ARETE SCHOLARS FUND INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization
ARETE SCHOLARS FUND INC (EIN 27-2494520)
Tax period
2022-07-01 to 2023-06-30
Filed
2024-05-15
IRS object ID
202431369349307858
Schema version
2022v5.0
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2024-05-15T11:32:34+00:00ReturnTs
Tax Period End2023-06-30TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

FieldValueIRS element (for citing)
Preparer Firm EIN363990892PreparerFirmEIN

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1Capin Crouse LLPBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line11255 Lakes Parkway Suite 105AddressLine1Txt
CityLawrencevilleCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30043ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2022-07-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN272494520EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Arete Scholars Fund IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
Business Name ControlARETBusinessNameControlTxt
Phone4046972649PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13617 Braselton Hwy 101AddressLine1Txt
CityDaculaCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30019ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonArthur DuprePersonNm
Person TitlePresidentPersonTitleTxt
Phone4046972649PhoneNum
Signature2024-05-15SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstArthurPersonFirstNm
Person LastDuprePersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN
FieldValueIRS element (for citing)
IRS Responsible Prty Info CurrYes (true)IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonLuke BurnettPreparerPersonNm
PTINP01079018PTIN
Phone5055022746PhoneNum
FieldValueIRS element (for citing)
Tax2022TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990 IRS990

