2025-11-14T11:38:03-05:00 2025-06-30 540593442 WELLSCOLEMAN 5004 MONUMENT AVE RICHMOND VA 23230 990 2024-07-01 521277427 GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC GREA 8045277726 2821 EMERYWOOD PARKWAY STE 204 RICHMOND VA 232943726 TODD D MARTIN PRESIDENT AND CEO 8045277726 2025-11-14 true true REBECCA J TRES P01259619 8043581150 2025-11-14 2024 2025-03-06 01:10:19Z GRASP TODD D MARTIN 2821 EMERYWOOD PARKWAY SUITE 204 RICHMOND VA 23294 2500163 false X HTTP://GRASP4VA.ORG/ X 1983 VA TO PROVIDE RESOURCES TO STUDENTS AND FAMILIES IN NEED TO ACCESS FINANCIAL AID, SCHOLARSHIPS, PRIVATE FINANCIAL SUPPORT AND COUNSELING TO ENCOURAGE AND MAXIMIZE EACH STUDENT'S EDUCATIONAL OPPORTUNITIES. GRASP'S FOCUS IS ON INCREASING COLLEGE, TECHNICAL SCHOOL, AND WORKFORCE CREDENTIAL ACCESS AND GRADUATION RATES, PARTICULARLY AMONG FAMILIES WITHOUT SUFFICIENT FINANCIAL RESOURCES TO ACCOMPLISH THIS WITHOUT GRASP'S GUIDANCE AND FINANCIAL ASSISTANCE. 29 26 96 1 0 1835494 1698173 441250 507897 25997 294093 348236 -9978 2650977 2490185 700171 810559 0 1211270 1345666 7849 0 68513 314884 324876 2234174 2481101 416803 9084 8059909 8410475 2892409 2823385 5167500 5587090 X TO PROVIDE RESOURCES TO STUDENTS AND FAMILIES IN NEED TO ACCESS FINANCIAL AID, SCHOLARSHIPS, PRIVATE FINANCIAL SUPPORT AND COUNSELING TO ENCOURAGE AND MAXIMIZE EACH STUDENT'S EDUCATIONAL OPPORTUNITIES. GRASP'S FOCUS IS ON INCREASING COLLEGE, TECHNICAL SCHOOL, AND WORKFORCE CREDENTIAL ACCESS AND GRADUATION RATES, PARTICULARLY AMONG FAMILIES WITHOUT SUFFICIENT FINANCIAL RESOURCES TO ACCOMPLISH THIS WITHOUT GRASP'S GUIDANCE AND FINANCIAL ASSISTANCE. false false 1186644 393459 GRASP IS A NON-PROFIT ORGANIZATION SPECIALIZING WITH HELPING STUDENTS AND THEIR FAMILIES, REGARDLESS OF FINANCIAL RESOURCES, TO DEVELOP AN EDUCATIONAL PLAN FOR POST SECONDARY EDUCATION. GRASP'S PROFESSIONAL FINANCIAL AID ADVISORS WORK IN HIGH SCHOOLS AND PRIVATE SETTINGS, WITHOUT CHARGE TO STUDENTS AND FAMILIES, TO ASSIST WITH OVERCOMING FINANCIAL AND MOTIVATIONAL CHALLENGES TO THE GOAL OF HIGHER EDUCATION. 392770 371800 114438 UNIQUE AMONG MANY COLLEGE ACCESS AND SUCCESS PROGRAMS, GRASP OPERATES SEVERAL SCHOLARSHIP PROGRAMS, INCLUDING AT LEAST ONE SCHOLARSHIP FOR EVERY SCHOOL IT SERVES. STUDENTS HAVE THE OPTION TO USE THESE SCHOLARSHIPS FOR 2-YEAR, 4-YEAR, AND TRADE SCHOOLS. 