BETA

ARETE SCHOLARS FUND INC: Form 990, tax year 2017

View the entire original 990 at ProPublica ↗

Organization
ARETE SCHOLARS FUND INC (EIN 27-2494520)
Tax period
2017-07-01 to 2018-06-30
Filed
2019-05-15
IRS object ID
201901359349306520
Schema version
2017v2.3
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)
Return2019-05-15T12:26:09-05:00ReturnTs
Tax Period End2018-06-30TaxPeriodEndDt

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 130AddressLine1Txt
CityLawrencevilleCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30043ZIPCd
FieldValueIRS element (for citing)
Return Type990ReturnTypeCd
Tax Period Begin2017-07-01TaxPeriodBeginDt

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 Line1PO Box 744 No 203AddressLine1Txt
CityDaculaCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30019ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonDerek MonjurePersonNm
Person TitlePresidentPersonTitleTxt
Phone4045423888PhoneNum
Signature2019-05-15SignatureDt
Discuss With Paid PreparerYes (1)DiscussWithPaidPreparerInd

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonTed R Batson JrPreparerPersonNm
PTINP00721951PTIN
Phone6785185301PhoneNum

Filing Security Information FilingSecurityInformation

IP Address IPAddress

FieldValueIRS element (for citing)
I Pv4 Address139.146.132.42IPv4AddressTxt
FieldValueIRS element (for citing)
IP2019-05-15IPDt
IP Tm13:26:02IPTm
IP TimezoneEDIPTimezoneCd
Filing License TypePFilingLicenseTypeCd
At Submission Creation Device Id49F1A104B7356211C74F5F0EBB19BF5D87CEA4A3AtSubmissionCreationDeviceId
At Submission Filing Device IdDFC357842FFE4B7DCEB1B0C22B45D069C995EA34AtSubmissionFilingDeviceId
FieldValueIRS element (for citing)
Tax2017TaxYr
Build TS2019-02-21 02:37:17ZBuildTS

