ARETE SCHOLARS FUND INC: Form 990, tax year 2010
View the entire original 990 at ProPublica ↗
- Organization
- ARETE SCHOLARS FUND INC (EIN 27-2494520)
- Tax period
- 2010-07-01 to 2011-06-30
- Filed
- 2011-11-15
- IRS object ID
- 201113199349303231
- Schema version
- 2010v3.4
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2011-11-15T10:08:05-06:00 | Timestamp |
| Tax Period End Date | 2011-06-30 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MAULDIN & JENKINS LLC | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 200 GALLERIA PARKWAY SE SUITE 1700 | AddressLine1 |
| City | ATLANTA | City |
| State | GA | State |
| ZIP Code | 303395946 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2010-07-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 272494520 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ARETE SCHOLARS FUND INC | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | ARET | NameControl |
| Phone | 4046972649 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 744 | AddressLine1 |
| City | DACULA | City |
| State | GA | State |
| ZIP Code | 30019 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | DEREK MONJURE | Name |
| Title | EXECUTIVE DIRECTOR | Title |
| Phone | 4049468450 | Phone |
| Date Signed | 2011-11-11 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JEFF T FUCITO | Name |
| Phone | 7709558600 | Phone |
| Self Employed | X | SelfEmployed |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2010 | TaxYear |
| Build TS | 2016-03-07 17:11:31Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Initial Return | X | InitialReturn |
| Name Of Principal Officer Person | GREGORY BEADLES | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 744 | AddressLine1 |
| City | DACULA | City |
| State | GA | State |
| ZIP Code | 30019 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 2463472 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c3 | X | Organization501c3 |
| Web Site | WWW.ARETESCHOLARS.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 2010 | YearFormation |
| State Legal Domicile | GA | StateLegalDomicile |
| Activity Or Mission Description | SEE SCHEDULE O FOR COMPLETE DESCRIPTION OF MISSION.ADVANCE EDUCATIONAL FREEDOM BY OFFERING K4-12 SCHOLARSHIPS TO LOW-INCOME FAMILIES ENABLING THEIR CHILDREN TO REACH THEIR HIGHEST POTENTIAL. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 3 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 3 | NbrIndependentVotingMembers |
| Total Nbr Employees | 2 | TotalNbrEmployees |
| Total Nbr Volunteers | 3 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Current Year | 2458500 | ContributionsGrantsCurrentYear |
| Program Service Revenue CY | 0 | ProgramServiceRevenueCY |
| Investment Income Current Year | 4972 | InvestmentIncomeCurrentYear |
| Other Revenue Current Year | 0 | OtherRevenueCurrentYear |
| Total Revenue Current Year | 2463472 | TotalRevenueCurrentYear |
| Grants And Similar Amnts CY | 1205045 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Current Year | 140210 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp CY | 44626 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 92654 | TotalFundrsngExpCurrentYear |
| Other Expenses Current Year | 111347 | OtherExpensesCurrentYear |
| Total Expenses Current Year | 1501228 | TotalExpensesCurrentYear |
| Revenues Less Expenses CY | 962244 | RevenuesLessExpensesCY |
| Total Assets EOY | 1000940 | TotalAssetsEOY |
| Total Liabilities EOY | 38696 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances EOY | 962244 | NetAssetsOrFundBalancesEOY |
| Mission Description | TO ASSIST PUBLIC EDUCATION IN HELPING THE CHILDREN WHO FACE THE GREATEST OBSTACLES TO ACADEMIC ACHIEVEMENT. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Expense | 1335748 | Expense |
| Grants | 1205045 | Grants |
| Description | ARETE SCHOLARS FUND, INC. AWARDED 262 K4-12 EDUCATION SCHOLARSHIPS, FOR A TOTAL OF $1,205,045, DURING THE 2010-2011 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 CHILDREN'S NEEDS. THE SCHOLARSHIPS PAY UP TO $5,800 FOR PRIVATE SCHOOL TUITION AND FEES. | Description |
| Total Program Service Expense | 1335748 | TotalProgramServiceExpense |
| Described In501 C3 | 1 | DescribedIn501C3 |
| Schedule B Required | 1 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Lobbying Activities | 0 | LobbyingActivities |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 0 | ReportLandBldgEquip |
