Civic Intelligence

Arete Education Inc.

990 • Fiscal year 2019 • EIN 80-0789207

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 15, 2020

Organization Profilewww.areteeducation.org

View Organization Page

557 Grand Concourse Suite 3 140Bronx, NY 10451

(917) 985-8980

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

68th percentile

0.22x

Higher debt load relative to assets than 68% of similar nonprofits.

2019 filings • NTEE O • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

63rd percentile

0.14x

Higher debt load relative to revenue than 63% of similar nonprofits.

2019 filings • NTEE O • $1M-$5M nonprofits • Source year 2019

Net Margin

69th percentile

15%

Higher net margin than 69% of similar nonprofits.

2019 filings • NTEE O • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

26th percentile

$0

Higher top officer pay than 26% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • NTEE O • $1M-$5M nonprofits • Source year 2019

Asset Growth

85th percentile

48%

Faster asset growth than 85% of similar nonprofits.

2019 filings • NTEE O • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

81st percentile

35%

Faster revenue growth than 81% of similar nonprofits.

2019 filings • NTEE O • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$1,018,717

Up $329,478 (+48%) from 2018

Net Assets

Up

$789,823

Up $248,395 (+46%) from 2018

Liabilities

Up

$228,894

Up $81,083 (+55%) from 2018

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin69th percentile

Revenue

Up

$1,611,082

Up $417,569 (+35%) from 2018

Expenses

Up

$1,362,687

Up $540,620 (+66%) from 2018

Net Income

Down

$248,395

Down $123,051 (-33%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth85th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$1.5M$1.0M$500K$0Assets 2012: $87,950Liabilities 2012: $0Net Assets 2012: $87,9502012Assets 2013: $173,677Liabilities 2013: $1,200Net Assets 2013: $172,4772013Assets 2014: $157,659Liabilities 2014: $16,013Net Assets 2014: $141,6462014Assets 2015: $183,727Liabilities 2015: $40,244Net Assets 2015: $143,4832015Assets 2016: $159,179Liabilities 2016: $75,529Net Assets 2016: $83,6502016Assets 2017: $236,110Liabilities 2017: $66,128Net Assets 2017: $169,9822017Assets 2018: $689,239Liabilities 2018: $147,811Net Assets 2018: $541,4282018Assets 2019: $1,018,717Liabilities 2019: $228,894Net Assets 2019: $789,8232019Assets 2020: $993,657Liabilities 2020: $343,390Net Assets 2020: $650,2672020Assets 2021: $552,003Liabilities 2021: $141,388Net Assets 2021: $410,6152021Assets 2022: $619,163Liabilities 2022: $173,926Net Assets 2022: $445,2372022Assets 2023: $831,925Liabilities 2023: $470,546Net Assets 2023: $361,3792023Assets 2024: $1,023,366Liabilities 2024: $762,728Net Assets 2024: $260,6382024

Highlighted filing

2019

Assets$1,018,717
Liabilities$228,894
Net Assets$789,823
Open 2019 Filing

Operations Trend

Revenue Growth81st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$2.0M$1.0M$0-$1.0MRevenue 2012: $110,042Expenses 2012: $22,092Net Income 2012: $87,9502012Revenue 2013: $204,299Expenses 2013: $119,772Net Income 2013: $84,5272013Revenue 2014: $413,511Expenses 2014: $458,496Net Income 2014: -$44,9852014Revenue 2015: $619,446Expenses 2015: $617,609Net Income 2015: $1,8372015Revenue 2016: $688,767Expenses 2016: $748,600Net Income 2016: -$59,8332016Revenue 2017: $1,045,491Expenses 2017: $959,159Net Income 2017: $86,3322017Revenue 2018: $1,193,513Expenses 2018: $822,067Net Income 2018: $371,4462018Revenue 2019: $1,611,082Expenses 2019: $1,362,687Net Income 2019: $248,3952019Revenue 2020: $1,509,408Expenses 2020: $1,616,737Net Income 2020: -$107,3292020Revenue 2021: $1,681,301Expenses 2021: $1,920,953Net Income 2021: -$239,6522021Revenue 2022: $692,847Expenses 2022: $658,225Net Income 2022: $34,6222022Revenue 2023: $1,195,519Expenses 2023: $1,279,377Net Income 2023: -$83,8582023Revenue 2024: $1,747,065Expenses 2024: $1,847,806Net Income 2024: -$100,7412024

