2017-05-15T15:14:26-05:00 2016-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2015-07-01 611709239 Arete Scholars Louisiana Inc ARET 4046972649 3615 Braselton Hwy Suite 201 No 203 Dacula GA 30019 Derek Monjure Executive Director 4046972649 2017-05-15 1 Daren Daiga P01074795 6785185301 2015 2021-01-29 14:40:06Z Derek Monjure 3615 Braselton Hwy Suite 201 No 203 Dacula GA 30019 1723336 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 709086 1723059 0 0 247 277 0 0 709333 1723336 185815 843157 0 0 112328 116797 5000 0 61026 69951 97316 373094 1057270 336239 666066 577950 1259277 1087 16348 576863 1242929 To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. 0 0 939041 843157 Arete Scholars Louisiana, Inc. awarded 219 K4-12 Education scholarships, for a total of $843,157 during the 2015-2016 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 $4,147 for K-8 and $4,666 for 9-12 for private school tuition and fees. 939041 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 0 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 Direct 10.00 40.00 X X 0 127900 17464 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 127900 17464 0 0 0 0 0 500 13823 1708736 1723059 277 277 0 500 0 0 1723336 0 0 277 1000 1000 842157 842157 101000 54288 10100 36612 8061 4333 806 2922 7736 4158 774 2804 15500 15500 983 688 107 188 42459 9875 25924 6660 11752 7925 1391 2436 123 86 13 24 15001 8063 1500 5438 10875 5845 1088 3942 Testing 623 623 1057270 939041 57203 61026 24245 12056 551145 1203398 43823 2560 577950 1259277 1087 16348 1087 16348 X 232690 111400 344173 1131529 576863 1242929 577950 1259277 666066 0 X X 0 1 X 1 0 X 316000 709086 1723059 2748145 316000 709086 1723059 2748145 1854741 893404 97 247 277 621 2748766 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 (c) - 1 month period ending 6/30/14 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 1723336 0 1723336 0 1723336 1057270 0 1057270 0 1057270 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 statement of activities. As of June 30, 2016, 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 Louisiana. Arete is generally no longer subject to U.S. federal and state income tax examinations by tax authorities for the years before 2013. 1 Scholarship 219 842157 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 11 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 reviewed by the organization's board of directors prior to filing. 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 - Explanation of Responsibility: 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 1 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 Arete Scholars Fund Inc C Arete Scholars Fund Inc M Arete Scholars Fund Inc P