Principal Ofcr Business Name PrincipalOfcrBusinessName

FieldValueIRS element (for citing)
Business Name Line1Arthur DupreBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line13617 Braselton Hwy 101AddressLine1Txt
CityDaculaCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30019ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$6,176,961GrossReceiptsAmt
Group Return For AffiliatesfalseGroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.aretescholars.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2010FormationYr
Legal Domicile StateGALegalDomicileStateCd
Activity Or MissionTo assist low-income students in reaching their highest potential through educational opportunity.ActivityOrMissionDesc
Voting Members Governing Body7VotingMembersGoverningBodyCnt
Voting Members Independent6VotingMembersIndependentCnt
Total Employee4TotalEmployeeCnt
Total Volunteers14TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$5,864,923PYContributionsGrantsAmt
CY Contributions Grants$6,079,114CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$29,825PYInvestmentIncomeAmt
CY Investment Income$97,847CYInvestmentIncomeAmt
PY Other Revenue$0PYOtherRevenueAmt
CY Other Revenue$0CYOtherRevenueAmt
PY Total Revenue$5,894,748PYTotalRevenueAmt
CY Total Revenue$6,176,961CYTotalRevenueAmt
PY Grants And Similar Paid$4,232,836PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$5,075,229CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$311,279PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$285,795CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$87,071CYTotalFundraisingExpenseAmt
PY Other Expenses$184,560PYOtherExpensesAmt
CY Other Expenses$139,912CYOtherExpensesAmt
PY Total Expenses$4,728,675PYTotalExpensesAmt
CY Total Expenses$5,500,936CYTotalExpensesAmt
PY Revenues Less Expenses$1,166,073PYRevenuesLessExpensesAmt
CY Revenues Less Expenses$676,025CYRevenuesLessExpensesAmt
Total Assets BOY$9,628,160TotalAssetsBOYAmt
Total Assets EOY$10,292,233TotalAssetsEOYAmt
Total Liabilities BOY$20,135TotalLiabilitiesBOYAmt
Total Liabilities EOY$8,183TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$9,608,025NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$10,284,050NetAssetsOrFundBalancesEOYAmt
MissionTo help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity.MissionDesc
Significant New Program SrvcfalseSignificantNewProgramSrvcInd
Significant ChangefalseSignificantChangeInd
Expense$5,292,573ExpenseAmt
Grant$5,075,229GrantAmt
Revenue$0RevenueAmt
DescArete Scholars Fund, Inc. awarded over 1,100 K4-12 Education scholarships during the 2022-2023 fiscal year totalling over $5 million. Scholarships were awarded solely to qualifying low-income students. The scholarships give parents, whose choices are otherwise limited, the opportunity to select the K4-12 private school that best meets their childrens needs. The scholarships pay up to $4,000 for private school tuition and fees.Desc
Total Program Service Expenses$5,292,573TotalProgramServiceExpensesAmt
Described In Section501c3Yes (true)DescribedInSection501c3Ind
Schedule B RequiredYes (true)ScheduleBRequiredInd
Political Campaign ActyfalsePoliticalCampaignActyInd
Lobbying ActivitiesfalseLobbyingActivitiesInd
Donor Advised FundfalseDonorAdvisedFundInd
Conservation EasementsfalseConservationEasementsInd
Collections Of ArtfalseCollectionsOfArtInd
Credit CounselingfalseCreditCounselingInd
Donor Rstr Or Quasi EndowmentsfalseDonorRstrOrQuasiEndowmentsInd
Report Land Building EquipmentfalseReportLandBuildingEquipmentInd
Report Investments Other SecYes (true)ReportInvestmentsOtherSecInd
Report Program Related InvstfalseReportProgramRelatedInvstInd
Report Other AssetsfalseReportOtherAssetsInd
Report Other LiabilitiesfalseReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (true)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (true)IndependentAuditFinclStmtInd
Consolidated Audit Fincl StmtfalseConsolidatedAuditFinclStmtInd
School OperatingfalseSchoolOperatingInd
Foreign OfficefalseForeignOfficeInd
Foreign ActivitiesfalseForeignActivitiesInd
More Than5000 K To OrgfalseMoreThan5000KToOrgInd
More Than5000 K To IndividualsfalseMoreThan5000KToIndividualsInd
Professional FundraisingfalseProfessionalFundraisingInd
Fundraising ActivitiesfalseFundraisingActivitiesInd
Gaming ActivitiesfalseGamingActivitiesInd
Operate HospitalfalseOperateHospitalInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Grants To IndividualsYes (true)GrantsToIndividualsInd
Schedule J RequiredfalseScheduleJRequiredInd
Tax Exempt BondsfalseTaxExemptBondsInd
Engaged In Excess Benefit TransfalseEngagedInExcessBenefitTransInd
PY Excess Benefit TransfalsePYExcessBenefitTransInd
Loan OutstandingfalseLoanOutstandingInd
Grant To Related PersonfalseGrantToRelatedPersonInd
Business Rln With Org MemfalseBusinessRlnWithOrgMemInd
Business Rln With Fam MemfalseBusinessRlnWithFamMemInd
Business Rln With35 Ctrl EntfalseBusinessRlnWith35CtrlEntInd
Deductible Non Cash ContrifalseDeductibleNonCashContriInd
Deductible Art ContributionfalseDeductibleArtContributionInd
Terminate OperationsfalseTerminateOperationsInd
Partial LiquidationfalsePartialLiquidationInd
Disregarded EntityfalseDisregardedEntityInd
Related EntityYes (true)RelatedEntityInd
Related Organization Ctrl EntYes (true)RelatedOrganizationCtrlEntInd
Transaction With Control EntYes (true)TransactionWithControlEntInd
Trnsfr Exmpt Non Chrtbl Rltd OrgfalseTrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted PrtshpfalseActivitiesConductedPrtshpInd
Schedule O RequiredYes (true)ScheduleORequiredInd
IRP Document1IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (true)BackupWthldComplianceInd
Employee4EmployeeCnt
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Foreign Financial AccountfalseForeignFinancialAccountInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Taxable Party NotificationfalseTaxablePartyNotificationInd
Nondeductible ContributionsfalseNondeductibleContributionsInd
Quid Pro Quo ContributionsfalseQuidProQuoContributionsInd
Form8282 Property Disposed OffalseForm8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Indoor Tanning ServicesfalseIndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst IncfalseSubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members7GoverningBodyVotingMembersCnt
Independent Voting Member6IndependentVotingMemberCnt
Family Or Business RlnfalseFamilyOrBusinessRlnInd
Delegation Of Mgmt DutiesfalseDelegationOfMgmtDutiesInd
Change To Org DocumentsfalseChangeToOrgDocumentsInd
Material Diversion Or MisusefalseMaterialDiversionOrMisuseInd
Members Or StockholdersfalseMembersOrStockholdersInd
Election Of Board MembersfalseElectionOfBoardMembersInd
Decisions Subject To ApprovafalseDecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (true)MinutesOfGoverningBodyInd
Minutes Of CommitteesfalseMinutesOfCommitteesInd
Officer Mailing AddressfalseOfficerMailingAddressInd
Local ChaptersfalseLocalChaptersInd
Form990 Provided To Gvrn BodyYes (true)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (true)ConflictOfInterestPolicyInd
Annual Disclosure Covered PrsnYes (true)AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (true)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (true)WhistleblowerPolicyInd
Document Retention PolicyYes (true)DocumentRetentionPolicyInd
Compensation Process CEOYes (true)CompensationProcessCEOInd
Compensation Process OtherfalseCompensationProcessOtherInd
Investment In Joint VenturefalseInvestmentInJointVentureInd
States Where Copy Of Return Is FldGAStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Mike TownsendBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone4049650600PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13617 Braselton Hwy Ste 101AddressLine1Txt
CityDaculaCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30019ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (7 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
Al Petrangeli
Treasurer1.01.0Yes (X)Yes (X)$0$0$0
Arthur Dupre
President40.010.0Yes (X)Yes (X)$244,388$0$14,457
Chris Prince
Vice President1.01.0Yes (X)Yes (X)$0$0$0
Gregory Beadles
Board Chairman1.01.0Yes (X)Yes (X)$0$0$0
Terry Tucker
Secretary1.01.0Yes (X)Yes (X)$0$0$0
Derek Monjure
Board Member1.01.0Yes (X)$0$0$0
James Smith
Board Member1.01.0Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$244,388TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$14,457TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees ListedfalseFormerOfcrEmployeesListedInd
Total Comp Greater Than150 KfalseTotalCompGreaterThan150KInd
Compensation From Other SrcsfalseCompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$6,079,114AllOtherContributionsAmt
Total Contributions$6,079,114TotalContributionsAmt