261154 261154 240000 GRASP ANTICIPATES CONTINUING TO TAKE ADVANTAGE OF THE VIRGINIA NEIGHBORHOOD ASSISTANCE TAX CREDIT PROGRAM ("NAP") AND EDUCATION IMPROVEMENT SCHOLARSHIP PROGRAM ("EISP"). THE NAP AND EISP PROGRAMS PROVIDE SIGNIFICANT TAX INCENTIVES TO VIRGINIA PRIVATE AND BUSINESS DONORS WHO SUPPORT SCHOLARSHIPS AND OTHER TUITION ASSISTANCE PROGRAMS OF (1) STUDENTS AND FAMILIES OF LOW TO MODEST FINANCIAL MEANS AND (2) PROVIDE SCHOLASTIC ASSISTANCE IN DEVELOPING POST - SECONDARY ACADEMIC AND VOCATIONAL PLANS FOR CHILDREN WITH ONE OR MORE DISABILITIES AS DEFINED UNDER THE FEDERAL IDEA LEGISLATION. THE NAP PROGRAM REQUIRES THAT MORE THAN 50% OF GRASP TAX CREDIT DERIVED REVENUES ARE USED FOR EDUCATION SERVICES IN SUPPORT OF STUDENTS AND FAMILIES WITH INCOME AT OR BELOW 300% OF THE RECOGNIZED POVERTY LEVEL OF INCOME OR 400% OF THE RECOGNIZED POVERTY LEVEL FOR STUDENTS WITH DISABILITIES. THE EISP PROGRAM, A SCHOLARSHIP PROGRAM FOR STUDENTS IN K-12 WHO WISH TO ATTEND A PRIVATE SCHOOL, REQUIRES THAT AT LEAST 90% OF TAX CREDIT GENERATED REVENUES UNDER THIS PROGRAM BE PAID OUT IN SCHOLARSHIPS FOR STUDENTS AT OR BELOW 300% OF POVERTY, OR IN THE CASE OF STUDENTS WITH DISABILITIES, 400% OF POVERTY BY THE END OF THE FOLLOWING FISCAL YEAR END. THE GRASP BOARD HAS DIRECTED THAT PREFERENCE BY GIVEN TO SCHOLARSHIPS FOR STUDENTS WITH DISABILITIES ATTENDING PRIVATE SCHOOLS WITH SPECIALIZED DISABILITY SERVICES UNDER THE EISP PROGRAM. 177605 177605 IN 2024, GRASP LAUNCHED THE PATHWAYS SCHOLARSHIP PROGRAM, A NEW 4-YEAR PILOT INITIATIVE DESIGNED TO HELP RICHMOND, VIRGINIA'S YOUTH OVERCOME THE BARRIERS THAT TOO OFTEN PREVENT THEM FROM REACHING THEIR FULL POTENTIAL. MANY YOUNG PEOPLE IN RICHMOND FACE SIGNIFICANT BUT SURMOUNTABLE CHALLENGES AS THEY TRANSITION FROM HIGH SCHOOL TO POSTSECONDARY EDUCATION. TO ADDRESS THESE BARRIERS, THE PATHWAYS PROGRAM WILL OFFER OPPORTUNITIES TO EXPLORE POSTSECONDARY OPTIONS, EDUCATE YOUTH REGARDING SETTING AND ACHIEVING LONG- TERM GOALS, AND SUPPORT YOUTH TO APPLY FOR FINANCIAL AID AND COMMUNITY COLLEGE. IN ADDITION, PARTICIPANTS WILL RECEIVE A SCHOLARSHIP AND A MONTHLY STIPEND TO COVER BASIC LIVING NEEDS FOR UP TO THREE YEARS WHILE ATTENDING COMMUNITY COLLEGE. THIS PROGRAM IS A CRITICAL RESOURCE FOR KEEPING RICHMOND PUBLIC SCHOOL STUDENTS AT RISK OF DROPPING OUT ENGAGED AND SUPPORTED. INITIAL FUNDING FROM THE CITY OF RICHMOND ENSURES THAT THE PROGRAM WILL BE SUSTAINABLE THROUGHOUT ITS FOUR-YEAR PILOT PHASE. 177605 177605 2018173 true true false false false false false false false false true false true false true false true false false false false false false false false false false false true true false false false false false false false false false false false false false false false false false true 0 0 false 96 true false false false false false false false false X 29 26 false false false false false false false true true false false true true true true true true true false false X X GREAT ASPIRATIONS