2020-07-08T14:54:13-05:00 2019-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2018-07-01 611709239 Arete Scholars Louisiana Inc ARET 4046972649 3615 Braselton Hwy Ste 201 No 203 Dacula GA 30019 Derek Monjure President 4045423888 2020-07-08 1 Ted R Batson Jr P00721951 6785185301 139.146.132.42 2020-07-08 15:54:05 ED P E837F78391D18BEAC9FAB0186C1456B47F5133A5 C7522FC26F6AF88DCD4A8C2B8CEC0491A52D5C43 2018 2020-09-23 17:36:50Z Derek Monjure 3615 Braselton Hwy Ste 201 No 203 Dacula GA 30019 5642698 0 X www.aretescholars.org X 2013 LA To assist low-income students in reaching their highest potential through educational opportunity. 5 4 2 4 0 0 3021090 5598886 0 0 1053 43812 0 0 3022143 5642698 2130400 2423099 0 0 92913 122288 0 0 65729 41803 90688 2265116 2636075 757027 3006623 880884 3839665 58817 10975 822067 3828690 To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. 0 0 2527955 2423099 Arete Scholars Louisiana, Inc. awarded 582 K4-12 Education scholarships, for a total of $2,423,099 during the 2018-2019 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 $4,205 for K-8 and $4,731 for 9-12 for private school tuition and fees. 2527955 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 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 0 0 0 1 0 0 1 2 1 0 0 0 0 0 0 0 0 0 0 0 0 X 5 4 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 1 1 0 0 0 X Mike Townsend 4049650600 3615 Braselton Highway Suite 203 Dacula GA 30019 Gregory Beadles Board Chairman 1.00 1.00 X X 0 0 0 Chris Prince Vice Chairman 1.00 1.00 X X 0 0 0 Derek Monjure President 10.00 40.00 X X 0 111908 25348 Al Petrangeli Board Member 1.00 1.00 X 0 0 0 Terry Tucker Board Member 1.00 1.00 X 0 0 0 0 111908 25348 1 0 0 0 0 5598886 5598886 43812 43812 5642698 0 0 43812 2423099 2423099 107625 57848 10763 39014 6272 3371 627 2274 8391 4510 839 3042 20146 20146 2071 564 1126 381 34540 20206 4667 9667 9784 5310 1821 2653 8777 4729 878 3170 10173 5468 1017 3688 5075 2728 507 1840 Testing 122 122 2636075 2527955 42391 65729 X 194924 20229 685960 3819436 880884 3839665 58817 10975 58817 10975 X -22029 278976 844096 3549714 822067 3828690 880884 3839665 3006623 0 X X 0 1 X 1 0 X 709086 1723059 844712 3021090 5598886 11896833 709086 1723059 844712 3021090 5598886 11896833 3199276 8697557 247 277 340 1053 43812 45729 11942562 0.72830 0.52180 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 5642698 0 5642698 0 5642698 2636075 0 2636075 0 2636075 1 Scholarship 582 2423099 Part I, Line 2: Arete Scholars Louisiana, 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. The Board Vice Chairman is responsible for reviewing the signed statements and ensuring that interested persons are in compliance with the conflict of interest policy. 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 15 Lines 15a and 15b - The organization does not compensate any officers or key employees. Therefore, these lines were answered no in accordance with the instructions. Form 990, Part VI, Section C, line 19 Arete Scholars Louisiana makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part X, Lines 27 & 29: In accordance with the principles of FASB ASU 2016-14 (ASC 958), the organization has implemented required changes to its audited financial statements for the period ended 06/30/2019. The 2018 Form 990 and its associated schedules have not been updated to reflect changes made by this standard. Thus, we have reported the revised net asset categories from the audited financial statements as follows on Form 990, Part X, Lines 27-29: Line 27 - Net assets without donor restrictions 278,976 Line 29 - Net assets with donor restrictions 3,549,714 Total net assets 3,828,690 Form 990, Page 12, Part XII, Line 2c: The organization's Board assumes responsibility for oversight of the audit of its financial statements and selection of its independent accountant. This process has not changed since the prior year. Arete Scholars Fund Inc PO Box 744 Dacula GA 30019 272494520 Assist low-income students reach their highest potential through education. GA 501(c)(3) Line 10 None 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 0 0 0 Arete Scholars Fund Inc E Arete Scholars Fund Inc P Arete Scholars Fund Inc N Arete Scholars Fund Inc O