Total Oth Program Service Rev TotalOthProgramServiceRevGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Total Program Service Revenue$0TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$97,847TotalRevenueColumnAmt
Exclusion$97,847ExclusionAmt

Rental Income Or Loss RentalIncomeOrLossGrp

FieldValueIRS element (for citing)
Real$0RealAmt
Personal$0PersonalAmt

Gain Or Loss GainOrLossGrp

FieldValueIRS element (for citing)
Securities$0SecuritiesAmt
Other$0OtherAmt

Miscellaneous Revenue MiscellaneousRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$0TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$0ExclusionAmt
FieldValueIRS element (for citing)
Other Revenue Total$0OtherRevenueTotalAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$6,176,961TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$97,847ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$5,075,229TotalAmt
Program Services$5,075,229ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$143,747TotalAmt
Program Services$86,247ProgramServicesAmt
Management And General$7,188ManagementAndGeneralAmt
Fundraising$50,312FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$118,157TotalAmt
Program Services$70,723ProgramServicesAmt
Management And General$32,281ManagementAndGeneralAmt
Fundraising$15,153FundraisingAmt

Pension Plan Contributions PensionPlanContributionsGrp

FieldValueIRS element (for citing)
Total$2,201TotalAmt
Program Services$1,317ProgramServicesAmt
Management And General$767ManagementAndGeneralAmt
Fundraising$117FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$9,860TotalAmt
Program Services$5,897ProgramServicesAmt
Management And General$3,327ManagementAndGeneralAmt
Fundraising$636FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$11,830TotalAmt
Program Services$7,089ProgramServicesAmt
Management And General$1,881ManagementAndGeneralAmt
Fundraising$2,860FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$41,391TotalAmt
Management And General$41,391ManagementAndGeneralAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$14,174TotalAmt
Program Services$2,952ProgramServicesAmt
Management And General$10,878ManagementAndGeneralAmt
Fundraising$344FundraisingAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$6,917TotalAmt
Program Services$2,346ProgramServicesAmt
Management And General$3,625ManagementAndGeneralAmt
Fundraising$946FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$10,945TotalAmt
Program Services$5,508ProgramServicesAmt
Management And General$3,218ManagementAndGeneralAmt
Fundraising$2,219FundraisingAmt

Information Technology InformationTechnologyGrp

FieldValueIRS element (for citing)
Total$7,755TotalAmt
Program Services$7,081ProgramServicesAmt
Management And General$674ManagementAndGeneralAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$944TotalAmt
Program Services$566ProgramServicesAmt
Management And General$150ManagementAndGeneralAmt
Fundraising$228FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$36,358TotalAmt
Program Services$21,789ProgramServicesAmt
Management And General$5,781ManagementAndGeneralAmt
Fundraising$8,788FundraisingAmt

