2018-05-14T17:22:19-05:00 2017-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2016-07-01 611709239 Arete Scholars Louisiana Inc ARET 4044457262 3615 Braselton Hwy No 203 Dacula GA 30019 Derek Monjure Executive Director 4045423888 2018-05-14 1 Francis K Brown II P00465640 6785185301 2016 2022-09-23 18:48:47Z Derek Monjure 3615 Braselton Hwy No 203 Dacula GA 30019 845052 0 X www.aretescholars.org X 2013 LA To assist low-income students reach their highest potential through educational opportunity. 5 4 2 4 0 0 1723059 844712 0 0 277 340 0 0 1723336 845052 843157 1829857 0 0 116797 118211 0 0 58666 97316 74873 1057270 2022941 666066 -1177889 1259277 105509 16348 40469 1242929 65040 To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. 0 0 1922133 1829857 0 Arete Scholars Louisiana, Inc. awarded 450 K4-12 Education scholarships, for a total of $1,829,857 during the 2016-2017 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 $4,157 for K-8 and $4,676 for 9-12 for private school tuition and fees. 1922133 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 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 2 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 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/Executive Director 10.00 40.00 X X 0 155967 20476 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 155967 20476 0 0 1 0 0 844712 844712 340 340 845052 0 0 340 1829857 1829857 118211 63538 11821 42852 17224 17224 25528 9213 10102 6213 8418 4680 1080 2658 11250 6047 1125 4078 7903 4248 790 2865 Testing 4550 4550 0 0 2022941 1922133 42142 58666 12056 4980 1203398 100529 43823 0 1259277 105509 16348 40469 16348 40469 X 111400 -39421 1131529 104461 1242929 65040 1259277 105509 -1177889 0 X X 0 1 X 1 0 X 316000 709086 1723059 844712 3592857 316000 709086 1723059 844712 3592857 2238934 1353923 97 247 277 340 961 3593818 X Schedule A, Part II, Columns (a) - (e): Per the instructions public support is measured using a 5-year computation period that includes the current and four prior tax years (including short years). The organization had a short year in 2013. The below chart clarifies the information represented in Schedule A, Part II: Column (b) - 1 month period ending 6/30/14 Column (c) - Fiscal year ending 6/30/15 Column (d) - Fiscal year ending 6/30/16 Column (e) - Fiscal year ending 6/30/17 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 845052 0 845052 0 845052 2022941 0 2022941 0 2022941 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, 2017, Arete had no uncertain tax positions that qualify for recognition or disclosure in the financial statements. 1 Scholarship 450 1829857 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. 0 0 0 0 0 0 0 0 0 Derek Monjure President/Executive Director 0 155967 0 0 0 0 0 0 0 20476 0 176443 0 0 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, 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 7 None 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0