Form 990 IRS990

FieldValueIRS element (for citing)
Principal OfficerDerek MonjurePrincipalOfficerNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1PO Box 744 No 203AddressLine1Txt
CityDaculaCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30019ZIPCd
FieldValueIRS element (for citing)
Gross Receipts$4,207,886GrossReceiptsAmt
Group Return For Affiliates0GroupReturnForAffiliatesInd
Organization501c3Yes (X)Organization501c3Ind
Website Addresswww.aretescholars.orgWebsiteAddressTxt
Type Of Organization CorpYes (X)TypeOfOrganizationCorpInd
Formation2010FormationYr
Legal Domicile StateGALegalDomicileStateCd
Activity Or MissionTo assist low-income students reach their highest potential through educational opportunity.ActivityOrMissionDesc
Voting Members Governing Body5VotingMembersGoverningBodyCnt
Voting Members Independent4VotingMembersIndependentCnt
Total Employee3TotalEmployeeCnt
Total Volunteers4TotalVolunteersCnt
Total Gross UBI$0TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm$0NetUnrelatedBusTxblIncmAmt
PY Contributions Grants$5,237,408PYContributionsGrantsAmt
CY Contributions Grants$4,170,213CYContributionsGrantsAmt
PY Program Service Revenue$0PYProgramServiceRevenueAmt
CY Program Service Revenue$0CYProgramServiceRevenueAmt
PY Investment Income$4,201PYInvestmentIncomeAmt
CY Investment Income$14,628CYInvestmentIncomeAmt
PY Other Revenue-$2,298PYOtherRevenueAmt
CY Other Revenue-$10,732CYOtherRevenueAmt
PY Total Revenue$5,239,311PYTotalRevenueAmt
CY Total Revenue$4,174,109CYTotalRevenueAmt
PY Grants And Similar Paid$2,901,626PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid$3,771,784CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members$0PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members$0CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid$312,625PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid$316,872CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns$0PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns$0CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense$104,472CYTotalFundraisingExpenseAmt
PY Other Expenses$154,249PYOtherExpensesAmt
CY Other Expenses$170,229CYOtherExpensesAmt
PY Total Expenses$3,368,500PYTotalExpensesAmt
CY Total Expenses$4,258,885CYTotalExpensesAmt
PY Revenues Less Expenses$1,870,811PYRevenuesLessExpensesAmt
CY Revenues Less Expenses-$84,776CYRevenuesLessExpensesAmt
Total Assets BOY$8,199,091TotalAssetsBOYAmt
Total Assets EOY$8,117,418TotalAssetsEOYAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$3,103TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY$8,199,091NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY$8,114,315NetAssetsOrFundBalancesEOYAmt
MissionTo help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity.MissionDesc
Significant New Program Srvc0SignificantNewProgramSrvcInd
Significant Change0SignificantChangeInd
Expense$4,023,882ExpenseAmt
Grant$3,771,784GrantAmt
DescArete Scholars Fund, Inc. awarded 933 K4-12 Education scholarships during the 2017-2018 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$4,023,882TotalProgramServiceExpensesAmt
Described In Section501c3Yes (1)DescribedInSection501c3Ind
Schedule B RequiredYes (1)ScheduleBRequiredInd
Political Campaign Acty0PoliticalCampaignActyInd
Lobbying Activities0LobbyingActivitiesInd
Subject To Proxy Tax0SubjectToProxyTaxInd
Donor Advised Fund0DonorAdvisedFundInd
Conservation Easements0ConservationEasementsInd
Collections Of Art0CollectionsOfArtInd
Credit Counseling0CreditCounselingInd
Temp Or Permanent Endowments0TempOrPermanentEndowmentsInd
Report Land Building Equipment0ReportLandBuildingEquipmentInd
Report Investments Other Sec0ReportInvestmentsOtherSecInd
Report Program Related Invst0ReportProgramRelatedInvstInd
Report Other Assets0ReportOtherAssetsInd
Report Other Liabilities0ReportOtherLiabilitiesInd
Include FIN48 FootnoteYes (1)IncludeFIN48FootnoteInd
Independent Audit Fincl StmtYes (1)IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt0ConsolidatedAuditFinclStmtInd
School Operating0SchoolOperatingInd
Foreign Office0ForeignOfficeInd
Foreign Activities0ForeignActivitiesInd
More Than5000 K To Org0MoreThan5000KToOrgInd
More Than5000 K To Individuals0MoreThan5000KToIndividualsInd
Professional Fundraising0ProfessionalFundraisingInd
Fundraising ActivitiesYes (1)FundraisingActivitiesInd
Gaming Activities0GamingActivitiesInd
Operate Hospital0OperateHospitalInd
Grants To Organizations0GrantsToOrganizationsInd
Grants To IndividualsYes (1)GrantsToIndividualsInd
Schedule J Required0ScheduleJRequiredInd
Tax Exempt Bonds0TaxExemptBondsInd
Engaged In Excess Benefit Trans0EngagedInExcessBenefitTransInd
PY Excess Benefit Trans0PYExcessBenefitTransInd
Loan Outstanding0LoanOutstandingInd
Grant To Related Person0GrantToRelatedPersonInd
Business Rln With Org Mem0BusinessRlnWithOrgMemInd
Business Rln With Fam Mem0BusinessRlnWithFamMemInd
Business Rln With Officer Ent0BusinessRlnWithOfficerEntInd
Deductible Non Cash Contri0DeductibleNonCashContriInd
Deductible Art Contribution0DeductibleArtContributionInd
Terminate Operations0TerminateOperationsInd
Partial Liquidation0PartialLiquidationInd
Disregarded Entity0DisregardedEntityInd
Related EntityYes (1)RelatedEntityInd
Related Organization Ctrl Ent0RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org0TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp0ActivitiesConductedPrtshpInd
Schedule O RequiredYes (1)ScheduleORequiredInd
IRP Document3IRPDocumentCnt
IRP Document W2 G0IRPDocumentW2GCnt
Backup Wthld ComplianceYes (1)BackupWthldComplianceInd
Employee3EmployeeCnt
Employment Tax Returns FiledYes (1)EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit0UnrelatedBusIncmOverLimitInd
Foreign Financial Account0ForeignFinancialAccountInd
Prohibited Tax Shelter Trans0ProhibitedTaxShelterTransInd
Taxable Party Notification0TaxablePartyNotificationInd
Nondeductible Contributions0NondeductibleContributionsInd
Quid Pro Quo Contributions0QuidProQuoContributionsInd
Form8282 Property Disposed Of0Form8282PropertyDisposedOfInd
Rcv Fnds To Pay Prsnl Bnft Cntrct0RcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft Cntrct0PayPremiumsPrsnlBnftCntrctInd
Indoor Tanning Services0IndoorTanningServicesInd
Info In Schedule O Part VIYes (X)InfoInScheduleOPartVIInd
Governing Body Voting Members5GoverningBodyVotingMembersCnt
Independent Voting Member4IndependentVotingMemberCnt
Family Or Business Rln0FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties0DelegationOfMgmtDutiesInd
Change To Org Documents0ChangeToOrgDocumentsInd
Material Diversion Or Misuse0MaterialDiversionOrMisuseInd
Members Or Stockholders0MembersOrStockholdersInd
Election Of Board Members0ElectionOfBoardMembersInd
Decisions Subject To Approva0DecisionsSubjectToApprovaInd
Minutes Of Governing BodyYes (1)MinutesOfGoverningBodyInd
Minutes Of Committees0MinutesOfCommitteesInd
Officer Mailing Address0OfficerMailingAddressInd
Local Chapters0LocalChaptersInd
Form990 Provided To Gvrn BodyYes (1)Form990ProvidedToGvrnBodyInd
Conflict Of Interest PolicyYes (1)ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn0AnnualDisclosureCoveredPrsnInd
Regular Monitoring EnfrcYes (1)RegularMonitoringEnfrcInd
Whistleblower PolicyYes (1)WhistleblowerPolicyInd
Document Retention PolicyYes (1)DocumentRetentionPolicyInd
Compensation Process CEOYes (1)CompensationProcessCEOInd
Compensation Process Other0CompensationProcessOtherInd
Investment In Joint Venture0InvestmentInJointVentureInd
States Where Copy Of Return Is FldGAStatesWhereCopyOfReturnIsFldCd
Upon RequestYes (X)UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

