Civic Intelligence

Perseverance Preparatory Inc

990 • Fiscal year 2020 • EIN 81-3977275

Jul 01, 2019 to Jun 30, 2020 • Filed on Apr 26, 2021

Organization ProfilePERSEVERANCEPREP.ORG
1346 The Alameda Suite 7-340San Jose, CA 95126

(408) 916-3685

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Up

$510,810

Up $301,016 (+143%) from 2019

Net Assets

Up

$212,265

Up $27,668 (+15%) from 2019

Liabilities

Up

$298,545

Up $273,348 (+1085%) from 2019

Revenue And Expenses

Revenue

Up

$862,000

Up $550,576 (+177%) from 2019

Expenses

Up

$796,367

Up $584,219 (+275%) from 2019

Net Income

Down

$65,633

Down $33,643 (-34%) from 2019

Historical Trend

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2018: $87,600Liabilities 2018: $2,279Net Assets 2018: $85,3212018Assets 2019: $209,794Liabilities 2019: $25,197Net Assets 2019: $184,5972019Assets 2020: $510,810Liabilities 2020: $298,545Net Assets 2020: $212,2652020Assets 2021: $596,615Liabilities 2021: $396,705Net Assets 2021: $199,9102021Assets 2022: $565,375Liabilities 2022: $501,665Net Assets 2022: $63,7102022Assets 2024: $263,874Liabilities 2024: $541,192Net Assets 2024: -$277,3182024Assets 2025: $0Liabilities 2025: $336,084Net Assets 2025: -$336,0842025

Highlighted filing

2020

Assets$510,810
Liabilities$298,545
Net Assets$212,265
Open 2020 Filing

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2018: $215,048Expenses 2018: $129,727Net Income 2018: $85,3212018Revenue 2019: $311,424Expenses 2019: $212,148Net Income 2019: $99,2762019Revenue 2020: $862,000Expenses 2020: $796,367Net Income 2020: $65,6332020Revenue 2021: $854,867Expenses 2021: $867,222Net Income 2021: -$12,3552021Revenue 2022: $1,031,984Expenses 2022: $1,168,184Net Income 2022: -$136,2002022Revenue 2024: $39,045Expenses 2024: $759Net Income 2024: $38,2862024Revenue 2025: $41,631Expenses 2025: $100,396Net Income 2025: -$58,7652025

Highlighted filing

2020

Revenue$862,000
Expenses$796,367
Net Income$65,633
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Apr 26, 2021
Return Version
2019v5.2
Gross Receipts
$862,000
Mission and Program Overview

Mission

Perseverance preparatory school prepares scholars in grades 5-8 through rigorous academics, targeted instruction, and service learning for a life of ethical leadership and scholarly success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$72,376$287,251▲ $214,875
Accounts Receivable$81,301$210,036▲ $128,735
Prepaid Expenses and Deferred Charges$18,152$13,523▼ $4,629
Total Assets$171,829$510,810▲ $338,981
Liabilities
Unsecured Notes Loans Payable-$197,300-
Accounts Payable and Accrued Expenses$25,197$84,288▲ $59,091
Tax Exempt Bond Liabilities-$16,957-
Total Liabilities$25,197$298,545▲ $273,348
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$146,632$212,265▲ $65,633
Total Net Assets Fund Balance$146,632$212,265▲ $65,633
Total Liabilities and Net Assets / Fund Balance$171,829$510,810▲ $338,981
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Alexandria LeenataliFounder and Executive DireFT$50,026$50,026

Board Members and Trustees

NameTitle
Lester DeanesBoard Chair
Blanca HerreraBoard Vice Chair
Behshad FarahmandDirector
Jennifer LiMember
Amir AhmariTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$856,112
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$5,888
All Other Contributions
$359,086
Change in Net Assets
$65,633

Audited Revenue Reconciliation

Revenue per Audited Statements
$862,000
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$862,000
Total Revenue per Form 990
$862,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$458,025
Other Expenses$338,342
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$205,464$53,276-$258,740
Current Officers, Directors, Trustees, and Key Employees$85,848$21,462-$107,310
Other Employee Benefits$52,990$11,584-$64,574
Fees for Services Accounting-$63,925-$63,925
Advertising$53,567--$53,567
All Other Expenses$38,390$2,661-$41,051
Payroll Taxes$22,432$4,969-$27,401
Other Expenses$14,207$1,066-$15,273
Fees for Services Legal-$1,778-$1,778
Travel$331--$331
Interest-$81-$81
Total Functional Expenses$589,454$206,913$0$796,367

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$796,367
Total Expenses per Audited Statements$796,367
Total Expenses per Form 990$796,367
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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 8B

“The school has no committees that can act on behalf of the board.”