| Report Invest Oth Securities | 0 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 0 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 1 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 0 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 1 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 1 | GrantsToIndividuals |
| Schedule J Required | 0 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Excess Benefit Transaction | 0 | ExcessBenefitTransaction |
| Prior Excess Benefit Transaction | 0 | PriorExcessBenefitTransaction |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 0 | RelatedEntity |
| Related Org Controlled Entity | 0 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Transfers To Exempt Non Chrtbl Org | 0 | TransfersToExemptNonChrtblOrg |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 0 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Number Of Employees | 2 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributions |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOf |
| Funds To Pay Premiums | 0 | FundsToPayPremiums |
| Premiums Paid | 0 | PremiumsPaid |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 3 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 3 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 1 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 0 | MembersOrStockholders |
| Election Of Board Members | 0 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 0 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 0 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 0 | InvestmentInJointVenture |
| States Where Copy Of Return Is Filed | GA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ALAN WEILER | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 4046972649 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 744 | AddressLine1 |
| City | DACULA | City |
| State | GA | State |
| ZIP Code | 30019 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (4 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | OfficerOfficer |
|---|---|---|---|---|---|---|
| GREGORY BEADLES | ||||||
| CHAIRMAN | 2.00 | X | 0 | 0 | 0 | |
| CHRIS PRINCE | ||||||
| VICE-CHAIRMAN | 1.00 | X | 0 | 0 | 0 | |
| AL PETRANGELI | ||||||
| BOARD MEMBER | 1.00 | X | 0 | 0 | 0 | |
| DEREK MONJURE | ||||||
| EXECUTIVE DIRECTOR | 40.00 | 44458 | 0 | 2731 | X | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 44458 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 2731 | TotalOtherCompensation |
| Number Individuals GT100 K | 0 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 0 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
| Number Of Contractors GT100 K | 0 | NumberOfContractorsGT100K |
| All Other Contributions | 2458500 | AllOtherContributions |
| Total Contributions | 2458500 | TotalContributions |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 4972 | TotalRevenueColumn |
| Exclusion | $4,972 | ExclusionAmount |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 2463472 | TotalRevenueColumn |
| Related Or Exempt Function Income | 0 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $4,972 | ExclusionAmount |
Grants To Domestic Individuals GrantsToDomesticIndividuals
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1205045 | Total |
| Program Services | 1205045 | ProgramServices |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 100882 | Total |
| Program Services | 40353 | ProgramServices |
| Management And General | 40353 | ManagementAndGeneral |
| Fundraising | 20176 | Fundraising |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 26680 | Total |
| Program Services | 5267 | ProgramServices |
| Management And General | 4217 | ManagementAndGeneral |
| Fundraising | 17196 | Fundraising |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3496 | Total |
| Program Services | 304 | ProgramServices |
| Management And General | 304 | ManagementAndGeneral |
| Fundraising | 2888 | Fundraising |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9152 | Total |
| Program Services | 3247 | ProgramServices |
| Management And General | 3167 | ManagementAndGeneral |
| Fundraising | 2738 | Fundraising |
Fees For Services Accounting FeesForServicesAccounting
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 763 | Total |
| Management And General | 763 | ManagementAndGeneral |
Fees For Services Prof Fundraising FeesForServicesProfFundraising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 44626 | Total |
