Overview
What is Arete Scholars Fund Inc?
Arete Scholars Fund Inc, headquartered in Dacula, Georgia, is a nonprofit organization committed to aiding economically disadvantaged children. During the 2021-2022 fiscal year, they granted 1,352 scholarships to eligible low-income students for K4-12 education. These scholarships enable parents to choose a private school that best fits their children's needs, with each scholarship covering up to $4,000 in tuition and fees. The organization's mission is to empower these children by providing them with educational opportunities, enabling them to uncover and utilize their inherent talents. With a staff of five individuals, Arete Scholars Fund Inc is dedicated to assisting low-income students in reaching their full potential.
Official website here: www.aretescholars.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97% (Four-Star out of Four Star Rating)
Arete Scholars Fund Inc has achieved an impressive Four-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial management. The organization's accountability score is based entirely on its financial practices, and it boasts a high level of transparency, with no notable material diversions of assets and a well-structured independent board comprising 85% independent members.
The organization demonstrates excellent financial health, indicated by a low liabilities-to-assets ratio of 0.07% and a program expense ratio of 95.15%, ensuring that the vast majority of funds are directed toward its programs. Additionally, fundraising efficiency is commendable, with only $0.02 spent to raise each dollar, showcasing effective resource management.
Despite its strengths, the summary does not provide information on program impact or community feedback, which could offer further insights into the overall effectiveness of its initiatives. However, based solely on financial accountability and governance, Arete Scholars Fund Inc is well-positioned as a responsible and efficient nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Arete Scholars Fund Inc legitimate?
Arete Scholars Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Arete Scholars Fund Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $153,485
Professional Fundraising Fees: $0
Other Salaries and Wages: $120,623
For more financial information, click here
Official website here: www.aretescholars.org
What is the mission statement of Arete Scholars Fund Inc?
The mission of Arete Scholars Fund Inc is centered around assisting economically disadvantaged children. This organization aims to help these children uncover and utilize their unique abilities and talents through the provision of educational opportunities. During the 2021-2022 fiscal year, Arete Scholars Fund, Inc. granted 1,352 scholarships to eligible low-income students, enabling their parents to choose the best K4-12 private school for their children's needs. The scholarships cover up to $4,000 in tuition and fees, thereby expanding the educational choices for families who may otherwise be limited.
Official website here: www.aretescholars.org
Who is the CEO of Arete Scholars Fund Inc?
Arthur Dupre is the President (Part Year), Board Member of Arete Scholars Fund Inc.
Official website here: www.aretescholars.org
What is the revenue of Arete Scholars Fund Inc?
Arete Scholars Fund Inc's revenue in 2022 was $5,894,748.
Official website here: www.aretescholars.org
Who are the executives of Arete Scholars Fund Inc and what are their salaries?
The average compensation at Arete Scholars Fund Inc during 2022 was $54,822. There are 5 employees and 6 volunteers at Arete Scholars Fund Inc.
Here are 7 key members and their salaries:
- Compensation: $80,000
- Related: $0
- Other: $0
- Compensation: $69,198
- Related: $0
- Other: $12,112
- Compensation: $1,500
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.aretescholars.org
Where can I find the form 990 for Arete Scholars Fund Inc?
Arete Scholars Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.aretescholars.org
Learn more at the official website: www.aretescholars.org
Mission Statement of Arete Scholars Fund Inc
Arete Scholars Fund, Inc., a nonprofit organization, is dedicated to aiding economically disadvantaged children in realizing their full potential through educational opportunities. Its mission is to identify and facilitate the utilization of unique talents within these children, thereby providing them with the means to excel academically. During the 2021-2022 fiscal year, the organization awarded 1,352 scholarships to qualifying low-income students, enabling their parents to choose the best K4-12 private schools for their children's needs. These scholarships covered up to $4,000 in tuition and fees, expanding educational options for families with limited resources. Through its scholarship program, Arete Scholars Fund, Inc. enables economically disadvantaged children to pursue education in institutions that cater to their individual needs, thereby fostering their intellectual growth and future success.
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Impact
October, 2024
Arete Scholars Fund Inc significantly impacts low-income students and their families by providing vital educational opportunities. During the 2021-2022 fiscal year, the organization awarded 1,352 K4-12 education scholarships, specifically designed for qualifying low-income students. These scholarships, which cover up to $4,000 for private school tuition and fees, empower parents with limited options to choose the educational environment that best suits their children's needs.
By facilitating access to private schooling, Arete Scholars Fund plays a crucial role in helping economically disadvantaged children discover and harness their unique gifts and talents. This initiative not only enhances individual educational outcomes but also fosters a sense of agency among families, enabling them to pursue pathways that align with their aspirations for their children's future. Overall, the organization's efforts promote equity in education and contribute to the broader goal of supporting underrepresented communities in accessing quality schooling.
This information is meant to be a general summary of Arete Scholars Fund Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $29,825
- Gross Receipts: $5,894,748
Assets and Liabilities:
- Total Assets: $9,628,160
- Total Liabilities: $20,135
- Net Assets: $9,608,025
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Organization Details
Founding Year
2010
Phone
(404) 697-2649Principal Officer
Arthur Dupre
Main Address
3617 Braselton Hwy Suite 101, Dacula, GA, 30019
Website
www.aretescholars.orgNTEE Category
Code: B82 - Education
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