Civic Intelligence

Great Aspirations Scholarship Program Inc.

990 • Fiscal year 2023 • EIN 52-1277427

Jul 01, 2022 to Jun 30, 2023 • Filed on Jan 22, 2024

Organization Profilegrasp4va.org
2821 Emerywood Parkway 204Richmond, VA 23294-3726

(804) 527-7726

Siviq Scores

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

Liabilities / Assets

46th percentile

0.05x

Higher debt load relative to assets than 46% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

53rd percentile

0.10x

Higher debt load relative to revenue than 53% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

68th percentile

14%

Higher net margin than 68% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

82nd percentile

$144,632

Higher top officer pay than 82% of similar nonprofits.

Top officer pay equals 6.2% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

55th percentile

6.4%

Faster asset growth than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

70th percentile

24%

Faster revenue growth than 70% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets46th percentile

Assets

Up

$4,988,018

Up $300,183 (+6.4%) from 2022

Net Assets

Up

$4,750,697

Up $334,364 (+7.6%) from 2022

Liabilities

Down

$237,321

Down $34,181 (-13%) from 2022

Revenue And Expenses
Liabilities / Revenue53rd percentileNet Margin68th percentile

Revenue

Up

$2,319,158

Up $446,259 (+24%) from 2022

Expenses

Up

$1,984,794

Up $413,974 (+26%) from 2022

Net Income

Up

$334,364

Up $32,285 (+11%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

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

$10M$5.0M$0Assets 2011: $788,569Liabilities 2011: $0Net Assets 2011: $788,5692011Assets 2012: $1,029,102Liabilities 2012: $0Net Assets 2012: $1,029,1022012Assets 2013: $1,656,577Liabilities 2013: $3,841Net Assets 2013: $1,652,7362013Assets 2014: $2,270,070Liabilities 2014: $1,603Net Assets 2014: $2,268,4672014Assets 2015: $2,760,503Liabilities 2015: $23,516Net Assets 2015: $2,736,9872015Assets 2016: $3,546,518Liabilities 2016: $4,247Net Assets 2016: $3,542,2712016Assets 2017: $3,816,873Liabilities 2017: $345Net Assets 2017: $3,816,5282017Assets 2018: $3,882,556Liabilities 2018: $0Net Assets 2018: $3,882,5562018Assets 2019: $3,723,797Liabilities 2019: $0Net Assets 2019: $3,723,7972019Assets 2020: $3,717,172Liabilities 2020: $172,958Net Assets 2020: $3,544,2142020Assets 2021: $4,561,771Liabilities 2021: $447,517Net Assets 2021: $4,114,2542021Assets 2022: $4,687,835Liabilities 2022: $271,502Net Assets 2022: $4,416,3332022Assets 2023: $4,988,018Liabilities 2023: $237,321Net Assets 2023: $4,750,6972023Assets 2024: $8,059,909Liabilities 2024: $2,892,409Net Assets 2024: $5,167,5002024Assets 2025: $8,410,475Liabilities 2025: $2,823,385Net Assets 2025: $5,587,0902025

Highlighted filing

2023

Assets$4,988,018
Liabilities$237,321
Net Assets$4,750,697
Open 2023 Filing

Operations Trend

Revenue Growth70th percentile

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

$3.0M$2.0M$1.0M$0-$1.0MExpenses 2011: $553,3252011Expenses 2012: $634,7472012Expenses 2013: $811,4992013Revenue 2014: $1,596,843Expenses 2014: $978,787Net Income 2014: $618,0562014Revenue 2015: $1,524,671Expenses 2015: $1,050,514Net Income 2015: $474,1572015Revenue 2016: $2,003,035Expenses 2016: $1,197,751Net Income 2016: $805,2842016Revenue 2017: $1,921,038Expenses 2017: $1,646,781Net Income 2017: $274,2572017Revenue 2018: $1,837,707Expenses 2018: $1,771,679Net Income 2018: $66,0282018Revenue 2019: $2,165,058Expenses 2019: $2,323,817Net Income 2019: -$158,7592019Revenue 2020: $1,518,825Expenses 2020: $1,698,408Net Income 2020: -$179,5832020Revenue 2021: $2,086,879Expenses 2021: $1,516,839Net Income 2021: $570,0402021Revenue 2022: $1,872,899Expenses 2022: $1,570,820Net Income 2022: $302,0792022Revenue 2023: $2,319,158Expenses 2023: $1,984,794Net Income 2023: $334,3642023Revenue 2024: $2,650,977Expenses 2024: $2,234,174Net Income 2024: $416,8032024Revenue 2025: $2,490,185Expenses 2025: $2,481,101Net Income 2025: $9,0842025