| Fundraising | 44626 | Fundraising |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 67406 | Total |
| Program Services | 67406 | ProgramServices |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 150 | Total |
| Fundraising | 150 | Fundraising |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9383 | Total |
| Program Services | 2440 | ProgramServices |
| Management And General | 4657 | ManagementAndGeneral |
| Fundraising | 2286 | Fundraising |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 14276 | Total |
| Management And General | 14276 | ManagementAndGeneral |
Travel Travel
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 9791 | Total |
| Program Services | 9441 | ProgramServices |
| Fundraising | 350 | Fundraising |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 3249 | Total |
| Management And General | 3249 | ManagementAndGeneral |
Other Expenses OtherExpenses (3 entries)
| DescriptionDescription | TotalTotal | Program ServicesProgramServices | Management And GeneralManagementAndGeneral | FundraisingFundraising |
|---|---|---|---|---|
| MISCELLANEOUS | 4988 | 2245 | 499 | 2244 |
| BUSINESS REGISTRATION F | 1075 | 1075 | ||
| BANK FEES | 266 | 266 |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 1501228 | Total |
| Program Services | 1335748 | ProgramServices |
| Management And General | 72826 | ManagementAndGeneral |
| Fundraising | 92654 | Fundraising |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 24680 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 976260 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 1000940 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 38696 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 38696 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Follow SFAS117 | X | FollowSFAS117 |
Unrestricted Net Assets UnrestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 741449 | EOY |
Temporarily Restricted Net Assets TemporarilyRestrictedNetAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 220795 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 962244 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 1000940 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expenses | 962244 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 0 | ReconcilationOtherChanges |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
| Audit Committee | 0 | AuditCommittee |
| Financial Statement Separate | X | FinancialStatementSeparate |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org170b1 Avi | X | PubliclySupportedOrg170b1Avi |
Gifts Grants Contrib Received170 GiftsGrantsContribReceived170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | 2458500 | CurrentTaxYear |
| Total | 2458500 | Total |
Total170 Total170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | 2458500 | CurrentTaxYear |
| Total | 2458500 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Amounts Subst Contributors Total | 2169655 | AmountsSubstContributorsTotal |
| Public Support Total170 | 288845 | PublicSupportTotal170 |
Gross Investment Income170 GrossInvestmentIncome170
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year | 4972 | CurrentTaxYear |
| Total | 4972 | Total |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Support | 2463472 | TotalSupport |
| First5 Years170 | X | First5Years170 |
Schedule B IRS990ScheduleB
Contributor Info ContributorInfo
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor Number | RESTRICTED | ContributorNumber |
Contributor Name Business ContributorNameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor Address US ContributorAddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Aggregate Contributions | RESTRICTED | AggregateContributions |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 0 | TotalOfBookValueLandBuildings |
| Total Revenue | 2463472 | TotalRevenue |
| Total Expenses | 1501228 | TotalExpenses |
| Excess Or Deficit For Year | 962244 | ExcessOrDeficitForYear |
| Total Adjustments | 0 | TotalAdjustments |
| Excess Or Deficit Per FS | 962244 | ExcessOrDeficitPerFS |
| Tot Revenue Etc Audited Fincl Stmt | 2463472 | TotRevenueEtcAuditedFinclStmt |
| Revenue Not Rptd F990 | 0 | RevenueNotRptdF990 |
| Revenue Subtotal | 2463472 | RevenueSubtotal |
| Revenue Not Rptd On Fin Stmt | 0 | RevenueNotRptdOnFinStmt |
| Total Revenue Per Form990 | 2463472 | TotalRevenuePerForm990 |
| Tot Expenses Etc Audited Fincl Stmt | 1501228 | TotExpensesEtcAuditedFinclStmt |