SCHOLARSHIP PROGRAM INC 8045277726 2821 EMERYWOOD PARKWAY SUITE 204 GLEN ALLEN VA 23294 TODD D MARTIN PRESIDENT AN 40.00 X 147027 0 12930 ANNE MICHIE CHIEF COMPLI 40.00 X 92292 0 15483 PATRICIA Y GORDON CHIEF FINANC 30.00 X 57856 0 15910 RICHARD ADAMS DIRECTOR 1.00 X 0 0 0 KENNETH BARKER DIRECTOR 1.00 X 0 0 0 RANDOLPH BEALES DIRECTOR 1.00 X 0 0 0 CHERYL BURKE DIRECTOR 1.00 X 0 0 0 KRISTIN CARLETON DIRECTOR 1.00 X 0 0 0 DAVID DIDAWICK DIRECTOR 1.00 X 0 0 0 CHUCK DUVALL DIRECTOR 1.00 X 0 0 0 KENNETH DYE DIRECTOR 1.00 X 0 0 0 JUAN ESPINOZA DIRECTOR 1.00 X 0 0 0 MELODY HACKNEY DIRECTOR 1.00 X 0 0 0 JULIAN HILLERY DIRECTOR 1.00 X 0 0 0 LORRAINE JUSTICE DIRECTOR 1.00 X 0 0 0 EBONY LAMBERT DIRECTOR 1.00 X 0 0 0 CHRISTOPHER LLOYD DIRECTOR 1.00 X 0 0 0 SUE ANN MESSMER DIRECTOR 1.00 X 0 0 0 LYLE MOFFETT DIRECTOR 1.00 X 0 0 0 WILLIAM MOREFIELD DIRECTOR 1.00 X 0 0 0 SABENA MORETZ DIRECTOR 1.00 X 0 0 0 KELLI PARKER DIRECTOR 1.00 X 0 0 0 ED REED DIRECTOR 1.00 X 0 0 0 PAULA ROBINSON VICE CHAIR 1.00 X X 0 0 0 SARAH SCARBROUGH DIRECTOR 1.00 X 0 0 0 LEVAR STONEY DIRECTOR 1.00 X 0 0 0 WALTER STOSCH CHAIRMAN 1.00 X X 0 0 0 GARY THOMSON TREASURER 1.00 X X 0 0 0 VAN WILSON DIRECTOR 1.00 X 0 0 0 297175 44323 1 false true false 3299 500000 1194874 1698173 VA 529 SCHOOL FEES 611710 256000 256000 SOAR VIRGINIA 611710 108500 108500 PUBLIC SCHOOL ADVISOR FEES 611710 77500 77500 OTHER REVENUE 611710 61517 61517 FEES EARNED SCHOLARSHIPS 611430 4380 4380 507897 294093 294093 3299 9978 -9978 -9978 2490185 507897 284115 810559 810559 312377 115233 141362 55782 849732 739242 108977 1513 94271 68817 20740 4714 89286 65179 19643 4464 27500 27500 10990 10990 49603 31042 18561 41554 39117 2437 30371 20970 9401 42135 33712 8423 6586 6586 5912 5912 TRAINING EXPENSES 54621 53009 1612 PROGRAM EXPENSES 43800 34692 7103 2005 BANK CHARGES 3879 6 3873 DUES AND SUBSCRIPTIONS 3751 3396 320 35 4174 3199 975 2481101 2018173 394415 68513 418300 709011 1834442 1545114 12400 8750 6200 55505 46087 16004 9418 5658087 6038005 120676 93977 8059909 8410475 5449 155053 2574705 2886960 93627 2892409 2823385 X 4728718 5431606 438782 155484 5167500 5587090 8059909 8410475 X 9084 403919 6587 X false true X true false X 1512737 1871016 2054396 2984194 1698173 10120516 1512737 1871016 2054396 2984194 1698173 10120516 10120516 337958 -245617 190293 374233 294093 950960 172684 179000 351684 11423160 507897 0.88600 0.90130 X PART II, LINE 10 351,684 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED INVESTMENT IN VIRGINIA529 PLANS 6038005 F 6038005 LEASE LIABILITY 93627 93627 2901008 403919 3513 3391 410823 2490185 2490185 2481418 3513 3391 6904 2474514 6587 6587 2481101 