Highlighted filing

2023

Revenue$2,319,158
Expenses$1,984,794
Net Income$334,364
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Jan 22, 2024
Return Version
2022v5.0
Gross Receipts
$2,319,189
Mission and Program Overview

Mission

GRASP's mission is to help all students and their families, with a focus on financially disadvantaged households, by: giving inspiration and hope that their goals are attainable; assisting them with the financial aid process and awarding scholarships; and supporting them in the attainment of their post-secondary goals at the lowest possible cost. GRASP is the only organization in the regions we serve that is primarily focused on assisting students with the postsecondary financial aid process and scholarship searching for all students. Financial aid is critical to increasing college access and success and is most effective when students and families learn about it early enough to make informed choices and plans. GRASP fills a substantial gap in the college access and success pipeline and fulfills our mission to ensure that every student has an equal opportunity for continuing education after high school through a balanced continuum of services.

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.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 as defined further in Item III, 4(c).

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$3,935,455$4,216,850▲ $281,395
Cash and Non-Interest-Bearing Accounts$383,885$342,168▼ $41,717
Savings and Temporary Cash Investments$69,072$237,436▲ $168,364
Land, Buildings, and Equipment, Net$18,852$18,464▼ $388
Pledges and Grants Receivable$84,162$9,900▼ $74,262
Total Assets$4,687,835$4,988,018▲ $300,183
Other Assets Total$196,409$163,200▼ $33,209
Liabilities
Other Liabilities$271,252$231,755▼ $39,497
Accounts Payable and Accrued Expenses$250$5,566▲ $5,316
Total Liabilities$271,502$237,321▼ $34,181
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,067,595$4,540,994▲ $473,399
Net Assets With Donor Restrictions$348,738$209,703▼ $139,035
Total Net Assets Fund Balance$4,416,333$4,750,697▲ $334,364
Total Liabilities and Net Assets / Fund Balance$4,687,835$4,988,018▲ $300,183

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$18,464$31,586$50,050
Investment Program Related Org$4,216,850--
Compensation and Service Providers
Top Officer Pay82nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Todd D MartinPresident and CEOFT$144,632$144,632
Patricia Y GordonChief Financial OfficerPT$55,884$55,884

Board Members and Trustees

NameTitle
Kenneth M DyeChairman
Senator Walter A StoschDirector, Former Chairman/
Kenneth D BarkerFormer President and CEO
Paula F Robinson MPAVice Chairman
Charles R Duvall JrDirector
Charmica Epps HarrisDirector
David W Didawick CPADirector
Delegate J William MorefieldDirector
Ebony A Lambert PhDDirector
Juan EspinozaDirector
Judge Randolph A BealesDirector
Kelli ParkerDirector
Kristin Carleton AAMSDirector
Levar M StoneyDirector
Lorraine Justice PhDDirector
Richard D AdamsDirector
Sarah H Scarbrough PhDDirector
Sue Ann SAM MessmerDirector
Van C Wilson EdDDirector
Gary R ThomsonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$1,690,411
Program Service Revenue
$437,500
Investment Income
$954
Other Revenue
$190,293
All Other Contributions
$882,062
Change in Net Assets
$334,364

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,319,189
Revenue Not Reported on Financial Statements
$-31
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$-31
Total Revenue per Audited Statements
$2,319,189
Total Revenue per Form 990
$2,319,158
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,078,670
Grants and Similar Amounts Paid$630,774
Other Expenses$270,950
Total Fundraising Expense$66,769
Professional Fundraising Fees$4,400

