ARETE SCHOLARS FUND INC: Form 990, tax year 2019
View the entire original 990 at ProPublica ↗
- Organization
- ARETE SCHOLARS FUND INC (EIN 27-2494520)
- Tax period
- 2019-07-01 to 2020-06-30
- Filed
- 2021-05-13
- IRS object ID
- 202111339349306106
- Schema version
- 2019v5.2
- 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
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2021-05-13T18:31:12-05:00 | ReturnTs |
| Tax Period End | 2020-06-30 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 363990892 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Capin Crouse LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 1255 Lakes Parkway Suite 130 | AddressLine1Txt |
| City | Lawrenceville | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30043 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2019-07-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 272494520 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Arete Scholars Fund Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ARET | BusinessNameControlTxt |
| Phone | 4046972649 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3617 Braselton Hwy No 101 | AddressLine1Txt |
| City | Dacula | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30019 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | James Smith | PersonNm |
| Person Title | President | PersonTitleTxt |
| Phone | 4045423888 | PhoneNum |
| Signature | 2021-05-13 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | Ted R Batson Jr | PreparerPersonNm |
| PTIN | P00721951 | PTIN |
| Phone | 6785185301 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2019 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Principal Officer | James Smith | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3617 Braselton Hwy No 101 | AddressLine1Txt |
| City | Dacula | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30019 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $4,600,632 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | www.aretescholars.org | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2010 | FormationYr |
| Legal Domicile State | GA | LegalDomicileStateCd |
| Activity Or Mission | To assist low-income students in reaching their highest potential through educational opportunity. | ActivityOrMissionDesc |
| Voting Members Governing Body | 5 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 4 | VotingMembersIndependentCnt |
| Total Employee | 3 | TotalEmployeeCnt |
| Total Volunteers | 5 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $4,176,735 | PYContributionsGrantsAmt |
| CY Contributions Grants | $4,501,987 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $82,790 | PYInvestmentIncomeAmt |
| CY Investment Income | $98,040 | CYInvestmentIncomeAmt |
| PY Other Revenue | -$16,182 | PYOtherRevenueAmt |
| CY Other Revenue | -$484 | CYOtherRevenueAmt |
| PY Total Revenue | $4,243,343 | PYTotalRevenueAmt |
| CY Total Revenue | $4,599,543 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $3,710,909 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $3,561,098 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $330,348 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $356,314 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $109,811 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $204,986 | PYOtherExpensesAmt |
| CY Other Expenses | $168,177 | CYOtherExpensesAmt |
| PY Total Expenses | $4,246,243 | PYTotalExpensesAmt |
| CY Total Expenses | $4,085,589 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$2,900 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $513,954 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $8,122,000 | TotalAssetsBOYAmt |
| Total Assets EOY | $8,687,569 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $10,585 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $62,200 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $8,111,415 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $8,625,369 | NetAssetsOrFundBalancesEOYAmt |
| Mission | To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $3,838,886 | ExpenseAmt |
| Grant | $3,561,098 | GrantAmt |
| Desc | Arete Scholars Fund, Inc. awarded 976 K4-12 Education scholarships during the 2019-2020 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. | Desc |
| Total Program Service Expenses | $3,838,886 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | 0 | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | Yes (1) | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 2 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 3 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 5 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 4 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | GA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Mike Townsend | PersonNm |
| Phone | 4049650600 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3617 Braselton Hwy No 101 | AddressLine1Txt |
| City | Dacula | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30019 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|---|
| Derek Monjure | |||||||
| President/Board Member | 40.00 | 10.00 | Yes (X) | Yes (X) | $129,771 | $0 | $10,386 |
| Gregory Beadles | |||||||
| Board Chairman | 1.00 | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Chris Prince | |||||||
| Vice President | 1.00 | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Al Petrangeli | |||||||
| Treasurer | 1.00 | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Terry Tucker | |||||||
| Secretary | 1.00 | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $129,771 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $10,386 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
| Cntrct Rcvd Greater Than100 K | 0 | CntrctRcvdGreaterThan100KCnt |
| Fundraising | $18,074 | FundraisingAmt |
| All Other Contributions | $4,483,913 | AllOtherContributionsAmt |