FieldValueIRS element (for citing)
PersonMike TownsendPersonNm
Phone4049650600PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line13615 Braselton Suite 203AddressLine1Txt
CityDaculaCityNm
State AbbreviationGAStateAbbreviationCd
ZIP30019ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (5 entries)

TitleTitleTxtAverage Hours Per WeekAverageHoursPerWeekRtAverage Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRtIndividual Trustee Or DirectorIndividualTrusteeOrDirectorIndOfficerOfficerIndReportable Comp From OrgReportableCompFromOrgAmtReportable Comp From Rltd OrgReportableCompFromRltdOrgAmtOther CompensationOtherCompensationAmt
Gregory Beadles
Board Chairman1.001.00Yes (X)Yes (X)$0$0$0
Chris Prince
Vice President1.001.00Yes (X)Yes (X)$0$0$0
Derek Monjure
President40.0010.00Yes (X)Yes (X)$119,200$0$19,684
Al Petrangeli
Treasurer1.001.00Yes (X)Yes (X)$0$0$0
Terry Tucker
Secretary1.001.00Yes (X)Yes (X)$0$0$0
FieldValueIRS element (for citing)
Total Reportable Comp From Org$119,200TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org$0TotReportableCompRltdOrgAmt
Total Other Compensation$19,684TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K1IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed0FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K0TotalCompGreaterThan150KInd
Compensation From Other Srcs0CompensationFromOtherSrcsInd
Cntrct Rcvd Greater Than100 K0CntrctRcvdGreaterThan100KCnt
All Other Contributions$4,170,213AllOtherContributionsAmt
Total Contributions$4,170,213TotalContributionsAmt

Investment Income InvestmentIncomeGrp

FieldValueIRS element (for citing)
Total Revenue Column$14,628TotalRevenueColumnAmt
Exclusion$14,628ExclusionAmt
FieldValueIRS element (for citing)
Fundraising Gross Income$23,045FundraisingGrossIncomeAmt
Fundraising Direct Expenses$33,777FundraisingDirectExpensesAmt

Net Incm From Fundraising Evt NetIncmFromFundraisingEvtGrp

FieldValueIRS element (for citing)
Total Revenue Column-$10,732TotalRevenueColumnAmt
Exclusion-$10,732ExclusionAmt

Total Revenue TotalRevenueGrp

FieldValueIRS element (for citing)
Total Revenue Column$4,174,109TotalRevenueColumnAmt
Related Or Exempt Func Income$0RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue$0UnrelatedBusinessRevenueAmt
Exclusion$3,896ExclusionAmt

Grants To Domestic Individuals GrantsToDomesticIndividualsGrp

FieldValueIRS element (for citing)
Total$3,771,784TotalAmt
Program Services$3,771,784ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

