PERSISTENCE PREPARATORY ACADEMY CHARTER SCHOOL

EIN: 822169421 501(c)(3)

BUFFALO, NY

Total Revenue
$7,979,953
Total Expenses
$7,303,307
Total Assets
$12,828,091
Net Assets
$5,070,358
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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
NY
Principal Officer
JOELLE FORMATO
Phone
7162351520
Tax Period
2024-07-01 to 2025-06-30

PERSISTENCE PREPARATORY ACADEMY CHARTER SCHOOL, founded in 2017, is a community nonprofit that reported $8.0M in total revenue in fiscal year 2024. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $7.3M left a modest 8% surplus.

Mission

OPERATE AS A CHARTER SCHOOL IN THE CITY OF BUFFALO, NY AND PROVIDE INSTRUCTION TO GRADES K-8.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $938,146
Program Service Revenue $6,883,893
Investment Income $100,612
Other Revenue $57,302
TOTAL REVENUE $7,979,953

Expense Breakdown

Grants Paid $0
Salaries & Benefits $4,546,178
Fundraising Expenses $0
Program Expenses $6,027,708
Other Expenses $2,757,129
TOTAL EXPENSES $7,303,307

Year-over-Year Comparison

2024 2023 Change
Revenue $7,979,953 $7,013,901 +0.1%
Expenses $7,303,307 $6,063,823 +0.2%
Net Income $676,646 $950,078 -0.3%
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

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Governance

Voting Members
10
Independent Members
10
Employees
73
Volunteers
45

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
5
$221,995
Total Directors
13
$0
Key Employees
0
$0
Highest Compensated
2
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOELLE FORMATO HEAD OF SCHOOL 40.00
Officer
$192,989 $29,006 $221,995
JASMINE MUNGO UPPER ACADEMIC DIRECTOR 40.00
Highest
$133,386 $23,082 $156,468
ADRIA SORTINO DIRECTOR OF OPERATIONS 40.00
Highest
$120,584 $25,295 $145,879
KEVIN CELNIKER CHAIR 1.00
Officer Director
$0 $0 $0
BRANDI HAYNES VICE CHAIR 1.00
Officer Director
$0 $0 $0
NICOLE WODKA-COOK SECRETARY 1.00
Officer Director
$0 $0 $0
ZACKERY KIBLER TREASURER 1.00
Officer Director
$0 $0 $0
AARON BENNETT TRUSTEE - THROUGH MAY 2025 1.00
Director
$0 $0 $0
CHRISTOPHER CIECHOSKI TRUSTEE 1.00
Director
$0 $0 $0
BOBBIE FINOCCHIO TRUSTEE 1.00
Director
$0 $0 $0
DARNELL HAYWOOD TRUSTEE 1.00
Director
$0 $0 $0
REBECCA IZZO TRUSTEE - THROUGH OCTOBER 2025 1.00
Director
$0 $0 $0
ZACH MELAS TRUSTEE 1.00
Director
$0 $0 $0
ELISHA TOMASELLO TRUSTEE - THROUGH APRIL 2025 1.00
Director
$0 $0 $0
ADRIANA VIVERETTE TRUSTEE 1.00
Director
$0 $0 $0
JEN ZORN 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 $7,979,953 $7,303,307 $12,828,091 $676,646
2024 $7,013,901 $6,063,823 $12,390,657 $950,078
2023 $5,848,396 $5,111,998 $11,265,999 $736,398
2022 $4,364,402 $4,062,031 $10,402,847 $302,371
2021 $4,014,423 $2,875,739 $8,558,196 $1,138,684
2020 $3,072,774 $2,556,544 $1,666,239 $516,230
2019 $1,884,962 $1,759,205 $926,201 $125,757
2018 $866,102 $241,908 $710,323 $624,194
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