Highlighted filing

2019

Revenue$1,611,082
Expenses$1,362,687
Net Income$248,395
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 15, 2020
Return Version
2019v5.1
Gross Receipts
$1,611,082
Mission and Program Overview

Mission

Arete education, inc. Is dedicated to providing engaging educational programming and enrichment experiences for at risk students through school partnerships, thoughout the calendar year.

Aret 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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$97,670$594,892▲ $497,222
Cash and Non-Interest-Bearing Accounts$583,143$416,393▼ $166,750
Prepaid Expenses and Deferred Charges$1,836$6,705▲ $4,869
Land, Buildings, and Equipment, Net$6,590$727▼ $5,863
Savings and Temporary Cash Investments$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$689,239$1,018,717▲ $329,478
Other Assets Total$0$0→ $0
Liabilities
Accounts Payable and Accrued Expenses$58,810$214,428▲ $155,618
Other Liabilities$89,001$14,466▼ $74,535
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$147,811$228,894▲ $81,083
Net Assets / Fund Balance
Net Assets With Donor Restrictions$489,768$787,550▲ $297,782
Net Assets Without Donor Restrictions$51,660$2,273▼ $49,387
Total Net Assets Fund Balance$541,428$789,823▲ $248,395
Total Liabilities and Net Assets / Fund Balance$689,239$1,018,717▲ $329,478

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$727$86,227$86,954
Compensation and Service Providers
Top Officer Pay26th percentile

Board Members and Trustees

NameTitle
Jerome GOLDMANPresident/director
Farhad AsgharDirector
John GaribaldiDirector
Matt MccambridgeDirector
Orly LaxDirector
Paul ByrneDirector
Ray SanchezDirector
Ronnie AroestyDirector
STEVE O'NEILLDirector
Shea GregoryDirector
Stephanie ChanDirector
Vanita GaonkarDirector
Jyotika BangaSecretary/director
Sam AlexanderExecutive Secretary
Ajai VargheseMember
Jared StellerMember
Kholofelo MothibiMember
Gabriella BarschdorffTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
None---
Revenue and Support

Revenue Composition

Contributions and Grants
$1,604,069
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$7,013
All Other Contributions
$145,330
Change in Net Assets
$248,395

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,611,082
Revenue Not Reported on Form 990
$12,720
Total Revenue per Audited Statements
$1,623,802
Total Revenue per Form 990
$1,611,082
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$841,953
Salaries, Compensation, and Employee Benefits$520,734
Total Fundraising Expense$18,555
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$394,252--$394,252
Other Salaries and Wages$348,529$23,479-$372,008
Current Officers, Directors, Trustees, and Key Employees$75,000$10,000$15,000$100,000
Fees for Services Accounting-$46,302-$46,302
Payroll Taxes$41,870$1,532$1,196$44,598
Office Expenses$8,552$9,921$1,016$19,489
Depreciation Depletion$5,863--$5,863
Other Employee Benefits$3,875$142$111$4,128
Information Technology$1,166$1,069$332$2,567
Insurance$1,175$870-$2,045
Advertising$1,905--$1,905
Other Expenses$335,758-$900$900
Total Functional Expenses$1,250,817$93,315$18,555$1,362,687

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,375,407
Expenses per Audited Statements$1,362,687
Total Expenses per Form 990$1,362,687
Expenses Not Reported on Form 990$12,720
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Stipends Payable$14,466
Loan Payable$0
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Section C. Disclosure

“Arete education, inc.'s organizing documents and financial statements are provided upon request.”