| Expenses Not Rptd F990 | 0 | ExpensesNotRptdF990 |
| Expenses Subtotal | 1501228 | ExpensesSubtotal |
| Expenses Not Rptd On Fin Stmt | 0 | ExpensesNotRptdOnFinStmt |
| Total Expenses Per Form990 | 1501228 | TotalExpensesPerForm990 |
Form990 Schedule D Part XIV Form990ScheduleDPartXIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Explanation | THE ORGANIZATION IS EXEMPT FROM GOVERNMENTAL INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. IN ADDITION, THE ORGANIZATION IS CLASSIFIED AS OTHER THAN A PRIVATE FOUNDATION AND QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE ORGANIZATION'S TAX-EXEMPT PURPOSE WOULD BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE ORGANIZATION HAD NO ACTIVITIES WHICH WOULD RESULT IN UNRELATED BUSINESS INCOME FOR THE YEAR ENDED JUNE 30, 2011. ACCORDINGLY, NO INCOME TAXES HAVE BEEN CONSIDERED IN DETERMINING ITS CHANGE IN NET ASSETS. THE ORGANIZATION ACCOUNTS FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH ACCOUNTING STANDARDS THAT PROVIDE GUIDANCE ON WHEN UNCERTAIN TAX POSITION ARE RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND HOW THE VALUES OF THESE POSITIONS ARE DETERMINED. NO LIABILITY HAS BEEN RECORDED AS OF JUNE 30, 2011 DUE TO UNCERTAIN TAX POSITIONS. | Explanation |
Schedule G IRS990ScheduleG
| Field | Value | IRS element (for citing) |
|---|---|---|
| In Person Solicitations | X | InPersonSolicitations |
| Agreement Ref Fundraising | 1 | AgreementRefFundraising |
Fundraiser Activity Information FundraiserActivityInformation
Name Of Organization NameOfOrganization
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | SCHOLARSHIP ORGANIZATION NETWORK | BusinessNameLine1 |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 4655 SALISBURY ROAD SUITE 250 | AddressLine1 |
| City | JACKSONVILLE | City |
| State | FL | State |
| ZIP Code | 32256 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Activity | NETWORK & MARKET TO POTENTIAL DONORS INCLUDING CORPORATIONS. | Activity |
| Fundraiser Control Of Funds | 0 | FundraiserControlOfFunds |
| Gross Receipts | 0 | GrossReceipts |
| Amount Retained By Contractor | 17041 | AmountRetainedByContractor |
| Net To Organization | -17041 | NetToOrganization |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Retained By Contractors | 17041 | TotalRetainedByContractors |
| Total Net To Organization | -17041 | TotalNetToOrganization |
| Licensed States | GA | LicensedStates |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Records Maintained | 1 | RecordsMaintained |
Form990 Schedule I Part III Form990ScheduleIPartIII
| Field | Value | IRS element (for citing) |
|---|---|---|
| Type Of Grant | SCHOLARSHIPS | TypeOfGrant |
| Number Of Recipients | 262 | NumberOfRecipients |
| Amount Of Cash Grant | 1205045 | AmountOfCashGrant |
Form990 Schedule I Part IV Form990ScheduleIPartIV
| Field | Value | IRS element (for citing) |
|---|---|---|
| Identifier | PROCEDURE FOR MONITORING GRANTS IN THE U.S.: | Identifier |
| Return Reference | PART I, LINE 2: | ReturnReference |
| Explanation | SCHEDULE I, PART I, LINE 2: 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. | Explanation |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (6 entries)
| IdentifierIdentifier | ExplanationExplanation | Return ReferenceReturnReference |
|---|---|---|
| FORM 990, PART VI, SECTION A, LINE 3 | THE AMOUNT OF SCHOLARSHIP AWARD IS DETERMINED BY A FORMULA MATCHING HOUSEHOLD COMPOSITION AND INCOME AGAINST THE PUBLISHED FEDERAL FREE AND REDUCED LUNCH INCOME GUIDELINES. THE PROCESSING OF APPLICATIONS AND ADMINISTRATION OF AWARD LETTERS IS DELEGATED TO FLORIDA SCHOOL CHOICE FUND, INC. (STEP UP FOR STUDENTS). | |
| 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 | BOARD MEMBERS WILL BE PROVIDED A COPY OF THE FORM 990 PRIOR TO IT BEING FILED. | |
| APPLICABLE PERSONS PROVIDE INITIAL AS WELL AS SUBSEQUENT ANNUAL DISCLOSURE OF POTENTIAL CONFLICTS. ANY POTENTIAL CONFLICTS ARE DISCUSSED OR REVIEWED BY THE BOARD. | FORM 990, PART VI, SECTION B, LINE 12C | |
| THE BOARD DISCUSSES AND REVIEWS COMPENSATION. COMPARISONS ARE MADE TO INDUSTRY STANDARDS BEFORE APPROVING SALARIES FOR THE EXECUTIVE DIRECTOR AND DIRECTOR OF FINANCE AND OPERATIONS. THESE DELIBERATIONS ARE CONTEMPORANEOUSLY DOCUMENTED. | FORM 990, PART VI, SECTION B, LINE 15 | |
| DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST. | FORM 990, PART VI, SECTION C, LINE 19 |
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