Arete Education Inc is located in Bronx, NY. The organization was established in 2012. According to its NTEE Classification (O50) the organization is classified as: Youth Development Programs, under the broad grouping of Youth Development and related organizations. As of 06/2022, Arete Education Inc employed 74 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Arete Education 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 06/2022, Arete Education Inc generated $692.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $658.2k during the year ending 06/2022. While expenses have increased by 0.8% per year over the past 8 years. They've been increasing with an increasing level of total revenue. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ARETE EDUCATION, INC. TRAINS AND EMPOWERS YOUTHS TO LEAD SUCCESSFUL LIVES, BY PARTNERING WITH LOCAL SCHOOLS AND COMMUNITY GROUPS TO GROW INVESTMENT IN MOTT HAVEN YOUTHS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE OARET EDUCATION TRAINS AND EMPOWERS YOUTH TO LEAD SUCCESSFUL LIVES BY GETTING STUDENTS INTO GOOD COLLEGES, GOOD JOBS, AND HEALTHY MINDSETS. ARETE CLOSES THE EXPERIENCE WITH AN ADDITIONAL 500 HOURS OF ACADEMIC AND ENRICHMENT EXPERIENCES AND ACCESS TO: BOOKS AND COMPUTERS, HEALTHY MEALS, STRUCTURED EXERCISE, SOCIAL EMOTIONAL LEARNING, PAID INTERNSHIPS, FINANCIAL LIFE SKILLS, MENTORSHIP, AND TRIPS TO CULTURAL INSTITUTIONS.ARETE'S CORE YOUTH DEVELOPMENT SERVICES INCLUDE: (1) EXPANDED DAY FOR MIDDLE SCHOOL STUDENTS; (2) SUMMER BRIDGE INTEGRATED ARTS AND ACADEMICS INTENSIVE ALL-DAY, FIVE-WEEK PROGRAM; (3) COLLEGE BRIDGE HIGH SCHOOL CREDIT ACCELERATION AND PAID INTERNSHIP FIVE-WEEK PROGRAM; (4) WORK-BASED LEARNING AND PAID INTERNSHIPS IN TEACHING, STEM, AND THE ARTS; (5) INTEGRATED COLLEGE ACCESS SERVICES; AND (6) YEAR ROUND SERVICE LEARNING AND LEADERSHIP YOUTH DEVELOPMENT.ARETE EDUCATION PLAYS A VITAL ROLE IN THE MOTT HAVEN SECTION OF THE SOUTH BRONX, PROVIDING WRAPAROUND SUPPORT SERVICES TO 750 STUDENTS AND FAMILIES YEARLY. THIS COMMUNITY REPRESENTS SOME OF THE MOST VULNERABLE POPULATIONS IN NEW YORK STATE. IT HAS DISPROPORTIONALLY HIGH ASTHMA RATES AND OTHER PROBLEMATIC HEALTH INDICATORS THAT MADE IT ESPECIALLY SUSCEPTIBLE TO THE COVID-19 PANDEMIC. AN ESTIMATED 29% OF MOTT HAVEN RESIDENTS LIVE IN POVERTY, COMPARED TO 20% OF NYC RESIDENTS.THE DEMOGRAPHICS OF OUR CLIENTS INCLUDES YOUTH IN GRADES 6-12, 22% STUDENTS WITH SPECIAL NEEDS, 92% FREE AND REDUCED LUNCH, 9% ENGLISH LANGUAGE LEARNERS, AND 99% MINORITY (ASIAN, 1%, AFRICAN AMERICAN 14%, HISPANIC/LATINX 83%, WHITE 1%). THROUGH OUR DEEP PARTNERSHIPS WITH LOCAL SCHOOLS, ARETE HAS BEEN ABLE TO ENSURE 100% OF OUR STUDENTS GRADUATE ON TIME, WITH STRONG COLLEGE PLACEMENT AND ACCEPTANCE RATES. ARETE'S COLLEGE ACCESS PROGRAMS PROVIDE ALL HIGH SCHOOL STUDENTS TO AP COURSES, COLLEGE CREDITS (CLEP, COLLEGE HIGH SCHOOL BRIDGE PROGRAM), ONE-ON-ONE COLLEGE MENTORING, AND WORK-BASED LEARNING. OUR FLAGSHIP PARTNER SCHOOL, THE LABORATORY SCHOOL OF FINANCE & TECHNOLOGY: IS NATIONALLY RANKED WITH U.S. NEWS; HAS A 4-YEAR GRADUATION RATE OF 100% AND COLLEGE AND CAREER READINESS INDEX OF 87%; PERFORMS IN THE TOP 25% IN NYC SCHOOLS ON STATE EXAMS; AND OVER 90% OF HIGH SCHOOL STUDENTS TAKING ONE OR MORE AP COURSES