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

“The school provides a copy of the 990 to the board for review before filing the return.”

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

“Board member are required to disclose conflicts of interest on an ongoing basis.”

Form 990, Part VI, Section B, Line 15

“The executive director's pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the executive director's compensation as a direct action. The officers and key employees' pay is determined based on data provided by external charter management organizations and through comparison studies of other charter schools. The board must vote to approve the officers and key employees' compensation as a direct action. The discussion and compensation decision is documented contemporaneously.”

Form 990, Part VI, Section C, Line 19

“The organization makes their governing documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Perseverance Preparatory Inc
EIN
81-3977275
Phone
4089163685
Address
1346 THE ALAMEDA SUITE 7-340, SAN JOSE, CA 95126

Signing Officer

Name
Alex Leenatali
Title
Founder and Executive Director
Phone
4089163685
Signed
2021-04-26
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alex Leenatali
Formed
2017
Legal Domicile
CA
Voting Board Members
5
Independent Board Members
5
Employees
8
Volunteers
6

Preparer

Firm
Cliftonlarsonallen Llp
Address
2210 EAST ROUTE 66, GLENDORA, CA 91740
Preparer
Wade Mcmullen
Phone
6268577300
Supplemental Narrative

Financial Statement Notes

PART X, LINE 2:

“The school is a nonprofit entity exempt from the payment of income taxes under internal revenue code section 501(c)(3) and california revenue and taxation code section 23701d. Accordingly, no provision has been made for income taxes. Management has determined that all income tax positions are more likely than not of being sustained upon potential audit or examination; therefore, no disclosures of uncertain income tax positions are required. The school is subject to income tax on net income that is derived from business activities that are unrelated to the exempt purposes. The school files an exempt school return and applicable unrelated business income tax return in the u.s. Federal jursidiction and with the california franchise tax board.”