Conferences Meetings ConferencesMeetingsGrp

FieldValueIRS element (for citing)
Total$9,378TotalAmt
Program Services$5,620ProgramServicesAmt
Management And General$1,491ManagementAndGeneralAmt
Fundraising$2,267FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$8,527TotalAmt
Management And General$8,527ManagementAndGeneralAmt

Other Expenses OtherExpensesGrp

FieldValueIRS element (for citing)
DescProfessional DevelopmentDesc
Total$348TotalAmt
Program Services$209ProgramServicesAmt
Management And General$55ManagementAndGeneralAmt
Fundraising$84FundraisingAmt

All Other Expenses AllOtherExpensesGrp

FieldValueIRS element (for citing)
Total$3,175TotalAmt
Program Services$0ProgramServicesAmt
Management And General$58ManagementAndGeneralAmt
Fundraising$3,117FundraisingAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$5,500,936TotalAmt
Program Services$5,292,573ProgramServicesAmt
Management And General$121,292ManagementAndGeneralAmt
Fundraising$87,071FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$24,056BOYAmt
EOY$1,569,897EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$9,473,375BOYAmt
EOY$1,332,861EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$128,811BOYAmt
EOY$53,404EOYAmt

Receivables From Officers Etc ReceivablesFromOfficersEtcGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Rcvbl From Disqualified Prsn RcvblFromDisqualifiedPrsnGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$1,918BOYAmt
EOY$1,918EOYAmt
FieldValueIRS element (for citing)
Land Bldg Equip Cost Or Other Bss$0LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec$0LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

FieldValueIRS element (for citing)
EOY$2,640,747EOYAmt

Investments Other Securities InvestmentsOtherSecuritiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$4,693,406EOYAmt

Investments Program Related InvestmentsProgramRelatedGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt

Other Assets Total OtherAssetsTotalGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$9,628,160BOYAmt
EOY$10,292,233EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
BOY$20,135BOYAmt
EOY$8,183EOYAmt

Loans From Officers Directors LoansFromOfficersDirectorsGrp

FieldValueIRS element (for citing)
EOY$0EOYAmt

Other Liabilities OtherLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$0EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$20,135BOYAmt
EOY$8,183EOYAmt
FieldValueIRS element (for citing)
Organization Follows FASB117Yes (X)OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$235,454BOYAmt
EOY$294,112EOYAmt

Donor Restriction Net Assets DonorRestrictionNetAssetsGrp

FieldValueIRS element (for citing)
BOY$9,372,571BOYAmt
EOY$9,989,938EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$9,608,025BOYAmt
EOY$10,284,050EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$9,628,160BOYAmt
EOY$10,292,233EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss$676,025ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or ReviewfalseAccountantCompileOrReviewInd
FS AuditedYes (true)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (true)AuditCommitteeInd
Federal Grant Audit RequiredfalseFederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Publicly Supported Org509a2Yes (X)PubliclySupportedOrg509a2Ind

Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$4,176,735CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$4,501,987CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,318,706CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$5,864,923CurrentTaxYearMinus1YearAmt
Current Tax Year$6,079,114CurrentTaxYearAmt
Total$24,941,465TotalAmt

Gross Receipts Admissions GrossReceiptsAdmissionsGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Gross Receipts Non Unrlt Bus GrossReceiptsNonUnrltBusGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Tax Rev Levied Orgnztnl Bnft509 TaxRevLeviedOrgnztnlBnft509Grp

FieldValueIRS element (for citing)
Total$0TotalAmt

Govt Furn Srvc Fclts Vl509 GovtFurnSrvcFcltsVl509Grp

FieldValueIRS element (for citing)
Total$0TotalAmt

Total509 Total509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$4,176,735CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$4,501,987CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,318,706CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$5,864,923CurrentTaxYearMinus1YearAmt
Current Tax Year$6,079,114CurrentTaxYearAmt
Total$24,941,465TotalAmt

Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$0CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$6,772CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$7,050CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$10,100CurrentTaxYearMinus1YearAmt
Current Tax Year$7,803CurrentTaxYearAmt
Total$31,725TotalAmt

Substantial Contributors Amt SubstantialContributorsAmtGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$0CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$0CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$0CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$0CurrentTaxYearMinus1YearAmt
Current Tax Year$0CurrentTaxYearAmt
Total$0TotalAmt

Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$0CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$6,772CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$7,050CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$10,100CurrentTaxYearMinus1YearAmt
Current Tax Year$7,803CurrentTaxYearAmt
Total$31,725TotalAmt
FieldValueIRS element (for citing)
Public Support Total509$24,909,740PublicSupportTotal509Amt

Gross Investment Income509 GrossInvestmentIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$82,790CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$98,040CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$36,439CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$29,825CurrentTaxYearMinus1YearAmt
Current Tax Year$97,847CurrentTaxYearAmt
Total$344,941TotalAmt

Post1975 UBTI Post1975UBTIGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Investment Income And UBTI InvestmentIncomeAndUBTIGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$82,790CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$98,040CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$36,439CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$29,825CurrentTaxYearMinus1YearAmt
Current Tax Year$97,847CurrentTaxYearAmt
Total$344,941TotalAmt

Net Income From Other UBI NetIncomeFromOtherUBIGrp

FieldValueIRS element (for citing)
Total$0TotalAmt

Other Income509 OtherIncome509Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$0CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$0CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$0CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$0CurrentTaxYearMinus1YearAmt
Current Tax Year$0CurrentTaxYearAmt
Total$0TotalAmt

Total Support Calendar Year TotalSupportCalendarYearGrp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$4,259,525CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$4,600,027CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,355,145CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$5,894,748CurrentTaxYearMinus1YearAmt
Current Tax Year$6,176,961CurrentTaxYearAmt
Total$25,286,406TotalAmt
FieldValueIRS element (for citing)
Public Support CY5090.9851PublicSupportCY509Pct
Public Support PY5090.9877PublicSupportPY509Pct
Investment Income CY0.01InvestmentIncomeCYPct
Investment Income PY0.0112InvestmentIncomePYPct
Thirty Thr Pct Suprt Tests CY509Yes (X)ThirtyThrPctSuprtTestsCY509Ind

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

FieldValueIRS element (for citing)
ContributorRESTRICTEDContributorNum

Contributor Business Name ContributorBusinessName

FieldValueIRS element (for citing)
Business Name Line1RESTRICTEDBusinessNameLine1

Contributor US Address ContributorUSAddress

FieldValueIRS element (for citing)
Address Line1RESTRICTEDAddressLine1
Address Line2RESTRICTEDAddressLine2
CityRESTRICTEDCity
StateRESTRICTEDState
ZIP CodeRESTRICTEDZIPCode
FieldValueIRS element (for citing)
Total ContributionsRESTRICTEDTotalContributionsAmt

Schedule D IRS990ScheduleD

Other Securities OtherSecuritiesGrp (3 entries)

