 2021: $3,755,612Net Income 2021: $605,6332021Revenue 2022: $6,558,003Expenses 2022: $5,864,770Net Income 2022: $693,2332022Revenue 2023: $11,359,721Expenses 2023: $11,231,143Net Income 2023: $128,5782023Revenue 2024: $12,970,995Expenses 2024: $12,999,802Net Income 2024: -$28,8072024

Highlighted filing

2019

Revenue$806,875
Expenses$1,091,693
Net Income-$284,818
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Sep 7, 2021
Return Version
2019v5.2
Gross Receipts
$806,875
Mission and Program Overview

Mission

Persevere is a national non-profit organization whose mission is to empower justice-involved men and women and individuals at risk for justice involvement to succeed as productive members of society. We do this by helping them develop the skills they need to be employable within the technology industry, either as employees or entrepreneurs, and helping them find jobs in the field. Our goal is to change lives through education, mentoring, and ongoing support.

Persevere is a national non-profit organization whose mission is to empower justice-involved men and women and individuals at risk for justice involvement to succeed as productive members of society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors-$287,000-
Pledges and Grants Receivable$1,000$25,040▲ $24,040
Cash and Non-Interest-Bearing Accounts$229$22,031▲ $21,802
Land, Buildings, and Equipment, Net$0$15,389▲ $15,389
Total Assets$1,229$62,460▲ $61,231
Liabilities
Accounts Payable and Accrued Expenses-$59,049-
Total Liabilities$0$346,049▲ $346,049
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,229$-283,589▼ $284,818
Total Net Assets Fund Balance$1,229$-283,589▼ $284,818
Total Liabilities and Net Assets / Fund Balance$1,229$62,460▲ $61,231

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$8,165$1,633$9,798
Leasehold Improvements$7,224$361$7,585
Compensation and Service Providers

Board Members and Trustees

NameTitle
Sean HosmanFounder/board Chair
Marjorie RistBoard Member
Mark PepperBoard Member
Revenue and Support

Revenue Composition

Contributions and Grants
$806,875
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$21,181
Change in Net Assets
$-284,818

Audited Revenue Reconciliation

Revenue per Audited Statements
$806,875
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$90,461
Total Revenue per Audited Statements
$897,336
Total Revenue per Form 990
$806,875
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,091,693
Total Fundraising Expense$87,548
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Travel$67,442$42,795-$110,237
Office Expenses$91,311$1,621$45$92,977
Occupancy$39,179$363-$39,542
Information Technology$413$29,275$2,000$31,688
Fees for Services Accounting-$15,237-$15,237
Other Expenses$7,444$4,863$85,503$12,307
Insurance-$3,385-$3,385
Depreciation Depletion$1,994--$1,994
All Other Expenses$981$584-$1,565
Fees for Services Legal$42--$42
Total Functional Expenses$888,796$115,349$87,548$1,091,693

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,182,154
Expenses per Audited Statements$1,091,693
Total Expenses per Form 990$1,091,693
Expenses Not Reported on Form 990$90,461
Expenses Not Reported on Financial Statements$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees-$287,000-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Sean hosman and marjorie rist have a business relationship.

Form 990, Part VI, Section B, Line 11B

The draft 990 is emailed to each member of the board of directors for review and comment within a reasonable amount of time. If the director has no comments or requested modifications, the director indicates approval in a return email.

Form 990, Part VI, Section B, Line 12C

Conflicts of interest are disclosed as they are realized. Each year the board reviews conflicts of interest to make sure disclosures are up to date and accurate.

Form 990, Part VI, Section B, Line 15

Compensation for officers and key members are reviewed against similar positions in the industry to determine if they are within market comparables.

Form 990, Part VI, Section C, Line 19

Governing, formation and annual reporting forms are available upon reasonable request made over the phone or email.

Filing and Contact Details

Filer

Filer Name
Persevere
EIN
47-1039429
Phone
8772607299
Address
4147 WILLOW LAKE BLVD, MEMPHIS, TN 38118

Signing Officer

Name
Sean Hosman
Title
Board Chair
Phone
8772607299
Signed
2021-09-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sean Hosman
Formed
2015
Legal Domicile
Ut
Voting Board Members
3
Independent Board Members
2
Employees
0
Volunteers
5

Preparer

Firm
Kraftcpas Pllc
Address
555 GREAT CIRCLE ROAD, NASHVILLE, TN 37228
Preparer
Ken Youngstead
Phone
6152427351
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 5

Total number of individuals employed: persevere does not directly employ any individuals. The organization utilizes a leasing company which directly employs the organization's staff.