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IRS990/ActivityOrMissionDesc0PERSEVERANCE PREPARATORY SCHOOL PREPARES SCHOLARS IN GRADES 5-8 THROUGH RIGOROUS ACADEMICS, TARGETED INSTRUCTION, AND SERVICE LEARNING FOR A LIFE OF ETHICAL LEADERSHIP AND SCHOLARLY SUCCESS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0FOUNDER AND EXECUTIVE DIRE
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS A NONPROFIT ENTITY EXEMPT FROM THE PAYMENT OF INCOME TAXES UNDER INTERNAL REVENUE CODE SECTION 501(C)(3) AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. ACCORDINGLY, NO PROVISION HAS BEEN MADE FOR INCOME TAXES. MANAGEMENT HAS DETERMINED THAT ALL INCOME TAX POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED UPON POTENTIAL AUDIT OR EXAMINATION; THEREFORE, NO DISCLOSURES OF UNCERTAIN INCOME TAX POSITIONS ARE REQUIRED. THE SCHOOL IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THE EXEMPT PURPOSES. THE SCHOOL FILES AN EXEMPT SCHOOL RETURN AND APPLICABLE UNRELATED BUSINESS INCOME TAX RETURN IN THE U.S. FEDERAL JURSIDICTION AND WITH THE CALIFORNIA FRANCHISE TAX BOARD.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0PART X, LINE 2:
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL IS A CALIFORNIA CHARTER SCHOOL AND FOLLOWS STATE REGULATIONS REGARDING NON-DISCRIMINATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION IS A PUBLIC CHARTER SCHOOL WHICH OPERATES TUITION-FREE. THEREFORE SCHOLARSHIPS AND FINANCIAL ASSISTANCE ARE NOT APPLICABLE.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION RECEIVES FINANCIAL ASSISTANCE FROM THE CALIFORNIA DEPARTMENT OF EDUCATION AS PART OF ITS OPERATION AS A PUBLIC CHARTER SCHOOL.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE SCHOOL HAS NO COMMITTEES THAT CAN ACT ON BEHALF OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL PROVIDES A COPY OF THE 990 TO THE BOARD FOR REVIEW BEFORE FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2BOARD MEMBER ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST ON AN ONGOING BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE EXECUTIVE DIRECTOR'S PAY IS DETERMINED BASED ON DATA PROVIDED BY EXTERNAL CHARTER MANAGEMENT ORGANIZATIONS AND THROUGH COMPARISON STUDIES OF OTHER CHARTER SCHOOLS. THE BOARD MUST VOTE TO APPROVE THE EXECUTIVE DIRECTOR'S COMPENSATION AS A DIRECT ACTION. THE OFFICERS AND KEY EMPLOYEES' PAY IS DETERMINED BASED ON DATA PROVIDED BY EXTERNAL CHARTER MANAGEMENT ORGANIZATIONS AND THROUGH COMPARISON STUDIES OF OTHER CHARTER SCHOOLS. THE BOARD MUST VOTE TO APPROVE THE OFFICERS AND KEY EMPLOYEES' COMPENSATION AS A DIRECT ACTION. THE DISCUSSION AND COMPENSATION DECISION IS DOCUMENTED CONTEMPORANEOUSLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES THEIR GOVERNING DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondLiabilitiesGrp/EOYAmt016957
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0171829
IRS990/TotalAssetsEOYAmt0510810
IRS990/TotalAssetsGrp/BOYAmt0171829
IRS990/TotalAssetsGrp/EOYAmt0510810
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0856112
IRS990/TotalEmployeeCnt08
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0206913
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0589454
IRS990/TotalFunctionalExpensesGrp/TotalAmt0796367
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt025197
IRS990/TotalLiabilitiesEOYAmt0298545
IRS990/TotalLiabilitiesGrp/BOYAmt025197
IRS990/TotalLiabilitiesGrp/EOYAmt0298545
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0146632
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0212265
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0589454
IRS990/TotalReportableCompFromOrgAmt050026
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt05888
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0862000
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt06
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0171829
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0510810
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0331
IRS990/TravelGrp/TotalAmt0331
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0197300
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt01346 THE ALAMEDA SUITE 7-340
IRS990/USAddress/CityNm0SAN JOSE
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd095126
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0PERSEVERANCEPREP.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALEX LEENATALI
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FOUNDER AND EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04089163685
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-04-26
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PERSEVERANCE PREPARATORY INC
ReturnHeader/Filer/BusinessNameControlTxt0PERS
ReturnHeader/Filer/EIN0813977275
ReturnHeader/Filer/PhoneNum04089163685
ReturnHeader/Filer/USAddress/AddressLine1Txt01346 THE ALAMEDA SUITE 7-340
ReturnHeader/Filer/USAddress/CityNm0SAN JOSE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd095126
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0410746749
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0CLIFTONLARSONALLEN LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02210 EAST ROUTE 66
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0GLENDORA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd091740
ReturnHeader/PreparerPersonGrp/PhoneNum06268577300
ReturnHeader/PreparerPersonGrp/PreparationDt02021-04-26
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0WADE MCMULLEN
ReturnHeader/ReturnTs02021-04-28T16:24:01-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-07-01
ReturnHeader/TaxPeriodEndDt02020-06-30
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$510,810
Liabilities
$298,545
Net assets
$212,265
Revenue
$862,000
Expenses
$796,367
Net income
$65,633
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$0.00$0.34$0.34$0.04$0.10$0.06
2024Detailed filing. Detailed filing data is available for this year.$0.26$0.54$0.28$0.04$0.00$0.04
2022Detailed filing. Detailed filing data is available for this year.$0.57$0.50$0.06$1.03$1.17$0.14
2021Detailed filing. Detailed filing data is available for this year.$0.60$0.40$0.20$0.85$0.87$0.01
2020Detailed filing. Detailed filing data is available for this year.$0.51$0.30$0.21$0.86$0.80$0.07
2019Detailed filing. Detailed filing data is available for this year.$0.21$0.03$0.18$0.31$0.21$0.10
2018Detailed filing. Detailed filing data is available for this year.$0.09$0.00$0.09$0.22$0.13$0.09