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$647,198$258,542$57,810$963,550
Grants to Domestic Individuals$630,774--$630,774
Payroll Taxes$50,085$20,039$4,559$74,683
Other Employee Benefits$40,437--$40,437
Occupancy$28,066$9,355-$37,421
All Other Expenses$32,975$370-$33,345
Fees for Services Accounting$22,513$7,505-$30,018
Other Expenses$21,328$2,370-$23,698
Office Expenses$18,105--$18,105
Depreciation Depletion$6,923--$6,923
Insurance$4,305$1,435-$5,740
Fees for Services Professional Fundraising--$4,400$4,400
Interest$691$231-$922
Total Functional Expenses$1,618,178$299,847$66,769$1,984,794

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,984,825
Total Expenses per Audited Statements$1,984,825
Total Expenses per Form 990$1,984,794
Expenses Not Reported on Form 990$0
Expenses Not Reported on Financial Statements$-31
Other Expense Adjustments$-31
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$4,400
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long-term portion of lease liability$127,529
Scholarships awarded and not paid$56,500
Current portion of lease liability$36,961
Accrued payroll$10,765
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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

Form 990, Part VI, Section B, line 11B

“The final version Form 990 is e-mailed to the Chief Financial Officer who then e-mails 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 Chairwoman before the it is released for e-filing to the IRS, All board members will have also received the return and have access to the return before its filing.”

Form 990, Part VI, Section B, line 12C

“GRASP's Conflict of Interest Policy document identifies procedures for determining whether a conflict of interest exists, the disclosure of such, and actions to be taken by the board member and the governing board upon disclosure of such a conflict. GRASP has also documented its procedures for addressing the conflict of interest. GRASP has documented the procedures to be taken when it is believes that a violation of its conflict of interest policy has occurred and procedures to be taken when violation has been deemed to have occurred. 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, has agreed to comply with the policy and understands GRASP is charitable and in order to maintain its federal tax exemption it must engage primarily in activities which accomplish one or more of its tax exempt purposes. Outside advisors may be used by GRASP to assist its board with monitoring its compliance with its conflict of interest policy.”

Form 990, Part VI, Section B, line 15

“Compensation of the Chief Executive Officer and Management is subject to review and approval by the Executive Committee of the Board of Directors on an annual basis. Compensation of other officers and key employees is subject to review and approval by the Executive Committee of the Board of Directors on an annual basis.”

Form 990, Part VI, Section C, line 19

“Governing documents are made available to the public on the public website.”

Filing and Contact Details

Filer

Filer Name
GReat Aspirations
EIN
52-1277427
Phone
8045277726
Address
2821 Emerywood Parkway 204, Richmond, VA 23294-3726
Doing Business As
Dba Grasp

Signing Officer

Name
Todd D Martin
Title
President and CEO
Phone
8045277728
Signed
2024-01-22
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Todd D Martin
Formed
1983
Legal Domicile
Va
Voting Board Members
23
Independent Board Members
23
Employees
89
Volunteers
0

Preparer

Firm
Owen Plc
Address
7294 Ellingham Court, Glen Allen, VA 23059-7172
Preparer
Thomas E Owen Jr CPA
Phone
8042413258
Supplemental Narrative

Additional Explanations

Form 990, Part XII, line 2(C)

“The organization has not changed its process since its prior tax year for internal oversight or auditor selection.”

Financial Statement Notes

Part X, Line 2:

“GRASP has evaluated its tax position for all open tax years subject to examination by the Internal Revenue Service which include the fiscal years ended June 30, 2023, 2022 and 2021. Based on the evaluation of GRASP's tax positions, management believes all tax positions taken by GRASP will be upheld for any examination that may follow in the open tax years previously mentioned. Therefore, no provision for the effects of uncertain tax positions has been made by management for the year ended June 30, 2023.”

Part XI, Line 4B - Other Adjustments:

“Loss on disposition of fixed assets -31.”

Part XII, Line 4B - Other Adjustments:

“Loss on disposition of fixed assets -31.”