FieldValueIRS element (for citing)
Total$140,127TotalAmt
Program Services$83,977ProgramServicesAmt
Management And General$22,281ManagementAndGeneralAmt
Fundraising$33,869FundraisingAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

FieldValueIRS element (for citing)
Total$108,513TotalAmt
Program Services$65,031ProgramServicesAmt
Management And General$17,254ManagementAndGeneralAmt
Fundraising$26,228FundraisingAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

FieldValueIRS element (for citing)
Total$50,014TotalAmt
Program Services$29,973ProgramServicesAmt
Management And General$7,953ManagementAndGeneralAmt
Fundraising$12,088FundraisingAmt

Payroll Taxes PayrollTaxesGrp

FieldValueIRS element (for citing)
Total$18,218TotalAmt
Program Services$10,918ProgramServicesAmt
Management And General$2,897ManagementAndGeneralAmt
Fundraising$4,403FundraisingAmt

Fees For Services Accounting FeesForServicesAccountingGrp

FieldValueIRS element (for citing)
Total$48,246TotalAmt
Program Services$567ProgramServicesAmt
Management And General$47,450ManagementAndGeneralAmt
Fundraising$229FundraisingAmt

Fees For Services Other FeesForServicesOtherGrp

FieldValueIRS element (for citing)
Total$3,680TotalAmt
Management And General$3,680ManagementAndGeneralAmt

Advertising AdvertisingGrp

FieldValueIRS element (for citing)
Total$43,319TotalAmt
Program Services$23,667ProgramServicesAmt
Management And General$10,106ManagementAndGeneralAmt
Fundraising$9,546FundraisingAmt

Office Expenses OfficeExpensesGrp

FieldValueIRS element (for citing)
Total$20,118TotalAmt
Program Services$11,981ProgramServicesAmt
Management And General$4,377ManagementAndGeneralAmt
Fundraising$3,760FundraisingAmt

Occupancy OccupancyGrp

FieldValueIRS element (for citing)
Total$16,333TotalAmt
Program Services$9,788ProgramServicesAmt
Management And General$2,597ManagementAndGeneralAmt
Fundraising$3,948FundraisingAmt

Travel TravelGrp

FieldValueIRS element (for citing)
Total$33,440TotalAmt
Program Services$16,196ProgramServicesAmt
Management And General$6,843ManagementAndGeneralAmt
Fundraising$10,401FundraisingAmt

Insurance InsuranceGrp

FieldValueIRS element (for citing)
Total$5,093TotalAmt
Management And General$5,093ManagementAndGeneralAmt

Total Functional Expenses TotalFunctionalExpensesGrp

FieldValueIRS element (for citing)
Total$4,258,885TotalAmt
Program Services$4,023,882ProgramServicesAmt
Management And General$130,531ManagementAndGeneralAmt
Fundraising$104,472FundraisingAmt

Cash Non Interest Bearing CashNonInterestBearingGrp

FieldValueIRS element (for citing)
BOY$14,700BOYAmt
EOY$38,431EOYAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

FieldValueIRS element (for citing)
BOY$8,142,013BOYAmt
EOY$8,021,574EOYAmt

Accounts Receivable AccountsReceivableGrp

FieldValueIRS element (for citing)
BOY$41,178BOYAmt
EOY$56,213EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

FieldValueIRS element (for citing)
BOY$1,200BOYAmt
EOY$1,200EOYAmt

Total Assets TotalAssetsGrp

FieldValueIRS element (for citing)
BOY$8,199,091BOYAmt
EOY$8,117,418EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

FieldValueIRS element (for citing)
EOY$3,103EOYAmt

Total Liabilities TotalLiabilitiesGrp

FieldValueIRS element (for citing)
BOY$0BOYAmt
EOY$3,103EOYAmt
FieldValueIRS element (for citing)
Organization Follows SFAS117Yes (X)OrganizationFollowsSFAS117Ind

Unrestricted Net Assets UnrestrictedNetAssetsGrp

FieldValueIRS element (for citing)
BOY$335,966BOYAmt
EOY$199,030EOYAmt

Temporarily Rstr Net Assets TemporarilyRstrNetAssetsGrp

FieldValueIRS element (for citing)
BOY$7,863,125BOYAmt
EOY$7,915,285EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$8,199,091BOYAmt
EOY$8,114,315EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

