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      <OtherSecuritiesGrp>
        <Desc>Mutual Funds</Desc>
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      <TotalRevEtcAuditedFinclStmtAmt>11811118</TotalRevEtcAuditedFinclStmtAmt>
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      <RevenueNotReportedAmt>175290</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>11635828</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>11635828</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>8428095</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>8428095</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>8428095</TotalExpensesPerForm990Amt>
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      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
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      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
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      <InitialContractExceptionInd>false</InitialContractExceptionInd>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 8b</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, THIS LINE WAS ANSWERED NO IN ACCORDANCE WITH THE INSTRUCTIONS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 11b</FormAndLineReferenceDesc>
        <ExplanationTxt>FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED IN DETAIL BY THE ORGANIZATIONS TOP MANAGEMENT. THE REVIEWED FORM 990 IS THEN PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 12c</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD AND OFFICERS SIGN CONFLICT OF INTEREST STATEMENTS. THESE STATEMENTS ARE REVIEWED BY THE PRESIDENT. THE BOARD CHAIRMAN REVIEWS THE PRESIDENTS SIGNED STATEMENT. SHOULD ANY POTENTIAL CONFLICT OF INTEREST BE DISCLOSED, THE BOARD MEMBER OR OFFICER WILL BE ASKED TO REFRAIN FROM PARTICIPATION IN ANY DELIBERATION OR DECISION WITH REGARDS TO MATTERS AFFECTED BY THE RELATIONSHIP.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 15a</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INDEPENDENT BOARD DISCUSSES AND REVIEWS COMPENSATION. ANNUAL COMPARISONS ARE MADE TO INDUSTRY STANDARDS BEFORE APPROVING SALARIES FOR THE KEY EMPLOYEES. THEREFORE, THIS LINE WAS ANSWERED NO IN ACCORDANCE WITH THE INSTRUCTIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>ARETE SCHOLARS LOUISIANA MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATIONS WEBSITE.</ExplanationTxt>
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        <USAddress>
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          <CityNm>DACULA</CityNm>
          <StateAbbreviationCd>GA</StateAbbreviationCd>
          <ZIPCd>30019</ZIPCd>
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        <PrimaryActivitiesTxt>ASSIST LOW INCOME STUDENTS REACH THEIR HIGHEST POTENTIAL THROUGH EDUCATIONAL OPPORTUNITY</PrimaryActivitiesTxt>
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        <PublicCharityStatusTxt>10</PublicCharityStatusTxt>
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          <BusinessNameLine1Txt>ARETE SCHOLARS LOUISIANA INC</BusinessNameLine1Txt>
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      <ReceiptOfIntAnntsRntsRyltsInd>false</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>false</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>false</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>true</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>false</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>false</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>false</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>true</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>true</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>true</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>false</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
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</Return>