2022-05-16T15:35:40-05:00 2021-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2020-07-01 272494520 Arete Scholars Fund Inc ARET 4046972649 3617 Braselton Hwy No 101 Dacula GA 30019 Arthur Dupre President 4045423888 2022-05-16 1 Arthur Dupre 999009999 Luke Burnett P01079018 5055022746 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z Arthur Dupre 3617 Braselton Hwy No 101 Dacula GA 30019 4355145 0 X www.aretescholars.org X 2010 GA To assist low-income students in reaching their highest potential through educational opportunity. 6 4 4 5 0 0 4501987 4318706 0 0 98040 36439 -484 0 4599543 4355145 3561098 4040162 0 0 356314 397435 0 0 101810 168177 100965 4085589 4538562 513954 -183417 8687569 8445771 62200 3819 8625369 8441952 To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. 0 0 4298294 4040162 Arete Scholars Fund, Inc. awarded 1,014 K4-12 Education scholarships during the 2020-2021 fiscal year. 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. 4298294 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 2 0 1 4 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 4 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 GA X Mike Townsend 4049650600 3617 Braselton Hwy No 101 Dacula GA 30019 James Smith President 40.00 10.00 X X 60000 0 0 Derek Monjure VP through 1/31/21 / Board Member 40.00 10.00 X 129466 0 11748 Gregory Beadles Board Chairman 1.00 1.00 X X 0 0 0 Chris Prince Vice President 1.00 1.00 X X 0 0 0 Al Petrangeli Treasurer 1.00 1.00 X X 0 0 0 Terry Tucker Secretary 1.00 1.00 X X 0 0 0 189466 0 11748 1 0 0 0 0 62200 4256506 4318706 36439 36439 4355145 0 0 36439 1000 1000 4039162 4039162 120000 72000 6000 42000 64600 38760 3230 22610 165317 98943 46273 20101 21134 12664 3497 4973 26384 15812 4195 6377 49921 49921 12357 1255 10797 305 1785 789 678 318 8662 4700 2331 1631 5236 4886 211 139 2860 1714 455 691 10410 6239 1655 2516 378 227 60 91 9117 9117 Prof. Development 239 143 38 58 4538562 4298294 138458 101810 155450 208126 8528205 8203572 2714 24073 1200 10000 8687569 8445771 0 3819 62200 0 62200 3819 X 97164 238380 8528205 8203572 8625369 8441952 8687569 8445771 -183417 0 X 0 1 X 1 0 X 5237408 4170213 4176735 4501987 4318706 22405049 5237408 4170213 4176735 4501987 4318706 22405049 1279 6772 7050 15101 0 1279 6772 7050 15101 22389948 4201 14628 82790 98040 36439 236098 4201 14628 82790 98040 36439 236098 23045 900 605 24550 5241609 4207886 4260425 4600632 4355145 22665697 0.98780 0.99020 0.01040 0.00870 X Schedule A, Part III, Line 12, Explanation of Other Income: Special event income - 2017 Amount: $ 23,045. 2018 Amount: $ 900. 2019 Amount: $ 605. 2020 Amount: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 4355145 0 4355145 0 4355145 4538562 0 4538562 0 4538562 Part X, Line 2: The 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, 2021, 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 2018. 1 Scholarships 1014 4039162 Part I, Line 2: Procedures 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. Form 990, Part VI, Section A, line 8b There are no committees with authority to act on behalf of the Board of Directors. Form 990, Part VI, Section B, line 11b Form 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, Section B, line 12c The 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, Section B, line 15a Line 15a - The 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. Line 15b - The 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, Section C, line 19 Arete 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. Arete Scholars Louisiana Inc 3617 Braselton Hwy Ste 101 Dacula GA 30019 611709239 Assist low-income students reach their highest potential through education. LA 501(c)(3) Line 7 Arete Scholars Fund Inc 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 Arete Scholars Louisiana Inc D Arete Scholars Louisiana Inc N Arete Scholars Louisiana Inc O Arete Scholars Louisiana Inc Q Actual amount