Civic Intelligence

Persistence Preparatory Academy Charter School

990 • Fiscal year 2020 • EIN 82-2169421

Jul 01, 2019 to Jun 30, 2020 • Filed on May 10, 2021

833 Michigan AvenueBuffalo, NY 14203

(716) 235-1520

Siviq Scores

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

Liabilities / Assets

66th percentile

0.24x

Higher debt load relative to assets than 66% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Liabilities / Revenue

49th percentile

0.13x

Higher debt load relative to revenue than 49% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Net Margin

69th percentile

17%

Higher net margin than 69% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Top Officer Pay

73rd percentile

$108,952

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 3.5% of source-year revenue.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2020

Asset Growth

91st percentile

80%

Faster asset growth than 91% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Revenue Growth

89th percentile

63%

Faster revenue growth than 89% of similar nonprofits.

2020 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2019 to 2020

Assets

Up

$1,666,239

Up $740,038 (+80%) from 2019

Net Assets

Up

$1,266,181

Up $516,230 (+69%) from 2019

Liabilities

Up

$400,058

Up $223,808 (+127%) from 2019

Revenue

Up

$3,072,774

Up $1,187,812 (+63%) from 2019

Expenses

Up

$2,556,544

Up $797,339 (+45%) from 2019

Net Income

Up

$516,230

Up $390,473 (+310%) from 2019

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2018: $710,323Liabilities 2018: $86,129Net Assets 2018: $624,1942018Assets 2019: $926,201Liabilities 2019: $176,250Net Assets 2019: $749,9512019Assets 2020: $1,666,239Liabilities 2020: $400,058Net Assets 2020: $1,266,1812020Assets 2021: $8,558,196Liabilities 2021: $6,153,331Net Assets 2021: $2,404,8652021Assets 2022: $10,402,847Liabilities 2022: $7,695,611Net Assets 2022: $2,707,2362022Assets 2025: $12,828,091Liabilities 2025: $7,757,733Net Assets 2025: $5,070,3582025

Highlighted filing

2020

Assets$1,666,239
Liabilities$400,058
Net Assets$1,266,181

Operations Trend

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

$8.0M$6.0M$4.0M$2.0M$0Revenue 2018: $866,102Expenses 2018: $241,908Net Income 2018: $624,1942018Revenue 2019: $1,884,962Expenses 2019: $1,759,205Net Income 2019: $125,7572019Revenue 2020: $3,072,774Expenses 2020: $2,556,544Net Income 2020: $516,2302020Revenue 2021: $4,014,423Expenses 2021: $2,875,739Net Income 2021: $1,138,6842021Revenue 2022: $4,364,402Expenses 2022: $4,062,031Net Income 2022: $302,3712022Revenue 2025: $7,979,953Expenses 2025: $7,303,307Net Income 2025: $676,6462025

Highlighted filing

2020

Revenue$3,072,774
Expenses$2,556,544
Net Income$516,230
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 10, 2021
Return Version
2019v5.2
Gross Receipts
$3,072,774
Mission and Program Overview

Mission

Through rigorous academics, high-quality instruction and leadership development, persistence preparatory academy charter school ensures that all k - 8 scholars are firmly on the path to succeed within a four-year college and create positive change within their communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$575,584$945,915▲ $370,331
Land, Buildings, and Equipment, Net$243,707$415,706▲ $171,999
Pledges and Grants Receivable$17,199$123,364▲ $106,165
Accounts Receivable$50,446$106,451▲ $56,005
Savings and Temporary Cash Investments$25,000$50,000▲ $25,000
Prepaid Expenses and Deferred Charges$14,265$24,803▲ $10,538
Total Assets$926,201$1,666,239▲ $740,038
Liabilities
Unsecured Notes Loans Payable-$254,452-
Accounts Payable and Accrued Expenses$86,093$131,735▲ $45,642
Deferred Revenue$76,194$0▼ $76,194
Mortgage Notes Payable Secured by Investment Property$13,963$13,871▼ $92
Total Liabilities$176,250$400,058▲ $223,808
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$749,951$1,171,462▲ $421,511
Net Assets With Donor Restrictions-$94,719-
Total Net Assets Fund Balance$749,951$1,266,181▲ $516,230
Total Liabilities and Net Assets / Fund Balance$926,201$1,666,239▲ $740,038

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$188,226$57,112$245,338
Leasehold Improvements$22,979$214,627$237,606
Other Land Buildings$204,501-$204,501
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Joelle FormatoHead of SchoolFT$98,795$10,157$108,952

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$703,487
Program Service Revenue
$2,353,584
Investment Income
$0
Other Revenue
$15,703
All Other Contributions
$346,696
Change in Net Assets
$516,230

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,072,774
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$3,072,774
Total Revenue per Form 990
$3,072,774
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,595,081
Other Expenses$961,463
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,047,131$127,570-$1,174,701
Fees for Services Other$102,289$98,738-$201,027
Occupancy$139,403$15,489-$154,892
Depreciation Depletion$131,022$22,099-$153,121
Other Employee Benefits$114,299$14,933-$129,232
Office Expenses$87,745$32,314-$120,059
Payroll Taxes$94,284$20,696-$114,980
Current Officers, Directors, Trustees, and Key Employees-$107,548-$107,548
Pension Plan Contributions$56,268$12,352-$68,620
Information Technology$62,117--$62,117
Conferences and Meetings$51,211--$51,211
Other Expenses$114,738$38,540-$38,540
Insurance-$28,325-$28,325
Advertising-$22,977-$22,977
All Other Expenses-$13,861-$13,861
Interest-$595-$595
Total Functional Expenses$2,000,507$556,037$0$2,556,544

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,556,544
Total Expenses per Audited Statements$2,556,544
Total Expenses per Form 990$2,556,544
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 B, Line 11B

The draft form 990 is reviewed in detail by management and the board of trustees prior to being filed.