Form 990, Item B

Changes to original form 990 include the following: number of independent voting members changed from 1 to 2. Marjorie rist did not receive any compensation from persevere during 2019. Therefore, she is an independent board member. The number of individuals employed in calendar year 2019 and number of employees reported on form w-3 changed from 26 to 0. Persevere does not directly employ any individuals. The organization utilizes a leasing company which directly employs the organization's staff. This also resulted in changes to the statement of functional expense. All salary and wage expense is reported on the amended return in other expenses - leased employees. Part iv line 11f changed from no to yes. The required disclosure is included on schedule d, part xiii. Part iv line 12a changed from no to yes. Various changes were made to part viii and part ix as a result of an independent audit that was performed. Part xii line 2b was changed from no to yes as an audit was performed over the december 31, 2019 financial statements. The schedule a public support schedule was adjusted to include updated revenue numbers after the financial statement audit, along with adjustments to schedule a, part ii, line 5 related to larger gifts to be considered as part of the public support test. The amended return includes a reconciliation of revenue per audited financial statements with revenue per the return on schedule d, part xi and part xii.

Financial Statement Notes

PART X, LINE 2:

Management performs an evaluation of all income tax positions taken or expected to be taken in the course of preparing the corporations income tax returns to determine whether the income tax positions meet a "more likely than not" standard of being sustained under examination by the applicable taxing authorities. Management has performed its evaluation of all income tax positions taken on all open income tax returns and has determined that there were no positions taken that do not meet the "more likely than not" standard. Accordingly, there is no provision for income taxes, penalties or interest receivable or payable relating to uncertain income tax positions in the accompanying financial statements.