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IRS990/Form990PartVIISectionAGrp/PersonNm0Senator Walter A Stosch
IRS990/Form990PartVIISectionAGrp/PersonNm1Sarah H Scarbrough PhD
IRS990/Form990PartVIISectionAGrp/PersonNm2David W Didawick CPA
IRS990/Form990PartVIISectionAGrp/PersonNm3Kenneth D Barker
IRS990/Form990PartVIISectionAGrp/PersonNm4Kenneth M Dye
IRS990/Form990PartVIISectionAGrp/PersonNm5Judge Randolph A Beales
IRS990/Form990PartVIISectionAGrp/PersonNm6Levar M Stoney
IRS990/Form990PartVIISectionAGrp/PersonNm7Paula F Robinson MPA
IRS990/Form990PartVIISectionAGrp/PersonNm8Gary R Thomson
IRS990/Form990PartVIISectionAGrp/PersonNm9Richard D Adams
IRS990/Form990PartVIISectionAGrp/PersonNm10Charmica Epps Harris
IRS990/Form990PartVIISectionAGrp/PersonNm11Lorraine Justice PhD
IRS990/Form990PartVIISectionAGrp/PersonNm12Ebony A Lambert PhD
IRS990/Form990PartVIISectionAGrp/PersonNm13Van C Wilson EdD
IRS990/Form990PartVIISectionAGrp/PersonNm14Kristin Carleton AAMS
IRS990/Form990PartVIISectionAGrp/PersonNm15Juan Espinoza
IRS990/Form990PartVIISectionAGrp/PersonNm16Delegate J William Morefield
IRS990/Form990PartVIISectionAGrp/PersonNm17Kelli Parker
IRS990/Form990PartVIISectionAGrp/PersonNm18Sue Ann SAM Messmer
IRS990/Form990PartVIISectionAGrp/PersonNm19Charles R Duvall Jr
IRS990/Form990PartVIISectionAGrp/PersonNm20Todd D Martin
IRS990/Form990PartVIISectionAGrp/PersonNm21Patricia Y Gordon
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt30
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt40
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt50
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt60
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt70
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt80
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt90
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt100
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt110
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt120
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt130
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt160
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt170
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt180
IRS990/Form990PartVIISectionAGrp/ReportableCompFromOrgAmt190
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt120
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt140
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt160
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt190
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt200
IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt210
IRS990/Form990PartVIISectionAGrp/TitleTxt0Director, Former Chairman/
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Former President and CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt4Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6Director
IRS990/Form990PartVIISectionAGrp/TitleTxt7Vice Chairman
IRS990/Form990PartVIISectionAGrp/TitleTxt8Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Director
IRS990/Form990PartVIISectionAGrp/TitleTxt11Director
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Director
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
IRS990/Form990PartVIISectionAGrp/TitleTxt16Director
IRS990/Form990PartVIISectionAGrp/TitleTxt17Director
IRS990/Form990PartVIISectionAGrp/TitleTxt18Director
IRS990/Form990PartVIISectionAGrp/TitleTxt19Director
IRS990/Form990PartVIISectionAGrp/TitleTxt20President and CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt21Chief Financial Officer
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IRS990/InsuranceGrp/TotalAmt05740
IRS990/InterestGrp/ManagementAndGeneralAmt0231
IRS990/InterestGrp/ProgramServicesAmt0691
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IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd01
IRS990/MinutesOfGoverningBodyInd01
IRS990/MissionDesc0GRASP's mission is to help all students and their families, with a focus on financially disadvantaged households, by: giving inspiration and hope that their goals are attainable; assisting them with the financial aid process and awarding scholarships; and supporting them in the attainment of their post-secondary goals at the lowest possible cost. GRASP is the only organization in the regions we serve that is primarily focused on assisting students with the postsecondary financial aid process and scholarship searching for all students. Financial aid is critical to increasing college access and success and is most effective when students and families learn about it early enough to make informed choices and plans. GRASP fills a substantial gap in the college access and success pipeline and fulfills our mission to ensure that every student has an equal opportunity for continuing education after high school through a balanced continuum of services.
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IRS990/MoreThan5000KToOrgInd00
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IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt0-31
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0-31
IRS990/NetIncmFromFundraisingEvtGrp/TotalRevenueColumnAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt04540994
IRS990/NoncashContributionsAmt04738
IRS990/NondeductibleContributionsInd00
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IRS990/OccupancyGrp/ProgramServicesAmt028066
IRS990/OccupancyGrp/TotalAmt037421
IRS990/OfficeExpensesGrp/ProgramServicesAmt018105
IRS990/OfficeExpensesGrp/TotalAmt018105
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IRS990/OtherExpensesGrp/Desc0Computer database servi
IRS990/OtherExpensesGrp/Desc1Training expenses
IRS990/OtherExpensesGrp/Desc2Mileage reimbursement
IRS990/OtherExpensesGrp/Desc3Cellular communicatons
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IRS990/OtherRevenueMiscGrp/Desc0Increase in fair value
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IRS990/OtherRevenueTotalAmt0190293
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt0258542
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0647198
IRS990/OtherSalariesAndWagesGrp/TotalAmt0963550
IRS990/OwnWebsiteInd0X
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt04559
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt020039
IRS990/PayrollTaxesGrp/ProgramServicesAmt050085
IRS990/PayrollTaxesGrp/TotalAmt074683
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt09900
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Todd D Martin
IRS990/ProfessionalFundraisingInd00
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IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611710
IRS990/ProgramServiceRevenueGrp/BusinessCd3611430
IRS990/ProgramServiceRevenueGrp/Desc0Education Improvement
IRS990/ProgramServiceRevenueGrp/Desc1SOAR Virginia 529
IRS990/ProgramServiceRevenueGrp/Desc2Public School Advisor
IRS990/ProgramServiceRevenueGrp/Desc3Fees Earned Scholarshi
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt0268500
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt190500
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt274500
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt34000
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt0268500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt190500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt274500
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt34000
IRS990/ProgSrvcAccomActy2Grp/Desc0Unique 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.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0348434
IRS990/ProgSrvcAccomActy2Grp/GrantAmt0348434
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt090500
IRS990/ProgSrvcAccomActy3Grp/Desc0GRASP 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 be given to scholarships for students with disabilities attending private schools with specialized disability services under the EISP Program.
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt0282340
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0268500
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IRS990/PYContributionsGrantsAmt01641035
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IRS990/PYGrantsAndSimilarPaidAmt0380638
IRS990/PYInvestmentIncomeAmt0788
IRS990/PYOtherExpensesAmt0209834
IRS990/PYOtherRevenueAmt0-245617
IRS990/PYProgramServiceRevenueAmt0476693
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IRS990/RevenueAmt0269747

