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.

501(c)(3) charity; gifts are tax-deductible.
83¢ of each $1 spent went to programs.
$386K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $720K a year · 13% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
83%
of spending
Looks good: 83% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$386K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
6 mo
of spending, in cash
Looks good: 6.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $348K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$8.0M
65% of total assets
Fine: liabilities are 65% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.0M
+20% vs prior year
Spent
$6.1M
To programs
83%
Net assets
$4.4M
By yearFY2020–FY2025
Revenue
$7.0M
FY2024▲ +20%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.1M
FY2021$4.0M
FY2022$4.4M
FY2023$5.8M
FY2024$7.0M
FY2025$8.0M
Expenses
$6.1M
FY2024▲ +19%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.6M
FY2021$2.9M
FY2022$4.1M
FY2023$5.1M
FY2024$6.1M
FY2025$7.3M
Net assets
$4.4M
FY2024▲ +28%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.3M
FY2021$2.4M
FY2022$2.7M
FY2023$3.4M
FY2024$4.4M
FY2025$5.1M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

83 cents of each dollar spent went to programs.

Program services 83% · $5.0M Management & general 17% · $1.1M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

16 people listed on the 990; $386K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Head of School
$172,580Pt VII · Sec A
Director of Sped/Ms Principal
$109,673Pt VII · Sec A
Director of Operations
$103,869Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Joelle Formato$192,989$172,580$126,801$100,418$97,717$98,795
Jasmine Mungo$133,386$109,673————
Adria Sortino$120,584$103,869————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Prepares K-8 students for college success and community leadership through academics and instruction.

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Provided by the organization

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3 programs · $5.0M · in their own filed words · FY2023
01

Educational Instruction

Providing high-quality instruction for scholars from kindergarten to eighth grade to ensure that our scholars can reach ambitious goals and be firmly on the path to the four year college of their choice

$4.2Mprogram expense
02

Other Programs

Include AFTERSCHOOL/EXTENDED day program and school COUNSELOR/BEHAVIORAL specialist services offered to all students

