2016-05-10T13:42:25-05:00 2015-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2014-07-01 272494520 Arete Scholars Fund Inc ARET 8772464095 3615 Braselton Highway No 203 Dacula GA 30019 Derek Monjure Executive Director 4046972649 2016-05-10 1 David C Moja P00747006 6785185301 2014 2016-08-17 19:52:53Z X Derek Monjure 3615 Braselton Highway No 203 Dacula GA 30019 3498981 0 X www.aretescholars.org X 2010 GA To assist low-income students reach their highest potential through educational opportunity. 5 4 4 4 0 0 3317945 3497113 0 0 2440 1868 0 0 3320385 3498981 3408436 1171622 0 0 361754 320176 0 0 104921 201896 193620 3972086 1685418 -651701 1813563 1897839 3704685 7667 950 1890172 3703735 To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. 0 0 1442603 1171622 Arete Scholars Fund, Inc. awarded 485 K4-12 Education scholarships, for a total of $1,168,327, during the 2014-2015 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 $2,500 for private school tuition and fees. 1442603 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 3 0 1 4 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 1 1 1 1 1 0 0 GA X Mike Townsend 4045423888 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/Executive Director 40.00 10.00 X X 102400 0 22120 Al Petrangeli Treasurer 1.00 1.00 X X 0 0 0 Terry Tucker Secretary 1.00 1.00 X X 0 0 0 102400 0 22120 1 0 0 0 0 3497113 3497113 1868 1868 3498981 0 0 1868 3295 3295 1168327 1168327 136157 47655 47655 40847 139201 111759 2340 25102 25377 20451 370 4556 19441 11627 3256 4558 46444 46444 24000 24000 15545 7266 8279 37098 15177 15972 5949 20919 6139 9629 5151 1174 1041 56 77 17694 10583 2963 4148 20991 12546 3503 4942 4740 4740 Researching and testing 160 160 4855 2577 966 1312 1685418 1442603 137894 104921 7426 8609 1886625 3693584 88 1042 3700 1450 1897839 3704685 7667 950 7667 950 X 684139 457127 1206033 3246608 1890172 3703735 1897839 3704685 1813563 0 X X 0 1 X 1 0 X 2458500 5802957 6271527 3317945 3497113 21348042 2458500 5802957 6271527 3317945 3497113 21348042 14029915 7318127 4972 6179 3000 2440 1868 18459 29 29 21366530 X Schedule A, Part II, Line 10, Explanation of Other Income: Miscellaneous income - 2012 Amount: $ 29. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24000 24000 1661418 1685418 234271 58568 0 0 22000 24000 348604 234271 628875 943313 24000 24000 48000 87151 58568 145719 218579 0 X 3498981 0 3498981 0 3498981 1685418 0 1685418 0 1685418 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, 2015, 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 2011. 1 Scholarships 485 1168327 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 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 annual conflict of interest statements. These statements are reviewed by the Executive Director. If a conflict were to arise, the interested Board member would abstain from voting on the issue. Form 990, Part VI, Section B, 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. 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, Part VI, Section B, Line 15b: No other officers or key employees are compensated. 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. This question was inadvertently checked "No" on prior years Form 990. 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 None 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 Arete Scholars Louisiana Inc N Arete Scholars Louisiana Inc Q