2018-05-14T17:16:08-05:00 2017-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2016-07-01 272494520 Arete Scholars Fund 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 5241609 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 4969050 5237408 0 0 2168 4201 -27252 -2298 4943966 5239311 1769126 2901626 0 0 350301 312625 0 0 97682 199994 154249 2319421 3368500 2624545 1870811 6349891 8199091 21611 0 6328280 8199091 To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. 0 0 3147381 2901626 0 Arete Scholars Fund, Inc. awarded 720 K4-12 Education scholarships 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 $4,000 for private school tuition and fees. 3147381 1 1 0 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 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 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/President 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/Exec. Director 40.00 10.00 X X 155967 0 20476 Al Petrangeli Treasurer 1.00 1.00 X X 0 0 0 Terry Tucker Secretary 1.00 1.00 X X 0 0 0 155967 0 20476 1 0 1 0 0 7502 5229906 5237408 4201 4201 0 7502 2298 -2298 -2298 5239311 0 0 1903 3000 3000 2898626 2898626 158975 95272 25278 38425 91511 54842 14551 22118 46019 27579 7317 11123 16120 9661 2563 3896 39900 656 38980 264 1650 1650 35526 20604 6743 8179 25395 8544 14405 2446 16296 9766 2591 3939 28212 16907 4486 6819 4562 4562 2708 1924 311 473 3368500 3147381 123437 97682 22414 14700 6274124 8142013 52153 41178 1200 1200 6349891 8199091 21611 0 21611 0 X 286327 335966 6041953 7863125 6328280 8199091 6349891 8199091 1870811 0 X X 0 1 X 1 0 X 6271527 3317945 3497113 4969050 5237408 23293043 6271527 3317945 3497113 4969050 5237408 23293043 0 0 0 23293043 3000 2440 1868 2168 4201 13677 3000 2440 1868 2168 4201 13677 29 1856 1885 6274556 3320385 3498981 4973074 5241609 23308605 0.99930 0.99930 0.00060 0.00070 X Schedule A, Part III, Line 12, Explanation of Other Income: Miscellaneous income - 2012 Amount: $ 29. 2013 Amount: $ 0. 2014 Amount: $ 0. 2015 Amount: $ 0. 2016 Amount: $ 0. Special event income - 2012 Amount: $ 0. 2013 Amount: $ 0. 2014 Amount: $ 0. 2015 Amount: $ 1,856. 2016 Amount: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 348604 234271 267426 850301 1275452 24000 24000 18000 66000 87151 58568 66857 212576 318864 0 X 5241609 2298 2298 5239311 0 5239311 3370798 2298 2298 3368500 0 3368500 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. 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 2,298. Part XII, Line 2d - Other Adjustments: Fundraising event expense 2,298. 1 Scholarships 720 2898626 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. 0 0 0 0 0 0 0 0 0 Derek Monjure President/Exec. Director 155967 0 0 0 0 0 0 0 20476 0 176443 0 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. These statements are reviewed by the Executive Director. 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 Executive Director. 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 655 St Ferdinand Street Baton Rouge LA 70802 611709239 Assist low-income students reach their highest potential through education. LA 501(c)(3) Line 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0