Filing and Contact Details

Filer

Filer Name
Arete Education Inc
EIN
80-0789207
In Care Of
% SARAH BENIS SCHEIER-DOLBERG
Phone
9179858980
Address
557 GRAND CONCOURSE SUITE 3 140, BRONX, NY 10451

Signing Officer

Name
Sarah Benis Scheier-dolberg
Title
Exec Director
Phone
2124903110
Signed
2020-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sarah Benis Scheier-Dolberg
Formed
2012
Legal Domicile
Ny
Voting Board Members
18
Independent Board Members
18
Employees
66
Volunteers
30

Preparer

Firm
Fulvio & Associates Llp
Address
5 W 37th Street 4th Fl, NEW YORK, NY 10018
Preparer
Gennaro J Fulvio
Phone
2124903113
Supplemental Narrative

Additional Explanations

Review of 990

“The officers and directors are actively involved with the review of the financial statements. The form 990 is reviewed and compared with the financial statements before filing.”

Form 990 Part IX Line 24 - Other Expenses

“Description:program material supplies expe total expenses:228543 program services:228543”

Form 990 Part IX Line 24 - Other Expenses

“Description:subcontractors total expenses:165709 program services:165709”

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IRS990/Desc0Afterschool and summer programming focusing on career and college preparation, the arts, Fitness, STEM, student leadership, community service, academic support, and family support services. Arete serves families in Mott Haven, South Bronx. An estimated 29% of Mott Haven residents live in poverty, compared to 20% of NYC residents. Arete partners with The Laboratory School of Finance and Technology (07X223) with 650 students, 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%). Student attendance is 94% and teacher attendance is 97%. Middle School students pass state exams above district averages 57% pass in ELA, 59% pass in Math. High School students have 88% 4-year graduation rate. Arete's programs provide youth employment & jobs training through the Teaching, Arts, and STEM internships; Summer Bridge and College Bridge programs; integrated SEL programs during and after the school day; family services and programming via Arete Family Help Hotline and the wrap around support of Learning Advocates.
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IRS990/MissionDesc0Aret Education, Inc. is a 501(c)3 not for profit organization that trains and empowers youths to lead successful lives, by partnering with local schools and community groups to grow investment in Mott Haven youths. Aret designs afterschool and summer programming that exposes youths to diverse career pathways; builds academic, wellness, and leadership skills; and expands access to the arts and culture. For more information, please visit www.areteeducation.org.
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Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,018,717
Liabilities
$228,894
Net assets
$789,823
Revenue
$1,611,082
Expenses
$1,362,687
Net income
$248,395
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$1.02$0.76$0.26$1.75$1.85$0.10
2023Detailed filing. Detailed filing data is available for this year.$0.83$0.47$0.36$1.20$1.28$0.08
2022Detailed filing. Detailed filing data is available for this year.$0.62$0.17$0.45$0.69$0.66$0.03
2021Detailed filing. Detailed filing data is available for this year.$0.55$0.14$0.41$1.68$1.92$0.24
2020Detailed filing. Detailed filing data is available for this year.$0.99$0.34$0.65$1.51$1.62$0.11
2019Detailed filing. Detailed filing data is available for this year.$1.02$0.23$0.79$1.61$1.36$0.25
2018Detailed filing. Detailed filing data is available for this year.$0.69$0.15$0.54$1.19$0.82$0.37
2017Detailed filing. Detailed filing data is available for this year.$0.24$0.07$0.17$1.05$0.96$0.09
2016Detailed filing. Detailed filing data is available for this year.$0.16$0.08$0.08$0.69$0.75$0.06
2015Detailed filing. Detailed filing data is available for this year.$0.18$0.04$0.14$0.62$0.62$0.00
2014Summary only. Only limited summary data is available for this year.$0.16$0.02$0.14$0.41$0.46$0.04
2013Summary only. Only limited summary data is available for this year.$0.17$0.00$0.17$0.20$0.12$0.08
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.09$0.00$0.09$0.11$0.02$0.09