Great Aspirations Scholarship Program Inc.

“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.”

“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.”

“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.”

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

“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.”

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