| Total Contributions | $4,501,987 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $98,040 | TotalRevenueColumnAmt |
| Exclusion | $98,040 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Fundraising Gross Income | $605 | FundraisingGrossIncomeAmt |
| Contri Rpt Fundraising Event | $18,074 | ContriRptFundraisingEventAmt |
| Fundraising Direct Expenses | $1,089 | FundraisingDirectExpensesAmt |
Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$484 | TotalRevenueColumnAmt |
| Exclusion | -$484 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $4,599,543 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $97,556 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,000 | TotalAmt |
| Program Services | $9,000 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,552,098 | TotalAmt |
| Program Services | $3,552,098 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $145,814 | TotalAmt |
| Program Services | $87,488 | ProgramServicesAmt |
| Management And General | $7,291 | ManagementAndGeneralAmt |
| Fundraising | $51,035 | FundraisingAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $162,963 | TotalAmt |
| Program Services | $97,563 | ProgramServicesAmt |
| Management And General | $41,194 | ManagementAndGeneralAmt |
| Fundraising | $24,206 | FundraisingAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,058 | TotalAmt |
| Program Services | $15,013 | ProgramServicesAmt |
| Management And General | $4,597 | ManagementAndGeneralAmt |
| Fundraising | $5,448 | FundraisingAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,479 | TotalAmt |
| Program Services | $13,472 | ProgramServicesAmt |
| Management And General | $3,574 | ManagementAndGeneralAmt |
| Fundraising | $5,433 | FundraisingAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $48,826 | TotalAmt |
| Management And General | $48,826 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,005 | TotalAmt |
| Program Services | $737 | ProgramServicesAmt |
| Management And General | $971 | ManagementAndGeneralAmt |
| Fundraising | $297 | FundraisingAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $33,928 | TotalAmt |
| Program Services | $19,733 | ProgramServicesAmt |
| Management And General | $6,236 | ManagementAndGeneralAmt |
| Fundraising | $7,959 | FundraisingAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $21,580 | TotalAmt |
| Program Services | $8,656 | ProgramServicesAmt |
| Management And General | $9,433 | ManagementAndGeneralAmt |
| Fundraising | $3,491 | FundraisingAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,161 | TotalAmt |
| Program Services | $11,277 | ProgramServicesAmt |
| Management And General | $2,343 | ManagementAndGeneralAmt |
| Fundraising | $2,541 | FundraisingAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,153 | TotalAmt |
| Program Services | $8,482 | ProgramServicesAmt |
| Management And General | $2,250 | ManagementAndGeneralAmt |
| Fundraising | $3,421 | FundraisingAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,335 | TotalAmt |
| Program Services | $12,402 | ProgramServicesAmt |
| Management And General | $3,148 | ManagementAndGeneralAmt |
| Fundraising | $4,785 | FundraisingAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,807 | TotalAmt |
| Program Services | $2,282 | ProgramServicesAmt |
| Management And General | $605 | ManagementAndGeneralAmt |
| Fundraising | $920 | FundraisingAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,524 | TotalAmt |
| Management And General | $5,524 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | Prof. Development | Desc |
| Total | $1,139 | TotalAmt |
| Program Services | $683 | ProgramServicesAmt |
| Management And General | $181 | ManagementAndGeneralAmt |
| Fundraising | $275 | FundraisingAmt |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $719 | TotalAmt |
| Management And General | $719 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,085,589 | TotalAmt |
| Program Services | $3,838,886 | ProgramServicesAmt |
| Management And General | $136,892 | ManagementAndGeneralAmt |
| Fundraising | $109,811 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $108,718 | BOYAmt |
| EOY | $155,450 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,002,407 | BOYAmt |
| EOY | $8,528,205 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,675 | BOYAmt |
| EOY | $2,714 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,200 | BOYAmt |
| EOY | $1,200 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,122,000 | BOYAmt |
| EOY | $8,687,569 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,585 | BOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $62,200 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,585 | BOYAmt |
| EOY | $62,200 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $109,008 | BOYAmt |
| EOY | $97,164 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,002,407 | BOYAmt |
| EOY | $8,528,205 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,111,415 | BOYAmt |
| EOY | $8,625,369 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,122,000 | BOYAmt |
| EOY | $8,687,569 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $513,954 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gifts Grants Contris Rcvd509 GiftsGrantsContrisRcvd509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,969,050 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,237,408 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,170,213 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,176,735 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,501,987 | CurrentTaxYearAmt |
| Total | $23,055,393 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,969,050 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,237,408 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,170,213 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,176,735 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,501,987 | CurrentTaxYearAmt |
