Great Aspirations Scholarship Program Inc.

“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.”

“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.”

“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.”

“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 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.”

“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.”

“Fundraising expenses 3,391 fundraising expenses -3,391 book / tax depreciation difference 6,587 total 6,587”