Civic Intelligence

Perseverance Preparatory Inc

990 • Fiscal year 2024 • EIN 81-3977275

Jul 01, 2023 to Jun 30, 2024 • Filed on Aug 15, 2024

Organization ProfilePERSEVERANCEPREP.ORG
CO Ch 7 Ttee PO Box 4188Mountain View, CA 94040

(650) 386-5634

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

97th percentile

2.05x

Higher debt load relative to assets than 97% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

99th percentile

13.86x

Higher debt load relative to revenue than 99% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Net Margin

99th percentile

98%

Higher net margin than 99% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Top Officer Pay

79th percentile

$0

Higher top officer pay than 79% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2024 filings • 501(c)3 • <$500k nonprofits • Source year 2024

Asset Growth

17th percentile

-32%

Faster asset growth than 17% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2024

Revenue Growth

4th percentile

-81%

Faster revenue growth than 4% of similar nonprofits.

2024 filings • 501(c)3 • <$500k nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets97th percentile

Assets

Down

$263,874

Down $301,501 (-53%) from 2022

Net Assets

Down

-$277,318

Down $341,028 (-535%) from 2022

Liabilities

Up

$541,192

Up $39,527 (+7.9%) from 2022

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin99th percentile

Revenue

Down

$39,045

Down $992,939 (-96%) from 2022

Expenses

Down

$759

Down $1,167,425 (-100%) from 2022

Net Income

Up

$38,286

Up $174,486 (+128%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth17th percentile

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

2024

Assets$263,874
Liabilities$541,192
Net Assets-$277,318
Open 2024 Filing

Operations Trend

Revenue Growth4th percentile

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

2024

Revenue$39,045
Expenses$759
Net Income$38,286
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Aug 15, 2024
Return Version
2023v5.1
Gross Receipts
$39,045
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.

On 9/20/2023, the organization filed ch 7 bankruptcy in san jose, ca - case #23-51070.note that the organization is inactive. The trustee is appointed by the bankruptcy court to administer the estate. This tax return has been prepared based on an analysis of all information including the trustee transactions during the administration of the case.due to limited resources and insufficient access to information, not all of the information requested can be provided.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$28,725$67,010▲ $38,285
Total Assets$225,589$263,874▲ $38,285
Other Assets Total$196,864$196,864→ $0
Liabilities
Accounts Payable and Accrued Expenses$384,422$384,422→ $0
Unsecured Notes Loans Payable$156,770$156,770→ $0
Total Liabilities$541,192$541,192→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-315,603$-277,318▲ $38,285
Total Net Assets Fund Balance$-315,603$-277,318▲ $38,285
Total Liabilities and Net Assets / Fund Balance$225,589$263,874▲ $38,285

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$196,864--
Compensation and Service Providers
Top Officer Pay79th percentile

Board Members and Trustees

NameTitle
Fred HjelmesetCh 7 Trustee
Revenue and Support

Revenue Composition

Contributions and Grants
$39,045
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$38,286
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$759
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses-$54-$54
Total Functional Expenses$0$759$0$759
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
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 8A

“CH 7 BANKRUPTCY”

Form 990, Part VI, Section A, Line 8B

“CH 7 BANKRUPTCY”

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

“On 9/20/2023, the organization filed bankruptcy in san jose, california under the provisions of chapter 7 of the bankruptcy code, and was assigned case number 22-51070.”

Form 990, Part VI, Section B, Line 12

“CH 7 BANKRUPTCY”

Form 990, Part VI, Section B, Line 15

“CH 7 BANKRUPTCY”

Form 990, Part VI, Section C, Line 18

“On 9/20/2023, the organization filed bankruptcy in san jose, california under the provisions of chapter 7 of the bankruptcy code, and was assigned case number 22-51070.”

Form 990, Part VI, Section C, Line 19

“On 9/20/2023, the organization filed bankruptcy in san jose, california under the provisions of chapter 7 of the bankruptcy code, and was assigned case number 22-51070.”

990 Part VI, Line 8A

“Due to the chapter 7 bankruptcy filing the organization has limited resources available to conduct formal meetings, create written actions, etc.”

990 Part VI, Line 8B

“Due to the chapter 7 bankruptcy filing the organization has limited resources available to conduct formal meetings, create written actions, etc.”

