Great Aspirations Scholarship Program Inc
Public records show a registered, tax-exempt organization in good standing.
What it says it does
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.
- Income
- $2.5 million
- Spending
- $2.5 million
- Spent on programs
- 81%
- Reserves
- 26.2 months of spending
- Largest source of income
- donations and private grants, 48%
- Employees
- 96
- Volunteers
- 1
- Highest pay
- $159,957, president an
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Good: 82 out of 100. Higher than 69% of charities in its peer group (education, $1m to $10m).
Reserves
35 of 35Spendable reserves would cover 26.2 months of spending.
Debt
10 of 20It owes 34% of what it owns.
Living within its means
12 of 15Income exceeded spending by 0% of income.
Income trend
10 of 15Income fell 6% on the year before.
Spending floor
15 of 1581% of spending went to programs and raising each dollar of donations cost 4 cents.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 74% of charities in its peer group (education, $1m to $10m).
Independent board
25 of 2526 of 29 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (5)
- $1.2 million spent. 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.
- $392,770 spent. 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.
- $261,154 spent. 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. 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.
- $177,605 spent. 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.
- 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.
Source: Form 990 for the year ending June 30, 2025, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending June 2025.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since March 1983.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.