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,988,018
Liabilities
$237,321
Net assets
$4,750,697
Revenue
$2,319,158
Expenses
$1,984,794
Net income
$334,364
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.41$2.82$5.59$2.49$2.48$0.01
2024Detailed filing. Detailed filing data is available for this year.$8.06$2.89$5.17$2.65$2.23$0.42
2023Detailed filing. Detailed filing data is available for this year.$4.99$0.24$4.75$2.32$1.98$0.33
2022Detailed filing. Detailed filing data is available for this year.$4.69$0.27$4.42$1.87$1.57$0.30
2021Detailed filing. Detailed filing data is available for this year.$4.56$0.45$4.11$2.09$1.52$0.57
2020Detailed filing. Detailed filing data is available for this year.$3.72$0.17$3.54$1.52$1.70$0.18
2019Detailed filing. Detailed filing data is available for this year.$3.72$0.00$3.72$2.17$2.32$0.16
2018Detailed filing. Detailed filing data is available for this year.$3.88$0.00$3.88$1.84$1.77$0.07
2017Detailed filing. Detailed filing data is available for this year.$3.82$0.00$3.82$1.92$1.65$0.27
2016Detailed filing. Detailed filing data is available for this year.$3.55$0.00$3.54$2.00$1.20$0.81
2015Summary only. Only limited summary data is available for this year.$2.76$0.02$2.74$1.52$1.05$0.47
2014Detailed filing. Detailed filing data is available for this year.$2.27$0.00$2.27$1.60$0.98$0.62
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.66$0.00$1.65$0.81
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$0.00$1.03$0.63
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.79$0.00$0.79$0.55