2015-05-13T22:20:37-05:00 2014-06-30 363990892 Capin Crouse LLP 1255 Lakes Parkway Suite 130 Lawrenceville GA 30043 990 2013-07-01 272494520 Arete Scholars Fund Inc ARET 4046972649 PO Box 744 Dacula GA 30019 Derek Monjure Executive Director 4046972649 2015-05-13 1 David C Moja P00747006 6785185301 2013 2016-02-25 16:41:14Z Derek Monjure PO Box 744 Dacula GA 30019 3320385 0 X www.aretescholars.org X 2010 GA To assist low-income students reach their highest potential through educational opportunity. 4 3 6 9 0 0 6271527 3317945 0 0 3000 2440 29 0 6274556 3320385 4174194 3408436 0 0 371805 361754 0 0 150916 122213 201896 4668212 3972086 1606344 -651701 2542817 1897839 944 7667 2541873 1890172 To assist low-income students discover their talents & reach their highest potential through educational opportunity. 0 0 3587683 3408436 0 Arete Scholars Fund, Inc. awarded 707 K4-12 Education scholarships, for a total of $3,408,436, during the 2013-2014 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 $5,000 for private school tuition and fees. 3587683 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 4 0 1 6 1 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 GA X Mike Townsend 4049650600 3615 Braselton Suite 203 Dacula GA 30019 Gregory Beadles 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 Executive Director 40.00 10.00 X X 101055 0 12588 Al Petrangeli Treasurer 1.00 1.00 X X 0 0 0 Terry Tucker Secretary 1.00 1.00 X X 0 0 0 101055 0 12588 1 0 0 0 0 3317945 3317945 2440 2440 3320385 0 0 2440 3408436 3408436 118431 41451 41451 35529 189171 66210 66210 56751 30101 10535 10535 9031 24051 8418 8418 7215 300 180 120 50443 50443 24000 12000 12000 2810 1686 1124 33192 20754 7463 4975 16691 2670 12268 1753 5212 3127 2085 19084 19084 26061 6516 19545 4208 4208 Researching and testing 15500 15500 School development 2200 2200 Donor events 788 788 1407 1407 3972086 3587683 233487 150916 11152 7426 2525565 1886625 88 6100 3700 2542817 1897839 944 7667 944 7667 X 952680 684139 1589193 1206033 2541873 1890172 2542817 1897839 -651701 0 X 0 1 X 0 0 X 2458500 5802957 6271527 3317945 17850929 2458500 5802957 6271527 3317945 17850929 11946113 5904816 4972 6179 3000 2440 16591 29 29 17867549 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 3948086 3972086 348604 87151 0 0 22000 24000 348604 394604 591906 24000 24000 87151 87151 130727 0 X 3320385 0 3320385 0 3320385 3972086 0 3972086 0 3972086 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, 2014, 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 2009. 1 Scholarships 707 3408436 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, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part VI, Section B, Line 15b: No other officers or key employees are compensated. 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 0 0 0 1 0 0 Arete Scholars Louisiana Inc Q