$473Kprogram expense
03

Special Education

Students with special needs

$371Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 4 funders$348K
See all 4 funders →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$7.0M
Ln 12
Fees for servicesLn 2g$5.7M
Gifts and grantsLn 1h$1.3M
Investment incomeLn 3$68K
Money outPt IX
$6.1M
Ln 25
Programscol B$5.0M
Managementcol C$1.1M
Owns and owesPt X
$4.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.3M
Total assetsLn 16$12.4M
LiabilitiesLn 26$8.0M
PeoplePt VI, VII
16
listed · VII A
PaidVII A3
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.3M
Government grantsLn 1e$882K
Fees for servicesLn 2g$5.7M
Investment incomeLn 3$68K
Other incomeLn 4–11$21K
Total revenueLn 12$7.0M
Assets in detailPt X, end of year
CashLn 1$2.8M
SavingsLn 2$478K
Cash and savings togetherLn 1–2$3.3M
Land, buildings, equipmentLn 10c$8.3M
Total assetsLn 16$12.4M
LiabilitiesLn 26$8.0M
Net assetsLn 32$4.4M
OperationsPt I, VI
EmployeesI 535
VolunteersI 630
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$1.8M$3.3M
Land, buildings, equipmentLn 10c$8.4M$8.3M
Total assetsLn 16$11.3M$12.4M
LiabilitiesLn 26$7.8M$8.0M
Net assetsLn 32$3.4M$4.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$205K$205K
Other salaries and wagesLn 7$2.7M$2.4M$301K
Pension plan contributionsLn 8$233K$209K$25K
Other employee benefitsLn 9$311K$267K$44K
Payroll taxesLn 10$251K$209K$43K
Other fees for servicesLn 11g$172K$5K$167K
Advertising and promotionLn 12$19K$19K
Office expensesLn 13$76K$31K$45K
OccupancyLn 16$94K$85K$9K
Conferences, conventions and meetingsLn 19$234K$234K
InterestLn 20$394K$355K$39K
Depreciation, depletion and amortizationLn 22$462K$416K$46K
InsuranceLn 23$53K$53K
Other expenses (24a–d)Ln 24$845K$810K$35K
All other expensesLn 24e$28K$28K
Total functional expensesLn 25$6.1M$5.0M$1.1M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $8.0M$7.3M$677K$5.1M 990 PDF
FY2024 Viewing $7.0M$6.1M$950K$4.4M 990 PDF
FY2023 $5.8M$5.1M$736K$3.4M 990 PDF
FY2022 $4.4M$4.1M$302K$2.7M 990 PDF
FY2021 $4.0M$2.9M$1.1M$2.4M 990 PDF
FY2020 $3.1M$2.6M$516K$1.3M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $7,013,901 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,129,167$1,260,231
I-9 Program service revenuePrior year $4,637,122$5,664,920
I-10 Investment incomePrior year $15,858$67,822
I-11 Other revenuePrior year $66,249$20,928
I-12 Total revenuePrior year $5,848,396$7,013,901
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,891,852$3,686,950
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $2,220,146$2,376,873
I-18 Total expensesPrior year $5,111,998$6,063,823
I-19 Revenue less expensesPrior year $736,398$950,078
Part VI · Governance 12 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,013,901 across 6 lines filed
Lines not itemized here account for $20,928 of total revenue; see the IRS return.
VIII-1e Government grants$881,764
VIII-1f All other contributions, gifts and grants$378,467
VIII-1h Total contributions, gifts and grants$1,260,231
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,664,920$5,664,920
VIII-3 Investment incomeExcluded from tax $67,822$67,822
VIII-12 Total revenueRelated to mission $5,685,848 · Unrelated business $0 · Excluded from tax $67,822$7,013,901
Part IX · Statement of functional expenses $6,063,823 across 15 lines filed
IX-5 Pay of current officers, directors and key staffManagement $205,453$205,453
IX-7 Other salaries and wagesPrograms $2,384,770 · Management $301,177$2,685,947
IX-8 Pension plan contributionsPrograms $208,902 · Management $24,593$233,495
IX-9 Other employee benefitsPrograms $266,851 · Management $43,993$310,844
IX-10 Payroll taxesPrograms $208,505 · Management $42,706$251,211
IX-11g Other fees for servicesPrograms $5,120 · Management $166,668$171,788
IX-12 Advertising and promotionManagement $18,597$18,597
IX-13 Office expensesPrograms $30,761 · Management $44,874$75,635
IX-16 OccupancyPrograms $84,882 · Management $9,431$94,313
IX-19 Conferences, conventions and meetingsPrograms $234,090$234,090
IX-20 InterestPrograms $354,896 · Management $39,433$394,329
IX-22 Depreciation, depletion and amortizationPrograms $415,961 · Management $46,218$462,179
IX-23 InsuranceManagement $52,960$52,960
IX-24 Other expenses (24a–d)Programs $809,982 · Management $35,260$845,242
IX-24e All other expensesManagement $27,740$27,740
IX-25 Total functional expensesPrograms $5,004,720 · Management $1,059,103 · Fundraising $0$6,063,823
Part X · Balance sheet $12,390,657 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $1,302,531$2,816,558
X-2 Savings and temporary cash investmentsStart of year $474,733$478,060
X-3 Pledges and grants receivableStart of year $771,434$389,322
X-4 Accounts receivableStart of year $53,407$37,272
X-9 Prepaid expenses and deferred chargesStart of year $211,279$373,140
X-10c Land, buildings and equipment, netStart of year $8,441,550$8,296,305
X-16 Total assetsStart of year $11,265,999$12,390,657
X-17 Accounts payable and accrued expensesStart of year $482,036$664,413
X-19 Deferred revenue$100,000
X-26 Total liabilitiesStart of year $7,822,365$7,996,945
X-27 Net assets without donor restrictionsStart of year $3,421,629$4,371,212
X-28 Net assets with donor restrictionsStart of year $22,005$22,500
X-32 Total net assets or fund balancesStart of year $3,443,634$4,393,712
X-33 Total liabilities and net assetsStart of year $11,265,999$12,390,657
Part XI · Reconciliation of net assets $4,393,712 net assets at year end
XI-1 Total revenue$7,013,901
XI-2 Total expenses$6,063,823
XI-3 Revenue less expenses$950,078
XI-4 Net assets at start of year$3,443,634
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,393,712

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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