SCHEDULE D, PAGE 4, PART XI, LINE 2D FUNDRAISING EXPENSES 3,391 SCHEDULE D, PAGE 4, PART XII, LINE 2D FUNDRAISING EXPENSES 3,391 SCHEDULE D, PAGE 4, PART XII, LINE 4B BOOK / TAX DEPRECIATION DIFFERENCE 6,587 true SCHOLARSHIPS 291 371800 EISP SCHOLARSHIP 31 261154 PATHWAYS SCHOLARSHIPS 58 177605 SCHEDULE I, PAGE 1, PART I, LINE 2 ORGANIZATION, WITH FEW EXCEPTIONS, MAKES SCHOLARSHIP CHECK DIRECTLY PAYABLE TO THE PRIVATE K-12 SCHOOL, COLLEGE OR UNIVERSITY FOR WHICH THE STUDENT ATTENDS. SCHOLARSHIPS ARE BASED ON A COMPETITIVE APPLICATION PROCESS. EACH SCHOLARSHIP APPLICATION IS INDIVIDUALLY REVIEWED. X false false false false false false false false false TODD D MARTIN PRESIDENT AND CEO 147027 12930 159957 FORM 990 - ORGANIZATION'S MISSION TO PROVIDE RESOURCES TO STUDENTS AND FAMILIES IN NEED TO ACCESS FINANCIAL AID, SCHOLARSHIPS, PRIVATE FINANCIAL SUPPORT AND COUNSELING TO ENCOURAGE AND MAXIMIZE EACH STUDENT'S EDUCATIONAL OPPORTUNITIES. GRASP'S FOCUS IS ON INCREASING COLLEGE, TECHNICAL SCHOOL, AND WORKFORCE CREDENTIAL ACCESS AND GRADUATION RATES, PARTICULARLY AMONG FAMILIES WITHOUT SUFFICIENT FINANCIAL RESOURCES TO ACCOMPLISH THIS WITHOUT GRASP'S GUIDANCE AND FINANCIAL ASSISTANCE. FORM 990, PAGE 2, PART III, LINE 4C GRASP ANTICIPATES CONTINUING TO TAKE ADVANTAGE OF THE VIRGINIA NEIGHBORHOOD ASSISTANCE TAX CREDIT PROGRAM ("NAP") AND EDUCATION IMPROVEMENT SCHOLARSHIP PROGRAM ("EISP"). THE NAP AND EISP PROGRAMS PROVIDE SIGNIFICANT TAX INCENTIVES TO VIRGINIA PRIVATE AND BUSINESS DONORS WHO SUPPORT SCHOLARSHIPS AND OTHER TUITION ASSISTANCE PROGRAMS OF (1) STUDENTS AND FAMILIES OF LOW TO MODEST FINANCIAL MEANS AND (2) PROVIDE SCHOLASTIC ASSISTANCE IN DEVELOPING POST - SECONDARY ACADEMIC AND VOCATIONAL PLANS FOR CHILDREN WITH ONE OR MORE DISABILITIES AS DEFINED UNDER THE FEDERAL IDEA LEGISLATION. THE NAP PROGRAM REQUIRES THAT MORE THAN 50% OF GRASP TAX CREDIT DERIVED REVENUES ARE USED FOR EDUCATION SERVICES IN SUPPORT OF STUDENTS AND FAMILIES WITH INCOME AT OR BELOW 300% OF THE RECOGNIZED POVERTY LEVEL OF INCOME OR 400% OF THE RECOGNIZED POVERTY LEVEL FOR STUDENTS WITH DISABILITIES. THE EISP PROGRAM, A SCHOLARSHIP PROGRAM FOR STUDENTS IN K-12 WHO WISH TO ATTEND A PRIVATE SCHOOL, REQUIRES THAT AT LEAST 90% OF TAX CREDIT GENERATED REVENUES UNDER THIS PROGRAM BE PAID OUT IN SCHOLARSHIPS FOR STUDENTS AT OR BELOW 300% OF POVERTY, OR IN THE CASE OF STUDENTS WITH DISABILITIES, 400% OF POVERTY BY THE END OF THE FOLLOWING FISCAL YEAR END. THE GRASP BOARD HAS DIRECTED THAT PREFERENCE BY GIVEN TO SCHOLARSHIPS FOR STUDENTS WITH DISABILITIES ATTENDING PRIVATE SCHOOLS WITH SPECIALIZED DISABILITY SERVICES UNDER THE EISP PROGRAM. FORM 