FieldValueIRS element (for citing)
BOY$8,199,091BOYAmt
EOY$8,117,418EOYAmt
FieldValueIRS element (for citing)
Reconcilation Revenue Expnss-$84,776ReconcilationRevenueExpnssAmt
Other Changes In Net Assets$0OtherChangesInNetAssetsAmt
Info In Schedule O Part XIIYes (X)InfoInScheduleOPartXIIInd
Method Of Accounting AccrualYes (X)MethodOfAccountingAccrualInd
Accountant Compile Or Review0AccountantCompileOrReviewInd
FS AuditedYes (1)FSAuditedInd

FS Audited Basis FSAuditedBasisGrp

FieldValueIRS element (for citing)
Separate Basis Fincl StmtYes (X)SeparateBasisFinclStmtInd
FieldValueIRS element (for citing)
Audit CommitteeYes (1)AuditCommitteeInd
Federal Grant Audit Required0FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

FieldValueIRS element (for citing)
Public Organization170Yes (X)PublicOrganization170Ind

Gifts Grants Contri Rcvd170 GiftsGrantsContriRcvd170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$3,317,945CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$3,497,113CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,969,050CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$5,237,408CurrentTaxYearMinus1YearAmt
Current Tax Year$4,170,213CurrentTaxYearAmt
Total$21,191,729TotalAmt

Total Calendar Year170 TotalCalendarYear170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$3,317,945CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$3,497,113CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$4,969,050CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$5,237,408CurrentTaxYearMinus1YearAmt
Current Tax Year$4,170,213CurrentTaxYearAmt
Total$21,191,729TotalAmt
FieldValueIRS element (for citing)
Substantial Contributors Tot$14,798,949SubstantialContributorsTotAmt
Public Support Total170$6,392,780PublicSupportTotal170Amt

Gross Investment Income170 GrossInvestmentIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus4 Years$2,440CurrentTaxYearMinus4YearsAmt
Current Tax Year Minus3 Years$1,868CurrentTaxYearMinus3YearsAmt
Current Tax Year Minus2 Years$2,168CurrentTaxYearMinus2YearsAmt
Current Tax Year Minus1 Year$4,201CurrentTaxYearMinus1YearAmt
Current Tax Year$14,628CurrentTaxYearAmt
Total$25,305TotalAmt

Other Income170 OtherIncome170Grp

FieldValueIRS element (for citing)
Current Tax Year Minus2 Years$1,856CurrentTaxYearMinus2YearsAmt
Current Tax Year$23,045CurrentTaxYearAmt
Total$24,901TotalAmt
FieldValueIRS element (for citing)
Total Support$21,241,935TotalSupportAmt
Public Support CY1700.30100PublicSupportCY170Pct
Private Foundation170Yes (X)PrivateFoundation170Ind
Public Support PY5090.99930PublicSupportPY509Pct
Investment Income PY0.00060InvestmentIncomePYPct

Form990 Schedule A Part VI Form990ScheduleAPartVIGrp

FieldValueIRS element (for citing)
Form And Line ReferenceSchedule A, Part II, Line 10, Explanation of Other Income:FormAndLineReferenceDesc
ExplanationSpecial event income - 2015 Amount: $ 1,856. 2017 Amount: $ 23,045.ExplanationTxt

Schedule B IRS990ScheduleB

Schedule D IRS990ScheduleD

FieldValueIRS element (for citing)
Total Book Value Land Buildings$0TotalBookValueLandBuildingsAmt
Footnote TextYes (X)FootnoteTextInd
Total Rev Etc Audited Fincl Stmt$4,207,886TotalRevEtcAuditedFinclStmtAmt
Other Revenue$33,777OtherRevenueAmt
Revenue Not Reported$33,777RevenueNotReportedAmt
Revenue Subtotal$4,174,109RevenueSubtotalAmt
Revenue Not Reported Fincl Stmt$0RevenueNotReportedFinclStmtAmt
Total Revenue Per Form990$4,174,109TotalRevenuePerForm990Amt
Tot Expns Etc Audited Fincl Stmt$4,292,662TotExpnsEtcAuditedFinclStmtAmt
Other Expenses Included$33,777OtherExpensesIncludedAmt
Expenses Not Reported$33,777ExpensesNotReportedAmt
Expenses Subtotal$4,258,885ExpensesSubtotalAmt
Expenses Not Rpt Fincl Stmt$0ExpensesNotRptFinclStmtAmt
Total Expenses Per Form990$4,258,885TotalExpensesPerForm990Amt

Supplemental Information Detail SupplementalInformationDetail (3 entries)

Form And Line ReferenceFormAndLineReferenceDescExplanationExplanationTxt
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, 2018, 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 2014.
Part XI, Line 2d - Other Adjustments:Fundraising event expense 33,777.
Part XII, Line 2d - Other Adjustments:Fundraising event expense 33,777.

