Arete Scholars Louisiana Inc
- Assets
- $2.7m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 2
- Location
- Dacula, GA
- Founding
- 09/2014
- Data as of
- 06/2021
- EIN
- 61-1709239
Organization Overview
Arete Scholars Louisiana Inc is located in Dacula, GA. The organization was established in 2014. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2021, Arete Scholars Louisiana Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arete Scholars Louisiana Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Arete Scholars Louisiana Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $2.5m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST LOW-INCOME STUDENTS IN REACHING THEIR HIGHEST POTENTIAL THROUGH EDUCATIONAL OPPORTUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARETE SCHOLARS LOUISIANA, INC. AWARDED 520 K4-12 EDUCATION SCHOLARSHIPS, FOR A TOTAL OF $2,320,909 DURING THE 2020-2021 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 $4,412 FOR K-8 AND $4,964 FOR 9-12 FOR PRIVATE SCHOOL TUITION AND FEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James Smith President | OfficerTrustee | 10 | $0 |
Gregory Beadles Board Chairman | OfficerTrustee | 1 | $0 |
Terry Tucker Secretary | OfficerTrustee | 1 | $0 |
Al Petrangeli Treasurer | OfficerTrustee | 1 | $0 |
Chris Prince Vice Chairman | OfficerTrustee | 1 | $0 |
Derek Monjure Former Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $28,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,772,829 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,800,929 |
| Total Program Service Revenue | $0 |
| Investment income | $13,931 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,814,860 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,320,909 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $130,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,361 |
| Payroll taxes | $9,790 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,799 |
| Advertising and promotion | $406 |
| Office expenses | $6,141 |
| Information technology | $5,359 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,439 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $690 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $149 |
| Total functional expenses | $2,508,643 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,228 |
| Savings and temporary cash investments | $2,717,589 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,723,817 |
| Accounts payable and accrued expenses | $300 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $24,073 |
| Total liabilities | $24,373 |
| Net assets without donor restrictions | $182,614 |
| Net assets with donor restrictions | $2,516,830 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,723,817 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Arete Scholars Louisiana Inc has recieved totaling $19,420.
| Awarding Organization | Amount |
|---|---|
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,710 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,710 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
Vinik Family Foundation Tampa, FL | $192,173,639 | $29,773,809 |
The Hartwell Foundation Corporation Memphis, TN | $88,595,532 | $17,280,759 |
Morehead Cain Foundation Chapel Hill, NC | $0 | $13,275,596 |
Education Foundation Scholarship Endowment Trust Chapel Hill, NC | $389,903,195 | $25,351,334 |
Hire Heroes Usa Alpharetta, GA | $7,840,449 | $13,205,192 |
Scholarships For Kids Inc Birmingham, AL | $21,791,162 | $14,541,038 |
Apogee Georgia School Choice Scholarship Fund Atlanta, GA | $21,549,156 | $14,581,744 |
Special Operations Warrior Foundation Tampa, FL | $175,400,415 | $16,396,122 |
Amity Medical Group Inc Charlotte, NC | $3,300,228 | $10,911,191 |
Inspire Brands Foundation Inc Atlanta, GA | $11,528,068 | $11,993,911 |
Floridamakes Inc Orlando, FL | $1,478,174 | $9,967,367 |