2019-05-15T12:26:09-05:00 2018-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2017-07-01 272494520 Arete Scholars Fund Inc ARET 4046972649 PO Box 744 No 203 Dacula GA 30019 Derek Monjure President 4045423888 2019-05-15 1 Ted R Batson Jr P00721951 6785185301 139.146.132.42 2019-05-15 13:26:02 ED P 49F1A104B7356211C74F5F0EBB19BF5D87CEA4A3 DFC357842FFE4B7DCEB1B0C22B45D069C995EA34 2017 2019-02-21 02:37:17Z Derek Monjure PO Box 744 No 203 Dacula GA 30019 4207886 0 X www.aretescholars.org X 2010 GA To assist low-income students reach their highest potential through educational opportunity. 5 4 3 4 0 0 5237408 4170213 0 0 4201 14628 -2298 -10732 5239311 4174109 2901626 3771784 0 0 312625 316872 0 0 104472 154249 170229 3368500 4258885 1870811 -84776 8199091 8117418 0 3103 8199091 8114315 To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. 0 0 4023882 3771784 Arete 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. 4023882 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3 0 1 3 1 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 1 0 0 GA X Mike Townsend 4049650600 3615 Braselton Suite 203 Dacula GA 30019 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 Derek Monjure President 40.00 10.00 X X 119200 0 19684 Al Petrangeli Treasurer 1.00 1.00 X X 0 0 0 Terry Tucker Secretary 1.00 1.00 X X 0 0 0 119200 0 19684 1 0 0 0 0 4170213 4170213 14628 14628 23045 33777 -10732 -10732 4174109 0 0 3896 3771784 3771784 140127 83977 22281 33869 108513 65031 17254 26228 50014 29973 7953 12088 18218 10918 2897 4403 48246 567 47450 229 3680 3680 43319 23667 10106 9546 20118 11981 4377 3760 16333 9788 2597 3948 33440 16196 6843 10401 5093 5093 4258885 4023882 130531 104472 14700 38431 8142013 8021574 41178 56213 1200 1200 8199091 8117418 3103 0 3103 X 335966 199030 7863125 7915285 8199091 8114315 8199091 8117418 -84776 0 X X 0 1 X 1 0 X 3317945 3497113 4969050 5237408 4170213 21191729 3317945 3497113 4969050 5237408 4170213 21191729 14798949 6392780 2440 1868 2168 4201 14628 25305 1856 23045 24901 21241935 0.30100 X 0.99930 0.00060 Schedule A, Part II, Line 10, Explanation of Other Income: Special event income - 2015 Amount: $ 1,856. 2017 Amount: $ 23,045. 0 X 4207886 33777 33777 4174109 0 4174109 4292662 33777 33777 4258885 0 4258885 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. Concert 23045 23045 3529 1850 21000 7398 23045 23045 3529 1850 21000 7398 33777 -10732 1 Scholarships 933 3771784 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. 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. 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 Louisiana Inc 3615 Braselton Hwy Ste 201 Dacula GA 30019 611709239 Assist low-income students reach their highest potential through education. LA 501(c)(3) Line 7 N/A 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Arete Scholars Louisiana Inc D