2011-11-15T10:08:05-06:00 2011-06-30 MAULDIN & JENKINS LLC 200 GALLERIA PARKWAY SE SUITE 1700 ATLANTA GA 303395946 990 2010-07-01 272494520 ARETE SCHOLARS FUND INC ARET 4046972649 PO BOX 744 DACULA GA 30019 DEREK MONJURE 4049468450 2011-11-11 1 JEFF T FUCITO 7709558600 X 2010 2016-03-07 17:11:31Z X GREGORY BEADLES PO BOX 744 DACULA GA 30019 2463472 0 X WWW.ARETESCHOLARS.ORG X 2010 GA 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. 3 3 2 3 0 0 2458500 0 4972 0 2463472 1205045 0 140210 44626 92654 111347 1501228 962244 1000940 38696 962244 TO ASSIST PUBLIC EDUCATION IN HELPING THE CHILDREN WHO FACE THE GREATEST OBSTACLES TO ACADEMIC ACHIEVEMENT. 0 0 1335748 1205045 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. 1335748 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 2 1 0 0 0 0 0 0 0 0 0 0 X 3 3 0 1 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 GA X ALAN WEILER 4046972649 PO BOX 744 DACULA GA 30019 GREGORY BEADLES 2.00 X 0 0 0 CHRIS PRINCE 1.00 X 0 0 0 AL PETRANGELI 1.00 X 0 0 0 DEREK MONJURE 40.00 X 44458 0 2731 44458 0 2731 0 0 0 0 0 2458500 2458500 4972 4972 2463472 0 0 4972 1205045 1205045 100882 40353 40353 20176 26680 5267 4217 17196 3496 304 304 2888 9152 3247 3167 2738 763 763 44626 44626 67406 67406 150 150 9383 2440 4657 2286 14276 14276 9791 9441 350 3249 3249 MISCELLANEOUS 4988 2245 499 2244 BUSINESS REGISTRATION F 1075 1075 BANK FEES 266 266 1501228 1335748 72826 92654 24680 976260 0 1000940 38696 0 38696 X 741449 220795 0 962244 0 1000940 962244 0 X 0 1 0 X 0 X 2458500 2458500 2458500 2458500 2169655 288845 4972 4972 2463472 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 2463472 1501228 962244 0 962244 2463472 0 2463472 0 2463472 1501228 0 1501228 0 1501228 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. X 1 SCHOLARSHIP ORGANIZATION NETWORK 4655 SALISBURY ROAD SUITE 250 JACKSONVILLE FL 32256 NETWORK & MARKET TO POTENTIAL DONORS INCLUDING CORPORATIONS. 0 0 17041 -17041 17041 -17041 GA 1 SCHOLARSHIPS 262 1205045 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: 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. 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. FORM 990, PART VI, SECTION B, LINE 12C 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 15 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 C, LINE 19 DOCUMENTS ARE AVAILABLE FOR REVIEW UPON REQUEST.