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Nonprofit · EIN 27-2494520

ARETE SCHOLARS FUND INC

Tax-exempt · DACULA, GA 30019

Financials

$6.2M$5.5M2022$6.2M$6M2023$7.4M$6.1M2024
Revenue Expenses · by fiscal year end
Financials of ARETE SCHOLARS FUND INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
June 30, 2025990$7,423,910$6,068,212$1,355,698$12,408,193$178,946$12,229,247
June 30, 2024990 (amended)$6,203,850$5,969,993$233,857$10,897,213$150,367$10,746,846
June 30, 2023990$6,176,961$5,500,936$676,025$10,292,233$8,183$10,284,050
Financial details: 990 for the year ended June 30, 2025

Revenue

Contributions, gifts and grants
$6,556,823
Program service revenue
$418,057
Investment income
$447,840
Other revenue
$1,190

Expenses

Grants and similar amounts paid
$5,084,994
Compensation of officers, directors and key employees
$82,687
Other salaries and wages
$553,089
Salaries, compensation and benefits (total)
$753,276
Professional fundraising fees
$0
Accounting fees
$61,449
Occupancy
$548
Travel
$44,849
Program services (functional)
$5,552,664
Management and general (functional)
$167,558
Fundraising (functional)
$347,990

Balance sheet and other

Total assets, start of year
$10,897,213
Total assets, end of year
$12,408,193
Total liabilities, end of year
$178,946
Net assets, end of year
$12,229,247
Publicly traded securities
$2,231,273
Net assets without donor restrictions
$320,138
Net assets with donor restrictions
$11,909,109
Gross receipts
$7,423,910
Employees
9
Volunteers
6
Year formed
2010
State of legal domicile
GA

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended June 30, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
Arthur DuprePresident
Trustee or director, Officer
40$307,184$38,875
Derek MonjureBoard Member
Trustee or director, Officer
1$0$0
Gregory BeadlesBoard Chairman
Trustee or director, Officer
1$0$0
James SmithSecretary
Trustee or director, Officer
1$0$0
990 for the year ended June 30, 2024: 4 people
NameTitleHours / weekCompensationOther / benefits
Arthur DuprePresident
Trustee or director, Officer
40$296,979$32,792
Derek MonjureBoard Member
Trustee or director, Officer
1$0$0
Gregory BeadlesBoard Chairman
Trustee or director, Officer
1$0$0
James SmithSecretary
Trustee or director, Officer
1$0$0
990 for the year ended June 30, 2023: 7 people
NameTitleHours / weekCompensationOther / benefits
Arthur DuprePresident
Trustee or director, Officer
40$244,388$14,457
Al PetrangeliTreasurer
Trustee or director, Officer
1$0$0
Chris PrinceVice President
Trustee or director, Officer
1$0$0
Gregory BeadlesBoard Chairman
Trustee or director, Officer
1$0$0
Terry TuckerSecretary
Trustee or director, Officer
1$0$0
Derek MonjureBoard Member
Trustee or director
1$0$0
James SmithBoard Member
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
3615 BRASELTON HWY, DACULA, GA 30019-5906
In care of
% GREG BEADLES
Principal officer (990 for 2024)
Arthur Dupre, 500 Buford Hwy NE Suite 1001 1020, Suwanee, GA 30024
Signed the 990
Arthur Dupre, President
Phone
(404) 697-2649
Return prepared by
The Ijaz Group LLC

Mission

To assist low-income students in reaching their highest potential through educational opportunity.

990 for the year ended June 30, 2025

Program accomplishments

  • Arete Scholars Fund invested more than $5 million in 1,247 scholars across Georgia not merely to pay tuition, but to open a door that changes a familys trajectory. Every Arete Scholar is recognized as a young person of potential whose gifts deserve a school environment designed to develop them. In FY 2025, Arete expanded its scholar development programming through four integrated pillarsAcademic Support, Leadership Formation, College & Career Pathways, and Sustaining Successproviding tutoring, mentorship, and post-secondary guidance alongside the scholarship itself. The development of area funds deepened partnerships with regional employers to create internship and workforce pathways for graduating scholars.
    Expenses $5,552,664 · grants $5,084,994

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in June, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025June 30, 2026November 16, 2026Not due yet
2024June 30, 2025November 17, 2025990 on file
2023June 30, 2024November 15, 2024990 on file

IRS record

EIN
27-2494520
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2010
Accounting year ends
June
Files
Form 990 or 990-EZ
Category (NTEE)
Education (B82)
Assets (IRS master file)
$12,408,193
Income (IRS master file)
$7,423,910

Filing history

FormYear endedRevenueExpensesAssetsReturn
990June 2025$7,423,910$6,068,212$12,408,193IRS
990June 2024$6,203,850$5,969,993$10,897,213XML
990June 2023$6,176,961$5,500,936$10,292,233XML
990June 2022$5,894,748$4,728,675$9,628,160IRS
990June 2021–––IRS
990June 2020–––IRS
990June 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 27-2494520).

Questions about ARETE SCHOLARS FUND INC

What is the EIN of ARETE SCHOLARS FUND INC?
The employer identification number (EIN) of ARETE SCHOLARS FUND INC is 27-2494520.
Is ARETE SCHOLARS FUND INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2010.
Are donations to ARETE SCHOLARS FUND INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does ARETE SCHOLARS FUND INC file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of ARETE SCHOLARS FUND INC due?
The return for tax year 2025 (the year ending June 30, 2026) is due November 16, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did ARETE SCHOLARS FUND INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended June 2025.
Who is the principal officer of ARETE SCHOLARS FUND INC?
The 990 for the year ended June 30, 2025 names Arthur Dupre.
Who are the officers and directors of ARETE SCHOLARS FUND INC?
The 990 for the year ended June 30, 2025 lists 4 people; 1 received compensation from the organization, the highest $307,184 (Arthur Dupre, President).
How much revenue does ARETE SCHOLARS FUND INC have?
On its 990 for the year ended June 30, 2025 it reported revenue of $7,423,910, expenses of $6,068,212 and total assets of $12,408,193 at year end.

Other nonprofits in DACULA

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