990, PAGE 2, PART III, LINE 4D IN 2024, GRASP LAUNCHED THE PATHWAYS SCHOLARSHIP PROGRAM, A NEW 4-YEAR PILOT INITIATIVE DESIGNED TO HELP RICHMOND, VIRGINIA'S YOUTH OVERCOME THE BARRIERS THAT TOO OFTEN PREVENT THEM FROM REACHING THEIR FULL POTENTIAL. MANY YOUNG PEOPLE IN RICHMOND FACE SIGNIFICANT BUT SURMOUNTABLE CHALLENGES AS THEY TRANSITION FROM HIGH SCHOOL TO POSTSECONDARY EDUCATION. TO ADDRESS THESE BARRIERS, THE PATHWAYS PROGRAM WILL OFFER OPPORTUNITIES TO EXPLORE POSTSECONDARY OPTIONS, EDUCATE YOUTH REGARDING SETTING AND ACHIEVING LONG- TERM GOALS, AND SUPPORT YOUTH TO APPLY FOR FINANCIAL AID AND COMMUNITY COLLEGE. IN ADDITION, PARTICIPANTS WILL RECEIVE A SCHOLARSHIP AND A MONTHLY STIPEND TO COVER BASIC LIVING NEEDS FOR UP TO THREE YEARS WHILE ATTENDING COMMUNITY COLLEGE. THIS PROGRAM IS A CRITICAL RESOURCE FOR KEEPING RICHMOND PUBLIC SCHOOL STUDENTS AT RISK OF DROPPING OUT ENGAGED AND SUPPORTED. INITIAL FUNDING FROM THE CITY OF RICHMOND ENSURES THAT THE PROGRAM WILL BE SUSTAINABLE THROUGHOUT ITS FOUR-YEAR PILOT PHASE. FORM 990, PAGE 6, PART VI, LINE 11B THE FINAL VERSION FORM 990 IS E-MAILED TO THE CHIEF FINANCIAL OFFICER WHO THEN EMAILS THE RETURN TO EACH VOTING BOARD MEMBER BEFORE THE FORM 990 IS E-FILED. THE FORM 990 IS REVIEWED BY THE CHIEF FINANCIAL OFFICER, TREASURER, PRESIDENT AND AUDIT COMMITTEE CHAIR BEFORE THE RETURN IS RELEASED FOR E-FILING TO THE IRS. ALL BOARD MEMBERS WILL HAVE RECEIVED THE RETURN BEFORE ITS FILING. FORM 990, PAGE 6, PART VI, LINE 12C GRASP'S CONFLICT OF INTEREST POLICY DOCUMENT IDENTIFIES PROCEDURES FOR DETERMINING WHETHER A CONFLICT OF INTEREST EXISTS, THE DISLOSURE OF SUCH, AND ACTIONS TO BE TAKEN BY THE BOARD MEMBER AND THE GOVERNING BOARD UPON DISCLOSURE OF SUCH A CONFLICT. GRASP HAS DOCUMENTED ITS PROCEDURES FOR ADDRESSING ANY CONFLICTS OF INTEREST AND VIOLATIONS OF THE POLICY, WHEN DETERMINED TO HAVE OCCURED. ANNUALLY, EACH BOARD MEMBER, COMMITTEE MEMBER, AND MANAGER WITH BOARD- DELEGATED POWERS SHALL SIGN A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AND HAS AGREED TO COMPLY WITH THE POLICY. OUTSIDE ADVISORS MAY BE USED BY GRASP TO ASSIST ITS BOARD WITH MONITORING ITS COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY. FORM 990, PAGE 6, PART VI, LINE 15A COMPENSATION OF THE CHIEF EXECUTIVE OFFICER IS SUBJECT TO REVIEW AND APPROVAL BY THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS ON AN ANNUAL BASIS. FORM 990, PAGE 6, PART VI, LINE 19 GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC ON THE PUBLIC WEBSITE. FORM 990, PART XI, LINE 9 FUNDRAISING EXPENSES 3,391 FUNDRAISING EXPENSES -3,391 BOOK / TAX DEPRECIATION DIFFERENCE 6,587 TOTAL 6,587