| Total | $23,055,393 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $23,055,393 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,168 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,201 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $14,628 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $82,790 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $98,040 | CurrentTaxYearAmt |
| Total | $201,827 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $2,168 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $4,201 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $14,628 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $82,790 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $98,040 | CurrentTaxYearAmt |
| Total | $201,827 | TotalAmt |
Other Income509 OtherIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $1,856 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus2 Years | $23,045 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $900 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $605 | CurrentTaxYearAmt |
| Total | $26,406 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $4,973,074 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $5,241,609 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $4,207,886 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $4,260,425 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $4,600,632 | CurrentTaxYearAmt |
| Total | $23,283,626 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.99020 | PublicSupportCY509Pct |
| Public Support PY509 | 0.99410 | PublicSupportPY509Pct |
| Investment Income CY | 0.00870 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00480 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Form990 Schedule A Part VI Form990ScheduleAPartVIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Schedule A, Part III, Line 12, Explanation of Other Income: | FormAndLineReferenceDesc |
| Explanation | Special event income - 2015 Amount: $ 1,856. 2017 Amount: $ 23,045. 2018 Amount: $ 900. 2019 Amount: $ 605. | ExplanationTxt |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $0 | TotalBookValueLandBuildingsAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $4,600,632 | TotalRevEtcAuditedFinclStmtAmt |
| Other Revenue | $1,089 | OtherRevenueAmt |
| Revenue Not Reported | $1,089 | RevenueNotReportedAmt |
| Revenue Subtotal | $4,599,543 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $4,599,543 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $4,086,678 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $1,089 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $1,089 | ExpensesNotReportedAmt |
| Expenses Subtotal | $4,085,589 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $4,085,589 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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, 2020, 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 2017. |
| Part XI, Line 2d - Other Adjustments: | Fundraising event expense 1,089. |
| Part XII, Line 2d - Other Adjustments: | Fundraising event expense 1,089. |
Schedule G IRS990ScheduleG
Fundraising Event Information FundraisingEventInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Event1 | Brawl for a Cause | Event1Nm |
| Gross Receipts Event1 | $18,679 | GrossReceiptsEvent1Amt |
| Charitable Contri Event1 | $18,074 | CharitableContriEvent1Amt |
| Gross Revenue Event1 | $605 | GrossRevenueEvent1Amt |
| Other Direct Expenses Event1 | $1,089 | OtherDirectExpensesEvent1Amt |
| Gross Receipts Total | $18,679 | GrossReceiptsTotalAmt |
| Charitable Contributions Tot | $18,074 | CharitableContributionsTotAmt |
| Gross Revenue Total Events | $605 | GrossRevenueTotalEventsAmt |
| Oth Direct Expnss Total Events | $1,089 | OthDirectExpnssTotalEventsAmt |
| Direct Expense Summary Events | $1,089 | DirectExpenseSummaryEventsAmt |
| Net Income Summary | -$484 | NetIncomeSummaryAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Hebron Educational Ministries Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 775 Dacula Rd | AddressLine1Txt |
| City | Dacula | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30019 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 582469629 | RecipientEIN |
| IRC Section | 501(c)(3) | IRCSectionDesc |
| Cash Grant | $5,500 | CashGrantAmt |
| Purpose Of Grant | Education Assistance | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Type | Scholarships | GrantTypeTxt |
| Recipient | 976 | RecipientCnt |
| Cash Grant | $3,552,098 | CashGrantAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | Part I, Line 2: | FormAndLineReferenceDesc |
| Explanation | 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. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| 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. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Arete Scholars Louisiana Inc | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 3617 Braselton Hwy Ste 101 | AddressLine1Txt |
| City | Dacula | CityNm |
| State Abbreviation | GA | StateAbbreviationCd |
| ZIP | 30019 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 611709239 | EIN |
| Primary Activities | Assist low-income students reach their highest potential through education. | PrimaryActivitiesTxt |
| Legal Domicile State | LA | LegalDomicileStateCd |
| Exempt Code Section | 501(c)(3) | ExemptCodeSectionTxt |
| Public Charity Status | Line 7 | PublicCharityStatusTxt |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | Arete Scholars Fund Inc | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | Yes (1) | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | Yes (1) | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | Yes (1) | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| Arete Scholars Louisiana Inc | ||
| D | ||
| Arete Scholars Louisiana Inc | ||
| N | ||
| Arete Scholars Louisiana Inc | ||
| O | ||
| Arete Scholars Louisiana Inc | ||
| Q | $51,751 | Actual amount |
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