DescDescBook ValueBookValueAmt
Certificates of Deposits$1,097,615
Corporate Debt Securities$1,452,972
United States Treasury notes$2,142,819
FieldValueIRS element (for citing)
Total Book Value Securities$4,693,406TotalBookValueSecuritiesAmt
Total Liability$0TotalLiabilityAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$6,176,961TotalRevEtcAuditedFinclStmtAmt
Other Revenue$0OtherRevenueAmt
Revenue Not Reported$0RevenueNotReportedAmt
Revenue Subtotal$6,176,961RevenueSubtotalAmt
Other Revenues Not Included$0OtherRevenuesNotIncludedAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$6,176,961TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$5,500,936TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$0OtherExpensesIncludedAmt
Expenses Not Reported$0ExpensesNotReportedAmt
Expenses Subtotal$5,500,936ExpensesSubtotalAmt
Other Expenses Not Included$0OtherExpensesNotIncludedAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$5,500,936TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule D, Part X, Line 2 FIN 48 (ASC 740) footnoteFormAndLineReferenceDesc
ExplanationThe financial statement effects of a tax position taken or expected to be taken are recognized in the financial statements when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Interest and penalties, if any, are included in expenses in the statements of activities. As of June 30, 2023, Arete had no uncertain tax positions that qualify for recognition or disclosure in the financial statements. Arete files information tax returns in the U.S. and the state of Georgia. Arete is generally no longer subject to U.S. federal and state income tax examinations by tax authorities for the years before 2020.ExplanationTxt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (true)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeScholarshipsGrantTypeTxt
Recipient1303RecipientCnt
Cash Grant$5,075,229CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule I, Part I, Line 2 Procedures for monitoring use of grant funds.FormAndLineReferenceDesc
ExplanationProcedures for Monitoring Grants in the US: Arete Scholars Fund, Inc. offers a limited amount of scholarships to students based solely on financial need. Applicants are required to furnish information pertinent to the determination of parental income and the ability to meet tuition requirements. Each application is considered on an individual basis and applications are reviewed annually. Awards are made to each student and the checks are made payable to the school and the parent.ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (6 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
Form 990, Part VI, Line 15b Process to establish compensation of top management officialThe organization does not compensate any other officers or key employees. Therefore, this line was answered no in accordance with the instructions.
Form 990, Part VI, Line 8b Documentation of meetings held by committees of governing bodyThe organization has no committees with authority to act on behalf of the governing body. Therefore, this line was answered no in accordance with the instructions.
Form 990, Part VI, Line 11b Review of form 990 by governing bodyForm 990 is prepared by an independent CPA firm and reviewed in detail by the organization's top management. The reviewed Form 990 is then provided to the board of directors prior to filing with the IRS.
Form 990, Part VI, Line 12c Conflict of interest policyThe Board and officers sign conflict of interest statements. These statements are reviewed by the President. The Board Chairman reviews the President's signed statement. Should any potential conflicts of interest be disclosed, the board member or officer would be asked to refrain from participation in any deliberation or decision with regard to matters affected by the relationship.
Form 990, Part VI, Line 15a Process to establish compensation of top management officialThe independent Board discusses and reviews compensation. Annual comparisons are made to industry standards before approving salaries for the President. The decisions and deliberations are contemporaneously documented.
Form 990, Part VI, Line 19 Required documents available to the publicArete Scholars Fund makes its governing documents and conflict of interest policy available to the public upon request. Financial statements are available on the organization's website.

Schedule R IRS990ScheduleR

Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp

Disregarded Entity Name DisregardedEntityName

FieldValueIRS element (for citing)
Business Name Line1Arete Scholars Louisiana IncBusinessNameLine1Txt

US Address USAddress

FieldValueIRS element (for citing)
Address Line13617 Braselton HwyAddressLine1Txt
Address Line2Ste 101AddressLine2Txt
CityDaculaCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30019ZIPCd
FieldValueIRS element (for citing)
EIN611709239EIN
Primary ActivitiesAssist low-income students reach their highest potential through education.PrimaryActivitiesTxt
Legal Domicile StateLALegalDomicileStateCd
Exempt Code Section501(c)(3)ExemptCodeSectionTxt
Public Charity Status7PublicCharityStatusTxt

Direct Controlling Entity Name DirectControllingEntityName

FieldValueIRS element (for citing)
Business Name Line1Arete Scholars Fund IncBusinessNameLine1Txt
FieldValueIRS element (for citing)
Controlled OrganizationYes (true)ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts RyltsfalseReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth OrgfalseGiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth OrgfalseGiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgYes (true)LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth OrgfalseLoansOrGuaranteesFromOthOrgInd
Div Related OrganizationfalseDivRelatedOrganizationInd
Asset Sale To Other OrgfalseAssetSaleToOtherOrgInd
Asset Purchase From Other OrgfalseAssetPurchaseFromOtherOrgInd
Asset ExchangefalseAssetExchangeInd
Rental Of Facilities To Oth OrgfalseRentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth OrgfalseRentalOfFcltsFromOthOrgInd
Perform Of Services For Oth OrgfalsePerformOfServicesForOthOrgInd
Perform Of Services By Other OrgfalsePerformOfServicesByOtherOrgInd
Sharing Of FacilitiesYes (true)SharingOfFacilitiesInd
Paid Employees SharingYes (true)PaidEmployeesSharingInd
Reimbursement Paid To Other OrgfalseReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other OrgYes (true)ReimbursementPaidByOtherOrgInd
Transfer To Other OrgfalseTransferToOtherOrgInd
Transfer From Other OrgfalseTransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp (4 entries)

Transaction TypeTransactionTypeTxtInvolvedInvolvedAmt
Arete Scholars Louisiana Inc
D$53,404
Arete Scholars Louisiana Inc
N$0
Arete Scholars Louisiana Inc
O$0
Arete Scholars Louisiana Inc
Q$0

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