AND OVER 60% OF 8TH GRADE SCHOOL STUDENTS RECEIVING HIGH SCHOOL CREDITS. ARETE ALSO PROVIDES PARTNER SCHOOLS WITH 500 HOURS OF EXTRA INSTRUCTION AND ARTS EDUCATION PER STUDENT THROUGHOUT THE CALENDAR YEAR.IN 2022, OUR KEY PROGRAM ACCOMPLISHMENTS INCLUDED: 1) 100% GRADUATION RATE: ALL SENIORS IN THE CLASS OF 2022 GRADUATED ON-TIME, TOOK AP CLASSES, THE SAT, AND WORKFORCE TRAINING.2) ALUMNI COLLEGE ENROLLMENT: YALE UNIVERSITY, WILLIAMS COLLEGE, BOSTON COLLEGE, COLUMBIA UNIVERSITY, BARNARD COLLEGE, FORDHAM UNIVERSITY, NEW YORK UNIVERSITY, CORNELL UNIVERSITY, SKIDMORE COLLEGE, BABSON COLLEGE3) $305,000 INVESTED IN CAREERS: ARETE INVESTS $185,000 ANNUALLY IN INTERNSHIP WAGES TO HIGH SCHOOL STUDENTS AND $120,000 ANNUALLY IN ALUMNI INTERNSHIP SUPERVISOR WAGES TO COLLEGE STUDENT ALUMNI. TWENTY PERCENT OF ARETE'S 2022 BUDGET IS INVESTED IN YOUTH CAREER DEVELOPMENT.4) COMMUNITY AMBASSADORS: OUR SOCIAL EMOTIONAL LEARNING CREATIVE EQ ARTS PROGRAM EMPOWERS MIDDLE SCHOOL STUDENTS TO BE EMOTIONAL INTELLIGENCE AMBASSADORS IN OUR COMMUNITIES, TEACHING PEERS, FAMILIES, AND STAFF MEMBERS ABOUT TRANSFORMATIVE LIFE SKILLS AND THE POWER OF BEING SMARTER WITH FEELINGS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Matt Mccambridge President | OfficerTrustee | 5 | $0 |
Kholofelo Mothibi Vice President | OfficerTrustee | 5 | $0 |
Sam Alexander Secretary | OfficerTrustee | 5 | $0 |
Jared Stellar Director | OfficerTrustee | 5 | $0 |
Ronnie Aroesty Director | Trustee | 5 | $0 |
Raymond Sanchez Director | Trustee | 5 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $573,759 |
All other contributions, gifts, grants, and similar amounts not included above | $81,553 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $655,312 |
Total Program Service Revenue | $0 |
Investment income | $0 |
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 | $692,847 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $57,692 |
Compensation of current officers, directors, key employees. | $19,758 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $343,706 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $9,473 |
Payroll taxes | $41,148 |
Fees for services: Management | $0 |
Fees for services: Legal | $1,626 |
Fees for services: Accounting | $0 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $76,453 |
Advertising and promotion | $0 |
Office expenses | $1,623 |
Information technology | $15,135 |
Royalties | $0 |
Occupancy | $13,000 |
Travel | $543 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $4,507 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $3,280 |
Insurance | $2,926 |
All other expenses | $2,189 |
Total functional expenses | $658,225 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $40,127 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $553,883 |
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 | $7,427 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $17,726 |
Total assets | $619,163 |
Accounts payable and accrued expenses | $173,926 |
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 | $0 |
Total liabilities | $173,926 |
Net assets without donor restrictions | $275,360 |
Net assets with donor restrictions | $169,877 |
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 | $619,163 |