2016-05-10T13:46:07-05:00 2015-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2014-07-01 611709239 Arete Scholars Louisiana 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 709333 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 316000 709086 0 0 97 247 0 0 316097 709333 61134 185815 0 0 411 112328 0 5000 65664 13928 69951 75473 373094 240624 336239 241733 577950 1109 1087 240624 576863 To help economically disadvantaged children discover and use their unique gifts and talents through educational opportunity. 0 0 272512 185815 Arete Scholars Louisiana, Inc. awarded 50 K4-12 Education scholarships, for a total of $185,815 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 $4,554 for private school tuition and fees. 272512 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 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 102400 22120 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 102400 22120 0 0 0 0 0 158780 550306 709086 247 247 0 158780 0 0 709333 0 0 247 185815 185815 97154 52220 9716 35218 7464 4012 746 2706 7710 4144 771 2795 16600 16600 5000 5000 2745 2745 2155 1019 446 690 2626 1242 544 840 13167 6227 2726 4214 15001 8063 1500 5438 15048 8088 1505 5455 1759 832 364 563 Testing 850 850 373094 272512 34918 65664 12370 24245 229363 551145 2560 241733 577950 1109 1087 1109 1087 X 238887 232690 1737 344173 240624 576863 241733 577950 336239 0 X X 0 1 X 1 0 X 316000 709086 1025086 316000 709086 1025086 763536 261550 97 247 344 1025430 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 (d) - 1 month period ending 6/30/14 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 709333 0 709333 0 709333 373094 0 373094 0 373094 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, 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 Louisiana. Arete is generally no longer subject to U.S. federal and state income tax examinations by tax authorities for the years before 2011. Golf Tournament 158780 158780 158780 158780 1 Scholarship 50 185815 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 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. These statements are reviewed by the Board Vice Chairman. If a conflict were to arise, the affected Board members would recuse themselves and abstain from voting on the issue. Form 990, Part VI, Section B, line 15 No officers or key employees were paid during the tax year. Line 15a and 15b have been answered no according to 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. This question was inadvertently checked "No" on prior years Form 990. 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 1 0 1 0 0 0 Arete Scholars Fund Inc N 0 Arete Scholars Fund Inc P