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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0MANAGEMENT PERFORMS AN EVALUATION OF ALL INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CORPORATIONS INCOME TAX RETURNS TO DETERMINE WHETHER THE INCOME TAX POSITIONS MEET A "MORE LIKELY THAN NOT" STANDARD OF BEING SUSTAINED UNDER EXAMINATION BY THE APPLICABLE TAXING AUTHORITIES. MANAGEMENT HAS PERFORMED ITS EVALUATION OF ALL INCOME TAX POSITIONS TAKEN ON ALL OPEN INCOME TAX RETURNS AND HAS DETERMINED THAT THERE WERE NO POSITIONS TAKEN THAT DO NOT MEET THE "MORE LIKELY THAN NOT" STANDARD. ACCORDINGLY, THERE IS NO PROVISION FOR INCOME TAXES, PENALTIES OR INTEREST RECEIVABLE OR PAYABLE RELATING TO UNCERTAIN INCOME TAX POSITIONS IN THE ACCOMPANYING FINANCIAL STATEMENTS.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
IRS990ScheduleD/TotalBookValueLandBuildingsAmt015389
IRS990ScheduleD/TotalExpensesPerForm990Amt01091693
IRS990ScheduleD/TotalRevenuePerForm990Amt0806875
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0897336
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01182154
IRS990/ScheduleJRequiredInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BalanceDueAmt0287000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/BoardOrCommitteeApprovalInd01
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/DefaultInd00
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanPurposeTxt0STARTUP COSTS
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/LoanToOrganizationInd0X
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/OriginalPrincipalAmt0287000
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/PersonNm0SEAN HOSMAN
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/RelationshipWithOrgTxt0FOUNDER/BOARD CHAIR
IRS990ScheduleL/LoansBtwnOrgInterestedPrsnGrp/WrittenAgreementInd01
IRS990ScheduleL/TotalBalanceDueAmt0287000
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0TOTAL NUMBER OF INDIVIDUALS EMPLOYED: PERSEVERE DOES NOT DIRECTLY EMPLOY ANY INDIVIDUALS. THE ORGANIZATION UTILIZES A LEASING COMPANY WHICH DIRECTLY EMPLOYS THE ORGANIZATION'S STAFF.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SEAN HOSMAN AND MARJORIE RIST HAVE A BUSINESS RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE DRAFT 990 IS EMAILED TO EACH MEMBER OF THE BOARD OF DIRECTORS FOR REVIEW AND COMMENT WITHIN A REASONABLE AMOUNT OF TIME. IF THE DIRECTOR HAS NO COMMENTS OR REQUESTED MODIFICATIONS, THE DIRECTOR INDICATES APPROVAL IN A RETURN EMAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CONFLICTS OF INTEREST ARE DISCLOSED AS THEY ARE REALIZED. EACH YEAR THE BOARD REVIEWS CONFLICTS OF INTEREST TO MAKE SURE DISCLOSURES ARE UP TO DATE AND ACCURATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION FOR OFFICERS AND KEY MEMBERS ARE REVIEWED AGAINST SIMILAR POSITIONS IN THE INDUSTRY TO DETERMINE IF THEY ARE WITHIN MARKET COMPARABLES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING, FORMATION AND ANNUAL REPORTING FORMS ARE AVAILABLE UPON REASONABLE REQUEST MADE OVER THE PHONE OR EMAIL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CHANGES TO ORIGINAL FORM 990 INCLUDE THE FOLLOWING: NUMBER OF INDEPENDENT VOTING MEMBERS CHANGED FROM 1 TO 2. MARJORIE RIST DID NOT RECEIVE ANY COMPENSATION FROM PERSEVERE DURING 2019. THEREFORE, SHE IS AN INDEPENDENT BOARD MEMBER. THE NUMBER OF INDIVIDUALS EMPLOYED IN CALENDAR YEAR 2019 AND NUMBER OF EMPLOYEES REPORTED ON FORM W-3 CHANGED FROM 26 TO 0. PERSEVERE DOES NOT DIRECTLY EMPLOY ANY INDIVIDUALS. THE ORGANIZATION UTILIZES A LEASING COMPANY WHICH DIRECTLY EMPLOYS THE ORGANIZATION'S STAFF. THIS ALSO RESULTED IN CHANGES TO THE STATEMENT OF FUNCTIONAL EXPENSE. ALL SALARY AND WAGE EXPENSE IS REPORTED ON THE AMENDED RETURN IN OTHER EXPENSES - LEASED EMPLOYEES. PART IV LINE 11F CHANGED FROM NO TO YES. THE REQUIRED DISCLOSURE IS INCLUDED ON SCHEDULE D, PART XIII. PART IV LINE 12A CHANGED FROM NO TO YES. VARIOUS CHANGES WERE MADE TO PART VIII AND PART IX AS A RESULT OF AN INDEPENDENT AUDIT THAT WAS PERFORMED. PART XII LINE 2B WAS CHANGED FROM NO TO YES AS AN AUDIT WAS PERFORMED OVER THE DECEMBER 31, 2019 FINANCIAL STATEMENTS. THE SCHEDULE A PUBLIC SUPPORT SCHEDULE WAS ADJUSTED TO INCLUDE UPDATED REVENUE NUMBERS AFTER THE FINANCIAL STATEMENT AUDIT, ALONG WITH ADJUSTMENTS TO SCHEDULE A, PART II, LINE 5 RELATED TO LARGER GIFTS TO BE CONSIDERED AS PART OF THE PUBLIC SUPPORT TEST. THE AMENDED RETURN INCLUDES A RECONCILIATION OF REVENUE PER AUDITED FINANCIAL STATEMENTS WITH REVENUE PER THE RETURN ON SCHEDULE D, PART XI AND PART XII.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART I, LINE 5
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, ITEM B
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0AZ
IRS990/StatesWhereCopyOfReturnIsFldCd1SC
IRS990/StatesWhereCopyOfReturnIsFldCd2TN
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01229
IRS990/TotalAssetsEOYAmt062460
IRS990/TotalAssetsGrp/BOYAmt01229
IRS990/TotalAssetsGrp/EOYAmt062460
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0806875
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt087548
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0115349
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0888796
IRS990/TotalFunctionalExpensesGrp/TotalAmt01091693
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt0346049
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt0346049
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01229
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-283589
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0888796
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0806875
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt05
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01229
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt062460
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt042795
IRS990/TravelGrp/ProgramServicesAmt067442
IRS990/TravelGrp/TotalAmt0110237
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0644 W NORTH TEMPLE SUITE 405
IRS990/USAddress/CityNm0SALT LAKE CITY
IRS990/USAddress/StateAbbreviationCd0UT
IRS990/USAddress/ZIPCd084116
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt02
IRS990/WebsiteAddressTxt0WWW.PERSEVERENOW.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0SEAN HOSMAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0BOARD CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum08772607299
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-09-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PERSEVERE
ReturnHeader/Filer/BusinessNameControlTxt0PERS
ReturnHeader/Filer/EIN0471039429
ReturnHeader/Filer/PhoneNum08772607299
ReturnHeader/Filer/USAddress/AddressLine1Txt04147 WILLOW LAKE BLVD
ReturnHeader/Filer/USAddress/CityNm0MEMPHIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TN
ReturnHeader/Filer/USAddress/ZIPCd038118
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0620713250
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KRAFTCPAS PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0555 GREAT CIRCLE ROAD
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0NASHVILLE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0TN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd037228
ReturnHeader/PreparerPersonGrp/PhoneNum06152427351
ReturnHeader/PreparerPersonGrp/PreparationDt02021-09-07
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KEN YOUNGSTEAD
ReturnHeader/ReturnTs02021-09-29T13:50:05-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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