PERSEVERANCE PREPARATORY INC CASE #23-51070 (EIN 813977275) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2017

Legal Domicile

Principal Officer

FRED HJELMESET

Phone

6503865634

Tax Period

2024-07-01 to 2025-06-30

PERSEVERANCE PREPARATORY INC CASE #23-51070, founded in 2017, is a micro nonprofit that reported $42K in total revenue in fiscal year 2024. Expenses of $100K exceeded revenue, resulting in a 141% operating deficit.

Mission

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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $39,515

Other Revenue $2,116

TOTAL REVENUE $41,631

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $100,396

TOTAL EXPENSES $100,396

Year-over-Year Comparison

	2024	2023	Change
Revenue	$41,631	$39,045	+0.1%
Expenses	$100,396	$759	+131.3%
Net Income	$-58,765	$38,286	-2.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

N/A

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✓ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
FRED HJELMESET	CH 7 TRUSTEE	1.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$41,631	$100,396	No data	$-58,765
2024	$39,045	$759	$263,874	$38,286
2022	$1,031,984	$1,168,184	$565,375	$-136,200
2021	$854,867	$867,222	$596,615	$-12,355
2020	$862,000	$796,367	$510,810	$65,633
2019	$311,424	$212,148	$209,794	$99,276
2018	$215,048	$129,727	$87,600	$85,321

PERSEVERANCE PREPARATORY INC CASE #23-51070