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

The school has a written conflict of interest policy that is monitored by the board and reviewed annually. Conflict of interest statements are reviewed by a board member for propriety on an annual basis.

Form 990, Part VI, Section B, Line 15

The board of trustees reviews and evaluates the performance of the head of school on an annual basis. Salaries for the head of school and other key employees are approved by the board.

Form 990, Part VI, Section C, Line 19

The school provides its governing documents, conflict of interest policy and financial statements to the public upon request.

Filing and Contact Details

Filer

Filer Name
Persistence Preparatory Academy Charter
EIN
82-2169421
Phone
7162351520
Address
833 MICHIGAN AVENUE, BUFFALO, NY 14203

Signing Officer

Name
Joelle Formato
Title
Head of School
Phone
7162351520
Signed
2021-05-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Joelle Formato
Formed
2017
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
35
Volunteers
30

Preparer

Firm
Lumsden & Mccormick Llp
Address
369 FRANKLIN STREET, BUFFALO, NY 14202
Preparer
Donna M Gonser CPA
Phone
7168563300
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The process has not changed from the prior year.

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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/OtherRevenueMiscGrp/TotalRevenueColumnAmt015703
IRS990/OtherRevenueTotalAmt015703
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0127570
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01047131
IRS990/OtherSalariesAndWagesGrp/TotalAmt01174701
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt020696
IRS990/PayrollTaxesGrp/ProgramServicesAmt094284
IRS990/PayrollTaxesGrp/TotalAmt0114980
IRS990/PensionPlanContributionsGrp/ManagementAndGeneralAmt012352
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt056268
IRS990/PensionPlanContributionsGrp/TotalAmt068620
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt017199
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt0123364
IRS990/PoliticalCampaignActyInd00
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt014265
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt024803
IRS990/PrincipalOfficerNm0JOELLE FORMATO
IRS990/ProfessionalFundraisingInd00
IRS990/ProgramServiceRevenueGrp/BusinessCd0611600
IRS990/ProgramServiceRevenueGrp/Desc0ENROLLMENT REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02353584
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt02353584
IRS990/ProgSrvcAccomActy2Grp/Desc0SPECIAL EDUCATION - STUDENTS WITH SPECIAL NEEDS
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0166272
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt087215
IRS990/ProgSrvcAccomActy3Grp/Desc0OTHER PROGRAMS
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0144226
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt015703
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0440891
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt00
IRS990/PYOtherExpensesAmt0760608
IRS990/PYOtherRevenueAmt06201
IRS990/PYProgramServiceRevenueAmt01437870
IRS990/PYRevenuesLessExpensesAmt0125755
IRS990/PYSalariesCompEmpBnftPaidAmt0998599
IRS990/PYTotalExpensesAmt01759207
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01884962
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0516230
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt02266369
IRS990/SavingsAndTempCashInvstGrp/BOYAmt025000
IRS990/SavingsAndTempCashInvstGrp/EOYAmt050000
IRS990ScheduleA/SchoolInd0X
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt0188226
IRS990ScheduleD/EquipmentGrp/DepreciationAmt057112
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0245338
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt02556544
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt022979
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt0214627
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0237606
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt0204501
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0204501
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt03072774
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0415706
IRS990ScheduleD/TotalExpensesPerForm990Amt02556544
IRS990ScheduleD/TotalRevenuePerForm990Amt03072774
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt03072774
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt02556544
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd00
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0SOLICITATIONS ARE WRITTEN, AND THE POLICY IS INCLUDED ON ALL WRITTEN DOCUMENTATION.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL DOES NOT AWARD SCHOLARSHIPS.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL IS THE RECIPIENT OF AWARDS AND REIMBURSEMENTS FROM VARIOUS FEDERAL, STATE, AND LOCAL SOURCES. THE AWARDS AND REIMBURSEMENTS ARE SUBJECT TO VARIOUS COMPLIANCE AND FINANCIAL AUDITS BY THE FUNDING SOURCE.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 4
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE DRAFT FORM 990 IS REVIEWED IN DETAIL BY MANAGEMENT AND THE BOARD OF TRUSTEES PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT IS MONITORED BY THE BOARD AND REVIEWED ANNUALLY. CONFLICT OF INTEREST STATEMENTS ARE REVIEWED BY A BOARD MEMBER FOR PROPRIETY ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE BOARD OF TRUSTEES REVIEWS AND EVALUATES THE PERFORMANCE OF THE HEAD OF SCHOOL ON AN ANNUAL BASIS. SALARIES FOR THE HEAD OF SCHOOL AND OTHER KEY EMPLOYEES ARE APPROVED BY THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE SCHOOL PROVIDES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XII, LINE 2C:
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0926201
IRS990/TotalAssetsEOYAmt01666239
IRS990/TotalAssetsGrp/BOYAmt0926201
IRS990/TotalAssetsGrp/EOYAmt01666239
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0703487
IRS990/TotalEmployeeCnt035
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0556037
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02000507
IRS990/TotalFunctionalExpensesGrp/TotalAmt02556544
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0176250

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