Schedule G IRS990ScheduleG

Fundraising Event Information FundraisingEventInformationGrp

FieldValueIRS element (for citing)
Event1ConcertEvent1Nm
Gross Receipts Event1$23,045GrossReceiptsEvent1Amt
Gross Revenue Event1$23,045GrossRevenueEvent1Amt
Rent Facility Costs Event1$3,529RentFacilityCostsEvent1Amt
Food And Beverage Event1$1,850FoodAndBeverageEvent1Amt
Entertainment Event1$21,000EntertainmentEvent1Amt
Other Direct Expenses Event1$7,398OtherDirectExpensesEvent1Amt
Gross Receipts Total$23,045GrossReceiptsTotalAmt
Gross Revenue Total Events$23,045GrossRevenueTotalEventsAmt
Rent Fclty Costs Total Events$3,529RentFcltyCostsTotalEventsAmt
Food And Beverage Total Events$1,850FoodAndBeverageTotalEventsAmt
Entertainment Total Events$21,000EntertainmentTotalEventsAmt
Oth Direct Expnss Total Events$7,398OthDirectExpnssTotalEventsAmt
Direct Expense Summary Events$33,777DirectExpenseSummaryEventsAmt
Net Income Summary-$10,732NetIncomeSummaryAmt

Schedule I IRS990ScheduleI

FieldValueIRS element (for citing)
Grant Records MaintainedYes (1)GrantRecordsMaintainedInd

Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp

FieldValueIRS element (for citing)
Grant TypeScholarshipsGrantTypeTxt
Recipient933RecipientCnt
Cash Grant$3,771,784CashGrantAmt

Supplemental Information Detail SupplementalInformationDetail

FieldValueIRS element (for citing)
Form And Line ReferencePart I, Line 2: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, Section A, line 8bThere are no committees with authority to act on behalf of the Board of Directors.
Form 990, Part VI, Section B, line 11bForm 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 12cThe Board and officers sign conflict of interest statements. These statements are reviewed by the President. 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 15aLine 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 19Arete 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.
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.

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 Line13615 Braselton Hwy Ste 201AddressLine1Txt
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 StatusLine 7PublicCharityStatusTxt
Direct Controlling NAN/ADirectControllingNACd
Controlled Organization0ControlledOrganizationInd
FieldValueIRS element (for citing)
Receipt Of Int Annts Rnts Rylts0ReceiptOfIntAnntsRntsRyltsInd
Gift Grnt Or Cap Contri To Oth Org0GiftGrntOrCapContriToOthOrgInd
Gift Grnt Cap Contri From Oth Org0GiftGrntCapContriFromOthOrgInd
Loans Or Guarantees To Other OrgYes (1)LoansOrGuaranteesToOtherOrgInd
Loans Or Guarantees From Oth Org0LoansOrGuaranteesFromOthOrgInd
Div Related Organization0DivRelatedOrganizationInd
Asset Sale To Other Org0AssetSaleToOtherOrgInd
Asset Purchase From Other Org0AssetPurchaseFromOtherOrgInd
Asset Exchange0AssetExchangeInd
Rental Of Facilities To Oth Org0RentalOfFacilitiesToOthOrgInd
Rental Of Fclts From Oth Org0RentalOfFcltsFromOthOrgInd
Perform Of Services For Oth Org0PerformOfServicesForOthOrgInd
Perform Of Services By Other Org0PerformOfServicesByOtherOrgInd
Sharing Of Facilities0SharingOfFacilitiesInd
Paid Employees Sharing0PaidEmployeesSharingInd
Reimbursement Paid To Other Org0ReimbursementPaidToOtherOrgInd
Reimbursement Paid By Other Org0ReimbursementPaidByOtherOrgInd
Transfer To Other Org0TransferToOtherOrgInd
Transfer From Other Org0TransferFromOtherOrgInd

Transactions Related Org TransactionsRelatedOrgGrp

Other Organization Name OtherOrganizationName

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

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