Filing and Contact Details

Filer

Filer Name
Perseverance Preparatory Inc
EIN
81-3977275
Phone
6503865634
Address
CO CH 7 TTEE PO BOX 4188, MOUNTAIN VIEW, CA 94040

Signing Officer

Name
Fred Hjelmeset
Title
Chapter 7 Trustee
Phone
6503865634
Signed
2024-08-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fred Hjelmeset
Formed
2017
Legal Domicile
CA
Voting Board Members
0
Independent Board Members
0
Employees
0
Volunteers
0

Preparer

Firm
Bachecki Crom & Co Llp
Address
400 OYSTER POINT BLVD SUITE 106, SOUTH SAN FRANCISCO, CA 94080
Preparer
Austin J Wade
Phone
4153983534
Supplemental Narrative

Financial Statement Notes

Sch D, Part XI & XIII

“On 9/20/2023, the organization filed bankruptcy in san jose, california under the provisions of chapter 7 of the bankruptcy code, and was assigned case number 22-51070. The estate does not currently have any unencumbered funds available to pay for an annual financial statement audit”

Raw XML Appendix289 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0ON 9/20/2023, THE ORGANIZATION FILED CH 7 BANKRUPTCY IN SAN JOSE, CA - CASE #23-51070.NOTE THAT THE ORGANIZATION IS INACTIVE. THE TRUSTEE IS APPOINTED BY THE BANKRUPTCY COURT TO ADMINISTER THE ESTATE. THIS TAX RETURN HAS BEEN PREPARED BASED ON AN ANALYSIS OF ALL INFORMATION INCLUDING THE TRUSTEE TRANSACTIONS DURING THE ADMINISTRATION OF THE CASE.DUE TO LIMITED RESOURCES AND INSUFFICIENT ACCESS TO INFORMATION, NOT ALL OF THE INFORMATION REQUESTED CAN BE PROVIDED.
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IRS990/MissionDesc0ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE AND WAS ASSIGNED CASE NUMBER 23-51070.NOTE THAT THE ORGANIZATION IS INACTIVE. THE TRUSTEE IS APPOINTED BY THE BANKRUPTCY COURT TO ADMINISTER THE ESTATE. THIS TAX RETURN HAS BEEN PREPARED BASED ON AN ANALYSIS OF ALL INFORMATION INCLUDING THE TRUSTEE TRANSACTIONS DURING THE ADMINISTRATION OF THE CASE.DUE TO LIMITED RESOURCES AND INSUFFICIENT ACCESS TO INFORMATION, NOT ALL OF THE INFORMATION REQUESTED CAN BE PROVIDED.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CHAPTER 7 BANKRUPTCY FILED 9/20/2023 - CASE #23-51070
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART VI
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd00
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IRS990ScheduleD/OtherAssetsOrgGrp/Desc0ERC TAX REFUNDS
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070. THE ESTATE DOES NOT CURRENTLY HAVE ANY UNENCUMBERED FUNDS AVAILABLE TO PAY FOR AN ANNUAL FINANCIAL STATEMENT AUDIT
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCH D, PART XI & XIII
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IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt3ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt4ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 5
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE E, PART I, LINE 6
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc4SCHEDULE E, PART I, LINE 7
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1CH 7 BANKRUPTCY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3CH 7 BANKRUPTCY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CH 7 BANKRUPTCY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6ON 9/20/2023, THE ORGANIZATION FILED BANKRUPTCY IN SAN JOSE, CALIFORNIA UNDER THE PROVISIONS OF CHAPTER 7 OF THE BANKRUPTCY CODE, AND WAS ASSIGNED CASE NUMBER 22-51070.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7DUE TO THE CHAPTER 7 BANKRUPTCY FILING THE ORGANIZATION HAS LIMITED RESOURCES AVAILABLE TO CONDUCT FORMAL MEETINGS, CREATE WRITTEN ACTIONS, ETC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8DUE TO THE CHAPTER 7 BANKRUPTCY FILING THE ORGANIZATION HAS LIMITED RESOURCES AVAILABLE TO CONDUCT FORMAL MEETINGS, CREATE WRITTEN ACTIONS, ETC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7990 PART VI, LINE 8A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8990 PART VI, LINE 8B
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IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0PERSEVERANCEPREP.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-08-08 14:25:15Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0FRED HJELMESET
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CHAPTER 7 TRUSTEE
ReturnHeader/BusinessOfficerGrp/PhoneNum06503865634
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-08-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PERSEVERANCE PREPARATORY INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0CASE #23-51070
ReturnHeader/Filer/BusinessNameControlTxt0PERS
ReturnHeader/Filer/EIN0813977275
ReturnHeader/Filer/PhoneNum06503865634
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ReturnHeader/Filer/USAddress/CityNm0MOUNTAIN VIEW
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094040
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BACHECKI CROM & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0400 OYSTER POINT BLVD SUITE 106
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SOUTH SAN FRANCISCO
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd094080
ReturnHeader/PreparerPersonGrp/PhoneNum04153983534
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0AUSTIN J WADE
ReturnHeader/ReturnTs02024-08-15T16:17:42-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-07-01
ReturnHeader/TaxPeriodEndDt02024-06-30
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$263,874
Liabilities
$541,192
Net assets
-$277,318
Revenue
$39,045
Expenses
$759
Net income
$38,286
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